Financial Markets and Economy
President-elect Donald Trump promised on the campaign trail to return the US to 4% gross-domestic-product growth during his presidency.
Wall Street's biggest bull for 2017 outlines what would make him turn bearish (Business Insider)
The chief investment strategist at Prudential sees the S&P 500 rising to 2,575 in 2017. No other strategist at a major firm forecast that the index will end that high — about 14% from current levels.
U.S. Stocks Slip as Postelection Rally Eases (The Wall Street Journal)
U.S. stocks pulled back Thursday, as a postelection rally eased heading into the holidays.
Bailing out the world's oldest bank could spark a fresh crisis for the eurozone (Business Insider)
Monte dei Paschi di Siena, the 544-year old Italian bank that has caused countless sleepless nights for investors and politicians alike is on the brink of a government bailout after last minute attempts to rescue it using private money failed.
Optimism in OPEC Output Deal Leads to a Rise in Oil Prices (Fortune)
Oil prices edged up in tepid trading on Thursday, supported by strong U.S. data, a pause in the U.S. dollar rally and optimism that crude producers would abide by an agreement to limit output to prop up prices.
ECB sees inflation surge, firming global recovery (Reuters)
Euro zone inflation will exceed 1 percent at the turn of the year, hitting a level not seen since late 2013, and global growth is picking up speed, the European Central Bank said in an economic bulletin on Thursday.
US justice department accuses Barclays over mortgage mis-selling (The Guardian)
The US department of justice has accused Barclays of jeopardising the financial position of millions of American homeowners over a decade-old mortgage bond mis-selling scandal.
Elizabeth Warren watchdog under siege (CNN Money)
With Warren as the driving force, the Consumer Financial Protection Bureau was created after the financial crisis in 2011 to shield consumers. The CFPB has since established itself as a powerful regulator, unafraid to take on big banks, shady payday lenders and everything in between.
Emerging Market ETFs Break Down, Hit 1 Month Low (ETF Trends)
Emerging market stocks and related exchange traded funds remain one of the weaker areas of the global markets, dipping to a one month low on Thursday.
Limited room for China to tighten policy as debt fear grows (Reuters)
China's leadership is signaling growth will slow slightly in 2017, policy advisers say, as it struggles to strike a balance between supporting the economy with loose credit conditions and preventing a destabilizing build-up in debt.
Hedge Funds: December Outflows “Could Be Ugly” (Barron's)
So far, 2016 remains on track to be one of the worse years ever for hedge funds.
Granted, assets under management remain well above $3 trillion despite continued redemption pressures. But annual flows are virtually set to end 2016 in negative territory for the first time since 2009, and only the third time on record.
The ABC's of 529 college savings plans (Fidelity)
Whether you've got toddlers, teenagers, or even grandchildren, one thing is certain: Paying for college seems to get more expensive every year. Given that the average annual cost (tuition, fees, and room and board) for a four-year, in-state public college is $17,123 for the 2015-2016 tuition year, and $41,028 per year for a four-year private college,1 it's no surprise that college expenses can be overwhelming.
Companies
J.P. Morgan is falling out of analyst favor, and here’s why that’s good for investors (Market Watch)
J.P. Morgan shares, like much of the financial sector, have been on fire since Donald Trump won the election. But for some reason, Wall Street isn’t high on the stock.
Blackstone in Talks to Take Stake in Energy Transfer Partners Assets (The Wall Street Journal)
Private-equity firm Blackstone Group LP is in talks to take a stake in assets owned by Energy Transfer Partners LP, according to people familiar with the matter, as the natural-gas pipeline owner seeks to complete its $21 billion sale to a sister company.
Ericsson Sees Sales Lift From Telecoms and Media Consolidation (Reuters)
Ericsson sees more tie-ups between telecom operators and media companies after AT&T's planned acquisition of Time Warner, offering some hope for the no-growth telecom equipment gear maker, its media chief told Reuters.
Technology
World’s largest hedge fund to replace managers with artificial intelligence (The Guardian)
The world’s largest hedge fund is building a piece of software to automate the day-to-day management of the firm, including hiring, firing and other strategic decision-making.
What Happens When Tech Takes Control of Evolution? (Singularity Hub)
Over the span of a few billion years, diversity of life has flourished on Earth through the process of natural selection. Then, not long ago (relatively), human intelligence evolved.
Samsung's rumored Galaxy A3 is one step closer to reality (CNet)
Samsung's rumored 2017 follow-up to the Galaxy A3 has yet to be officially announced, but could be a step closer to making the jump from rumor to reality. A phone fitting the A3 2017's description was spotted on the FCC's certification website, leading many to believe it's as good as done (products that clear the FCC still may never come to light; that's up to the company).
