wiar 06-17-18

Mary FanslauWhat I Am Reading

June 18 (Monday)

Markets
Tariffs, Nukes, Rates: More Sound Than Fury (BR)
Market Worry Shifts to Nafta’s Fate (W)
How Investors Can Protect Themselves in a Trade War (BR)
The Bull Market’s Next Test: Slower Earnings Growth (W)
Crunch time nears for highly leveraged US companies (FT)
Stock Dividends That Still Beat Out Bonds (BR)

Central banks
Long-Term Rate Outlook Is Surprisingly Tame (BR)

Europe
The Force Behind Europe’s Populist Tide: Frustrated Youth (W)

China
Global pharma bleeds talent to China start-ups (FT)

Trade
Xi to Counter Trump Blow for Blow in Unwanted Trade War (B)

Industries & companies
Autos: Sizing Up Tesla’s $10 Billion Debt Stack (W)
Autos: U.S. Auto Makers Put Smaller Engines in Big Trucks So They Guzzle Less Gas (W)
Financials: US banks poised for $170bn in shareholder payouts (BR)
Financials: Beyond Warren Buffett: What Berkshire Should Do (BR)
Tech: Microsoft Is Fixing Office, But Not Fast Enough (W)

Corporate finance
Reeling From Netflix, Media Turns to Mergers (BR)
Why Media Deal Making Could Free CBS From Viacom (W)

Technology
Bitcoin Could Break the Internet, Central Bank Overseer Says (B)

wiar 06-16-18

Mary FanslauWhat I Am Reading

June 16 (Saturday)

Markets
S&P 500 Rises as Central Banks Signal Gradual Tightening (W)
The junk-bond market has been blowing off the Fed — now it’s in for a rude awakening (FT)
Rates Back In Driving Seat For Markets, As ECB Ends Bond Buying (W)
Euro under pressure as ECB delivers ‘dovish taper’ (FT)
Look at banks and euro to judge central bank fallout (FT)

Central banks
ECB to End Bond-Buying Program in December as Crisis-Era Policies Wind Down (W)
Mario Draghi Might Never Get to Raise Rates at the ECB (B)

US
Retail Sales Soared in May (W)
U.S. Economy Seen Chugging Ahead of Europe and Asia (W)
IMF Sees U.S. Potential Growth at Half the Pace of White House Estimates (W)

Europe
U.S. Protectionist Stance Spooks Germany’s Economy (W)
Italy threatens to scupper EU’s Canada trade deal (FT)

China
China’s economy is starting to show its true colors again (BI)

US politics
Medicaid Expansion Gains Popularity in Red States (W)
Report Blasts FBI Agents, Comey Over Clinton Email Probe (W)

Geopolitics & trade
Trump Shaping China Tariff List to Focus More on High Tech (B)
US prepares to slap tariffs on $50bn in Chinese goods (FT)
Trump Wins Fight Over Tariff Power in Senate (B)
Pompeo Says China Will Maintain Sanctions on North Korea (W)

Industries & companies
FANGs: A $15,000 iPhone-Hacking Box Has Apple Playing Defense (W)
Financials: Morgan Stanley’s CEO let it slip just how many billions the bank is spending on tech (BI)
Financials: Citigroup’s CEO has revealed just how many billions the bank is spending on tech (BI)
Retail: Etsy Raises Fees, Angering Sellers but Sending Stock Soaring (W)

Corporate finance
Judge Clears AT&T, Time Warner to Close Deal (W)
WeWork in Talks With SoftBank to Double Valuation to as Much as $40 Billion (W)
China’s Investors Pour Into Western Biotech Startups (W)
European tech IPOs begin to rival US successes (FT)

Technology
Elon Musk Outlines How His Chicago ‘Loop’ Transport Will Work (B)
Zelle, a payments service created by the 7 biggest US banks, is on track to be more popular than Venmo in 2018 (BI)

Offbeat
Big Investors Don’t Want Wall Street Analysts Snooping on Them (W)
Morgan Stanley is using robots to scour its clients’ social media profiles (BI)
This Robotic Chessboard Is Like Something Out of Harry Potter (W)YRI
Trump’s contradictions are swinging the stock market this year (C)
Daily Markets Overview

