Golan Heights, Syria, Mexico, AT&T, Pep Guardiola, Trade Tensions, Starbucks

Marc Ross Daily
May 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

Subscribe here: https://goo.gl/bSQKwA

TOP FIVE

✔️ Iran fires rockets into Golan Heights from Syria

✔️ Business hates Mexico’s presidential front-runner

✔️ Italian populist parties on verge of deal to govern

✔️ AT&T paid Trump lawyer for ‘insights’ into his boss

✔️ Guardiola eyes 100 points for record-breaking City

GEOECONOMICS

NYT: Iran fires rockets into Golan Heights from Syria, Israelis say

Israel strikes Iranian targets in Syria as regional tensions rise: WSJ reports, Israel’s military carried out strikes against Iranian targets in Syria after it said Iranian forces based there fired rockets at its soldiers in the Golan Heights, raising the risk of a wider regional war.

FT: Israeli aircraft pound Iranian military sites inside Syria

Mahathir seals victory in stunning Malaysia poll win: FT reports, veteran former PM’s comeback ends ruling coalition’s 60-year grip on power.

Italian populist parties on verge of deal to govern: FT reports, Five Star and League in talks after Berlusconi says he will not stand in the way.

Bloomberg: Business hates Mexico’s presidential front-runner. And he doesn’t care https://bloom.bg/2rrlERw

"Andrés Manuel López Obrador, the nation’s anti-Trump, has a 20-point lead in the polls."

China's specter looms over Modi's Nepal visit: Nikkei reports, Indian PM faces diplomatic hurdles but could win votes back home.

China draws up shopping list of US goods to avoid trade war: WSJ reports, China likely will offer to import more U.S. goods during negotiations in Washington next week as the two sides see one of the best ways to avert an all-out trade war is for Beijing to buy American.

US-China trade tensions increase after import delays: FT reports, Chinese inspectors are delaying imports of US agricultural products, luxury automobiles and even pet food, exacerbating tensions just days before bilateral trade talks are scheduled to resume. Industry executives said Chinese officials had not cited bilateral trade friction for any of the delays, which have been caused by more stringent environmental checks and quarantine procedures. Products affected by the new inspections include Lincoln automobiles — exported from the US by carmaker Ford — pork, apples, logs and pet food.

Telegraph: US exports to China hit record $128 billion

"Forty-nine US states have expanded their goods exports to China over the past decade, with 17 states experiencing triple-digit growth."

How China’s ‘Big Fund’ is helping the country catch up in the global semiconductor race: SCMP reports, low-profile fund is leading national effort to catch up in global semiconductor industry by raising funds and backing semiconductor start-ups and research and development.

AMERICAN POLITICS

FT: AT&T paid Trump lawyer for ‘insights’ into his boss

"I’m crushing it": How Michael Cohen, touting his access to President Trump, convinced companies to pay millions: WP reports, he pitched potential clients on his close association with the president, noting he still was President Trump’s lawyer, according to associates. He showed photos of himself with Trump and mentioned how frequently they spoke, even asking people to share news articles describing him as Trump's “fixer.”

NYT - Editorial: Trump’s shadowy money trail: Questions about his finances, and about whether his campaign helped Russia hack the 2016 election, need to be asked in the same breath.

Cohen got millions for insider access outside White House: NYT reports, through a secretive shell company, Michael Cohen, the president’s personal lawyer, was paid by major corporations and a law firm for help navigating Washington in the Trump era.

California is set to become the first state to require solar panels on all newly built single-family houses," effective in 2020.

Bloomberg: ‘Wild West’ Ohio beckons self-driving cars even after Uber death

Scientists: Hawaii volcano could soon spew 10-ton boulders from its summit: WP reports, when the lava level at the top of Kilauea drops to groundwater level, it could trigger powerful explosions that could send debris for miles and unleash torrents of molten rock and toxic gases.

ENTERPRISE

Bloomberg picks Amsterdam for its post-Brexit base.

ZTE says it halted major operations following US sales ban: WSJ reports, Chinese telecom firm ZTE said it halted major business operations, marking the deepest wound inflicted yet in the escalating trade rift between China and the US.

Chinese tech giant may be first victim of new US cold war: NYT reports, the electronics firm ZTE has found success in the American market like few other Chinese technology brands have. Now it is fighting for its life after the Trump administration banned the company from using parts made in America.

China’s ZTE halts operations as US ban bites: FT reports, telecoms group hopes for political solution to crippling sanctions barring US suppliers

AP: Chinese court sentences Anbang founder to 18 years for fraud

Wu Xiaohui, the former chairman of Anbang Insurance Group, had gained a reputation for ambitiously expanding into hotels, real estate and insurance from Canada to South Korea - including New York City’s Waldorf Hotel.

Starbucks: Could it get even more aggressive in China?Barron's reports, Starbucks, which has said it’s aiming for 5,000 shops in China by 2021, could bump that number even higher. "Coffee consumption in China is still a fraction of that of the U.S., but we estimate coffee consumption has grown double-digits over the last 10 years,” UBS analysis, with Starbucks a main beneficiary: The company was responsible for nearly 50% of specialist coffee shop transactions there in 2017, according to UBS data, up from below 35% in 2012.

Uber reveals plans for flying taxi-service by 2023: FT reports, ride-hailing company partners with Nasa to design urban air-traffic control system.

Toyota pours $22bn into R&D as Apple and Google close in: Nikkei reports, CEO calls it a 'fight for survival' as technology reshapes the auto industry.

TRENDS

‘We don’t take cash’: is this the future of money? Tougher for criminals, easier for hackers: what life is really like in a cashless society. https://on.ft.com/2I87s77

CULTURE

NYT: Mormon Church ends century-old partnership with Boy Scouts of America

LAT: 'Law & Order: SVU' inches closer to the record books with Season 20 renewal

SPORT

AFP: Guardiola eyes 100 points for record-breaking City

AFP: Celtics beat Sixers to bookspot in East finals

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

Subscribe here: https://goo.gl/bSQKwA

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