Financial Markets and Economy
OPEC Tries to Salvage Output Deal (Bloomberg)
OPEC minister are gathering in Vienna for Wednesday's output talks. They're still trying to salvage an agreement despite signs that the cartel remains split. Bloomberg's Richard Stubbe reports on "Bloomberg Daybreak: Asia."
Biggest LNG Sellers Warn Top Buyer Over Price of Its Freedom (Bloomberg)
Royal Dutch Shell Plc and BP Plc say that if Japan moves to ease restrictions that prevent its importers from reselling the gas, the Asian nation may have to purchase the fuel at a higher price in return.
China Steps Up Mortgage Controls in Some Property Markets (Bloomberg)
China’s government is stepping up efforts to contain runaway property prices, with the central bank clamping down further on mortgage lending in areas deemed overheated, people with knowledge of the matter said.
China Reserve Ratio Cut No Longer Expected This Year (Bloomberg)
China’s central bank is no longer likely to lower the required reserve ratio for major banks this year as producer prices continue rising to a fresh five-year high, economists said.
From Peak Oil to Peak Oil Demand in Just Nine Years (Bloomberg)
Peak demand for oil is the big new thing. True, the International Energy Agency, in the annual World Energy Outlook it released earlier this month, didn't envision a peak coming before 2040 barring a big acceleration in anti-climate-change efforts.
Assessing the Health of Singapore's Economy (Bloomberg)
Singapore Minister of State, Trade & Industry Koh Poh Koon discusses the Trans-Pacific Partnership, the possibility of a technical recession in Singapore and his outlook for growth.
Harvard Says Endowment Employees Will Forfeit Compensation (Bloomberg)
Harvard University said some employees at its $35.7 billion endowment won’t receive full compensation because the fund underperformed in the year through June.
OPEC Said to Remain Split as Russia Says It Won’t Join Talks (Bloomberg)
OPEC officials failed to resolve internal differences that stand in the way of an agreement to cut oil production, while Russia dimmed the prospects for a broader deal to revive prices by saying it’s not planning to attend crucial talks on Wednesday.
Canada Recreational Pot Sales Could Reach $4.5 Billion by 2021 (Bloomberg)
Canada’s push to legalize marijuana could be a “game changer” for the recreational pot industry with the potential to reach C$6 billion ($4.5 billion) in sales by 2021.
Why a December Fed Rate Hike May Not Be a Sure Thing (Bloomberg)
Ward McCarthy, Jefferies chief financial economist, discusses the impact of the U.S. election on Fed policy and previews the November employment report. He speaks with Bloomberg's Joe Weisenthal and Scarlet Fu on "What'd You Miss?"
One Chart Shows Why the Buyback Bonanza Will Keep Going Despite Rising Yields (Bloomberg)
The recent spike in global bond yields isn't enough to make a key source of demand for equities throughout this current bull market vanish, according to strategists at Citigroup Inc.
Hey Oil Market: Forget About OPEC for a Second (Bloomberg)
The oil market's attention is focused overwhelmingly on figuring out which OPEC member is going to cut what. The bigger question it shouldn't lose sight of is this: Who will replace China?
Are We Coming to the End of the Dollar's Run? (Bloomberg)
Bob Sinche, Amherst Pierpont global strategist, discusses the outlook for the U.S. dollar with Bloomberg's Joe Weisenthal and Scarlet Fu on "What'd You Miss?"
Consumer confidence soared in November to a post-recession high, according to the Conference Board's monthly report published on Tuesday.
Oil Retreats Below $47 Before OPEC Meeting as Rand Falls on Zuma (Bloomberg)
Oil retreated back below $47 as OPEC members failed to bridge differences on production cuts, while a rally in metals ran out of steam. The rand plunged after President Jacob Zuma survived a leadership threat.
Canadian Stocks Slide Most in Two Weeks as Oil Companies Retreat (Bloomberg)
Canadian stocks fell the most in two weeks, as energy companies are mired in a losing streak with talks among producers continuing ahead of the OPEC summit in Vienna this week.
