Amazon

Bloomberg Sound ON: Trump tariffs, national emergency, and Amazon (Podcast)

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Bloomberg Chief Washington Correspondent Kevin Cirilli delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.

Kevin discussed the fallout from Amazon’s decision to drop their NYC expansion plans, Trump’s national emergency declaration to build a wall and the progress on trade talks with China with guests Marc Ross, founder of Caracal Global and Bloomberg News Congressional reporter Anna Edgerton.

Listen here: https://bloom.bg/2SHtOFS

Chinese Investment, Brexit, Harley-Davidson, Uber, Amazon, Iceland, Italy

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Chinese Investment, Brexit, Harley-Davidson, Uber, Amazon, Iceland, Italy

Marc Ross Daily
June 25, 2018
Curation and commentary from Marc A. Ross

Reporting from Alexandria, Virginia

Marc Ross Daily  = Business News at the Intersection of Global Politics + Policy + Profits

Subscribe here
https://goo.gl/bSQKwA

TOP FIVE

✔️ US plans curbs on Chinese investment, citing security risk

✔️ Erdogan claims victory in Turkey elections

✔️ 2 years on, Brexit vote has taken a toll on UK economy

✔️ Harley-Davidson to shift some production of motorcycles

✔️ Uber is appealing a ban in London

ROSS RANT

What global business needs to know about Xi

Earlier this year, Chinese Communist Party big boss Xi Jinping broke with a 25-year tradition by unveiling a new senior leadership group that includes no clear potential heirs, raising the chances bigly that he will stay in office beyond 2022. 

His lengthy stay in office was ensured as the rubber-stamp legislative body in March passed a set of constitutional amendments removing term limits for the office of president.

The consolidation of power in the hands of one man is a departure from the collective leadership that guided China through decades of historical and impressive economic growth and consumer stability. Today's top leadership reveal is a return to China's cultural code of imperial command.

He's now seen as so powerful that Forbes ranked Xi as the most powerful and influential person in the world, dethroning Vladimir Putin who held the record for 5 consecutive years.

What does it mean for global business? How will he use this power? Does the C-Suite commit or retreat?

As always, global business and the Davos crowd hopes a stronger Xi will now be able to push through bold economic and financial reforms.

I don't see it.

Xi is beholden to China and not the shareholders of the world's Western-based blue chip companies.

Xi and his party ideologues coined the phrase "Chinese Dream" to describe his overarching plans for China as its leader.

Xi's plans and leadership enhancement does little to change the ethos that to invest and manage a business in China you need fortitude, patience, and need to think in China for China. Capital controls and other investment barriers remain, while debt soars.  

If you sell a commodity and consumer packaged good and service, all is well, and there will be continued access and success in the Middle Kingdom.

If you are a bank, a tech company, an oil exploration concern, a biotech startup, a developer of new energy vehicles, you best buckle-up. Your business model is seen as a challenge to where Xi wants to take China, and the Great Wall just got higher.

GEOECONOMICS

US plans curbs on Chinese investment, citing security risk: Bloomberg reports, under the plan, the White House would use one of the most significant legal measures available to declare China’s investment in US companies involved in technologies such as new-energy vehicles, robotics and aerospace a threat to economic and national security, according to eight people familiar with the plans. Treasury Secretary Steven Mnuchin, in a report scheduled to be released on June 29, will suggest administering that law through an inter-agency government panel called the Committee on Foreign Investments in the US, or CFIUS, the people said, requesting anonymity to discuss the plans.

FT: Trump targets China investments as trade war heats up

WSJ: Trump plans new curbs on Chinese investment, tech exports to China

Politico: Trump gets ready to slap China with investment restrictions, export controls

FT - Editorial: US tariffs pose a danger to the global economy
: Innovation and productivity will be casualties from a trade war.

