Financial Markets and Economy
Oil Set for Weekly Gain After OPEC’s Informal Talks With Russia (Bloomberg)
Oil recouped losses to head for a weekly gain after OPEC member Algeria said the organization’s meeting with Russia gave it confidence a deal can be reached to re-balance global markets.
Deutsche Bank considers witholding bonus payouts to former CEOs (Business Insider)
Deutsche Bank is considering witholding bonuses to former executives, including ex-Chief Executives Anshu Jain and Josef Ackermann, to compensate for the lender's poor financial performance.
Asian Stocks Drop as Fed Hike Nears; Nikkei 225 in Bull Market (Bloomberg)
Asian stocks fell, with the regional gauge heading for a fourth weekly decline, after Federal Reserve Chair Janet Yellen signaled the U.S. central bank is close to raising interest rates.
Brexit Bulletin: Cooler Heads in the City (Bloomberg)
Executives at global banks are gaining confidence that Prime Minister Theresa May will secure a lengthy transition period that would carry them over from the current rules to whatever fresh terms of trade are agreed upon with the European Union, according to two people with knowledge of their firm’s contingency plans.
Investors Doubting Turkish Central Bank Action Worsen Lira Slide (Bloomberg)
The widespread assumption that Turkey’s central bank won’t raise interest rates is piling pressure on the currency, exposing the lira to a speculative attack as a global rout across emerging markets deepens.
Dollar hits 14-year high (Business Insider)
The dollar has had a strong week.
Although the US dollar index is little changed at 100.98 at 7:24 a.m. ET, the index is hovering around 14-year highs. The currency has gained on the yen four days this week, and four last week, while the euro has seen a record losing streak.
Here are Goldman’s 2017 forecasts for stocks, oil and more — in one chart (Market Watch)
This year has been particularly bad for many in the predictions business, but that isn’t stopping market forecasters from doing their thing.
My Evidence-Based Observations (A Wealth Of Common Sense)
We had our first ever Evidence-Based Investing Conference with IMN in New York City yesterday. It was a packed house, we had an unbelievable line-up of speakers and it looked like everyone had a good time.
Here's Why the Stock Market Loves Donald Trump (Fortune)
The stock market’s post-election euphoria moderated this week but the trend is clear: Wall Street views Donald Trump’s victory as being inflationary, which has given stocks and the dollar a boost while sending Treasuries to the woodshed.
Companies
Gap Underwhelms Investors With In-Line Third-Quarter Profit (Bloomberg)
Gap Inc., attempting a turnaround after a long sales slump, posted in-line earnings and didn’t boost its forecast, disappointing investors looking for a faster comeback.
Is Amazon going after Trump with its new ad? (CNN News)
A priest and an imam are sitting down for tea.
It's not the beginning of a joke. It's Amazon's newest ad, and it serves up a healthy dose of anti-Trump messaging.
How Micromax took the fight to Apple and Samsung (CNN Money)
Every so often, Rahul Sharma goes to a cellphone store and acts as a salesman. It isn't something he needs to do, but it's helped him build Micromax into one of the world's biggest smartphone manufacturers.
Sky Will Let Some Sports Rights Go in Shift to Entertainment (Bloomberg)
Sky Plc, the dominant European pay-TV provider that built its franchise on sports, is becoming more selective about what broadcast rights it seeks as the company focuses more on entertainment.
Emirates Says Rolls-Royce’s A380 Engines Not Up to Standard (Bloomberg)
Emirates, the world’s biggest long-haul airline, said it’s unhappy with performance shortfalls afflicting $6.1 billion’s worth of Rolls-Royce Holdings Plc engines ordered to power a batch of 50 Airbus Group SE A380 superjumbos.
Amazon.com’s Marketplace Concept Spreads to Other Retailers (The Wall Street Journal)
Crate & Barrel, taking a page from Amazon.com Inc., is partnering with outside sellers to boost the number of items available to shoppers on its website.
Shareholders approve Tesla acquisition of SolarCity (Tech Crunch)
Tesla and SolarCity leapt an important hurdle Thursday: getting shareholder sign off for the proposed acquisition of the latter by the former. Respective shareholder votes at both companies signaled a green light for Tesla’s plan to take over the solar energy technology provider, which Elon Musk first proposed in June.
VW Said to Cut 30,000 Jobs, Save $3.9 Billion in Labor Pact (Bloomberg)
Volkswagen AG reached a landmark agreement with workers to cut as many as 30,000 jobs globally and save 3.7 billion euros ($3.9 billion) in expenses as the company tries to claw back from the emissions-cheating scandal and invest in electric vehicles.
Here's How Much It Will Cost You for Apple to Fix iPhone 'Touch Disease' (Fortune)
Apple on Thursday published a Support page on its site that says it’ll offer a “multitouch repair program for iPhone 6 Plus.” The support document says Apple will repair any iPhone 6 Plus owner’s device if they’re seeing the smartphone “exhibit display flickering or multi-touch issues.”
Technology
Microsoft's Surface Studio proves desktops can still be cool (Engadget)
The most interesting computer released this year isn't an ultrathin laptop. It's a desktop made by Microsoft. Seriously. The Surface Studio is Microsoft's bigger and bolder follow-up to its Surface hybrid laptops.
Mozilla updates Firefox Focus for iOS with a stripped-down private browser (Venture Beat)
Mozilla today launched a new browser for iOS. In addition to Firefox, the company now also offers Firefox Focus, a browser dedicated to user privacy that by default blocks many web trackers, including analytics, social, and advertising. You can download the new app now from Apple’s App Store.
Politics
Trump spent longer on the phone with Piers Morgan than he did with Theresa May (Business Insider)
Donald Trump spent just ten minutes on the phone with Theresa May during their first phone call since his shock election victory — five minutes less than he spent talking to British TV personality Piers Morgan on Thursday.
Donald Trump's Angriest Supporters Prepare For A Big Let Down (Cartoon Of The Day, Forbes)
After stoking fear and resentment, all the way to the ultimate Bully Pulpit, Trump’s victory speech let the cat out of the bag: it was all a ruse. He was just funnin’ about the misogyny and the scapegoats; he’s actually going to bring us all together and heal a divided nation. His supporters must be devastated.
Obama administration prepares to hand student debt challenge to Trump (Market Watch)
Obama administration officials defended their legacy on student debt and higher education Thursday as they prepare to hand over their portfolio of policies to a new administration that some are speculating won’t continue that work.
'First line of defense': Democratic states vow to fight Trump in court (Reuters)
Democratic attorneys general in at least five U.S. states have vowed to fight President-elect Donald Trump in the courts if he rolls back Obama-era regulations or adopts policies they view as infringing upon civil liberties.
Trump selects candidates for CIA, attorney general: transition (Reuters)
U.S. President-elect Donald Trump has tapped three conservative loyalists and Army veterans to lead his national security and law enforcement teams, including Senator Jeff Sessions for attorney general and Representative Mike Pompeo as CIA director, a transition official said on Friday.
Women’s rights groups brace for Trump: ‘We are used to fighting impossible odds’ (The Guardian)
Women and advocacy groups are preparing for the most serious assault on reproductive rights in decades after Hillary Clinton, the first female nominee of a major party, lost the presidential election to Donald Trump.
Health and Biotech
Stopping brain protein from turning rogue prevents Alzheimer’s (New Scientist)
Alzheimer’s disease can be prevented by stopping a crucial brain protein from turning rogue, a study in mice suggests.
The surgeon general just issued a report calling addiction what it is – a brain disease (Science Alert)
Nearly 21 million Americans were directly affected by drug or alcohol addiction last year – roughly the same amount of Americans who have diabetes, according to a new report from US Surgeon General Vivek Murthy on addiction.
Life on the Home Planet
Bleached corals in the Pacific have started bouncing back (New Scientist)
In a ghost town of dead coral off a remote Pacific island, scientists have found a little more life.
In excursions a year ago and then last April, scientists examined the normally-stunning coral reefs around the island of Kiritimati and pronounced it mostly a boneyard of dead coral.
Dinosaur-killing asteroid turned planet Earth inside-out (New Scientist)
Earth-shattering, deadly asteroid strikes might also create safe harbour for life. An expedition to the Chicxulub crater has drawn a new timeline of how the cataclysmic impact that probably killed the dinosaurs happened – and how it may have carved out new niches in which life could flourish, even in the face of utter destruction.
Terminally Ill Teen Wins Battle to Be Cryogenically Preserved (Gizmodo)
A terminally ill 14-year-old girl had her dying wish come true when a British high court approved her request to be preserved at a cryonics facility in the United States. It’s the first case of its kind, setting an important precedent for the future.
Battle for Aleppo escalates, U.N. sees 'bleak moment' (Reuters)
Syrian rebels fought fiercely with pro-government forces as they tried to advance into opposition-held areas of eastern Aleppo on Friday and warplanes kept up their bombardment of the area in a renewed bid by Damascus to retake the entire city.
