Financial Markets and Economy
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.
Venezuela’s Currency Just Had the Biggest Monthly Collapse Ever (Bloomberg)
Venezuela’s currency – the so-called “strong bolivar” – is weakening beyond levels that analysts had forecast just a few weeks ago as an expanding money supply chases a limited amount of U.S. dollars.
European leveraged loans pick up pace in run up to year-end (Reuters)
Europe’s leveraged loan market has been flooded with deals in the run up to year-end creating the busiest period since January, giving banks and investors the opportunity to put new money to work after a relatively quiet year.
American bankers look forward to a bonfire of financial rules (The Economist)
BEFORE the presidential election, Wall Street dreaded Donald Trump as a dangerous, unpredictable and disruptive, if improbable, president. Since his victory, fear has turned to hope. Stockmarkets are at record highs and shares in financial institutions have been among the best performers. Mr Trump, it turns out, looks to big finance like good news.
Could Saudi Arabia Walk Away From Oil Talks? (Forbes)
It might seem disingenuous to pose such a question: Could Saudi Arabia, OPEC’s de facto leader, undo much of its public relations and media spinning work over the past year trying to convince global oil markets that indeed a much needed oil production cut is on the horizon and walk away from upcoming oil production talks?
Turkey Central Bank Unexpectedly Raises Rates on Lira Plunge (Bloomberg)
Turkey’s central bank unexpectedly raised its one-week repurchase and overnight lending rates for the first time in almost three years, after the lira’s plunge to a record low and its impact on inflation trumped political demands for lower borrowing costs.
Global Markets Mixed In Quiet Trading After US Holiday (Associated Press)
SEOUL, South Korea (AP) — European stocks moved lower Friday while Asian stock markets rose in subdued trading after U.S. markets closed for the Thanksgiving holiday.
MOE: 'It's a wildly exciting time just to be living, to be an entrepreneur, to be an investor' (Real Vision TV)
Whether you’re an entrepreneur or a growth investor looking for the next big thing in technology, right now is a wildly exciting time to be in Silicon Valley, with innovation and the acceleration of progress creating a range of opportunities like never before.
Canadian dollar may go as low as 70 cents US in 2017, experts say (CBC News)
Canadians travelling to the United States or buying goods south of the border in 2017 could expect to pay more as the Canadian dollar is expected to retreat, with some economists saying the loonie could swing as low as 70 cents US.
Chart: How Bank of America Would Profit From Deregulation (Fool.com)
Over the past eight years, the bank industry has been laboring under one of the most stringent regulatory regimes since the Great Depression. This has not only driven up banks' regulatory and compliance costs, but it's also made it harder for them to generate revenue.
Warren Buffet is famous for being one of the world's savviest investors, earning billions for himself, and plenty for his stockholders as well. As chief of the Berkshire Hathaway conglomerate, he's been accorded the honorary title of the Oracle of Omaha.
Market underestimates Canada rate cut risk amid NAFTA uncertainty (Reuters)
The market is too complacent about the prospect of further interest rate cuts from the Bank of Canada, some economists say, as an uncertain outlook for the NAFTA trade accord risks derailing an expected pick-up in Canada's business spending.
Foreigners pile back into Australian property, reignite bubble fears (Reuters)
Australia's 'spring-selling' real estate season is seeing a defiant return of Chinese buyers, undaunted by lending restrictions aimed at curbing their interest in the country's sky-rocketing housing market.
Yuan Poised for Third Weekly Decline as Traders Eye 7 Per Dollar (Bloomberg)
The yuan headed for a third week of declines as the greenback extended its global surge amid the prospect of higher U.S. interest rates.
Move Over VIX, Pain Has a New King (Bloomberg)
The Bank for International Settlements has found a better barometer to capture the nervousness that starts as a slight reduction in global banks' leverage, is magnified by European lenders as a dollar squeeze in Asian supply chains, and reverberates around the world as a financial tightness felt by everyone.