Draft legislation may increase pressure on small Chinese e-commerce firms to fight fakes: SCMP reports, China’s draft e-commerce law may increase pressure on small online retail companies to fight the sale of counterfeit products on their platforms, as lawmakers aim to make internet retail site operators directly liable for such online transactions.

Ozone pollution: Scientists say new production of a banned industrial chemical is damaging the ozone layer. Investigations by the NYT and an independent environmental group led to factories in China.

Expect Xi to aim charm offensive at Abe next: Nikkei reports, China seeks to build 'network of global partnerships' to expand influence.

China cut its required reserve ratio by half a percentage point for some banks, unlocking about 700 billion yuan ($108 billion) of liquidity. 

China is trying to turn itself into a country of 19 super-regions: The planned city clusters are far larger than any others around the world. https://econ.st/2tCtoB8

Japan Times: Japan considers crime prediction system using big data and AI

Nikkei: Trump car tariff threat sends Japan on
search for escape route

A 25% levy could mean $21bn in lost earnings for Toyota, Nissan and peers

Saudi Arabia ended a driving ban for women.

FT: Erdogan claims victory in Turkey elections

The Times: Erdogan tightens grip on power as opposition routed

WP: If they needed to fend off war with Russia, U.S. military leaders worry they might not get there in time


"Humvees could snarl behind plodding semis on narrow roads as they made their way east across Europe. U.S. tanks could crush rusting bridges too weak to hold their weight. Troops could be held up by officious passport-checkers and stubborn railway companies."

Salvini’s League makes gains in Italy’s local polls: FT reports, the capture of leftwing strongholds by far-right populists unsettles financial markets.

Bloomberg: Italy wants to put a million electric cars on the road. Price: $10 billion

Policing for Trump visit to Britain will cost £5m: The Times reports, protecting Trump, whose visit is expected to draw mass protests, is expected to require between 5,000 and 10,000 officers working overtime for the visit, due to start on July 12. Riot vans, search dogs for firearms and explosives, helicopters, mounted officers, public order units, protest removal units and evidence-gathering units will join counterterrorism and specialist protection officers to guarantee the US president’s safety. They will need support from civilian staff in control rooms, analysts, researchers and police community support officers to man road closures.

Brexit’s big short: How pollsters helped hedge funds beat the crash: Private polls—and a timely ‘concession’ from the face of Leave—allowed the funds to make millions off the pound’s collapse. https://bloom.bg/2tCm34y

Two years after Brexit vote, British leaders still tied in knots over how to leave Europe https://wapo.st/2ysGcQe

2 years on, Brexit vote has taken a toll on UK economy: AP reports, while it’s still unclear what Brexit will look like when it happens next year, the decision to leave has already had a clear effect on the economy: households are poorer, companies are more cautious about investing, and the property market has cooled.

Nigel Farage’s last laugh: Politico reports, two years after the Brexit vote, the British Euroskeptic and Trump enthusiast is building a second career on social media.

Iceland: From crisis to hotspot, 10 years on from the financial crisis http://bit.ly/2tAwjdB

Mexico’s leftist ‘Amlo’ weighs up Trump challenge: FT reports, would-be president and foreign policy neophyte faces test north of the border.

LAT: Andres Manuel Lopez Obrador, the front-runner in Mexico's presidential race, greats supporters before speaking at a campaign rally in Chihuahua. 

Mexico goes to the polls on July 1.

AMERICAN POLITICS

A trade war with China could hit these communities hardest: WP reports, the latest tariffs announced by China on June 15 would tax goods that accounted for about $45 billion in US exports last year. It’s a tiny speck of the nation’s thriving overall economy. But those tariffs are no broadside threat. They’re targeted with laserlike precision at farmers, ranchers and certain manufacturing workers, as well as at the local economies of rural and small-town America.

“If export markets get shut off, I could see us getting to the point where we’re dumping our milk in the fields. It’ll be a big ripple effect through the state.” -- Jeff Schwager, president of a longtime cheese producer in Wisconsin.

