In the News, 4-3-15 (a.m.)

Soon, Students May Learn to Code Instead of Taking French Class 

Parlez-vous Java? Sprechen Sie Python?

At least four states — including Washington, home of Microsoft Corp. — have either passed or considered measures that would delight high school students who have trouble rolling their r's. Rather than taking Spanish to satisfy their foreign language requirement, they could take a computer language.  (Continue reading)

Trade Gap in U.S. Shrinks to Five-Year Low as Imports Slump

The trade deficit in the U.S. shrank in February to the lowest level in more than five years as a labor dispute at West Coast ports contributed to the weakest reading on purchases from abroad since 2011. (More)

Consumer Comfort in U.S. Climbs to Second-Highest Since 2007 

Consumer confidence rose for a third straight week, capping the best quarter in almost eight years as greater purchasing power boosted Americans’ views of their finances and buying climate.

The Bloomberg Consumer Comfort Index climbed to 46.2 in the week ended March 29, its second-highest reading since July 2007, from 45.5 the prior week. The index averaged 44.7 in the first quarter, its best performance since the second quarter of 2007. (Here)

Japan's Battery-Powered Recovery

As Japanese Prime Minister Shinzo Abe looks for ways to reboot Abenomics, he could do worse than heed the advice of Kurt Kelty. Delivering a public speech on a recent Friday evening in Osaka, Tesla's director of battery technology captured all that's wrong with the Japanese economy. "We need to take risks, otherwise there will be no prosperity in business,” Kelty said in fluent Japanese. “We take risks, but it seems not the case in Japan.” (Continue)

The Apple Watch Designers on How It Will Change Your Life

Apple co-founder Steve Jobs liked to talk about putting "a dent in the universe." The problem with that philosophy is the law of unintended consequences: You just might not like that new world order.

Such is the realization we get in Wired's behind-the-scenes story about the creation of the Apple Watch, which arrives in stores this month. As Apple's design team toiled away late into the night on a recent assignment, they came to an epiphany: "Your phone is ruining your life," writes Wired's David Pierce. (Full article)

The Real Cost of California's Drought

California has to do something — many of its reservoirs are half-empty, and the Sierra Nevada snowpack, which provides much of California's water, is far below normal levels. But that doesn't mean it should do this particular thing. California's proposal is far too heavy on top-down regulatory management, and far too light on pricing. (More)

A Virtual Garage Sale Takes on Craigslist

Every Sunday at 4 p.m. about 300 cars gather in the parking lot of Clearview Mall in New Orleans. No one goes inside to shop—they’re meeting to exchange used clothes, furniture, and electronics being sold through an app called VarageSale. “This is pretty much my job now,” says Hope Thibodeaux, a 32-year-old mom who volunteered to help organize the weekly meetups. She’s bought and sold a steady stream of baby clothes and other items using the app. With the profit, she says, “I’m able to supplement our income enough to make it feasible for me to stay at home with my son.” (Continue)

Traders Are Now Expecting the Fed to Raise Rates Later Than Ever Before

Ahead of the March jobs report, traders are expecting the Federal Reserve to raise interest rates later than ever before. 

As of Wednesday's close, Federal funds futures implied liftoff from zero in the final week of November, according to an index maintained by analysts at Morgan Stanley. That's been pushed back from September as of two weeks ago, before the policy-setting Federal Open Market Committee's March meeting. (More here)

A tweet from Tesla on its new watch, the Model W, which was an April 1 day joke, was read as great news by the algo-traders and actually popped the stock up at the end of the trading day. 

Tesla Stockholders Can't Take a Joke

PALO ALTO, Calif., April 1, 2015 – Tesla today announced a whole new product line called the Model W. As many in the media predicted, it's a watch. That's what the "W" stands for.

This incredible new device from Tesla doesn't just tell the time, it also tells the date. What's more, it is infinitely adjustable, able to tell the time no matter where you are on Earth. Japan, Timbuktu, California, anywhere! This will change your life. Reality as you know it will never be the same. (Full article)

Netanyahu to Convene Israeli Security Cabinet on Iran Deal

Prime Minister Benjamin Netanyahu called a meeting on Friday with top ministers to discuss the framework deal regarding Iran’s nuclear program, which the Israeli leader has said threatens his country’s existence.

Iran and world powers said on Thursday they had agreed on the main outlines of an accord, from a timetable for lifting sanctions to the repurposing of Iranian nuclear facilities. Other Israeli ministers have echoed concerns over what U.S. President Barack Obama called an “historic understanding.” (Read more)

Turkish March Inflation Accelerates Most in Month Since 2003

Turkey’s month-on-month consumer price inflation unexpectedly accelerated to the highest level in the month of March since 2003, when Recep Tayyip Erdogan, now president, came to power as prime minister. (More)

Iron Ore Futures in China Extend Slump to Record Low on Surplus

Iron ore futures in China dropped to a record intraday low on Friday on concern demand was slowing in the biggest consumer as global mining companies increase supply.

