Financial Markets and Economy
Oil Sands Batter Major Explorers' Reserves as Rout Sinks Value (Bloomberg)
Oil-sands investments in Western Canada that gobbled tens of billions of dollars over the past decade are proving an Achilles heel for some of the world’s biggest energy producers.
A definitive breakdown of the gloomy state of Wall Street (Business Insider)
Don't be fooled by the strong rebound in Wall Street trading revenues at the end of 2016: Investment banks still had a lousy year.
Korea Pushes Back Against U.S. Over Currency, Sees China Risk (Bloomberg)
South Korea pushed back against U.S. pressure over its foreign exchange policy and current account surplus, with the central bank governor maintaining that the nation only acts to check extreme swings in the won.
Europe Savors Taste of Brazilian Oil With More Blocks Opening (Bloomberg)
European oil majors given a taste of Brazil may soon be ready for more.
The Bank of England struck back at plans to strip London of a €930 billion daily business after Brexit (Business Insider)
The Bank of England gave a robust defence of London's euro clearing business, saying it offered lower costs and greater financial stability over plans to move it to continental Europe after Brexit.
Japan Stocks Could Surpass Key Technical Level, Nomura Says (Bloomberg)
Several failed attempts by the Topix index to climb past a key technical level have left investors nervous, even amid signs the benchmark may eventually succeed, according to Nomura Holdings Inc.
Emerging-Markets Hedge-Fund Assets Reach Record in '16, HFR Says (Bloomberg)
Emerging-market hedge-fund assets reached a record at the end of last year, thanks to gains in energy prices and a strengthening dollar, according to Hedge Fund Research Inc.
The FTSE 100 is dropping on a busy day for company results (Business Insider)
The FTSE 100 is lower on Thursday morning on a busy day of results for the UK's biggest companies.
Dow eyes 10th day of gains as U.S. stock futures rise on back of oil rally (Market Watch)
U.S. stock futures pointed to small gains for Wall Street on Thursday, setting the Dow average on track to extend its best-record setting streak in three decades.
China Expands Drug Insurance Coverage in Boost to Pharma Stocks (Bloomberg)
China expanded the list of medicines covered nationwide by government insurance for the first time since 2009, a move that sent the shares of Chinese drugmakers soaring.
German Domestic Demand Bolstered Growth in Final Quarter (Bloomberg)
Domestic demand drove German growth in the fourth quarter as trade damped Europe’s largest economy.
European stocks hunt for firm direction as earnings reports pile up (Market Watch)
European stocks ping-ponged between small gains and losses Thursday, as investors sifted through earnings reports and assessed the mixed tone on U.S. interest rates from the Federal Reserve.
`Shock-and-Awe' Campaign Planned Against Johannesburg Inner City (Bloomberg)
Johannesburg municipal authorities are planning to clear the city center’s buildings of unauthorized occupants in a “shock and awe” campaign being considered by its mayor, Herman Mashaba, who’s already drawn criticism for calling some undocumented migrants criminals.
Oil prices regain momentum ahead of U.S. supply data (Market Watch)
Oil prices regained momentum Thursday, but the tug-of-war between ongoing supply cuts in the Middle East and increasing production in the U.S., kept prices range-bound.
Hong Kong Property Stock Rally Gathers Pace on Earnings Outlook (Bloomberg)
A rally by Hong Kong property developers showed little sign of faltering amid optimism rising home sales will boost earnings.
This is when investors should start worrying about rising bond yields (Market Watch)
No matter when the Federal Reserve starts to raise short-term interest rates, there is consensus both within and without the Fed that several are in the works. This makes many people nervous that long-term rates will rise, as well, and usher in a more unfriendly environment for business and consumer borrowing.
Companies
Aramco Competes Against Socar for OMV's Turkish Unit (Bloomberg)
Saudi Arabian Oil Co. and Azerbaijan’s State Oil Co. are competing to buy OMV AG’s fuel-retailing business in Turkey in a deal that may value the asset between $1.2 billion to $1.6 billion, people with knowledge of the matter said.
Uber's work environment sounds even worse than we thought (Business Insider)
A former engineer's claims of sexism at Uber is apparently only the tip of a much deeper problem inside the company's culture, according to a scathing report published on Wednesday.
Peugeot Resumes Dividend as Profit Jumps (The Wall Street Journal)
Peugeot, the French car maker in advanced talks to buy the European operations of General Motors Co., will pay its first dividend since 2010, another sign of the strong resurgence and renewed confidence at a company that was on the brink of financial collapse just four years ago.
