What I Am Reading

Oct 17 (Tuesday) Markets Bond Traders Get Yellen’s Green Light to Sell U.S., Buy Europe (B) State Street escalates price war over ETFs (FT) Commodities Growth in steel demand forecast to slow next year (FT) Palladium: This Metal Is Tearing up the Market in 2017 (NN) Central banks Taylor Impresses Trump for Fed Chairman, Warsh Slips (B) Europe Spain Gives Catalonia Thursday Deadline to Drop Secession Bid (W) China China’s Xi Approaches a New Term With a Souring Taste for Markets (W) China’s congress matters for investors this time (FT) US politics Corp. Tax Cut Would Boost Incomes, White House Says (W) GOP Tax Plan Would Make Mortgage Break Irrelevant (W) Trump Embraces McConnell in Search of a Tax Win (B) Geopolitics Nafta Demise Emerges as a New Risk for Investors (W) Tillerson says in US interest to stay in Iran nuclear deal (FT) Cybersecurity Significant Flaw Discovered in Wi-Fi Security Protocol (W) Industries & companies Financials: Credit Suisse targeted for break-up by hedge fund (FT) Media: Netflix’s Streaming Ambitions Don’t Come Cheap (B) Technology How Google’s Quantum Computer Could Change the World (W) Cryptocurrencies Early Bitcoin Investor Has Some Advice On How Much Money to Hold in Bitcoin (B) Fraud Isn’t Among the ‘Real Concerns’ RBC Chief Has With Bitcoin (B) Offbeat Astronomers just proved the incredible origin of nearly all gold, platinum, and silver in the universe (BI)

Oct 16 (Monday) Markets Black Monday 2.0: The Next Machine-Driven Meltdown (BR) Who Says This Stock Market Is Overpriced? (BR) The Coming Renaissance of Macro Investing (BR) Rethinking Junk Bonds (BR) Funds Barbarians Open Their Gates: Blackstone Seeks Retail Cash (W) Central banks Central Bankers Say Weak Inflation Could Prolong Monetary Stimulus (W) Yellen: Gradual Rate Increases Should Help Growth (W) | Speech Yellen Calls Inflation the ‘Biggest Surprise’ in the Economy (B) Kuroda: Bank of Japan Will Keep Pursuing Aggressive Easing (W) China’s Central Bank Chief Warns Corporate Debt Is Too High (B) China Central Bank’s Zhou Calls for Clarity in Public Finances (W) US The Not-So-Retiring Labor Force (BR) Europe Conservatives’ Loss in German State Election Is Blow to Merkel (W) Austrians Lean Toward Nationalist Government Led by a Millennial (B) China China’s Impact on Global Markets is About to Get Much Bigger (B) Xi Jinping has more clout than Donald Trump. The world should be wary (E) Emerging Emerging Markets Will Be Key Drivers of Global Growth (BR) US politics Congress to Tackle Health Care Again (W) Geopolitics Tillerson Pledges Diplomacy With North Korea ‘Until the First Bomb Drops’ (B) Nafta Demise Emerges as a New Risk for Investors (W) U.S. Officials Back Trump’s Stance on Iran (W) U.S. Presses for Changes in IMF, World Bank Policies (W) Industries & companies FANGs: Amazon Bookstores Offer Peek Into Whole Foods’ Future (W) Finanicals: Big Banks Lifted by Buybacks and Earnings (BR) Financials: PayPal’s Market Value Eclipses AmEx, Nears Morgan Stanley (W) Tech: UberEats on track to surpass $3bn in sales (FT) Technology China seeks dominance of global AI industry (FT) Your Next Home Could Run on Batteries (W)

