Financial Markets and Economy
U.S. Stocks Advance After Trump Remarks as Biotech Shares Plunge (Bloomberg)
U.S. stocks rose as investors weighed President-elect Donald Trump’s commitment to policies on economics and foreign relations following his first press conference since the election.
In China, Insurers Sell Risky Products to Fund Risky Investments, Freaking Out Regulators (The Wall Street Journal)
When Han Deqiang decided to plow $15,000 of his savings into life insurance, he wasn’t planning for posterity. Instead, the 27-year-old was jumping into the latest trend in China’s internet-powered investment boom—one that is alarming regulators.
Yen Gains, Japan Stocks Drop After Trump Comments: Markets Wrap (Bloomberg)
The yen strengthened for a fourth day and Japanese stocks retreated after Donald Trump’s first press conference since his election victory gave scant detail on policy. Shares of commodity producers climbed after crude oil surged.
STOCKS RISE: Here's what you need to know (Business Insider)
Stocks jumped around wildly in trading Wednesday, ultimately finishing in the green.
Central Bank Cites Threat to Life as India Cash Mystery Deepens (Bloomberg)
India’s central bank refused to share specific details of Prime Minister Narendra Modi’s ban on high-value banknotes citing danger to life and national security, as the mystery deepens over who took the unprecedented decision.
Why chasing after high-yield dividend stocks is bad news (Market Watch)
Reinvesting dividends accounts for a big chunk of total stock-market returns over the long term, but chasing after high-yielding dividend stocks is one of the worst strategies an investor can pursue, especially in taxable accounts, according to Meb Faber, chief investment officer at Cambria Investment Management.
Why the Lira’s in Trouble: 2017’s Worst Performer in Charts (Bloomberg)
Thought the lira was due a breather after last year’s eye-watering losses? Think again.
These counties will pay the most as mortgage rates climb higher (Market Watch)
Anyone who remembers the double-digit mortgages of the 1980s probably thinks the furor over the mortgage rate spike of 2016 is a bit silly.
1930s-Like Demographic Headwinds Are Restraining the U.S. Economy (Bloomberg)
All eyes are on President-elect Donald Trump's imminent arrival at the White House and whether his administration follows through on an agenda that — when it comes to the economy — features a growth target almost double that of recent years.
Bank ETFs still favored as investors see growth and Trump bump ahead (Market Watch)
Exchange-traded funds that track the financial sector, one of the most popular and successful trades of 2016, have maintained their upward momentum in the new year, with investors continuing to pour money into the group.
Suddenly, Home Sale Agreements Are Falling Apart Across the U.S. (Bloomberg)
Spending months to find the perfect home in your price range, only to have your mortgage application rejected, or a home inspection turn up expensive repairs, is a nightmare—one that is coming true with increasing frequency, according to a new report from real estate listings website Trulia.
‘Chicken Tax’ Talk Revives as Auto Makers Strive to Sell More Pickups (The Wall Street Journal)
A half-century-old clash over chicken exports is cropping up in conversations at the Motor City’s car show this week as auto executives hash out their responses to President-elect Donald Trump’s pressure on U.S. companies manufacturing goods abroad.
Wall Street’s Win-Win with Trump (Consortiumnews.com)
During the 2016 campaign, pundits claimed that Donald Trump’s proposed economic policies would bring the end of the world as we know it. Moody’s Analytics predicted his plans, particularly those involving trade and the budget deficit, could trigger a severe recession. Others asserted that Trump’s election would cause a severe stock market selloff.
Obama Antitrust Enforcers Won’t Bring Action in Airline Probe (The Wall Street Journal)
After a lengthy probe, the Justice Department hasn’t found evidence that merits an antitrust case against the airline industry for collusion between carriers, according to people familiar with the matter.
