JPMorgan, HSBC Among Banks Said to Help Manage Saudi Dollar Bond

Saudi Arabia selected banks including JPMorgan Chase & Co. and HSBC Holdings Plc to help arrange the sale of a dollar-denominated bond, people familiar with the matter said, as the kingdom seeks to plug its budget deficit. Goldman Sachs Group Inc. and Citigroup Inc. will also manage the offering that may happen as soon as this month, the people said, asking not to be identified because the information isn’t public. The Saudi Finance Ministry declined to comment.

3 Charts to Know: Top Sector Losers from Trump's Tariffs

U.S. investors are steeling themselves for Donald Trump's expected official sign-off on global tariffs on steel and aluminum. Bloomberg's Ramy Inocencio reports on which sectors and companies are likely to be the biggest losers on "Bloomberg Daybreak: Asia." RAMY INOCENCIO AT THE WALL TAKING A LOOK AT THE LIKELY LOSERS HERE IN A GLOBAL TRADE WAR. LOOKING AT WHAT WE HAVE IDENTIFIED HERE ON BLOOMBERG NEWS, THESE ARE THE TOP FIVE SECTORS THAT WILL BE NEGATIVELY IMPACTED BY THESE TARIFFS ON STEEL AND ALUMINUM IF THAT HAPPENS AS EXPECTED LATER THIS WEEK.

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  Electrolux halts Tennessee project after tariff announcement

  seattlepi.com
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  Electrolux suspends $250 million U.S. investment after steel tariff announcement

  Digital Trends

Uber CEO Calls MIT Study About Driver Pay ‘Incompetent’

Uber and its CEO, Dara Khosrowshahi, pushed back swiftly against a new MIT study claiming that the median income for Uber and Lyft drivers is just $3.37 per hour, and that 30% are actually losing money while they work. On Twitter, Khosrowshahi wrote that "MIT = Mathematically Incompetent Theories," and shared a response from the company's chief economist, Jonathan Hall. MIT = Mathematically Incompetent Theories (at least as it pertains to ride-sharing).

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  Driving for Uber or Lyft is awful, new study shows

  Futurism
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  Report: Uber And Lyft Drivers Often Make Less Than Minimum Wage

  Yahoo View

Trump Tariffs Are a Gift for OPEC and Russia. Not Shale

President Donald Trump's planned 25 percent import tariff on steel is a gift to OPEC and Russia. Steel used in oil pipelines has to meet rigorous technical specifications to ensure it doesn't corrode or fracture during a lifetime that may well exceed 30 years -- far longer than that of a domestic appliance or an automobile.

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  'Don't react': trade officials look past Trump noise at NAFTA talks

  Reuters
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  Europe To Retaliate With Tariffs On Harley, Bourbon & Blue Jeans; HOG Tumbles » Alex Jones' Infowars: There's a war on for your mind!

  Infowars

Alt Coins Forecast for the week of March 5, 2018, Technical Analysis

BTG/USD Bitcoin Gold initially tried to rally during the week but turned around at the $120 level to roll significantly and form a bit of a shooting star. The shooting star sits right at the bottom of the market, which is a very negative sign. However

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  Dow Jones 30 and NASDAQ 100 Price Forecast March 5, 2018, Technical Analysis

  FX Empire
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  Forex Monthly Outlook – March 2018

  FX Empire

Treasury Yields Pop on Fear of Trade War, More Robust Inflation

U.S. Treasury yields rebounded on Friday in reaction to President Trump’s tariff announcement on Thursday that sparked fear of a trade war and more robust inflation. According to Treasury data, the yield on the benchmark 10-year Treasury Note rose 6 basis points to 2.868 percent, while the yield on the 30-year Treasury Bond was up 6 basis points at 3.143. Some are saying that top Chinese officials could retaliate against unfriendly tariffs by reducing purchases of U.S. debt in the coming years, even as the Treasury Department prepares to increase supply.

