Financial Markets and Economy
Oil Rises as OPEC Delegate Says Everyone ‘On Board’ for a Deal (Bloomberg)
Oil rose a third day on signs OPEC members have made progress toward completing a deal to cut output.
What an OPEC Output Deal Could Mean for Oil Prices (Bloomberg)
UBS Wealth Management's Dominic Schnider discusses the possibility that OPEC members will agree to supply cuts next week and how that may impact oil prices. He speaks with Bloomberg's Yvonne Man and Betty Liu on "Bloomberg Daybreak: Asia."
How Long Will the Trump Bump in Stocks Last? (Bloomberg)
Bruce McCain, chief investment strategist at KeyBank, discusses the outlook for U.S. stocks and Fed policy with Bloomberg’s Betty Liu and Yvonne Man on "Bloomberg Daybreak: Asia."
India's Misguided War on Cash (Bloomberg)
India is conducting a big test of the idea that getting rid of cash can help address crime and corruption. Unfortunately, it might achieve nothing more than a lot of inconvenience.
Why Dark Days Are Ahead for China's Bond Market (Bloomberg)
Accelerating inflation, a weakening yuan and a cash crunch look set to deliver a triple blow to China’s bond market. Bloomberg's Stephen Engle has more on "Bloomberg Daybreak: Asia."
PBOC Boosts Yuan Fixing After 12-Day Drop to Weakest Since 2008 (Bloomberg)
China’s central bank raised its yuan fixing for the first time in 13 days as the dollar’s ascent eased, reinforcing speculation that policy makers are prepared to step up measures to slow the currency’s declines.
Goldman: How Corporations Will Spend Their Huge Piles of Overseas Cash (Bloomberg)
Companies in the S&P 500 Index will spend most of their sizable cash hoard buying back stock next year, analysts at Goldman Sachs Group Inc. write in a new note. If so, it would be only the second time in the past 20 years that buybacks have accounted for the largest share of cash usage.
IRC Chairman: There's a Floor for Iron Ore at $60 a Ton (Bloomberg)
Jay Hambro, IRC chairman, discusses iron ore production and prices with Bloomberg's Rishaad Salamat on "Bloomberg Markets."
Cyber Monday to Break Spending Records (Bloomberg)
PwC US retail and consumer leader Steve Barr and Techonomy chief executive officer David Kirkpatrick cyber Monday expectations with Bloomberg's Emily Chang on "Bloomberg Technology."
Oil Speculation Rule Gets Final CFTC Push Before Trump Takeover (Bloomberg)
cTimothy Massad, the top U.S. derivatives regulator, is trying to push ahead before President-elect Donald Trump takes office with controversial rules that clamp down on traders’ ability to speculate in oil and other commodities, according to people familiar with the matter.
What to Watch for in OPEC's Meeting Next Week (Bloomberg)
Bloomberg's Anthony Dipaola discusses the outlook for oil prices and OPEC's Nov. 30 meeting to finalize the supply deal they agreed to informally in September. He speaks with Bloomberg's Tracy Alloway and Haidi Lun on "Bloomberg Markets Middle East."
OPEC Math Misses the Point (Bloomberg)
Saudi Arabia’s energy minister Khalid Al-Falih said Thursday he's "optimistic" that the agreement OPEC reached in September to limit supply will be implemented, with individual output ceilings for member countries. But don't mistake him for a pushover.
Putin Optimistic About OPEC Deal, Russia Is Ready to Freeze (Bloomberg)
Russian President Vladimir Putin said he sees no obstacles to an OPEC agreement this month after oil exporters made major progress in overcoming differences as he reaffirmed Russia is willing to freeze crude output at current levels.
The Risky Oil ETF That Millennials Loved Is Getting Delisted (Bloomberg)
Earlier this year, research from online brokerage TD Ameritrade Holding Corp. showed that a particularly risky ETF was attracting investors from the millennial demographic far more than other age groups. Yesterday, Credit Suisse AG announced its intent to delist and suspend further issuance of that very ETF.
Are Global Stocks Overdue for a Correction? (Bloomberg)
Norman Chan, Oreana Private Wealth chief investment officer, discusses the impact of Donald Trump's election on global markets. He speaks with Bloomberg's Haidi Lun and Shery Ahn on "Asia Edge."
$100 Billion Chinese-Made City Near Singapore 'Scares the Hell Out of Everybody' (Bloomberg)
The landscaped lawns and flowering shrubs of Country Garden Holdings Co.’s huge property showroom in southern Malaysia end abruptly at a small wire fence. Beyond, a desert of dirt stretches into the distance, filled with cranes and piling towers that the Chinese developer is using to build a $100 billion city in the sea.
Christie's Targets Asian Billionaires (Bloomberg)
Bloomberg's Katya Kazakina reports on the results of Christie’s Impressionist and modern art evening sale held last week. She speaks with Bloomberg's Yvonne Man and Betty Liu on "Bloomberg Daybreak: Asia."
Goldman Says Scope for OPEC Deal Makes Oil Short-Term Buy (Bloomberg)
Goldman Sachs Group Inc. raised its oil-price forecast for early next year, while Russia, Iran and Iraq separately signaled optimism that producer nations will be able to reach a deal to limit output at OPEC’s next meeting on Nov. 30.
Thailand’s Growth Weakens as Investment Lags, Global Risks Mount (Bloomberg)
Thailand’s economy grew at a slower pace last quarter as private investment weakened, putting pressure on the government to boost spending to help shield the economy from rising global risks and political uncertainty following the death of King Bhumibol Adulyadej.
Companies
Tesla Shock Means Global Gasoline Demand Has All But Peaked (Bloomberg)
The International Energy Agency forecasts that global gasoline consumption has all but peaked as more efficient cars and the advent of electric vehicles from new players such as Tesla Motors Inc. halt demand growth in the next 25 years.
