Brexit, IMF, Angela Merkel, Emmanuel Macron, Netflix, Volkswagen, The Masters

Brexit, IMF, Angela Merkel, Emmanuel Macron, Netflix, Volkswagen, The Masters

Caracal Global Daily
April 11, 2019
Curation and commentary from Marc A. Ross

Reporting from Alexandria, Virginia 

Caracal Global Daily  = News + Analysis at the Intersection of Globalization + Disruption + Politics

TOP FIVE

✔️ EU leaders agree to six-month Brexit delay

✔️ Gliding missiles that fly faster than Mach 5 are coming

✔️ Netflix is making a major play for the Egyptian Theatre in Hollywood

✔️ Chuck E. Cheese operates 515 locations nationwide

✔️ HBD: Jeremy Clarkson, TV presenter, Top Gear and Grand Tour

GLOBALIZATION

WSJ: WikiLeaks’s Assange arrested at Ecuador embassy in London

Assange has been holed up for almost seven years. 

IMF warning: The IMF's new chief economist, Gita Gopinath, does not foresee a global recession, but she does warn of "many downside risks." The fund reckons global growth will be 3.3% this year—a 0.2 percentage point downgrade from earlier forecasts—and 3.6% next year. Particular weaknesses are seen in the U.K., Germany, Italy, Latin America, the Middle East and North Africa.

Europe’s small, open countries brace for Brexit: Ireland, the Netherlands, and Belgium are most exposed.

EU gives UK more time to resolve Brexit: WSJ reports, European Union leaders agreed to postpone Brexit until Oct. 31 to allow British Prime Minister Theresa May more time to try to get the UK’s Parliament to approve the country’s divorce deal with the bloc.

EU leaders agree to six-month Brexit delay: FT reports, Theresa May told she has until end of October to finalize UK’s departure.

The prime minister is due to update the Commons today on the new deadline of October 31, which was set at the extraordinary European Council.

Iain Duncan Smith led calls for Theresa May to name her departure date following the news overnight that Brexit would be delayed for a further six months.

UK business lobby accused this morning of “driving small firms to despair” with “debating, dithering and delay” in the three years since Britain voted to leave the European Union. 

Philip Stephens: Britain can now change its mind about Brexit: Macron’s emergence as a latter-day de Gaulle should not stop a second referendum.

Angela Merkel vs. Emmanuel Macron: Battle between her legacy and his future plays out at summit.

Renewed tensions between Italy and Brussels: Italy's populist government has conceded it won’t hit the budget-deficit target agreed on with EU authorities, setting the stage for another standoff with Brussels. The finance ministry said this year's deficit will be 2.4% of GDP, rather than 2% agreed upon in December after tense negotiations. Those discussions resulted in a rise in borrowing costs for Italian banks, businesses, and households, reviving memories of the eurozone’s 2010-12 debt crisis, from which Italy has yet to fully recover.

Did Russia meddle in Magadascar's election? A BBC investigation has revealed that at least six candidates were offered money by Russians in the lead up to last year’s presidential elections in Madagascar. The presence of Russian political strategists with alleged ties to the Kremlin, posing as tourists with the alleged aim of helping to control the tightly fought race, has raised questions whether democracy in the former French colony has been fatally compromised. https://bbc.in/2Kq5tRi

US military wary of China’s foothold in Venezuela: Foreign Policy reports, the head of US Southern Command says Beijing is using disinformation and debt diplomacy to dig in as Maduro clings to power. 

US warship cruises disputed sea in Philippine war games: AFP reports, the amphibious assault ship USS Wasp, with at least 10 F-35B stealth jets on deck, stood guard as amphibious tanks rolled onto a Philippine beach located a short sail from islands also claimed by China.

China sweetens its cloud offer in US trade talks: WSJ reports, Beijing sweetened an offer to open its cloud-computing sector to foreign companies, in a bid to forge a trade deal after U.S. negotiators rejected an earlier proposal.

US, China agree to establish trade deal enforcement offices: Mnuchin: Reuters reports, the United States and China have largely agreed on a mechanism to police any trade agreement they reach, including establishing new "enforcement offices," US Treasury Secretary Steven Mnuchin said on Wednesday.

