Dr. Ed's Blog

Mar 24 (Saturday)

Markets
Stocks Tumble Again to End Worst Week in More Than 2 Years (W)
A Horror Week for the Dow Has Investors Begging for Trump Respite (B)
Sell the Rally Is the New Mantra for Stocks (B)
Trade Fears Jolt Global Asset Prices (W)
U.S. Trade Battle Fuels Metals’ Longest Weekly Slump Since 2015 (B)
Jolt to markets is better explained by CNBC’s world (FT)

Central banks
Can Jay Powell pull off a soft landing for the economy? (FT)
Be sceptical about great monetary policy convergence (FT)

US
U.S. Factory Goods Orders Rise at Best Rate Since June (W)

Europe
Bickering Could Leave Italy Without Government For Months (W)

US politics
Trump Signs Bill to Fund Government But Blasts Measure (W)
Trump Relishes Off-Script Approach (W)

Trade
China Started Trade War, Not Trump (W)
Shift From Exports Gives China Cushion Against Tariffs (W)
Behind ‘Trade War’ Slogans, a Few Routes to Peace (B)
Abe seeks to renew Trump bromance after tariff snub (FT)
How Tariffs Exemptions Were Won (W)

Geopolitics, terrorism, & cybersecurity
US nationalists take hold of foreign policy (FT)
Why America Is So Scared of China’s Biggest Tech Company (B)
U.S. Charges Nine Iranians With Cyberattack Campaign (W)
U.K. Watchdog Gets Warrant to Search Cambridge Analytica (B)
Three Dead in France in Terrorist Attack (W)

Industries & companies
Autos: EPA Tentatively Decides to Ease Vehicle Emission Standards (W)
FANGs: Facebook Looks to Calm Advertisers Amid Crisis (W)
Telecom: New FCC Rule Would Step Up U.S. Fight Against China’s Huawei (W)

Corporate finance
Dropbox IPO Defies Market’s Gravity With 36% Jump (W)

Technology
Uber Crash Highlights Growing Safety Concern: Pedestrians (W)

Offbeat
How to Dump Facebook…or at Least Put It in the Dog House for a While (W)

Mar 23 (Friday)

Markets
Dow Falls Over 700 Points on Concerns About Trade (W)
The market is having a hard time adjusting to a new day at the Fed (C)

Global
Cracks Are Starting to Appear in the Global Economy’s Momentum (B)

Central banks
Fed Officials See 2.1% Inflation in 2020 and That’s a Big Deal (B)
Powell fails to sway investors following ‘dot plot’ (FT)
Opinion: The Federal Reserve is making a huge policy mistake (MW)
The Great Inflation Mystery (B)

US
Retirees Reshape Where Americans Live (W)

Europe
Eurozone Growth Shows Signs of Easing as Trade Conflict Looms (W)

US politics
Lawmakers Pull All-Nighter to Study 2,232 Page Spending Bill (W)
Trump Replaces McMaster With Bolton as National Security Advise (B)
Here Are All the Officials Who Have Left the Trump White House (B)

Trade
U.S. to Apply Tariffs on Chinese Imports, Restrict Tech Deals (W)
China Plans Tariffs on $3 Billion of U.S. Steel, Aluminum, Pork, Wine (B)
Europe Blowback Shows There’s No Neutrals in Global Trade Fracas (B)

Industries & companies
Autos: Electric Cars May Be Cheaper Than Gas Guzzlers in Seven Years (B)
FANGs: Amazon Is Looking for Larger Whole Foods Stores to Support Delivery Plans (B)
FANGs: Whole Foods Losing Executives Under New Owner Amazon (W)
FANGs: Next Worry for Facebook: Disenchanted Users (W)
Financials: Biggest Three Banks Gobble Up $2.4 Trillion in New Deposits Since Crisis (W)
Retail: Physical Retail Is Not Dead: Boring Retail Is (F)
Shipping: FedEx Sinks Most in Five Years as Trump Tariffs Stoke Trade Fear (B)

Offbeat
More Companies Teach Workers What Colleges Don’t (W)

Mar 22 (Thursday)

Markets
Could ETFs Fall Into a Liquidity Jam? (W)
Why the Canadian Dollar and Mexican Peso Have Diverged (W)

