General Electric

EU To Retaliate "Within Days" If US Imposes New Sanctions On Russia

According to an internal memo leaked to the press, Brussles said it should act "within days" if new sanctions the US plans to impose on Russia prove to be damaging to Europe’s trade ties with Moscow. Retaliatory measures may include limiting US jurisdiction over EU companies.

EU "Sounds Alarm" Over New US Sanctions On Russia; Germany Threatens Retaliation

The European Union "sounded an alarm on Saturday" about moves in the U.S. Congress to step up U.S. sanctions on Russia, urging Washington to keep coordinating with its G7 partners. In a statement by a spokeswoman after Republicans and Democrats in the U.S. Congress reached a deal that could see new legislation pass, the European Commission warned of possibly "wide and indiscriminate" "unintended consequences."

Euro Surges To 2-Year High In "Bipolar" Draghi Reaction; Futures Flat

"Draghi tried to talk the Euro down, even going so far as to suggest that ECB’s quantitative easing could be increased and prolonged," said Swissquote Bank's Yann Quelenn. "But the currency markets were not buying Draghi’s line, and neither are we. Available bonds are too scarce, and turn to a taper is too clear to disguise."

Are Illinois & Puerto Rico Our Future?

The days of interstate highway systems and moon shots seem to be behind us. Are Puerto Rico and Illinois the harbingers of what is to come?

Frontrunning: June 15

  • Markets Are Sliding Again (BBG)
  • Trump’s Legal Peril Deepens as Mueller Expands Scope of Probe (BBG)
  • Trump blasts report on possible obstruction of justice probe (Reuters)
  • Putin says ex-FBI head Comey gave no proof Russia meddled in U.S. election (Reuters)
  • The Fed Is Flying Blind (BBG)

Frontrunning: June 13

  • The Snowballing Power of the VIX, Wall Street’s Fear Index (WSJ)
  • Beneath the Uneasy Peace Between Donald Trump and Janet Yellen (WSJ)
  • Senators to Query Sessions on Russia, Comey (BBG)
  • U.S. lawmakers to probe Tillerson on Russia, diplomacy budget cuts (Reuters)
  • Under pressure to soften Brexit, PM May to meet Northern Irish 'kingmakers' (Reuters)

GE CEO Jeff Immelt To Step Down

In a major shakeup at one of the largest US industrial conglomerates, General Electric said Monday Jeff Immelt, 61, would step down as CEO and Chairman, a move that had been expected by many. John Flannery, 55, the company’s current president and CEO of GE Healthcare, will take over as companywide CEO effective August 1, concluding a 16 years period during which the stock price of GE has barely budged.