Janah Ganesh: Donald Trump’s trade obsession keeps the peace with China: The US president is not interested in a clash of philosophies because of his fixation.

Hong Kong's stock market capitalization overnight surpassed Japan's for the first time since the Chinese equity bubble popped in 2015.

FT: Japan wants better access to US in return for free trade deal

Tokyo says Trump administration will have to offer significant concessions.

An agreement that does not include concessions to Japan would be illegal under World Trade Organization rules and stands no chance of ratification by Japan’s Diet, according to a senior trade official directly involved in preparations for the talks.

Nikkei: China's 'Japan hands' make comeback as US ties wilt

Newly appointed Tokyo ambassador puts Rolodex in motion for Xi visit preparation.

As China's next ambassador in Tokyo, Kong Xuanyou will pave the way for President Xi Jinping to visit Japan, possibly twice, this year. 

Australia to pick its next leader—with an election: WSJ reports, Australia’s conservative government said it would hold national elections on May 18, betting on tax cuts and security spending to fend off a challenge by center-left opponents.

Australia will hold new elections in May: DW reports, Prime Minister Scott Morrison moved to dissolve parliament and call for new elections. The conservative leader will face a challenge from center-left Labor leader Bill Shorten, who currently leads in the polls.

Edward Luce: Trump is building a populist global club: Benjamin Netanyahu’s win would not have happened without the US president’s help.

AFP: Sudan's defence minister says army has arrested President Omar al-Bashir

Sudan’s military overthrows the president, ending his 30-year rule: WP reports, the apparent ouster of President Omar al-Bashir came after months of growing protests across Sudan.

In letter on clerical sex abuse, Pope Benedict XVI decries ’60s sexual revolution, describes seminaries filled with ‘homosexual cliques’: WP reports, the pope emeritus broke his years of silence on major church affairs, attributing the clerical sex abuse crisis to a breakdown of church and societal moral teaching and said he felt compelled to assist “in this difficult hour.”

DISRUPTION

Black hole picture captured for first time in space ‘breakthrough’: The image of a black hole captured by the Event Horizon Telescope. Photograph: EHT Collaboration.

A network of eight radio telescopes around the world helped to record the image.

Hypersonic missiles: Gliding missiles that fly faster than Mach 5 are coming. They combine the speed of intercontinental ballistic missiles with the accuracy of cruise missiles.

10 breakthrough technologies for 2019 curated by Bill Gates. http://bit.ly/2UNpXqY

POLITICS

Ex-Obama counsel expects to be charged soon in Mueller-related case: NYT reports, Gregory B. Craig may soon be indicted on charges related to his work for the Russia-aligned government of Ukraine, lawyers said. Craig would become the first top Democrat to be charged in a case developed by the special counsel.

Pete Buttigieg challenges religious right on their own turf: NYT reports, Buttigieg has confronted evangelicals like Vice President Mike Pence, questioning the moral authority of religious leaders who have stayed silent on Trump’s conduct.

New York City declares a public health emergency over measles outbreak, mandates vaccination: New York City declared a public health emergency yesterday over a measles outbreak that has sickened 285 people — most of them in an Orthodox Jewish community — since last fall.

COMMERCE

Netflix continues pursuit for Oscar glory: In a deal reported to be worth tens of millions of dollars, Netflix is making a major play for the Egyptian Theatre in Hollywood. Owning the cinema would allow Netflix to more easily showcase films that it wants to put up for Academy Award contention without dealing with traditional theatrical release windows.

JetBlue appears to be gearing up for service across the Atlantic.

YouTube broadens its already huge array of e-sports content.

Standard & Poors is rolling out a new version of its S&P 500 index, but focused on "socially-minded" companies.

Standard Chartered will pay US and British authorities more than $1 billion to settle a probe over allegedly violating Iran sanctions.

Boeing revealed it received zero 737 Max orders last month.

Chuck E. Cheese: The company averages $1.6 million per restaurant and operates 515 locations nationwide.

NYT: Uber is said to aim for IPO valuation of up to $100 billion

Volkswagen AG is exploring purchasing a big stake in its Chinese electric vehicle joint venture partner JAC Motors.