The law’s the law: Tesla’s updated Autopilot strictly obeys speed limits (Digital Trends)
We’re living in the age of the connected car, and just like your mobile, tablet, or computer, a connected car can update itself anytime, wirelessly. Perhaps the best examples of this come from Tesla, as the brand is constantly updating the safety features and convenience of its vehicles.
Autonomous cars seen as smarter than human drivers (Tech Crunch)
PwC released the results of its latest survey on the future of automotive technology, and it seems Americans are coming around to the idea of autonomous cars, ride hailing and car sharing. So much so that 66 percent of respondents said they think autonomous cars are probably smarter than the average human driver.
Cybersecurity firm finds evidence that Russian military unit was behind DNC hack (The Washington Post)
A cybersecurity firm has uncovered strong proof of the tie between the group that hacked the Democratic National Committee and Russia’s military intelligence arm — the primary agency behind the Kremlin’s interference in the 2016 election.
Politics
Trump corruption fail: Eric Trump’s pre-inauguration pay-for-play scheme collapses (Salon)
Donald Trump isn’t even president of the United States yet and already the people around him are scrambling to cash in on his electoral victory. This includes his two adult sons, Donald Jr. and Eric, who got caught by the Center for Public Integrity setting up a pay-to-play charity event for their father’s inauguration that would have provided donors access to the president in exchange for $1 million.
Trump names his White House communications team (Politico)
Top transition aides will serve as senior members of the incoming White House communications staff, including Republican National Committee strategist Sean Spicer as press secretary, President-elect Donald Trump announced Thursday.
Trump Team Asks State Department To Hand Over Info On Gender Equality Programs (The Huffington Post)
President-elect Donald Trump’s transition team has asked the State Department to provide information on staffing and funding for all its gender-related programs, raising alarm that the equality initiatives may be vulnerable to cuts under the new administration.
Carl Icahn dismisses conflict-of-interest fears in role as Trump advisor on regulations (Los Angeles Times)
As voting returns signaled Donald Trump’s win on election night last month, billionaire investor and Trump supporter Carl Icahn heard the news that stock-market futures were plunging in response.
Trump drops Twitter bomb on Lockheed Martin's F-35 fighter jet (Politico)
President-elect Donald Trump elevated his criticism of Lockheed Martin's F-35 fighter today, saying he's asked Boeing to explore pricing for an alternative to the costly fighter jet.
North Carolina Fails to Repeal Bathroom Law That Prompted Boycotts (NY Times)
After more than nine hours of closed-door meetings, jawboning and complicated legislative stratagems, North Carolina legislators went home in frustration Wednesday after failing to repeal the state law that has prompted economic boycotts, lawsuits, political acrimony and contributed to the defeat of the Republican governor.
The Least Influential People Of 2016 (GQ, Humor)
A long time ago, back when we first started compiling this dumb list of the Least Influential People on an annual basis , I told my editor that we should include Donald Trump on it. He protested, arguing that Trump was such a shameless attention whore that he didn't even deserve to be in the company of conventionally useless narcissists like Dennis Rodman.
Trump calls for an increase in nuclear weapons (Market Watch)
In a tweet, Trump said the U.S. should expand its nuclear capability until the world “comes to its senses regarding nukes.” He offered no further comment and it was unclear what prompted the tweet.
Medicare Pays For A Kidney Transplant, But Not The Drugs To Keep It Viable (NPR)
The federal government will pay more than $100,000 to give someone a kidney transplant, but after three years, the government will often stop paying for the drugs needed to keep that transplanted kidney alive.
Health and Biotech
Mad cow disease is still a threat, but we might finally have a blood test for it (Science Alert)
'Mad cow' disease, or bovine spongiform encephalopathy (BSE), is one of the scariest and strangest conditions of the past 20 years.
Scientists can now sniff out 17 diseases from a single breath sample (Science Alert)
Researchers have invented a device that can sniff out traces of 17 different diseases by analysing the chemical makeup of a person's breath.
Scientists Create Effective Ebola Vaccine, Just A Couple Years After Deadly Epidemic (The Huffington Post)
Researchers have crafted an effective vaccine that can halt the horrifically deadly Ebola virus in its tracks, according to a new report published Thursday by leading global health organizations.
Life on the Home Planet
2016 set to be hottest year on record (DW Made For Minds)
The year 2016 is likely to be the warmest year since records began. According to provisional data, global temperature has already risen by around 1.2 degrees Celsius compared to pre-industrial times.
Mother-of-Pearl Holds the Key to Historical Ocean Temperatures (Scientific American)
A group of researchers think they’ve found a simpler, more accurate way to track historical ocean temperatures: studying nacre, or mother-of-pearl, under a microscope.
Photographer captures images of uncontacted Amazon tribe (The Guardian)
A photographer has captured images of an uncontacted Amazonian tribe after his helicopter flight took a detour to avoid a rainstorm and happened to fly over their longhouse.
