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Global economic releases  June 21

Global economic releases today. … Jargon, Comments, About. Search: Current Forex Market Session Click a city for session articles. London · New York · Sydney · Tokyo. GMT. RSS · Twitter · Facebook Google ·June 21, 2018

Export-Import Bank vital to U.S. growth

Restoring the U.S. Export-Import Bank’s full lending powers

Restoring the U.S. Export-Import Bank’s full lending powers is vital to the country’s economic growth and to shrinking trade deficits, planemaker Boeing Co (BA.N) said on Wednesday after President Donald Trump nominated Kimberly Reed as the trade bank’s president.

“Restoring the Export-Import Bank to full strength with a Board quorum is the best thing Washington can do right now to grow our economy through exports, shrink our trade deficits, and level the playing field so American workers can win,” Tim Keating, Boeing’s executive vice president of government operations, said in a statement.

https://www.reuters.com/

The shipping industry is back

Indicator of the health of the global economy

90 percent of today’s global trade is carried by ship. The importance of shipping is why it’s one of the most useful indicators of the health of the global economy… And, more recently, the state of China’s economy – the largest consumer of a range of commodities, including iron ore, coal, copper, and zinc, and the largest importer of oil.

The Baltic Dry Index (BDI) tracks the price of shipping raw materials such as metals, grains and fossil fuels by sea. It takes into account the day-to-day changes in shipping rates for the three major carrier sizes: Capesize, Panamax and Supramax.

Shipping companies committed a classic boom/bust cycle mistake back in 2011. At the height of the commodity boom, they ordered a huge number of cargo ships. Global shipping capacity continued to expand by approximately a net 2.5 percent rate each and every year. Meanwhile, according to the World Bank, global trade of goods and services has declined by 7 percent from 2011 to 2016, as commodity prices collapsed.

https://www.businessinsider.com/

Trump seeks additional $200 billion in tariffs against China

Trump threatens even more

President Donald Trump threatened to sharply escalate a trade conflict with China, asking his administration to identify $200 billion in imported goods from China to be penalized with tariffs.

Trump’s move comes after Beijing announced it would retaliate in kind to planned U.S. tariffs on $50 billion in imports from China. The U.S. president’s latest plans, if carried out, would likely plunge the world’s two biggest economies into a trade war.

https://www.marketwatch.com/

Driverless cars similar to antibiotics says Carlos Ghosn

We’re Five Years From Safe, Driverless Cars For All

Carlos Ghosn, CEO of the Renault-Nissan-Mitsubishi Alliance,  has detailed the impact of the driverless car on human daily lives (Interview at BFMTV). There are between 1,3 million and 1,4 million death on roads every year in the world. The driverless car will eliminate 90% of the fatal accidents.

https://www.forbes.com/

Tariffs on $50 billion in Chinese goods

Trump to unveil tariff list targeting Chinese goods on Friday

U.S. President Trump has made up his mind to impose “pretty significant” tariffs on Chinese goods, an administration official said on Thursday, as Beijing warned that it was ready to respond if Washington chose to ratchet up trade tensions. Trump is due to unveil revisions to his initial tariff list targeting $50 billion of Chinese goods on Friday. The list will contain 800 product categories, down from 1,300 previously, according to another administration official and an industry source familiar with the list.

Trump no longer believes that Beijing’s influence over North Korea is a compelling reason to ease up on trade talks now that his administration has opened up a direct line of communication with the nuclear-armed country, the first administration official said. U.S. Treasury Secretary Steven Mnuchin argued against imposing the tariffs at a White House meeting on Thursday but he was not expected to prevail, the official said.

The Chinese government’s top diplomat, State Councillor Wang Yi, said his country was prepared to respond if Trump went ahead with the tariffs.

FED raises rates

“The economy is doing very well”

The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the U.S. central bank’s shift from policies used to battle the 2007-2009 financial crisis and recession.

In raising its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75 percent to 2 percent, the Fed dropped its pledge to keep rates low enough to stimulate the economy “for some time” and signaled it would tolerate inflation above its 2 percent target at least through 2020.

“The economy is doing very well,” Fed Chairman Jerome Powell said in a press conference after the rate-setting Federal Open Market Committee released its unanimous policy statement after the end of a two-day meeting.

Federal judge approves AT&T-Time Warner merger

The Trump Justice Dept. failed to block the $85 billion merger

A federal judge approved the $85 billion mega-merger of AT&T and Time Warner on Tuesday, potentially ushering in a wave of media consolidation while shaping how much consumers pay for streaming TV and movies.

U.S. District Judge Richard Leon green-lit the merger without imposing major conditions as some experts had expected. The Trump Justice Department had sued to block the $85 billion merger, arguing that it would hurt competition in cable and satellite TV and jack up costs to consumers for streaming TV and movies.

Now, the phone and pay-TV giant AT&T will be allowed to absorb the owner of CNN, HBO, the Warner Bros. movie studio, “Game of Thrones,” coveted sports programming and other “must-see” shows. The Justice Department could appeal the ruling, although it said only that it is considering its options.

Paris beats London as Europe’s favorite investment destination

BREXIT impact  + “Macron effect”

An Ernst & Young survey shows Paris has overtaken London as Europe’s most attractive destination for foreign investors for the first time since EY began such reports 15 years ago.

The change in the continent’s pecking order is a sign of the impact of both Brexit and the “Macron effect”.

The French capital was ranked No. 1 for foreign direct investment by 37 percent of businesses, based on a survey of 502 companies and data from EY and IBM covering 2017.

Leading Brexit campaigners held secret meetings with Russian officials

MPs call for police to investigate Arron Banks’ links to Russia

MPs are calling for the police and parliament to investigate the links between the millionaire Brexit donor Arron Banks and the Russian government, after it emerged that he met the Kremlin’s ambassador to the UK three times, rather than once as he originally claimed.

With pressure growing on Banks to explain his relations with Moscow during and after the EU referendum campaign, the Bristol-based businessman will face a postponed hearing on Tuesday before the digital, culture, media and sport (DCMS) select committee, which is investigating “fake news”.