* NYT (Saturday): Donald Trump called on the Federal Reserve to cut interest rates and take additional steps to stimulate economic growth, his latest attempt to put the traditionally independent central bank under his thumb; Trump’s personal lawyer said the president can keep his tax returns private and told the Treasury Department not to hand the returns over to House Democrats, creating the potential for a far-reaching legal fight that could reach the Supreme Court; An analysis by The New York Times of recent terrorism attacks found that at least a third of white extremist killers since 2011 were inspired by others who perpetrated similar attacks, professed a reverence for them, or showed an interest in their tactics; Trump’s trade war with China is nearing a possible truce, but global companies are nevertheless moving to reduce their dependence on Chinese factories to make the world’s goods; Ignoring pressure from Washington, crown prince Mohammed bin Salman of Saudi Arabia escalated his crackdown on even mild dissent with the arrests this week of at least nine intellectuals, journalists, activists and their family members—including two dual Saudi–American citizens; A large group of TV writers affiliated with the Writers Guild of America claim the major talent agencies have been enriching themselves at the expense of their clients; (Sunday): Front page story reports a fungus called “Candida auris” that preys on people with weakened immune systems is quietly spreading across the globe, and has been found in New York, New Jersey, and Illinois, leading the federal Centers for Disease Control and Prevention to add it to a list of germs deemed “urgent threats”; A month before a national election, the worst rolling blackouts in years are regularly plunging South Africans into the dark, with warnings of “load-shedding” popping up on cellphones, ahead of power cuts imposed to prevent a collapse of the national electricity grid; Sunday Business: The Australian economy has gone nearly 28 years without a recession, but many in the country are cautious about the future, and there is little evidence among business people and government officials of triumphalism; Modern monetary theory—which says that annual deficits are too small and the U.S. can essentially print money to pay off its debt—has long been criticized by experts, but is now attracting some fans on Wall Street; Investment fees are so low that many investors may have assumed there is no more room to drop—but fees are on the verge of falling below zero, and some major companies will soon be paying customers to invest with them, according to investment research firm Flowspring.
* WSJ (Weekend): Front page story reports “The battle for new listings—and the perks NYSE and Nasdaq are willing to offer to lure potential clients—is set to be epic this year, with values potentially beating the record set during the dot-com frenzy”; The Trump administration is set to designate Iran’s Islamic Revolutionary Guard Corps as a foreign terrorist organization, a step that would vastly escalate the American pressure campaign against Tehran—but which has divided U.S. officials; If the world was at risk of sliding into recession, policy makers appear to have pivoted in time to prevent it—in the U.S. a slowdown never got started, while in the rest of the world, the panic that gripped financial markets last year appears to have been misguided; +/- BA: The FAA’s acting head told lawmakers there were no systemic problems with the qualifications of staff who helped establish training for Boeing’s grounded 737 MAX jet; + FB: A Wall Street Journal/NBC News poll found that Americans have a paradoxical attachment to social media: they regard services like Facebook to be divisive and a privacy threat but continue to use them daily; A mounting conflict in Libya following a renegade commander’s attack on Tripoli could upset the global supply of oil, and increases the likelihood that the U.S. will renew waivers for some buyers of Iranian oil; Trade talks between Chinese and U.S. negotiators concluded in Washington with no clear timeline for resolution, but with both sides touting progress and vowing to continue talking via videoconference; A new rule form the Consumer Financial Protection Bureau gives an upgrade to prepaid payment cards and mobile services, giving users the same protections as those for bank debit-card customers; + SCHW: The firm launched Schwab Intelligent Portfolios Premium, which after an initial $300 fee costs $30 per month for unlimited access to financial planners and online tools that can help clients set objectives, define risks, minimize taxes, save for college, finance a home, manage debt; Former Nissan chairman Carlos Ghosn will be held in jail until at least April 14 without possibility of bail, after being arrested on fresh suspicions of financial misconduct less than a month after he was released on bail; A new set of principles unveiled by the International Competition Network aims to make the process by which antitrust laws are enforced more transparent, predictable and consistent across international jurisdictions; H.O.T.S.: “China’s efforts since the economy’s deep downturn in 2015 have helped stave off an immediate financial crisis, but they severely damaged the dynamic private companies that drive growth”; Friday’s jobs report makes the Fed’s stance look too cautious, but since it won’t soon grow hawkish, the situation for stock investors looks promising; SNAP hosted its first annual partner summit, announcing new features and collaborations across its platform, including lens updates for its camera, augmented reality, video and gaming.
* FT (Weekend): European Union leaders “have given a cool response to Theresa May’s request for a further short delay to Brexit, as the EU wrestled with whether to postpone Britain’s departure from the bloc for up to a year”; The prospective appointments of two Trump loyalists to Federal Reserve board are raising concern among analysts and some lawmakers, particularly in light of Trump’s move to pressure chairman Jay Powell to ease monetary policy; Big Read piece says Nordic banks that believed they’d found an opportunity in the Baltic region now find themselves enmeshed in a Russian money-laundering scandal that threatens the reputation of entire countries; Lex Column: Hoteliers continue to fight for share in a market that continues to grow along with the number of wealthy people in the world who want top-notch service; Newly launched “hyperlocal” social networks will still have to compete with the big players; “Listed UK retailers are as fashionable among investors as steam trains and telegraph machines”; Comment: A more protective EU that strong defends its interests and relies less on “soft power” than in the past is arguably a necessary condition for defeating political extremism and populism inside the bloc.
* NY POST (Saturday): +/- MS: The bank is trying to distance itself from its role in helping early LYFT investors bet against the ride-hailing company after Lyft threatened to sue the bank and report it to regulators; (Sunday): Wall Street is hiring professionals to profit from a mountain of near-junk debt ahead of a looming global credit crunch that could roil markets and torpedo funds and businesses. Related ( RAGSX )