Financial Markets and Economy
Fed Waiting to See Economic Results From Flurry of Trump Actions (Bloomberg)
Like everyone trying to figure out where the U.S. economy is heading, the Federal Reserve is waiting to see what the whirlwind of executive orders and remarks from President Donald Trump mean for growth as they weigh the timing of the next interest-rate hike.
Millennials Take Back Seat to Seniors When It Comes to U.S. Consumer Confidence (Bloomberg)
In the Conference Board’s monthly consumer confidence gauge, Americans 55 and older have seen the biggest rise in optimism since the November election of President Donald Trump.
U.S. May Export More Oil in 2017 Than Four OPEC Nations Produce (Bloomberg)
U.S. crude exports are poised to surpass production in four OPEC nations in 2017 and may grow even more if President Donald Trump honors pledges to ease drilling restrictions and maximize output.
German prosecutors investigate Deutsche Boerse chief (Reuters)
German police and prosecutors investigating possible insider trading by the head of Deutsche Boerse (DB1Gn.DE) have searched the office and apartment of the man who is leading a planned merger with the London Stock Exchange (LSE.L).
Canada Manufacturing Sector Providing No Cure for Economic Ills (Bloomberg)
Canada's economy may be returning to health after an oil shock, but keeping up that momentum could hinge on whether manufacturers show more resilience.
Saudi Arabia Will Invite Bids for Renewable Energy Projects in April (Fortune)
Saudi Arabia will invite international and domestic companies to bid for renewable energy projects in April , the energy minister said on Wednesday, adding that he expected to award the deals in September.
Japan considers buying more U.S. energy as Abe prepares to meet Trump (Reuters)
Japanese Prime Minister Shinzo Abe is considering increasing energy imports from the United States, two sources familiar with the plan told Reuters, as he prepares to meet President Donald Trump, who has complained about Japan's trade surplus.
Tidal Power Can Make the U.K. a Green Energy Leader (Bloomberg)
The U.K. government is mulling whether to support a 1.3 billion ($1.6 billion) proposal to build a tidal lagoon in South Wales. It should stop dithering and subsidize the project to help meet the country's green energy goals, produce cheaper power, and establish Britain as the world leader in technology that harnesses the power of the tides to generate electricity.
Here's a Glimpse of the Global Trade Carnage From a U.S. Border Tax (Bloomberg)
Whether or not a border tax proposed by Republican congressional leaders helps U.S. President Donald Trump pay for his Mexico border wall, it would have a radical impact on global trade patterns.
Nippon Steel executive: Worries over U.S. protectionism 'growing every day' (Reuters)
Worries over U.S. President Donald Trump's protectionist policies are "growing every day", a senior executive at Nippon Steel & Sumitomo Metal Corp (5401.T) said, however, any impact on its U.S. steel exports would be limited.
Bank of America Says European Credit Is ‘Mispricing’ Inflation (Bloomberg)
Global reflation and fading central-bank stimulus herald a new dawn for the European corporate debt market that will buoy high-yield paper at the expense of high-grade, according to analysts at Bank of America Corp., citing an upcoming portfolio shift among investors.
Japan 10-Year Yield Climbs Above 0.1% to Test BOJ’s Kuroda (Bloomberg)
Japan’s 10-year yield climbed to its highest in a year after the Bank of Japan failed to step in to halt an advance that puts its yield-curve control strategy under scrutiny.
Property Stocks Lead Slide in Hong Kong Market (Fool.com)
Hong Kong stocks fell on Thursday, with property stocks leading the slide, as investors continued to lock in gains after the U.S. Federal Reserve stuck to its mildly upbeat economic view but gave no hint of when it would next raise interest rates.
Europe's Volatility Curve Is Getting Kinky Ahead of French Vote (Bloomberg)
Traders, already wearied from the 2016 gyrations that followed Brexit, Donald Trump's victory and Italy's referendum, are pricing in a surge in volatility for April, when the first round of French voting will occur.
