Financial Markets and Economy
The Bank of Japan Can't Keep Stores From Cutting Prices (Bloomberg)
While Governor Haruhiko Kuroda’s vow to overshoot the Bank of Japan’s 2 percent inflation target caused a stir among monetary policy watchers in September, it’s yet to have an impact among retailers.
Nigeria’s Oil Minister Has Eye on Shale as OPEC Readies Cuts (Bloomberg)
As OPEC prepares for talks on eliminating a global crude glut, Nigeria’s oil minister says he’s more concerned about the potential for U.S. shale suppliers to replace the lost barrels by ramping up their own output, quelling any price rally the producer club might achieve.
U.S. Stocks Rise in Week Despite Need for Earnings Growth (Bloomberg)
U.S. stocks rose Friday on light post-Thanksgiving trading as the four major equity indexes reached all-time highs.
China's Economy Looks Like It's Remaining Stable (Bloomberg)
China’s economy remains steady this month even amid efforts to cool property markets, according to some of the earliest private economic indicators.
What Will Lift World Economy? Goldman Says Higher Oil Prices (Bloomberg)
Forget the stagflation of the 1970s. Higher oil prices would be a boon for the global economy, according to Goldman Sachs Group Inc.
Oil Tumbles Most in Two Months Amid OPEC Accord Skepticism (Bloomberg)
Oil dropped the most in more than two months on doubts OPEC will come to an accord to cut output as planned talks between producers inside and outside the group was canceled.
The EU’s New Bomb Is Ticking in the Netherlands (The Wall Street Journal)
THE HAGUE—If the European dream is to die, it may be the Netherlands that delivers the fatal blow. The Dutch general election in March is shaping up to be a defining moment for the European project.
Oil falls $2 a barrel on OPEC cut uncertainty ahead of meeting (Reuters)
U.S. crude fell nearly 4 percent on Friday, dragged down by uncertainty over whether the Organization of the Petroleum Exporting Countries will reach an output deal, after Saudi Arabia said it will not attend talks on Monday with non-OPEC producers to discuss supply cuts.
London Home Values Surpass 14 Times Earnings for First Time (Bloomberg)
It now costs the average Londoner 14.2 times their annual gross salary of 33,720 pounds ($42,048) to purchase a home, the highest level on record and more than double the ratio for the U.K. as a whole, according to data compiled by Hometrack.
Dollar Shortage Goes Mainstream: When Will The Fed Confess? (Zero Hedge)
Last week we posted the report by ADM ISI's Paul Mylchreest “Dollar Liquidity Threat is Getting Critical and the Fed is M.I.A”which summarized some of the key points in the ongoing, second phase of global dollar shortage, profiled here first in the start of 2015 and validated recently by the BIS.
Will the Stock Market Crash After the FOMC Meeting? (Money Morning)
Stocks have been hitting all-time highs this week, but with the Fed expected to raise interest rates, many are wondering if the stock market will crash after the FOMC meeting in December.
Business community to climate denier Donald Trump: Climate action is an economic imperative (Think Progress)
A new report from the United Nations Development Program is sounding the alarm on the economic cost of climate inaction. Limiting global warming to 1.5° Celsius (2.7° Fahrenheit) could save the global economy as much as $12 trillion by 2050, compared with a business-as-usual scenario where the Earth warms 2.5° Celsius (4.5° Fahrenheit), according to the study, which was released Wednesday during the U.N. climate conference in Marrakesh.
October Was The Worst Month For Hedge Funds Yet This Year (Zero Hedge)
Another month, and the pain for the hedge fund industry just keeps getting more intense.
According to the latest Evestment report, investors redeemed an estimated net $14.2 billion from hedge funds in October. Year-to-date, there has been a net $77.0 billion removed from the industry.
Choke Point of a Nation: The High Cost of an Aging River Lock (NY Times)
Luther Helland stood on a platform in the middle of the river and surveyed his dam. It was in bad shape. Several of the panels that kept the water back were missing, while others were out of true. Weeks of work stretched before him, compounded by the vagaries of the river.
How Much Government Debt Rests Upon Your Shoulders? (Zero Hedge)
With the U.S. National Debt closing in on the $20 trillion mark, there has been a lot of conversation in Washington about debt and its role in government. And most of that conversation right now revolves around President-elect Donald Trump.
Companies
Wells Fargo Asks Court to Force Customers to Arbitration in Fake Accounts Cases (DealBook, NY Times)
Wells Fargo has asked a Federal District Court to order dozens of customers who are suing the bank over the opening of unauthorized accounts to resolve their disputes in private arbitrations instead of court, according to legal documents.
Amazon Aims For Double-Digit Christmas Growth While Walmart And Target Hope For Flat Sales (Forbes)
The third quarter reports of Walmart and Target were very similar, showing that the customer did shop, but gingerly. Both retailers’ earnings were encouraging and earnings estimates for the full year were raised slightly.
5 Stats From The State Of The Connected Customer Report That Will Have You Rethinking The Customer Experience (SalesForce Voice)
In the recently-released State of the Connected Customer Report, Salesforce Research surveyed over 7,000 consumers and business buyers around the world to learn more about what’s on the minds of today’s technology-empowered customers. What do they expect from their experiences with brands big and small, and how can businesses earn their loyalty?
Technology
Toyota's battery 'breakthrough' can lead to more range, longer life (Road Show)
Toyota believes it's found a way to create more efficient EV batteries.
Toyota calls its method, which allows a free flow of lithium ions from the cathode to the anode, the "world's first behavior observation method for lithium ions in electrolyte."
Electric Skateboards and Beyond: Testing the Commute of the Future (Bloomberg)
Americans could soon witness a revolution in public transportation infrastructure. In New York alone, a new subway line is nearly ready to open, and plans are afoot for a new Penn Station and Port Authority Bus Terminal.