Markets
Stocks Slide as Trade Tensions Heat Up (W)
Opinion: Headlines focusing on stock market risks ignore powerful catalysts (MW)
Trade Fears Threaten Best Year in Commodities Since 2002 (W)
OPEC Meeting, Tariff Concerns Weigh on Oil Prices (W)
The Bullish And Bearish Case For Oil

Central banks
[Outgoing NY-Fed President] Dudley Foresees Need for Fed Rate Hikes to Slow the U.S. Economy (B)
Bank of Japan Bucks Global Trend of Monetary Tightening (W)

US
U.S. Consumer Sentiment Rose in Early June (W)
U.S. Industrial Production Unexpectedly Declined in May (W)
Bonuses Hit a Fresh High This Year. That May Not Be Great News for Workers (W)

Europe
The EU Is Emerging as the New Sheriff for Global Financial Markets (B)
CDU closes ranks around Merkel as asylum feud rages (FT)

Japan
Japan says it will run budget deficit until 2025 (FT)

US politics
Trump Seeks to Discredit Russia Probe, Using Report as Brickbat (W)

Trade
China Delivers on Retaliatory Tariffs as Trade Feud Heats Up (W)
All the Threats and Tariffs in the U.S.-China Trade Conflict (N)
China Warns U.S. Firms: Buckle Up (W)
Why China thinks it can weather a US trade war (FT)
How the Trump-China Trade Fight Is Rippling Through Corporate America (B)
Chip Makers: We’ll End Up Paying Tariffs on Our Own Goods (W)
Trudeau fights to keep support after Trump attack (FT)

Industries & companies
FANGs: Apple signs up Oprah for original programming (FT)
Financials: The Finance Industry’s Incredible Ability to Keep the Money Rolling In (W)
Logistics: UPS’s $20 Billion Problem: Operations Stuck in the 20th Century (W)
Media: Fresh Off Time Warner Deal, AT&T Plans Aggressive Content Strategy (W)

Corporate finance
Why Companies Have the Urge to Merge (W)
Tech IPOs Surge for Another Day, But Why Is Anyone’s Guess (B)
Comcast Clears EU Hurdle in Sky Bid (W)

Technology
Luxury goods makers confront rise of the robot (FT)

wiar 06-15-18

Mary FanslauWhat I Am Reading

June 15 (Friday)

Markets
S&P 500 Rises as Central Banks Signal Gradual Tightening (W)
The junk-bond market has been blowing off the Fed — now it’s in for a rude awakening (FT)
Rates Back In Driving Seat For Markets, As ECB Ends Bond Buying (W)
Euro under pressure as ECB delivers ‘dovish taper’ (FT)
Look at banks and euro to judge central bank fallout (FT)

Central banks
ECB to End Bond-Buying Program in December as Crisis-Era Policies Wind Down (W)
Mario Draghi Might Never Get to Raise Rates at the ECB (B)

US
Retail Sales Soared in May (W)
U.S. Economy Seen Chugging Ahead of Europe and Asia (W)
IMF Sees U.S. Potential Growth at Half the Pace of White House Estimates (W)

Europe
U.S. Protectionist Stance Spooks Germany’s Economy (W)
Italy threatens to scupper EU’s Canada trade deal (FT)

China
China’s economy is starting to show its true colors again (BI)

US politics
Medicaid Expansion Gains Popularity in Red States (W)
Report Blasts FBI Agents, Comey Over Clinton Email Probe (W)

Geopolitics & trade
Trump Shaping China Tariff List to Focus More on High Tech (B)
US prepares to slap tariffs on $50bn in Chinese goods (FT)
Trump Wins Fight Over Tariff Power in Senate (B)
Pompeo Says China Will Maintain Sanctions on North Korea (W)

Industries & companies
FANGs: A $15,000 iPhone-Hacking Box Has Apple Playing Defense (W)
Financials: Morgan Stanley’s CEO let it slip just how many billions the bank is spending on tech (BI)
Financials: Citigroup’s CEO has revealed just how many billions the bank is spending on tech (BI)
Retail: Etsy Raises Fees, Angering Sellers but Sending Stock Soaring (W)

