To recap a few anarchic days in Donald Trump’s Washington: At least six agencies are investigating Trump’s ties to Russia. The president is deriding the spies. The spies are keeping secrets from the president. The White House is mulling a purge. Everyone is leaking to the news media. And no one has any answers. If there’s one certainty in ...
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Trump’s unpredictability clouds Pence NATO assurances
US Vice President Mike Pence assured European allies that Washington strongly supports NATO. Pence said the US would be unwavering in its commitment to trans-Atlantic institution. President Donald Trump rattled European allies by branding NATO ‘obsolete’ in one of his interviews before the inauguration. European countries along Russian border grew uncomfortable after Trump suggested that sanctions imposed after Russia’s ...
Read More »India needs a nudge, not a shove
It’s been more than three months since Indian Prime Minister Narendra Modi went on television to tell his people that 86 percent of their currency would be worthless in a few hours. Since then, his government has scrambled to find justification for such an unprecedented and draconian decision — one justification after another, as it happens. First, the goal ...
Read More »Mondelez, Kellogg, et al – let the food deal frenzy begin
Packaged-food investors, you’re out of luck … for now. Speculation about 3G Capital’s next target has been bubbling since the private equity firm orchestrated the merger of Kraft Foods Group Inc. and H.J. Heinz in 2015. We finally know what it’s chosen: Unilever on Friday confirmed Kraft Heinz Co. had offered $143 billion to acquire the European consumer goods ...
Read More »Facebook plans to rewire your life. Be afraid
Facebook founder Mark Zuckerberg’s manifesto, penned clearly in response to accusations leveled at the social network in the wake of the bitter US election campaign, is a scary, dystopian document. It shows that Facebook — launched, in Zuckerberg’s own words five years ago, to “extend people’s capacity to build and maintain relationships†— is turning into something of an ...
Read More »Melted N-fuel search proceeds one dead robot at a time
Bloomberg The latest robot seeking to find the 600 tons of nuclear fuel and debris that melted down six year ago in Japan’s wrecked Fukushima Dai-Ichi power plant met its end in less than a day. The scorpion-shaped machine, built by Toshiba Corp., entered the No. 2 reactor core and stopped 3 meters (9.8 feet) short of a grate ...
Read More »Sugar boom turning Russia into exporter with record output
Bloomberg In just a decade, Russia has transformed its sugar industry. The country, which was once the world’s top importer of raw sweetener, is now on the verge of becoming a net exporter. Aided by an import tax Russia introduced in 2004 to shield domestic firms from foreign competition, producers have been able to invest in making beet refining ...
Read More »China’s surging prices hidden side to reflation trade
Bloomberg Forget about Donald Trump. The global reflation trade may have another driver that proves to be more durable: China’s rebounding factory prices. The producer price index has staged an 10 percentage-point turnaround in the past 10 months, posting for January a 6.9 percent jump from a year earlier. Though much of that reflects a rebound in commodity prices ...
Read More »India clears bill to ease introduction of new taxes
Bloomberg A panel of state finance ministers cleared a bill that will compensate states for any revenue lost as a new nationwide goods and services tax is introduced in July. The government will now present the compensation bill in the second phase of the parliament’s budget session, Finance Minister Arun Jaitley told reporters in the northwestern city of Udaipur ...
Read More »Japan logs 1% growth in 2016 as private demand stalls
TOKYO / AP Japan’s economy expanded at a steadily slowing pace in 2016, though a modest recovery in exports helped offset sluggish spending by households and businesses, according to data reported. The 1.0 percent annual pace of expansion for the year compared with 1.2 percent growth in 2015. For all but one quarter of the year, private demand was flat ...
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