Oct 14 (Saturday) Markets Get Ready, Europe: BlackRock Sees Trillions Headed for Your ETFs (B) Fink Sees More Systemic Risk Than the VIX Would Have You Believe (B) Fed commentary Rethinking Monetary Policy in a New Normal (Brainard, FRB) Prospects for Emerging Market Economies in a Normalizing Global Economy (Powell, FRB) Fed president James Bullard tells us why he disagrees with his colleagues about the need for more rate hikes (BI) What’s the Future of Interest Rates? The Answer’s in the Stars (Williams, FRB-SF) Fed’s Evans Says Latest Inflation Data Was Not ‘Encouraging’ (B) Balance-Sheet Normalization in the United States (Bostic, FRB-ATL) Central banks The Long-Awaited Fed Balance Sheet Taper Begins Today With Mortgages (B) Fed Contender Taylor Laments Central Bank’s Precrisis Monetary Policy (W) What You Need to Know About John Taylor (W) Summers Says Fed Should Be Less Theological About Independence (B) Fintech G-7 Finance Ministers and Central Bank Governors Release Cyber Security Report (US Treasury) The rise of a new kind of finance is setting off alarm bells at the Fed (BI) U.S. Faster Payments Governance Framework Formation Team announced (FRB) IMF Brings Policymakers Together to Foster Cooperation on Fintech (IMF) Cryptocurrencies Cryptocurrencies are ‘in the 3rd inning’ — and Wall Street is just getting started (BI) Jamie Dimon Said He Wouldn’t Talk About Bitcoin Anymore. That Lasted One Day (B) Bitcoin Competitors Are Being Built in Ex-Google Coders’ Laptops (B) US U.S. Retail Sales Rose 1.6% in September (W) Consumer confidence explodes to a 13-year high (BI) This Country Has Plenty of Jobs. Where Are All the Workers? (B) Demographics For Old and Young Americans, the Economy Couldn’t Look More Different (W) The share of Americans living without a partner has increased, especially among young adults (Pew) A closer look at who does (and doesn’t) pay U.S. income tax (Pew) China China’s trade data impressed in September (BI) Chinese Cities Buy Off Housing Glut With Borrowed Money (W) US politics Mnuchin Says Parts of Tax Plan Would Be Temporary (W) Trump Just Took Ownership of Obamacare’s Political Risks (B) Trump to End Insurer Subsidies (W) Social Security Benefits Expected to Get 2% Boost in 2018 (W) Geopolitics Trump Vows to End Iran Deal Himself if Congress Won’t Act (W) End-of-Nafta Jitters Emerge in Remote Corner of Global Markets (B) U.S. Demands Steel Tracking in Tough Nafta Push on Autos (B) China moves in as US pulls back from global bodies (FT) South Korea Needs to Diversify Trade Beyond U.S. and China, Finance Minister Says (W) Industries & companies Airlines: Boeing passenger jets have falsely-certified Kobe Steel products-source (R) Airlines: EasyJet in Talks for 25 Air Berlin Jets Based at Tegel Airport (B) Airlines: FAA Orders Inspections of Engines on Most A380s (W) Autos: Toyota and Mazda Seek $1 Billion Incentive Package for U.S. Plant (B) FANGs: Qualcomm Seeks China iPhone Ban, Escalating Apple Legal Fight (B) FANGs: Amazon Is Coming to the Amazon, Shaking Brazil Retailer Stocks (B) FANGs: Amazon Is Getting Into Sportswear (B) Financials: Bank of America Profit Climbs, Driven by Higher Interest Rates (W) Financials: Wells Fargo Posts Weaker Earnings (W) Pharma: Bayer to Sell Assets to BASF for $7 Billion (W) Tech: Samsung’s Leadership Crisis Deepens as CEO Plans Exit (W) Offbeat Death toll mounts from California’s wildfires Surge in Drone Safety Reports Prompts ‘Emergency’ Action at FAA (B)