Japan Turns to Asia’s Fountain of Youth as Abe Seeks Trade Ties (Bloomberg)
Japan’s Prime Minister Shinzo Abe begins a six-day tour of Asia-Pacific nations on Thursday that includes the region’s youngest and fastest-growing economies, seeking to strengthen ties as growth at home lags.
Companies
Uber signs deal with Dubai regulator after pricing rows (Reuters)
Ride-hailing service Uber [UBER.UL] signed an agreement with Dubai's transport authorities on Wednesday to become fully regulated after a series of clashes over pricing and availability.
A Trump Tax Cut Could Add $8.2 Billion to Reynolds Price Tag (Bloomberg)
When British American Tobacco Plc bid $47 billion last year to buy the 58 percent of Reynolds American Inc. that it doesn’t own, the coast was clear. BAT’s existing stake nullified the threat of counterbids and regulatory issues looked non-existent. Then Americans voted in Donald Trump.
J&J, Actelion Said to Reach Tentative Agreement on Price (Bloomberg)
Johnson & Johnson has tentatively agreed with Actelion Ltd. on a price to acquire the Swiss biotechnology company, people with knowledge of the matter said, and talks are now focused on valuing what would be a new unit that would house the research and development assets.
Alphabet Says It Shut Down Titan Drone Internet Project (Bloomberg)
In 2014, Google and Facebook Inc. vied to acquire Titan Aerospace, a maker of high-altitude, solar-powered drones. Google won the bidding, so Facebook purchased its own company, which was building a huge glider called Aquila.
Technology
Toyota president met Pence in Washington, company says (Reuters)
Toyota Motor Corp (7203.T) on Thursday said that company President Akio Toyoda met with U.S. Vice President-elect Mike Pence in Washington earlier this week as the incoming U.S. administration pressures automakers to build more cars locally.
Volkswagen faces reforms, oversight for three years under U.S. settlement (Reuters)
Volkswagen AG, as part of a $4.3 billion settlement with U.S. regulators, on Wednesday agreed to sweeping reforms, new audits and oversight by an independent monitor for three years to resolve diesel emissions cheating investigations.
Twitter ditches its small business tool (Engadget)
Well, that didn't last long. Twitter started publicly testing its Dashboard tool in June to help small businesses connect with you online, but the social network has revealed that it's closing down the feature mere months later, on February 3rd.
Big Is Beautiful on China's Roads, Where SUVs are Edging Out Sedans (Bloomberg)
Li Yechen waited four months for his sold-out SUV to arrive at a Chinese auto dealer. He was determined to buck tradition and bypass the trusty sedan that’s a hallmark of the nation’s highways.
New fertility procedure may lead to 'embryo farming', warn researchers (The Guardian)
A new lab procedure that could allow fertility clinics to make sperm and eggs from people’s skin may lead to “embryo farming” on a massive scale and drive parents to have only “ideal” future children, researchers warn.
FarmLogs raises $22 million to help farmers improve crop yield with big data (Venture Beat)
Data-focused crop-management startup FarmLogs has raised $22 million in a funding round led by Naspers Ventures, the VC arm of South African media giant Naspers, with participation from existing investors Drive Capital, Huron River Ventures, Hyde Park Venture Partners, SV Angel, and Y Combinator president Sam Altman.
Crawl With Analytics Before Running With Artificial Intelligence (Forbes)
As we head into 2017, artificial intelligence (AI) is an emerging technology trend that is generating increasing buzz among business leaders of both start-ups and well-established companies.
The invasion of the selfie drones (Venture Beat)
Drone makers seem to have figured out that, instead of taking pictures of our neighbors’ backyards, what we really want to do is find new ways to take pictures of ourselves.
Apple's weird-looking AirPods are already winning (CNet)
The AirPods began selling December 13, immediately upsetting Beats headphones, the previous leader in the category. Since Apple also owns Beats, that gives the Cupertino, Calif., titan just over 40 percent of the current market for wireless headphones among online buyers. Bose is the next-largest independent brand, at 16 percent share.