Corporate finance
Judge Clears AT&T, Time Warner to Close Deal (W)
WeWork in Talks With SoftBank to Double Valuation to as Much as $40 Billion (W)
China’s Investors Pour Into Western Biotech Startups (W)
European tech IPOs begin to rival US successes (FT)

Technology
Elon Musk Outlines How His Chicago ‘Loop’ Transport Will Work (B)
Zelle, a payments service created by the 7 biggest US banks, is on track to be more popular than Venmo in 2018 (BI)

Offbeat
Big Investors Don’t Want Wall Street Analysts Snooping on Them (W)
Morgan Stanley is using robots to scour its clients’ social media profiles (BI)
This Robotic Chessboard Is Like Something Out of Harry Potter (W)

wiar 06-14-18

Mary FanslauWhat I Am Reading

June 14 (Thursday)
YRI
Revenues Grow but Spending Grows Faster — and Deficit Explodes
Daily Markets Overview

Markets
U.S. Stocks Slip After Fed Decision (W)
Treasuries Curve Reaches Flattest Since 2007 on Steeper Fed Path (B)
ETF Investors Are Preparing for an Economic Slowdown (B)

Central banks
Fed Raises Interest Rates, Sets Stage for Two More Increases This Year (W)
Parsing the Fed: How the June Statement Changed From May (W)
The Fed’s New Dot Plot After Its June Rate Increase (B)
Powell to Hold Press Conferences at Every FOMC Meeting Next Year (B)
Fed tweak shows difficulty of trimming balance sheet (FT)
What If the Fed Just Lets Inflation Run for a While? (B)
Fed won’t push interest rates too high, award-winning forecaster says (MW)

US
Borrowing Costs Climb Along With Fed Rate Increases (W)
Rising Business Prices Point to Trend in Firming Inflation (W)
U.S. Is on Track to Become a Net Exporter of Energy (B)
Americans who were ‘scarred’ by the Great Recession changed the way they spend (MW) | Paper
Delusional millennials expect to become millionaires despite their massive debt

Europe
Eurozone Industrial Production Continues to Falter (W)
Immigration Standoff Shakes Merkel’s Fragile Government (W)
Macron Pushes to Privatize State Assets (W)

Geopolitics & trade
U.S. Preparing to Proceed With Tariffs on Chinese Goods (W)
Trump Says He May Upset China Over Trade as U.S. Tariffs Loom (B)
The Unexpected Winner From the Trump-Kim Summit: China (W)
Trump says North Korea no longer a nuclear threat (FT)

Industries & companies
Autos: Musk Bets Tesla Rally Has Legs With $24.9 Million Stock Purchase (B)
Energy: Side Effect of Rising Oil Drilling: Indigestion for Gas Frackers (W)
FANGs: Apple’s New App-Privacy Rules Expose Past Loopholes (W)
FANGs: Netflix Hits New Record After Goldman Predicts It Will Top AT&T (B)
Financials: Half of the World’s Too Big to Fail Banks Are in a Bear Market (B)
Homebuilders: Homebuilder Stocks Sink After Survey Shows Risk of a Slowdown (B)
Media: Why You Will See Bigger, Not Cheaper, Cable Bundles (W)
Tech: Twitter Has More News It Thinks You Want to Follow (W)

Corporate finance
Comcast Offers $65 Billion for Fox in Showdown With Disney (B)
Why the AT&T-Time Warner merger could be bad news for consumers of media (MW)
Toshiba Plans Biggest Japanese Market Buyback on Record (W)
LBO Deals Surge as Funds Put $1 Trillion in Cash to Work (W)
Stryker Says It Isn’t in Deal Talks With Boston Scientific (W)

Technology
AI, Blockchain Firms Lead WSJ’s Tech Companies to Watch List (W)
China’s Surveillance Will Soon Track Cars, Using RFID (W)

wiar 06-13-18

Mary FanslauWhat I Am Reading

June 13 (Wednesday)

Markets
Stocks Shrug Off Trump-Kim Talks (W)
Investors increasingly jittery about corporate debt burdens — BAML (FT)
Big banks slip into bear market territory as rates rise (FT)

