Italy, Brazil, US vs China, Brett Kavanaugh, Facebook, Unilever, Coinbase, Bob Geldof
Marc Ross Daily
October 5, 2018
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
Marc Ross Daily = Global Business News at the Intersection of Globalization, Disruption, and Politics
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TOP FIVE
✔️ Brexit deal on Irish border is in sight
✔️ Italy pivots to China
✔️ Dispute with China is here to stay
✔️ Unilever backs down on moving headquarters from UK
✔️ DVF to stop using fur in all upcoming collections
ROSS RANT
When communicating your thought leadership - think 10% reduction:
Fifty page report becomes a five page report.
Five-page report becomes five paragraphs.
Five paragraphs become five sentences.
Five sentences become five words.
GEOECONOMICS
50 years later, troubles still cast ‘huge shadow’ over Northern Ireland: NYT reports, the conflict that left some 3,600 people dead officially ended in 1998. But the scars are deep, and Brexit negotiations have opened new wounds.
Brexit deal on Irish border is in sight, says EU: The Times reports, European Union Brexit negotiators have told national diplomats in Brussels that a deal to solve the Irish border issue is now “very close.”
Italy builds budget plan on ambitious GDP forecasts: FT reports, growth figures that underpin spending proposals are higher than consensus.
Italy pivots to China: Italy’s populist government is distancing itself from European Union allies on a new front – this time, by volunteering for a role in China's vast global infrastructure program.
OTD: In 1910 Portugal was proclaimed a republic when King Manuel II fled to Britain.
Canada’s navy is asserting its strength in the Arctic as rising temperatures look set to inflame regional tensions.
A disciple of Brazil's dictatorship moves closer to the presidency: Reuters reports, in 1993, Congressman Jair Bolsonaro strode to a podium in Brazil's lower house and delivered a speech that shook its young democracy: He declared his love for the country's not-so-distant military regime and demanded the legislature be disbanded.
French investigate wherabouts of Interpol chief after wife reports him missing: Reuters reports, French police have opened an investigation into the whereabouts of the president of international police cooperation agency Interpol, after his wife reported he had gone missing after traveling home to his native China last week.
AFP: Hong Kong denies FT journalist visa after independence talk
The China clause: PM Trudeau dreams of closer Canadian ties with China, but the deal he just made with Trump makes that harder to happen. The new trade accord between the US, Canada, and Mexico includes a provision requiring one member to notify the others if it starts trade talks with a non-market economy.
Dispute with China is here to stay: JP Morgan is getting less optimistic about the trade conflict between the US and China. The firm lowered its rating for Chinese equities to neutral from overweight, predicting the escalating trade war between the countries will affect China's economy next year. ‘A full-blown trade war becomes our new base case scenario for 2019,’ emerging market strategist Pedro Martins Junior said in a note to clients Wednesday. ‘There is no clear sign of mitigating confrontation between China and the US in the near term.’"
Pence accuses China of anti-Trump midterm meddling: FT reports, US vice-president says Beijing interference a bigger threat than Russian efforts.
Google should drop plans for China return, Pence says.
Reuters: Pence accuses China of 'malign' campaign to undermine Trump
SCMP: China rejects Pence’s ‘ridiculous’ claim of meddling in US elections
Beijing lashed out overnight at Pence: "This is nothing but speaking on hearsay evidence, confusing right and wrong and creating something out of thin air," according to China's foreign ministry.
WP: Pence says China is trying to undermine Trump because it ‘wants a different American president’
“Top White House aides have said the administration is developing new policies to mark a turn in the bilateral relationship away from cooperation in many areas and toward outright competition.”
China spy chips report adds pressure on Pentagon cloud security: Bloomberg reports, tech providers including Amazon are vying for a $10 billion cloud-computing contract.
Trump has been arguing since the campaign trail that the US tech industry needs to move its global supply chain home. He got fresh grist for his case Thursday from a bombshell Bloomberg Businessweek report on Chinese hacking.
Xi Jinping makes a Maoist bet on China's economy: Nikkei reports, call for 'self reliance' reflects resolve to never bow to Donald Trump.
US-China rivalry moves into emerging-country infrastructure: Nikkei reports, Washington doubles overseas financing to counter Belt and Road.
New NAFTA sets the trade template: Using its new pact with Canada and Mexico as a template to redefine rules, the US plans to focus more on using trade deals to confront “nonmarket” forces distorting world commerce and to seek tougher standards for goods flowing into the US in a bid to steer more manufacturing back home.
AMERICAN POLITICS
BREAKING: US September payrolls rise 134,000 + Jobless rate falls to 3.7%
Unemployment rate lowest since 1969.
NYT: Senate moves toward Friday showdown vote on Kavanaugh confirmation
Republican leaders were increasingly confident that the Senate would narrowly vote to cut off debate on Judge Brett M. Kavanaugh’s nomination and move to a final confirmation on Saturday.
Four senators are undecideds: Jeff Flake (R-AZ), Susan Collins (R-ME), Lisa Murkowski (R-AK) and Joe Manchin (D-WV).
