Syria, China, Australia, NBA, Tammy Duckworth, Roma, Nordstrom, Mattel
Marc Ross Daily
April 11, 2018
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
Marc Ross Daily = Global Business News at the Intersection of Politics + Policy + Profits
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TOP FIVE
✔️ Trump warns Russia US missiles ‘will be coming’ to Syria
✔️ China accelerates opening to foreign financial groups
✔️ Australia seeks new ASEAN ties as US-China rivalry grows
✔️ In NBA, court, and canvas are intertwined
✔️ Duckworth has baby
GEOECONOMICS
WSJ: Trump warns Russia US missiles ‘will be coming’ to Syria
FT: Trump saysUS poised to take military action against Syria
@spectatorindex: BREAKING: Trump cancels South America trip to focus on response to Syria
Airlines have been warned to steer clear of the eastern Mediterranean over the next 72 hours due to possible air strikes on Syria.
Italy's 5-Star Movement defends guaranteed income pledgehttp://p.dw.com/p/2vmUF
"The 5-Star Movement triumphed in Italy's election and intends to carry through on the promise of a basic income."
Japan hopes rare-earth find will give it an edge against China: WSJ reports, Japan has hundreds of years’ worth of rare-earth metal deposits in its waters, according to new research that reflects Tokyo’s concern about China’s hegemony over minerals used in batteries and electric vehicles.
Nikkei: Australia seeks new ASEAN ties as US-China rivalry grows: Trade and security links make Southeast Asia a natural choice. https://s.nikkei.com/2HbL7Iv
FT: China accelerates opening to foreign financial groups
China takes step toward opening its financial markets to the world: WSJ reports, Beijing pledges to launch stock trading link between Shanghai and London.
LAT: Amid Trump's threats, Xi pledges to slash tariffs, open China's markets
"Certainly we are encouraged by President Xi's kind words but at the same time, we want to see concrete actions from China. We're going to continue moving forward in the process and in the negotiations until those happen," said White House spokeswoman Sarah Sanders.
Xi’s vow to cut auto tariffs is less than meets the eye: Politico reports, business leaders and analysts say past Chinese promises to open up its markets have gone largely unfulfilled. Several business leaders were more critical, saying they heard little new and are increasingly frustrated with Chinese pledges to speed up reform with little or no follow-through. “The business community wants to see China move forward with implementing the promised reforms, not just talk about them,” said John Frisbie, president of the US-China Business Council. “The lack of implementation is creating uncertainty and undermining business confidence.”
WP - Isaac Stone Fish OpEd: American companies in China shouldn’t fear tariffs. They should fear a boycott. The nightmare scenario for U.S. companies is a boycott of U.S. goods and services — perhaps targeting an individual company or U.S. products in general. https://wapo.st/2IJSrbn
FT - Martin Wolf: US-China rivalry will shape the 21st century. Beijing’s rising economic and political power poses great challenges to the west. https://on.ft.com/2qpFiNn
IMF chief warns global economy could be ‘torn apart’: FT reports, Lagarde says countries should ‘steer clear of protectionism.’
AMERICAN POLITICS
BREAKING: Axios is reporting Paul Ryan is not running for re-election.
Federal deficit projected to top $1 trillion by 2020: NYT reports, the new analysis from the Congressional Budget Office takes into account the cost of the sweeping tax cuts that Republicans in Congress passed last year.
Puerto Rico is set to receive $18.5 billion from HUD to help rebuild its battered housing and infrastructure following Hurricane Maria.
‘How long can we last?’ Trump’s tariffs hit home in the US: NYT reports, a Pennsylvania manufacturer that relies on Chinese steel pipe has few alternative sources — and now its Chinese rival may gain an advantage.
Rare coalition bands together to fight Trump tariffs: Bloomberg, retail, agriculture, technology, manufacturing and other industries say the tariffs on $150 billion in Chinese goods are counterproductive to the goal of holding Beijing accountable for intellectual property theft and other trade practices. The groups are working to keep specific products off the U.S. list and trying collectively to keep levies from being imposed at all.