The twilight of combustion comes for Germany's empire of engines: The nation that invented the heart of the car at the dawn of the 20th century might struggle to adapt to the coming electric era. https://bloom.bg/2KtP0LJ

Nikkei: Tesla and Panasonic freeze spending on $4.5bn gigafactory

The Japanese company also suspends planned investment in Shanghai plant.

Walmart to refit 500 more stores to lure back online shoppers: FT reports, biggest US retailer focuses on improving existing estate as it battles with Amazon.

What is Huawei and why is the US government so afraid of it? LAT reports, Ren Zhengfei turned a company with no intellectual property into the world’s largest telecom. Washington says he had help from Beijing.

WP: Stadium wants to be America’s biggest sports network. And it doesn’t want to be on cable.

CULTURE

“Killing Eve” delights because it is so anti-Bond: The series, which has recently returned for a second season, plays with the tropes of the thriller genre. https://econ.st/2KnNN8G

Will Apple just kill iTunes already? Adam Clark Estes writes, people have been complaining about iTunes for ages. The bloated and confusingly arcane piece of software has been updated and repurposed and jerry-rigged to handle new tasks for the past 18 years, and one developer says it won't live to see its 19th birthday.

HBD: Jeremy Clarkson, TV presenter, Top Gear and Grand Tour

Simon Kuper: Why the elite media are surviving in this populist age: ‘A reader introduced himself as “an FT/Economist liberal”. Elite media are becoming clubs.’

The bursting, beautiful shelves of famous bibliophiles: Amid the decluttering craze, we asked José Andrés, Andrew Sean Greer and other famous book lovers for the stories behind their collections. https://wapo.st/2KtlFkM

SPORT

The Masters tournament begins at Augusta National Golf Club in Georgia.

Benjamin Netanyahu, Brett Kavanaugh, Emma Corrin, Jim Hackett, Magic Johnson

Benjamin Netanyahu, Brett Kavanaugh, Emma Corrin, Jim Hackett, Magic Johnson

Caracal Global Daily
April 10, 2019
Curation and commentary from Marc A. Ross

Reporting from Alexandria, Virginia 

Caracal Global Daily  = News + Analysis at the Intersection of Globalization + Disruption + Politics

TOP FIVE

✔️ EU announces 'breakthrough' on trade with China

✔️ Gas-guzzling SUVs become election battleground in Australia

✔️ College grads sell stakes in themselves to Wall Street

✔️ Barr says release of Mueller report can come within a week

✔️ Magic Johnson resigns as president of LA Lakers

GLOBALIZATION

Israel’s Netanyahu appears set for fifth term in tight vote: WSJ reports, Prime Minister Benjamin Netanyahu was in a strong position to form Israel’s next government after a tight election, with most major right-wing parties voicing support for him to lead Israel for a fifth term.

Netanyahu bloc heads towards victory in Israel poll: FT reports, rightwing alliance depends on small parties to form governing coalition.

AFP: Large parts of Venezuela hit by new blackout

Canada considers topping up tariffs on US goods: AFP reports, Canada is considering adding to its list of retaliatory tariffs to crank up pressure on Washington to drop aluminum and steel levies, Foreign Minister Chrystia Freeland said Tuesday. "We are looking at... ways we can refresh the retaliation list to have an even greater impact," Freeland told reporters in Ottawa.

EU to give UK an exit extension: WSJ reports, European Union leaders are preparing to grant British Prime Minister Theresa May more time to win backing in Parliament for an agreement to leave the bloc.

France signals UK could stay in EU almost another year: FT reports, diplomats discuss new Brexit date as late as March 2020 but insist on tough conditions.

Britain and EU wrestle with Boris Johnson question: FT reports, the focus in discussions between the UK’s Conservative and Labour parties is on providing assurances that a new Tory prime minister does not rip up any cross-party accord on future relations with the EU. Diplomats in Brussels are concerned with a similar issue, as the EU’s 27 other member states consider Britain’s request to delay its departure from the bloc. A big preoccupation ahead of a crucial summit on Wednesday is how to prevent a more Eurosceptic UK government from disrupting the bloc’s affairs from within.

