Financial Markets and Economy
Bitcoin Surges Above $900 on Geopolitical Risks, Fed Tightening (Bloomberg)
Bitcoin headed for its biggest weekly jump since June as rising geopolitical risks boosted demand for alternative assets.
U.K. Current-Account Deficit Widens; GDP Growth Revised Up (Bloomberg)
The U.K. current-account deficit widened in the third quarter as Britain posted its worst trade performance in almost three years.
A Rising Euro Poses a Threat to Parts of Bloc (The Wall Street Journal)
BRUSSELS — The euro is overvalued by between 7% and 8% relative to other major currencies, and a further rise could be a "serious concern" for the more open euro-zone economies, the European Commission said.
Deutsche Bank, Credit Suisse Settle U.S. Probes as Barclays Sued (Bloomberg)
Deutsche Bank AG and Credit Suisse Group AG agreed to pay a combined $12.5 billion to resolve U.S. investigations into sales of the toxic debt that fueled the financial crisis, putting behind them a major dispute that had weighed on their shares and raised questions about their turnaround plans.
Oil declines as investors cash in on profit ahead of the holidays (Market Watch)
Brent crude LCOG7, -1.04% the global oil benchmark, fell 51 cents, or 0.9%, to $54.55 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures CLG7, -1.10% were trading down 48 cents, or 0.9%, at $52.47 a barrel.
Asian Stocks Record Week of Losses as Australia Eventually Caves (Bloomberg)
Asian shares fell for four out of five days this week, taking the lead from U.S. equities that declined as Treasuries and oil retreated.
How cranky are consumers about using chip cards? (Market Watch)
The survey asked more than 2,000 American adults what they know about EMV technology and how they feel about it. Responses indicate that despite the mostly positive views of EMV, there’s still confusion about using chip cards, and some consumers greatly overestimate how long it takes to pay with EMV.
China's Stalling Bond Engine Creates a Policy Dilemma (Bloomberg)
China’s roaring bond engine is stalling heading into the new year, posing a quandary for policy makers as they try to curb leverage while keeping economic growth on track.
Retailers Make 11th-Hour Push to Lure Last-Minute Shoppers (The Wall Street Journal)
Traditional retailers are pulling out all the stops to attract last-minute holiday shoppers in the final days before Christmas, even as Amazon.com Inc. steps up its own efforts to appeal to procrastinators.
European stocks waver before the holiday, with banks in the spotlight (Market Watch)
European stocks wavered Friday, with the banking sector again in focus after settlements with U.S. regulators, as the Italian government prepared a bailout for troubled lender Monte dei Paschi di Siena SpA.
Techs lead Asia rise; Nikkei 225 ends at 3-month high (Market Watch)
Asian markets finished mostly higher Tuesday as technology stocks tracked gains in their U.S. counterparts and a weaker Japanese yen helped pull exporters higher in Tokyo, lifting the Nikkei 225 to its highest closing level in three months.
Dubai Stock Markets to Merge Amid Debt Woe (The Wall Street Journal)
DUBAI — Dubai Financial Market said Tuesday it will buy rival exchange operator Nasdaq Dubai for $121 million, after the bourse intended as a regional hub for foreign investors became the latest victim of the sheikdom's economic crisis.
Europeans Are Getting Poorer, And More Unequal (Bloomberg)
Ten percent of euro-area households own more than half the region’s wealth, according to a European Central Bank survey published Friday. A standard measure of inequality increased “slightly” and almost all households were worse off in 2014, the cut-off for the survey, compared with the previous poll in 2010.
Strategists Play Rupee Via Singapore Dollar as Economies Diverge (Bloomberg)
Go long on the Indian rupee while shorting the Singapore dollar. That’s emerging as one of the favorite trades for 2017 as strategists make a play on the diverging outlook for the two Asian nations.
FBI Probes Hack at Citibank (The Wall Street Journal)
The Federal Bureau of Investigation is probing a computer-security breach targeting Citigroup Inc. that resulted in a theft of tens of millions of dollars by computer hackers who appear linked to a Russian cyber gang, according to government officials
Deutsche Bank Says No Indication It Breached Sanctions in Russia (Bloomberg)
Deutsche Bank AG, which is being probed over whether it helped investors illegally transfer billions of dollars out of Russia, said an internal review provided no indications that it breached sanctions in the country.
WTO backs ruling to loosen China media imports (Market Watch)
The WTO had ruled in August that the Chinese government must stop forcing U.S. artists and production companies to use state-controlled distributors, and must allow foreign companies to sell music online.
UK economy remains in recession (BBC News)
It means that officially the recession has not yet ended. Analysts believe that fourth quarter figures will show the economy returning to growth.
The news disappointed those who had expected a contraction of 0.1%.
Are S&P 500 Growth Projections Realistic? (Stone Fox Capital, Seeking Alpha)
While reading through this Bloomberg article on the record prices for M&A deals, I uncovered this little nugget: analysts now expect 2011 earnings of S&P500 stocks to reach nearly $95. Considering that before the crash those corporations were making roughly $100, the economy is expected to bounce back much more then the headlines we see every day suggest.
Companies
JP MORGAN ASSET MANAGEMENT: 5 shock predictions for 2017 (Business Insider)
2016 will go down in history as one of the most surprising years in recent political and economic history.
The year has been defined by the Brexit vote, the election of Donald Trump as US president, and the resignation of Italy's prime minister.
