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from Mark Jones:

Five smart views: What’s behind the downing of Flight MH17 over Ukraine, and what happens next? http://t.co/Lu6L1Hi00d

Five smart views: What’s behind the downing of Flight MH17 over Ukraine, and what happens next? http://t.co/Lu6L1Hi00d

from Global Markets Forum Dashboard:

Could plane tragedy bring swifter peace to Ukraine?

The shooting down of a Malaysian Airlines passenger aircraft over eastern Ukraine left 298 people dead and the world’s leaders demanding an international investigation into what our reporters in region say could mark a pivotal point in the worst crisis between Russia and the West since the Cold War. This was certainly also the view of our guest this morning, Alisa Lockwood, senior manager and country risk analyst at IHS. “Although we still don't have any confirmation of who was behind this, the accusations that are being made against the separatists mean that (Russian president Vladimir) Putin will be under pressure to do more to seek a peaceful resolution. If he does, and this is accompanied by a strong push by the Ukrainian armed forces -- and potentially the introduction of a multilateral peacekeeping force -- then we will see a swift resolution,” Alisa said. “But if Russia blames the Ukrainian side for this incident and continues to be intransigent, this will unite Europe in pursuing stricter measures that it has thus far held back from.” The United States earlier this week imposed its toughest sanctions yet on Russia, hitting a number of the country’s largest companies such as Rosneft and Gazprombank, although Gazprom itself was spared.

Kiev and Moscow for now have blamed one another for the disaster, which, if it is confirmed that the Boeing 777 was shot down deliberately, will be the worst attack on a commercial airline since the late 1960s. Russian stocks have borne the brunt of investor unease over the broader economic impact of further sanctions. The rouble-traded MICEX index has fallen by nearly 5.7 percent this week, marking its biggest weekly decline since mid-March when Moscow annexed Crimea. World stocks are set for their largest week of declines since then as well. Volatility had declined to near record levels across most asset classes as few expect any surprises from the major central banks in the coming months, which has left geopolitics as one of the key potential catalysts. Indeed, investor nervousness, as gauged by the VIX index – which reflects the volatility of options on the underlying S&P 500 – is at its highest in three months. The VIX itself jumped by more than 32 percent on Thursday in the wake of the crash – the largest one-day rise in percentage terms since April 2013. “On the markets, it's been an incredibly violent year -- Ukraine, Syria, Iraq, Libya, now Gaza -- and it's really caused only very minor ripples,” Reuters EMEA economics and politics editor Mike Peacock told the forum. “But there was a kneejerk (reaction) down last night and if this escalates into a more dramatic Russia versus West standoff, it could have an impact.” Mike pointed out that while there was no real question of western military action, trade sanctions must be on the agenda now even though these would hurt the European Union as well as Russia. “If imposed, Moscow could start trying to interfere with gas supplies to western Europe. Given a mild winter and warm summer, the EU has plenty of stockpiles for now, but it would bite hard in the winter. Anyway, we’re not there yet, and the hope is that Putin takes a sizeable step back,” Mike said.

from Global Markets Forum Dashboard:

Global Markets Forum Schedule

Date Time Chat Monday, July 21st 1130 SGT FX Weekahead with John Noonan, Head of IFR FX Watch Asia, FX Markets Weekly TBC Yang Razali Kassim, Senior Fellow, NTU S. Rajaratnam School of International Studies on
"Indonesia post-elections" 1400 GMT/1000 EDT AlphaNow's Greg Harrison in earnings: Netflix, Apple and Amazon 1430 GMT/1030 EDT Mark Meadows on global sports highlights 1500 GMT/1100 EDT Technical Analysis with IFR's Joel Marver and Chris Moore 1900 GMT/1500 EDT Rev. Robert Sirico on Vatican finances Tuesday, July 22nd 1100 SGT Commodities Focus 1400 SGT Sean Maloney, Chief Economist and Strategist, Finconomics 0900 GMT/1000 BST Bernard Dahdah, Precious metals analyst, Natixis 1000 GMT/1100 BST Breakingviews Express – discuss the day’s top stories with our columnists 1300 GMT/0900EDT Technical Analysis with Cornelius Luca on the S&P 500 rally; Gold vs Oil; leading currencies 1730 GMT/1330 EDT IFR Markets: Credit markets with IFR analysts 1500 EDT Pacific Standard Wednesday, July 23rd 0630 SGT Market Technicals with Warren Bevan, Wizzen Trading 1130 SGT Market Technicals with Richard Sexton, IFR Technical Analyst 0900 GMT/1000 BST Adam Myers, European Head of FX Strategy at Credit Agricole CIB 1000 GMT/1100 BST IFR Currency Corner with technical analyst Martin Miller 1700 GMT/1300 EDT John Adler, head of Retirement Security Campaign at Service Employees International Union
on pension reform 1730 GMT/1330 EDT IFR Markets: Credit markets with IFR analysts 1500 EDT Washington Weekly Thursday, July 24th 1130 SGT Breakingviews Express with China Editor John Foley 1400SGT Euben Paracuelles, Southeast Asia Economist, Nomura 0900 GMT/1000 BST Nick Stamenkovic, RIA Capital 1000 GMT/1100 BST Breakingviews Express EMEA – discuss the day’s top stories with our columnists 1700 GMT/1300 EDT Andy Thompson, associate principal, ARUP 1430 GMT/1030 EDT Christopher Sabatini, Senior Director of Policy, Council of the Americas 1530 GMF/1130 EDT Ben Axler, managing partner of Spruce Point Management, on activist equity investing 1730 GMT/1330 EDT IFR Markets: Credit markets with IFR analysts 1900 GMT/1500 EDT Economist Alan Tonelson of RealtyChek on manufacturing 2030 GMT/1630 ECT Pacific Standard: Scott Baker, Kellogg School of Management Friday, July 25th 1200 SGT Markets Weekly with Nachum Kaplan, Reuters Financial Markets Asia Editor 1400 SGT ASIA Friday Quiz 0900 GMT/1000 BST Tanya Rawat, manager, Arqaam Capital 1000 GMT/1100 BST Weekahead with Mike Peacock, Reuters EMEA economics and politics editor 1330 GMT/0930 EDT EMEA/AMERS Friday Quiz 1500 EDT IFR Markets: Credit markets with IFR analysts

