Marc Ross Daily
August 15, 2019
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
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The Navarro Recession, Microplastics, John Hickenlooper, Mark Sanford, TOSU, US Women’s Soccer
✔️ Dow sheds 800 in biggest drop of year
✔️ Scientists say atmosphere carrying microplastics to the Arctic
✔️ Sanford points to Labor Day decision on challenge to Trump
✔️ Can the word ‘the’ be trademarked?
✔️ US Women’s Soccer team ends mediation talks without agreement
Dow sheds 800 in biggest drop of year: WSJ reports, the Dow industrials posted their largest decline this year and bond markets sent a recession warning signal, highlighting anxiety on Wall Street about the prospects for the decade-long economic expansion.
Markets are shaken by signs of global economic trouble: NYT reports, financial jitters were felt worldwide after new data showed the German economy hurtling toward a recession and a slowdown in China. The trouble for the countries indicated how hard they’ve been hit by President Trump’s tariffs and it increased concern about the US economy.
US stocks slide 3% as bond market signals recession: FT reports, weak data sends debt yields in US and the UK lower while Asian markets mirror falls.
WSJ - Editorial: The Navarro recession, II: Evidence of a tariff-inspired slowdown spooks the markets.
Neil Irwin: Global economic trouble is brewing, and the trade war is only part of it: A clear signal from the bond market that investors are pessimistic about the economy’s longer-term prospects.
China curbs gold imports as trade war heats up: Reuters reports, China has severely restricted imports of gold since May, according to bullion industry sources, in a move that could be aimed at curbing outflows of dollars and bolstering its yuan currency as economic growth slows.
Trump tells China to address Hong Kong protests before talking trade: DW reports, Trump has suggested China resolve ongoing tension with Hong Kong before hashing out a trade deal with the US. The remarks follow his decision earlier this week to postpone imposing further tariffs on Beijing.
Trump ties trade deal to China action in Hong Kong: WSJ reports, Trump suggested a “personal meeting” with China’s President Xi Jinping to discuss the escalating crisis in Hong Kong and warned China it must respond “humanely” to the protests if it wants to strike a trade deal.
Trump resists aides’ pressure to back Hong Kong protesters: Politico reports, the president is singularly focused on cutting a trade deal with Xi Jinping, officials say.
US lawmakers urge support for Hong Kong protests: FT reports, Trump has so far avoided publicly criticizing China as crackdown fears grow.
West reluctant to criticize China over Hong Kong stance: DW reports, clashes in Hong Kong have grown more violent and Beijing has ramped up its intimidation tactics as protests enter their 11th week. But so far, the West has shied away from openly chiding China.
Reuters: Hong Kong braces for more protests as world leaders urge calm, talks
@ForeignAffairs: “Xi has harshly suppressed internal dissent, executed a sweeping anticorruption campaign, and adopted a bold, expansive foreign policy that has directly challenged the United States. Few foresaw the extent of Xi’s ambition before he took over as leader.”
NYT - Editorial: Hong Kong’s challenge to Xi Jinping’s iron rule: The protesters, for the most part, are not terrorists or even radicals. But they are a threat to his monopoly on power.
FT - Editorial: A military crackdown in Hong Kong would be a tragic error: Armed intervention would harm China’s long-term economic interests.
Daniel Henninger: Does Hong Kong matter? Trump should know better than anyone that these protests in Hong Kong are about freedom.
'Made in China' at risk as workers flock to service sector: Nikkei reports, the once mighty manufacturing industry struggles to compete in wages.
The world’s gadget makers are splitting along US-Chinese lines: Bloomberg reports, electronics makers are increasingly moving to get out of the way of Trump's tariffs.
South Korea’s won faces further hit from Japan trade war: FT reports, currency is already the worst performer in Asia due to slow global growth.
Italy: New Genoa bridge to be built by April: DW reports, PM Giuseppe Conte pledged a new bridge symbolizing "rebirth" would be completed by April. Forty-three people died when the Morandi bridge collapsed last year.
Italy’s rival parties look to block Salvini’s bid for power: WSJ reports, the bid for power by Italian nativist politician Matteo Salvini has hit an unexpected obstacle: His populist and establishment rivals are trying to overcome their enmity to stop him from seizing control.
Italian government on the brink — what happens next? FT reports, prime minister faces vote of no confidence as Matteo Salvini seeks early elections.
Debt and doom loops: The eurozone's Italian nightmare: DW reports, Brexit hogs the headlines, but its significance to the EU economy pales in comparison with Italy. An anti-euro party could soon be running a country that owes European banks nearly half a trillion of that currency.
Pelosi says US-UK trade deal hinges on Good Friday pact: FT reports, ‘no chance’ Congress will jeopardise Northern Ireland peace deal, Speaker says.
Bloomberg: UK’s Corbyn plans caretaker government to block No-Deal Brexit
Labour bloc plans 'radical' move to push through Brexit deal: Guardian reports, Labour MPs opposed to a second referendum are considering a “radical and dramatic intervention” to make clear to Jeremy Corbyn and Boris Johnson they are prepared to vote for a Brexit deal, with one estimating that dozens of colleagues are now ready to back the withdrawal agreement. Stephen Kinnock, the Labour MP who coordinates around 30 MPs in a group called Respect the Result, said he believed that passing the withdrawal agreement was the most certain way of stopping the UK crashing out without a deal.
FT: Pakistan’s Imran Khan faces limited options on Kashmir
Kashmir: Imran Khan says Pakistan will 'teach India a lesson': Guardian reports, Pakistan PM says army is preparing to respond to anticipated Indian aggression in region.
Kashmir: Pakistan's Khan vows to 'fight until the end': DW reports, during a visit to Kashmir, Prime Minister Imran Khan accused India's military of "planning" action in regions controlled by Pakistan. Khan said Pakistan was "fully prepared to respond."