Bloomberg: Harley-Davidson to shift some production of motorcycles out of US after EU tariffs

‘We’re riding a tiger’: The Iowa GOP bets it all on Trump: Politico reports, the president’s trade war could cripple the state, but Republicans trust in him as negotiator-in-chief.

Mattis is out of the loop and Trump doesn't listen to him, say officials: NBC News, on Iran, North Korea and other major issues, the defense secretary has been out of the loop

Impeach Trump? Even Democrats who despise the president can't agree on a strategy for the midterm election: LAT reports, advocates like Tom Steyer see it as the only way to rouse Democratic voters who might otherwise sit out the midterm elections. But many Democrats fear it will antagonize Republicans and spur them to the polls.

The power of Nancy Pelosi: Can the Democrats' polarizing leader chart a path to victory in the 2018 midterm elections? https://rol.st/2tFFzgS

No. She's got to go.

RCP Generic Houe Ballot: DEM +6

ENTERPRISE

Uber is appealing a ban in London.

Tesla may be profitable in the second half of this year partly because of tax credits sold to Nevada casinos. 

General Electric may soon sell its distributed power business division to private-equity outfit Advent International.

ZTE is expected to deposit $400M in an escrow account in a U.S. bank in the "next couple of days," the last step it must take before a ban on US suppliers can be lifted. 

Bitcoin fell below the $6,000 mark on Friday for the first time since February.

Amazon’s private label business is booming.

Apple will fix your broken MacBook and MacBook Pro keyboards for free.

TRENDS

18 wheelers: The trucking industry is about 50,000 drivers short.

CULTURE

HBD: Ricky Gervais, comedian, actor, The Office (2001-03), and writer, 57

LAT: Full vending machines. Pot on the pillow. What some California hotels are doing to attract marijuana smokers. 

SOTD

A Tribe Called Quest - Check The Rhime https://goo.gl/GPwnbB

SPORT

Can the Lakers land LeBron James?

Politics Ensnare Salah and Switzerland at World Cup: NYT reports, Mohamed Salah was said to be considering retiring from Egypt over interactions with a Chechen politician, and two Swiss players caused a firestorm by displaying an Albanian symbol.

Switzerland's Xhaka and Shaqiri charged by FIFA over Serbia goal celebrations: Guardian reports, FIFA has opened disciplinary proceedings against Switzerland’s Granit Xhaka and Xherdan Shaqiri after they celebrated their goals during a 2-1 World Cup win over Serbia in Kaliningrad by performing an Albanian nationalist symbol.

LAT: Argentina's lack of talent and philosophy are making it nearly impossible for Lionel Messi to succeed

World Cup matches today - Matchday 3 of 3:

Saudi Arabia v Egypt @ 10:00 a ET

Uruguay v Russia @ 10:00 am ET

Iran v Portugal @ 2:00 pm ET

Spain v Morocco @ 2:00 pm ET


World Cup teams qualified for the knockout stage (Sweet Sixteen) so far:

Russia
Uruguay
France
Croatia
England
Belgium

World Cup teams that will not advance to the knockout stage so far:

Egypt
Saudi Arabia
Morocco
Peru
Costa Rica
Tunisia
Panama
Poland


World Cup 2018, leading goal scorers:

Harry Kane: 5
Cristiano Ronaldo: 4
Romelu Lukaku: 4
Denis Cheryshev: 3
Diego Costa: 3
Ahmed Musa: 2
Artem Dzyuba: 2
Mile Jedinak: 2
Luka Modric: 2
Eden Hazard: 2
Philippe Coutinho: 2
John Stones: 2

Chinese Communist Party, Trade Talks, Macron, Pompeo, Amazon

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Chinese Communist Party, Trade Talks, Macron, Pompeo, Amazon

Marc Ross Daily
April 23, 2018
Curation and commentary from Marc A. Ross

Reporting from Amsterdam, Netherlands

Marc Ross Daily  = Global Business News at the Intersection of Politics + Policy + Profits