Technology
Amazon Vs. Netflix: The Movie (Bloomberg)
Amazon wants to unseat Netflix, the reigning champ of streaming video. And it's taking Prime Video global to do so. The two TV and movie services have been duking it out over customers and original content for years, but Amazon's new expansion raises the stakes.
Facebook is testing public WiFi finder on mobile (Engadget)
Facebook has started testing a feature that will help you find the nearest public WiFi networks you can access for free. TheNextWeb has spotted the experimental feature in the iOS app, where chosen users can toggle on "Find WiFi" in their menus.
Global internet use is growing, but not everywhere (CNet)
A mobile phone for every person on Earth? Well, not quite. But according to an International Telecommunication Union report released today, there are as many mobile phone subscriptions as there are people living on the planet.
Tesla runs an entire island on solar power (Engadget)
Now that Tesla has officially acquired SolarCity, it's not wasting any time showing what the combined entity can do. Tesla has revealed that it's running the island of Ta'u (in American Samoa) on a solar energy microgrid that, at 1.4 megawatts, can cover "nearly 100 percent" of electrical needs.
UK insurers detail the data they'll want from driverless cars (Engadget)
As car makers outfit their vehicles with more autonomous features, insurance providers are carefully weighing up how to cover owners of driverless cars while figuring out exactly who should be liable in an accident.
Microsoft CEO laughs at Apple for making iPad Pro like Surface (CNet)
In an interview with the Australian Financial Review, Nadella mused on the increasing success of the Surface.
Volkswagen will begin making electric cars in North America in 2021 (Tech Crunch)
Volkswagen’s EV plans include manufacturing in North America starting in 2021, according to the company. The new production expansion is part of VW’s goal to ramp up to sales of 1 million electric vehicles globally by 2025, as electric becomes “the strategic core of the VW brand,” according to Volkswagen brand lead Herbert Diess speaking to Automotive News.
Politics
Democratic presidential electors revolt against Trump (Politico)
At least a half-dozen Democratic electors have signed onto an attempt to block Donald Trump from winning an Electoral College majority, an effort designed not only to deny Trump the presidency but also to undermine the legitimacy of the institution.
Donald Trump Cancels Meeting With The New York Times (The Huffington Post)
President-elect Donald Trump canceled a meeting with The New York Times Tuesday because it changed the terms “at the last minute,” a claim the paper disputes.
Donald Trump Backs Away From His Threat To Throw Hillary Clinton In Jail (The Huffington Post)
After running a campaign that had, as one of its main rallying cries, a chant to lock up the opposition candidate, President-Elect Donald Trump has pledged to avoid doing just that.
Donald Trump Recommends Ukip's Nigel Farage As British Ambassador to U.S. (Newsweek)
President-elect Donald Trump believes that UKIP leader and staunch Brexiteer Nigel Farage would do a “great job” as ambassador to the U.S. for Britain.
Trump’s Lack of Transparency Again Exposed by the Routine Openness of a Foreign Leader (The Intercept)
Donald Trump’s daughter Ivanka, who will soon be running his global business empire, took part in her father’s first official discussion with the president of Argentina last week, according the Argentine leader.
Health and Biotech
A mysterious structure occupies up to 47% of every chromosome, study finds (Science Alert)
In high school, we’re taught that in the nucleus of every cell, DNA molecules are tightly packed around proteins called histones to form our chromosomes.
GM mosquitoes approved for field trial release in Florida (New Scientist)
Ready or not, here they come. On 19 November, the Florida Keys Mosquito Control District gave the green light to a controversial plan to test genetically engineered male mosquitoes.
Life on the Home Planet
No Major Damage From Japan Quake (Bloomberg)
A magnitude 7.3 earthquake struck Japan off the coast of Fukushima, home to the nuclear power plant badly damaged in the March 2011 triple disaster, triggering a tsunami and briefly knocking offline a cooling system for spent nuclear fuel. Bloomberg's Rosalind Chin has the latest developments on "Asia Edge."
Affluenza Anonymous: Rehab for the Young, Rich, and Addicted (Bloomberg)
It’s easy to sneer, but maybe there’s something to the premise that wealthy kids have a particular set of mental health and addiction problems.
Dispute Over $127.5 Million Leonardo Painting Draws in Sotheby’s (Bloomberg)
Sotheby’s joined the long-running dispute over a Leonardo da Vinci painting that has pitted Russian billionaire Dmitry Rybolovlev against a Swiss businessman who operates the biggest art storage facilities around the world.
The Planned $100 Billion Mega City in Southern Malaysia (Bloomberg)
The landscaped lawns and flowering shrubs of Country Garden Holdings Co.’s huge property showroom in southern Malaysia end abruptly at a small wire fence. Beyond, a desert of dirt stretches into the distance, filled with cranes and piling towers that the Chinese developer is using to build a $100 billion city in the sea.
New estimates suggest the 'big one' in San Andreas could be much worse than we thought (Science Alert)
Researchers have forecast a mega-quake running the entirety of the San Andreas fault line in California, and it looks like the effects for those living in the state could be far worse than previously realised.
Week of renewed Aleppo strikes kills 141 in east, 16 in west: Observatory (Reuters)
At least 141 civilians, including 18 children, have been killed in a week of renewed bombardment on the rebel-held eastern half of Aleppo which has devastated its hospitals, the Syrian Observatory for Human Rights said on Tuesday.
U.S. strike destroys bridge, restricts Islamic State in Mosul: official (Reuters)
U.S. forces backing Iraqi troops retaking Mosul from Islamic State carried out an air strike on a bridge spanning the Tigris river, restricting militant movements between western and eastern parts of the city, a U.S. official said on Tuesday.