Leonid Bershidsky: Brexit Britain is tired of weak leaders: Voters says they want strong leaders, but that doesn’t mean they are giving up on democracy. 

Italy cuts growth forecast sharply lower to 0.2%: DW reports, Italy's populist government has confirmed that the economy is effectively stagnating. It also raised its projected budget deficit as it seeks to maintain early retirement and basic income programs.

Ferdinando Giugliano: Reality catches up with Italy's populists: The government has admitted growth won't be what it hoped. It now needs to grasp the consequences of that.

New Zealand passes gun law banning high-powered rifles: SMH reports, the banning of a range of rifles will become law in New Zealand less than a month after the massacre that prompted the swift change.

Gas-guzzling SUVs become election battleground in Australia: Bloomberg reports, faced with an uphill battle to retain power in next month’s elections, Australia’s prime minister has found a new rallying cry: a pledge to protect drivers of gas-guzzling SUVs from a global push to switch to battery-powered electric vehicles. It’s already set Scott Morrison at odds with a global investor group, a vocal technology billionaire and Tesla Inc.’s Elon Musk. Morrison is attacking the main opposition’s Labor Party’s proposal to boost adoption of EVs, saying it’s an assault on motorists’ freedoms and love of vehicles that have some “grunt.”

Japan: An evacuation order for residents of Okuma town in Fukushima is partially lifted for the first time since the earthquake and tsunami in 2011 led to a nuclear disaster.

Nikkei: Vietnam's top telecom to adopt 'self-developed' 5G tech

State-owned Viettel's move comes as neighbors lean toward Chinese technology.

China stresses investment, invokes New Zealand massacre in defending treatment of Muslims: WSJ reports, Chinese authorities defend razing of Muslim neighborhoods and accuse critics of ‘slanderous fabrication.’

US firm's plan for Australia-China internet cable leaves Huawei trailing: Reuters reports, US submarine cable company SubCom said on Thursday it would lay an internet link from Australia to Hong Kong through Papua New Guinea, deepening its involvement in a region where China’s Huawei Technologies Co Ltd has sought to expand.

Bloomberg: Sends warship carrying fighter jets to disputed sea in signal to China

FT: Microsoft worked with Chinese military university on AI

"Concerns raised on research that could be used for surveillance and censorship."

Martin Wolf: Xi Jinping’s China seeks to be rich and communist: President’s ambitions rely on avoiding ‘middle-income trap’ and placating a more demanding populace.

EU announces 'breakthrough' on trade with China: DW reports, China has vowed at a summit with the EU not to make companies share intellectual property. The talks marked a significant shift for Beijing amid growing concerns about China's influence in Europe.

China in Africa: The Zambia experience: Many Africans are worried by the increasing presence of China on the continent. But how much is China really involved? A DW team traveled to Zambia to investigate how China has taken control of key infrastructure. http://bit.ly/2KotsjN

FT: Montenegro fears China-backed highway will put it on road to ruin

"some diplomats in Brussels and influential EU member states have long worried that China is attempting to use the so-called “16+1” format as a Trojan horse to divide the EU and weaken the vulnerable Balkan countries. Beijing denies any such intent."

As Balkans sit in EU's waiting room, China gets to work: AFP reports, from coal plants to airports and bridges, China is forking out for investments across the western Balkans, laying groundwork for a new battle for influence on the European Union’s fringe.

China could be big winner in no-deal Brexit: DW reports, no-deal Brexit would hit the EU and developing countries, but bring big gains for China and the US, a new report says. Unwinding economic integration is not only complex, but doing so is a bad idea, its author says.

Malpass signals continuity as he takes World Bank helm: FT reports, the Trump ally takes conciliatory tone on climate change and China on his first day.

DISRUPTION

Blamed for climate change, oil companies invest in carbon removal: NYT reports, Chevron, Occidental Petroleum, and BHP have invested in a start-up developing technology to take carbon out of the atmosphere.