Corporate finance
Judge Rules AT&T Can Acquire Time Warner (W)
Decision Sets Up Comcast’s Fox Bid (W)
Revolve, Online Clothing Retailer, Prepares IPO for Late 2018 (W)

Central banks
Markets Take It Easy as ECB Edges Toward Exit (W)
Is Federal Reserve set to retire low-rates guidance? (FT)
Powell Looks at Following All Fed Meetings With a Press Conference (W)
Senate Panel Advances Fed Nominations, Including Clarida as Vice Chairman (W)

US
There’s no denying the U.S. economy’s remarkable strength (WP)
The economy is humming. So why do experts foresee a recession in 2020? (USA)
Consumer Prices Post Largest Annual Growth in More Than Six Years (W)

Europe
France hits out at Italy after migrants turned away (FT)

US politics
U.S. Budget Deficit Widens 23% on Weak Revenue Growth (W)

Trump & Kim
Trump, Kim in New Phase of Diplomacy (W)
Trump’s Approach on North Korea a Test of Ties With Asian Allies (W)
Democrats accuse Trump of ‘anaemic’ deal with Kim (FT)
Trump Had a Movie Made Just for Kim Jong Un (B)

G-7
Pompeo Says U.S. Relationship With G-7 Still Strong Despite Public Fight (W)
Trump Says Trade Spat Will Cost Canada ‘a Lot of Money’ (W)
White House Trade Official Navarro Apologizes for Insulting Canada’s Trudeau (W)
BRICs Inventor Says G-7 ‘Irrelevant’ Because China and India Are Left Out (B)

Trade
Opinion: Trump gets it backwards when he says the U.S. is a ‘piggy bank that everybody’s robbing’ (MW)

Industries & companies
Autos: Tesla Cutting About 9% of Global Workforce (W)
FANGs: Apple Tries to Stop Developers Sharing Data on Users’ Friends (B)
Materials: Glencore Unveils $5.6 Billion Restructuring of Congo’s Katanga Mining (W)
Media: ‘Fortnite’ Joins Nintendo’s Switch, but Full Crossplay Stays Elusive (W)
Real Estate: Landlords Are Practically Giving Malls Away (B)

Offbeat
New Accounting Rules Affect When Revenue Is Booked (W)
Starting Law Firm Associate Salaries Hit $190,000 (W)

wiar 06-12-18

Mary FanslauWhat I Am Reading

June 12 (Tuesday)

YRI
Investors Return Home as Small Caps Lead the Way (W)
Daily Markets Overview

Markets
The Return of the Political-Risk Trade (W)
Quant Funds Are Selling Stocks With Hidden Volatility Building (B)
Electric-Vehicle Frenzy Sweeps Up Once-Unloved Metal: Nickel (W)
Trade tension fails to derail stronger US dollar (FT)
Mexico’s Peso remains the bellwether for EM (FT)

Central banks & IMF
The Fed has a surprise in store that could mean an early end to interest rate hikes (C)
Will the Fed Set Off a Recession Alarm? (W)
Lagarde Says Clouds Over Global Economy Are ‘Darker by the Day’ (B)

Europe
Germany’s SPD promises reform after critical report (FT)
France tells its banks to set aside more capital (FT)
Italy’s new government wants to deport 500,000 people (E)

US politics
As Net Neutrality Ends, Activists Push Congress to Restore Obama-Era Rules (W)
Companies in Limbo as States Adjust Taxes to Federal Overhaul (W)

Geopolitics & trade
Kim Jong Un Set Deadline for Ending Summit, Officials Say (B)
Summit Success Tied to Kim’s Turn to Economy (W)
Pompeo Says U.S. Relationship With G-7 Still Strong Despite Public Fight (W)
Macron resolute on trade as Trump bromance cools (FT)
American firms will be hit hard by retaliatory tariffs (E)
Chinese, Russian Presidents Lead U.S. Criticism at Regional Summit (W)

Industries & companies
Financials:  HSBC CEO Promises to Invest $17 Billion in Technology, Asia Growth (W)
Financials: ETF price war extends to new corners of the market (FT)
Tech: Microsoft Invests in Exclusive Games (W)

