Word of the day = defenestration

Marc Ross Daily June.png

Word of the day = defenestration

Marc Ross Daily
December 12, 2018
Curation and commentary from 
Marc A. Ross

Reporting from Alexandria, Virginia 

Marc Ross Daily  = Business News at the Intersection of Globalization, Disruption, and Politics


TOP FIVE

✔️ UK’s May to face a no-confidence vote

✔️ Chinese state tightens grip 40 years after Deng's reforms

✔️ Marriott breach is traced to Chinese hackers

✔️ “proud to shut down the government for border security.”

✔️ Superdry has more than 550 stores
 

GEOECONOMICS

UK’s May to face no-confidence vote amid Brexit disarray: WSJ reports, British Prime Minister Theresa May is set to face a vote of confidence in her leadership after rebel lawmakers from her Conservative Party triggered a vote that could further destabilize the already chaotic Brexit process. 

Theresa May vowed to contest a vote of confidence in her leadership today with “everything I have got.”

Today’s PMQs will proceed.

Are there 158 MPs willing to vote against May?


Vote will happen this evening in London - results expected around 3:00 - 4:00 pm ET

Tory Eurosceptics trigger vote of confidence to seize control of EU divorce.

If PM May survives the vote, under party rules she cannot be challenged again for 12 months - meaning she will most likely lead the Tories into the next general election.

May's team discussed forcing a no-confidence vote weeks ago to strengthen her leadership.

If May loses, there will be a multi-round leadership election in which any Tory MP who can find themselves a seconder can stand.

Backbench MP Jacob Rees-Mogg, chair of the Brexit-supporting European Research Group, says Theresa May should resign.

Why now?  Under Conservative party rules, a leadership challenge is initiated if 15 percent of Tory members of parliament — at the moment 48 MPs — write letters to the chairman of the party’s 1922 Committee of backbench MPs demanding a confidence vote. The 1922 chairman, Sir Graham Brady, determines the date of a confidence vote “as soon as possible in the circumstances prevailing.”

@NicolaSturgeon: Today is a stark reminder that the UK is facing chaos and crisis entirely because of a vicious civil war within the Tory party. What a self-centred bunch they are. They all need to go, not just the PM.

British Chamber of Commerce: "At one of the most pivotal moments for the UK economy in decades, it is unacceptable that Westminster politicians have chosen to focus on themselves, rather than on the needs of the country. The utter dismay amongst businesses watching events in Westminster cannot be exaggerated."

Who could replace May? Boris Johnson, Sajid Javid, Dominic Raab, Jacob Rees-Mogg, Jeremy Hunt, Michael Gove, Amber Rudd, or Matt Hancock

Christmas market attack: A gunman killed three people and injured 13 in a suspected terror attack near a Christmas market in the French city of Strasbourg.

Nikkei: Chinese state tightens grip 40 years after Deng's reforms https://s.nikkei.com/2QqMBnz

"On Dec. 22, 1978, the Communist Party set out a strategy of "reform and opening up," a Deng-led attempt to turn the page on decades of economic stagnation that followed a series of disastrous political campaigns, including the Cultural Revolution and Great Leap Forward."

"Under President Xi Jinping, the state has asserted tighter control over the economy, partially reversing forces set in motion by Deng. As characterized by the phraseguojin mintui -- meaning "the state advances as the private sector recedes" -- the Chinese Communist Party and the state are tightening their grip on business."

"Xi Jinping is a fervent disciple of Mao Zedong, not Deng Xiaoping," said Willy Lam, an adjunct professor at the Chinese University of Hong Kong's Centre for China Studies.


Eurasia Group on the road ahead for the US and China: "It is very unlikely that the US and China will reach an agreement on trade issues by their agreed deadline of 1 March; the more likely scenario is extended negotiations that last through the first half of the year as ... Trump and Xi ... try to avoid further escalation without making deep concessions.

WP: China’s judgment on Huawei case: Anger, patriotism and iPhone boycotts

Huawei CFO released on C$10 million bail: FT reports, Meng Wanzhou must surrender passports and pay for private security guards to accompany her.

Trump said he would intervene in the Justice Department's Meng Wanzhou case if it would serve national security interests or help close a trade deal with Beijing.

WTF?!?

LAT: US investigators point to China in the Marriott data hack affecting 500 million travelers

NYT: Marriott breach is traced to Chinese hackers as USprepares crackdown


The hack was part of a Chinese intelligence effort that also breached health insurers and security clearance databases, people briefed on the inquiry said.

Japan unveils a plan for first aircraft carrier since World War II.

"Once upon a time, the job of an economist was to talk about economics. Now, most of the job seems to be trying to second-guess what politicians will do next." -- UBS' Paul Donovan. 