Modi seeks reforms to India's stuttering economy: Nikkei reports, a landslide victory gives reelected prime minister a second chance at 'Modinomics.'
Brazil: Thousands of women rally against Bolsonaro's 'genocidal policies': DW reports, organizers said some 100,000 people, mostly women, had attended the demonstration in the capital, Brasilia. Protesters slammed populist President Jair Bolsonaro, whom they labeled "misogynist, racist and homophobic.”
Canada’s Trudeau found to have broken conflict-of-interest law: WSJ reports, Canada’s ethics watchdog ruled that Prime Minister Justin Trudeau broke conflict-of-interest laws by trying to steer the then-attorney general away from criminally prosecuting a Montreal company.
Reuters: Canada's Trudeau accepts he breached ethics rules, refuses to apologize
Can robots outperform lawyers in resolving disputes?Algorithms and big data are entering the often shrouded world of alternative dispute resolution.
Scientists say atmosphere carrying microplastics to the Arctic: DW reports, microscopic particles of plastic are entering the atmosphere and being dumped by snow, new research found. The study raises questions about the amount of microplastics humans and wildlife are inhaling.
Trump disapproval rises to near record: Trump's disapproval rating has jumped to 56 percent in a Fox News survey released Wednesday, just one point shy of the record high in Fox News polling. The survey found a 5 percentage point increase in Trump's disapproval from last month. The only time his disapproval rating was higher, according to Fox News, was when it reached 57 percent in October 2017.
“He’s mentally declining. He’s losing his step here in terms of how he’s thinking about human beings, and he’s creating a corrosive, socially dividing cancer in the country that’s not worth the economics.” -- Former White House communications director Anthony Scaramucci, quoted by the Washington Post, on President Trump.
The Hill: Pelosi refers to McConnell as 'Moscow Mitch'
WSJ: Hickenlooper plans to end Democratic presidential campaign
He may seek the seat of Republican Sen. Cory Gardner.
O’Rourke resuming presidential run with ‘major’ Texas speech: AP reports, Beto O’Rourke will formally rejoin the presidential race on Thursday, resuming a campaign that has been suspended for nearly two weeks with what he promises will be a “major address to the nation” from his hometown of El Paso, Texas, where a mass shooting killed 22 people. The Democratic former congressman will outline “the path forward” for his presidential campaign “and for the future of the country.” He will then resume traveling the nation as a 2020 White House hopeful, though his advisers have yet to announce where he’ll go.
The Post and Courier: Biden keeps large lead in SC’s 2020 Democratic presidential primary
Joe Biden — 36%
Elizabeth Warren — 17%
Bernie Sanders — 16%
Kamala Harris — 12%
Pete Buttigieg — 5%
Cory Booker — 4%
Tulsi Gabbard — 2%
Julián Castro — 1%
John Delaney — 1%
Amy Klobuchar — 1%
Beto O’Rourke — 1%
Tim Ryan — 1%
Tom Steyer — 1%
Andrew Yang — 1%
Michael Bennet — 0%
Steve Bullock — 0%
Bill de Blasio — 0%
Kirsten Gillibrand — 0%
John Hickenlooper — 0%
Jay Inslee — 0%
Wayne Messam — 0%
Seth Moulton — 0%
Joe Sestak — 0%
Marianne Williamson — 0%
Fox News: Sanford points to Labor Day decision on primary challenge to Trump
Out later this year: Free, Melania: The Unauthorized Biography by Kate Bennett.
BRIGADOON IN CINCINNATI
Brigadoon Cincinnati 2019 | Salon Dinner
Brigadoon is bringing together a peerless group of entrepreneurs and thought leaders for our second annual event in Cincinnati, Ohio.
We will gather for a special dinner at Sotto on Thursday, October 24.
More details + tickets - here.
Macy’s lowered its full-year earnings outlook after missing profit expectations in the latest quarter.
Kara Swisher: Who killed Tumblr? we all did: What plagues the internet today hit the social media platform hard and early.
Chinese robovan startup aims to go from theme parks to city streets: Nikkei reports, year-old Neolix on path toward open road but still faces hurdles.
Founder's grip on WeWork may be hard for investors to stomach: Reuters reports, investors in the upcoming initial public offering of WeWork's parent, The We Company, are being asked to lower their standards for corporate governance beyond what other technology startups have demanded, securities law experts said on Wednesday.
Can the word ‘the’ be trademarked? WP reports, the Ohio State University is trying. But OSU (or is it TOSU?) could hit a snag: Marc Jacobs, the apparel company, beat Ohio State to the punch when it comes to that three-letter word.
Ohio State University, home of Buckeyes, applies to trademark the word 'the': Guardian reports, Ohio State University wants to trademark the word “the” when used as part of the school’s name on university merchandise. The Columbus Dispatch reports the school submitted a trademark application this month to the US Patent and Trademark Office. “Like other institutions, Ohio State works to vigorously protect the university’s brand and trademarks,” Davey told the Dispatch in a statement. “These assets hold significant value, which benefits our students and faculty and the broader community by supporting our core academic mission of teaching and research.”
US Women’s Soccer team ends mediation talks without agreement: WSJ reports, the two-day talks between the players and the US Soccer Federation were an effort to settle a gender-discrimination lawsuit.
As talks break down, US women's team turn to court: Reuters reports, the female players who sued the United States Soccer Federation (USSF) for equal pay reported that talks broke down on Wednesday and said they were now turning their attention to the courts where they are "eagerly look forward to a jury trial".
New Everest rules could greatly limit who gets to climb: NYT reports, Nepali officials proposed new regulations requiring mountaineers and expedition companies to prove that they have a certain level of experience.
Enjoy the ride + plan accordingly.