Financial Markets and Economy
Oil prices edge down on doubts about OPEC-led cuts (Reuters)
Oil prices fell slightly on Wednesday amid investor doubts that OPEC will agree to a production cut large enough to make a significant dent in the global glut of crude as U.S. drilling rises.
Fed Minutes Will Offer Some Insight Despite Major Shifts (The Wall Street Journal)
Federal Reserve officials left their benchmark short-term interest rate unchanged at their meeting Nov. 1-2, but said the case for an increase had “continued to strengthen.” This suggested they could raise the federal-funds rate before year’s end.
Dollar Rises to Decade High on Fed Bets as Bonds Slip With Gold (Bloomberg)
The dollar rallied to the highest level in more than 10 years, while bonds tumbled after minutes of the Federal Reserve’s last meeting and economic data added to the case for higher interest rates. U.S. stock benchmarks extended gains at record highs.
Department Stores Lure Black Friday Shoppers With $19.99 Women’s Boots (The Wall Street Journal)
Department stores have found an alternative to the low-price TVs sold by electronic chains to draw crowds over the Thanksgiving weekend: a $19.99 pair of women’s boots.
North Sea Oil Glut to Get Short-Term Relief as Flows Go East (Bloomberg)
A glut of North Sea oil that’s helped depress global prices and heap pressure on OPEC is poised for short-term relief after traders booked tankers to take as much as half of the region’s key oil flow to Asia.
U.S. retailers push deals early as Black Friday loses focus (Reuters)
With sales on Black Friday slipping, U.S. retailers are offering pre-Thanksgiving deals even earlier than in recent years to draw shoppers as the day after no longer marks a spending peak at brick-and-mortar chains.
Automakers seek to cut inventories with Black Friday, holiday promotions (Reuters)
Automakers in the United States are ramping up holiday sales promotions ahead of Black Friday, aiming to clear out bulging inventories of unsold cars and dispel investor doubts about consumer demand.
Credit Suisse’s Old Boss, Brady Dougan, Is Getting Back in the Game (The Wall Street Journal)
Former Credit Suisse Group AG Chief Executive Brady Dougan plans to launch a merchant bank in early 2017 and has lined up a $3 billion investment to seed the venture, according to people familiar with the matter.
Wall Street’s Youngest Workers Aren’t Worried Robots Will Replace Them (Bloomberg)
As growing legions of graying Wall Streeters worry that technology is about to make them obsolete, the industry’s most junior staffers are almost unanimously expecting brighter days, according to an Options Group survey.
Tips For Trading During The Holiday Season (Forbes)
Trading during the holiday season requires both nerves of steel and unique insights into consumer behavior. Here’s how we suggest you approach this high-opportunity time of year.
Companies
Xerox Overcharged Student Debtors, State Prosecutor Says (Bloomberg)
Xerox Corp. has agreed to pay $2.4 million to settle Massachusetts state prosecutors’ accusations that the company mistreated student debtors in violation of state law banning unfair and deceptive practices, Attorney General Maura Healey said.
Walmart Truck Drivers Have Been Awarded $55 Million in Backpay (Reuters)
A California federal jury on Wednesday handed down a $55 million verdict against Walmart WMT 1.01% Stores Inc for failing to pay about 850 of its truck drivers all of the compensation to which they were entitled.
Amazon Delivery Pilots Ordered to End Strike for Retail Peak (Bloomberg)
Pilots for the Air Transport Services Group Inc. unit that hauls packages for Amazon.com Inc. and DHL Worldwide Express were ordered back to work by a federal judge, halting a strike that threatened to disrupt holiday deliveries.
Technology
People keep watching a video that crashes their iPhone – here's how to fix it (Science Alert)
We all know we should be careful when clicking on random internet links, but a video bug that crashes iPhones and iPads and makes them temporarily unusable seems to be getting the best of lots of us right now.
Facebook’s Fake News Crackdown: It’s Complicated (Bloomberg)
Last week, a story claiming that Ford Motor Co. was moving truck production from Mexico to Ohio went viral on Facebook. “The Trump Effect: It’s Happening Already!!” the Facebook user Right Wing News wrote. That story was actually based on a CNN report from 2015, before Donald Trump was even the Republican nominee for president.
Twitter Pays Noto Millions More to Take on New Operating Role (Bloomberg)
Twitter Inc. is giving Chief Financial Officer Anthony Noto a hefty raise in return for taking on greater responsibilities at the struggling social media company.
How Apple Lost China to Two Unknown Local Smartphone Makers (Bloomberg)
Two years ago, Oppo and Vivo couldn’t crack the top five in China’s smartphone market. Now they outrank everyone after elbowing Apple aside, thanks to people like Cheng Xiaoning.
Parrot drone deals for Black Friday have landed (CNet)
Maybe it's a sign of a more mature market, but there are some pretty good drone deals for Black Friday this year. The best I've seen is for the DJI Phantom 3 Standard for $370 in store at Walmart. But if you'd rather shop from your sofa, Parrot has a handful of deals worth considering.
This Stick-On Sweat Monitor Knows When You Need A Drink (Popular Science)
Current fitness trackers can tell you how many steps you've taken or whether you've met your target heart rate. But a new sweat monitor in development could keep track of whether you need to hydrate and replenish your electrolytes.
