Financial Markets and Economy
Oil falls on output cut skepticism, OPEC and Russia output rise (Reuters)
Oil prices on Tuesday ended lower for the first time since OPEC agreed on Nov. 30 to cut output, as data showing record high production in the producer group fed skepticism that it would be able to reduce supplies.
Brazil’s Reform Plan in Disarray After Senate Chief Removed (Bloomberg)
Brazil’s economic reform plan was thrown into disarray after a Supreme Court justice removed Senate chief Renan Calheiros just days before the upper house was scheduled to vote on a crucial spending cap bill.
Wall Street as Landlord: Blackstone Going Public with a $10 Billion Bet on Foreclosed Homes (The Wall Street Journal)
Jonathan Gray of Blackstone Group LP went on the biggest homebuying spree in history after the U.S. foreclosure crisis, purchasing repossessed properties from the courthouse steps and through online auctions.
A Cheat Sheet on the Deglobalization of the Financial World (Bloomberg)
From Brexit and rising polarization in Europe to the protectionist rhetoric of President-elect Donald Trump, this year's played host to a series of political ruptures that threaten a breakdown in the existing internationalist order.
One Historic Lens Says Trump Stock Market Lovefest Just Starting (Bloomberg)
The post-election advance in U.S. stocks fits into a pattern at the beginning of presidential cycles, and if history is any guide the rally greeting Donald Trump is only halfway done.
US stocks finished higher but little changed on Tuesday, and the Dow closed at an all-time high. Crude oil fell for the first day since OPEC agreed last Wednesday to cut production.
U.S. ‘Disappointed’ by Japanese Plan to Cut Drug Costs (The Wall Street Journal)
The U.S. government has written to a senior aide of Japan’s Prime Minister Shinzo Abe, calling on Tokyo to reconsider a plan that would allow more frequent pharmaceutical price cuts.
Here's how media giants see the future of advertising (BI Intelligence)
The media buying arms of the world's largest advertising holding companies have released their ad spend forecasts for the coming year.
Treasuries Trade in Narrowest Range Since Before U.S. Election (Bloomberg)
Benchmark 10-year Treasury yields traded in the narrowest range since before the U.S. election as investors shifted focus to the European Central Bank’s meeting this week.
Family’s $29 Billion Fortune Claim Denied Amid India’s Tax Hunt (Bloomberg)
India’s government has rejected a $29 billion declaration of income from a family of four citizens. That fortune would’ve made them wealthier than the nation’s richest man.
Stock Rally Extends Into Asia; Aussie Dollar Sinks on GDP Miss (Bloomberg)
Asian stocks climbed, following a rally in U.S. equities, as the yen and crude maintained losses. The Australian dollar dropped after a report showed the world’s 12th-largest economy shrank by the most since 2008.
Saudi Arabia’s Post-Oil Era Starts in Human Resources (Bloomberg)
The 55-year-old managing director of Haji Husein Alireza & Co. Ltd., which sells vehicles from dump trucks to Aston Martin cars, has shared in a boom that turned the desert monarchy into one of the world’s richest countries.
Australia’s Economy Shrinks Most in Eight Years; Currency Slumps (Bloomberg)
Australia’s economy shrank the most in almost eight years in the third quarter as government spending fell and imports rose. The local currency slumped.
Five Ways To Kickstart Innovation And Build It Into Your Company Culture (Forbes)
Creating a culture of innovation is flat-out hard work. What makes it hard work is that you have to be, in essence, focused on serendipity. The juxtaposition of “focus” and “serendipity” is paradoxical, and tricky to maintain as a frame of mind personally and in an organization.
The world's tallest luxury building can't get its superrich buyers to pay full price (Business Insider)
Renters and buyers across Manhattan are revolting against rising prices.
Bloomberg's Oshrat Carmiel reported on Tuesday that 432 Park Ave., the slim skyscraper that's the tallest residential building in the world, has sold units this year for an average of 10% less than the original listing price.
Companies
Theranos Foresaw Huge Growth in Revenue and Profits (The Wall Street Journal)
While soliciting investors in 2014 and 2015, Theranos Inc. predicted revenue of nearly $2 billion and net income of about $505 million this year, according to investor materials from the blood-testing startup.
SoftBank’s Son Said to Plan Meeting With Trump in New York (Bloomberg)
SoftBank Group Corp. founder and Chief Executive Officer Masayoshi Son is planning to meet with President-elect Donald Trump in New York on Tuesday, a person with direct knowledge of the matter said.
AT&T, Time Warner CEOs hopeful merger will be approved under Trump (CNN Money)
The top executives at both AT&T and Time Warner appear hopeful that President-elect Donald Trump and his administration will not stand in the way of their companies' $85.4-billion merger.
Technology
Tesla Recalls 7,000 Charging Adapters After Two Overheat (Bloomberg)
Tesla Motors Inc. said it’s voluntarily recalling about 7,000 adapters for electric-vehicle charging after two reports of overheating that resulted in melted plastic on the plugs. The rarely used item is sold through the company’s online store.
Instagram finally lets users disable comments (CNN Money)
The Facebook (FB, Tech30)-owned photo sharing app said on Tuesday it is adding a feature to allow people to turn off comments on individual Instagram posts.
