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Ps: 亲们，Financial Times NEWS 共有6篇，每隔一个绿色标题为1篇。希望大家也能分享一下。 Europe up after Asia shows new confidenceBy Andrew Bolger in London and Patrick McGee in Hong KongThursday 08:15 GMT. European shares opened on a positive note after Asian markets signalled growing confidence that the crisis in Ukraine has eased, at least for now.In early trading, Londons FTSE 100 quickly regained Wednesdays loss of 0.7 per cent, while the Eurofirst 300 rose by 0.4 per cent after closing flat the previous day. Futures suggest the S&P 500 will open 0.4 per cent higher, after it closed flat but near record levels. “Markets have taken on somewhat of a calmer tone in part due to hopes that discussions between the US and Russia will find some form of solution to the recent escalation of tensions in Ukraine,” wrote Mitul Kotecha at Crdit Agricole.But investors remain cautious ahead of the European Central Bank policy decision, due later on Thursday, and the closely watched US monthly jobs report on Friday.Japans Nikkei 225 average rose 1.6 per cent to its highest level since late January, outperforming other markets as the yen weakened 0.3 per cent to Y102.6 against the dollar, its lowest since February 22. The currency has fallen 1.4 per cent since Monday, when investors were seeking shelter after Russian troops occupied the Crimean peninsula.Hong Kongs Hang Seng index rose 0.5 per cent, while South Koreas Kospi Composite was up 0.2 per cent.Other assets perceived as havens were steady, reflecting the cautious mood. The price of gold was flat at $1,338.9 an ounce, while the 10-year Treasury yield fell slightly overnight to 2.7 per cent.In New York, the S&P 500 also put in a steady performance on Wednesday, ending a fraction lower after touching a fresh intraday peak in spite of disappointing jobs and service sector data that prompted some economists to scale back their estimates for Februarys employment report.ADP, a private US payroll processor, said that 139,000 jobs had been created in February fewer than the markets had expected and revised down its January figure from 175,000 to 127,000.The US reports “revealed surprising February service sector weakness that boosted downside risks for Fridays US jobs report, and we have lowered our payroll estimate to 130,000 with substantial risk of a sub-100,000 figure,” said Michael Englund at Action Economics.News in Asia was sparse, but in Australia fresh data suggested two key drivers of the economy were functioning far better than anticipated in January crucial as the economy attempts to find new sources of growth as the mining boom cools.Retail sales rose 1.2 per cent in January, a ninth consecutive month of gains and the best reading in 11 months, while Australias trade surplus jumped to A$1.43bn, its highest since September 2011.“The recent string of feel-good data, combined with the recent buoyant turnround in business confidence, could be the key to stimulating investment and employment this year, the weak spots of 2013,” said Annette Beacher, head of Asia-Pacific research at TD Securities.“The evidence is building that domestic demand is picking up strongly. All the while, resource exports are ramping up,” added Paul Bloxham, chief economist at HSBC.The Australian stock market pared earlier losses, with the S&P/ASX 200 closing little changed near its five-and-a-half-year high. Ms Beacher said the data were “a two-edged sword” for the equity market because they took away any chance of further stimulus from the Reserve Bank of Australia.The Australian dollar rose 0.4 per cent and so far this week has been lifted 1.4 per cent, to US$0.902 from US$0.889.Meanwhile, the Shanghai Composite rose 0.3 per cent, halting a two-day drop. China appears to be heading for its first onshore corporate bond default on Friday, after Shanghai-based solar cell maker Chaori Solar said earlier this week that it did not have the funds to make an annual interest payment.The market impact is unclear, however. Some analysts have suggested it could cause a chain reaction, while others say it should promote reform and help investors better price risk. US feels the chill of more weak jobs dataBy Robin Harding in WashingtonFears are rising of another weak payrolls report this Friday as the long, cold winter in parts of the country puts a freeze on the US economy.Data from payrolls工资单 processor ADP showed the creation of just 139,000 private sector jobs in February, and there was a nasty凶险的 surprise from the services industry, where employment activity plunged to进入到 its lowest level in nearly four years.Most economists still think the weak data reflect an unusually cold and snowy winter, with strong growth set to resume in the spring, but as the soft patch enters its third month their jitters are growing.