Subscribe here
https://goo.gl/bSQKwA

TOP FIVE

✔️ Foreign business and the Chinese Communist Party

✔️ China and US poised for fresh trade talks

✔️ How China is buying its way into Europe

✔️ Senate panel poised to vote against backing Pompeo

✔️ Amazon to double down on groceries

ROSS RANT

Foreign business and the Chinese Communist Party - additional stress to US-China commercial relations

It is widely agreed by foreign multinational corporations operating in China that the Chinese Communist Party (CCP) is strengthening its influence — often gaining direct decision-making power — over the international firms doing business in China.

CCP officials are increasingly calling on companies to support the creation of party organizations among their employees. The potential for party groups to influence corporate decision making has raised concern among many US company executives - such an environment is only adding more stress to the US-China commercial relationship.

Since taking power, Xi has reasserted the CCP's supremacy, with himself as its “core” leader. This has meant greater control over personnel and strategy at state-owned enterprises, which control about 40 percent of the China’s industrial production, as well as schools and universities. Xi’s chief policy-making instrument has been an increasing array of party “leading small groups,” which set and coordinate policy. 

Foreign companies are concerned about the establishment of a party unit in a foreign company and what this means should the CCP play a broader role in foreign companies’ operational decision making. For example, making decisions which are political rather than for business reasons. 

No doubt American business is telling the Trump administration such moves by the CCP into potential management roles of foreign-invested enterprises is not a positive step for the commercial relationship. 

Should the current trade irritation between China and the United States worsen, Beijing could be moved to intensify the party’s role in foreign business further, even allowing the boycotting of American goods and services, creating yet more headaches for businesses operating in China.

This real time business environment has put American companies in particular in the middle of a brewing fight between Beijing and Washington.

Enjoy the ride.

GEOECONOMICS

China ‘welcomes’ Mnuchin’s interest in traveling to Beijing for trade talks: WSJ reports, Treasury Secretary Steven Mnuchin says he may be heading to Beijing for trade negotiations, suggesting an easing of US-China tensions that have widened to include big-name companies in both countries. Mr. Mnuchin said Saturday he is considering the China trip, and on Sunday, China’s Commerce Ministry said in a terse statement that “the Chinese side welcomes this.” The display of good will, following weeks of harsh words from both sides, gives rise to hope of a thaw in a trade stalemate that has seen both countries slap tariffs on some goods and threaten to impose them on a lengthening list of products.

FT: China and US poised for fresh trade talks

Bloomberg:
US hints at China truce as world warns of trade-war threat

The Times: Trade war fears eased by plans for US-China talks


US questions Cosco’s takeover of cargo terminal in Long Beach: WSJ reports, Chinese shipping giant willing to divest California port operations to clear CFIUS review of $6.3 billion takeover of Asian rival.

In US-North Korea talks, China is left out and worried: NYT reports, Beijing is concerned that a grand deal with North Korea’s longtime enemies could diminish its influence over Pyongyang, experts said.

Bloomberg: How China is buying its way into Europe https://bloom.bg/2qRtcxn

"For more than a decade, Chinese political and corporate leaders have been scouring the globe with seemingly bottomless wallets in hand. From Asia to Africa, the U.S. and Latin America, the results are hard to ignore as China has asserted itself as an emerging world power. Less well known is China’s diffuse but expanding footprint in Europe."

Ahead of summit, South Korea says it will stop blasting K-Pop, propaganda along border with the North: LAT reports, the South Korean military has announced it will muffle high-decibel propaganda loudspeakers along the highly fortified border as a gesture of goodwill ahead of this week's summit between the two nations' leaders.

Macron has little to show for his efforts to court Trump: NYT reports, President Emmanuel Macron of France leaves on Monday for a state visit to Washington, where he will try, once again, to close the gap with President Trump on climate change, Iran and trade.