Oct 13 (Friday) Markets Fed Study Suggests Trump May Have Fed to Thank for Stock Rally (B) Record $6.6bn flows into global equity funds (FT) The New Rules That Could Make ETFs Unstoppable (B) Central banks Trump Interviews Stanford Economist Taylor for Top Fed Job (W) Draghi Says ECB’s Negative Rates Have Been a Success (W) ECB policymakers hone in on stimulus extension at lower volumes (R) US U.S. producer inflation, labor market strengthening (R) Don’t Worry About Inflation. Solve the Housing Shortage. (B) US politics GOP Struggles to Win Over Dissidents on State, Local Tax Break (B) House GOP May Keep Partial State and Local Tax Deduction (W) Republicans eye alternatives for getting to 20 percent corporate tax rate (R) Economists Split Over GOP Tax Plan’s Long-Term Effects on Growth (W) Trump Signs Order Expected to Weaken Health-Care Law (W) Trump’s Chief of Staff Says He’s Not Quitting or Being Fired (B) Geopolitics US demands World Bank overhaul of lending to China (FT) Trump Says Separate Trade Pacts With Canada, Mexico Could Replace Nafta (W) Palestinian Authority, Hamas Reach Reconciliation Deal (W) Three scenarios if Trump decertifies Iran nuclear deal (FT) Facebook to Disclose Targets of Russia-Backed Election Ads (W) Industries & companies Autos: GM to Idle Detroit Car Factory Amid Slow Demand (W) FANGs: Amazon to Add 120,000 Holiday Workers, Same as Last Year (W) Financials: US banks pinched by Trump policy gridlock (FT) Financials: Cost Cuts, Credit-Card Lending Buoy Bank Earnings (W) Financials: Goldman Sachs Is Buying A House-Flipping Lender (W) Media: Cord-Cutters Sap AT&T’s TV Business (W) Tech: Samsung projects record Q3 profit on memory chip demand (FT) Technology Electric cars: China’s highly charged power play (FT) Cytotechnology Bitcoin Mania Takes Off as Cryptocurrency Surges Past $5,000 (B) Global Demand for Bitcoin Shifts Wildly in Response to Regulation (B) Dimon: ‘I’m Not Going to Talk About Bitcoin Anymore’ (B) Offbeat Officials Search for Missing in California Wildfires (W)

Oct 12 (Thursday) Markets A melt-up is likely gripping the market, and its ultimate demise could resemble the 1987 bust, Yardeni predicts (C) This Is How Trump’s Market Rally Stacks Up Against Other Presidents’ (B) Junk Bond Boom Reaches Far Corners of World (W) Japan Shares Rise With Nikkei 225 Closing at Highest Since 1996 (B) China Orders Smooth Markets for Communist Party Congress (W) Central banks Fed on Track to Raise Rates Despite Weak Inflation, Minutes Show (W) Fed Minutes Show Support for Next Hike Was a Close Call for Some (B) Minutes of the Federal Open Market Committee, September 19-20, 2017 WSJ Survey: Kevin Warsh Seen as Trump’s Most Likely Pick to Lead Fed (W) IMF IMF Identifies Nine Big Banks Likely to Struggle With Profitability (W) Trump administration hits out at IMF over tax reforms (FT) US Record Job Openings Aren’t Enticing Workers to Quit (W) This Jump in U.S. Retail Sales and Inflation Isn’t What It Seems (B) AllianceBernstein Considers Moving Some Staff Away From New York (W) Suburban Offices Are Cool Again (B) Europe Spanish PM demands clarity on Catalan independence (FT) Inside His Palace, Catalan President Puzzled Over How to Avoid Checkmate (B) China Xi’s Legacy May Rest on the World’s Biggest Infrastructure Project [One Belt One Road] (B) China’s Next Five Years—Squeezing the People to Feed the State (W) The Big Winner From China’s Foreign-Aid Frenzy: China (W) US politics