This online company makes it easy to turn the pictures on your phone into awesome holiday gifts (Insider Picks)
One tried-and-true gift for the important people in your life is a photograph of the you and them together.
Google further shrinks the size of your Android app updates (Engadget)
If there's a regular bane in Android phone owners' existence, it's the never-ending stream of app updates. Even though they're smaller than full downloads, they still chew up a lot of data — just ask anyone who has sucked down hundreds of megabytes updating a new phone. Google's engineers have a better solution, though.
Thanks To Alexa, You Can Control Your Home By Talking To Your Smart Watch (Digital Trends)
To allow you to talk to your wrist and cause the lights to dim, Martian Watches has just added Alexa voice control to its mVoice line of smart watches. With an mVoice smartwatch, rather than move to another room to interact with Alexa on an Amazon Echo, Tab, or Dot, you can simply speak to your watch.
Robotic hand exoskeleton lets quadriplegic people use cutlery (New Scientist)
Robotics lends a helping hand. Using a brain-controlled exoskeleton, six paralysed people regained the ability to do everyday tasks such as using cutlery or signing documents. The system required no surgery and is mobile enough to use outside a laboratory.
Samsung's Galaxy S8 could lose its headphone jack, too (CNet)
People scoffed and moaned when the iPhone 7 ditched the headphone jack, but it seems like the trend could continue. The upcoming Samsung Galaxy S8 may become the next popular phone to forgo the headphone jack, according to SamMobile.
Politics
Trump interjects himself in Air Force One, business deals (Associated Press)
President-elect Donald Trump, a political newcomer who touts his corporate skills, turned businessman-in-chief Tuesday, first demanding the government cancel a multibillion-dollar order for new presidential planes and then hailing a Japanese company's commitment to invest billions in the U.S.
For Europe’s Unity, 2017 Will Be a Year of Reckoning (The Wall Street Journal)
Demands from the gathering forces of European populism range from erecting border fences to dismantling the euro. Some insurgent parties want greater fiscal leeway from Europe. Others want their money back from neighboring nations.
Rouhani says Iran will not let Trump rip up nuclear deal (Reuters)
Iran's President Hassan Rouhani said on Tuesday he would not let U.S. President-elect Donald Trump rip up a global nuclear deal, warning of unspecified repercussions if Washington reneges on the agreement.
Orban allies tighten media grip ahead of Hungary election (Reuters)
People close to Prime Minister Viktor Orban are increasing their control over Hungarian media, raising concerns among government critics and international bodies over press freedom as an election approaches.
U.S. seeks to reassure Beijing after Trump call with Taiwan leader (Reuters)
The White House said on Monday it had sought to reassure China after President-elect Donald Trump's phone call with Taiwan's leader last week, which the Obama administration warned could undermine progress in relations with Beijing.
Wooed by Donald Trump, Taiwan Trembles (The Wall Street Journal)
As soon as President Tsai Ing-wen won election this year, the long lines of mainland Chinese visitors waiting for pineapple cakes outside the Chia Te bakery began to shrink.
China urges U.S. to block transit by Taiwan president (Reuters)
China called on U.S. officials on Tuesday not to let Taiwanese President Tsai Ing-wen pass through the United States en route to Guatemala next month, days after President-elect Donald Trump irked Beijing by speaking to Tsai in a break with decades of precedent.
Democrats have no good outcomes if they try to oppose Mattis for Defense Secretary (Business Insider)
The nomination of the retired Marine general has put Democrats in a bit of a pickle: Since he hasn't been out of uniform for the statutorily required seven years, he requires a waiver from Congress — giving Democrats an opening to oppose a Trump nominee.
DC Lawmakers Approve Generous Paid Family Leave Benefit (Associated Press)
Lawmakers in the District of Columbia voted Tuesday to impose a new tax on businesses to provide more than half a million workers with eight weeks of paid leave for the birth or adoption of a child, one of the nation's most generous paid family leave programs.
Health and Biotech
Opioid overdoses are nearing record levels in the city that's become a 'mecca' for addicts (Business Insider)
During the first weekend of December, nine people died of apparent drug overdoses in and around Kensington, a neighborhood in northern Philadelphia.
Life on the Home Planet
Syria says it seized nearly 75 percent of eastern Aleppo (Associated Press)
Syrian government forces and allied militias captured Aleppo's centrally located al-Shaar neighborhood from rebels on Tuesday, securing nearly three quarters of the besieged enclave less than two weeks after launching a ground offensive, according to the Syrian military.
Earth's day lengthens by two milliseconds a century, astronomers find (The Guardian)
Astronomers who compiled nearly 3,000 years of celestial records have found that with every passing century, the day on Earth lengthens by two milliseconds as the planet’s rotation gradually winds down.
Crack in Antarctic ice shelf threatens research station (Mashable Asia)
A giant crack in East Antarctica is threatening to cleave off part of the ice where a key research station sits and leave the facility drifting on an iceberg.
Los Angeles heightens security after threat to metro system (Reuters)
Heavy security at subway stations in Los Angeles greeted commuters on Tuesday as federal and local authorities investigated a specific but uncorroborated threat to detonate a bomb at the Metro Red Line's Universal City station.
