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Mon, 20th February 2017

Anirudh Sethi Report

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Archives of “mass media” Tag

Overnight US Market :Dow closed +118 points ,Dow, S&P 500, Nasdaq blow past old records

Stocks were in rally mode Thursday as all three of the major indexes jumped to new all-time closing highs.

The Dow Jones industrial average jumped 118 points, or 0.6%, to 20,172.40.

Up by the same percentage were the S&P 500 and the Nasdaq composite — to their new highs of 2307.87 and 5715.18, respectively.

Investors weighed earnings from a batch of companies, including Twitter, Kellogg and Viacom. Energy stocks led the gainers as the price of crude oil headed higher. Utilities were down the most.

Benchmark U.S. crude gained 66 cents, or 1.3%, to $53.00 a barrel in electronic trading on the New York Mercantile Exchange, while Brent crude, the benchmark for international oil prices, added 40 cents to $55.52 a barrel.

In earnings news:

Amazon Enters Trillion Dollar Ocean Freight Business: How Many Jobs Will Vanish?

Amazon has begun shipping products from Chinese merchant partners to its U.S. warehouses via its own ocean freighters.

Amazon used to outsource exclusively.

Question: How long will it be before Amazon has minimal to no staff on self-guided transports?

amazon-ocean

Amazon doesn’t want to have to rely on (and pay) third-party delivery companies. It’s already taken control of lorries and planes and now it’s taking control of ships, The Wall Street Journal reports.

Specifically, the Seattle-headquartered ecommerce giant has started handling the shipment of goods from Chinese retailers that sell on its platform to its vast US warehouses.

Previously it left this to global freight-transportation companies.

Since October, Amazon has helped to ship some 150 containers of goods from China to the US, according to The Wall Street Journal, which cites shipping documents collected at ports of entry.

“Amazon has integrated all those services into one basket,” said Steve Ferreira, chief executive of Ocean Audit, in the report.

He noted that, for Amazon, creating this type of shipping service will give it “a lot of strategic value.”

Shipping is a trillion dollar industry, according to MIT Technology Review.

Trump to Meet With Big Tech CEOs this Week

Trump has issued invitations to several top executives of major US tech companies, according to media reports. As the topic of the meeting, which is scheduled to happen in Trump Tower in Manhattan next week, remains undisclosed, the media are talking about who is invited.

According to one report, sources close to the situation have already confirmed Alphabet CEO Larry Page, Apple CEO Tim Cook and Facebook COO Sheryl Sandberg as attendees. They are likely to be joined by Microsoft CEO Satya Nadella, Cisco CEO Chuck Robbins, IBM CEO Ginni Rometty, Intel CEO Brian Krzanich, and Oracle CEO Safra Catz. This list is likely not full, because many invitations went out late this week, according to Recode. Interestingly, even some of the Trump’s critics, like Amazon CEO and founder Jeff Bezos, were invited and are likely to attend. Amazon owns the Washington Post, a media outlet that was quite aggressive towards Trump during the campaign. Bezos’s presence at the meeting could make things interesting.

Those left off the invite list include Netflix CEO Reed Hastings, Salesforce CEO Marc Benioff, Slack CEO Stewart Butterfield and Dropbox CEO Drew Houston. Uber CEO Travis Kalanick and Airbnb CEO Brian Chesky were invited but are now out of the country, which might be an excuse not to attend, according to media.

Unlike Bezos, Hewlett-Packard CEO Meg Whitman, who compared Trump to Hitler and Mussolini and called him a “dishonest demagogue,” will not be present at the meeting. Interestingly, CEO and inventor of Twitter Jack Dorsey reportedly was not invited, though Twitter seems to be Trump’s favourite method of mass communication. His direct comments via Twitter, previously seen as dangerous, now appear to have been a credit to his campaign, especially given the almost complete media support for for Democratic nominee Hillary Clinton by the mainstream media. While the exact topic of the meeting is undisclosed, the media speculate that Trump is going to try to convince tech companies to return their manufacturing operations to the United States, and that the tech giants will ask for tax breaks. It could be that the meeting will be the first step in what is almost certain to be a long, difficult battle to bring the hands-on work of some of America’s most successful and innovative industries back home.

China Newspapers Blast “Diplomatic Rookie” Trump For “Inability To Keep His Mouth Shut”

It seems that Trump’s phone call with Taiwan’s president Tsai Ing-wen as well a recent pair of tweets from the president-elect blasting China for devaluing their currency, taxing U.S. imports and military provocations in the South China Sea have served their purpose of ruffling some feathers in Beijing.