Bob Corker Is Just the Beginning of Trump’s Tax-Cut Problems (B) Can Trump Really Shut Down NBC? (B) House Panel Plans to Release Russia Ads After Facebook Meeting (B) Geopolitics Russia threatens severe curbs on US media (FT) China Protests U.S. Sailing Near Disputed Islands in South China Sea (W) Trump’s Nafta Goals: Dilute Pact’s Force, Loosen Regional Economic Bonds (W) Trump Calls Trudeau ‘a Great Friend’ With Nafta Tensions Running High (B) Cybersecurity Russia Has Turned Kaspersky Software Into Tool for Spying (W) North Korea Allegedly Hacked Antivirus Software in Defense Theft (W) North Korean Hack of U.S. War Plans Shows Off Cyber Skills (B) Industries & companies Autos: Aluminum Supplier Scandal Forces Toyota, Nissan to Check Car Safety (W) Consumer: Unilever takes steps to streamline operations (FT) FANGs: Alibaba Sizes Up Facebook, Amazon With R&D Splurge (W) FANGs: Amazon Welcomes Teens, Gives Parents the Purse Strings (W) FANGs: Kroger Must Admit Its Amazon Problem (B) FANGs: Facebook Unveils $199 Wireless Virtual-Reality Headset (B) Media: Fox Projects Up to $20 Million in Lost World Cup Ad Sales (B) Retail: Coach Changes Its Name to Tapestry (W) Tech: Galloway Says Big Tech Companies Have Reached a Breaking Point (B) Cryptocurrency Bitcoin Is Retaking Its Place as King of the Cryptocurrencies (B) Fans of Digital Currency Ether Can Now Buy ETNs—In Sweden (B) Offbeat Coming Soon to California: Cars Without a Human Behind the Wheel (B) Deadly California Wildfires Rip Through Once-Safe Areas (W)

Oct 11 (Wednesday) Markets How Trump’s tax plan could backfire on Wall Street (NN) What Trump Bump? Businesses Aren’t Borrowing from Banks (W) EM Bulls Need Only Fear Threats of Hawkish Fed, Slumping China (B) Nobel Economist Thaler Says He’s Nervous About Stock Market (B) Central banks & IMF Don’t Fear the Taylor (Rule) Fed; It May Not Look Much Different (B) IMF Raises Global Economic Outlook for This Year and 2018 (W) IMF upbeat as global economy enjoys growth spurt (FT) IMF Warns Against Complacency Even as Global Growth Gains Steam (B) World Economic Outlook, October 2017: Seeking Sustainable Growth (IMF) US American Households Spend Bigger Slice of Income on Debt Payments (B) For Some Struggling Malls, Churches Offer Second Life (W) Europe Catalans Retreat From Immediate Independence to Seek Talks (B) Rutte forms new Dutch government after 208 days (FT) US politics Trump Allies Fear His Corker Feud Is Putting the GOP Tax Plan at Risk (B) Trump Suggests He’d Beat Tillerson in an IQ Test (B) Trump’s Madman Theory Is Simply Crazy (B) Krugman Praises Paul Ryan’s Corporate Tax Reform Plan (B) EPA Issues Proposal to Withdraw Obama Power-Plant Rules (W) Congress Considers Low-Interest Loans for Puerto Rico (B) Geopolitics North Korea Suspected of Hacking U.S.-South Korean War Plans (W) Industries & companies Consumer: P&G Says Peltz Lost Bid for Seat; Activist Disputes Result (W) FANGs: Apple Strikes Deal With Spielberg’s Amblin for ‘Amazing Stories’ Reboot (W) FANGs: Jeff Wilke: The Amazon Chief Who Obsesses Over Consumers (W) FANGs: Russian revelations threaten to shake Facebook to its core (FT) Pharma: Pfizer Reviews Options for Consumer Healthcare Business (W) Restaurants: Starbucks CEO Sees Decades of Growth From Its Chinese Expansion (B) Retail: Pennies count as US grocers wage discount war (FT) Retail: Wal-Mart