Corporate finance
Corporations Push Profits Into Tax Havens as Nations Struggle in Pursuit (W)
‘This Is the Uber Market’: Tech IPOs Soar Past Their FAANG Peers (B)
China’s Xiaomi Lost $1.1 Billion in the First Quarter (W)
Stryker Makes Takeover Approach to Boston Scientific (W)
Mars Expands in Pet Care With Deal for European Vet Firm (W)

Technology
Artificial intelligence will improve medical treatments (E)
Invented at Duke, Financed in Beijing: Powerful Spy Camera Shows China’s AI Ambition (W)

Cryptocurrency
Cryptocurrencies Lose $42 Billion After South Korean Bourse Hack (B)
Wells Fargo Bans Cryptocurrency Purchases on Its Credit Cards (B)

wiar 06-11-18

Mary FanslauWhat I Am Reading

June 11 (Monday)

YRI
The Dow Gains 681 Points as There’s No Place Like Home (BR)
Daily Markets Overview

Markets
An Uneven Recovery in Stocks (W)
Tech Stocks Surge, but Anxieties Erode Valuations (BR)

Central banks
Now the Fed Must Reckon With Long-Term Strategy (W)

US
Auto Lenders Ramp Up Risk (W)
Just How Bad Off Is Social Security? (BR)

Europe
German Industry’s Bad News Just Keeps Coming (B)
Italy finance minister backs staying in euro (FT)

Emerging
Emerging-Markets Rout Boosts Contagion Fears (W)
Apocalypse now? No, but watch EMs for more tantrums (FT)
China Finds a Slower, Steadier Growth Path (BR)

US politics
Howard Schultz In the Oval Office? Not So Fast. (BR)

Geopolitics & trade
Trump Refuses to Sign G-7 (N)
U.S.-Canada Trade Feud Escalates After Fraught G-7 Summit (W)
Trump is presiding over extraordinary growth. G-7 leaders should notice. (WP)
Kudlow Blames Trudeau for ‘Betrayal’ Before North Korea Talks (B)
Trump: I’ll Know If Korean Summit Will Succeed ‘Within the First Minute’ (W)
Meeting With Kim Tests Trump’s Dealmaking Swagger (N)
China Becoming a Major Buyer of U.S. Cotton After Years of Stockpiling (W)

Industries & companies
Airlines: Southwest Airlines’ Stock Is Flying Under the Radar (BR)
FANGs: Amazon Blasted Over China Echo Factory Conditions (B)
Media: Electronic Arts Embraces Subscriptions for New PC Games (W)
Pharma: Big Pharma’s Tempting Payouts (BR)
Retail: A Year After Amazon Devoured Whole Foods, Rivals Are Pursuing Countermoves (W)
Tech: How Batteries Will Change the Power Business (BR)

Corporate finance
KKR Nears Deal to Buy Envision Healthcare for About $5.5 Billion (W)
Chinese Firm’s Takeover of Genworth Financial Passes U.S. Security Review (W)
Comcast, Disney Chase India’s Shooting ‘Star’ in Fox Deal (W)
Loews Dangles Buyout of MLP, Angers Investors (BR)

wiar 06-09-18

Mary FanslauWhat I Am Reading

June 09 (Saturday)

YRI
‘Bond Vigilantes’ Inventor Explains Why They Showed Up In Italy (B)
Daily Markets Overview

Markets
The $300 Billion FAANG Surge Lives Another Week (B)
What Regulatory Worries? Global Tech Stocks Reach New Heights (W)
Money Markets See Biggest Inflows Since 2013 in Run for Cash (B)
Convertibles surge highlights late stage of credit cycle (FT)

China
China’s Trade Surplus Narrows—but Not With the U.S. (W)

Geopolitics & trade
Trump Tariffs Are Just a Blip in the March of Free Trade (B)
Trump calls on G7 to readmit Russia as trade rift widens (FT)
Trump lashes out at Canada and France ahead of G7 (FT)
Trump, Trudeau swap jokes but hold firm in trade dispute (R)
France’s Macron sees way forward on trade, Trump says working together (C)
Lawmakers Take Aim at Chinese Tech Firms (W)