Macron will visit DC today with a tour of Mt. Vernon followed by a dinner on the property - more meetings, press conference, and proper State Dinner tomorrow.

LAT: French, German leaders will bring Trump the same message: Save the Iran nuclear deal

Hiring tumbles at UK fund houses as Brexit plans kick in: FT reports, asset managers cut back on London appointments and bolster European bases.

FT - Editorial: Stop our oceans choking on a plastic overdose: Governments and companies must act globally to clean up the seas.

AMERICAN POLITICS

WSJ: Senate panel poised to vote against backing Pompeo

Romney faces clearer path to GOP Senate nomination despite Utah convention setback
: WP reports, although his challenger depicts Mitt Romney as an establishment interloper, the 2012 presidential nominee has a financial edge and greater name recognition in his bid to replace Utah Sen. Orrin G. Hatch.

"Clyburn urges full leadership shakeup If Democrats fail to retake House"

GOP split as banks take on gun industry: Politico reports, it's a conundrum that puts free-market principles at odds with gun rights, and Republicans across the board are genuinely split.

ENTERPRISE

Tencent music plans IPO; Valuation could exceed $25 billion: WSJ reports, Tencent Music, China’s largest music-streaming company, is preparing what would be one of the largest tech IPOs ever.

WSJ: US-China trade war is bad news for Google’s expansion

"Google is relying on several Chinese companies to distribute its Android apps to millions of less-affluent smartphone users, even as rising trade tensions between China and the U.S. are making those partnerships more risky."

China's ZTE and Huawei to take big hits from US restrictions: Nikkei reports, cut-off access to 5G tech and tainted images will hurt device makers.

Guidance for employees on nonpaying customers: WSJ reports, recent arrests of two nonpaying visitors at a Philadelphia Starbucks have raised questions among some employees about how to handle such situations.

FT: General Electric: Zombieland

"Conglomerate can only get by on dullness for so long"

#Ouch

Tata Consultancy Services is set to be India’s first $100bn in a nearly a decade.

Reuters: Amazon to double down on groceries; foray deeper into fresh produce in India

NYT: Is Facebook’s Campbell Brown a force to be reckoned with? Or is she fake news? https://nyti.ms/2qRuyrX

CULTURE

FT: Why we are irrational about MBA rankings https://on.ft.com/2HmjeKy

Caracal Business Insider | December 15, 2017

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China Soft Power Fail, Paul Ryan, Mexico, Putin, Amazon, H&M

Caracal Business Insider | Daily
December 15, 2017
Curation and commentary from Marc A. Ross

Caracal Business Insider = Global Business News at the Intersection of Politics + Policy + Profits.

Reporting from Alexandria, Virginia


What Caracal Global is watching today:

✔️ South Korea outraged by journalist beating in China

✔️ Two Canadian Senators’ business venture linked to China

✔️ EU launches next phase of Brexi

✔️ Paul D. Ryan exiting as speaker?

✔️ H&M says to close more stores as customers go online

GEOECONOMICS

World trade order in a wobble as Washington snubs WTO status quo: Reuters reports, the frustration of Roberto Azevedo was evident when, as director general of the World Trade Organization, he summed up the results of a three-day ministerial conference in Buenos Aires in the past week. There were simply none.

China set for slower growth target in 2018: Caixin reports, key policymaking meeting likely to focus on curbing financial risks, reining in debt.

Chinese authorities collecting DNA from all residents of Xinjiang: Guardian reports, officials build a database of iris scans and blood types of everyone aged 12 to 65 in the region home to 11 million Muslim Uighurs.

This is troubling.

How's the soft power campaign working?


South Korea outraged by journalist beating in China: AFP reports, South Korean news media on Friday expressed anger and outrage after Chinese security guards beat and severely injured a South Korean photojournalist covering President Moon Jae-In's visit to Beijing. Opposition parties and internet users joined in, saying the incident epitomised the Asian giant's attitude towards its smaller neighbor.

