Marc Ross Daily
August 8, 2019
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
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Naomi Osaka, Paulo Dybala, ‘Easter Eggs’, Spanish Steps, 'Dad Sneakers', Jeremy Corbyn
✔️ Eat less meat to save the Earth, urges UN
✔️ A Navarro recession?
✔️ Can Britain’s top bookseller save Barnes & Noble?
✔️ Atomik vodka from the exclusion zone brings cheer to Chernobyl
✔️ Rooney revived DC United but Europe still clearly trumps MLS
Bloomberg: China sets yuan fixing stronger than expected, soothing nerves
PBOC reinforcing message it is seeking stability, analyst says
Reference rate set weaker than 7 for the first time since 2008
China exports stage surprising turnaround in face of trade battle: WSJ reports, Chinese exports rebounded in July thanks to increased shipments to Europe and Southeast Asia, but economists expect the turnaround to be short-lived.
Shuli Ren: China’s hand is stronger than Trump thinks: Beijing is less concerned about capital flight than in the past and could easily let the yuan weaken further.
US agencies barred from buying Huawei equipment: FT reports, Trump administration rule also covers ZTE, Hikvision, Dahua and Hytera.
Nikkei: China's power struggle lies behind global market turmoil
Xi's inability to convene long-delayed economic meeting at heart of uncertainty.
FT: China’s new renminbi level set to pressure Asia currencies
Central bank fixes midpoint for trading band above 7 to the dollar.
China blames US for backing Hong Kong 'violent separatists': DW reports, the US should stop sending the wrong signals to "violent" protesters in Hong Kong, China has warned. Washington has raised a travel warning as further demonstrations are planned.
Hong Kong police draw protester rage, but Beijing doesn’t think they’re tough enough: WSJ reports, Hong Kong’s police are caught between a local population that accuses them of inflaming protests by using excessive force and mainland authorities who are urging them to get tougher to end the crisis.
FT: China media attack Cathay over Hong Kong protests
The airline warned it could ‘pay a painful price’ after staff take part in demonstrations.
Reuters: More Hong Kong protests planned as US raises travel warning
Australia also warned its travelers in an updated advisory.
Australian lawmaker likens China threat to Nazi Germany: DW reports, China has said it "strongly deplores" remarks by a prominent Australian lawmaker that compared Beijing to Nazi Germany and the Soviet Union under Joseph Stalin.
Andrew Hastie, the head of Australia's parliamentary intelligence committee, wrote in the Sydney Morning Herald that China will test Australia's democratic values, economy, and security over the next decade.
Nikkei: Chinese students and US universities become pawns in the trade war
America clamps down on visas while China urges students to stay away.
Judo helps Japan get to grips with China's expansion in Pacific: Reuters reports, the sport is part of a wider diplomatic effort in the Pacific by the United States and its allies, including Japan, to counter the growing influence of China, which has ramped up its sports programs in the region. Sometimes called “soft” or “cultural” diplomacy, such programs can extend beyond sports to language exchanges and the arts, with the aim of advancing foreign policy goals.
Move over Chanel: North Korea's 'raccoon eye makers' get state push: Reuters reports, North Korea is encouraging its beauty-conscious middle-class women to choose domestic cosmetics over foreign brands in an effort to boost self-reliance as international sanctions deepen.
High-level cyber intrusions hit Bahrain amid tensions with Iran: WSJ reports, suspected Iranian hackers infiltrated infrastructure and government computers in the Persian Gulf nation of Bahrain, raising fears that Tehran is stepping up its cyberattacks.
In 1980, Detroit, the United States, gave Saddam Hussein a key to the city out of recognition of donations he made to local churches.
FT: Portugal lures foreigners with tax breaks and anti-populist stance
Immigrants and residents see the nation as a haven from populism and division. The country is attracting foreign investors and migrants thanks to its perceived open attitude to foreigners and a low crime rate
Philip Stephens: Europe must set its own digital rules: Although to the libertarian high priests of the internet, this would be heresy.
Jeremy Corbyn will tell Queen ‘we’re taking over’ if Boris Johnson loses power over no-deal Brexit: The Times reports, Jeremy Corbyn will go to Buckingham Palace in a taxi to tell the Queen “we’re taking over” if Boris Johnson loses a vote of no confidence, John McDonnell has said. The shadow chancellor said Labour was preparing to bring down Johnson’s government next month and form a “caretaker government” with cross-party support whose mission would be to block a no-deal Brexit.
Parliament is now in recess until the start of September and is only due to sit for about five weeks before the latest Brexit deadline.
FT: Russians feel the pain of Vladimir Putin’s regime
The police’s violent response to protesters’ demands in Moscow has intensified anger over a flatlining economy.
India arrests hundreds of Kashmiri academics, activists and politicians: The Times reports, more than 500 people have been arrested and scores of opposition politicians have been detained in Indian-controlled Kashmir as the government steps up a sweeping crackdown on dissent after imposing direct rule on the disputed Himalayan region. Academics, business leaders and activists were among hundreds seized during overnight raids in the capital, Srinagar, and throughout the region.