from Mark Jones:

In Iran talks, ‘no deal’ bests ‘bad deal’ for U.S. http://t.co/LgxTukVfpl

In Iran talks, ‘no deal’ bests ‘bad deal’ for U.S. http://t.co/LgxTukVfpl

from India Insight:

Movie Review: This ‘Pizza’ is half-baked

(Any opinions expressed here are those of the author and not of Thomson Reuters)

If the rule of thumb to gauge the worth of a horror movie is how badly it scares you, then Akshay Akkineni’s supernatural thriller ‘Pizza’ is successful only in parts. That’s tragic, considering the plot held promise and would’ve worked had it been treated more intelligently and with attention to finer detail.

pizzaaKunal (Akshay Oberoi) and Nikita (Parvathy Omanakuttan) are a married couple. Kunal is a pizza delivery man while Nikita writes horror novels. Money is scarce and they struggle to make ends meet. One night Kunal delivers a pizza to a woman (Dipannita Sharma) at her bungalow.

from Full Focus:

Crash of Flight MH17

Images from the crash site of Malaysia Airlines Boeing 777, downed by a missile over east Ukraine with 298 aboard.

from Gregg Easterbrook:

After MH17: The technical fix that could protect civilian airliners from missile attacks

Site of a Malaysia Airlines Boeing 777 plane crash is seen at the settlement of Grabovo in the Donetsk region

The awful crash of Malaysian Flight 17 in the eastern Ukraine combat zone seems likely to have been caused by a long-range surface-to-air missile. At this writing, who launched the missile remains undetermined. Regardless of who’s guilty -- why is a modern software-driven weapon capable of striking a civilian jet in the first place?

All commercial airliners send out transponder signals that identify them as civilian. In most cases, what’s employed is a protocol called Mode C, which is not used by military aircraft.

from The Great Debate:

After MH17: The technical fix that could protect civilian airliners from missile attacks

Site of a Malaysia Airlines Boeing 777 plane crash is seen at the settlement of Grabovo in the Donetsk region

The awful crash of Malaysian Flight 17 in the eastern Ukraine combat zone seems likely to have been caused by a long-range surface-to-air missile. At this writing, who launched the missile remains undetermined. Regardless of who’s guilty -- why is a modern software-driven weapon capable of striking a civilian jet in the first place?

All commercial airliners send out transponder signals that identify them as civilian. In most cases, what’s employed is a protocol called Mode C, which is not used by military aircraft.

from Chris Hughes:

UK banks have much to fear from latest probe

By Chris Hughes

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The latest competition review of UK banking should aim to be the last. An antitrust probe in 2000 led to limited price controls after concluding that British lenders made excess profit. There were two more big investigations after the financial crisis. Yet concerns about market inefficiencies persist. That suggests the Competition and Markets Authority should do something radical this time.

from The Great Debate:

What’s behind the downing of Flight MH17 over Ukraine, and what happens next? Five smart views.

Armed pro-Russian separatist stands at a site of a Malaysia Airlines Boeing 777 plane crash in the settlement of Grabovo in the Donetsk region

On Thursday Malaysian Airlines Flight 17, with 298 people on board, was shot down over Grabovo, Ukraine, by what officials have described as a Russian-made antiaircraft missile. As investigators uncover details of the attack -- including the origins of the missile -- Russian President Vladimir Putin’s role in the Ukraine crisis will come under renewed scrutiny. Below are five takes on what happened and why, as well as what the consequences will be.

 The Daily Beast: Why Putin let MH17 get shot down
James Miller questions why Putin would allow the separatists to have a weapon capable of downing a commercial plane, without controlling how it was used. “This is an advanced and battle-proven series of highly sophisticated vehicles which coordinate to track targets with radar and fire missiles so advanced that they were designed to knock smart bombs and cruise missiles out of the sky. Whoever launched this weapon was highly trained and extremely well-equipped.” He explains how the owners of the Buk surface-to-air missile system, which likely brought down the plane, could have confused a commercial airliner for a military jet. (The system works properly, Miller says, when used in tandem with various radar systems.) “Putin’s urgency in Ukraine has turned to recklessness,” writes Miller, and Thursday’s events epitomize that recklessness.

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