GOP confidence in Judge Kavanaugh’s confirmation grows: WSJ reports, Republican leaders said they were increasingly confident that Supreme Court nominee Brett Kavanaugh would win confirmation after a reopened FBI inquiry into allegations of sexual misconduct ended without new concerns being raised by the handful of undecided senators.
White House confident on Kavanaugh confirmation as Flake and Collins praise the FBI report: LAT reports, the two key Republican senators didn't say how they'll vote, but the tone of their comments encouraged colleagues. A preliminary vote takes place today.
Space Force: Trump is considering ousting Air Force Secretary Heather Wilson after the midterm elections, over her alleged pushback on his directive to create a Space Force branch within the US military.
Beto O’Rourke draws big crowds in Texas. But his voters tend not to vote.: WSJ reports, Beto O’Rourke’s Senate campaign against Ted Cruz casts the three-term congressman as the Democratic Party’s antidote to President Trump. Mr. O’Rourke’s popularity has grown in Texas, but he faces the challenge of turning out young and Hispanic voters, who tend not to vote.
In deep-red Tennessee, Republicans are anxious about the Senate race: WP reports, GOP groups are making a last-ditch effort to prop up Trump ally Rep. Marsha Blackburn, who is locked in a tight race against popular former Democratic governor Phil Bredesen.
The chaos continues: Republican lobbyist Bruce Mehlman warned clients in a presentation this week that the lame-duck session between the November elections and the swearing-in of the new Congress in January could be especially fraught. See the deck here: http://bit.ly/2Nplbsa
ENTERPRISE
Facebook employees angry over executive’s Kavanaugh support: WSJ reports, hundreds of Facebook employees have expressed outrage about a top global policy executive’s decision to support Supreme Court nominee Brett Kavanaugh by appearing at his hearing last week.
Facebook acknowledges ‘mistakes’ over Kavanaugh hearing: FT reports, Joel Kaplan’s attendance at questioning of Supreme Court nominee sparks staff backlash.
Unilever backs down on moving headquarters from UK: FT reports, group faced share pressure against decision to switch to single Netherlands base.
The Times: Unilever abandons move to Rotterdam under pressure from UK investors
Reuters: J&J, Arrowhead in gene-silencing drug deal worth up to $3.7 billion
Danske Bank memo shows how Russians moved money, FT reports, 'highly profitable' mirror trades were used by clients to shift money out of country.
Lenovo, ZTE tumble in wake of China ‘stealth’ chip claims: FT reports, neither company named in Bloomberg investigation alleging technology being compromised.
Reuters: UK cyber security agency backs Apple, Amazon China hack denials
LAT: Birchbox brings prestige beauty to Walgreens
DVF to stop using fur in all upcoming collections.
Netflix signs big lease for Hollywood office tower being built on Sunset Boulevard.
WeWork culture is catching on via the co-working giant's latest endeavor - Powered By We: Diversifying its offerings beyond individuals and small businesses, WeWork is moving into the corporate sphere through new partnerships with Standard Chartered, UBS, and others. It's set to redesign and operate floors - think ping pong tables, beer taps and open floor space - to foster innovative thinking among employees.
Coinbase wants to be too big to fail: Fortune reports, the cryptocurrency-trading startup rose from obscurity to become the first billion-dollar company of the Bitcoin boom. Now founder Brian Armstrong must prove that Coinbase, along with crypto itself, has the staying power to take on Wall Street.
TRENDS + BUZZ
9 highlights from Snapchat CEO’s 6000-word leaked memo on survival https://tcrn.ch/2OKuTKt
CULTURE
Nobel Peace Prize awarded for efforts against sexual violence: WSJ reports, the Nobel Peace Prize was awarded to Congolese doctor Denis Mukwege and Nadia Murad, a former captive of Islamic State, for their efforts to end the use of sexual violence in war.
The University of Michigan raised $5 billion in its fundraising campaign.
HBD: Bob Geldof, KBE, singer, the Boomtown Rats, and organiser of Band Aid/Live Aid, 67
HBD: Kate Winslet, actress, Titanic (1997), 43
From seashore to beehive: 2018's best architectural photography - in pictures http://bit.ly/2OAugTD
COTD | SOTD
The Faces - Ooh La La http://bit.ly/2OIWg7k
SPORT
AFP: Mourinho admits United's form is not good enough
Soccer:
Udinese vs Juventus - Saturday @ 12:00 pm ET
Manchester United vs Newcastle United - Saturday @ 12:30 pm ET
Liverpool vs Manchester City - Sunday @ 11:30 am ET
Valencia vs Barcelona - Sunday @ 2:45 pm ET
PSG vs Olympique Lyonnais - Sunday @ 3:00 pm ET
College Football:
19 Texas vs 7 Oklahoma - Saturday @ 12:00 pm ET
5 LSU v 22 Florida - Saturday @ 3:30 pm ET
6 Notre Dame vs 25 Virginia Tech - Saturday @ 8:00 pm ET
MLB Playoffs:
NLDS:
Braves vs. Dodgers - 9:37 pm ET (LAD leads 1-0)
Rockies vs Brewers - 4:15 pm ET (MIL leads 1-0)
ALDS:
Indians vs Astros - 2:05 pm ET
Yankees vs Red Sox - 7:32 pm ET
