Financial Markets and Economy
Two-Minute Mystery Pound Rout Puts Spotlight on Robot Trades (Bloomberg)
Making sense of the foreign-exchange market is Derek Mumford’s bread and butter, but he couldn’t explain this.
Qatar won't sell Deutsche Bank shares, might buy more – sources (Reuters)
Qatari investors who own the largest stake in Deutsche Bank do not plan to sell their shares and could consider buying more if the embattled German bank decides to raise capital, sources familiar with Qatari investment policy told Reuters.
Flash Crash of the Pound Baffles Traders With Algorithms Being Blamed (Bloomberg)
During two chaotic minutes of Asian trading, the pound plunged the most since the Brexit referendum in June, with traders saying computer-initiated sell orders exacerbated the slump.
Pound Plummets Against Dollar in Chaotic Trading (The Wall Street Journal)
HONG KONG—The British pound tumbled dramatically in chaotic trading that included a flash drop in early Asian hours and sustained falls in London. Late morning in Britain, it was down 3% against the U.S. dollar.
Commerzbank Disses Deutsche Bank in Blitz to Lure German Clients (Bloomberg)
The message couldn’t be simpler on the brochures dispatched to private households in Frankfurt this week: There’s only one “deutsche” bank standing by customers in Germany. Except Deutsche Bank AG is not the bank intended.
U.S. nonfarm payroll job growth seen pushing case for Fed hikes (Reuters)
U.S. employment growth likely picked up in September, putting pressure on the Federal Reserve to raise interest rates and signaling that steam could be building in the economy ahead of America's presidential election.
Here's a super-quick guide to what traders are talking about ahead of the jobs report (Business Insider)
Dave Lutz, head of Exchange Traded Funds at JonesTrading, has a quick overview of what traders are talking about right now.
Knowing When to Break Your Own Rules (A Wealth Of Common Sense)
Benchmark Capital’s Bill Gurley recently sat down to talk with Recode’s Kara Swisher on her podcast about the state of the venture capital world (he’s worried). He also shared some background on how he got his start in the business and how that’s shaped his philosophy over the years. Swisher asked Gurley what some of his rules are.
IMF, global finance leaders fret over populist backlash (Reuters)
World finance leaders on Thursday decried a growing populist backlash against globalization and pledged to take steps to ensure trade and economic integration benefited more people currently left behind.
Russia Becomes a Grain Superpower as Wheat Exports Explode (Bloomberg)
Almost 25 years after watching the Dawn of Communism collective farm where he grew up land in the dustbin of history, Andrey Burdin is helping turn Russia into something the communists never could: a grain-export powerhouse.
Lynn Tilton Just Can’t Stop Suing the SEC (Bloomberg)
Lynn Tilton has invited me to her lawyer’s office to explain why she’s not the fraud the U.S. Securities & Exchange Commission claims she is. While she’s at it, the distressed debt mogul elaborates on her latest lawsuit contending the regulator operates unconstitutionally.
Jobs report misses expectations, unemployment rate climbs (Business Insider)
The US economy added 156,000 jobs in September, and the unemployment rate unexpectedly ticked up, according to data released Friday by the Bureau of Labor Statistics.
‘Goldilocks is real’: September payrolls reactions (Market Watch)
Here’s a roundup of early reactions to Friday’s jobs report for September, showing 156,000 positions were created in the month. The unemployment rate rose to 5% from 4.9%.
Make A Loan, Don't Get Repaid: What Are The Tax Consequences? (Forbes)
It’s a story that’s as old as time itself: boy meets girl; girl loans boy $450K to fund the creation of a golf-themed comic strip; boy laughs his way all the way to the car dealership; boy loses girl, but keeps the cash.
Venture Capital hits a wall in Q3 as investments tumble 28% YOY (Venture Beat)
When it comes to venture capital, there’s bad news for entrepreneurs and then there’s worse news.
Let’s start with the bad news. According to a new report from the National Venture Capital Association, startups in the U.S. raised $15 billion in venture capital during the third quarter ending September, down 28.6 percent from $21 billion for the same period one year ago.
Companies
Snapchat Parent Working on IPO Valuing Firm at $25 Billion or More (The Wall Street Journal)
Snap Inc. is working on an initial public offering that could value the fast-growing virtual-messaging company at $25 billion or more, making it one of the highest-profile share debuts in years and possibly signaling a turnaround in the new-issue market.
Apple launched and then silently deleted a recruitment scheme called 'The Orchard' (Business Insider)
Apple quietly deleted a page on its website that was designed to find marketing employees for the company, Mac Rumors reports.
Wal-Mart Expects Profit Pressures, Fewer New Stores (The Wall Street Journal)
Wal-Mart Stores Inc. wants to make a big pivot: Instead of building supercenters to drive growth, the retailer hopes to become an e-commerce powerhouse that draws more shoppers to its existing stores.
Honeywell Cuts Sales Projections (The Wall Street Journal)
Honeywell International Inc. on Thursday cut its sales projections, citing a business slowdown and delays.
The Morris Plains, N.J.-based conglomerate now projects adjusted profit of $6.60 to $6.64 a share with sales down 1% to 2% from the year ago. It previously projected $6.60 to $6.70 a share in profit with sales declining about 1%.
Why It's Time for Samsung to Discontinue the Galaxy Note 7 (Fortune)
Even if Samsung doesn’t want to do so.
The Galaxy Note 7 was supposed to help Samsung take on the iPhone. But now, it’s becoming increasingly clear it might need to be discontinued.
