Financial Markets and Economy
Major bourses are mixed after around an hour of trading, but moves have been small so far, following on from a decent first session of Q2 in Asia, which saw Japan's Nikkei close 0.46% higher.
Japan Stocks Rise on First Day of Fiscal Year as Defensives Gain (Bloomberg)
Japanese stock benchmarks advanced on their first trading day of the new fiscal year as industries focused on Japan’s domestic economy helped prop up the market.
UK MANUFACTURING MISSES: 'Manufacturers must be wary of over confidence' (Business Insider)
The UK's manufacturing PMI for March, a measure of growth in the sector, hit a level of 54.2.
Confidence is rising among big manufacturers in Japan, the latest data shows.
Japan’s quarterly Tankan survey released by the Japanese central bank showed that business sentiment improved in the sector for the second straight quarter.
European Stocks Begin New Quarter With Gains as Miners Advance (Bloomberg)
Gains in commodity producers pushed European stocks higher after the region’s equities completed a third straight quarterly advance.
Britain's government is going to pay private consultancies to help it deal with Brexit (Business Insider)
The government is offering private sector consultancy firms £1.5 million ($1.8 million) for six months' work as it seeks help dealing with the process of leaving the European Union, now that Britain has formally started the Brexit process.
Pound Falls First Time in Three Days as U.K. Manufacturing Slows (Bloomberg)
The pound dropped for the first time in three days against the dollar as U.K. manufacturing growth unexpectedly cooled for a third month in March.
U.K. Manufacturing Slows as Inflationary Pressures Continue (Bloomberg)
U.K. manufacturing unexpectedly cooled for a third month in March and may weaken further, according to IHS Markit, which repeated its warning about inflationary pressures.
Euro-Area Unemployment Declines to Lowest Level in Eight Years (Bloomberg)
Joblessness decreased to 9.5 percent, the European Union’s statistics office in Luxembourg said on Monday. That’s the lowest since May 2009 and matches the median estimate of economists in a Bloomberg survey.
No End in Sight for Mideast Conflict, But Palestine Stocks Are Soaring (Bloomberg)
As equity investors fret over growing political risks from the U.K. to South Africa, a nascent investment opportunity may lurk in one of the world’s oldest conflict zones.
Blockbuster Data Run Casts Doubt on Divergence: Canada Eco Watch (Bloomberg)
The Canadian economy has “a lot more room to grow” than its American counterpart, the head of the country’s central bank Stephen Poloz said last week, pushing back against the idea he would soon follow his peers stateside in lifting interest rates.
Europe, U.S. Market Risks Are Back to Front, Saxo Bank Says (Bloomberg)
The market is overestimating political risk in Europe and underestimating the chances of a U.S. recession, according to Saxo Bank A/S.
Odd Lots: This Is How You Know When the Stock Market Is in a Bubble (Bloomberg)
One of the most fascinating market phenomenons is the bubble. When they occur, fortunes are made and lost, and the full spectrum of human emotions, from fear to greed, are on display. But what defines a bubble exactly, and how do you know when you're actually seeing one?
U.S. stocks set to kick off second quarter with tentative gains (Market Watch)
Wall Street stocks on Monday were aiming to start the second quarter with tepid gains. Investors were set to take cues from a handful of economic indicators and Federal Reserve speakers later in the trading day.
Dollar firms as manufacturing data seen supporting Fed rate hikes (Market Watch)
The dollar firmed moderately against leading rivals Monday ahead of U.S. manufacturing data that’s expected to show little change from recent readings, but likely won’t sway the Federal Reserve from plans to raise interest rates again this year. Accordingly, the dollar’s moves were limited so far.
This bond fund is designed to perform well regardless of the Fed’s actions (Market Watch)
If you invest in bond funds for income, rising interest rates can be a big risk because of the inverse relationship between rates and bond prices. The Zeo Strategic Income Fund’s focus on low volatility addresses that risk, while the fund managers’ credit analysis has led to attractive performance over the past five years.
Global Stocks, US Futures Rise On First Day Of Q2 As Trump-Xi Meeting Looms (Zero Hedge)
After the best quarter for US stocks since 2015, global equities have started off Q2 on the right foot, despite caution about the upcoming meeting between President Trump and China's Xi Jinping later this week, and Fed Minutes which are expected to be more hawkish than the FOMC statement.
Trend line Broken, Momentum Fading, Stocks Are in Serious Trouble (Zero Hedge)
The market has broken the bull rally trendline that supported it since election night.
Companies
Dollar Stores' Struggles Sidestepped by One That Accepts Loonies (Bloomberg)
Dollar stores have been going through a tough slog in the U.S., but business is booming north of the border for Dollarama Inc.
McDonald's May Be Next on EU Tax Menu as Probe Said to Wrap Up (Bloomberg)
A European Union probe into McDonald’s Corp. is entering its final stages after officials gathered information on whether the Big Mac maker unfairly benefited from a hefty tax break in Luxembourg, according to people familiar with the case.