While the “official reaction” out of Beijing to Trump’s “provocations and falsehoods” has been muted, newspapers across China, often viewed as a mouthpiece of the Communist Party, have spent the day lashing out at the “diplomatic rookie.”.  Per Yahoo News, the People’s Daily accused Trump of “provoking friction and messing up China-US relations,” a move they say will not help “make America great again.”

 Donald Trump is a “diplomatic rookie” who must learn not to cross Beijing on issues like trade and Taiwan, Chinese state media said Tuesday, warning America could pay dearly for his naivety.

Trump’s protocol-shattering call with Taiwan’s president and a subsequent Twitter tirade against Beijing’s policies could risk upending the delicate balance between the world’s two largest economies, major media outlets said.

“Provoking friction and messing up China-US relations won’t help ‘make America great again'”, said a front-page opinion piece in the overseas edition of Communist Party mouthpiece People’s Daily.

Trump

Equity Risk Tumbles As Trump Closes Gap On Clinton

Despite the constant puke of propaganda that a Trump presidency will bring hell on earth and crash stock markets (remember Brexit?), it appears market participants are much more concerned about a Clinton win

As Clinton’s lead soared following ‘pussy-gate’, so investors piled into protection, bidding VIX up from 13 to 18…

During the last week, Trump has regained some momentum and VIX (equity risk) has tumbled.

BREAKING : Oil Crashes After Saudi-Iran “No Deal” Headlines

It appears the entire headline-hockey debacle was a farce: SAUDI ARABIA, IRAN MADE NO PROPOSALS DURING MEETING: ZANGANEH

Just minutes before, we got this…

  • *U.A.E. `OPTIMISTIC’ ABOUT REACHING OIL DEAL, MAZROUEI SAYS
  • *UAE: GREAT IF WE CAN GET FREEZE; MKT WILL STILL RECOVER IF NOT
  • *UAE: NOT DISCUSSING ANY ALLOWANCES FOR MEMBERS TO RAISE OUTPUT

Which Iranian Oil Minister Zanganeh rebuffed:

  • *SAUDI ARABIA, IRAN MADE NO PROPOSALS DURING MEETING: ZANGANEH

So no deal… no discussion… no negotiation.

In fact it appears the entire debacle was played out for the media (and short-squeeze).

Assange Says 80% of US National Security Agency Budget Privatized

A video link up with Julian Assange, journalist, founder and editor-in-chief of WikiLeaks, at the session, End of the Monopoly: The Open Information Age, held as part of the New Era of Journalism: Farewell to Mainstream international media forum at the Rossiya Segodnya International Multimedia Press CenterAssange addressing International Media Forum “New Era of Journalism: Farewell to Mainstream” said that about 80 percent of the US National Security Agency budget is privatized

He also said that Google is engaged with the US White House and Hillary Clinton’s elections campaign. Google has power to control information flow, the Wikileaks founder said.

For the NY Times, Islam Is Worse Than Cancer – Study

The researchers studied over 2.6 million print and digital headlines from articles published by the newspaper between 1990 and 2014. Headlines were sorted into positive, negative and neutral groups, based on word usage from a list of 7,200 words compiled in 2012, alongside a list of words typically associated with violence.
Analysis of NYT headlines revealed that 57 percent of those headlines that mentioned Islam were negative. Contemporaneous headlines regarding cancer, showed some 34 percent taking a negative tone.
“When we went into it we didn’t think it would be surprising if Islam was one of the most negatively portrayed topics in the NYT,” co-author Usaid Siddiqui explained. “What did really surprise us was that, compared with something as inherently negative as cancer, Islam still tends to be more negative.”
Researchers noted that the number of NYT headlines mentioning or referring to Islam increased about 1,000 percent in 2014, compared to the previous year. Of headlines referring to Islam or Muslims, the percentage taking a negative tone also rose significantly, to 68 percent in 2105, from 35 percent in 2009. Authors of the report link these dramatic changes to reporting on the actions of the Daesh extremist group.

Ministry of Finance to go green; print less copies of Survey, Budget

dc-Cover-ftt28eqq52ish0ooedr23bpbf7-20160222162234.Medi_.jpegFollowing up on the recommendations of a Parliamentary Standing Committee, Finance Ministry has decided to go green and print lesser number of copies of the Economic Survey and Budget. The copies of the two important documents would be available online once they are tabled in Parliament.

As the ministry has decided to print lesser number of documents, it has drastically curtailed the number of printed copies, which would be made available to the media houses. They will now be getting only three hard copies of the Economic Survey and Budget. Earlier, all accredited journalists were entitled to get a copy of these documents.

The Standing Committee of Parliament had earlier desired that the number of printed copies of Budget sets be reduced and made available online. Finance Minister Arun Jaitley will table Economic Survey in Parliament on February 26 and the Union Budget for 2016-17 on February 29.