Financial Markets and Economy
Fed Stock Rally Spreads From U.S. to Asia; China Leads Gains (Bloomberg)
The rally in stocks continued in Asia after the U.S. Federal Reserve cast a dovish tone on future rate hikes and said the world’s largest economy is “doing well.” Shares in Hong Kong and mainland China rallied as the People’s Bank of China also raised borrowing costs.
Oil Extends Advance as U.S. Stockpiles Drop First Time This Year (Bloomberg)
Oil extended gains above $49 a barrel as U.S. government data showed an unexpected fall in crude stockpiles, the first decline this year.
Wall Street Keeps Faith in Oil Recovery Even as Prices Drop (Bloomberg)
Prices have sunk, stockpiles ballooned and doubts about OPEC’s effectiveness grown, yet Wall Street hasn’t lost faith in oil’s recovery.
French, Italian Bonds Boosted by Dutch Defeat for Populists (Bloomberg)
French and Italian bonds jumped as Dutch Prime Minister Mark Rutte’s Liberals easily beat off an election challenge from the Freedom Party of Geert Wilders, boosting optimism that a rising tide of populism across the euro region can be stemmed.
According to research from UBS, coal prices and production, along with the stocks of companies involved in coal, began to slowly turn around. This came as natural gas prices rose for the first time in years, taking the pressure off coal.
People's Bank of China Raises Borrowing Costs in Step With Fed (Bloomberg)
Hours after the Fed’s quarter percentage-point move, the People’s Bank of China increased the rates it charges in open-market operations and on its medium-term lending facility.''
BOJ Stays the Course, Leaves Policy Unchanged After Fed Hike (Bloomberg)
The Bank of Japan kept its unprecedented monetary easing program unchanged on Thursday, just hours after the Federal Reserve raised its key interest rate, increasing the policy divergence between the two central banks.
The Bank of Japan has left monetary policy unchanged at the conclusion of its March policy meeting, a decision that was unilaterally expected by financial markets.
U.K. Green Energy Policies Not Raising Prices, Watchdog Says (Bloomberg)
The growth of energy efficient appliances in the U.K., from washing machines to LED lightbulbs, have more than offset homeowner costs of helping the nation switch to clean energy, the government’s climate change adviser said.
The euro is holding steady after populist Geert Wilders did worse than expected in Dutch elections (Business Insider UK)
The party of far-right leader Geert Wilders had been forecast by some to win the most seats of any party during the elections, but the PVV looks set to come second once all results are counted, gaining just 20 seats.
Oil prices rally, boosted by weaker dollar and drop in U.S. supply (Market Watch)
Oil prices traded higher on Thursday, boosted by data showing a drop in U.S. crude supply and a weaker dollar following the Federal Reserve’s less-hawkish-than-expected rate announcement.
Dollar slips after Fed backs less-hawkish rate approach (Market Watch)
The U.S. unit made up some ground against what had been a surging euro as investors were soothed by the Dutch election outcome, a result that, for now, calmed fears about more European Union breakups.
Turkey Raises Late Liquidity Rate to 11.75% After Fed's Move (Bloomberg)
Turkey’s central bank raised a key interest rate to rein in inflation, after the U.S. Federal Reserve raised borrowing costs for the second time in three months.
Why The Fed's Rate Increase Is Great For Banks And Small Businesses Alike (Forbes)
Yesterday, the Federal Reserve raised interest rates once again, introducing an increase of .25%, raising their target for short-term interest rates to a range of 0.75% and 1.00%.
Stocks shine; Indian billionaire on buying spree; Election results (CNN)
Investors are reacting to a rate hike by the U.S. Federal Reserves as well as election results from the Netherlands.
The Fed raised its key interest rate by 0.25 percentage point on Wednesday, which was widely expected.
U.S. stock futures climb as Fed-fueled rally set to continue (Market Watch)
Wall Street was set to extend its Federal Reserve-fueled rally on Thursday, with stock futures moving higher as investors continued to cheer the central bank’s less-hawkish-than-expected outlook on interest rates.
Silver Seen Climbing Faster Than Gold as Yellen Wakens Bulls (Bloomberg)
Investors may be better off with silver rather than gold. The Federal Reserve’s pledge to stick to its dovish outlook on U.S. monetary policy has fueled a rally in precious metals and silver usually beats its more valuable peer in a rising market.
Bank of Japan on Hold Falls Further Behind Its Global Peers (Bloomberg)
In the space of a day the Federal Reserve and China’s central bank raised borrowing costs, while the BOJ stood pat. With its core inflation target just a distant goal, the Bank of Japan still has a long haul ahead despite four years of the world’s most radical monetary policy.
European Stocks Climb to 15-Month High on Fed Hike, Dutch Vote (Bloomberg)
European stocks rose after the Federal Reserve raised interest rates without speeding up its timeline of further hikes, while election results in the Netherlands spurred investor relief over the defeat of its populist party.
Companies
Sainsbury to Cut Costs as Brexit-Weakened Pound Squeezes Grocers (Bloomberg)
J Sainsbury Plc said it’s cutting costs in an effort to avoid raising prices in response to the drop in the pound, after sales fell in its core grocery business.
Volkswagen Is Proving More Reliable in Court Than on the Road (Bloomberg)
Volkswagen AG is developing a reputation for reliability — at least in German courts.