Starbucks' new CEO says social engagement is part of the company's 'strategy' — even when it gets controversial (Business Insider)
Howard Schultz may no longer be in charge, but Starbucks won't be stepping back from its progressive stances anytime soon.
German court rebuffs VW complaint over prosecutors' searches (Reuters)
A German court has rebuffed Volkswagen's (VOWG_p.DE) attempt to prevent prosecutors from using information seized during searches of the law firm which the carmaker had hired to investigate its emissions scandal.
Technology
An internet security expert tells us the scariest thing about webcam hacking (Business Insider)
Mikko Hypponen, a cyber security expert told Business Insider: "Once you gain access to somebody’s system it’s trivial to turn on the webcam and record whatever they’re doing, or to just turn on the microphone and record whatever is being spoken around the infected laptop.
Apple's latest ad for the Apple Watch, which comes in time for spring, wants to show how technology can be used to lead an active lifestyle.
Apple wants to sell customers a 'premium' TV bundle (Business Insider)
Apple is interested in selling consumers a premium TV bundle, according to a new report from Recode.
Uber Self-Driving Program Hits Another Pothole (The Wall Street Journal)
A pilot program that allowed Uber Technologies Inc. to launch its first self-driving cars in this former steel town has hit a road bump.
Robot Cars and Fake Ethical Dilemmas (Forbes)
Something feels dishonest about the moral panic over self-driving cars. It usually involves bizarre crash scenarios that would (probably) never happen in real life.
Imagination Tech shares plunge as Apple abandons the firm (Reuters)
Shares in Imagination Tech (IMG.L) crashed more than 70 percent on Monday after the British company said its biggest customer, Apple (AAPL.O), would stop using its graphics technology in iPhones, iPads and Apple Watches.
More people use the internet on Android than Windows (Engadget)
It's a milestone day for the mobile world: Android's internet use has overtaken that on Windows PCs for the first time. According to StatCounter, Google's phone platform represented 37.93 percent of tracked internet activity in March, just barely edging out Windows' 37.91 percent.
Scientists control soft robots with magnetic fields (Engadget)
As slick as soft robots are, they tend to have very simple movements. It'd be a challenge to create a truly complex machine using existing technology. Researchers may have a solution to more sophisticated movement, though.
Politics
Democratic Sen. Jon Tester of Montana on Sunday said he would vote against President Donald Trump's nominee for the Supreme Court.
Trump Budget Leaves New York-Area Transit Projects Up in the Air (NY Times)
When the new president is a lifelong New Yorker promising a trillion-dollar infrastructure plan, many believed New York would be first in line to benefit from the spending spree.
Trump's son-in-law, Kushner, flies into Iraq with top U.S. general (Reuters)
U.S. President Donald Trump's son-in-law, Jared Kushner, flew into Iraq on Monday with the top U.S. military officer to get a first-hand assessment of the battle against Islamic State from U.S. commanders on the ground and to meet Iraqi officials.
Trump revives Clinton criticisms in early morning tweets (Politico)
President Donald Trump questioned Monday whether the brother of Hillary Clinton campaign chairman John Podesta accepted money to have sanctions against Russia lifted and if the former secretary of state and Democratic presidential candidate knew about it.
Donald Trump Trusts ‘Fox & Friends’ Over His Own Intelligence Community (The Huffington Post)
President Donald Trump on Monday touted a “Fox & Friends” report that the previous administration spied on him during the election, an idea that has been widely debunked.
Life on the Home Planet
Deadly Explosions Reported in St. Petersburg Subway (NY Times)
Explosions at two subway stations in St. Petersburg killed at least 10 people on Monday afternoon, the state-run TASS news agency reported. The explosions occurred while President Vladimir V. Putin was in the city, Russia’s second largest, for a meeting and a speech.
Uganda at breaking point as Bidi Bidi becomes world's largest refugee camp (The Guardian)
The central reception area of the Imvepi refugee settlement, in northern Uganda, is packed to the brim. Thousands of people are crammed into a patch of land meant to hold just a fraction of the current load.
Blasts in St. Petersburg metro stations kill 10: authorities (Reuters)
At least 10 people were killed and 50 injured when an explosion tore through a train carriage in the St. Petersburg underground system on Monday, Russian authorities said.
The World's Biggest Solar Energy Storage Farm Is Set to Launch in Australia (Science Alert)
Construction will soon be underway on a gigantic solar farm in South Australia that's set to be the biggest of its kind in the world – thanks to 3.4 million solar panels and 1.1 million individual batteries.
Debate rages over controversial copyright standard for the web (New Scientist)
It’s a fight for the future of the web. The World Wide Web Consortium (W3C), an organisation that sets standards for how the web works, has formally proposed a controversial new anti-piracy mechanism.