Zuckerberg concedes Facebook’s missteps in congress testimony: WSJ reports, lawmakers grilled Facebook Chief Executive Mark Zuckerberg over the company’s handling of user privacy while also signaling they were prepared to embark on a new era of regulation for big tech companies.
Reuters: Second day of congressional hearings awaits Facebook CEO Zuckerberg
Pompeo on spot to define Trump strategy in confirmation hearing: Bloomberg reports, at his Senate confirmation hearing on Thursday, Pompeo is likely to be questioned about potential retaliation against Syria over an alleged chemical attack, the administration’s plans to impose tariffs on imports and a planned meeting with North Korea’s leader after months of heightened tensions over nuclear testing. Lawmakers also are likely to ask about deteriorating relations with Russia and whether the administration will pull out of the nuclear pact with Iran.
Duckworth has baby; 1st US senator to give birth in office: AP reports, Sen. Tammy Duckworth (D-IL) has given birth to a baby girl, making her the first US senator to give birth while in office.
Only 10 women have given birth while serving in Congress.
‘He has unlimited money’: Scott upends battle for the Senate: Politics reports, 'It’s a victory for Republicans outside of Florida as much as it a victory for Republicans in Florida,' one GOP operative says.
ENTERPRISE
Sprint has restarted talks to merge with T-Mobile.
Google is in talks to buy Nokia's airplane broadband business to offer new services to more users by offering high-speed internet during flights.
Toy maker Mattel is shuttering its New York office: CNBC reports, toy maker Mattel announced on Monday that it is closing its New York office, as part of a previously announced $650 million cost savings plan. The closing, which will take place in phases through the rest of the year, will affect roughly 100 employees.
Amazon spent $22.6 billion in 2017 on research and development, more than any other US company.
Nordstrom is opening its first-ever Manhattan location to woo online shoppers away from their screens with a clubhouse bar, 24/7 store pickup, customized products, and a barber shop.
Allianz buys $35 million stake in Go-Jek.
TRENDS
Check out Piper Jaffray's semi-annual Generation Z survey of more than 6,000 US teens http://bit.ly/2EDhgDq
Food, beauty and video games continue to dominate teen wallet.
Athletic cycle above historic average but streetwear cycle accelerates.
Teens opt for Snapchat and Instagram as Facebook engagement stabilizes.
CULTURE
In NBA, court and canvas are intertwined: NYT reports, NBA players have become art collectors, out of enthusiasm, as an investment and to have something to pass on to the next generation. https://nyti.ms/2HqfdFT
SOTD
R.E.M. - Finest Worksong http://bit.ly/2GSxL0k
Tears For Fears - The Working Hour http://bit.ly/2qkSdA2
SPORT
Heroic Roma restore Italian pride after World Cup despair: AFP reports, Italy has spent five months grieving over the failure of the national team to take their customary place at the World Cup, but Roma have restored some pride with a heroic victory over Barcelona in the Champions League. The Azzurri, four-time world champions, are not going to Russia, but after Roma won 3-0, to over-turn a 4-1 quarter-final deficit and eliminate mighty Barca on Tuesday night on away goals, the club from the Eternal City can dream of going to a final in Ukraine.
Shohei Ohtani is very clearly not from this planethttp://bit.ly/2Ht7JCc
FIFA looks for $25 billion, 12-year deal for new tournaments: AP reports, FIFA is planning to team up with Saudi Arabian, Chinese and American investors in a $25 billion, 12-year deal that could add two major international tournaments to an already crowded soccer calendar. With preparations for this year’s World Cup in Russia reaching a climax, FIFA President Gianni Infantino is looking to launch an expanded 24-team Club World Cup — played every four years starting in 2021 — and a separate global competition for national teams every two years.
WSJ: Kansas included in expanded NCAA basketball probe
The hockey community is leaving hockey sticks out for the Humboldt boys: LAT reports, many NHL teams paid tribute to the Humboldt Broncos junior ice hockey team, who lost 15 of its players and staff in a crash last week. But that still wasn't enough for many who play and watch the game. https://lat.ms/2Hc5OEi