Today's Silver Investing News Shows Why Prices Will Rise Another 26% (Money Morning)
In silver investing news today (Wednesday, Feb. 1), silver prices are down 0.42% and trading at $17.47 per ounce. That's a drop from yesterday's close of $17.54 – the highest settlement for an active futures contract since Nov. 10, 2016.
Missing Chinese billionaire was targeted over 2015 stocks crash (AFP)
A Chinese billionaire who went missing from Hong Kong and is believed to have been abducted by mainland security agents is reportedly under investigation in connection with China's 2015 stocks crash.
China's 2016 oil demand in the red as GDP growth hits 26-year low (S&P Global Platts)
China's apparent oil demand slipped into the negative territory in 2016, a sharp reversal from the near 7% growth witnessed a year earlier, as the country's slowest GDP growth in 26 years slashed appetite for industrial and transportation fuels in Asia's biggest oil consuming nation.
Saudi Energy Minister Praises Trump’s Pro-Fossil-Fuel Policies (Bloomberg)
President Donald Trump’s energy policies are good for the petroleum industry and Saudi Arabia sees no problem with growth in U.S. oil production as long as it’s in line with demand, Saudi Energy Minister Khalid Al-Falih said.
25 Bps Repo Rate Cut More Likely In April Than February: Citigroup (BW Business World)
The government's commitment to fiscal consolidation in the Budget will help the Reserve Bank adopt an accommodative monetary stance, but a rate cut is more likely in April than in policy review meet next week, says a report.
OPEC to Swell Investor Gains by Turning Market Upside Down (Bloomberg)
OPEC’s production cuts have already turned oil speculators the most bullish in a decade. As their effect is felt, crude could become even more alluring.
European Growth Hits Multi-Year Highs (Leo Nelissen, Seeking Alpha)
Most people know that more than 90% of my articles are about American economic indicators, stocks etc. However, it is important to cover different world regions as well. Especially when researching growth trends in regions that affect the entire world.
Asian shares slip, dollar wobbles as Fed keeps rates steady (Associated Press)
Asian markets retreated and the dollar wobbled Thursday after the Fed kept its key lending rate on hold as expected at its latest policy meeting.
The Central Banks Pull Back: Now It's Up to Fiscal Policy to "Save the World" (Of Two Minds)
Have you noticed that the breathless anticipation of the next central bank "save" has diminished? Remember when the financial media was in a tizzy of excitement, speculating on what new central bank expansion would send the global markets higher in paroxysms of risk-on joy?
Dollar Dumps Most In 30 Years As Trump Raises Doubt Over "Strong Dollar Policy" (Zero Hedge)
As the Trump Administration is breaking from a long-standing, bipartisan policy of supporting a strong dollar, the greenback has fallen against its peers by 2.7%, the worst start to a year since 1987, after Ronald Reagan engineered a decline in the dollar to combat a flood of Japanese imports.
Companies
Sony rules out pictures biz sale, committed to turnaround (Reuters)
Sony Corp on Thursday said it does not plan to sell its pictures business after suffering a $1 billion writedown, and instead aims to turn it around by adding sales channels and making more use of movie characters.
Shell Profit Slips to Lowest Level in More Than a Decade (The Wall Street Journal)
Royal Dutch Shell PLC’s annual profit tumbled to the lowest level in more than a decade, reflecting a tough year for an industry hit hard by low oil prices.
Nokia beats market expectations, sees network market improving (Reuters)
Finnish network equipment maker Nokia reported its quarterly profits fell less than expected, helped by cost cuts and the acquisition of Alcatel-Lucent, and said the tough global market was starting to stabilize.
Technology
Uber bows to government pressure and suspends its service in Taiwan (Tech Crunch)
The ride-sharing firm confirmed in a blog post that its service will be “paused” from February 12. Uber isn’t saying when it will resume in the country, where it is present in four cities, but it hopes that the move will “reset the conversation” and help push through new legislation to legalize its service.