Plans Further Cost Cuts as Competition With Amazon Intensifies (W) Tech: Dell Bets $1 Billion on ‘Internet of Things’ (W) Technology SoftBank Leads $164 Million Bet on Digital-Mapping Startup Mapbox (W) Japan’s Satellite to Help Keep Self-Driving Cars—and North Korea—In Line (W) FAA Panel Splits on Drone Tracking Requirements (W) Mother Nature Thousands Forced to Flee as Wildfires Continue to Rage in California (W) Offbeat Police Change Key Piece of Timeline in Las Vegas Shooting (W) NFL Owners to Discuss Policy on Standing for Anthem (W) Trump Puts Spotlight on Sports Tax Breaks (W) Drivers Can Get Porsches on Demand With a $2,000-a-Month Subscription (B)

Oct 10 (Tuesday) Markets Wall Street pauses before earnings season (C) The Economy Is Humming. Bankers Are Cheering. What Could Go Wrong? (N) Financials and healthcare weigh on Wall Street (FT) How Bonds Will Trade Trump’s Fed Pick (B) Funds What ‘Liquidity’ Means for Fund Investors (W) ETF Trading Volume Slumps to Near Three-Year Lows (W) Oil OPEC Chief Says Floating Storage Is Shrinking (B) Central banks Central Banks Pull Back as Global Growth Picture Brightens (W) ECB: Banks’ Capital Buffers Are Big Enough to Cope With Higher Rates (W) Global Global Economy Set for Strong Growth Into 2018 (W) Political hotspots across globe keep investors cautious (FT) US A Four-Year Degree Is Still a Gateway to Greater Wealth in U.S. (B) Americans Face a Rising Risk of Dying Alone (B) Europe Amazon faces US tax bill after European ruling (FT) Apple’s Cook Meets Macron in Paris Amid Calls for Tech Taxes (B) Merkel Agrees to Cap Number of Refugees Entering Germany (W) Japan Investors relaxed over Japan’s election uncertainty (FT) Emerging What Contagion? Only Turkish Assets Are Suffering Nation’s Woes (B) US politics These Are the Tax Issues Threatening to Divide Republicans (B) The Trump administration just revealed how it wants to make going public easier for companies (BI) Report: A Financial System That Creates Economic Opportunities (US Treasury) | Press release Trump moves to scrap Obama coal-fired power rules (FT) Trump makes opening demands for ‘Dreamer’ deal — including funding for the wall (BI) Geopolitics & terrorism Google Identifies Russian Election Interference on Network (B) Russia threatens severe curbs on US media (FT) ‘Policy didn’t work!’: Trump tweets of North Korea after hinting at war (BI) Why the U.S. and Turkey Are Suddenly in a Major Standoff (B) France: the permanent state of emergency (FT) Industries & companies Autos: GM’s Conundrum: Too Many Factories Making Slow-Selling Cars (W) FANGs: Peering Inside Google’s $19 Billion Black Box (B) FANGs: Is Facebook’s model spinning out of control? (FT) FANGs: Amazon’s Sales Tax Fight Is Heating Up as States Crack Down (B) Industrials: Investors Just Placed Their 2nd Biggest Ever Bet on Industrials (B) Industrials: GE Gives Trian Board Seat as CEO Reviews Strategy (W) Pharma: California Drug Price Bill Becomes Law as Legal Fight Looms (B) Restaurants: Carl’s Jr. Sends Message to Amazon on Twitter: Please Buy Us (B) Retail: America’s Retailers Have a New Target Customer: The 26-Year-Old Millennial (W) Retail: Ikea turns to ecommerce sites in online sales push (FT) Technology Alphabet Gets Approval for Giant Balloons to Restore Puerto Rico’s Wireless Service (W) Betting on bitcoin is like betting on the internet in the 90s (BI) Want to Ditch Social Security Numbers? Try Blockchain (B) Offbeat Nobel Prize in Economics Awarded to Richard Thaler (W) Fire Ravages Napa Valley (W)

