Financial Markets and Economy
Welcome to the Great Unraveling of the Global Convergence Trade (Bloomberg)
Market participants seeking a framework in which to play the unexpected election of Donald Trump as U.S. president would do worse than to reach into the archives, all the way back to the early 2000s, when investors sought to profit from the expansion of the European Union.
Trump Victory Gives Defense Stocks a Shot (The Wall Street Journal)
Amid the selloff in Asian and European stocks Wednesday, one sector was notably buoyant: defense.
Shares in BAE Systems, the U.K.’s largest arms supplier, and French defense-electronics firm Thales were up 3% in midmorning trading.
Donald Trump's election has Wall Street questioning the future of the Federal Reserve (Business Insider)
As Wall Street grapples with the election of Donald Trump as the next US president, it appears the order of the day is uncertainty.
Donald Trump victory: what British investors bought and sold in the first hours of trading (The Telegraph)
Private investors rushed to log on to their broker accounts in the first hours of Wednesday trading, but those who hoped for bargains on a post-Brexit scale were disappointed. While many took profit on the back of a jump in mining and pharmaceutical stocks, the absence of any widespread collapse in prices meant buying opportunities were limited.
OPEC Has No Reason to Be Happy About a Donald Trump Presidency (Fortune)
OPEC’s job of trying to prop up oil prices has just got much harder.
With Donald Trump winning the U.S. presidential election, the 14-country oil-producing cartel may have to battle a sourer outlook for the global economy and weaker demand for crude.
Mexican peso plunges to all-time low (CNN Money)
The country's currency hit a new record low as votes were being tallied, suffering an 11% drop. By early Wednesday morning, the peso regained some ground but it was still down more than 9%.
Investor panic over 'President Trump' begins to fade (Reuters)
LONDON, Nov 9 (Reuters) – The U.S. dollar, Mexican peso and world stocks fell on Wednesday as Donald Trump swept to victory in the U.S. presidential election, but fears of a Brexit-style shock that wiped trillions off global markets has failed to materialize so far.
'Volumes are monstrous:' Here's a quick guide to what traders are talking about right now (Business Insider)
Dave Lutz, head of Exchange Traded Funds at JonesTrading, has a quick overview of what traders are talking about on Wednesday.
Japan calls emergency meeting due to US vote (Sky News)
The Japanese Finance Ministry, Bank of Japan and the Financial Services Agency have convened an emergency meeting after the US election victory for Republican candidate Donald Trump.
How President Donald Trump will wreck the world economy (Independent)
Hope for the best but prepare for the worst is a good motto in economics, as in much of life. It comes readily to mind when I think of what Donald Trump will do to the world economy.
If we’re lucky, the financial markets will take a Trump victory more or less in their stride.
Trump's Economic Challenge (The Globe And Mail)
The roots of Donald Trump’s shocking upset victory lie in the growing gap between economic expectations and reality.
By many measures, the United States is actually doing fairly well. Eight years after the financial crisis, stocks are trading at lofty heights while unemployment has shrivelled to less than half its Great Recession highs.
Wall Street elite stunned at Trump triumph (Reuters)
From plush penthouse apartments on the Upper East Side to bars in midtown Manhattan, New York’s financial community watched in stunned dismay on Wednesday as Republican Donald Trump clinched the White House.
Trump’s victory sends Trudeau’s energy, climate strategy into disarray (The Globe And Mail)
The stunning victory by Donald Trump in the U.S. election throws into disarray Prime Minister Justin Trudeau’s goal of forging a North American energy and climate strategy.
Companies
Should Target Scrap Its Grocery Business? (Retail Wire)
Back in April of last year, a RetailWire headline asked the question, “Will Target’s new grocery boss get the job done?” Unfortunately for Anne Dament, the person handpicked by Target CEO Brian Cornell to do the job, the answer appears to be “no” as the company announced she is leaving the company less than 18 months into her tenure.
Technology
GoPro drops 7% after recalling 2,500 Karma drones over power issues (Venture Beat)
Publicly traded camera company GoPro today said that it’s recalling the $800 Karma drone that it introduced in September. The move affects around 2,500 units.
Facebook buys black market passwords to keep your account safe (CNet)
For a data-saturated company of its size and scope, Facebook has markedly managed to avoid the kind of security scandals, breaches and hacks that have affected many other major web companies.
Karhoo gave some users over £100 in free taxi rides before it went bust (Business Insider)
Taxi startup Karhoo announced on its website yesterday that it was shutting down after running out of money.
The company, which claimed to be bigger than Uber, reportedly raised $250 million (£201 million) from investors last October, in addition to an undisclosed funding round in January.
