Financial Markets and Economy
Oil Falls as IEA Chief Sees ‘Significant’ Boost to U.S. Output (Bloomberg)
Oil fell in New York, reversing earlier gains, after the head of the International Energy Agency predicted a rebound in U.S. supply.
European Stocks Hold Steady as Investors Prepare for ECB Meeting (Bloomberg)
European shares were little changed as investors prepared for the European Central Bank’s policy meeting on Thursday, when they’ll look for clues as to when the institution may begin curtailing its stimulus measures.
Pound Rescued by May Faces Choppy Waters as Political Risks Loom (Bloomberg)
The pound may have rallied the most since the 1990s after Prime Minister Theresa May promised a parliamentary vote on taking the U.K. out of the European Union, but the currency isn’t out of the woods yet.
Volatile Pound Stokes Life Into Emerging-Market Carry Trades (Bloomberg)
Investors are betting a trade that reaped returns of more than 20 percent last year for borrowing dollars to buy Brazil’s real, Russia’s ruble and South Africa’s rand has further to run — only they’re using the battered British pound to fund long positions in emerging-market currencies.
The 7 most inclusive European economies (Business Insider)
The World Economic Forum (WEF) has published its annual "Inclusive Growth and Development Report," a set of research which includes a ranking of countries according to the "inclusiveness" of their economies.
Asian Shares Gain, Led by Energy Companies on Higher Oil Prices (Bloomberg)
Asian stocks gained, led by a surge in energy companies after oil climbed above $52 per barrel. Japanese shares rebounded as investors picked up depressed shares.
China Charts Course for Opening to More Foreign Investment (Bloomberg)
China has released plans to relax restrictions on foreign investment and make it easier for overseas companies to list on domestic markets, as Premier Li Keqiang pushes ahead with efforts to open up the world’s second-largest economy.
HSBC CEO Stuart Gulliver said trading operations that generate about 20% of revenue for the lender’s investment bank in London may move to Paris, quantifying some of the aftershocks for the UK after Brexit.
U.K. Employment Steady, Wages Pick Up in Resilient Labor Market (Bloomberg)
The U.K. economy lost fewer jobs than expected and wage growth picked up toward the end of 2016, suggesting the labor market remains relatively resilient.
Unemployment in the UK continues to fall after the Brexit vote (Business Insider)
Unemployment in the UK fell once again at the latest reading, with 52,000 fewer people unemployed, according to the data released by the Office for National Statistics.
European stocks wander as corporate updates come into focus (Market Watch)
European stocks searched for firm direction Wednesday, as investors sifted through corporate updates, including better-than-anticipated results from ASML Holding NV.
Asian Shares Gain, Led by Energy Companies on Higher Oil Prices (Bloomberg)
Asian stocks gained, led by a surge in energy companies after oil climbed above $52 per barrel. Japanese shares rebounded as investors picked up depressed shares.
Australia Sells A$9.3 Billion of Bonds in Biggest-Ever Sale (Bloomberg)
The offering was snapped up by investors even as doubts swirl about the country’s top credit rating and the government’s ability to rein in its budget deficit. While credit assessors refrained from taking any action following December’s mid-year budget update, S&P Global Ratings has had a negative outlook on the country since July.
Three money numbers you need to know (Market Watch)
Knowing certain numbers can help you understand how well you’re converting income into wealth, as well as the impact of your spending and tax situation on that process. The following calculations can help you make better decisions.
The pound is falling again (Business Insider)
Normal service has resumed for the pound on Wednesday.
Sterling took off on Tuesday, gaining more than 2.6% against the dollar after Prime Minister Theresa May's speech confirming that the UK will be leaving the single market and opting for a "Hard Brexit."
The 3 investing questions retirees need to ask (Market Watch)
Managing your investment portfolio in retirement can be tricky. Investors need to balance income generation with risk and capital preservation. Getting the balance wrong means you could run out of money.
UK unemployment falls as economy avoids Brexit shock (The Guardian)
Wage growth picked up and unemployment fell in the three months ending November, in the latest sign that the UK economy has so far avoided a Brexit-related shock.
This gold play’s breakout looks enticing as Trump swats at the dollar (Market Watch)
The Dow today just might fall for a fourth straight session, as chatter about a Trump rally is repealed and replaced with talk about Trump volatility.
U.S. Consumer Prices Up 2.1% in December from Year Earlier (The Wall Street Journal)
Americans experienced annual inflation above 2% in December for the first time since mid-2014, a trend that reflects rising gasoline prices and steady consumer demand.
Companies
Hanjin Shipping Soars a Day After Exchange Calls Stock ‘Trash’ (Bloomberg)
One day after a Korean stock exchange official called the shares of Hanjin Shipping Co.“trash,” investors piled in, sending them 15 percent higher.
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Deliveroo wants to hire 300 more UK tech workers to help it take on UberEats and Amazon (Business Insider)
London food delivery startup Deliveroo said on Wednesday that it is planning to hire 300 tech workers in the UK.
