Ready for some more great articles? Here's our picks for January 2015:
Crude exports – two US senators on Tues called on the Commerce Dept. to reconsider a recent move that would make it easier to export crude; the senators worry such a move could lead to higher domestic energy prices – Reuters http://goo.gl/ZWu8UZ
Obama’s State of the Union was anticlimactic as the White House had preannounced the speech’s major contents over the preceding days. The main focus was on strengthening the middle class which Obama plans to do via a variety of new tax and education initiatives (to be paid for by higher capital gains taxes and elimination of the “trust fund loophole”). The President expressed confidence in his anti-ISIS strategy and called on Congress to give him fresh authorization to combat extremists in the Middle East. The full transcript can be seen here: http://goo.gl/4jyk5C. Note that Republicans rejected many of Obama’s economic messages http://goo.gl/iZJCsi.
US companies slashing jobs. A slew of marque American companies, inc. EBAY, AXP, BHI, SLB, and others, have announced thousands of job cuts in the last few days. FT http://goo.gl/jJ5yBl
Net neutrality – Republicans introduced legislation that would prevent broadband providers from blocking, slowing, or speeding access to specific website but would avoid imposing Title II regulation on the industry – WSJ http://goo.gl/FVYkkZ
Saudi Arabia – Saudi Arabia’s new king will prob. leave oil policy unchanged; according to the WSJ, the new leadership is likely to keep oil policy unchanged (http://goo.gl/zsHhqJ); CNBC discusses “why Saudi succession isn’t a big deal for oil” (http://goo.gl/c9Q0nJ); the new King will keep the main ministers in place (inc. oil and finance).
China – the PBOC injected ~$8B into the banking system using short-term instruments it hasn’t used in a year. The PBOC offered $8B in 7-day repos on Thurs, sparking speculation it may loosen policy further in the coming weeks. The move comes after the PBOC on Wed said it would roll over 3-month loans of $43.5B and offered 50B yuan of medium-term loans to certain commercial banks. WSJ http://goo.gl/up9FtI
Ukraine violence worsens – the leader of separatist forces said he wouldn’t participate any longer in ceasefire talks and planned on pushing forward against Ukraine gov’t troops – WSJ http://goo.gl/fuvIoA
And On A Lighter Note…
Death by chocolate: a problem for bears in New Hampshire - http://goo.gl/O6DuVi