Financial Markets and Economy
Saudi Arabia Mining Expands as Kingdom Chases Growth Beyond Oil (Bloomberg)
Saudi Arabian Mining Co. plans to double gold production by 2020 and is increasing output of other commodities from aluminum to ammonia as the world’s biggest crude oil exporter seeks to diversify its economy.
Russia to OPEC: Oil Freeze Is All You Get (Bloomberg)
Facing pressure from OPEC to make a significant output reduction, Russia reiterated its readiness to freeze oil production at current levels, arguing that the offer amounted to a cut compared with next year’s plans.
How to Boost the Global Economy? Higher Oil Prices, Goldman Says (Bloomberg)
Pricey crude means economies such as Saudi Arabia take in more money than they can spend, which financial markets help distribute through the rest of the world, boosting asset values and consumer confidence, the bank’s analysts Jeff Currie and Mikhail Sprogis wrote in a Nov. 22 research note.
The European Central Bank just outlined 4 of the biggest risks to financial stability (Business Insider)
The European Central Bank just outlined the four biggest risks to financial stability over the next two years, which are partly triggered by heightened political uncertainty.
Britain is facing an 'extraordinary and dreadful' income crisis (Business Insider)
LONDON — Britain faces a "dreadful" lost decade of real earnings growth unprecedented in the last 70 years, the Institute for Fiscal Studies said on Thursday.
Europe Stock Traders Bet on Calm Even as Currency Swings Rage On (Bloomberg)
The recent surge in volatility in the currency market has done little to disturb the relative calm that European equity investors are betting on.
Wall Street is finding ways to make money off your every move (Business Insider)
Wall Street is finding ways to make money off your every move
Investment firms like hedge funds are big buyers of so-called "alternative data." That's data that comes from the apps we use, the online shops we buy from, and the GPS tracking within our smartphones.
South Africa Keeps Rates Unchanged, Warns of Gathering Risks (Bloomberg)
South Africa’s Reserve Bank left borrowing costs unchanged for a fourth straight meeting even as it warned risks to the rand and inflation may force it to reassess its call that the policy-tightening cycle is near an end.
London Property Prices Falling Faster Than You Think, NAMA Warns (Bloomberg)
U.K. real estate prices may be dropping at a much faster pace than official reports indicate, according to the Irish agency that manages property loans acquired from bailed-out banks.
India's cash crisis could kill its economic boom (CNN Money)
The country overtook China as the world's fastest growing major economy this year, but may fall behind again as the withdrawal of big rupee notes hurts business activity.
Brexit's hit to the British economy will leave an indelible mark on the country, causing a permanent loss of output, and wiping billions off GDP in the next five years, according to research from HSBC after Wednesday's Autumn Statement.
Yuan Trades Near Eight-Year Low as PBOC Weakens Reference Rate (Bloomberg)
The yuan touched an eight-year low as China’s central bank weakened its daily reference rate, stoking speculation policy makers will tolerate further depreciation amid a rally by the dollar.
Stock market’s record November shouldn’t scare off a Santa Claus rally (Market Watch)
Here’s something for stock-market bulls to be thankful for. History indicates that the postelection “Trump rally” that’s sent indexes to a string of records this month doesn’t mean the market has depleted its usual store of year-end strength.
Brexit Delay Bad for Business, Retailer Pets at Home Says (Bloomberg)
Pets at Home Group Plc, the U.K.’s largest pet-supplies retailer, said Thursday that business conditions could be hurt by prolonged uncertainty over the country’s EU exit terms and the continued weakness of sterling.
OECD Sees Window of Opportunity on Stimulus Amid Trump Boost (Bloomberg)
The Organization for Economic Cooperation and Development is urging rich countries’ governments to seize the chance to boost growth through fiscal stimulus before rising interest rates make such moves too costly.
Retailers Push Early Start to Black Friday Sales (The Wall Street Journal)
On Nov. 10, Wal-Mart Stores Inc. offered many holiday promotions online or within its mobile app. J.C. Penney Co. sent its Black Friday advertisements to users of its mobile app on Nov. 4, and started those sales on Wednesday, a day earlier this year than last year and one day ahead of the holiday itself.
Oil prices edge up ahead of OPEC meeting to discuss output cuts (Reuters)
Oil prices were slightly higher on Thursday ahead of next week's meeting of the Organization of the Petroleum Exporting Countries (OPEC) to discuss implementation of its proposed cap on production.