This is also troubling.

How's the soft power campaign working?


Can China contain bitcoin? It is trying. But the cryptocurrency is bigger than any country, even the one where it has been most popular. https://goo.gl/PQsngB

Caixin: Asian Development Bank to invest in cleaning up Beijing’s air

Two Conservative senators’ business venture linked to China: Two Conservative senators – one with close ties to Beijing – set up a private consulting business this year with partners who are involved in attracting investment from China to Newfoundland and Labrador, corporate records show.

Senator Victor Oh, who recently said he has not conducted any "personal business" in Canada or China since his appointment to the Red Chamber in 2013, formed a St. John's-based company in April with Senator David Wells. Mr. Wells would not say whether Signal Hill Management is pursuing business deals with China-based entities.

J-Alert: One of Japan's Japan’s most popular phrases is the system used to warn citizens of an imminent missile attack.

US offers 'proof' missile fired at Saudi Arabia was Iranian: AFP reports, the United States on Thursday presented pieces of what it said is the missile fired at Saudi Arabia by Houthi militia in Yemen, describing it as conclusive evidence of Iran involvement and its violation of UN resolutions.

Red Dawn in Lapland: Outside reports, Finland shares an 833-mile border with an aggressive and unpredictable neighbor. That proximity led to a major conflict during World War II—the horrific Winter War—and even now it keeps Finns nervous about Russia’s intentions. David Wolman suited up to train with the elite soldiers who will be on the front lines if this cold feud ever gets hot. https://goo.gl/y1iMiE

EU gives UK go-ahead for next phase of Brexit talks: FT reports, negotiations to start on trade after leaders endorse progress on the divorce settlement.

'Congratulations': EU launches next phase of Brexit: Reuters reports, the European Union agreed on Friday to move talks forward with London on Britain's exit from the bloc as leaders warmed to the British premier, but there was little clarity on trade, as well as on some issues already discussed

Theresa May, navigating Brexit, reaches a first finish line: NYT reports, Ms. May lacks many of the qualities that draw a person into politics. She does not enjoy the public spotlight, or have a vision she yearns to share with the country. In a political environment that demands social ease and boundless intellectual confidence — the “tranquil consciousness of effortless superiority” once attributed to Oxford’s Balliol College by one of its famous alumni — she is formal, controlled and extremely private.

“In some ways, she’s old-fashioned English in an era where being old-fashioned and English is no longer acceptable,” said Philip Cowley, a political scientist at Queen Mary University of London.

Some Canada firms could move to US amid NAFTA worries: Reuters reports, more a quarter of Canadian firms could move part of their operations to the United States amid uncertainty over the future of the NAFTA trade pact, the nation's export credit agency said on Friday.

Mexico plots open trade course to escape Trump's NAFTA threats: Reuters reports, Trump’s ‘America First’ brand of economic nationalism is pushing Mexico to seek sanctuary in more open commercial ties elsewhere to soften the blow of a possible breakdown of the North American Free Trade Agreement (NAFTA).

"Mexico has lobbied hard to defend NAFTA. The country is heavily dependent on U.S. demand, which soaks up around 80 percent of its goods exports."

Mexico scores big tourism gains after hurricanes devastate Caribbean islands: LAT reports, from October 2017 through March 2018, airlines cut more than 1.2 million seats to Puerto Rico, the US Virgin Islands, Cuba and St. Martin. In that same period, they've added more than 600,000 seats on flights to popular Mexican destinations.

The Russia facts are hiding in plain sight
WP - David Ignatius

AFP: Putin says Arctic exploration a priority for Russia

Russia election date = March 18, 2018

I wonder if the Trumpster will join Putin on the hustings?

AMERICAN POLITICS

Tax reform: Republicans expect to unveil the final version of their $1.5 trillion tax measure today.