Central banks
Fed Raises Interest Rates, Signals Faster Path Next Year (W)
Powell fails to sway investors following ‘dot plot’ (FT)
Powell’s Fed Debut Shows Shift Away From Theory, Models (B)

US
Retiring Workers Aren’t Weighing on Productivity but Their Replacements Are (The Street)

Europe
The EU’s ‘digital tax’: how US tech would be hit (FT)

China
China’s Xi Tightens Party Reins Over Streamlined Government (W)

US politics
Mueller Investigated Sessions for Perjury on Russia Statements (B)

Trade I
Trump Administration Tells Lawmakers China Actions Are Needed (W)
China to Target Trump’s Base in Tariff Response (W)
Trump to Announce $50 Billion in China Tariffs, Sources Say (B)
Lighthizer Says WTO ‘Wholly Inadequate’ to Deal With China (W)
China says WTO ruling on Obama tariffs shows US is a ‘repeat abuser’ (C)

Trade II
U.S. Signals Some Allies May Get Break on Metals Tariffs (W)
Trump’s Steel Tariffs May Take a Swipe at Battery-Storage Market (B)
Germany Rules Out Economic Shift Amid Pressure From Trump (W)

Industries & companies
Consumer: Cheerios Could Get Pricier as General Mills Faces Rising Costs (W)
FANGs: After Days of Silence, Mark Zuckerberg Addresses Facebook Crisis Over Data Use (W)
Financials: Travelers Unveils Insurance That Caters to Millennials (W)
Restaurants: Starbucks Aims for More Mobile Orders (W)
Retail: How One Investor Made a Fortune Picking Over the Retail Apocalypse (W)
Tech: Twitter’s Chief Information Security Officer Departs (B)

Corporate finance
Global deals surge past $1tn at fastest ever pace (FT)

Technology
If It Looks Like a Fish and Swims Like a Fish, It Might Just Be a Robot (W)

Offbeat
How to Keep Facebook From Oversharing Your Info (W)

Mar 21 (Wednesday)

Markets
Days Before Selloff, Tech Hit a Milestone Not Seen Since 2000 (B)
Vitol chairman: Opec will need to extend cuts into 2019 (FT)

Central banks
Asian Central Banks Unlikely to Follow Fed Rate Hike (B)

US
Up, Up, Up Goes the Economy. Here’s What Could Knock It Down. (N)

China
Who’s Afraid of Huawei? Security Worries Spread Beyond the U.S. (W)
Chinese Companies Are Buying Up Cash-Strapped U.S. Colleges (B)

US politics
How Lawrence Kudlow’s Rise Breathes New Life Into Indexing Capital Gains to Inflation (W)

Trade
Mnuchin rejects accusations of US protectionism (FT)
China’s Leaders Smooth Trade Tensions but Talk Tough on Taiwan (W)
The Unintended Consequences Of Starting A Trade War With Mexico (F)
Europe’s Pitch to Trump: You Already Have a Good Trade Deal (W)

Geopolitics
Trump Congratulates Putin on His Election Win (W)
Trump Greets Saudi Prince With a Crowded Agenda (W)

Corporate finance
Walmart Remains in Buying Mode to Fight Amazon, Executive Says (B)
Nordstrom Ends Buyout Talks With Founding Family Over Price (B)
Glencore Doubles Down on Coal With $1.7 Billion Australian Investment (W)

Technology & cryptocurrency
Uber’s New CEO Confronts His First Crisis With Driverless-Car Death (W)
Has the Cryptocoin Market Met Its Match in the SEC? (W)
Bitcoin Spikes After G-20 Expresses No Desire for Crypto Oversight (B)

Cybersecurity
Orbitz Discloses Possible Data Breach Affecting 880,000 Payment Cards (W)
Facebook’s Lax Data Policies Led to Crisis (W)
Facebook faces FTC probe (FT)
Cambridge Analytica Suspends CEO After Video’s Release (W)

Offbeat
Two More Explosive Devices Rattle Texas After Austin Bombings (W)

Mar 20 (Tuesday)

Markets
Goldman Sees ‘Financial Fragility’ Rising in Markets (B)
Facebook, Tech Shares Pull Stocks Sharply Lower (W)
Facebook data storm wipes nearly $37bn off market value (FT)

Central banks
Use Fiscal Policy, Not the Fed, to Fight the Next Slump (B)
China’s New Central Banker Is Just as Important as the Fed’s (N)
China’s New PBOC Chief Promises Quick Change (W)

