31 May 2019 FT — Articles to Read

31 May 2019


Question: According to MSN: News, How many people go to jail per year?


Brazil’s shrinking economy sparks fears of quick return to recession – Pg. 1

–          Brazil’s economy shrunk in the first quarter of this year,…

–          The development – marking the first contraction since 2016 – has raised fears that Brazil could return to recession less than two years after emerging from a brutal years-long downturn

–          More than 13m people in Brazil are currently unemployed.  About 55m people, more than a quarter of the population, now live below the poverty line, up from 52m in 2016

–          Official government data yesterday showed a contraction in GDP of 0.2% in the first quarter

–          Economic growth for the year is now forecast at 1.2%, down from an estimated 2.6% in January


JPMorgan pays record settlement in parental leave win for ‘Wall Street dads’ – Pg. 1

–          …bank’s failure to uphold policies giving men and women equal access to parental leave

–          …16-week paid leave JPMorgan offers primary caregivers

–          The case was an embarrassment for JPMorgan, which holds itself up as a progressive, family-friendly employer with policies more generous than most rivals, and last year increased non-primary caregiver leave to six weeks at full pay.  The bank argued that its policies were meant to be gender neutral but were incorrectly applied


Fed to consider rate cut if outlook darkens – Pg. 2

–          Growth remains robust, with the economy expanding at a revised annualized pace of 3.1% in the first quarter, …but other countries have slowed and US inflation has undershot the Fed’s 2% goal despite low unemployment

–          Since the Fed’s April 30 and May 1 policy meeting, the White House has announced increases in tariffs on $200bn of Chinese imports, prompting a response by Beijing.  The US has also unsettled markets with its actions against Huawei, the Chinese telecoms equipment maker


Corn reaches three-year high after US floods – Pg. 19

–          Prospects of a collapse in US corn production due to widespread flooding in the country’s corn belt has led to prices of the grain soaring to levels not seen in three years

–          The International Grains Council has cut its forecast for the 2019-20 global corn crop to 1.12bn tonnes, a 1% decline from the year before and down 7m tonnes from last month

–          Winter wheat, which has rallied one-fifth this month, is also suffering from the wet conditions – 61% of crops are in “good” or “excellent” condition…


Answer: 10.6 million