New Tariffs, Japan, Sadiq Khan, Two Buck Chuck, Sandra Oh, Larry Page
Marc Ross Daily
September 17, 2018
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
Marc Ross Daily = Business News at the Intersection of Globalization, Disruption, and Politics
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TOP FIVE
✔️ Trump to announce new tariffs on $200 billion in Chinese imports
✔️ Japan = 20% now 70 or older
✔️ London Mayor Sadiq Khan calls for a second Brexit vote
✔️ Kavanaugh nomination in turmoil
✔️ Where in the world is Larry Page?
ROSS RANT
Stress is caused by the things you don't do.
GEOECONOMICS
WSJ: Trump to announce new tariffs on $200 billion in Chinese imports
"Trump's decision—to go into effect within weeks—is designed to give the US more leverage in discussions with China over allegations that Beijing coerces American firms into handing over valuable technology to Chinese partners."
US, China ramp up trade threats, imperiling negotiation efforts: WSJ reports, Trump’s economic conflict with China is set to escalate this week, as the administration plans to unveil fresh tariffs on $200 billion in Chinese products entering the U.S. and Beijing debates new ways to retaliate.
Nikkei: China weighs skipping trade talks after US tariff threat
As trade war mounts, China’s Wall Street allies lose clout: NYT reports, Beijing long turned to big banks to help get its way in Washington, but the old back channels have proven ineffective when it comes to new trade tensions.
China plans to ask the World Trade Organization to impose sanctions on the United States for failing to comply with a ruling regarding its dumping duties, according to an agenda for the Sept. 21 meeting.
FT: Super typhoon leaves 64 dead in Philippines
Nikkei: Japan crosses new aging milestone, with 20% now 70 or older
Abe signals shift in priorities to easing labor shortages.
Korea talks lay the groundwork for second Trump-Kim summit: FT reports, Seoul tries to smooth tensions as denuclearization of North hits impasse.
Nikkei: Thailand to double airport capacity, surpassing Singapore's Changi
Airport high-speed railway could draw China-Japan investment, says minister.
Thomas Wright: The return to great-power rivalry was inevitable: With neo-authoritarianism on the rise, the old assumptions undergirding a common set of Western values just won’t do.
AFP: London Mayor Sadiq Khan calls for second Brexit vote
Brexit dilemmas top agenda at EU’s Salzburg summit: WSJ reports, European Union leaders will hold their first serious discussions on Brexit since March at a summit in Austria on Thursday as both the U.K. and the rest of the bloc step up preparations to reduce major economic disruptions if a deal isn’t reached.
Boost for May as EU backs Irish border plan: The Times reports, European Union is secretly preparing to accept a frictionless Irish border after Brexit in a move that raises the prospect of Theresa May striking a deal by the end of the year. In a concession to British concerns, EU negotiators want to use technological solutions to minimize customs checks.
High-tech solution raises deal chances.
Wolfgang Münchau: EU citizens in Britain should prepare for worst: If there is a hard Brexit, the status of Europeans in the UK will be uncertain.
Deutsche plans to shift more assets from London: FT reports, Blow to City as bank bows to ECB pressure and eyes moving 75% of its balance sheet
FT: Argentina to set out austerity budget
Allies of President Macri confident of support for measures to cut the deficit.
AMERICAN POLITICS
Florence flooding threatens to last for days: WSJ reports, Florence doused the Carolinas for a third day with unrelenting rain that unleashed widespread flooding Sunday, and officials in the region warned residents that the menace would persist for days.
'Worst is yet to come' from Florence's drenching rains: Reuters reports, Florence kept dumping rain on North Carolina and officials warned residents that "the worst is yet to come" from a storm that has already killed at least eight people, as rivers inland were likely to flood.
The economy is humming, but Trump is tweeting. Republicans are worried: NYT reports, as Democrats enter the fall midterm campaign with palpable confidence about reclaiming the House and perhaps even the Senate, tensions are rising between the White House and congressional Republicans over who is to blame for political difficulties facing the party, with President Trump's advisers pointing to the high number of G.O.P. retirements and lawmakers placing the blame squarely on the president's divisive style.
"This is very much a referendum on the president" -- Representative Tom Cole (R-OK)
House Election 2018:
57% of strong Trump supporters believe it's unlikely Democrats win the House.
