Financial Markets and Economy
Oil Set for Weekly Gain as Saudis Say Willing to Extend Curbs (Bloomberg)
Oil headed for a weekly increase as U.S. stockpiles retreated from record levels while Saudi Arabia said it’s prepared to continue production curbs in the second half of the year.
Inflation Makes Duke Bootee Wonder How I Keep From Going Under (Bloomberg Benchmark)
Every week, hosts Dan Moss and Scott Lanman bring you a jargon-free dive into the stories that drive the global economy.
Mining's Biggest Loser Lonmin Is Burning Cash to Stay Alive (Bloomberg)
For most of the mining industry, 2017 is turning out to be another good year. The big exception is Lonmin Plc.
Investors are losing confidence in the world’s third-largest platinum producer as it burns through cash to stay afloat, just 15 months after raising about $400 million from shareholders.
U.S. stocks set to trim weekly gain as G-20 summit kicks off (Market Watch)
U.S. stocks looked set to open slightly lower Friday, but to stay on track for weekly gains, with the Group of 20 meeting in Germany watched for clues to how the Trump administration’s protectionist plans are being received.
The Bank of England's most hawkish policymaker thinks people are overestimating a key negative of Brexit (Business Insider UK)
Bank of England policymaker Kristin Forbes believes the wage growth slowdown that many are flagging as a signal of a coming economic shock in the UK is merely a temporary Brexit related blip.
Job Surge Fuels Bidding Wars for Record-Low Supply of U.S. Homes (Bloomberg)
The winning bidder of a Grand Rapids, Michigan, house has been offered almost $20,000 to hand his purchase contract to another buyer. An agent in Nashville, Tennessee, got a property for his client by cold-calling local homeowners. Near Columbus, Ohio, it took a teacher five tries to secure a deal.
European stocks dip ahead of potential trade tension at G-20 gathering (Market Watch)
European stocks moved slightly lower Friday, but hovered around their highest levels in more than a year, with investors turning attention to the meeting of Group of 20 finance officials in Germany.
How to Lose Millions and Still Get Your Bonus (Bloomberg)
A couple of U.S. Steel Corp. executives had to hit a low bar to get a bonus last year. How low? Their divisions could have lost millions of dollars and they’d still get a fat payout.
Germany's finance minister Wolfgang Schäuble, who has previously vowed to take a tough line during Brexit negotiations, says it is in Europe's interest that London remains a "strong" financial centre after it leaves the EU, the BBC reports.
Currency Traders Race to Reform ‘Last Look’ After Bank Scandals (Bloomberg)
Currency traders may not be fast enough, at least when it comes to cleaning up their image.
At issue is a controversial custom called “last look,” which allows market makers to back out of a trade. After allegations of abuse, most major banks have recently taken steps to publicly disclose their trading standards to clients.
One brutal chart shows how much harder it has become to buy a house in the UK (Business Insider UK)
The issues in the UK's housing market are well documented.
Britain simply does not have enough housing, which is pushing prices up and making home ownership unaffordable for much of the population.
Trump meets Merkel; G20 kicks off; Consumers confident? (CNN)
The meeting could be awkward. Merkel is a forceful advocate for free trade and international cooperation, while Trump campaigned on an "America first" platform.
A German Port Pushes Back Against Trump’s Tough Talk on Trade (Bloomberg)
When Michael von Harten started loading cars onto ships in the German port of Bremerhaven 27 years ago, the facility handled some 700,000 vehicles a year. That number has since surged to 2.1 million, fueled by a dramatic increase in trade that has created thousands of jobs and given a big lift to the local economy.
Companies
Yahoo’s Marissa Mayer Gets Reprieve From Hacking Criticism (The Wall Street Journal)
Federal officials this week heaped praise on Yahoo Inc. Chief Executive Marissa Mayer for the company’s cooperation in an investigation of the hacking of hundreds of millions of the site’s accounts.
EON Raises $1.45 Billion in Offering to Fund Nuclear Deal (Bloomberg)
EON SE, Germany’s biggest renewable energy producer, raised about 1.35 billion euros ($1.45 billion) through a share offering that’ll help it reduce debt and pay for nuclear waste storage.
Technology
Apple Plans Two More Chinese Research Hubs as iPhone Sales Slow (Bloomberg)
Apple Inc. has revealed plans to set up two more research centers and boost investment in China, a pivotal market in which the iPhone has been rapidly elbowed aside by local rivals.
Tesla’s $169 Million Battery Play Is Just the Beginning (Bloomberg)
Tesla is ready to power some grids. And not just in California or Australia.
Last week, Elon Musk wagered he could address South Australia’s energy crisis with 100 megawatts (MW) of batteries installed in 100 days or less—“or it’s free.”