Donald Trump is a threat to European markets, warns European Central Bank (International Business Times)
The European Central Bank (ECB) has warned that the risk of political instability in the US following the election of Donald Trump as its next president could affect investor sentiment around the world. This in turn would trigger another rise in borrowing costs for eurozone governments.
Shakeup at R3 CEV blockchain consortium as banks leave (Brave New Coin)
R3 CEV launched with nine founding members in September 2015. Helmed by David Rutter, a former executive at interdealer broker Icap, the firm set out to develop blockchain technology for the financial services industry.
After Cancelling Note Exchange, PM Modi Says There’s Little Criticism Of Demonetisation! (Scoop Whoop)
A day after the government cancelled the exchange of demonetised Rs 500 and Rs 1000 notes in public banks almost a month ahead of the originally stated deadline, Prime Minister Narendra Modi on Friday said that there was very little criticism of the scheme among people.
Dollar Breaks Above 113 Yen As Fed Minutes Intensify Rate Hike Expectations (Investors Buz)
Dollar breaks above 113 yen The US dollar was once again making fresh highs in Thursday’s Asian session as strong US data and hawkish FOMC minutes fuelled expectations that the Fed is poised to raise rates in December.
Individual Investor Sentiment May Be Too Bullish (David I. Templeton, CFA, Seeking Alpha)
The American Association of Individual Investors released their Sentiment Survey today and bullish sentiment is reported at 49.9%. This is slightly above the +1 standard deviation level of 48.4%.
Low-Interest Rate Environment Has Not Boosted Business Investment (Value Walk)
Low-Interest Rate Environment is meant to spur economic activity, but inflation remains anemic in most advanced economies and a prolonged period of low-interest rates has introduced potentially destabilizing financial distortions that’s the summary of a presentation from Moody’s Investors Service, which considers the low-interest rate environment and its impact on credit.
Companies
Target CEO Says Online Sales Are Actually Helping Stores on Black Friday (Fortune)
“They can’t compete with each other,” Chief Executive Brian Cornell told Fortune.
It took them a while, but it looks like retailers have finally figured out that online sales don’t necessarily eat into their store sales. On the contrary.
Coca-Cola: A Safe Dividend King Trading At Its 52-Week Low (Simply Safe Dividends, Seeking Alpha)
When it comes to long-term blue chip investing, it's hard to go wrong with dividend aristocrats.
Of course, the only thing better than a company that has grown its dividend 25 or more consecutive years is a dividend king, like Coca-Cola (NYSE:KO), which has one of the best payout growth track records in America with 54 straight years of dividend growth under its belt.
Valeant Pharmaceuticals Intl Inc: More Bad News For VRX Stock (Investor Buz)
Bad News for VRX Stock Koffler went on to reduce her target price on Valeant from $25.00 to $11.00. She expects the stock to move lower in the next six months to a year.
Here's How IBM Crashed Australia's First Online Census (Reuters)
(SYDNEY) – International Business Machines IBM -0.42% failed in its handling of the A$10 million ($7.4 million) IT contract for Australia’s first predominantly online census, Australian Prime Minister Malcolm Turnbull said on Friday.
Nationwide increases 10-year mortgage rates as lending market begins to turn (The Telegraph)
Nationwide has increased the rates on some of its 10-year fixed mortgages by 0.3 percentage points as mortgage rates across the board seem likely to rise.
U.S. mortgage rates march higher as Trump win sinks in (CBC News)
Long-term U.S. mortgage rates continued to surge this week in the aftermath of Donald Trump's election win.
Mortgage giant Freddie Mac said Wednesday that the average rate on a 30-year fixed rate loan shot up to 4.03 per cent, the highest since July 2015 and up from 3.94 per cent a week earlier.