FiveThirtyEight website gives Democrats an 83.1% chance of winning control over the House.
Kavanaugh accuser comes forward over alleged assault: WSJ reports, a woman who has accused Supreme Court nominee Brett Kavanaugh of sexual assault when they were teenagers went public with her name, injecting immediate uncertainty into Republicans’ push to quickly confirm the next high-court justice.
NYT: Kavanaugh nomination in turmoil as accuser says he groped her decades ago
SCOTUS: The Senate Judiciary Committee's planned September 20 vote on Kavanaugh's nomination is expected to go on.
The Senate is in session this week, but the House is not.
Senate Majority Leader Mitch McConnell (R-KY) is planning to keep the chamber in session for much of October.
LAT: A lot has changed in America's heartland. One Iowa town drew the line at its movie theater https://lat.ms/2OwFzJj
Immigration. Technology. Trump.
Webster City — population about 7,700 — is a miniaturist portrait of a changing nation.
Bloomberg: Dimon Rules out a run in 2020, regrets ‘machismo’ in Trump snub
Big Tech: Representatives from six major online companies, including AT&T Inc. and Google, have been invited to testify before the Senate Commerce Committee on Sept. 26 about their consumer data privacy practices. The hearing is called "Examining Safeguards for Consumer Data Privacy."
ENTERPRISE
Where in the world is Larry Page? Bloomberg reports, while Alphabet faces existential challenges, its co-founder is exercising his right to be forgotten.
The Hustle: The inglorious rise of Two Buck Chuck: The tale of two men, one wine brand, and the economic revolution of an entire industry. http://bit.ly/2Oo0u0S
WSJ: Time Magazine sold to Salesforce founder Marc Benioff for $190 million
Taxify rides motorbikes to lead over Uber in Africa: WSJ reports, Estonian startup Taxify has outpaced Uber in six African countries: Both are now tapping motorbikes, a popular mode of transportation for hire in the region.
Native Deodorant, an online-only brand, will go on sale in Target.
Walmart finally makes it to the Big Apple: WSJ reports, for years, the giant retailer faced political resistance in New York City, but now it has a foothold through its e-commerce site, Jet.com, which is starting a new push.
NYT: Mary Meeker, the ‘queen of the internet,’ is leaving Kleiner Perkins to start her own fund
FT: Coca-Cola to tap Costa’s coffee supply chain
Shift to bricks-and-mortar retail not a priority after Costa deal.
Netflix looks to walk away from today's Emmy awards with more trophies than HBO, potentially toppling the cable network from its perch for the first time in 17 years.
AFP: JPMorgan Chase chief: banking system healthy 10 years after meltdown
Bloomberg: Henri Bendel,123-year-old luxury retailer, closes the doors
TRENDS + BUZZ
How to stay fit forever: 25 tips to keep moving when life gets in the way http://bit.ly/2Oso9NQ
FT & McKinsey business book of the year award: The shortlist https://on.ft.com/2Ou0Cfe
Future of capitalism, from universal basic income to India’s rise, dominates annual prize.
A Trump effect at journalism schools? Colleges see a surge in admissions. WP reports, at the University of Maryland, an estimated 130 freshmen are entering the journalism college this fall, up 50 percent compared with the previous year.
CULTURE
Today: The Primetime Emmy awards ceremony will be held in Los Angeles
LAT: Emmys preview: Will Sandra Oh make history? What comedy series takes over for "Veep"? How many more Emmys could "Saturday Night Live" possibly win?
HBD: Bryan Singer, film director, The Usual Suspects (1995), Bohemian Rhapsody (October 2018), 53
SPORT
An ex-owner of the Dodgers takes another swing in Marseille: NYT reports, Frank McCourt’s ownership of the Los Angeles Dodgers is not remembered fondly, but he is hoping the lessons he took from that experience help with his new team, Olympique de Marseille.
FT: Ronaldo: Why Juventus gambled €100m on a future payday https://on.ft.com/2OrVc4p
“It was the first time that the commercial side and the sporting side of Juventus came together in assessing the costs and benefits [of a signing],” says Mr Agnelli, a scion of the billionaire family that has owned the club for 95 years. “The opportunity of Ronaldo was thoroughly assessed . . . and it made sense, both on and off the pitch.”
AP: Scott Dixon adds fifth IndyCar championship to resume