Companies
Lufthansa’s CEO Says It Must Defeat Pilot Strike to Survive (Bloomberg)
Deutsche Lufthansa AG Chief Executive Officer Carsten Spohr said Europe’s third-largest airline must hold its nerve and face down striking pilots if it’s to deliver meaningful savings and survive as a force in aviation.
Wal-Mart hopes to lure Black Friday shoppers with luxury goods (The Wall Street Journal)
On Black Friday weekend Wal-Mart Stores Inc. is hoping some shoppers trade up from half-price pajamas and $1 DVDs. The retailer is also pitching $18,000 Cartier watches, Prada pumps and other high-price gifts on its website.
U.S. Executive Leads Siemens Through Tough Times (The Wall Street Journal)
MUNICH—When American Lisa Davis took over energy operations at Siemens AG in 2014, oil prices were near record highs and Europe’s largest industrial company was bullish on the U.S. natural-gas market.
Shake Shack Bets Against Peak Burger (Bloomberg)
Shake Shack, countering claims the burger market is running out of juice, plans to open a new London flagship restaurant in the heart of the West End theater district as the burger joint accelerates its expansion in the U.K.
Technology
Doing Business the Chinese Way: Facebook Develops A Censorship Tool (Forbes)
After seven years being banned in China, Facebook learned its lesson—Do business the Chinese way. According to the New York Times, Facebook has developed a censorship tool to restrict contents from appearing in feeds, hoping to re-enter the Chinese market, where many other tech companies including Google and Twitter failed in the past.
Banned Uber Drivers Can Now Have Their Appeals Heard In New York City (Digital Trends)
As things currently stand, Uber drivers do not have much of a voice once they are “deactivated” from the service. Things are beginning to change, however, as Uber drivers can now appeal their suspensions, though there is plenty of fine print to read through, reports BBC News.
Huawei Leapfrogs Samsung to Become World's Most Profitable Android Device Maker (Fortune)
The explosive woes of Samsung’s defective Galaxy Note 7 franchise have helped catapult China’s Huawei past the South Korean conglomerate as the most profitable Android smartphone manufacturer in the world. Apple AAPL -0.51% continues to remain the most profitable of all smartphone makers with a staggering 91% operating profit market share.
Toyota says it will develop more advanced electric-car batteries with up to 15% greater range (Reuters)
(Reuters) – Toyota Motor Corp said it aims to develop a more advanced electric-car battery “in a few years” that will allow the Japanese automaker to build vehicles with up to 15 percent greater range and battery life than they have currently.
Raspberry Pi helps build strong brains (CNet)
After designing a Civil War computer game for an eighth-grade project, Sonia Uppal was intrigued by programming. But her school material was just too dry and boring for a kid to endure. "It was awful," so she gave up computer science, she says.
Autonomous robots and game-playing A.I. — Incredible demos at Disrupt London, Dec 5-6 (Tech Crunch)
TechCrunch Disrupt in London is on December 5-6. Grab tickets here. As well as speakers and panels, we’ll be featuring some demos by some amazing tech companies.
The first will be by Boston Dynamics. Yes, folks, delegates to Disrupt London will get to see one of those amazing BD robots up close and personal, almost literally in the flesh (if they had any flesh, that is).
Google's AI can translate language pairs it has never seen (Engadget)
Google's AI is not just better at grasping languages like Mandarin, but can now translate between two languages it hasn't even trained on. In a research paper, Google reveals how it uses its own "interlingua" to internally represent phrases, regardless of the language.
Artificial Intelligence Will Make Your Sports Wearables — And You — Even Better (Digital Trends)
By bringing artificial intelligence to its wearable tech, PIQ is looking to improve on its design. Whether you are playing golf, tennis, skiing, or kiteboarding, this new technology will help you get better in any sport.
Politics
How President-elect Trump could eliminate conflicts of interest (CNN Money)
President-elect Donald Trump has given no indication that he will sell any of his vast business holdings before he takes office.
But if he really wants to eliminate conflicts of interest unlike anything an American president has ever presented, he has some options.
South Carolina Gov. Nikki Haley, Betsy DeVos selected to join Trump administration (The Wall Street Journal)
President-elect Donald Trump has chosen the first women for posts in his administration, picking South Carolina Gov. Nikki Haley to serve as the U.S. ambassador to the United Nations and school-choice advocate Betsy DeVos as his secretary of education, his transition team said Wednesday.
