Brexit, China, Mexico, Howard Schultz, Reese Witherspoon, Vermont
Marc Ross Daily
June 5, 2018
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
Marc Ross Daily = Business News at the Intersection of Global Politics + Policy + Profits
Subscribe here: https://goo.gl/bSQKwA
TOP FIVE
✔️ UK hints at staying in European VAT area after Brexit
✔️ How China skirts America’s antidumping tariffs on steel
✔️ Mexico slaps tariffs on US steel, agricultural products
✔️ Howard Schultz will leave Starbucks at end of month
✔️ Manafort attempted to tamper with potential witnesses
GEOECONOMICS
Reuters: Trade war turns Canada's G7 summit into six-plus-Trump
FT: UK hints at staying in European VAT area after Brexit
"Britain takes ‘active role’ in shaping tax rules for 2020s despite leaving the EU"
The case for a second Brexit referendum https://ind.pn/2Ja3Ea9
The Times: May has a week to head off Tory rebellion over EU customs union
Brexit Britain wants to be a world leader in driverless vehicles: Bloomberg reports, the government is awarding 25 million pounds ($33 million) this week to as many as six projects that will research and test autonomous vehicles on highways and on trials of remote-control parking.
AFP: Switch to e-cars will cost Germany 75,000 jobs: study
France: Emmanuel Macron hosts Benjamin Netanyahu in Paris.
How China skirts America’s antidumping tariffs on steel: WSJ reports, government-backed manufacturers have avoided steep US and EU levies by shutting production at home and expanding overseas.
US can slow China’s manufacturing upgrade, Moody’s says: Caixin reports, in the long run, however, China can succeed in moving its industrial sector up the value chain.
China revives its push to make the yuan go global: Bloomberg reports, after more than two years on the back-burner, there are signs that China is once again focusing on its efforts to increase the yuan’s status in global finance. The yuan grabbed a record 2.8 percent slice of global payments three years ago, before a crackdown on outflows in the wake of the 2015 devaluation saw that figure shrink to 1.7 percent as of April.
Former US intelligence officer accused of trying to spy for China: FT reports, a former US intelligence officer has been arrested after allegedly trying to sell American defence secrets to China, during a period of heightened tension between Beijing and Washington over both trade and national security. Ron Hansen, a former Defense Intelligence Agency officer, was arrested by US authorities at the weekend on federal charges, including the attempted transmission of national defence information to China’s government.
Defense Secretary Jim Mattis told reporters Sunday that the roughly 28,000 US troops based in South Korea are “not going anywhere.”
Reuters: Mexico slaps tariffs on US steel, agricultural products
AMERICAN POLITICS
Today is Day 501 of the Trump presidency. Enjoy the ride.
Reuters: Manafort attempted to tamper with potential witnesses -US special counsel
"Manafort had attempted to call, text and send encrypted messages in February to two people from "The Hapsburg Group," a firm he worked with to promote the interests of Ukraine."
WP: Trump’s legal team readies for fraught showdown with Mueller, even as president declares broad powers
ESPN: Eagles' visit to White House canceled over national anthem dispute
NYT: Trump abruptly calls off Eagles Super Bowl celebration at White House
Business economists worry about possible recession in 2020: AP reports, the National Association for Business Economics says in its latest quarterly outlook that its panel of 45 economists expects the economy, as measured by the gross domestic product, to expand 2.8 percent this year. That is down slightly from the panel’s March forecast, which put GDP growth this year at 2.9 percent.
Reuters: California, New Jersey primaries crucial to November US elections
In California, Democrats have targeted 10 of the 14 seats held by Republicans.
California’s unusual primaries heighten stakes for parties: WSJ reports, eight states hold primaries Tuesday. The most important contests are in California, where the top two vote-getters—regardless of their party—will advance to the general election. Both parties are at risk of being shut out of key elections for Congress and governor.
