Global Macro
- IMF cuts global growth outlook. WSJ. Europe is to blame.
- The US dollar is no haven from the eurozone. FT. I’ll give you a clue for what is… an island, in Asia, with a hawkish central bank…
- The Libor scandal continues. Guardian. Did Bob Diamond really give instructions to lower rates? Explosive.
United States:
- Welcome to the new world of American energy. Edward Luce
- Citi profit falls 12%. WSJ. Welcome to the new world of American banking.
- Bobby Jindal as Romney’s running mate? WSJ. Will Louisiana’s governor be the Republican Party’s Obama or another Palin?
- Barton Biggs, who predicted the dot-com crash, dies at 79. Washington Post
- Stephen Covey, management guru, also dies at 79. CNN
Europe:
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- European data beats expectations. Benzinga. Some silver lining to the storm clouds at least…
- But the eurosceptics still have the best lines. Wolfgang Munchau. Well, with friends like Merkel and the ECB, who needs enemies?
- ECB shows sign of bailout flexibility. FT. Well, like a steel bar is flexible compared to titanium.
- Meanwhile, Merkel proposes another Kyoto. Deutsche Welle. Why not? Merkel is a master of meaningless summitry.
Asia:
- China’s road to nowhere. FT. I seem to have seen that bridge somewhere before…
- A purge in North Korea? NY Times
- Or are things just normal? Asia Times Online. Kim Jung-eun elevates his late mother to the pantheon of revolutionary heroes.
- Sinocism’s excellent set of China Links will be out later today…
Local:
- Economists tip jobless rate to edge hire. BusinessDay
- Citic Pacific boss would rather inverts in Aussie food than Aussie iron ore. The Australian. Agriculture has been an a big call for Flashman at MacroBusiness/MacroInvestor.
- And Inghams may be sold to Thailand’s CP Group for $1.6bn. BusinessDay
- Ken Henry asks if mining tax is worth it. AFR
- Greg Rudd, brother of Kevin, to run for Senate as an independent. Herald Sun. The brothers have not spoken since May 2010.
- Expanded role for infrastructure body. AFR. And hopefully a step in the right direction.
- Shareholders okay $400m Seven West raising. The Australian
Other:
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- UAE opens pipeline bypassing Strait of Hormuz. BBC
- Just as well. US Navy ship fires at boat in Persian Gulf. CNN
- Yahoo! has a new CEO. Forbes. Ex-Google executive Marissa Mayer.
- Deep Purple’s Jon Lord dies at 71. Telegraph
- Time and interest are not so interesting. Interfluidity