Here's Donald Trump's Thanksgiving Video Message Asking for Unity (AP, Fortune)
“Emotions are raw and tensions just don’t heal overnight.”
His Cabinet beginning to take shape, President-elect Donald Trump is offering a Thanksgiving prayer for unity after “a long and bruising” campaign season.
Watch President Obama’s Thanksgiving Message: ‘We’re Still One People’ (TIME)
In Obama’s last Thanksgiving address as President, he encouraged viewers to “reflect on what truly binds us as Americans” as he referred to the country’s founding values and the vision of Abraham Lincoln.
European Parliament Votes to Suspend Talks With Turkey on E.U. Membership (NY Times)
BRUSSELS — The European Parliament voted on Thursday to suspend talks with Turkey on European Union membership, the most forceful response yet to the crackdown by President Recep Tayyip Erdogan against political opponents.
Putin Claims Russia's Borders 'End Nowhere' At Geography Event (Newsweek)
“Russia’s borders end nowhere,” Russian President Vladimir Putin declared at the annual award ceremony of the national geographic society in Moscow to roaring applause, broadcast live on state television on Thursday.
Your questions about the potential US election recount, answered (Quartz)
Pressure is mounting from Hillary Clinton’s supporters for a recount of votes in three key states that Donald Trump narrowly won in the recent presidential election. Now Jill Stein, who ran for the presidency on the Green Party’s ticket, has raised some $3 million in a crowdfunding campaign, which covers the filing fees to initiate recounts in these states.
Green Party raises $2.5 million for presidential election recount in Wisconsin (Reuters)
Green Party presidential candidate Jill Stein on Thursday reached her goal to raise $2.5 million to request a recount in Wisconsin, one of three states where she plans to seek an audit of U.S. presidential election results, her campaign said.
Paying For College: Use Trump's Tax Plan To Pay $0 Tax On $30,000 Of Capital Gains (Forbes)
With the stock market hitting all-time highs since the election, and details about President Elect Trump’s tax reform plan for middle class families now known, you can combine your record investment gains with the following tax strategy to wipe out the tax on $30,000 in capital gains each year while your child is in college.
Health and Biotech
How Drug-Resistant Bacteria Travel from the Farm to Your Table (Scientific American)
Antibiotics are used more heavily in farm animals than in people. This may be the largest source of antibiotic-resistant bacteria.
Drug-resistance genes spread more widely and rapidly on farms than scientists ever thought, new discoveries show.
Life on the Home Planet
As Wildfires Rage, Israel Suggests Arson and Asks for Foreign Help (NY Times)
JERUSALEM — Parts of the port city of Haifa in northern Israel were ablaze on Thursday as wildfires raged through the country for a third day, devouring forests, damaging homes and prompting the evacuation of tens of thousands of people.
Russia, Turkey and Cyprus send firefighting planes to Israel (The Guardian)
Russia, Turkey and Cyprus are to send firefighting planes to Israel as the country battles fierce forest fires that have triggered the evacuation of tens of thousands of people, including 11 neighbourhoods in Haifa.
We asked a nutritionist how to enjoy Thanksgiving without worrying about weight gain, and she gave us these 11 tips (Business Insider)
Thanksgiving, for many, is the one time each year to gorge on foods that are part of tradition and family memories.
But it can also be a time people link with weight gain and stress.
The full moon just triggered one of the largest mass spawning events of 2016 (Science Alert)
It’s one of the most spectacular natural phenomena on Earth, and it only happens once a year – the annual mass spawning event at the Great Barrier Reef.
Suicide truck bomb kills more than 80 in Iraq, most of them Iranian pilgrims (Reuters)
A suicide truck bomb killed more than 80 people, most of them Iranian Shi'ite pilgrims, at a petrol station in the city of Hilla 100 km (62 miles) south of Baghdad on Thursday, police and medical sources said.
UN aid plan for east Aleppo awaits Syrian and Russian approval (The Guardian)
Syrian rebels in besieged east Aleppo have agreed to a United Nations plan for aid delivery and medical evacuations, but the UN is awaiting a green light from Russia and the Syrian government, the humanitarian adviser Jan Egeland has said.