Politics
Republican Trump says 70 percent of federal regulations 'can go' (Reuters)
U.S. Republican presidential nominee Donald Trump said as many as 70 percent of federal agency regulations could be eliminated if he is elected in November, just hours after an adviser said the candidate would seek to cut 10 percent.
Nobel Peace Prize awarded to Colombian President Juan Manuel Santos (CNN)
The 2016 Nobel Peace Prize has been awarded to Colombian President Juan Manuel Santos for his efforts to end his country's long-running civil war with FARC rebels.
An economist explains why Clinton’s plan to raise the minimum wage to $15 might be 'too much, too quickly' (Business Insider)
Gregory Daco, chief US economist at Oxford Economics, says Hillary Clinton's proposal to raise the minimum wage to $15 might be "too much, too quickly."
TRUMP: Clinton isn't preparing for the debate — she's 'resting' (Business Insider)
While participating in a town-hall event in New Hampshire on Thursday, Donald Trump balked at suggestions that he was using the event as preparation for the next presidential debate.
Technology
BMW, Toyota and Allianz back Nauto and its camera-based approach to making autonomous vehicles (Tech Crunch)
A self-driving car tech startup called Nauto has raised an undisclosed amount of venture funding, and entered into data-sharing partnerships with big name auto and insurance companies, BMW, Toyota and Allianz Group.
This Cop Turned A Helicopter Into An Amphibious Race Car (Popular Science)
Last year, the dented body of a 1969 Bell OH-58 Kiowa helicopter sold at auction for $3,101. Previously, it had served in the Vietnam War, flown missions for a federal drug task force, and been chopped up for parts in Nashville, Tennessee, before floating away during a flood. Instead of landing in the junkyard, it got a second lease on life—as an amphibious car.
Today's the Day To Buy Yourself One Of Those Bladeless Dyson Fans (Kinja Deals)
These Dyson AM06 and AM07 air multipliers are marked down to awesome prices on Amazon today, as long as you don’t mind buying certified refurbs. Yeah, they’re more expensive than your average fan, but they look so gorgeous that you’ll actually want to show them off, and they come with features like a sleep timer, 10 airflow settings, and a magnetic remote that can stick to the fan’s base when not in use.
How to Make Sure You Never Get Locked Out of Your Facebook Account (Field Guide)
Whether someone’s stolen your credentials or you really can’t remember your password, if you’re ever locked out of your Facebook account, there are a number of routes you can take to get back in.
Apple and Spotify start streaming unofficial mixes (Engadget)
Earlier this year, both Spotify and Apple inked deals with Dubset for unofficial mixes, one of SoundCloud's most popular services. As Techcrunch reports, the first of those is now streaming, a DJ Jazzy Jeff Jeff remix from Anderson .Paak. Dubset's MixBANK system automatically scans samples to find original copyrighted materials, and pays artists, labels and publishers where appropriate.
Health and Biotech
In Case You Missed It: The First Dengue Vaccine Becomes Available, the World Drone Racing Championships Converge on Hawaii—and More! (Scientific American)
The Philippines became the first country to make a dengue vaccine commercially available. The dengue fever virus infects 390 million people every year, mostly in Asia. Several Latin American countries are also now in various stages of rollout.
New drugs are helping children with a fatal muscle disease walk again (Science Alert)
Spinal muscular atrophy (SMA) is a very rare genetic disorder that often leads to early death in young patients, but a new experimental drug has produced some incredible results in a recent trial – it's even enabled several children with the disease to walk again.
Life on the Home Planet
Our closest Earthlike planet appears to be "covered" in water (Science Alert)
Back in August, astronomers announced the discovery of what appears to be an Earthlike exoplanet orbiting Proxima Centauri – a red dwarf star in our closest neighbouring star system, Alpha Centauri.
Hurricane Matthew batters Florida as Haiti death toll rises (Reuters)
The first major hurricane threatening a direct hit on the United States in more than 10 years lashed Florida on Friday with heavy rains and winds after killing at least 339 people in Haiti on its destructive march north through the Caribbean.
Assad offers rebels amnesty if they surrender Aleppo (Reuters)
Rebels holed up in Aleppo can leave with their families if they lay down their arms, President Bashar al-Assad said on Thursday, vowing to press on with the assault on Syria's largest city and recapture full control of the country.
A 60-million-year old mystery about a massive missing chunk of the Asian and Eurasian continents has been solved (Business Insider)
Eurasia and India are half the size they once were, according to new research, which may also help solve a long-standing mystery about where all that missing land ended up.
Special Report: In Duterte's war on drugs, local residents help draw up hit lists (Reuters)
There are two versions of how Manila pedicab driver Neptali Celestino died.
According to Philippines police, he shot at plainclothes officers during a sting operation on Sept. 12, and they returned fire. His family says police burst into their ramshackle home, cornered an unarmed Celestino and shot him in front of his teenage sons.
At least 478 died in Haiti from Hurricane Matthew: officials (Reuters)
The number of people killed by Hurricane Matthew in Haiti rose to at least 478 people on Friday, as information trickled in from remote areas previously cut off by the storm, officials said.
In Lebanon, getting Syrian children in school a huge task (Reuters)
Twelve-year-old Abdulrahman has not set foot in a classroom for nearly three years. Instead of going to school, he works at the grocer's downstairs from 7 a.m. to 9 p.m., packing fruit and vegetables to support his family.
Indian cops bust fake IRS call center that conned thousands of Americans (Mashable Asia)
The fraudsters ran fake call centres and sent threatening voice mail messages telling the U.S. citizens that they owed tax and must respond. Those who fell prey were asked to send out thousands of dollars to "settle" their cases, the police said.