US
Signs of US economic cycle breakdown gather pace (FT)

Europe
EU Agrees on Brexit Transition Terms; Ireland Issue Remains (W)

Japan
Cronyism Allegations Chip Away at Support for Japan’s Abe (W)

China
Key Takeaways for Investors from China’s National People’s Congress (B)
Alibaba Bets Another $2 Billion on Southeast Asia (W)

Emerging
Putin’s Victory Magnifies Deep Divide (W)
Vladimir Putin is not as scary as he looks (FT)

US politics
Trump Pledges to ‘Get Very Tough,’ Rein In Opioid Crisis (W)
Trump Calls for Death Penalty for Drug Dealers in Opioid Plan (B)
Cynthia Nixon Will Challenge New York Gov. Cuomo in Democratic Primary (W)

Trade
U.S. Tariffs to Be in Spotlight at G-20 Summit (W)
Mnuchin Takes Heat From Global Finance Chiefs Over Trade (B)
Brussels offers to be US ally in steel trade fight (FT)
EU and U.S. can still avoid trade conflict: German economy minister (R)
Trump ‘enthusiastic’ about reaching NAFTA deal: Canada’s Trudeau (R)
From Exemption to Escalation: Japan’s Options on U.S. Tariffs (B)

Industries & companies
FANGs: Facebook Says Cambridge Analytica Agreed to Forensic Data Audit (B)
FANGs: Facebook’s Role in Data Misuse (N)
Financials: Higher Deposit Rates May Be Coming to Your Bank Account (W)

Corporate finance
Dropbox IPO oversubscribed: sources (R)
Aramco Scales Back IPO Plan, Eyes Saudi-Only Listing (W)

Technology
Uber Suspends Driverless-Car Program After Pedestrian Death (W)
Don’t Call It a Car: China Tech Giants Want to Sell ‘Mobile Living Spaces’ (W)
FedEx Follows Amazon into Robotic Future (N)

Offbeat
Austin Police Seek ‘Serial Bomber’ After Fourth Explosion This Month (W)

Mar 19 (Monday)

Central banks
Yi Gang Picked to Take Helm of People’s Bank of China (W)

US
US economy learns to tune out Trump chaos (FT)
The Next Housing Crisis: A Historic Shortage of New Homes (W)
The High Cost of Caregiving (BR)
Health Care Costs Could Drop (BR)

Japan
Why Japanese houses have such limited lifespans (E)
A startling amount of land in Japan has no official owner (E)

China
With Grip on Power Assured, China’s Xi Elevates Lieutenants (W)
Top Treasury Official Misspoke in Saying China Talks Ended (B)

Emerging
Putin Sails to Easy Victory in Russia Election (W)

US politics
Trump Steps Up Attacks on Mueller Investigation (W)

Trade
Trade Groups Ask Trump Administration to Halt China-Tariff Plans (W)
Germany Steps Up Push to Foil Tariffs With Washington Talks (B)
In a trade war Germany is the weakest link (FT)
Tech tax deepens EU-US trade rift (FT)
“Huge” Trade Deficits Are Smaller Than You Think (B)
A reasoned response to Trump’s irrational tariffs (FT)

Geopolitics
America v China: The battle for digital supremacy (E)
Clean power is shaking up the global geopolitics of energy (E)

Industries & companies
FANGs: Facebook in storm over Cambridge Analytica (FT)
FANGs: Facebook Ignites Debate Over Third-Party Access to User Data (W)
Financials: U.S. Widens Wells Fargo Sales Probe to Wealth Management (W)
Financials: US bank derivatives books larger since Bear rescue (FT)
Retail: Can Retailers Keep Pace With Shoppers? (W)
Retail: Old Navy Could Lift the Gap by 25% (BR)
Tech: Why Some ‘Fortnite’ Friends Can’t Play Together (W)

Offbeat
What’s That Thing You’re Sending an Email With? Um, It’s a BlackBerry (W)

Mar 17 (Saturday)

Markets
Credit Suisse Tells the Rich to Buy Stocks If They Missed the Rally (B)

Central banks
Powell’s view on Phillips Curve will shape rate debate (FT)

US
Housing Starts Tumble (W)
Is America Running Out of Unemployed People to Fill Jobs? (W)

Europe
Macron presses Merkel on eurozone reform (FT)