@SpaceAngels: The Q1 2019 Space Investment Quarterly is now live! In the first quarter alone, $1.7B of equity capital was invested into Space companies, nearly double the amount deployed in Q4 2018. Download the entire report here: http://bit.ly/Q12019SIQ 

Peter Layton: Prototype warfare in the fourth industrial age: A new industrial process is rapidly emerging.  This fourth industrial revolution (4IR) based on hyper-connectivity brings with it both continual – indeed relentless – innovation and the possibility of practical large-scale prototype warfare. The interweaving of the second and third industrial revolutions is creating the fourth. This new deep integration allows a continuous and cyclical flow of information and actions between the physical and digital worlds. http://bit.ly/2UHTFxt

College grads sell stakes in themselves to Wall Street: Bloomberg reports, instead of taking out loans, students can agree to hand over part of their future earnings in return for investment.

It's the age of the Personal IPO.

POLITICS

WSJ: Barr says release of Mueller report can come within a week

‘Sustained and ongoing’ disinformation assault targets Dem presidential candidates: Politico reports, a coordinated barrage of social media attacks suggests the involvement of foreign state actors.

Trump has a message for the world: My trade wars aren't over yet: Bloomberg reports, Trump is sending a clear message to the economic policymakers gathering in Washington for the IMF and World Bank’s spring meetings: My trade wars aren’t finished yet and a weakening global economy will just have to deal with it.

Big Banks on the Hill: CEOs of some of the largest U.S. banks will testify before Congress on Wednesday, giving lawmakers their first opportunity to grill the lenders since the 2007-2009 financial crisis.

Brett Kavanaugh: backlash after US university hires justice to teach in UK: The Guardian reports, the US supreme court justice Brett Kavanaugh is heading to England this summer – specifically to Runnymede, the place immortalized by Magna Carta and called the “birthplace of modern democracy” – to teach a course on the US constitution for an American university. But the appointment is sparking uproar among some students and they are demanding the school rescind its invitation.

COMMERCE

Report: Living in a post-Fyre world: The future of influencer marketing http://bit.ly/2UNXYHA

Uber sets sights on raising $10bn in IPO next month: FT reports, the ride-hailing group to set out financial position in registration documents on Thursday.

Rakuten, Booking.com, and Expedia raided by Japan's antitrust watchdog over lodging price policy: Japan Times reports, Japan's antitrust watchdog on Wednesday raided the offices of Rakuten Inc. and two other online booking operators, alleging they hurt fair trade by requiring accommodation providers to offer their lowest prices on their platforms, according to a source close to the matter.

Bank of America to raise its minimum wage to $20 an hour by 2021.

‘Retail apocalypse’ now: Analysts say 75,000 more US stores could be doomed. WP reports, an estimated 75,000 stores that sell clothing, electronics and furniture will close by 2026, when online shopping is expected to make up 25 percent of retail sales, according to UBS. Roughly 16 percent of overall sales are made online. Analysts said the closures would affect a broad variety of retailers, affecting an estimated 21,000 apparel stores, 10,000 consumer electronics stores, and 8,000 home furnishing stores.

Ford CEO tamps down expectations for first autonomous vehicles: Bloomberg reports, too much hype has built up about how soon self-driving cars will hit the road, but they will ultimately change the world, Ford Motor Co.’s chief executive officer said. “We overestimated the arrival of autonomous vehicles,” Jim Hackett said Tuesday at a Detroit Economic Club event. While Ford’s first self-driving car is still coming in 2021, “its applications will be narrow, what we call geo-fenced, because the problem is so complex.”

CULTURE

How to actually, truly focus on what you’re doing: Tired: Shallow work. Wired: Deep work. https://nyti.ms/2UDgYZu

Why LBJ biographer Robert Caro has written thousands of pages by hand: Be it a Smith Corona typewriter or Chopin, thick pencils or a classic Buick, for the lionized biographer of LBJ, everything has a purpose (and a story). https://on.wsj.com/2UDA9m3

OTD: In 1912 RMS Titanic set sail from Southampton on her only voyage.

Emma Corrin, an up-and-coming actor with just over 2700 Instagram followers at time of writing, is set to play Lady Diana Spencer, the future Princess of Wales, in season four of The Crown.