G4S should be a failed company by now. But the government won’t allow it (The Guardian)
When is a private sector company not a private sector company? When it is repeatedly bailed out by government as soon as it finds itself in a fix. And G4S is not any old private sector company.
Technology
An electric VW Microbus will join Wolfsburg’s EV lineup (Market Watch)
After years of teasing the public with Microbus concepts, some of which actually looked pretty close to the original thing, VW VW, +0.00% will resurrect the popular 1960s MPV as an electric vehicle. Autocar reports that a production version of the recently seen BUDD-e concept will use the MEB platform alongside the ID, which recently made its debut in concept form at the Paris motor show.
Baidu Says a $1 Billion IPO for Its Video-Streaming Site Is Not in the Works (Fortune)
Chinese internet giant Baidu said on Friday that reports it is currently pushing for an initial public offering for its video-streaming site iQiyi.com are inaccurate.
Most Autopilot features could come to Teslas with updated hardware next week (Tech Crunch)
Newer Tesla Model S and Model X owners get a big benefit vs. their predecessors – all the sensors and computing power onboard needed to achieve full self-driving when the software’s ready.
How High-Tech Toys Are Making Me Rethink Playtime With My Son (TIME)
The little wooden trains — the darling toy of generations of well-meaning parents — can barely hold my 2-year-old son’s attention for fifteen minutes before he tramples the tracks like a giant toddler monster. This is distressing on multiple levels, not the least of which being: What does an overworked guy like me need to do to get some low-impact dad time?
Eva bot wants to send gifts to your business clients (Venture Beat)
It’s the season for gift giving, and while we shop for family members or a significant other, Eva bot is helping businesses send gifts to their clients and top customers.
Politics
Congress Should Investigate Russia Along With Donald Trump’s Finances (TIME)
Donald Trump’s refusal to take seriously Russian interference in the presidential election is darkening the clouds that already hang over the legitimacy of his victory.
Donald Trump and Rex Tillerson: Conflict Ahead? (Fortune)
At first glance, President-elect Donald Trump seems to be making his cabinet in his own image. Exhibit A, the theory goes, is Trump’s secretary of state nominee: Rex Tillerson. Like Trump, the Exxon Mobil CEO is well compensated, confident, and content with a fossil-fueled future.
Obama planning farewell speech in Chicago next month (Politico)
President Barack Obama is preparing a major speech in Chicago in early January as he prepares to leave office, according to two sources with knowledge of the event.
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Trump can lift some Russia sanctions. But it won't be easy. (Vox)
Donald Trump and his surrogates have suggested that they would consider giving Vladimir Putin a multibillion-dollar gift by lifting some of Washington’s onerous sanctions on Russia. And the incoming president’s pick for secretary of state, Exxon Mobil CEO Rex Tillerson, has ties to Putin and has panned sanctions against Moscow in the past.
Donald Trump Reportedly Goes Nuclear, Says 'Let It Be An Arms Race' (The Huffington Post)
President-elect Donald Trump offered “Morning Joe” co-host Mika Brzezinski a shocking explanation Friday for his alarming Thursday tweet on nuclear weapons, the journalist reports.
Senate’s random disclosure rules stoke Trump Cabinet clash (Politico)
Elaine Chao has already revealed that she’ll get paid for serving on three corporate boards as she moves back into the government as Donald Trump’s chosen transportation secretary. Rex Tillerson, on the other hand, hasn’t even had to publicly name his four children ahead of his confirmation hearing to become secretary of state.
Health and Biotech
A Vaccine for Cancer? (Scientific American)
For more than a decade researchers have been trying to supercharge human defense systems against cancer with the help of a vaccine. These injections are not designed to prevent cancer from starting. Instead they provide a patient's immune system with intel on what the enemy—cancer cells—looks like.
Ebola vaccine proves 100 percent effective in Guinea trial (Engadget)
An Ebola vaccine has proven to be 100 percent effective during test trials in Guinea. The shot has yet to be approved by a regulator, but Gavi, the Vaccine Alliance, has already committed $5 million so a stockpile of 300,000 doses can be produced.
Life on the Home Planet
Bird Flu Infects Seven People in China This Month, Killing Two (Associated Press)
China has reported at least seven cases of bird flu in humans across the country this month, including two deaths, as authorities take steps to guard against an outbreak.
A weather buoy near the North Pole just hit melting point (Science Alert)
A weather buoy floating 144 km (90 miles) south of the North Pole registered 0.4 degrees Celsius (32.7 Fahrenheit) yesterday, and if the North Pole follows suit as expected, it will have officially hit melting point.
Berlin market attack suspect killed in police shootout in Italy (Reuters)
Italian police shot dead the man believed to be responsible for this week's Berlin Christmas market truck attack, killing him after he pulled a gun on them during a routine check in the early hours of Friday.
A history of global living conditions, in 5 charts (Vox)
A recent survey asked, “All things considered, do you think the world is getting better or worse, or neither getting better nor worse?” In Sweden, 10 percent thought things are getting better, in the US the figure was only 6 percent, and in Germany only 4 percent. Very few people think the world is getting better.
Passengers leaving hijacked plane in Malta (Reuters)
Passengers walked down the steps from a hijacked plane at Malta International Airport on Friday, and Malta's Prime Minister Joseph Muscat tweeted that a first group of 25 had been freed and the release of another 25 was under way.
