Tuesday, June 5
Good Morning from Dublin where Mike Bloomberg meets with the Irish President to start a busy day on the Emerald Isle that includes visits to the Bank of Ireland, PolarLake, and the Royal College of Surgeons.
The hot topic is still Ireland’s vote of “Yes” to end the ban on abortion in an historic referendum. The debate now turns to the Irish parliament that will have to translate voter will into law. The government will propose that abortions be permissible in the first 12 weeks of pregnancy.
In economic news, consumer confidence has edged higher in May and it’s reinforced by the many construction cranes that dot the Dublin skyline. Ireland’s economy has posted the fastest growth in Europe since 2014 and unemployment has fallen rapidly. For this week at least even the weather is sunny.
Most Read on the Bloomberg Terminal (Last 8 Hours):
U.S. Said to Ask OPEC for 1 Million Barrel a Day Output Hike (Bloomberg)
In a rare request, the U.S. government has quietly asked Saudi Arabia and some other OPEC producers to increase oil production by about 1 million barrels a day. Oil prices dropped after Bloomberg first published the scoop.
News from Apple’s Worldwide Developers Conference:
Get Off Your Phone: Apple Announces Slew of New Anti-Addiction iPhone Controls (Bloomberg)
Apple v Facebook continues: Apple Ups Privacy Controls in Growing Spat with Facebook (Bloomberg)
In other news from the U.S. West Coast:
Github Billionaires Will Own More Microsoft Stock than CEO Satya Nadella (Bloomberg)
Starbucks’ Schultz Hints Political Career May Be Brewing (Bloomberg)
Today in Trade Wars:
Mexican Peso Falls to Lowest in a Year as Nafta Seen Delayed (Bloomberg)
Commodities Set for Biggest Loss Since March as Farm Goods Slump Amid Concern over U.S.-China Trade Spat (Bloomberg)
Spotlight on Brexit.
From Bloomberg Politics today: Like a long-running soap opera, the U.K.’s Brexit saga twists and turns so often that many people lose track of the plot. It’s time to tune back in, though, as the European Union divorce drama may be about to get ugly.
Almost two years since Britons voted narrowly to leave the EU, and with the clock ticking down to the March 29 departure, there’s very little agreement with Brussels about the terms of separation. British businesses are growing impatient, telling Prime Minister Theresa May to get on with making key decisions as they put in place contingency plans.
Vital issues remain unresolved amid deep divisions within the ruling Conservative party, not least over how to avoid a hard border on the island of Ireland without some form of customs union with the EU. May faces a showdown next week when lawmakers vote on 15 amendments to the government’s European Union (Withdrawal) Bill added by the unelected House of Lords.
The U.K. could wind up settling a divorce bill while still abiding by most EU rules. Or it could all yet end in chaos as the country crashes out of the bloc with no deal.
Headlines from around the world.
CNN: Entire families buried as Guatemalans battle to recover the dead after volcano eruption
Japan Times: Abe to urge Trump to reject Pyongyang’s position on Japanese abductions when he meets Kim
China Daily: Singapore designates special zone around Shangri-La Hotel for Trump-Kim summit
Bloomberg: In G-20, 41% of GDP Controlled by Populists vs 4% in 2007
The National: First Saudi women given driving licenses ahead of law change
Bloomberg: Singapore Built a Dedicated Town for Self-Driving Buses
Best of late night.
“Today is Donald Trump’s 500th day in office. Which means, congratulations, we’ve made it through the first trimester of his presidency — but for some reason, my nausea hasn’t gone away.”
— Stephen Colbert
On President Trump’s tweet yesterday that he could pardon himself:
“If he does this, this would definitely be the first time Trump has ever used the phrase ‘Pardon me.’”
— James Corden
And finally, Irish Humor:
Seamus opens the newspaper and is shocked to see his OWN obituary.
In a panic, he phones his friend and asks: “Did you see the paper?! They say I died!”
The friend replies: “Yes, I saw it! So, where ya calling from?”