As Vegas eyes millennials, concert residency industry booms: AFP reports, the residency -- a series of shows performed in a single location -- has long been a staple of the Las Vegas Strip, pioneered by pianist Liberace in the forties, Frank Sinatra a decade later and Elvis in the seventies. But after taking the backseat to slot machines, strip clubs and production shows like Cirque du Soleil, the concept is back with a facelift -- and it's flourishing.

SPORT

WSJ: Magic Johnson resigns as president of LA Lakers

Bill Plaschke: Magic Johnson was never all in, so now he's all gone

"He made the announcement before telling owner Jeanie Buss. He held the news conference without the advance knowledge of team officials. This was his dream job, a role he could have reasonably filled for the rest of his life, yet he ended it all in nine words." 

Champions League - Quarterfinals - Draw:

Ajax v Juventus @ 3:00 pm ET
Barcelona v Manchester United @ 3:00 pm ET

Binyamin Netanyahu, CBD, Theresa May, Eric Swalwell, Stephen A. Smith

Binyamin Netanyahu, CBD, Theresa May, Eric Swalwell, Stephen A. Smith

Caracal Global Daily
April 9, 2019
Curation and commentary from Marc A. Ross

Reporting from Alexandria, Virginia 

Caracal Global Daily  = News + Analysis at the Intersection of Globalization + Disruption + Politics

TOP FIVE

✔️ US moves to impose tariffs on $11 billion of EU goods

✔️ China’s next naval target is the internet’s underwater cables

✔️ Stephen Miller's influence rising amid changes at DHS

✔️ Grab vs Go-Jek

✔️ Madonna to perform at Eurovision in Tel Aviv
 

GLOBALIZATION

Israel election: Binyamin Netanyahu on course for fifth term.

US moves to impose tariffs on $11 billion of EU goods: WSJ reports, the Trump administration moved toward imposing tariffs on about $11 billion in imports from the European Union, saying the move was justified by the bloc’s subsidies for European aircraft manufacturer Airbus.

FT: US weighs $11bn in tariffs against EU over Airbus aid

Move would represent significant escalation of transatlantic trade tensions.

US plans $11bn tariffs on European aircraft, wine and cheese: The Times reports, the United States is planning $11 billion of tariffs on goods from the European Union — including aircraft, aircraft parts, motorcycles, cheese and wine — to counter the harm that it claims has been caused to Boeing by its subsidies for Airbus. The US trade representative, Robert Lighthizer, said that the case had been in litigation at the World Trade Organisation for 14 years and that “the time has come for action.”

Reuters: Potential US auto tariffs would hurt Germany, Japan, Korea: Moody's

“Auto trade restrictions would cause a broader hit to business and consumer confidence globally in an already slowing global economy,” Moody’s Associate Managing Director Elena Duggar wrote.

The EU and China rescue a plan to present united front to Trump: Bloomberg reports, the European Union and China managed to agree on a joint statement for Tuesday’s summit in Brussels, papering over divisions on trade in a bid to present a common front to U.S. President Donald Trump, EU officials said. Diplomats reached an eleventh-hour accord on a draft communique after China made concessions on wording about industrial subsidies that removed a European veto threat, said one of the officials, who asked not to be identified by name. EU Council President Donald Tusk, European Commission President Jean-Claude Juncker and Chinese Premier Li Keqiang are due to attend the gathering in the Belgian capital.

China to 'further open' its doors to Europe, PM Li says ahead of summit: DW reports, China's Li Keqiang has attempted to quell European skepticism towards China's investment approach ahead of this week's EU-China summit. Some fear projects like the Belt and Road initiative aim to bind countries to China.

Lionel Laurent: Trump's trade spat with China squeezes Europe: Brussels needs to strike an awkward balance to defend its own interests as protectionist bullets fly.

Chinese woman arrested at Mar-a-Lago had cache of electronics: WSJ reports, a Chinese woman arrested for entering President Trump’s Mar-a-Lago without authorization had $8,000 in U.S. and Chinese currency and a cache of electronic devices in her room, a prosecutor said.

China uses its clout to deflect criticism of Muslim camps: NYT reports, in the Muslim world, and in Washington and Europe, Beijing’s economic power deters action over criticism that it has detained members of ethnic minorities.