Faced with about 2,000 lawsuits filed by German car owners affected by the diesel scandal, Volkswagen and its dealers have followed a pattern: settle cases before an appellate court hearing.
Lufthansa Says Fare Slide to Slow as CEO Seeks Further Cost Cuts (Bloomberg)
Deutsche Lufthansa AG said a slide in fares triggered by excess capacity is beginning to slow, easing the burden on earnings as fuel costs rise.
Eurostar Says U.S. Tourists Returning as Terror Concerns Ease (Bloomberg)
Eurostar International Ltd. said American tourists are returning to Europe as concerns about terrorist attacks ease, with the number of U.S. travelers on its Channel Tunnel express trains up 17 percent so far this year compared with the same period in 2016.
Technology
Why GM invites ethical hackers to try and hack its cars (Business Insider UK)
One morning, in the not-too-distant future, you're in a rush to go to work — but when you put the keys in the ignition, your shiny new car doesn't start.
Google is reportedly working on 3 successors to its Pixel phone (The Next Web)
Now that Google's Pixel Android phones have been out for some time, it's time for the rumor mills to begin spinning again. Droid Life reports that Google has codenamed not one or two, but three upcoming handsets to succeed last year's flagship models.
Samsung might finally unveil its long-awaited foldable smartphone this year (Business Insider UK)
One of the longest-running rumours in the mobile industry is Samsung's foldable smartphone.
Google Play Music has a few new options for playback quality (Engadget)
After seemingly forgetting about Google Play Music for an extended period of time, the search juggernaut has been showing its music streaming app newfound love lately.
Politics
Trump makes $1.5 billion request to Congress for border wall (The Hill)
The money is part of a $30 billion supplemental spending request that’s being sent to lawmakers on Thursday, according to White House budget director Mick Mulvaney.
Debt ceiling returns, creating new headache for GOP (The Hill)
The legal limit on how much the United States government can borrow returns on Thursday, potentially setting up an intense political battle in Congress.
Abe Government Denies Claim He Donated to Scandal-Hit School (Bloomberg)
Japan’s chief government spokesman denied a claim made by the head of a nationalist school operator that Prime Minister Shinzo Abe made a donation to the scandal-hit group.
The Queen has officially signed the Brexit Bill (Business Insider UK)
The Queen has officially signed the Brexit bill into law, paving the way for Prime Minister Theresa May to trigger Article 50 and initiate Britain's formal exit from the European Union.
Conservative party fined £70,000 by the Electoral Commission for false election expenses (Business Insider UK)
The Conservative party has been fined tens of thousands of pounds for making false declarations about their election expenses as the results of up to 20 seats at the last general election are now being called into question.
Trump's budget plan proposes cuts of up to 28% in key agencies (Reuters)
President Donald Trump will propose deep cuts for foreign aid and environmental protection and a steep increase in military spending in a budget plan to be released on Thursday, a congressional source said.
The American Health Care Act, the House GOP leadership's bill to repeal and replace Obamacare, may have hit a serious roadblock Wednesday evening.
GOP Health Plan: Tax Cuts For Rich; Hits Older People Hard (Associated Press)
The House Republican health care plan backed by President Donald Trump provides billions of dollars in tax cuts for wealthy families and insurance companies, but it hits older Americans hard with higher insurance premiums and smaller tax credits.
Secretary of State Tillerson wants more from China on North Korea threat (Market Watch)
Speaking in Tokyo on Thursday after talks with Japanese Foreign Minister Fumio Kishida, Tillerson said the U.S. would deepen cooperation with Japan and South Korea over North Korea. But he didn’t provide details on how the Trump administration would address North Korea’s nuclear and missile programs.
Dutch PM Mark Rutte sees off election threat of Geert Wilders (The Guardian)
The Dutch prime minister, Mark Rutte, has seen off a challenge from the anti-Islam populist Geert Wilders to claim a resounding victory in parliamentary elections widely seen as a test for resurgent nationalism before other key European polls.
Republicans Explore Changes to Health-Care Plan (The Wall Street Journal)
House Republicans and President Donald Trump’s administration scrambled Wednesday to negotiate changes to a GOP health-care plan, zeroing in on potential compromises that could win over additional GOP lawmakers.
Health and Biotech
Hidden HIV Reservoirs Exposed by Telltale Protein (Scientific American)
Attempts to cure HIV have been thwarted by a particular type of immune-system cell that can hide the virus. These long-lived infected T cells can evade detection by the body for years, and are hard to find, study and kill. Reliably identifying these covert reservoirs is top of the wish-list for HIV researchers, but they've had limited success.
Life on the Home Planet
Earth's Inner Radiation Belt Is Far Weaker Than We Thought, and It's Got NASA Very Excited (Science Alert)
More than five decades ago, scientists discovered that our planet is surrounded by two doughnut-shaped regions of charged particles, most of which originated as solar wind and got trapped in our magnetic field.
An "Off-the-Charts Dangerous" Clinical Trial in Florida Has Left 3 Women Blind (Science Alert)
Three women in Florida have spent US$5,000 each to take part in a clinical trial of an unproven stem cell treatment to address their macular degeneration – a progressive eye disease that leads to retina damage and vision loss.
Explosion at IMF Paris offices after envelope opened, one person hurt: police (Reuters)
A letter exploded when it was opened at the offices in central Paris of the International Monetary Fund (IMF) on Thursday and one person was slightly injured, police sources said.