Record labels want Spotify's free tier to get a lot less awesome (Business Insider UK)
It was good while it lasted.
Spotify is reportedly about to lose one of its biggest fights — making sure its users get to hear any music that's on its platform, regardless of how much they pay.
The dream for autonomous cars is that ultimately they wil be able to drive themselves totally independently — without any human intervention whatsoever.
Play With Drones And Virtual Reality At San Francisco's High-Tech Escape Room (Forbes)
In the middle of a dark room, Mike Newton, a talent and account manager at Discord, sat cross-legged on the floor. He waved his arms in circles, head turning side to side as he reacted to the action taking place inside the HTC Vive Virtual Reality headset strapped to his face.
Politics
Trump Administration Proposes Big Cuts In Medical Research (NPR)
A "major reorganization" in the National Institutes of Health, which supports most of the nation's research on diseases and treatments. That includes a cut of $5.8 billion, about 20 percent of NIH's $30 billion budget.
Many Trump Voters Would Fell Program Cuts In Budget Proposal (Associated Press)
The closure of a regional airport could force residents of a small town in upper Michigan to drive eight hours to catch a flight. The elimination of funding to keep the Great Lakes clean could hurt business at a waterside Ohio boating club.
Documents Detail Flynn Payments From Russian Interests (Associated Press)
Documenting more than $67,000 in fees and expenses paid before the presidential election to former national security adviser Michael Flynn by Russian companies, a Democratic congressman Thursday asked the Trump administration to provide a comprehensive record of Flynn's contacts with foreign governments and interests.
GOP Health Bill Threatens to Throw Free-Care Burden Back on Hospitals (Bloomberg)
Hospitals such as Tenet Healthcare Corp. and Community Health Systems Inc. have been on a roller-coaster since the inauguration of President Donald Trump, who said during his campaign that “everybody’s got to be covered.”
How the Election Changed the Netherlands (Bloomberg)
Look below at how the country voted in 2012. A sea of red across the north showing where Labor won, and flecks across the rest of the map –- including most of the big cities like Amsterdam and Rotterdam.
Japanese government liable for negligence in Fukushima disaster (The Guardian)
A court in Japan has ruled that negligence by the state contributed to the triple meltdown of the Fukushima Daiichi nuclear power plant in March 2011 and awarded significant damages to evacuees.
Tillerson calls for tighter sanctions against North Korea (The Wall Street Journal)
U.S. Secretary of State Rex Tillerson said Friday the time isn’t ripe for negotiations with North Korea, adding that there is more room for sanctions against Pyongyang as it moves closer to being able to mount a nuclear warhead on a long-range ballistic missile.
In Duterte's Davao, China's vice premier prioritizes deals over disputes (Reuters)
Chinese Vice Premier Wang Yang met Philippine President Rodrigo Duterte's in his home city on Friday, becoming the most high-profile visitor from Beijing since two countries long at odds sought to chart a new course in relations.
Health and Biotech
Lurking HIV Detected by Scientists in a Major Biomarker Discovery (Science Alert)
Sniffing out these hidden caches of the virus is something researchers have been trying to do for decades. Now that we have a lead, the finding could speed up research on a cure.
New autism blood test likely to join ranks of also-rans (New Scientist)
Another day, another test for autism hits the headlines – this time a blood test. But despite the hype, we should not expect it to reach clinics any time soon, and not just because of the usual delays in translating research into reality.
Life on the Home Planet
Is our plastic bottle addiction wrecking the planet? Our live look at the week (The Guardian)
In a move that’s socked many, George Osborne has been appointed as the new editor of the London Evening Standard. Evgeny Lebedev, the owner of the daily paper, announced the appointment on Twitter, saying he was “thrilled” at the news, and described the Cheshire MP as “London through and through”.
Uproar as bomb-detection dog Grizz shot dead at Auckland airport (The Guardian)
Debate has raged in New Zealand as to whether staff at Auckland airport were justified in shooting a bomb-detection dog that escaped onto the airfield, delaying 16 international and domestic flights.
Some corpses may mysteriously heat up after death (Popular Science)
One morning, in a hospital in the Czech Republic, a 69-year-old man died of heart disease. An hour later, as nurses were preparing to move his body down to the lab for autopsy, they noticed his skin was unusually warm.
Just some facts about a $10,000 toilet (Popular Science)
Of all the thirsty necessities in our homes, toilets rank among the worst offenders. They flush fresh water down the drain, need regular rinsing and scrubbing, and filth-ify the whole bathroom—creating even more mess to clean.
Iraqi forces advance into Mosul's Old City, Nuri mosque in sight (Reuters)
Iraqi forces battling Islamic State in Mosul advanced into the Old City and around the al Nuri mosque on Friday trying to seal off a main road to prevent militants sending in suicide bombers.
