Tuesday, October 10

ByKevin Sheekey

Breaking:  Spanish police are ready to arrest the Catalan President today if he declares independence in remarks at the regional parliament. Spain Readies Forces Able to Seize Catalan Leader Today (Bloomberg)

People’s Bank of China Governor is making a fresh call to open up the nation’s financial sector.  China has passed the point of no return.  After 40 years of opening-up policy, foreign participation in the financial industries has not been up to speed, requiring a bold reform to take it forward.  China Central Bank Boss Calls for Reform Amid Congress Countdown (Bloomberg)

In a matter of days, Trump has torched bridges all around him.  One Trump confidant likened the president to a whistling teapot, saying that when he does not blow off steam, he can turn into a pressure cooker and explode. A ‘Pressure Cooker’: Trump Frustration and Fury Rupture Alliances, Threaten Agenda (Washington Post)

“The war on coal is over,” the Trump Administration declared yesterday in announcing they would roll back the Clean Power Plan. As one observer noted, “You see a pretty powerful message.  Disavow any effort to control greenhouse gases in the power sector, and instead, intervene in the market to promote coal.  It’s a wow,” she said. Trump Plays Down Health Hazard in Justifying Climate Rule Repeal (Bloomberg)

As demand for international bandwidth grows by 45% per year, Google, Facebook and Microsoft are working to lay their own ultra-fast fiber networks – including laying their own undersea cables.  Tech Giants are Building Their Own Undersea Fiber Networks   (The Economist)

Many local residents in the Virgin Islands credit non-profit organizations like Bloomberg Philanthropies and the Kenny Chesney Foundation for progress in hurricane relief efforts. In Maria-Battered St. John, Non-Profits Lead Recovery Efforts (New York 1 News)

Most Read and Emailed on the Bloomberg Terminal (Last 24 Hours):
Brevan Howard is Said to Plan Hedge Funds Amid Client Exodus (Most Read)
Private-Jet Glut Spurs ‘Insane’ Bargains for Aspiring Buyers (Most Emailed)

Tweet of the day:

@MikeBloomberg  The EPA can repeal the Clean Power Plan but not the laws of economics.  This won’t revive coal or stop the US from meeting our Paris goal.

And finally:  In an unusual move for a serving Prime Minister, Theresa May has agreed to take part in an LBC Radio show today to take questions phoned in from the public.  A former adviser to Nick Clegg offered his thoughts on what it it’s like to put your minister at the mercy of the public on LBC Radio, as they did for Clegg’s weekly call in show, “Call Clegg”:  “LBC was a gamble for us.  It was originally inspired by Michael Bloomberg [who had a weekly radio show while Mayor of New York].  You never really knew what would come up.  You could prepare for most policy, but anything was on the table.”  Playbook Tips for Theresa May (Politico – London Playbook)

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