HP Revenue Grows Again on PC Rebound (The Wall Street Journal)
HP Inc. said sales rose for a second straight quarter after a prolonged slump, as the personal-computer business showed further signs of life.
Technology
AirMap, an airspace management platform for drones, raises $26 million from Microsoft, Qualcomm, others (Venture Beat)
AirMap, which provides an airspace management platform for drones, has raised $26 million in a Series B round led by Microsoft Ventures, with participation from Qualcomm Ventures, Airbus Ventures, Rakuten, Sony, Yuneec, General Catalyst, and Lux Capital.
This Survey Says Verizon Has the Best Network—And Is Extending Its Lead (Fortune)
The latest survey of wireless service in 125 cities across the country by testing firm RootMetrics found Verizon extending its lead over the other three major carriers.
Tesla may open 3 more Gigafactory locations (CNN)
Tesla (TSLA) said Wednesday it expects to "finalize locations" this year for as many as three new Gigafactories. That would bring the total number to five, including a solar plant in New York.
Tech breakthroughs take a backseat in upcoming Apple iPhone launch (Reuters)
When Apple Inc (AAPL.O) launches its much-anticipated 10th anniversary iPhone this fall, it will offer an unwitting lesson in how much the smartphone industry it pioneered has matured.
Politics
Immigrants Fearing Deportation Under Trump Change Routines (Associated Press)
In Orange County, California, dozens of immigrant parents have signed legal documents authorizing friends and relatives to pick up their children from school and access their bank accounts to pay their bills in the event they are arrested by immigration agents.
Conservatives gather to praise Trump, bury differences (Reuters)
Conservatives are all smiles this week at an annual convention in Washington, celebrating President Donald Trump's win, but beneath the surface lurk tensions central to how Republicans will govern in the next two years and the 2018 election outlook.
Iraqi Forces Push Up to Mosul's Key Military Base By Airport (Associated Press)
Iraqi special forces on Thursday joined the government offensive to rout Islamic State militants from the western half of Mosul, pushing up to a sprawling, IS-held military base on the city's southern edge as police forces advanced toward the adjacent international airport, officials said.
How Liberals and Conservatives Are Reacting to Trump’s Transgender Bathroom Decision (Associated Press)
Comments about the Trump administration decision to rescind federal guidelines allowing transgender students to use public school bathrooms matching their chosen gender identity.
Syrian negotiators arrive for Geneva peace talks (Reuters)
Syrian negotiators arrived separately to meet U.N. mediator Staffan de Mistura in Geneva on Thursday in a low-key start to the first U.N.-led peace talks in almost a year.
President Trump Is Meeting With Firms That Offshore U.S. Jobs on Thursday (Reuters)
President Donald Trump, who has vowed to stop U.S. manufacturing from disappearing overseas, will seek job-creation advice on Thursday from at least five companies that are laying off thousands of workers as they shift production abroad.
Here Are All The Favors Donald Trump Has Performed For Wall Street (The Huffington Post)
Donald Trump built his presidential campaign around two ideas: 1) a corrupt financial establishment had swindled the middle class, and 2) immigrants and foreigners are dangerous.
Life on the Home Planet
Red State America Acts on Climate Change–but Calls It Other Names (Scientific American)
President Donald Trump has the environmental community understandably concerned. He and members of his Cabinet have questioned the established science of climate change, and his choice to head the Environmental Protection Agency, former Oklahoma Attorney General Scott Pruitt, has sued the EPA many times and regularly sided with the fossil fuel industry.
NASA Just Released Travel Posters for Our New Sister Solar System, and They're Cool as Hell (Science Alert)
A few hours ago, NASA announced the discovery of a potentially habitable 'Sister Solar System' just 39 light-years away – boasting seven Earth-sized planets orbiting a star called TRAPPIST-1.
Gene Catalogues Aim to Help Crops Survive Climate Change (Scientific American)
As farmers struggle with a shifting climate, a group of scientists are drilling down to the heart of the matter: crop genetics.
Bomb kills at least eight in shopping district in Pakistan's Lahore (Reuters)
A bomb blast in an upscale shopping center in Pakistan's eastern city of Lahore killed at least eight people and wounded 20 on Thursday, officials said, the latest in a surge of violence that has shaken the country.