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  Scaramucci says he's on list of banned White House staffers

  memeorandum
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  Trump Twitter-rages at EU with threat of a trade war after push-back over his steel tariffs

  Raw Story

China keeps growth target of around 6.5 percent this year

China aims to expand its economy by around 6.5 percent this year, the same as in 2017, Premier Li Keqiang said in remarks prepared for delivery at the opening of the annual meeting of parliament on Monday. The goal was kept unchanged even though the economy grew 6.9 percent last year, exceeding the government's target, suggesting that Beijing is keeping its focus on reducing risks to the financial system from a rapid build-up in debt. Sources previously told Reuters that China will maintain its growth target at "around 6.5 percent".

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  China warns Taiwan it won't tolerate separatist activities

  Reuters
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  China Military Spending Quickens as Xi Seeks ‘World Class’ Force

  Bloomberg

THE INSURTECH REPORT 2.0: The technologies disrupting the insurance industry and what incumbents can do to stay ahead

This report from Business Insider Intelligence, Business Insider's premium research service, will briefly review major changes in the insurtech segment over the past year. It will then examine how startups and legacy players across the insurance value chain are using technology to develop new business models that cut costs or boost revenue, and, in some cases, both. The fundamentals of insurance — policy creation, underwriting, and claims management — are starting to experience true disruption, while innovation in reinsurance has also continued at pace.

Why Corporate America Hates Trump’s Tariffs Proposal

President Donald Trump has proposed tariffs on aluminum and steel that he says will put the country first. While the policy would hit the auto and aerospace industries hardest, it would also have ramifications for a wide range of businesses — and products that Americans purchase daily. Beer, soft drinks, candy, canned soup and even pharmaceuticals rely on aluminum for packaging.

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  Lindsey Graham: Trump's Tariffs 'Huge Mistake,' 'Punishing the American Consumer'

  Breitbart
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  California Steel Industry Leaders Say Trump’s Tariffs Could Force Them to Cut Local Jobs

  KTLA-TV Los Angeles

Bitcoin Moves Ahead, with $12,000 in its Sights

Bitcoin had quite a week last week, gaining 14.08% Monday through Friday’s end of day $11,052.62. Friday saw Bitcoin and the cryptomarket struggle for direction, in spite of the strong weekly gain for Bitcoin, with Bitcoin gaining just 1.28%, with a mid-day sell-off seeing Bitcoin fall to an intraday low $10,774.01, testing its first major support level of $10,829 before moving back through to $11,000 levels by the close. Bitcoin’s dominance has been on the rise this year and now sits at 41.4%, the highest level since December of last year, which is reflected in Bitcoin’s rise in market cap, which now sits at $192.28bn, still well below its December peak $323.8bn, but well above this year’s $103.02bn low.

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  Bitcoin Back in the Red and Holding on to $11,000

  FX Empire
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  Bitcoin Cash, Litecoin and Ripple Daily Analysis – 04/03/18

  FX Empire

MIT study that found low pay for Uber drivers to be revisited

The study, by the MIT Center for Energy and Environmental Policy Research, found that drivers' median pretax profit was $3.37 per hour, using results from a survey of more than 1,100 workers of the ride hailing companies. Uber and other companies have defended their business models saying their drivers enjoy the flexibility of their work and on average earn more than the minimum wage, but have lost a series of court cases on the issue. Khosrowshahi criticized the MIT study in a tweet on Friday as "Mathematically Incompetent Theories (at least as it pertains to ride-sharing)," and linked to a response by Uber chief economist Jonathan Hall that challenged the study's methodology.

• Uber Challenges Study Suggesting Its Drivers Earn $3.37 Per Hour

  Tech News Tube
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  Uber CEO Calls MIT Study About Driver Pay 'Incompetent'

  Fortune

USD/JPY Fundamental Weekly Forecast – Trade War Fears Could Make Yen Desirable Asset

The Dollar/Yen closed sharply lower last week after posting a volatile two-sided trade. The dollar was supported as the spread between U.S. government bond yields and Japanese government bond yields widened due to hawkish comments from Fed Chair Powell. The Forex pair weakened after President Trump announced tariffs on steel and aluminum, triggering a collapse in the stock market.

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  Young Voices Advocates

  townhall.com
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  Trump was angry and 'unglued' when he started a trade war, officials say

  msnbc.com