Japan
Japan’s Prisons Are a Haven for Elderly Women (B)

US politics
Backed by Kudlow, GOP Dares Democrats With ‘Phase Two’ of Tax Cuts (B)
White House to Deploy Ivanka Trump to Promote Infrastructure Plan (W)

Trade
Trump Readies Sweeping Tariffs and Investment Restrictions on China (N)
In Targeting China, Trump Could Hit a Big U.S. Export (W)
Wary of China, Europe and Others Push Back on Foreign Takeovers (N)
Trump’s tariffs head for a legal minefield [at WTO] (R)
EU starts retaliation process against U.S. tariffs (R)
Navarro’s Nucor Ties Highlight Trump Advisers’ Steel-Industry Connections (W)

Geopolitics
How Hong Kong Makes Evading North Korea Sanctions Easier (W)
North Korea Makes Millions Selling Power to China (W)
Trump administration goes cold on Russia (FT)

Industries & companies
Consumer: Nestle Sees Demand for Premium Pet Food Driving Purina Growth (B)
Financials: Bonus Drought Over as Deutsche Bank Seeks to Retain Talent (B)
Financials: U.S. Widens Wells Fargo Sales Probe to Wealth Management (W)
Tech: LinkedIn’s $27 Billion Challenge: Get People to Use It More (W)

Technology
PwC Has an Answer for the Blockchain: Audit It (W)
Do You Own Bitcoin? The IRS Is Coming for You (W)

Offbeat
World’s Largest Economies Can’t Agree on How to Tax Digital Companies (W)

Mar 16 (Friday)

Markets
Why markets barely twitched when the Secretary of State was fired (WP)
JPMorgan Moves Closer to Urging a Rotation Away From Equities (B)
Russia eyes $7bn eurobonds despite international outcry (FT)

Central banks
US eyes Fed official Quarles for top global regulatory post (FT)

Europe
Europe’s Defense Spending Continues to Miss Trump’s 2% Target (W)

US politics
Mueller Subpoenas Trump Organization in Russia Probe (W)
What to Expect From National Economic Council Under Kudlow (W)

Trade
Trump Takes Aim at Next Tariff Target: China (W)
China faces battle to meet US $100bn trade demand (FT)
Surplus or Deficit? Trump Quarrels With Canada Over Trade Numbers (W)
Lagarde Counters Trump, Calling Global Trade Wars ‘Unwinnable’ (B)
Trade war dangers loom for EM via supply chains (FT)

Geopolitics & cybersecurity
U.S. Adds Sanctions on Russians for Vote Meddling, Hacking (W)
Russian Hackers Attacking U.S. Power Grid and Aviation, FBI Warns (B)
Nato powers close ranks against Putin (FT)
North Korean Official’s Trip to Sweden Could Be Prelude to U.S. Talks (W)

Industries & companies
Autos: Tesla’s Make-Or-Break Moment Is Approaching (W)
Energy: Pipeline Stocks Plunge After FERC Kills Key Income-Tax Allowance (B)
FANGs: FANG Rally Is Outpacing the Heyday of the Tech Frenzy (B)
Media: Disney Reorganization Anticipates 21st Century Fox Assets (N)
Tobacco: FDA Moves to Curb Nicotine in Cigarettes (W)

Corporate finance
Pricier Than Apple? Xiaomi’s Hot Again, and Investors Could Get Burned (W)

Mar 15 (Thursday)

Markets
Stocks Fall on Renewed Trade Worries (W)
What’s the Biggest Trade on the NYSE? The Last One (W)
Kudlow says he favors a strong dollar, has no reason to believe Trump isn’t for one either (C)

Central banks
Draghi’s Predictability Pledge Raises Need for Clarity on Rates (B)

US
Weak Consumer Spending Presents a Puzzle (W)
Rising Services Costs Help Drive U.S. Business Prices Higher (W)

Europe
Europe Tightens Screws on U.S. Tech (W)
Germany’s new government: who’s who in the cabinet (FT)

US politics
Kudlow Accepts Post as White House Economic Adviser, Replacing Cohn (W)
Kudlow will help Trump ‘sleepwalk’ into a ‘tremendous fiscal collision,’ says former boss David Stockman (C)
Americans May Get Permanent Tax Cut in ‘Phase Two,’ Kudlow Says (B)
Key Republican is talking to the White House about tax plan ‘phase two’ (C)
Democrat claims victory in close US Congress race (FT)