Twitter Says It Will Take A Swift Action Against Developers Caught Using Surveillance Tools (Digital Trends)
Twitter has issued a statement claiming it is expanding its enforcement of its policies violating developers from using its data to spy on its users, and from providing user information to law enforcement agencies.
Lenovo Phab 2 Pro review: Stumbling out of the gate (Engadget)
just spent 15 minutes wandering around the office, trying to shoot ghouls in the face with lightning. Before that, I dropped a virtual rococo sofa into the empty space next to my desk, just to see if it would fit.
Samsung moves past Note7 crisis, but its SDI battery affiliate struggles (Reuters)
(Reuters) — In the shadows of Samsung Electronics’ Note7 smartphone crisis, affiliate Samsung SDI is quietly reassuring anxious clients including Apple Inc that its batteries are safe.
Hackers Were Stealing Credit Card Data From Madison Square Garden for Almost a Year (Gizmodo)
The Madison Square Garden Company just disclosed that someone had access to its payment processing system for almost a year. That means all data included on the magnetic stripe of your credit card—like credit card numbers, cardholder names, expiration dates, and internal verification codes—could have been stolen.
Politics
Trump Is Our President-elect: It’s Time For Action! (The Huffington Post)
Trump’s platform is fear-inducing, especially for those with non-dominant identities in this country (for example, people other than cisgendered, heterosexual white males).
Trump keeping 'open mind' on pulling out of climate accord (Reuters)
U.S. President-elect Donald Trump said on Tuesday he was keeping an open mind on whether to pull out of a landmark international accord to fight climate change, in a softening of his stance toward global warming.
Donald Trump Raises Prospect of Keeping Ties to His Firms (The Wall Street Journal)
Donald Trump indicated Tuesday he was unlikely to disentangle himself from his business empire as fully as he previously suggested, raising questions about potential conflicts of interest while president.
Trump reportedly attended only 2 of his daily intelligence briefings since the election (Business Inisder)
President-elect Donald Trump reportedly turned away the intelligence officials responsible for getting him up to speed on US national security concerns and world affairs, The Washington Post reported on Wednesday night.
Obama's not-so-secret admirer: Donald Trump (Reuters)
President Barack Obama has a new fan: Donald Trump.
After lambasting Obama for months as a failed leader unfit to be president, the Republican president-elect found kinder words on Tuesday for the man he will succeed in the White House on Jan. 20.
Donald Trump's Stance On Iran Nuclear Deal Sparks Worries Among Iranian Americans (Newsweek)
Many Americans are watching President-elect Donald Trump’s every move with anxiety, waiting to see whether he moves to implement the policies he campaigned for or backs down on some of his promises. One main point of concern is the Iran nuclear deal.
Everyone breathe. There's little chance the election was hacked (CNet)
You may have heard that cybersecurity experts are calling for a recount of votes in the US presidential election in three key swing states. Jill Stein, the Green Party's candidate, has even said she'll request the recounts in Wisconsin, Michigan and Pennsylvania if she can raise enough money.
House GOP Prepares To Gut Obama Legacy On Immigration, Overtime (Talking Points Memo)
House Republicans are preparing to gut Obamacare, but they also eyeing other ways to cut further into Obama's legacy.
Trump's Infrastructure Plan Could Be A Giant Sports Welfare Giveaway (Vice Sports)
Of the many, many strong feelings people have about the looming Trump administration, few are related to potential infrastructure policy. In fact, the president-elect's position on the matter—as he inimitably declared in his acceptance speech, "We're going to rebuild our infrastructure, which will become, by the way, second to none"—was probably the closest thing to a broad-based appeal that he has managed to make. Nobody of any political persuasion likes it when bridges fall down.
Health and Biotech
Eli Lilly’s Alzheimer’s drug fails in late-stage trial, dashing hopes (Stat News)
An investigational Alzheimer’s treatment from Eli Lilly failed to slow the progression of the memory-destroying disease in a late-stage trial, marking another setback in a field that has long bedeviled the drug industry.
Mouse lifespan, heart health extended by common chemical (ArsTechnica)
Spermidine is a chemical that's normally found in living tissues, where it influences a variety of biological processes. While it was recognized as important for these processes, it wasn’t necessarily considered especially interesting, since it was primarily known as a precursor to other chemicals.
Life on the Home Planet
Iran warns of retaliation if U.S. breaches nuclear deal (Reuters)
Extending U.S. sanctions on Iran for 10 years would breach the Iranian nuclear agreement, Iran Supreme Leader Ayatollah Khamenei said on Wednesday, warning that Tehran would retaliate if the sanctions are approved.
Navigation system failure cited in crash of European Mars lander (Reuters)
Europe's Schiaparelli Mars lander crashed last month after a sensor failure caused it to cast away its parachute and turn off braking thrusters more than two miles (3.7 km) above the surface of the planet, as if it had already landed, a report released on Wednesday said.
U.S. airports ease Thanksgiving rush with friendly dogs (Reuters)
U.S. airports trotted out friendly companion dogs to calm jittery travelers and offered perks including free parking on Wednesday as throngs of people rushed toward their Thanksgiving holiday celebrations.