“I think to blame the weather for 100 per cent of the slowdown is an overstatement,” said Steve Blitz, chief economist at ITG Investment Research in New York.The market consensus is for official jobs numbers due on Friday to show an increase of 150,000 with the unemployment rate holding steady at 6.6 per cent. Analysts expect a modest rebound after jobs growth of just 75,000 and 113,000 in December and January.At the end of 2013 the economy seemed poised to accelerate, with a run of monthly jobs growth above 200,000, but that wave of optimism has subsided after the first months of 2014 delivered only a familiar pattern of mediocre economic expansion and downward revisions to the economic data.The purchasing managers index for the services sector fell from 54 in January to 51.6 in February, where a reading of 50 separates expansion from contraction. But a sub-index on hiring activity fell from 56.4 to 47.5 the first contraction in employment after 25 months of growth.“The weather is likely at least a partial culprit: February was much colder and snowier than usual.but even allowing for that, this is a deeply disconcerting number,” said Ian Shepherdson at Pantheon Macroeconomics.“A sharp contraction in the hiring subcomponent is particularly concerning,” said Ksenia Bushmeneva, an economist at TD Bank. “The magnitude of the decline suggests the possibility of another disappointing payroll report on Friday.”The weather is likely at least a partial culprit: February was much colder and snowier than usual.but even allowing for that, this is a deeply disconcerting number Some details of the Institute of Supply Managements services report suggest the weather is to blame, with construction and wholesale companies explicitly citing the cold and snow, and forecasting a return to stronger activity in April.But there were also companies in industries such as finance and technical services, which are less likely to be affected by weather, that said the economy is trending slightly lower or growing very slowly.Meanwhile, the ADP data not only came in below expectations of a 155,000 increase, but there was also a large downward revision to Januarys figure from growth of 175,000 jobs to 127,000.The data pose a conundrum for the US Federal Reserve because the weather effect makes it hard to get a clear reading on the underlying health of the economy. Most Fed officials have argued that weather is the main reason for recent weakness.As a result, the Fed is likely to taper its monthly asset purchases by another $10bn to $55bn on March 19, even if there is another weak payrolls report on Friday. The March meeting will be the first at which new chairwoman Janet Yellen is in charge. EU plans voluntary rules on conflict mineral importsMarch 5, 2014 6:02 pmEU plans voluntary rules on conflict mineral importsBy Christian Oliver in Brussels, Katrina Manson in Nairobi and James Wilson in LondonReuters A miner washes tin ore in eastern CongoThe EU on Wednesday proposed voluntary rules to prevent European companies importing conflict minerals, saying Americas tougher legislation立法 had backfired违背意愿 by pushing many US companies to quit Africa.Karel De Gucht, the EUs trade commissioner贸易专员, said Europe would use a “carrot rather than a stick” to police监督 the European companies that import tin锡, tantalum钽, tungsten钨 and gold. Some of these minerals come from regions such as Africas Great Lakes, where mining bankrolls提供资金 warring militias敌对民兵.Mr De Gucht argued that Americas legislation立法 on conflict minerals from 2010, Dodd-Frank Section 1502, had “unintended consequences意外后果”. To avoid litigation诉讼, US companies now spurn摒弃 traditional sources of minerals around Africas Great Lakes in favour of 支持developed nations such as Canada, he said. “Mines can get shut down as they lose business. People lose not only their jobs but often the livelihood for their families: communities collapse,” Mr De Gucht said, adding that people could be forced into smuggling.Although about 880,000 EU companies use sensitive minerals, Brussels insists that it will focus on the 400 main importers that supply mobile phone companies, carmakers and aerospace companies. “That is realistic to control,” Mr De Gucht said.The commission proposes that those 400 importers should agree to voluntary audits to acquire certification that their supply chain has not funded violence自愿获得审计认证，他们的供应链没有为暴力提供资助. Much of that will depend on the EU collaborating 合作with the OECD经济合作与发展组织, the Paris based group that aims to promote sustainable growth可持续增长, to form a “white list” of global smelters 熔炉and refiners精炼者 to identify those that avoid conflict minerals. Currently, the commission estimates that only 20 per cent of smelters and 40 per cent of refiners carry out due diligence on their supply chain.The EU is a big buyer of the most sensitive metals. It imports about 25 per cent of the global trade in tin, tungsten and tantalum and about 15 per cent of gold.One EU official admitted that the main incentive动机 to the