Trade
White House Looks to Slash China’s Bilateral Trade Surplus by $100 Billion (W)
U.S. Companies Will Get Few Exclusions to Tariffs, Officials Signal (W)
U.S. Allies Eye Tough-on-China Approach to Avoid Trump Tariffs (W)
Tariffs Are Taxes (Kudlow, Laffer, & Moore for National Review)
Video: Tariffs are a negotiating stance for Trump: Art Laffer (Fox)

Cryptocurrency
Citigroup says ‘malicious actor’ tried to hack credit cards tied to the Defense Department (C)

Industries & companies
Autos: More Auto Makers Sued Over Exploding Takata Air Bags (W)
Defense: Trump Tells Boeing He Wants a ‘Good Price’ on Fighter Jets—or Else (B)
FAANGs: Amazon: The Making of a Giant (B)
Financials: A Decade After Bear’s Collapse, the Seeds of Instability Are Germinating Again (W)
Media: Disney Sets Stage for Succession Race With Operational Overhaul (W)
Tech: Square closes near all-time high after analyst compares stock to early days of Amazon (C)

Corporate finance
Qualcomm Pursued Unusual Strategy (W)
Trump Is Right to Quash the Qualcomm Merger (B)
Toys ‘R’ Us Tells Workers It Will Likely Close All U.S. Stores (W)

Technology & cryptocurrency
Google to Ban Ads for Cryptocurrencies (W)
Cboe Signals Big Plans for Trading Cryptocurrency Derivatives (B)

Offbeat
What Trump’s ‘Space Force’ might look like – and when it would be ready (C)

Mar 14 (Wednesday)

Markets
U.S. Stocks Decline on Weakness in Tech, Financial Shares (W)
Yield-Curve Flattening Gets New Life After Inflation Fears Subside (B)
Gas Prices Fall After Government’s Deal With Bankrupt Refiner (W)

Central banks
Why Continuing to Remove Monetary Accommodation is Appropriate (Rosengren)

US
Tax Revamp Drives Corporate Chiefs’ Outlook to 15-Year High (W)
US business chiefs warn on dangers of protectionism (FT)
First-Quarter GDP Estimate Declines to 2.5 Percent (FRB-ATL)
Inflation Cooled in February (W)

Demographics
The Graying of America: More Older Adults Than Kids by 2035 (Census)
71% of Millennials are Not Engaged at Work (Gallup)

China
Has China Overtaken the U.S. in Terms of Innovation? (FRB-SL)
China’s Party Policing Spreads to Cover All Government Workers (W)

US politics
Tillerson Is Fired; Trump Taps Pompeo as Secretary of State (W)
Tillerson Refused to Do Another Russia Deal (B)
Trump Says He Is ‘Very Strongly’ Considering Kudlow to Replace Cohn (W)
Trump Inspects Border Wall Prototypes in California (B)

Trade
Senate GOP Leader All But Rules Out Legislation to Undo Trump’s Tariffs (W)
Trade Conflicts Threaten Global Growth, Says OECD (W)
America v China: How trade wars become real wars (FT)
China’s US Treasury holdings in focus amid trade tensions (FT)

Geopolitics
Trump, by Firing Head Diplomat, Recasts U.S. Foreign Policy (W)
North Korean silence highlights risk for Kim Jong Un (FT)

Industries & companies
Autos: VW award bosses big pay rises after worst scandal (FT)
Financials: Merrill Lynch Bolsters Business Serving Richest Clients (W)
Industrials: GE Plunges After JPMorgan Casts Doubt on Profit Forecast (B)
REITs: SL Green Sells Property to Prop Up Its Share Price (W)
Retail: Dick’s Says Firearms Restrictions Turned Away Some Customers (W)

Corporate finance
Trump Blocks Chip Deal by Broadcom on Security Concerns (W)
Amazon Mulled Buying Texture Before Apple Deal (B)
Gun Maker Remington Plans to File for Bankruptcy Protection (W)

Technology & cryptocurrency
Artificial Intelligence Rules More of Your Life. Who Rules AI? (W)
Google founder’s flying taxis in secret NZ tests (FT)
Bitcoin not the answer to a cashless society (FT)

Offbeat
Ten Years After the Bear Stearns Bailout, Nobody Thinks It Would Happen Again (W)