Oct 09 (Monday) Markets The Meltup Before the Storm? (BR) The bubble without any fizz (E) October’s Not as Bleak as Its Reputation for Stock Markets (W) American public pensions suffer from a gaping hole (E) [Stock-pickers:] Investors once seen at risk of extinction are headed for their best year since the financial crisis (BI) Central banks & IMF Global Financial Stability Report October 2017 (IMF) How might central banks create and use cryptocurrencies? (BIS) Interest Rates and the “New Normal” (FRB-SF, Williams) Estimating Key Economic Variables: The Policy Implications (FRB-BOS, Rosengren) Fed’s Rosengren Stands Firm on Need for Gradual Rate Hikes (B) Schäuble warns of another global financial crisis (FT) US Long-Term Household Income and Wealth Gains Favor Older Americans (FRB-SL) Europe German conservatives seek migrant deal in coalition talks (FT) An imminent threat to the unity of Spain (E) China China Mobile Looks Cheap, but There’s a Catch (BR) China’s Foreign Reserves Are Declining. Why, and What Effects Could This Have? (FRB-SL) US Politics Trump to Sign Order Easing Health Plan Rules, Official Says (W) Corker Fires Back After Trump Tweets He ‘Didn’t Have the Guts to Run’ (B) Corker Calls White House `Day Care Center’ After Trump Rant (B) Geopolitics U.S. Pressure on North Korea’s Ties Bears Fruit (W) Trump Says ‘Only One Thing Will Work’ to Rein In North Korea (W) The International Consequences of US Tax Reform (Project Syndicate) Mexico’s Berry Bounty Fuels U.S. Trade Dispute (W) Industries & companies Autos: Ford has a clear plan to fix its present failings (E) Consumer: Procter & Gamble vs. Nelson Peltz: A Battle for the Future of Big Brands (W) FANGs: Amazon Has a Luxury Problem (W) Retail: Wal-Mart: The Future of Retailing? (BR) Retail: RH: Pricey Wares, Pricey Shares (BR) Tech: Tinder Strikes Gold With New Subscription Feature (BR) Offbeat Most Oil in Gulf Remains Shut, Thousands in Dark After Nate (B) NRA Official Opposes Ban on ‘Bump Stocks’ Used in Vegas Massacre (B)

Oct 07 (Saturday) Markets It’s Market Mania for Assets All Around the World (B) Asset prices are high across the board. Is it time to worry? (E) Trump’s Team Wants to Turn Off the Safety Measures on Some Bonds (B) Currencies & cryptocurrencies Dollar’s prospects rest on Trump’s choice of Fed chair (FT) Kyle Bass Says ICO Investors Will Get Wiped Out in Crypto ‘Mania’ (B) Central banks & IMF Trump makes first mark on Fed as Senate approves key nominee (PO) Dudley Says Job Gains Should Lift Inflation, Fed Should Tighten (B) IMF, World Bank Leaders: Now Is the Time to Prepare for a Future Downturn (W) Japan’s Koike questions excessive economic stimulus: [Yurinomics] (FT) US Beneath Hurricane-Hit Payrolls, U.S. Labor Market Shows Strength (B) Americans Are Pouring Back Into the Workforce, Jobs Data Show (B) The hospitality industry lost its most jobs in the history of the jobs report (BI) Where Did All the Restaurant Workers Go? (B) Married Americans Are More Unhappy Than Ever (B) Europe Companies Leave Catalonia on Fears of Secession From Spain (W) US politics Cohn Cites Untapped U.S. Growth Potential to Sell Trump Tax Plan (B) Trump Refuses to Explain Remark About ‘Calm