China 2025, Macron, Pompeo, Caterpillar, Wine, Avicii, Champions League
Marc Ross Daily
April 24, 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
✔️ How ‘Made in China 2025’ became the real threat in a trade war
✔️ India and China jostle for influence in Iran and Central Asia
✔️ Macron visits Trump
✔️ Panel backs Pompeo for Secretary of State
✔️ Global wine output fell to its lowest level in 60 years
GEOECONOMICS
LAT: How ‘Made in China 2025’ became the real threat in a trade war: Made in China 2025 is at the core of a trade dispute with Washington that threatens to cripple the global economy. So what is it? https://lat.ms/2KbtQ0T
US brands suffer collateral damage in Chinese corporate war: AP reports, as the Trump administration pushes China to play by fair trade rules, companies are caught in a quieter but no less crucial struggle for fair access to a $610 billion online marketplace, an AP investigation has found. Executives from five major consumer brands told the AP that after they refused to enter exclusive partnerships with Alibaba, traffic to their Tmall storefronts fell, hurting sales.
In ZTE battle, U.S. suppliers are collateral damage: WSJ reports, American companies that supply chips, antennas and other gear to ZTE are bracing for a sizable revenue loss after the U.S. said they no longer would be able to sell components to the Chinese telecommunications giant.
China fails to get Indian support for Belt and Road ahead of summit: Reuters reports, China failed to get India's support for its ambitious Belt and Road infrastructure project at the end of a foreign ministers' meeting of a major security bloc on Tuesday, ahead of an ice-breaking trip to China this week by India's prime minister.
India and China jostle for influence in Iran and Central Asia: Nikkei reports, New Delhi's 7,000km transport corridor cuts across Beijing's Belt and Road.
Weak business morale from Germany, France, Italy points to slowdown: Reuters reports, business morale in Germany, France and Italy -- the euro zone's three biggest economies -- deteriorated in April as a stronger currency and capacity constraints limited output, signaling that growth in the currency bloc has reached its peak.
WSJ: Macron visits Trump, hoping to bridge policy gaps
NYT: Macron hopes bond with Trump will help save Iran deal
Trump participates in a joint press availability with the President of France @ 11:45 am ET
'No jeans' rule causes boules blues in France: AFP reports, must one be nattily dressed to play boules? Rules outlawing the wearing of jeans during the national championship in France have provoked an outcry from fans of the famed Gallic game. Often played in parks, traditionally with a glass of wine or aniseed liquor in hand, boules or "petanque" is usually an informal affair in France that unites young and old from all social backgrounds.
AMERICAN POLITICS
After vote switch, panel backs Pompeo for Secretary of State: NYT reports, minutes before a Senate committee vote, Senator Rand Paul, Republican of Kentucky, bowed to pressure and backed the confirmation of Mike Pompeo to be secretary of state, avoiding a major rebuke of Trump.
Reuters: Senate committee paves way for Pompeo to become top U.S. diplomat
WP: Senate to delay confirmation hearing for Jackson to head Veterans Affairs
Trump's next $100 billion tariff dilemma: hit Wal-Mart or Apple Store?Reuters reports, U.S. consumers may be about to directly feel the effects of the trade fight started by U.S. President Trump with China and other countries this year when a new list of Chinese imports to be taxed is announced in coming days.
Trump is pushing hard to reach NAFTA agreement, both with trading partners and with Congress: LAT reports, the administration is trying to beat political deadlines and wrap up talks on NAFTA.
ENTERPRISE
Caterpillar raised its earnings forecast in a sign that industries from mining to energy are shrugging off trade tensions and gaining momentum. Shares surged.
Great sign for the global economy - expansion continues
Reuters: Softbank, Google join $1.9 billion investment in China truck-hailing firm
FT: NYSE challenges NASDAQ’s reign as king of the tech IPO
Bloomberg: The Chinese car invasion is coming to America
Starbucks is embracing the drive-thru lane - 80% of all its new U.S. cafes will have them.
Amazon can now deliver packages to your car: WSJ reports, the e-commerce company said it has teamed with General Motors and Volvo Cars to start offering in-car deliveries, giving its couriers access to potentially millions of vehicles in 37 U.S. markets.
Reuters: To beat porch thieves, Amazon slips packages in car trunks
WeWork aims to tap debt markets in expansion drive: FT reports, shared office space provider valued at $20bn by last year’s SoftBank investment.
Ford changed leaders, looking for a lift. It’s still looking. NYT reports, after 11 months as chief, Jim Hackett has yet to satisfy those looking for a clear articulation of a strategy. But big moves could be in the offing.
FT: Puma prepares to shift production from China over tariff fears
Volkswagen to invest $18bn in China by 2022: Nikkei reports, new chief Diess says to builds six EV plants in world's largest auto market.
Reuters: Arrested Chevron workers could face treason charge in Venezuela - sources
Wine: Global wine output fell to its lowest level in 60 years in 2017 due to poor weather conditions in the European Union that slashed production in the bloc.
TRENDS
Reuters: Music streaming overtakes physical sales for the first time: industry body
"Online streaming services such Spotify and Apple Music have become the music industry’s single biggest revenue source"
CULTURE
RIP Avicii: Hard-living Swedish ‘superstar DJ’ who made dance music anthems for millennials, but struggled with fame and anxiety.
Australia boy, 12, runs away to Bali usingfamily credit card: AFP reports, Australian police were Tuesday investigating how a 12-year-old boy managed to fly alone to the Indonesian island of Bali and spend four days at a resort using his parents' credit card. The boy ran away from his Sydney home after a row with his mother, flying first to the Western Australian city of Perth on budget airline Jetstar and then on to Bali, according to commercial broadcaster Channel Nine.
SOTD
Avicii - Wake Me Up http://bit.ly/2vEQv2v
SPORT
Carlo Ancelotti is set to be given the job of reviving the fortunes of Italy's national team, according to reports on Tuesday.
Champions League - Semi-Finals:
Tuesday = Liverpool v Roma @ 2:45pm ET
Wednesday = Bayern v Real Madrid @ 2:45pm ET
May 1 = Real Madrid v Bayern @ 2:45 pm ET
May 2 = Roma v Liverpool @ 2:45 pm ET
