- Ukraine Says Russia May Have Shot Down Transport Plane. Ukraine’s Defense Ministry said Russian forces may have shot down one of its airplanes to bolster the Kremlin-backed insurgency and sabotage efforts to end a conflict that’s already claimed hundreds of lives. An An-26 transport plane was shot down in eastern Ukraine today by a “powerful weapon” not previously used by the separatists, probably from inside Russia, Defense Minister Valeriy Geletey told President Petro Poroshenko, according to the president’s website. The plane was hit at 6,500 meters, an altitude shoulder-fired missiles can’t reach, he said. The aircraft was probably struck either by an air-to-air missile from a jet based at Russia’s Millerovo base or a surface-to-air rocket from a mobile ground system, Andriy Lysenko, a ministry spokesman, told reporters in Kiev.
- Israel Extends Gaza Air Strikes, Downs Palestinian Drone. Israel struck back against fire from the Gaza Strip, Syria and Lebanon and downed a Palestinian drone that breached its airspace as its offensive against Gaza militants entered a seventh day. Israel targeted about 100 “terror sites” in Hamas-controlled Gaza today while more than 70 rockets were fired at Israel from the Palestinian enclave, the military said. “The heavier the blow we give from the air the easier it will be to carry out a ground operation, if that proves necessary,” Israeli Deputy Foreign Minister Zeev Elkin said today on Israel Radio.
- China Auto Association Cuts Sales Forecast. China’s state-backed auto association forecast that vehicle sales will slow more than it previously projected, as the economy showed little signs of improvement and more cities consider purchase restrictions. Total industry vehicle deliveries will probably rise 8.3 percent to 23.83 million units, compared with its January prediction for 10 percent growth, the China Association of Automobile Manufacturers said in a statement today. Last year, sales increased 14 percent, making China the first country in which more than 20 million vehicles were sold in any given year.
- China’s Local Governments Pile on Stimulus. Any borrowing to fund the investment risks exacerbating financial dangers from local-government debt that swelled to about $3 trillion as of June 2013. While Premier Li Keqiang is trying to expedite spending from existing budgets and avoid broad stimulus, provinces such as Hebei are facing bigger shortfalls on their own growth goals than Li is with the nationwide target of about 7.5 percent. “The motivation is there -- currently GDP is still the key performance indicator for local officials,” said Shen Jianguang, chief Asia economist at Mizuho Securities Asia Ltd. in Hong Kong, who previously worked at the European Central Bank. The challenge for local governments is to find financing at a time when bank loans and shadow banking are constrained, Shen said.
- European Stocks Rise After Weekly Drop; Shire Shares Gain. European stocks climbed, after the Stoxx Europe 600 Index posted its biggest weekly drop since March, as Shire Plc and Kuehne & Nagel International AG gained. Shire advanced after saying it is willing to recommend an offer from AbbVie Inc. Kuehne & Nagel rose the most in three months after reporting earnings that beat analyst forecasts. Sports Direct International Plc increased 3.6 percent after saying it will expand into Australia and New Zealand. Banco Espirito Santo SA dropped 7.5 percent after appointing a chief executive officer. The Stoxx 600 added 0.9 percent to 339.79 at the close of trading.
- VIX Contracts Signal Bigger U.S. Stock Swings Ahead. Investors haven’t seen this much volatility in U.S. stocks since April, and options traders are betting there’s more to come. The Chicago Board Options Exchange Volatility Index (VIX) jumped 17 percent to 12.08 last week and a similar measure for European equities surged the most in almost six months. The ratio of contracts wagering that the volatility measure known as the VIX will rise versus those betting on declines is almost 4-to-1, the highest level since before the financial crisis in 2007, according to data compiled by Bloomberg.
- Russian's 'Imperial Dream' Faces Last Stand in Donetsk. Muscovite Heading Separatist Movement in Ukraine Seeks Return of Empire. The military noose was tightening around the rebel city, and Alexander Borodai, now the leader of pro-Russia separatists in Donetsk, was urging decisive action. That was more than a decade ago, in a different war and a different city—Grozny, the capital of Chechnya, which was fighting for independence from Russia. Mr. Borodai, accompanying Russian troops as a war correspondent, wanted to see Grozny hit hard, all...
- AbbVie Nears $54 Billion Shire Deal. Deal Would Be Latest 'Inversion' Play.
- Asian Nations' Fears of War Elevated as China Flexes Muscle, Study Finds. Majority of Filipinos, Japanese and Vietnamese Say They Fear Armed Conflict With China.
The New Yorker:
- The Hand on the Lever. How Janet Yellen is redefining the Federal Reserve.
- Independent Fiscal Authority Says Spain May Miss Deficit. AIReF, Spain's independent authority for fiscal responsibility, sees very high risk that Spain will not meet target of reducing debt to 60% of GDP in 2020. AIReF says in report that it sees as not feasible the official road map established by financial stability and sustainability law to gradually reduce Spain's debt from 96.8% of GDP now to a maximum of 60% in 2020. Report says debt will be higher than pledged in 2016 and will be at 97% of GDP in 2017.
- NATO denounces new Russian troop build-up on Ukraine border. NATO on Monday said Russia had increased its troops near the Ukraine border to as many as 12,000 after reducing them to less than 1,000 in June, hurting efforts to ease the crisis. "This is not a step in the right direction. It is a step away from de-escalating the situation," a NATO official said. "Our current assessment is that between 10,000 and 12,000 Russian troops are in the area."
No comments:
Post a Comment