Prices fell as much as 2.6 percent to 370 yuan ($59.7) a metric ton on the Dalian Commodity Exchange, the lowest level since trading started in October 2013, before closing at 380 yuan. The contract lost 10 percent this week, the most ever. (Read more)

Yuan Forwards Completes Biggest Weekly Gain Since 2011 on PMIs

Yuan forwards posted the biggest weekly advance in more than three years after the economy showed signs of picking up and on speculation China wants a stable exchange rate as it pushes ahead with reforms. (Here)

California Facing Extreme Heat Waves and Rising Seas

A day after California imposed mandatory water restrictions to battle a four-year drought, a new study on global warming suggests the worst is yet to come.

The average number of days with temperatures higher than 95 degrees Fahrenheit (35 degrees Celsius) may double or even triple by the end of the century, threatening one of the world’s richest agricultural regions. At the same time, $19 billion in coastal property will likely disappear as sea levels rise, the study found. (More)

These Charts Will Help You Better Understand Today's Jobs Report

There was a lot of important data in this month's jobs report, even beyond the disappointing headline of just 126,000 new jobs added. Matthew Boesler of Bloomberg News tweeted out these charts that help give some deeper context to the key numbers and what to look for going forward. (Read here)

U.S. Stock Futures Decline as Jobs Report Fuels Economy Concerns

U.S. stock futures tumbled as data showing employers added the fewest workers since December 2013 capped a week of reports suggesting the economy is losing momentum.

S&P 500 futures expiring in June lost 1 percent to 2,039.75 at 9:15 a.m. in New York. While exchanges are closed for the Good Friday holiday, futures contracts traded for 45 minutes after the data, giving investors a window to react. (More)

Dollar Slips as U.S. Jobs Report Erodes Outlook for Higher Rates

The dollar fell after a U.S. labor report eroded confidence that the Federal Reserve is moving closer to raising interest rates.

The U.S. currency slid against most of its major peers as the release showed companies added 126,000 jobs in March, the fewest since December 2013. The median forecast in a Bloomberg survey called for a 245,000 increase. The unemployment rate held steady at 5.5 percent. (Continue)

Russia Drilling on Weak Ruble Leads to Oil Output Gain: Sberbank

Russian oil producers benefiting from last year’s ruble collapse used relatively cheaper service costs to increase drilling and boost crude output in March, according to Sberbank CIB.

Development drilling jumped 23 percent in the first two months of the year, helping push oil output to 10.71 million barrels a day, Sberbank CIB analysts Alex Fak and Valery Nesterov wrote in a research note Friday. That matched the post-Soviet record level of production in January. (Full article)

China Eases Rules for Selling Loans as Asset-Backed Securities

China relaxed rules for the sale of asset-backed securities, making it easier for banks to transform some of the country’s 85 trillion yuan ($14 trillion) yuan of outstanding loans into tradable notes. (More)

Payrolls in U.S. Rose 126,000 in March, Least Since 2013

Employers in March added the fewest workers since December 2013 and the jobless rate held at 5.5 percent as companies sought to bring U.S. headcounts in line with an economy that throttled back at the start of the year. (Read more)

Treasuries Surge as Weak Jobs Reports Pushes Back Fed Outlook

Treasuries surged after a government report showed employers in March added the fewest workers since December 2013, damping the outlook for the timing of interest-rate increases by the Federal Reserve.

The 126,000 increase in March was weaker than the most pessimistic forecast in a Bloomberg survey, the Labor Department said. The unemployment rate remained at 5.5 percent. Traders had speculated that the Fed could raise rates as soon as June. (Here)

The One Trick You’re Not Doing to Make Knockout Roast Chicken

It doesn’t happen every day, but sometimes you follow a recipe and it totally rocks your world.

Diana Kennedy’s carnitas, which involve little more than simmering pieces of pork shoulder in salted water, define the category for me. The technique is so simple, and the result is so much better than complex recipes I’ve tried, that I was an immediate convert, compelled to talk about it with the enthusiasm of the newly converted. With the exception of Cosme’s fine duck carnitas—cooked for hours in evaporated milk and duck fat—I’ll never make carnitas any other way. Such is the effect of a “genius recipe.” (More here)

From USAToday

McDonald's wage hike likely to spread to other chains

McDonald's rivals could be forced to match the raises that the chain is handing out as they compete harder for fast-food and retail workers.

"As a matter of course, we routinely review restaurant employee compensation to ensure we remain competitive in the marketplace," Wendy's spokesman Bob Bertini said Thursday. (Continue)

Jobs, manufacturing reports show weaker economy

While economists say milder weather and the fading after effects of a West Coast ports labor slowdown should spark a rebound in the months ahead, the impact of a strong dollar and reduced energy company investments are likely to linger. (More here)

Mortuaries in Kenyan town swamped after militants' attack

The mortuaries in the Kenyan town of Garissa are so overwhelmed by victims of an al-Shabab militant attack on a local university that they are shipping the bodies of many of the 147 dead to Nairobi, the BBC reports.

Two security guards, one policeman and one soldiers were among the dead, along with four gunmen from the Islamist militant group. (Read more)