Industries & companies
FANGs: Apple, Suppliers Drop After Report of Cut in iPhone Orders (B)
FANGs: Facebook Gave Some Firms Special Access to Data After Cutoff (W)

Technology & cybersecurity
U.S. Says It Reclaimed Supercomputer Crown From China (W)
China hacked sensitive U.S. Navy undersea warfare plans: Washington Post (R)

wiar 06-08-18

Mary FanslauWhat I Am Reading

June 08 (Friday)

Markets
Copper Toys With Four-Year High (W)
Why a Treasuries Bear Market May Not Live Up to the Hype (B)
Brazilian political turmoil unsettles Wall Street (FT)
Rebound for eurozone bank stocks fizzles out (FT)
Americans Are Sending Billions to China (Tech Crunch)

Central banks
Watch the Fed’s balance sheet, not interest rates (FT)
Bernanke Says U.S. Economy Faces a ‘Wile E. Coyote’ Moment in 2020 (B)

US
Americans’ Wealth Surpasses $100 Trillion (W)
High U.S. Home Prices Cut Both Ways, Dilemma for Repeat Buyers (B)
Coming To A Workplace Near You: Ex-Convicts (NYP)
Was the Gig Economy Overblown? (W)
New warnings about cuts to Social Security and Medicare are a reason to worry (MW)

Emerging
Argentina agrees $50bn financing deal with IMF (FT)

Geopolitics & trade
‘Get Moving’: How Trump Ratcheted Up the China Trade Feud (W)
China’s ZTE to Pay $1 Billion Fine in Settlement With U.S. (W)
Pompeo urges US-China calm ahead of N Korea summit (FT)

Industries & companies
FANGs: Software bug revealed Facebook users’ private posts (FT)

Technology
Google lays out AI rules in wake of staff protests (FT)

Offbeat
Buffett, Dimon Team Up to Curb ‘Unhealthy Focus’ on Quarterly Earnings (W)

wiar 06-07-18

Mary FanslauWhat I Am Reading

June 07 (Thursday)

Markets
Stocks Rise on Latest Global Trade Signals (W)
Trade War Yanked $1.25 Trillion From U.S. Stocks, JPMorgan Says (B)
Markets hit as ECB officials strike upbeat note (FT)
Eurozone bond yields rise on ECB remarks on stimulus (FT)
Muted euro reaction on hawkish ECB signals nerves (FT)

Central banks
ECB Official Indicates Next Meeting Is Key to Bond-Buying Decision (W)

US
U.S. Productivity Rose Less Than Expected in First Quarter (W)
Why U.S. Prime-Age Workforce Participation Lags Behind Other Nations (W)
What We Know and Don’t Know About Declining Labor Force Participation (Brookings, 2017)

Emerging
China eyes role as world’s power supplier (FT)
El-Erian Warns Brazil May Be Next Emerging-Market Domino to Fall (B)

US politics
Top GOP senators are organizing a plan to take control of Trump’s tariffs, and it might actually work (BI)
Ryan, Like Gowdy, Says FBI’s Trump Campaign Probe Was Appropriate (W)

Geopolitics & trade
After Tariffs, U.S. Allies Coordinate Retaliation Efforts (W)
EU presses ahead with retaliation to US tariffs (FT)
NATO Allies Bristle Over U.S. Tariffs Pinned to Security Threats (W)
Singapore Gears Up as the Trump-Kim Show Gets Ready to Roll (W)
Why a flexible Trump unnerves an unyielding Abe (FT)

Industries & companies
Airlines: Climbing Fuel Costs Push Airlines to Raise Ticket Prices (W)
FANGs: Facebook Confirms Data-Sharing Deals With Chinese Firms (W)
FANGs: Facebook faces an uphill struggle to regain trust (FT)
FANGs: Google braced for EU penalty over abuse of dominance (FT)

Corporate finance
China regional bank IPOs set to raise $14bn (FT)
GitHub Is Microsoft’s $7.5 Billion Undo Button (B)
Fortive Offers $2.7 Billion for J&J’s Medical-Equipment Sterilization Business (W)
Twitter Plans to Sell $1 Billion in Convertible Debt (W)

Offbeat
The millennial moment — in charts (FT)