Financial Markets and Economy
Pound Traders Face New Reality as Rapid Moves Become the Norm (Bloomberg)
It’s been a tumultuous two weeks for the pound, and all indications are that traders will have to get used to the volatility.
The U.K. currency is getting harder to trade, and to predict, because the nation’s exit from the European Union has changed the rules of engagement.
Assad Says Aleppo Assault Is Springboard to Retake Rest of Syria (Bloomberg)
The military offensive against Aleppo will allow the Syrian army to make further advances against the government’s enemies in the rest of the country, President Bashar al-Assad told Russian tabloid Komsomolskaya Pravda in an interview.
U.K. Stocks Rebound From Three-Day Slide as Miners, Tesco Rise (Bloomberg)
British equities rose for the first time in four days, with shares that fell on Thursday regaining ground.
Rio Tinto Group, BHP Billiton Ltd. and Anglo American Plc advanced more than 1.9 percent after data showed China’s factory-gate prices rose for the first time since 2012, easing concerns over slower global growth that sent the miners down on Thursday.
Forget the refiners, oil exploration is where you want to put your money (Market Watch)
After a two-year bear market, it may come as a surprise to investors that the energy sector is currently the top performer year-to-date. And that includes technology as measured by the Technology Select Sector SPDR exchange-traded fund XLK, -0.63%
While other energy companies get put over a barrel, Total S.A. looks ahead (Market Watch)
France began to realize the importance of having a domestically controlled source of oil shortly after the end of World War I. At the same time, other major countries were establishing partnerships and expanding production into the Middle East. France was determined not to be left behind and began operations in modern day Iraq, alongside the British.
Vietnam's Biggest Investor Is Quietly Quitting The Market (Forbes)
A sovereign wealth fund in Vietnam announced this year it would divest from holdings among 120 listed companies. That plan, part of the government’s longer-term scheme to pull out of listed firms, will let the free market take its course instead of taking cues from the Communist state and allow companies involved to operate more efficiently. But the process just might take a while.
FTSE 100 climbs as miners get a boost from Chinese data (Market Watch)
U.K. stocks pushed higher Friday, with most miners buoyed by brighter data from China, but the blue-chip market was tilting toward a loss for the week.
Hedge Fund Woes After U.S. Crackdown Don’t Surprise SEC’s Chair (Bloomberg)
Hedge fund returns have fallen off a cliff since U.S. prosecutors and regulators initiated a sweeping crackdown against insider trading in recent years. Securities and Exchange Commission Chair Mary Jo White is among officials who’ve taken notice.
Treasuries Extend Drop to Second Week Before Sales Data, Yellen (Bloomberg)
Treasuries fell, extending a second weekly decline, as traders waited for clues on the future path of interest rates from a speech from Federal Reserve Chair Janet Yellen later Friday.
European Stocks Rebound as China Data Ease Global Growth Worries (Bloomberg)
European stocks rebounded after three days of declines as better-than-expected Chinese data helped ease investor concerns over global growth and the health of the world’s second-biggest economy.
The pound is suffering (Business Insider)
The pound dipped below $1.22 on Friday morning, with no let up in sight for sterling.
Oil From $50 Billion Kashagan Field Starts Flowing to Export (Bloomberg)
Kashagan, a vast oil field in the Caspian Sea, sent its first crude for export after about 16 years in development and more than $50 billion of investments.
U.S. Retail Sales Rose 0.6% in September (The Wall Street Journal)
WASHINGTON–U.S. retail sales rose at a solid pace in September, rebounding after a modest pullback the prior month and signaling that consumers are set to support stronger economic growth during the second half of the year.
British trader accused of causing 'flash crash' loses extradition appeal attempt (The Guardian)
The British financial trader accused of helping trigger a multibillion-dollar Wall Street crash has lost a legal challenge against a ruling that he can be extradited to the US to stand trial.
Can The Investment Capital You Have Support The Post-Exit Lifestyle You Want? (Forbes)
With those facts as a foundation, I asked a lot of questions. I’m an Exit Planner and that is what we do: ask a lot of wide-ranging questions in order to understand both what assets owners have and what goals they want to accomplish as they transition out of ownership.
Companies
J.P. Morgan’s profit slides but still beats estimates (The Wall Street Journal)
J.P. Morgan Chase & Co. said its third-quarter profit fell 7.6% as the bank continues to grapple with low interest rates and choppy markets that have discouraged some traders and dealmakers.
Citigroup CEO to Meet Irish Prime Minister as Brexit Weighs (Bloomberg)
Citigroup Inc. Chief Executive Officer Michael Corbat is scheduled to meet Irish Prime Minister Enda Kenny next week, as finance executives and politicians grapple with the fallout from Britain’s vote to leave the European Union.
Sears is doubling down on its loyalty program for the holiday season (BI Intelligence)
It's no secret that Sears has fallen behind its peers in e-commerce.
Samsung Pay has added a major bank (BI Intelligence)
USAA Bank will begin supporting Samsung Pay for its customers with a bank-issued Visa debit or credit card, according to USAA.
Xerox’s Largest Individual Shareholder Sues to Block Split of Company (The Wall Street Journal)
Xerox Corp.’s largest individual shareholder, billionaire Darwin Deason, has filed a lawsuit that seeks to block the copier and services giant from splitting itself into two public companies.
Politics
It is 'genuinely possible' that Brexit could take 10 years (Business Insider)
Key Brexiteers in Theresa May's government are totally underestimating how long and difficult negotiating Britain's departure from the European Union will be, according to Labour MP Stephen Kinnock.