European importers would be reputational. Aware of increasing public scrutiny详细审查 over conflict minerals, companies would seek to source their materials from the EUs certified证实 importers, he argued.In public procurement公营部门采购, the proposal倡议 would have sharper teeth, with the EU saying it would only buy materials from certified supply chains. The bloc would also offer support to small businesses that found it too costly to carry out the necessary checks on where their minerals came from.Anything short of a mandatory强制的 reporting obligation for EU-based companies using and trading natural resources will fail to prevent Europe from acting as a conflict mineral trading hub中心. However, Graham Stuart, a partner at Baker & McKenzie, a law firm, noted that the proposals were “very different from where we started out. The commission委员会 will have to do quite a lot of work to explain why it thinks this approach will be the most effective and pragmatic实际的 way to control the problem.”While Dodd-Frank focused on Africa, the EU plan will apply worldwide.Seema Joshi of Amnesty International said the EUs approach did not go far enough. “Anything short of a mandatory 强制的reporting obligation for EU-based companies using and trading natural resources will fail to prevent Europe from acting as a conflict mineral trading hub,” she said.Gregory Mthembu-Salter, a due diligence consultant and architect of UN guidelines on conflict minerals in Congo, said the European proposals could lack “enough bite to have any impact”. In fact, both Dodd-Frank and the EU proposals seemed to miss the target, he said.“The problem with Dodd-Frank is you can never fix things; you have to run away if you find a problem in your supply chain. You should have a chance to fix things but it shouldnt be voluntary you shouldnt just do them when you feel like doing them.” Calm returns as focus shifts from UkraineBy Dave ShellockWednesday 21:05 GMT. Calmer conditions returned to global markets as the focus began to shift away from events in Ukraine and back to more mundane世俗的 matters such as economic data and the forthcoming来临的 European Central Bank policy decision.China also reappeared on participants radar雷达 screens amid concerns that the country was facing its first onshore corporate bond default违约,、 and as Beijing maintained its target for economic growth this year at 7.5 per cent.“The situation in Ukraine has settled down and China has left its growth forecasts unchanged, suggesting the focus will return to the broader fundamentals and the policy and data events over the coming days,” said Hans Redeker, head of global FX strategy at Morgan Stanley.“The ECB meeting and staff projections on Thursday, and the labour market surveys from the US will be important.”In New York, the S&P 500 equity index ended a fraction down from Tuesdays record closing high, after reaching a fresh intraday peak earlier in the session. The CBOE Vix volatility index was down 0.1 per cent late in the session.Across the Atlantic, the FTSE Eurofirst 300 slipped less than 0.1 per cent, while the Nikkei 225 in Tokyo climbed 1.2 per cent.Russian equities were becalmed following the wild swings of the past two sessions. The Micex stock index ended 0.4 per cent lower, while the rouble held steady against the dollar as the markets scrutinised diplomatic efforts to resolve the Ukraine crisis.Meanwhile, Wall Streets steady showing came in spite of some disappointing jobs and service sector data that prompted some economists to scale back their estimates for Fridays February employment report.ADP, a private US payroll processor, said 139,000 jobs had been created in February less than the markets had expected and revised down its January figure from 175,000 to 127,000.Furthermore, the Institute of Supply Managements index of non-manufacturing activity fell to a four-year low of 51.6 in February, from 54.0 in the previous month. The employment sub-index tumbled to 47.5, also the lowest reading since 2010. “Todays US reports revealed surprising February service sector weakness that boosted downside risks for Fridays US jobs report, and we have lowered our payroll estimate to 130,000 with substantial risk of a sub-100,000 figure,” said Michael Englund at Action Economics.By contrast, the final readings for the eurozone service sector and composite purchasing managers indices for February were both revised up from the “flash” estimates to their highest levels in 32 months. Chris Scicluna, an economist at Daiwa Capital Markets, said this suggested a possible acceleration of growth for the region in the current quarter.