Technology
Apple invents glass enclosure that’s perfect for iPhone 8 (Cult Of Mac)
Apple has filed a patent for a wraparound glass enclosure that would be perfect for next year’s “all-glass” iPhone 8. It is designed to be thin and light, but also robust, scratch-resistant, and radio-transparent.
Apple Exploring New 3D Dual-Lens Camera Hardware for iPhone 8 (Mac Rumors)
Apple is working with LG on a new dual camera module capable of 3D photography effects for potential use in its 10th anniversary iPhone, according to a brief report in The Korea Economic Daily.
Fully Functional 'Apple Mirror' Augments Your Reflection With iOS Apps (Mac Rumors)
A web developer and graphic designer has created a fully functioning touchscreen "Apple Mirror", offering a reflective look into an imagined future where Cupertino builds smart screens for the home.
Give the Gift of a Smarter Home With All-Time Low WeMo Pricing (Kinja Deals)
If you have any lamps or appliances you wish you could control from afar, Belkin’s popular WeMo Switches are marked down to all-time low prices in today’s Amazon Gold Box.
Video shows e-cigarette explode in man's pants, lawyer says (CNet)
The latest incident comes from Grand Central Terminal in New York. As CNN reports, the scene unfolded in the Central Cellars Wine and Spirits store.
Amazon Built a Black Friday Gold Box Just For PC Gamers (Kinja Deals)
Inside, you’ll find complete gaming PCs, Razer peripherals, routers, PC components, and even an Elgato capture card, all marked down to great low prices. Just remember that these deals are only available today, and the best stuff could sell out early.
Politics
Trump’s choice for commerce secretary is Wilbur Ross dubbed ‘king of bankruptcy’ (The Star)
Wilbur Ross, the billionaire investor considered the “king of bankruptcy” for buying beaten-down companies with the potential to deliver profits, is expected to be President-elect Donald Trump’s choice for commerce secretary, two officials with knowledge of the decision said.
Trump expected to tap billionaire investor Wilbur Ross for commerce secretary (The Washington Post)
Wilbur Ross, the billionaire investor considered the “king of bankruptcy” for buying beaten-down companies with the potential to deliver profits, is expected to be President-elect Donald Trump’s choice for commerce secretary, two officials with knowledge of the decision said.
Most Americans Don't Want Undocumented Immigrants to Leave, Poll Says (NBC News)
Despite Donald Trump's campaign promise to crack down on illegal immigration, a majority of Americans would like to see undocumented immigrants stay in the country and get a chance to become citizens, according to a new poll from Quinnipiac University.
Group Funded By Trump’s Education Secretary Pick: ‘Bring Back Child Labor’ (The Huffington Post)
The Acton Institute, a conservative nonprofit that is said to have received thousands of dollars in donations from Betsy DeVos and her family, posted an essay to its blog this month that called child labor “a gift our kids can handle.”
European Parliament Votes to Suspend Talks With Turkey on E.U. Membership (NY Times)
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.
Choi-gate: South Korean president's approval rating tanks at 4% (Reuters, The Guardian)
South Korean President Park Geun-hye’s approval rating fell to 4% amid a deepening political crisis, marking an all-time low for any democratically elected leader in the country, according to Gallup Korea polling.
Life on the Home Planet
ISIS Bomb Aimed at Shiite Pilgrims in Iraq Kills at Least 80 (NY Times)
ERBIL, Iraq — At least 80 people, many of them Shiite pilgrims on their way home to Iran, were killed on Thursday when an Islamic State suicide bomber detonated a truck filled with explosives at a roadside service station in southern Iraq, local officials said.
Torrential rains cause widespread flooding in northern Italy (Euro News)
Little more than two weeks after Italian scientists warned that climate change had put much of the country at risk of flooding, parts of the northwest have been inundated by heavy rain.
China orders Xinjiang residents to surrender passports to police (CNN News)
Millions of residents in China's northwestern Xinjiang region have been ordered to surrender their passports to local police, in a move rights groups say is an attack on personal freedom.