The company, which allows people to order food from over 20,000 restaurants that don't typically deliver via an app, said its worldwide sales grew 650% in 2016, despite increasing competition from US heavyweights like Uber and Amazon.
JPMorgan Wants to Prove You’re Getting the Best Currency Trade (Bloomberg)
JPMorgan Chase & Co. says it’s the first dealer to give clients sophisticated outside analysis of their currency trades, betting they will like what they see and become repeat customers.
Citigroup's quarterly profit gets boost from trading (Reuters)
Citigroup Inc (C.N) reported a 7 percent rise in quarterly profit, wrapping up a strong quarter for big U.S. banks, as trading in bonds and currencies surged following the U.S. presidential election.
Target’s Shares Pummeled on Poor Holiday Results (Fortune)
The discount retailer on Wednesday lowered its profit forecast for the year after reporting comparable sales fell 1.3% in November and December, as big gains in its online business were dwarfed by stiff price competition and growing difficulty in getting shoppers into stores.
Technology
Samsung's new phablet looks impressive, but good luck getting one (CNet)
The Galaxy C9 Pro has a 6-inch screen, making it Samsung's latest phablet. It has 6GB RAM, a 4,000mAh battery and an AMOLED 1,920×1,080-pixel display. The catch is, it's only officially available in China.
One limitation with voice assistants like Microsoft's Cortana, Google Assistant, and Siri, is that they aren't great for multitasking. You can't launch Google Assistant by voice while using an app, for example.
This text can crash your iPhone (CNet)
As if receiving a text from an ex isn't bad enough, now there's a far worse kind of unwanted message to worry about. This one can crash your iPhone.
First Android Wear 2.0 devices revealed: Google and LG’s Watch Sport and Watch Style (Venture Beat)
The two companies will unveil these smartwatches on February 9 — at an event for the platform’s official launch — and begin selling them in the U.S. the next day, according to marketing material shared with VentureBeat.
Google Maps may soon offer parking suggestions (Engadget)
Google Maps can already tell you how congested your drive will be, but how about when you arrive? It looks like the app is about to give you at least a decent idea about the parking situation, thanks to a new feature spotted in the latest 9.44 beta by Android Police.
The day the internet stood still (Tech Crunch)
The Internet is a landscape with an endless horizon. Its vastness of information, ideas, sounds, and images is matched only by its constant growth and ceaseless change.
Politics
Everything you need to know about Donald Trump’s inauguration (Politico)
Donald Trump will be inaugurated as the 45th president of the United States on January 20. The ceremony is scheduled to start at 11:30 a.m., with a musical prelude beforehand. Afterward, President Donald Trump and Vice President Mike Pence are slated to participate in the traditional inaugural parade, which is scheduled to start at 3 p.m.
Brexit secretary David Davis today insisted that a comprehensive trade deal between the UK and the EU could be signed in just two years, despite numerous warnings that it could take up to a decade.
Inaugural Speech is Trump's Time To Rise To The Moment (Associated Press)
Tradition suggests it's time for Donald Trump to set aside the say-anything speaking style and rise to the inaugural moment.
U.S. still has a ways to go in meeting Obama’s goal of producing more college grads (Pew Research Center)
In his first address to a joint session of Congress in February 2009, President Barack Obama said that, by 2020, America should “once again have the highest proportion of college graduates in the world.”
Trump's missing Cabinet secretary (Politico)
A behind-the-scenes fight between agribusiness tycoons and members of Donald Trump’s camp who want more diversity in the Cabinet has turned the selection process for Agriculture secretary into a months-long battle.
Health and Biotech
Drug-resistant "nightmare bacteria" are quickly spreading through US hospitals (Science Alert)
Researchers have found evidence that drug-resistant superbugs, which have been labelled "nightmare bacteria", are spreading faster and more stealthily inside US hospitals than previously thought.
First baby born using 3-parent technique to treat infertility (New Scientist)
The girl was born on 5 January in a fertility clinic in Kiev, Ukraine. “With the help of this method, a 34-year-old woman who had suffered from infertility for more than 15 years gave birth to a healthy baby that’s genetically her own,” said a statement from the Nadiya clinic.
Life on the Home Planet
Istanbul nightclub attacker says was directed by Islamic State: report (Reuters)
An Uzbek gunman who killed 39 people in an Istanbul nightclub on New Year's Day told police he had to change target at the last minute to avoid heavy security and acted with direct orders from Islamic State in Syria, a newspaper said on Wednesday.
Big freeze in England sees temperatures drop to -6.5C (The Guardian)
Temperatures in Britain varied by more than 15 degrees on Wednesday morning, with the mercury passing 9C (48.2F) in Scotland and falling to -6.5C (20.3F) in south-east England.
Astronomers have photographed hidden details in the Sun (Science Alert)
Astronomers have managed to reveal all-new details about a great, yawning 'hole' in our Sun that's nearly twice the diameter of Earth.
Snow sweeps across Europe – in pictures (The Guardian)
A cold wave across Europe affected many countries bringing low temperatures and snowfalls in many countries where its not a regular occurrence.