Japan’s Household Spending, Retail Sales Decline in October (Bloomberg)
Japan’s household spending dropped for an eighth straight month and retail sales fell slightly in October, even as the unemployment rate remained at the lowest in two decades.
China Said to Be Planning M&A Curbs (Bloomberg)
2016 has seen a record run of deals by Chinese companies, but there are indications the wave could dry up next year. Regulators are said to be planning curbs on big overseas M&A deals. Bloomberg's Rosalind Chin reports on "Bloomberg Daybreak: Asia."
Yuan Rises to One-Week High as PBOC Boosts Fix Amid Dollar Drop (Bloomberg)
The yuan climbed to its strongest level in a week, as Chinese authorities work to halt the currency’s recent plunge with stronger fixings and a verbal defense.
Home Prices Recover Ground Lost During Bust (The Wall Street Journal)
U.S. home prices have climbed back above the record reached more than a decade ago, bringing to a close the worst period for the housing market since the Great Depression and stoking optimism for a more sustainable expansion.
Three Tailwinds Will Buoy Global Stocks in 2017: SocGen (Bloomberg)
The global equity market rally since President-elect Donald Trump's victory — driven, in part, by a rotation out of developed market bonds in favor of stocks — will gather yet-more steam with the S&P 500 Index likely to hit 2,400 by the end of 2017, according to Societe Generale SA analysts.
Buiter: Hard to See an Enduring OPEC Output Freeze (Bloomberg)
Willem Buiter, global chief economist at Citigroup, looks at the prospect of an OPEC output freeze at this week's meeting and what energy means to international economic growth.
Buiter: Consumer 'Healthy Component' of U.S. Economy (Bloomberg)
Willem Buiter, global chief economist at Citigroup, examines the state of the U.S. consumer and offers his GDP forecast for 2017 as he sees the economy picking up in the second half of the year.
Japan Culls Most Poultry Since 2011 as Bird Flu Confirmed (Bloomberg)
Japan ordered the culling of 326,500 poultry after confirming bird flu in two northern Japanese farms, marking the worst outbreak of the disease since 2011, according to the Agriculture Ministry.
OECD's Mann: World Suffers From Low-Growth Trap (Bloomberg)
In today's "Morning Must Read," Bloomberg’s Michael McKee and Francine Lacqua highlight comments on using real world solutions to fight political extremism. They speak with Catherine Mann, chief economist at OECD, and Gideon Rose, editor at Foreign Affairs magazine on "Bloomberg Surveillance."
How Did Manhattan’s Luxury Stores Fare on Black Friday?(Bloomberg)
According to the National Retail Federation, shoppers spent an average of $289 over Thanksgiving weekend, down about three percentage points from last year. The group noted further that 44 percent of those shoppers did their buying online.
Stripe Founders Become Ireland’s Youngest Billionaires (Bloomberg)
The brothers who co-founded online payments service Stripe Inc. have become Ireland’s youngest billionaires after a $150 million funding round valued the business at $9 billion. Bloomberg's Tom Metcalf has more on "Bloomberg Technology."
Companies
How Samsung Plans to Restore Shareholder Confidence (Bloomberg)
Samsung Electronics Co. will increase cash returns to shareholders, add at least one outside director and review its corporate structure, adopting some of the changes proposed by activist investor Elliott Management Corp. Bloomberg's Peter Elstrom reports on "Bloomberg Technology.
UPS CEO Sees Record Holiday Season Shipping Volume (Bloomberg)
David Abney, chairman and chief executive officer at UPS, discusses how the company prepared for an expected 14 percent increase in volume as he's anticipating a record holiday season.
Apple Gets Win Against Australia Banks Over Mobile Payments (Bloomberg)
Apple Inc. scored a victory in the global battle to control the future of mobile payment technology after the Australian competition regulator refused to grant a group of local banks permission to negotiate collectively over the introduction of Apple Pay.
Marriott Adds Starwood Brands to Luxury Offerings (Bloomberg)
Marriott International plans to keep all 30 of its brands intact following its merger with Starwood Hotels and Resorts, creating a luxury portfolio to entice global travelers. Bloomberg's Nikki Ekstein has the details on the brands and the future of the companies' rewards programs on "Bloomberg Markets."