Uber And Lyft May Just Be Here For A Brief Ride (Forbes)
Uber and Lyft may be taking the world by storm today, but some experts believe their run will be shortly ended by the technology they are rushing to embrace: self-driving cars.
Influencers: Instagram Is the Most Engaging Platform (Report) (Adweek)
While Snapchat is the new favorite platform, Instagram and Facebook are still considered the best platforms for engaging with social media audiences.
Mercedes-Benz Luxury Cars Fuel Fat Profits At Daimler (Associated Press)
German automaker Daimler AG said Thursday that its fourth-quarter net profit rose 18 percent as the company's flagship Mercedes-Benz brand reaped fat returns on new SUV models.
Why Your Brain May Be Wired To Believe Fake News (Forbes)
The spread of fake news has helped re-shape on the Internet over the past year, with several studies showing that thousands of people fell for the allure of completely-fabricated stories over the course of the U.S. election.
Politics
GOP blows up Senate rules to advance Steve Mnuchin, Tom Price despite Democrats’ boycott over “inaccurate” testimonySenate Republicans blew up the chamber’s rules to appease Donald Trump, and are now rushing to blame Democrats for the major breach. But according to Senate Democrats, President Trump’s Cabinet nominees are the ones at fault after delivering deceptive testimony.
Trump and the Saudi king discuss major pact to confront Iran (Alternet)
President Donald Trump and the monarch of the repressive Saudi regime spoke on the phone for more than an hour on Sunday.
Steve Mnuchin, the former Goldman Sachs banker who President Donald Trump wants to be America’s next treasury secretary, is being alleged by Senate Democratic aides to have lied about his foreign investments during his confirmation hearing.
U.S.-Australia Rift Is Possible After Trump Ends Call With Prime Minister (NY Times)
A phone call between President Trump and the Australian prime minister is threatening to develop into a diplomatic rift between two stalwart allies after the two men exchanged harsh words over refugee policy, and Mr. Trump abruptly ended the call.
A scandal throws France’s presidential race wide open (The Economist)
“WE HAVE nothing to hide…I am afraid of nothing!” With indignant words and a clenched fist, François Fillon put on a muscular display of defiance at a campaign rally in Paris this week.
The new US Secretary of Homeland Security told Fox News late Wednesday that he hopes the US-Mexico border wall ordered by President Donald Trump can be built in two years.
Lie Witness News – Trump's Supreme Court Nominee Edition (Jimmy Kimmel Live)
We went out on Hollywood Blvd. and asked people what they thought about Donald Trump's decision to nominate Rob Kardashian to the Supreme Court and amazingly people believed it. With that said, we are both proud and ashamed to present what could very well be our most shocking #LieWitnessNews yet.
Life on the Home Planet
As California Drought Eases California Drought Eases Thanks To Storms (Assocaited Press)
Roaring storms that brought California almost a year's worth of snow and rain in a single month should make state water managers' Sierra snowpack survey Thursday a celebration, marking this winter's dramatic retreat of the state's more than 5-year-drought, water experts say.
3 Reasons You Need To Pay Attention To A New Report On Sea Level Rise (Forbes)
I often worry that the public and policymakers can get "report-fatigue." I do. As a scientist, I often cannot keep up with all of the reports and why the report du jour should capture my attention. However, a new report entitled, Global and Regional Sea Level Rise Scenarios For The United States, caught my attention.
Saudi Arabia Plans the World’s Cheapest Power With Solar and Wind (Bloomberg)
Saudi Arabia will award its first tender to build 700 megawatts of solar and wind energy in September, with the cost of power forecast to be the lowest in the world, Energy Minister Khalid Al-Falih said.
University of California, Berkeley Cancels Speaker After Violent Demonstration (The Wall Street Journal)
Officials at the University of California, Berkeley canceled the appearance of a right-wing speaker on Wednesday after protesters swarmed campus, lighting fires and smashing windows.