India urges Pakistan to restore diplomatic ties, keeps lid on Kashmir: Reuters reports, India on Thursday urged Pakistan to review its decision to downgrade diplomatic ties over the withdrawal of special status to Kashmir, saying it was an internal affair and aimed at developing the revolt-torn Muslim majority region.
LAT: To rein in global warming, healthy forests, and sustainable diets are key, UN says
The Times: Eat less meat to save the Earth, urges UN
Global meat consumption must fall to curb global warming, reduce growing strains on land and water and improve food security, health, and biodiversity, a United Nations report on the effects of climate change concluded.
IPCC report: The world gets hungrier, but the land is exhausted – from us and from climate change: DW reports, the UN's scientific body on climate change highlights in a new report the strong connection between land use and climate change. A radical change in the food system is key to people's livelihoods and health worldwide.
NYT: Warren Joins O’Rourke in calling Trump a white supremacist
WP: Warren, O’Rourke say they consider Trump to be a white supremacist
LAT: Biden says Trump enables white supremacists, compares him to George Wallace
Sidelined on the national stage, US governors are frustrated with Washington: WP reports, for the first time in a generation, no sitting or former governor is a front-runner for either political party’s presidential nomination.
House committee files suit to force ex-White House counsel to testify: WSJ reports, the lawsuit, filed in US District Court for the District of Columbia, marks an important step in the effort to open an investigation into impeaching Trump.
Twitter freezes McConnell campaign account for posting video of protester’s violent threats: WP reports, the social media company won’t unlock the account unless the campaign agrees to remove the video.
WSJ - Editorial: A Navarro recession?
Trade and currency mistakes are eroding economic growth.
Conor Sen: History hints at how Trump's tariffs will hurt Americans: The latest round would take $30 billion from households. Think back to some surges in gasoline prices for a sense of how that feels.
CEO confidence and capital spending have tailed off since the trade war escalated in 2018, and the falloff is beginning to affect economic growth.
NYT: Puerto Rico Supreme Court ousts new governor, and another is sworn in
In short order after the high court ruling, Pedro R. Pierluisi, who had filled the position since Friday, stepped down. Wanda Vázquez, the former secretary of justice, took the oath as governor, just the second woman to hold the office.
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.
Broadcom is nearing a deal to buy Symantec’s enterprise business.
Leslie Wexner, the billionaire behind Victoria’s Secret, said his former money manager Jeffrey Epstein misappropriated more than $46 million of his fortune.
Honda to move Accord hybrid production from Japan to Thailand. The automaker joins parade of rivals investing more in Southeast Asia.
Adidas said Thursday its strong growth continued into the second quarter, seeing its biggest problems in overcoming bottlenecks in its supply chain.
Andrea Felsted: Adidas thinks beyond the craze for “Dad Sneakers”: The German sportswear giant disappointed investors by not raising its earnings guidance, but its race against Nike is a marathon not a sprint.
Reuters: Study shows Apple devices in combo with apps could identify dementia
Can Britain’s top bookseller save Barnes & Noble?: James Daunt fought Amazon and rescued the country’s biggest bookstore chain. Now comes Chapter 2. https://nyti.ms/2MJ9gbX
Barnes & Noble’s new chief executive wants to run America’s largest bookstore chain more like a collection of 627 independent stores.
Salesforce to buy Israel's ClickSoftware for $1.35 billion.
The secret history of ‘Easter Eggs’: Yes, Google, Tesla, Amazon, and others are still hiding quirky software surprises in their products, mostly to give you a chuckle. https://nyti.ms/2MOkgVk
Sitting on Rome’s famous Spanish Steps can now cost you a serious fine: WP reports, after years of planning, Rome has implemented rules prohibiting people from sitting on major attractions.
Romans critical of Spanish Steps sitting ban: DW reports, citizens of Rome took to social media to accuse the city of having the wrong priorities. "The Eternal City" has been dealing with the damage, litter, and congestion caused by overtourism for years.
Atomik vodka from the exclusion zone brings cheer to Chernobyl: The Times reports, The vodka, which has been given the brand name Atomik, has been produced from grain grown in an area of Ukraine that was abandoned in 1986 after the nuclear reactor meltdown that contaminated much of Europe. Testing suggests that it is as safe to drink as any other vodka and Jim Smith, professor of environmental science at the University of Portsmouth, who is leading the project, believes that commercial production could give the Chernobyl region a sorely needed economic boost.
BREAKING: Juventus pull the plug on Paulo Dybala's deal to Tottenham, per @bbcsport_david
Guardian: Wayne Rooney revived DC United but Europe still clearly trumps MLS
The former England captain has been brilliant during his brief career in the States. But MLS is still a temporary home for the best players in the league.
Smaller baseball stadiums: As the industry discovers the shrinking desire for live baseball, a new wave of stadiums are coming to the surface, revealing the obvious desire to further shrink the MLB ballpark. bit.ly/33hx24t
Highest paid female athletes, according to @forbes:
Serena Williams, $29.2M
Naomi Osaka, $24.3M
Angelique Kerber, $11.8M
Simona Halep, $10.2M
Sloane Stephens, $9.6M
Caroline Wozniacki, $7.5M
Maria Sharapova, $7M
Enjoy the ride + plan accordingly.