AMERICAN POLITICS

NYT: Trump threatens shutdown in combative appearance with Democrats

“proud to shut down the government for border security.”

‘This has spiraled downward’: Democrats introduce Trump to divided government: WP reports, during 17 extraordinary minutes of raised voices, pointed fingers and boorish interruptions, House Minority Leader Nancy Pelosi and Senate Minority Leader Charles E. Schumer gave the president a taste of Washington’s new dynamic.

WH COS: Trump says he is looking at 10 or 12 candidates for chief of staff job and Kelly will stay on indefinitely.

Today: Sentencing of Michael Cohen, Trump’s former personal lawyer, after his guilty plea to tax fraud and campaign-finance crimes.

FL-SEN: Rick Scott spent a record $64 million of his own money to win the Florida Senate race.

@Redistrict: In January, House Dems will represent:

79% of Asians
78% of Whole Foods locations
72% of Latinos
66% of Clinton voters
66% of African-Americans
60% of college grads
54% of all Americans
45% of whites
39% of Trump voters
27% of Cracker Barrel locations
20% of America's land area


Why Beto O'Rourke in 2020 = small donors and Facebook: He raised $80 million for his Senate bid - most of that came from online donations. He used Facebook to live-stream videos of everything from his campaign rallies to eating lunch at Whataburger.

Sherrod Brown: Is looking rumpled a path to the presidency? 

No.

MoveOn 2020 presidential straw poll:

O’Rourke 15.6
Biden 14.9
Sanders 13.1
Harris 10
Warren 6.4
Brown 2.9
Klobuchar 2.8
Bloomberg 2.7
Booker 2.6


COMMERCE

Tencent Music public offering priced at $13 per American depositary share.

McDonald's to dial back on antibiotics in its burger meat.

Hitachi nears deal worth up to $7 billion for ABB's power grid business.

Superdry has more than 550 stores in 49 countries.

Google has 'no plans' to launch a Chinese search engine.

Morgan Stanley will lead Uber's IPO and rake in the most fees from a listing valued at as much as $120 billion.

Verizon has cut the value of its Oath media business—a pastiche of recently acquired firms including AOL and Yahoo—by $4.6 billion (almost half its value).

TRENDS + BUZZ

India media size: With nearly 500 million internet users and roughly 530 million smartphone users, India is the second-largest online and smartphone market in the world next to China.

Roughly 40% of India's total population is using smartphones and is accessing the internet.

Cars on the road: About 500 million cars were added to the global car fleet between 2000 and 2017, 75% in developing economies — and 40% in China alone, according to the IEA’s 2018 World Energy Outlook. Today, there are 1.1 billion cars on the road, and the fleet is expected to grow a whopping 80% by 2040. Much of that growth will take place in India, China, and other developing economies.

Throw the bird in the lake: Big e-scooter has unleashed about 1,000 two-wheelers in Oakland — with dozens of them ending up at the bottom of Lake Merritt. This Instagram account is dedicated to discarded scooters: https://www.instagram.com/birdgraveyard/

Beauty: The global beauty market is worth $532 billion.

Paper towels: The world spends about $12 billion on paper towels for home use annually.

Baby boomers are aging alone more than any generation in US history: About one in 11 Americans age 50 and older lacks a spouse, partner or living child.

CULTURE

Time's 2018 'Person of the Year': Killed and imprisoned journalists - "The Guardians." 

Kathie Lee Gifford to leave NBC's 'Today' Show in April.

Google's top US trending search queries for 2018:

1. World Cup
2. Hurricane Florence
3. Mac Miller
4. Kate Spade
5. Anthony Bourdain
6. Black Panther
7. MegaMillions Results
8. Stan Lee
9. Demi Lovato
10. Election Results


SPORT

The Ringer's favorite sports moments of 2018: From the Philly Special to UMBC’s upset to whatever J.R. Smith did in Game 1 of the NBA Finals, here are the sports moments that defined our year: http://bit.ly/2RT5Q6b

More Philly Special: UPenn basketball upsets No. 17 Villanova, 78-75, for the first time since 2002.

Champions League:

Today: All matches @ 3:00 pm ET


Ajax vs Bayern München
Manchester City vs Hoffenheim
Young Boys vs Juventus
Valencia vs Manchester United

Champions League = Through to round of 16: Ajax, Atlético Madrid, Barcelona, Bayern München, Borussia Dortmund, Juventus, Liverpool, Manchester City, Manchester United, Paris Saint-Germain, Porto, Real Madrid, Roma, Schalke, Tottenham Hotspur

Champions League = Can still reach the round of 16: Lyon, Shakhtar Donetsk

Will transfer to Europa League round of 32: Benfica, Club Brugge, Galatasaray, Internazionale Milano, Napoli, Valencia