Technology
The online store where you can buy pretty much anything is discounting almost all of its products including the Amazon Dot, Fire tablets, and Kindles.
AT&T's new $35 streaming TV package is the key to ditching your $100+ cable bill and still watching whatever you want (Business insider)
One of the big knocks against cord-cutting, the act of ditching your $100+ dollar cable package forever, has been that you won't actually save any money.
Apple And Google Alum Raises $2.5M To Grow Kit, Social Network For Product Recommendations (Forbes)
Usually saying you ‘learned from the best’ is hyperbole, but not for Camille Hearst. The Stanford engineering graduate started her career at Apple during the Steve Jobs era, right as the late billionaire and product genius was working with designer Jony Ive to change music consumption forever with the iPod.
The hacker who hacked San Francisco mass transit got hacked himself (Business Insider)
Over the weekend, San Francisco's bus and trolley system, called Muni by locals, got hacked with ransomware.
Someone got into Muni's computer system and threatened to lock its administrators out until they paid 100 bitcoin, or about $73,000.
Politics
Donald Trump’s Harshly-Worded Reaction to Castro’s Death (Bloomberg)
On "With All Due Respect," Mark Halperin and John Heilemann discuss President-Elect Donald Trump’s comments on the death of former Cuban leader Fidel Castro.
President-elect Donald Trump will meet with Goldman Sachs Chief Operating Officer and President Gary Cohn Tuesday, according to Sean Spicer, a spokesman for Trump's transition team.
Citigroup's Buiter on French Election, Italian Referendum (Bloomberg)
Willem Buiter, global chief economist at Citigroup, examines European politics with a look at the French presidential election and Italian referendum. He speaks on "Bloomberg Daybreak: Americas."
South Korea’s president says she is willing to resign over a $70 million extortion scandal (Business Insider)
South Korea’s president has requested to her Parliament to find a way for her to relinquish power over a $70 million extortion scandal involving a close friend that prosecutors claim was also a secret adviser with strong political influence over the administration.
Why The Media Should Cover Donald Trump Like A Corporation In Crisis (Forbes)
You would not think Donald Trump has much in common with General Motors, or Delta Air Lines, or even McDonald’s.
The US election recount is a long shot – but the alternative is catastrophe (The Guardian)
When big changes and dangers arise, you have to think big. You don’t put out a forest fire with a glass of water. Thinking small can prevent you from even recognizing trouble, let alone your options for overcoming it. There’s never been a time when thinking big matters more than now.
Health and Biotech
Weaponized Antibodies Use New Tricks to Fight Cancer (Scientific American)
After decades of frustration, efforts to develop antibodies that can ferry drugs into cancer cells—and minimize damage to healthy tissue—are gathering steam. The next generation of these ‘weaponized antibody’ therapies, called antibody–drug conjugates (ADCs), is working its way through clinical trials.
Life on the Home Planet
Colombia plane crash: Brazil declares three days of mourning (The Guardian)
Brazil has declared three days of national mourning after a plane carrying the Chapecoense football team crashed in Colombia in the early hours of Tuesday, killing at least 75 people including players, journalists and crew members.
Scientists have found the largest exposed fault on Earth (Science Alert)
For the first time, researchers have confirmed the existence of the largest exposed fault on Earth, and it could explain how a 7.2-km-deep (4.5-mile) abyss formed in the Pacific Ocean.
The West Antarctic ice shelf is breaking apart from the inside (Science Alert)
Last year, a massive 583-square-kilometre (225-square-mile) chunk of the Pine Island Glacier – a vast section of ice that holds the West Antarctic ice sheet together – broke free, heading out into the ocean to eventually melt and raise sea levels across the world.
Four still hospitalized in Ohio State attack; terror link probed (Reuters)
Four people remained hospitalized in fair condition on Tuesday after a car and knife attack by an Ohio State University student that was being investigated as a possible terror attack, officials said.