Pacific islands: A new arena of rivalry between China and the US: Beijing is making its presence felt in a region that the US navy considers strategically vital. https://on.ft.com/2KvKJr4

"The region’s vast maritime expanses have long been controlled by the US Navy, whose base in Guam is central to its ability to project power in the western Pacific. China, however, is now making its presence felt. Beijing is attracting countries with promises to boost their development, but which might also enrich local politicians and raise fears of new colonial-style domination. In western capitals, China’s Pacific push has raised concerns that Beijing has military designs on the region."

GPS data reveal secretive Chinese research vessels crossing Pacific (video): The FT's Kathrin Hille examines the Chinese oceanographic research vessels appearing between the Philippines and Hawaii based on data from Marinetraffic.com and explains how Beijing is expanding its maritime influence in the Pacific. https://on.ft.com/2KnK0Iw

James Stavridis: China’s next naval target is the internet’s underwater cables: Worried about Huawei’s 5G? Wait till it gets into the game for 95 percent of all data and voice traffic.

China wants to ban bitcoin mining: Reuters, China’s state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector.

Joseph Nye: Does China have feet of clay? No one knows what China’s future holds, and there is a long history of faulty predictions of systemic collapse or stagnation. Neither outcome is likely, though the country is facing several challenges that are far more serious than many observers seem to think. http://bit.ly/2UD51D9

Asia's worst aging fears begin to come true: Nikkei reports, policymakers in South Korea, China, and Japan stare into demographic abyss.

EU demands ‘real plan’ from May for Brexit delay: FT reports, Europe ministers indicate willingness to postpone British exit at Luxembourg meeting.

May offered one last chance to save Brexit deal: The Times, Theresa May will have one last opportunity to pass her deal according to Europe’s chief negotiator as she heads to Paris and Berlin for talks. Michel Barnier said this morning that the EU is willing to give the UK a final opportunity to pass her deal so long as Mrs May indicates a way forward at tomorrow evening’s emergency summit. 

UK PM Theresa May travels to Europe with Brexit extension plea: DW reports, Theresa May is meeting with Chancellor Angela Merkel and then with French President Emmanuel Macron to try and convince them to give her more time for Brexit. The UK Parliament has overridden her political power at home.

Robert Shrimsley: Conservatives will pay a heavy price for weaponizing Brexit: Letting hardliners frame the debate has exposed the UK to division and humiliation.

Rachel Sylvester: Broken Britain will turn to radical parties: While Farage is trying to exploit this political impasse, the ground is even more fertile for Remainers of Change UK.

Sarah O'Connor: Britain’s fragile seaside towns lay bare a dysfunctional economy: We export problems to the places least able to cope, then expect them to be resilient.

DISRUPTION

Walmart is rolling out the robots: WSJ reports, retailer to expand use of machines to scan shelves and scrub floors as it seeks to keep labor costs down.

Droids > Drones

In New York, confusion reigns in the emerging CBD edibles business: Reuters reports, the New York City crackdown highlights the inconsistencies that have emerged in federal, state and local rules governing CBD, bewildering the small but growing number of businesses selling edibles in New York and other states.

POLITICS

The Hill: Stephen Miller's influence rising amid changes at DHS

Trump aide Stephen Miller ‘going to clean house’ as immigration policy hardens: LAT reports, the president has vowed to take an even 'tougher' approach on immigration and border security policy with help of Miller.

Trump’s DHS purge floors Republicans: Politico reports, even GOP allies of the president are distressed by the chaos unleashed on federal immigration policy.

Ross Douthat: Trump’s immigration crisis: Behind the flailing lies a potential disaster for immigration hawks.

"For every conservative faction, supporting Trump was a gamble — do you reach for short-term victory, even though his incompetence and unfitness might cost you in the long run? The danger for immigration hawks is that the long run has already arrived."

Politico: ‘I would have preferred not to have been ejected like an Austin Powers villain’ https://politi.co/2Koyk8r

From Nielsen to Mattis to Mooch, an optics-obsessed president narrates exits.

Kirstjen Nielsen got a 21-word tweet. Linda McMahon got a 13-minute lovefest.

