Links 24th July

Global Macro:

Dow tumbles 101.11 points. Wall Street Journal
But oil services firms are booming. The Economist. Next week Macro Investor will be presenting some different ideas about mining services.
Capital expenditure versus the capitalist executive. Buttonwood. Some intriguing findings about corporate governance and incentives.
Violence flares again in Iraq. Voice of America
Should we buy the dip on oil? Blast hits Iraq to Turkey pipeline. Digital Journal. Kurdish separatists blamed. (luckily it’s back online … for now)
Meanwhile Turkey sends missile batteries to the Syrian border. AFP
Arab League offers Assad an exit strategy. Financial Times
And Damascus vows to not use chemical weapons. BBC

United States:

Luckily for Obama, the economy is a lot stronger in the swing states. Washington Post
Yet overall, US poverty is likely at highest point in 50 years. Chicago Tribune
Even profits at McDonald’s are down. Wall Street Journal
QE3 however is looking like a crowded trade. Sober Look
The fiscal cliff and rationality. Econbrowser

Europe:

The pain in Spain continues. Financial Times
And spreads to Germany, Netherlands and Luxembourg: all placed on negative credit outlook by Moody’s. FT Alphaville
But at least one hedge fund manager is getting bullish on the Eurozone. New York Times
Though first, Europe will need to sort out the single bank supervisor impasse. Wall Street Journal
And sort out the rules that govern ECB policy. Forbes
Elsewhere, Leveson inquiry extends to The Mirror and The Star. Guardian. Murdoch’s not the only villain in this morality play.

Asia:

Is the BrahMos ASCM a game changer in Asia’s arms race? The Diplomat
Indonesia Asia’s new FDI magnet. Asia Times Online
Pressure growing to end China’s one child policy. New York Times
CNOOC to acquire Canada’s Nexen for $US15bn. DealBook
Beijing floods kill 37, spark anger, questions. Wall Street Journal. Beijing’s drainage infrastructure is third world but Chinese now expect more.
Are destroyed wetlands and deforestation to blame? China Digital Times
It’s not too much Chinese infrastructure it’s too much uneconomic infrastructure. FT Alphaville
Solution: get everyone focussed on blaming Japan. Chinese nationalists eye Okinawa. Financial Times
More China links from Sinocism later today

Local:

Sex, Lies and Julian Assange. Four Corners. Worth a watch.
AMP Capital eyes cost cutting. The Australian. Tough times for planner-linked funds management.
If Melbourne builds a train to Doncaster… higher property prices will generate the revenue to pay for it. The Age. $840m
Is the mining boom really behind us? Sydney Morning Herald. I struggled to find the argument in this one.
BHP reviewing which projects to axe. Australian Financial Review

Other/Interesting: