Financial Markets and Economy
Oil Climbs as Iran, Iraq Signal Deal Hope Before Vienna Meeting (Bloomberg)
Oil extended gains as Iran signaled optimism OPEC will agree to a supply-cut deal and Iraq said it will offer new proposals to help bolster the group’s unity before members meet next week in Vienna.
European Stocks Dropping for Second Day Set to Erase Trump Rally (Bloomberg)
The Stoxx Europe 600 Index fell 0.6 percent at 9:47 a.m. in London, set to erase the jump that lifted shares after Donald Trump’s win triggered speculation of increased infrastructure spending. Investors are turning their focus to the political risks ahead for the region, while the recent rise in government-bond yields is making equities less attractive, according to Peter Dixon, an economist at Commerzbank AG in London.
Chinese Stocks Rise as Insurers, Construction Companies Advance (Bloomberg)
Chinese stocks rose in Hong Kong and Shanghai as insurers gained with construction firms amid speculation the outlook for earnings is improving.
The Hang Seng China Enterprises Index rose 1 percent at the close, while the Shanghai Composite Index advanced to a 10-month high.
Nigerian Economy Contracts 2.2% in Third Quarter From Year Ago (Bloomberg)
Gross domestic product in Africa’s most populous country contracted by 2.2 percent in the three months through September from a year earlier, after shrinking 2.1 percent in the second quarter, the Abuja-based National Bureau of Statistics said in an e-mailed statement Monday.
In Bond Traders’ Trump Nightmare, Some Big Winners Emerge (Bloomberg)
In the wake of Donald Trump’s victory, much has been made about the stunning selloff in the U.S. bond market.
Traders have described it as a bloodbath and a seismic shift. Some have even dubbed it a Trump tantrum, in a nod to the Fed-induced rout of 2013.
Indian Bank Shares Tumble as Cash Revamp Seen Threatening Profit (Bloomberg)
Shares of India’s big state-owned banks fell on the risk that the government’s recall of high-value currency notes will dent their profits.
Dollar win streak pauses after 10 straight sessions (Market Watch)
The dollar briefly hit a fresh multimonth high against the yen during Asian trading hours amid continued expectations for a Federal Reserve interest-rate increase and fiscal stimulus by President-elect Donald Trump.
Nomura Sees 2-Year Yield Rising as Traders Face $26 Billion Sale (Bloomberg)
Investors who buy at Monday’s U.S. two-year note sale risk losing money as the Federal Reserve raises interest rates, according to Nomura Holdings Inc., one of the 23 companies that trade with the central bank.
These 40 stocks are expected to benefit from an all-Republican Washington (Market Watch)
There is chatter about the stock market’s post-election rally looking overdone — but also additional bullish buzz about the new state of affairs.
RBC Capital Markets strategists stand with those bracing for more gains.
Stock market on pace to kick off with slight gains in holiday-shortened week (Market Watch)
Stock futures indicated a mostly cautious, but tepidly higher, start for Wall Street on Monday, with a speech from Federal Reserve Vice Chair Stanley Fischer likely to draw attention as investors search for direction in a holiday-shortened week of trading.
Goldman Sachs Says Donald Trump Will Be Terrible for Stocks in 2017 (Fortune)
Even while some Wall Streeters are saying Donald Trump’s presidency could result in stronger domestic growth and a boost to the stock market, a team of Goldman Sachs GS 0.34% analysts led by top strategist Charles Himmelberg are saying, “Not going to happen.”
Africa’s largest economy is nowhere close to getting out of its recession (Quartz)
Nigeria’s first recession in decades is not abating. Data from Nigeria’s National Bureau of Statistics shows the economy contracted again in the third quarter, just has it has in the two preceding quarters.
Oil Wagers Surge To 9 Year Highs As OPEC Decision Looms (Zero Hedge)
In the aftermath of Trump victory and as an OPEC 'deal' decision looms, hedge funds, oil producers, and consumers have placed the largest number of bets on WTI's next move since August 2007.
Companies
HSBC has lost its place at the very top of global banking (Business Insider)
HSBC is no longer one of the two most important banks in the global financial system, and has been replaced by American lender Citi, according to the latest data from the Financial Stability Board.
Facebook to Hire 500 New Staff in Major U.K. Expansion (Bloomberg)
Facebook Inc. is to increase its U.K. headcount by 50 percent, hiring 500 new staff and backing the U.K. capital as an important technology hub.
The social media company is moving to a new London headquarters in 2017, and has plans to up its headcount from 1,000 to 1,500, the company said in a statement Monday.
Why Abercrombie & Fitch Is Pulling Out of Hong Kong (TIME, Fortune)
U.S. clothing brand Abercrombie & Fitch ANF -15.24% will call time on its flagship store in Hong Kong two years before the end of its lease, which expires in 2019.
Wal-Mart unveils plans for early Cyber Monday (Market Watch)
Wal-Mart Stores Inc.is starting its online Cyber Week sales several days early this year, with plans to start Friday at 12:01 a.m. Eastern.
Last year, Cyber Monday kicked off one day early, and well before midnight.
Technology
Shadow Minister for Labour Jack Dromey attacks Uber for its 'disreputable' business model (Business Insider)
LONDON — In late October, a London employment tribunal made a ruling that could affect half a million Brits' employment status.
SILICON VALLEY CEO: People are 'lashing out' because technology is destroying more and more jobs (Business Insider)
The CEO of a $1 billion (£810 million) Silicon Valley software company believes the world is approaching a tech-driven employment crisis, which contributed to Donald Trump’s surprise election victory.
An acquisitive software-security company just made a $2.3 billion deal in another example of the frenzy that's sweeping the tech industry (Business Insider)
The computer-security company Symantec is buying LifeLock, an identity theft-protection company, for $24 per share, or about $2.3 billion.
The deal will create the world's largest consumer "digital safety platform," according to the two companies, and is expected to close next quarter.
Apple offers free battery replacement for iPhone 6S shutdown problem (CNN News)
The tech giant is offering owners of the problematic smartphones free replacement batteries.
"A very small number" of iPhone 6S devices manufactured between September and October 2015 are affected, Apple (AAPL, Tech30) said in a statement Monday. It didn't provide details on the battery fault that is causing the phones to unexpectedly go dark.
The surgeon behind the first human head transplant is using VR to prepare his patient (Science Alert)
In case you haven’t heard the rumblings over the past year or so, Italian neurosurgeon Sergio Canavero is hell-bent on performing the world’s first human head transplant, and says the procedure will take place within the next 12 months.
Startup to Test Self-Driving Cars in Boston (The Wall Street Journal)
The company, financed in part by Ford Motor Co. Executive Chairman Bill Ford’s venture fund, announced on Monday a deal with the city of Boston and state of Massachusetts to test on public roads a Renault Zoe electric car with nuTonomy’s self-driving software.
New Google search tool helps you avoid crowds in real time (CNet)
Think of it like Waze, but for pedestrians. Waze, a Google-owned crowd-sourced traffic app, warns users when there's traffic on certain roads or things to watch out for such as a crashed car or speed radars. But instead of saving you from traffic jams, Google's live-crowd feature helps you dodge packed places, like the swarm that'll surround your mall on Black Friday.
Google opens new AI lab and invests $3.4M in Montreal-based AI research (Tech Crunch)
Google has invested a total of $4.5 million CAD ($3.4M US) in AI research in Montreal’s Institute for Learning Algorithms, with an academic fund covering three years that will help pay for seven faculty members across various Montreal academic institutions, including the University of Montreal and McGill.
Uber now lets you thank drivers for that awesome ride (Venture Beat)
Most of us have experienced exceptional service that brings a smile to our face and leaves us with a great impression. Uber feels the same way and has rolled out “Compliments,” which empowers riders to leave drivers with specific reasons they enjoyed their trip.
Nokia Fan? Those New Phones You're Waiting For May Arrive At Mobile World Congress 2017 (Digital Trends)
Gathering evidence anecdotally suggests Mobile World Congress 2017 will be Nokia’s choice of location for either the launch, or a really detailed look, at the new range of smartphones to wear its name.
Alphabet's autofocusing contact lens won't be tested in 2016 (Engadget)
Bad news if you were hoping that Google's (now Alphabet's) smart contact lenses would be available relatively soon: they're running into some hurdles. Novartis, which is partnering with Alphabet's Verily Life Sciences on an autofocusing lens that addresses farsightedness, says it won't make its goal of testing the technology in 2016.
Politics
Donald Trump Says ‘Incredible People’ Are Joining His Team Soon (AP, TIME)
(NEW YORK) — Call him the dealmaker-elect.
By his own account, President-elect Donald Trump has worked out a few agreements after a parade of weekend visitors who could land major appointments in his administration.
Ken Burns Offers Blistering Takedown Of Donald Trump In Stanford Commencement Speech (The Huffington Post)
Documentary filmmaker Ken Burns spent more than 10 minutes of his Stanford University commencement speech Sunday demolishing everything about presumptive Republican presidential nominee Donald Trump.
More Americans Like Donald Trump Now That He Won (TIME)
American voters have warmed to President-elect Donald Trump in significant numbers following his stunning electoral upset over Hillary Clinton, according to a new poll.
Donald Trump Treasury Choices Likely Narrowed to Two (The Wall Street Journal)
President-elect Donald Trump appears likely to choose between investment banker Steven Mnuchin and Texas Rep. Jeb Hensarling to steer the Treasury Department, though advisers say he is still drawn to the idea of appointing J.P. Morgan Chase & Co. Chief Executive James Dimon.
Donald Trump Says Melania and Barron Won't Move to the White House Till Later (Associated Press, Fortune)
President-elect Donald Trump says he’s moving to the White House soon, but his wife and young son will follow him at the end of the school year.
Trump keeps America in suspense (Politico)
Donald Trump famously declared to keep America “in suspense” about whether he would accept the outcome of the election, injecting the possibility of a reality show plot twist into the presidential race.
Obamacare repeal plan stokes fears of market collapse (Politico)
Republicans warned for years that Obamacare would blow up the nation's individual insurance market. Instead, their own rush to repeal the health care law may be what triggers that death spiral.
Health and Biotech
The Microbes Have Won Again (Scientific American)
Last Friday, November 18, the World Health Organization decided to take the Zika virus off of Public Health Emergency of International Concern (PHEIC) status on the grounds that, as the agency’s Peter Salama told the press, “Zika is here to stay, and the WHO’s response is here to stay.”
Life on the Home Planet
Kabul Mosque Bombing by Suicide Attacker Kills at Least 27 (NY Times)
KABUL, Afghanistan — At least 27 people were killed and dozens wounded when a suicide bomber detonated explosives in a crowded gathering of Shiite Muslims at a mosque in the Afghan capital on Monday, officials said.
India Train Crash Death Toll Hits 142 (Reuters)
Indian rescuers on Monday called off a search of the mangled carriages of a derailed train after pulling more bodies from the wreckage, taking to at least 142 the number of passengers killed in the disaster.
Window to hell: Io’s strongest volcano changes face as we watch (New Scientist)
Volcanoes from Iceland to Turkmenistan have been described as gateways to hell. But nowhere in the solar system is this term more apt than on Io. That innermost moon of Jupiter, we now know, is in an almost constant state of eruption.
Are you affected by Storm Angus and flooding in the UK? (The Guardian)
A series of weather warnings issued across the UK are forcing communities to ready themselves for more possible flooding, with some areas in southwest England already underwater.
Iraq Shi'ite paramilitaries close to cutting Mosul supply route (Reuters)
Iraqi Shi'ite militias were massing troops on Monday to cut remaining supply routes to Mosul, Islamic State's last major stronghold in Iraq, closing in on the road that links the Syrian and Iraqi parts of its self-declared caliphate.
Suicide bomber kills dozens at Shi'ite mosque in Kabul (Reuters)
A suicide bomber killed more than 30 people and wounded dozens on Monday in an explosion at a crowded Shi'ite mosque in the Afghan capital Kabul, officials said, the third major attack on minority Shi'ites in the city since July.