Trump often blindsides his own aides, announcing major departures on his own timeline.

Biden leans into Obama identification: The Hill reports, former Vice President Joe Biden is labeling himself an “Obama-Biden Democrat” as he seeks to straddle a line to appeal to centrists and progressives in the Democratic Party. Biden’s strategy is intended to strengthen his appeal to white working-class men — who largely fled the Democratic Party in support of President Trump in 2016 — while keeping him relevant with an Obama coalition of women, minority and younger voters.

Biden support stays solid in early states: Politico reports, party leaders don’t expect lasting damage from the controversy over physical touching. But they want the former veep to stop joking about it.

Eric Swalwell (D-CA) announces a 2020 Democratic presidential campaign. The Representative is a long-shot a fourth tier candidate.

Amy Klobuchar (D-MN) raised about $5 million since starting the Democratic presidential campaign earlier this year.

Midwest mayor gives Democrats hopes for White House: FT reports, Pete Buttigieg’s centrist policies, and personal history have boosted presidential ambitions.

Dems 2020 Candidates: Declared candidates + Exploratory committees:

Tier 1:

Kamala Harris (D)
Bernie Sanders (D)
Beto O'Rourke (D)

Tier 2:

John Hickenlooper (D)
Elizabeth Warren (D)
Amy Klobuchar (D)

Tier 3: 

Julian Castro (D)
Pete Buttigieg (D)
Cory Booker (D)

Tier 4:

Jay Inslee (D)
Kirsten Gillibrand (D)
John Delaney (D)
Tulsi Gabbard (D)
Andrew Yang (D)
Marianne Williamson (D)
Tim Ryan (D)
Eric Swalwell (D)
Wayne Messam (D) 

COMMERCE

Audi’s new campaign tries to debunk electric vehicle misperceptions: AdAge reports, Audi and other big automakers are trying to take a bite out of Tesla's EV dominance.

Amazon's next move: Become a shipping and logistics provider for retailers, competing directly with third-party shipping companies.

In Amazon’s home city, some see an economic godsend, others a self-serving behemoth: WP reports, the online giant’s mixed reputation in Seattle offers a glimpse of what the Washington, D.C., region can expect when its new headquarters open there.

Grab vs Go-Jek: Duel of digital 'decacorns' escalates in Indonesia: Nikkei reports, $10bn ride-hailers' battle for food orders and e-payments threatens to leave both bruised.

CULTURE

Working by Robert Caro — how to get to the root of political power: A collection of work from the Lyndon Johnson biographer about how he works and what drives him. https://on.ft.com/2KlpjgA

Madonna to perform at Eurovision in Tel Aviv for million-dollar fee: DW reports, Madonna will put on a guest performance at the final of the upcoming Eurovision Song Contest in Israel. The US pop superstar is reportedly getting paid $1.5 million for the gig.

SPORT

Basic beginnings to global exposure: Formula One reaches 1000 races: AFP reports, From the first race at a converted World War II airbase in rural England to this weekend's 1,000th grand prix at the $240 million international circuit in Shanghai, Formula One has come a long way since it all began in 1950. Silverstone held the first race 69 years ago and the British Grand Prix has remained, with the Italian GP, the only ever-present races on the calendar. In 70 seasons, Formula One has visited 32 countries across five continents and a street circuit in Vietnam will be the newest addition next year. Formula One's organization was bought for $8 billion in 2017 by US media giant Liberty Media and is now listed on Wall Street -- a long way from the early days when tire and oil companies supplied their products for free in return for having their logos on drivers' overalls.

How Stephen A. Smith went from visionary pundit to ESPN's $10m hot-take machine: Guardian reports, the broadcaster’s shouter-in-chief is about to become the richest man in sports media after nearly washing out chasing a vision that was ahead of its time.

Champions League - Quarterfinals:

Tottenham Hotspur v Manchester City @ 3:00 pm ET
Liverpool v Porto @ 3:00 pm ET

Ajax v Juventus - Wednesday @ 3:00 pm ET
Barcelona v Manchester United - Wednesday @ 3:00 pm ET

The first legs will be played on 9 and 10 April, and the second legs will be played on 16 and 17 April 2019.