Donald Trump suggests if Hillary Clinton falls down in China, Chinese people will 'leave her there' (Business Insider)
Donald Trump revived his attacks on Hillary Clinton's health during a rally Thursday in Cincinnati, Ohio, suggesting again that his Democratic rival doesn't have the strength to serve as president.
'Stay tuned' for evidence backing Trump vs female accusers: Pence (Reuters)
Republican vice presidential candidate Mike Pence vigorously defended running mate Donald Trump against allegations of sexual misconduct and promised evidence casting doubt on the claims would come out on Friday.
The lies Trump told this week: from murder rates to climate change (The Guardian)
Trump has not always treated members of the military and law enforcement with respect. Last year he insulted John McCain, who endured torture as a prisoner of war in Vietnam; this summer he derided the Muslim parents of a soldier who died in the Iraq war; he has called top generals “embarrassing to our country” and said they have been “reduced to rubble”; and he has repeatedly impugned the ethics of federal investigators and even public safety officers such as fire marshals.
White House warns Trump not to attack Michelle Obama (Politico)
In his latest, and perhaps most vehement, campaign tirade, Donald Trump held his fire when it came to first lady Michelle Obama. And the White House on Thursday advised that Trump continue to steer clear of the president's wife, suggesting that an unprecedented attack on the first lady is a surefire way for the GOP nominee's standing to plummet further.
Hillary Clinton, Wannabe Global Dominatrix and Liberal Neocon, Plans more Stupid Wars (The Huffingyon Post)
Never before were the two leading presidential candidates so disliked. Both major parties have nominated candidates that most Americans desperately want to reject.
Technology
Samsung's losses from Note 7 disaster keep mounting (CNN Money)
The South Korean tech giant announced this week it was killing off its flagship Note 7 smartphone. The move came after reports kept emerging of the devices catching fire — even after Samsung (SSNLF) had promised customers that replacement phones it was providing were safe.
Lyft adds mobile web support (BI Intelligence)
Lyft has launched support for the mobile web in an effort to make its car-ride service more accessible.
Make Your Own Hyperlocal Radio Station (Popular Science)
Ever dream of becoming a radio personality? While tinkering with an FM transmitter for MP3 players, engineer Denise Lee realized she could boost its range to turn her music into a radio show.
Playstation VR Can Play 2D Games From XBOX ONE, WII U, And PC (Digital Trends)
It turns out that more than just being a powerful console virtual reality solution, the PlayStation VR might be the most versatile VR headset available. It’s capable of playing a number of solid PlayStation 4 titles in virtual reality, but it can also function in cinema mode with any generic HDMI connection, meaning it works with the Xbox One, Wii U, and Windows-based PCs.
Quadriplegic man feels touch on robotic hand with brain implant (New Scientist)
This could be the most touchy-feely robotic limb yet. For the first time, brain stimulation has made it possible for a paralysed person to experience the sensation of touch via a bionic hand.
You Can Soon Buy That Tiny Scooter That Looks Like a Laptop You Can Ride (Gizmodo)
A Segway you can carry in a laptop bag? That’s what Cocoa Motors promised when it revealed the WalkCar, an ultra-compact personal transport, last year. And finally, after a year of perfecting its design, the WalkCar will be available for pre-order starting on October 21.
Smart sleeve warns you of impending forearm injuries (Engadget)
Wouldn't it be great if you could know that you're about to injure yourself moments before you actually do? A pair of students out of Rice University believe that they've developed a wearable that can do just that. Ziel's M2 Sleeve is a prototype device that's designed for baseball pitchers to monitor the stress on their forearm.
Health and Biotech
Wave of Overdoses with Little-Known Drug Raises Alarm Amid Opioid Crisis (Scientific American)
Veterinarians know this opioid as a powerful elephant sedative. Security hawks know it too, thanks to its apparent use by the Russian government to put down a hostage crisis in 2002 (yes, really). But in the past year more U.S. doctors and paramedics are getting first-hand knowledge about the deadly effects of carfentanil from users who have overdosed on it.
Life on the Home Planet
Militant Attack Kills 12 Egyptian Soldiers in Sinai (AP, TIME)
Suspected Islamic militants attacked an army checkpoint in Egypt’s Sinai Peninsula on Friday, killing 12 soldiers and wounding another eight, according to security and medical officials.
U.S. Enters Yemen War Directly for the First Time With Attack on Houthis (The Intercept)
THE U.S. MILITARY directly attacked Houthi rebels in Yemen for the first time on Wednesday — firing Tomahawk cruise missiles at three rebel-held radar stations on the Red Sea coast. The attack, which was in retaliation for a failed missile attack on a U.S. Navy destroyer on Sunday, risks drawing the U.S. further into the 18-month war.
Deep Space Travel Could Damage Astronauts' Brains (Popular Science)
On a mission to Mars, future astronauts will have to leave the protection of Earth’s magnetic field. As they head into deep space, high-energy galactic cosmic rays will pass through the hull of their ship and into their bodies. This might have dangerous—and lasting—consequences for the astronauts’ health.
Fresh wave of airstrikes hit Aleppo as U.S. eyes new startegy (Associated Press)
Residents of opposition-held eastern Aleppo woke up to a fresh wave of airstrikes Friday amid clashes between government forces and rebels, part of a devastating military campaign by Syria and Russia that opposition activists say killed dozens of people in the past week.