Before the Storm’ (B) Nancy Pelosi’s Reign Is in Serious Trouble (B) Geopolitics Chamber of Commerce Calls Trump Nafta Proposals ‘Dangerous’ (W) Trump to announce new measures against Iran (FT) Pacific Trade Advances Without the U.S. (W) Cybersecurity U.S. Confronts China Over Suspected Cyberattack as Guo Wengui Appears in Washington (W) Exclusive: SEC’s corporate filing system vulnerable to denial of service attacks – memo (R) A Warning Shot on Equifax: MSCI Flagged Security Issues Last Year (W) Industries & companies Defense: Boeing Will Build More GPS-Guided Smart Bombs With Extra Pentagon Funding (B) FANGs: Amazon Is Headed for the Prescription-Drug Market, Analysts Say (B) FANGs: Amazon Fails to Deliver on Its Entertainment Content (W) FANGs: Amazon Would Gain From Trump Push to Boost Cross-Border Retail (B) Tech: Oracle bows to investors by cutting Ellison’s pay (FT) Corporate finance Trump Administration Wants an Easier Path for Firms to Go Public (B) Technology New Robot Analyst Slaps Sell Rating on Facebook and Google (B) Chip Makers Are Adding ‘Brains’ Alongside Cameras’ Eyes (W) Robotic Chefs Arrive in Restaurant Industry (W) Offbeat New Orleans Braces for Flooding Ahead of Tropical Storm Nate (W) Outdated and Unreliable: FEMA’s Faulty Flood Maps Put Homeowners at Risk (B) There’s a Climate Bomb Under Your Feet (B) From Broken Home to Real-Estate Riches: Life of the Las Vegas Shooter (W)

Oct 06 (Friday) Markets U.S. Stocks Extend Run of Record Highs (W) Groupthink Leaves Half the Stock Market a Crowded Trade (B) Trump tax reforms risk crimping US bond market supply (FT) Oil Russia and Saudi reaffirm oil supply cut pledge (FT) Shale Juggernaut Shows Signs of Fatigue (W) Central banks Randal Quarles, Trump’s First Fed Nominee, Wins Senate Approval (W) Trump’s Short List for Fed Chair Features These Hawks and Doves (B) The One Fed Choice That Would Really Spook The Bond Market: [John Taylor] (B) Renzi warns ECB against changes to bad loan rules (FT) Bitcoin Forget Bitcoin. Have You Heard of IMFCoin? (W) Bitcoin’s Rise Happened in Shadows of Finance. Now Banks Want In (B) US U.S. Trade Gap Narrowed in August (W) Europe Spain Moves to Block Catalan Parliament Session on Independence (W) Japan Abe’s Free Education Plan May Slow the BOJ’s Inflation Drive (B) Emerging Modi hits out at ‘pessimism’ over Indian economy (FT) US politics U.S. House Advances Budget Resolution (W) GOP Hits Resistance on Estate-Tax Repeal—From Republicans (W) Geopolitics & trade North Korea ‘Decoders’ Offer Dire Warnings About Nuclear Program (W) A North Korea Nuclear Strike on Tokyo and Seoul Could Kill 2.1 Million (B) Whirlpool Wins Backing for Import Protection From Key U.S. Panel (W) Five Things to Know About Hidden Russian Influence on Social Media (W) Cybersecurity Russian Hackers Stole NSA Data on U.S. Cyber Defense (W) Ex-Equifax CEO Says There’s No Evidence Breach Was an Inside Job (B) Industries & companies FANGs: Amazon Is Prime Job for New M.B.A.s (W) FANGs: Amazon Is Testing Its Own Delivery Service to Rival FedEx and UPS (B) Financials: New U.S. Rule Targets Payday Loans (W) Media: Netflix Increases Price 10% for Its Most Popular U.S. Plan (B) Pharma: New Jersey Sues Insys Over Opioid Painkiller (W) Offbeat YouTube Tweaks Search Results as Las Vegas Conspiracy Theories Rise (W) Tropical Storm Nate Threatens U.S. Gulf Coast (W)