Politics
Trump accuses U.S. spy agencies of Nazi practices over 'phony' Russia dossier (Reuters)
President-elect Donald Trump escalated a fight with U.S. spy agencies on Wednesday, just nine days before he takes over their command as president, and accused them of practices reminiscent of Nazi Germany.
For Russia, U.S. election meddling claims strip Trump win of luster (Reuters)
The Kremlin says U.S. intelligence agency allegations it ran an influence campaign to help President-elect Donald Trump win the White House are false. But if U.S. spies are right, Moscow may wish it hadn't bothered to meddle in the first place.
Trump Said to Be Told of Unverified Russian Intelligence (Bloomberg)
U.S. intelligence officials have informed President-elect Donald Trump about unsubstantiated reports they’ve received that the Russian government had compiled potentially damaging personal and financial information on him, a person familiar with the situation said.
Obama Urges Unity in Farewell Speech (The Wall Street Journal)
In a farewell address to a hall filled with the activists who helped him become the first black American president, Barack Obama Tuesday urged all Americans to unite to protect the nation’s democracy, which he said is being threatened by outside forces as well as tensions within.
Northern Ireland will still have say in Brexit preparations: PM May (Reuters)
Prime minister Theresa May said on Wednesday that Northern Ireland would continue to have a say in Britain's preparations for leaving the European Union, despite the likelihood of fresh elections in the province.
Tillerson Veers From Trump Line as Russia Looms Over Hearing (Bloomberg)
Under aggressive questioning centered on U.S.-Russia relations, Secretary of State nominee Rex Tillerson showed he isn’t entirely in lockstep with President-elect Donald Trump on key foreign policy issues he’d face as America’s top diplomat.
Head Of Ethics Office Says Donald Trump’s Conflict-Of-Interest Plan Is ‘Meaningless’ (The Huffington Post)
In an extraordinary move, Office of Government Ethics Director Walter Shaub publicly stated on Wednesday that President-elect Donald Trump did not consult with his office to formulate his plan to hand his billion-dollar real estate and licensing company off to his two adult sons.
Kelly Distances Himself From Trump Over Border Wall, Russia (Bloomberg)
President-elect Donald Trump’s nominee for secretary of Homeland Security outlined differences in opinion with his future boss on border security and on Russia’s involvement in the 2016 election and promised “full candor” to a congressional committee considering his appointment.
Italy’s New Prime Minister in Intensive Care After Emergency Heart Procedure (The Wall Street Journal)
Italian Prime Minister Paolo Gentiloni had an emergency surgical procedure to clear an obstructed coronary artery and is recovering in the hospital, his spokeswoman said.
Relatives' U.S. bribery case rains on ex-U.N. chief's homecoming (Reuters)
A U.S. bribery case against two relatives has cast a pall over former United Nations chief Ban Ki-moon's planned return this week to South Korea, where he is expected to launch a bid to run for president.
Health and Biotech
Why we need to keep an eye on whether a blood infection in cattle is linked to breast cancer in humans (The Conversation)
Humans began domesticating animals for food over 10,000 years ago, cultivating a close relationship with animals over the following millennia. Like humans, animals can get sick, and sometimes infections pass between humans and animals.
Life on the Home Planet
Chinese bomber flies around contested Spratlys in show of force: U.S. official (Reuters)
A Chinese H-6 strategic bomber flew around the Spratly Islands over the weekend in a new show of force in the contested South China Sea, a U.S. official said on Tuesday.
Istanbul Covered in Snow (NY Times)
A strong blizzard brought the heaviest snowfall since 2009 to the Turkish city of Istanbul in the last week.
The Milky Way's black hole could be blasting out 'spitballs' the size of planets (Science Alert)
Astronomers have found evidence that the Milky Way's black hole might be propelling giant, planet-sized objects into the Universe – and there could be one just a few hundred light-years from Earth.