“Given the firmness of the latest activity and survey data, as well as last weeks upside surprise to Februarys inflation not to mention the recent upward shift in crude oil futures prices on the back of turbulence in Ukraine it is now very difficult to see any consensus in favour of a further rate cut when the ECBs governing council meets on Thursday,” he said.The euro held in a narrow range against the dollar ahead of the ECB decision, with the single currency trading less than 0.1 per cent lower at $1.3731. The dollar continued to edge higher against the yen rising 0.1 per cent to 102.28. Other “haven” assets remained out of favour, with the yield on the German 10-year government bond inching up 1 basis point to 1.61 per cent and that on the 10-year Treasury unchanged at 2.69 per cent.Gold was up $4 at $1,338 an ounce following a $16 fall on Tuesday. Among industrial commodities , Brent oil extended the previous days decline, settling $1.54 lower at $107.76 a barrel, the lowest since early February.In Shanghai, the mood was unsettled by concerns that Shanghai Chaori Solar would be unable to pay investors a near-$15m interest payment due on Friday. The Shanghai Composite stock index fell 0.9 per cent.Chinas annual meeting of the National Peoples Congress began with Premier Li Keqiang keeping its growth target at 7.5 per cent for 2014, the same goal as in the past two years.“At the same time though, Premier Li reiterated the need to control local government debt risks, increase oversight of shadow banking and suggested that fixed asset investment should slow,” said Mark Williams at Capital Economics.“He also took a tougher line on overcapacity. At face value, these goals appear incompatible. In resolving this tension, the GDP target is likely to take precedence.” China sets 7.5% growth targetBy Lucy Hornby and Tom Mitchell in Beijing and Simon Rabinovitch in ShanghaiChina is targeting economic growth of 7.5 per cent this year, a dovish goal that could force the government to stimulate the economy in the coming months as growth threatens to slip below the target. The target, announced by Premier Li Keqiang at the start of Chinas annual meeting of the National Peoples Congress the countrys faux parliament is identical to that set in the past two years. Many analysts and investors had predicted that Beijing might lower its target or set a broader range this year in a bid to push through reforms even at a short-term economic cost.For much of the past decade, Chinas growth target was effectively meaningless, with the gross domestic product expanding by an average of 10 per cent while the target called for no more than 8 per cent.However, with the maturing economy slowing, the target is becoming a more important signal of policy intentions. In the final quarter of 2013, GDP expanded 7.7 per cent year on year, and survey data have pointed to a further slowdown in the first quarter of 2014, leaving the government little margin for error if it is to hit its growth target.Mr Li, in his work report to the parliament, said it would not be easy to meet but expressed confidence in doing so.“We are at a critical juncture where our path upward is particularly steep,” he said, according to the text of his report. “At the same time it should be noted that China has the foundation and conditions for maintaining a medium-high rate of growth for some time to come.”It was Mr Lis maiden annual work report to parliament, coming at the end of his and President Xi Jinpings first year in office as the countrys new leadership duo. In 2013 when Chinese money market rates climbed towards double digits analysts argued the two were ready to accept a slowdown in growth in return for cleaning up the high levels of private and public debt accumulated over the past five years.But money market rates have dropped sharply in recent weeks, a sign the central bank has already presided over an easing of policy to help keep growth on track.Chinas other important economic targets for 2014 matched those of 2013. Once again, the government said it was aiming for an average inflation rate of 3.5 per cent and 13 per cent growth in the broad M2 gauge of money.Beijing did give itself a modicum of wiggle room for its growth target, phrasing it as “about” 7.5 per cent, just as in 2013. In February Zhou Xiaochuan, Chinas central bank governor had said the economy would grow between 7 and 8 per cent this year.The governments key criteria for assessing officials over the past three decades have been their record in delivering high-speed growth. But Mr Xi has called for more attention to other factors, including environmental protection and debt control, when weighing up how well officials have performed.The National Development and Reform Commission, a top central planning agency, said the 7.5 per cent goal should therefore be viewed as “flexible and guiding”. It also fired a warning shot across the bow of local officials hell-bent on growth. They “must not.compete with each other to have the highest growth rate,” it said.Beyond the headline GDP target, the government also set goals that could tilt the Chinese growth model towards more consumption and less investment a rebalancing that is needed to put t