Battle of the Bots: How AI Is Taking Over the World of Cybersecurity (Singularity Hub)
Google has built machine learning systems that can create their own cryptographic algorithms — the latest success for AI’s use in cybersecurity. But what are the implications of our digital security increasingly being handed over to intelligent machines?
Samsung thinks foldable phones are the new flip phones (CNet)
The next-generation flip phone could be foldable.
The ambitious plan to help blind people get around (Engadget)
There have been many attempts to help blind people see, but none of them — so far — have managed to make it to mainstream users. It's a trend that Budapest-based startup EVA is hoping to buck with its eponymous product, EVA (Extended Visual Assistant).
Google Home voice control in the connected home is not quite there (Venture Beat)
With the Google Home speaker, released on November 4, there’s even some proof. You can speak to Google and issue commands. Turn off the lights. Play a YouTube video. Add milk to your shopping list so your spouse doesn’t think you’re slacking off again.
Bikeshare conference brings pedal power to the people (Tech Crunch)
As the North American Bikeshare Association begins its annual conference in Austin, Texas, participants will be focusing on social equity. If you’re wondering what that means, wonder no more, thanks to a statement from the NABSA’s project manager, Matt Martin: “Social equity in bikeshare means making a healthy and versatile form of transportation accessible to those who really need it, from students on a budget to mothers in low-income communities.”
Brain Implant Allows Paralyzed Monkey to Walk Again (Gizmodo)
For the first time ever, a neural device has been used to restore locomotion in paralyzed primates. It may be years before clinical trials can begin for humans, but this latest breakthrough marks an important step in that direction.
Politics
Donald Trump wins 2016 presidential election: victory speech, full transcript (Vox)
Against all odds, polls, and projections, Donald Trump claimed victory in the presidential election Tuesday, delivering a speech at the Hilton Hotel in New York City on Tuesday to a cheering crowd of supporters.
Why Trump Won: Working-Class Whites (NY Times)
Donald J. Trump won the presidency by riding an enormous wave of support among white working-class voters.
It was always a possibility, but it had always looked unlikely. Hillary Clinton led in nearly every national poll — and in other surveys in the states worth the requisite 270 electoral votes.
World reacts to a Trump presidency on Twitter (Mashable Asia)
The American people have spoken, electing Donald Trump president. And to say the world is shocked is something of an understatement.
At just after 3:00 a.m. New York time, the Associated Press called the election in Republican candidate Donald Trump's favour, after according to CNN, Hillary Clinton called Trump to congratulate him and concede defeat.
Trump, U.S. Congress will agree on some issues, long-term questions loom (Reuters)
President-elect Donald Trump will have an early Capitol Hill honeymoon with Republican majorities in both chambers of Congress when he takes office in January, but a long-term romance may be more challenging.
Why is the FTSE relatively immune to a Trump victory? (The Telegraph)
A massive sell-off in Britain’s leading share index failed to materialise in the wake of Donald Trump’s victory, with an array of companies across the board jumping higher.
How the polls, including ours, missed Trump's victory (Reuters)
Two days ago, pollsters and statisticians gave Hillary Clinton odds of between 75 and 99 percent of winning the U.S. presidential election. How did so many get it so wrong?
Fractured Republicans come together in face of Trump triumph (Reuters)
One immediate consequence of Donald Trump’s stunning victory in the U.S. presidential race is that the identity crisis that convulsed the Republican Party during his tumultuous candidacy has been resolved.
Health and Biotech
Implants hack reflexes to let paralysed monkeys move their legs (New Scientist)
Some animals have walking reflexes governed by nerves in their spine – it’s why a chicken continues to run after its head has been cut off. Now these reflexes have let paralysed monkeys regain use of their legs after a week or two of practice. Previous methods have taken months.
Life on the Home Planet
Dark energy could force the universe to gradually unzip itself (New Scientist)
The end of the universe is about to get interesting. Most data favours a slow fade into a silent, frozen oblivion. But a new analysis suggests the cosmos could gradually tear itself apart, galaxy from galaxy and atom from atom. Or at least, we can’t rule it out.
Death penalty gains new support from voters in several U.S. states (Reuters)
The death penalty won newfound support on Tuesday as voters in three states approved ballot measures backing capital punishment, although the results are unlikely to have immediate impact on executions amid legal battles and drug shortages.
What Will Trump's Presidency Mean for Our Future in Space? (Gizmodo)
If you woke up today wishing to fling yourself into a black hole, you may be wondering what’s in store for NASA under President-elect Donald Trump. It is difficult to say much with certainty. But overall, the space agency will probably be directed to focus more on deep space activities and crewed spaceflight over the next four years, while its top-notch Earth science programs could suffer serious cuts.