LAT: Today is make or break for Democrats in California's House races
WSJ: Koch-backed groups launch campaign to end tariffs
Sard Verbinnen has named former RNC chair Ed Gillespie as the chairman of its just-launched Washington public affairs practice.
ENTERPRISE
Facebook has been sharing “deep data” about its users through partnerships with at least 60 device makers during the last decade.
AccorHotels is considering an investment in Air France-KLM which would bring the company that much closer to being a full-service travel service organization.
Tesla has roughly 11,000 energy storage projects currently underway on Puerto Rico.
Singapore Airlines’ affiliate Vistara is expected to buy 60 jets from Airbus.
SBUX: Howard Schultz is stepping down from his role as executive chairman of Starbucks, effective June 26, according to a memo sent to employees Monday.
@andrewrsorkin: Breaking News: Howard Schultz will leave @Starbucks at end of month. End of era. Says he will consider “public service” among options. Speculation will mount about 2020.
Inside tip - he's running.
Rossignol has partnered with IDG Capital to expand in China, seizing the opportunity presented by the 2022 Beijing Olympic Winter Games.
Twitter is slated to join the S&P 500 before trading opens on Thursday.
Sydney joins Airbnb crackdown to ease rental concerns: FT reports, Paris, Tokyo and Madrid to add to cities restricting short-term holiday lets.
Nikkei: Walmart-Flipkart deal in question as Indian trade bodies protest
Rue La La is buying Gilt.
Mastercard has ended its international Goals for Meals campaign after a backlash.
Tyson Foods acquires Smart Chicken brand in bid to boost organic business.
Here's Adidas' 90-second World Cup ad http://bit.ly/2sF1CDK
TRENDS
'Frenemies' by Ken Auletta, a tour through ad industry hell http://bit.ly/2sHYvuB
The best cities in America according to Resonance Consultancy, in ranking order, the top 10 big cities (and their lead attributes) were:
1. New York (culture, nightlife)
2. Chicago (conventions, nightlife)
3. Los Angeles (social media clout, diversity)
4. San Francisco (household income, educational attainment)
5. Las Vegas (attractions, culture)
6. San Diego (quality of natural and built environments, household income)
7. Houston (restaurants, number of Fortune 500 companies)
8. Miami (diversity, quality of natural and built environments)
9. Seattle (educational attainment, household income)
10. Boston (quality of natural and built environments, safety)
CULTURE
OTD: In 1944, just before midnight, airborne troops took off from English airfields on their way to Normandy for D-Day
Vermont will pay workers up to $10,000 to move to the state and telecommute.
How Reese Witherspoon is flipping the script on Hollywood: The Hello Sunshine founder is channeling women’s voices into top-tier entertainment–and altering the dynamics of the entire industry along the way. http://bit.ly/2sDivOY
SPORT
Time: By canceling Eagles visit, Trump hands the NFL another anthem headache
Hockey: The Washington Capitals are one win away from their first Stanley Cup - game 5 set for Thursday night.
Chinese athletes to receive training in Alaska for 2022 Olympics: Xinhua reports, some of China's athletes will arrive in the United States northwest state of Alaska soon to take training for the 2022 Winter Olympics to be held in Beijing, Alaska KVTA TV channel reported Monday. The training program is part of a memorandum of understanding (MOU) signed between Alaska Pacific University (APU) and the sports authorities of Heilongjiang province in northeast China during an Alaska trade mission led by Alaska Governor Bill Walker to China last month.
Do you speak ‘World Cup’? https://on.ft.com/2Jc4YcD
AFP: Beckham backs North America World Cup bid
2018 World Cup groups: Previews and predictionshttps://wapo.st/2kO6gf5
RIP: Dwight Clark, former 49ers wide receiver best known for making “The Catch” off a Joe Montana pass in the 1982 NFC championship game, has died at 61 after battling amyotrophic lateral sclerosis (ALS).
Golf: Discovery has a 12-year, $2 billion deal with the PGA Tour that gives the company exclusive international rights to televise and stream some 150 golf tournaments.