A ‘Built-In Genetic Circuit' COuld Fight Cancer By Starving Tumors Of Oxygen (Digital Trends)
Researchers at the U.K.’s University of Southampton are doing a lot more than just imagining such a scenario. In a new piece of research, they have engineered cells with a so-called “built-in genetic circuit” capable of producing a molecule for inhibiting the ability of tumors to grow and survive in the body.
Bragi's 'Headphone' takes on Apple's AirPods (Engadget)
Almost three years ago, Bragi left an indelible mark on the headphone universe. The then-unknown company launched a pair of "truly" wireless headphones on Kickstarter that not only cut every wire, but boasted a slew of fitness-tracking features, all wrapped in a superslick design.
Microsoft To Add Visual Appeal To Windows 10 User Interface With Project Neon (Digital Trends)
Windows 10 offers a number of enhancements that makes it perhaps the best Windows operating system version yet. There is the Cortana digital personal assistant, Universal Windows Platform for apps that run on desktops, notebooks, 2-in-1s, and phones, and significantly improved security.
Give the Gift of Better Wi-Fi With This $70 TP-Link Archer C7 (Kinja Deals)
Eero’s mesh routers are the standout networking deal of Black Friday, but they’re probably overkill if you live in a relatively small apartment or home. The Wirecutter-recommended TP-Link Archer C7 though is one of the best “traditional” routers you can get, and it’ll only cost you $70 today.
WordPress.com rolls out Google Translate widget to let visitors convert websites into 103 languages (Venture Beat)
WordPress.com has launched a new widget — powered by Google Translate — that lets bloggers and their visitors translate a website’s content into more than 100 languages.
Politics
Donald Trump’s New York Times Interview: Full Transcript (NY Times)
Following is a transcript of President-elect Donald J. Trump’s interview on Tuesday with reporters, editors and opinion columnists from The New York Times. The transcription was prepared by Liam Stack, Jonah Engel Bromwich, Karen Workman and Tim Herrera of The Times.
Trump’s Business Partner Will Be Manila’s Man in Washington (Bloomberg)
Among the conflict-of-interest questions swirling around U.S. President-elect Donald Trump’s global business interests, Trump Tower at Century City in Manila’s financial district stands out.
When trying to survive while homeless is made illegal (Think Progress)
Over the last decade that Floyd Parks has been homeless in New York City, he hasn’t just had to endure the suffering that can come without a place to call home. He’s also had to endure being “arrested, humiliated, and abused by police officers,” he said.
With a Meeting, Trump Renewed a British Wind Farm Fight (NY Times)
LONDON — When President-elect Donald J. Trump met with the British politician Nigel Farage in recent days, he encouraged Mr. Farage and his entourage to oppose the kind of offshore wind farms that Mr. Trump believes will mar the pristine view from one of his two Scottish golf courses, according to one person present.
The new nationalism (The Economist)
WHEN Donald Trump vowed to “Make America Great Again!” he was echoing the campaign of Ronald Reagan in 1980. Back then voters sought renewal after the failures of the Carter presidency.
‘Economic Tsunami’: Fearing Donald Trump, Immigrants in New York Spend Less (NY Times)
In Jackson Heights, Queens, days after the presidential election, an Indian-American jeweler was left holding an order of two custom men’s gold rings worth $3,000. The customer told him he could not pay; he had to go back to his home country before he could be deported.
What the world worries about (The Economist)
BREXIT in June, then Trump in November and next year the threat of Marine Le Pen, the leader of France’s Eurosceptic party. Populism has rarely been so popular, and Western democratic and international institutions look increasingly fragile.
If Republicans get their way, poor people better hope they never get sick again (Think Progress)
In 2012, shortly after Republican candidate Mitt Romney selected now-Speaker Paul Ryan as his running mate, a Democratic super PAC convened a focus group to explore whether Romney’s support for Ryan’s budget proposals could be a liability for the presidential candidate.
Health and Biotech
Swap the bottle for the joint: Can pot-related drugs wean substance abusers off the hard stuff? (Scientific American)
Debate over whether pot is a gateway drug that leads to more serious abuse problems — think heroin or cocaine dependence — has raged on seemingly forever.
Life on the Home Planet
Sea ice reaches a new low (The Economist)
MEASURING sea ice is difficult. Not only does it appear in the most remote, inhospitable parts of the world, it is constantly either melting or forming. Since 1979, satellites have made the job easier, but they can give a misleading picture.
Migrants riot at Bulgarian refugee camp (EuroNews)
Bulgarian riot police deployed water cannon near hundreds of migrants who broke through a barrier in the country’s largest refugee camp.
In a California Valley, Healthy Food Everywhere but on the Table (NY Times)
SALINAS, Calif. — As Americans gather around Thanksgiving tables, chances are that the healthier parts of their menus — the tossed salads, broccoli casseroles or steaming bowls of roasted brussels sprouts — were grown here in the Salinas Valley.
Elon Musk (Bloomberg)
Elon Musk continues to befuddle Planet Earth. Every time one of his companies stumbles, the entrepreneur seems to have another spectacular idea to announce — a Martian colony, a space-based internet or an 800-mph transit system — to thrill and confuse.
Global Warming Alters Arctic Food Chain, Scientists Say, With Unforeseeable Results (NY Times)
The Arctic Ocean may seem remote and forbidding, but to birds, whales and other animals, it’s a top-notch dining destination.
The Top 10 Ski Resorts In North America For 2017 (Forbes)
The exercise of picking a ski resort, of where to spend a ski trip, offers travelers a unique problem to solve. All manners of things enter a skier’s decision: snow, terrain, lodging, airports, prices and, of course, the novelty of experience.