The Republicans’ problem is bigger than Alabama: A string of defeats points to weaknesses beyond one tainted candidate and to trouble in 2018 and beyond. https://goo.gl/iQegmn

"Voters who disapprove of Trump have reliably cast ballots against Republican candidates in each of the three major elections this year: In Alabama, 93 percent of those who disapproved of Trump voted for Jones; in Virginia, 87 percent voted for Gillespie’s Democratic opponent, Ralph Northam."

8 numbers out of Alabama that should terrify Republicanshttps://goo.gl/tY8UG5

"Among those 65 years old (and older), Moore won by 19 points. Among all other voters -- aged 18-64 -- he lost by eight."

Paul Ryan sees his wild Washington journey coming to an end: Politico reports, he felt he was ‘made for this moment.’ But now, on the verge of achieving his long-sought legislative dream, he’s got his eyes on the exits.

Paul D. Ryan exiting as speaker? It only makes sense.
WP - Aaron Blake

"Trump has already turned Senate Majority Leader Mitch McConnell (R-KY) into a pariah with a newly imperiled majority, and it seems only a matter of time before the House's failure to meet Trump's expectations causes him to truly turn his fire on Ryan too."

@politico: #BREAKING: House Speaker Paul Ryan considering retirement after 2018 midterms http://politi.co/2o58WcR 

@POLITICOMag: Paul Ryan has made it known to some of his closest confidants that this will be his final term as speaker


@CNNPolitics: 5 reasons why Paul Ryan should definitely quit in 2018 | Analysis by CNN's Chris Cillizza http://cnn.it/2AqHh7X

@FoxBusiness: @SpeakerRyan aides dismiss reports of possible 2018 resignation


Net Neutrality: The FCC voted to dismantle rules governing how internet-service providers treat traffic, a move that is likely to empower cable and wireless providers.

"We are helping consumers and promoting competition.” --F.C.C. Chairman Ajit Pai

Recommendations signal major changes coming to Iowa’s Caucuses https://goo.gl/7vXbsN

ENTERPRISE

NYT: Uber under criminal investigation, Justice Dept. confirms in letter to court

"It is the first public confirmation by the Department of Justice of a federal inquiry into the San Francisco-based ride-hailing company."

Nordic Choice Hotels tests blockchain distribution for Stockholm property: Skift reports, hotels, like airlines, currently rely on the global distribution systems and other intermediaries for distribution. Bypassing them could be an attractive proposition if it would lower costs.

Google’s return to China foretells a global race to deliver AI: MIT Tech Review reports, with a new research center in Beijing, Google hopes to strengthen its global position in offering AI services through the cloud.

Transneft says its computers were used for mining cryptocurrency: Reuters reports, computers at Transneft have been used for the unauthorized manufacture, or "mining", of the cryptocurrency Monero, a vice-president of the Russian pipeline operator said.

Disney-21st Century Fox deal ensures that the future of television and movie viewing is online.

H&M shares slide after unexpected sales fall: FT reports, Swedish fashion retailer has been struggling with a shift to online shopping.

AFP: H&M says to close more stores as customers go online

Reuters: Siemens partners with Amazon as it ramps up industrial software platform


Amazon wants it all.

TRENDS

Facebook invites HR pros to steal its sexual harassment policy.

AOL Instant Messenger made social media what it is today: The once popular messaging platform goes dark this week, but its legacy of instant communication is here to stay. https://goo.gl/3UrMwc

How a Welsh jeans firm became a cult global brandhttps://goo.gl/Pk19KB

CULTURE

Breaking: Harry and Meghan to marry on May 19, 2018.

SOTD

Recomposed by Max Richter: Vivaldi, The Four Seasons, Spring 1 https://goo.gl/wtL6XN

SPORT

What did the Reds show Shohei Ohtani? http://cin.ci/2AgOrvc

Creator versus disruptor: Pep Guardiola and José Mourinho battle for the fate of the universe (and the Premier League). https://goo.gl/GNkUMQ

How Amazon, Apple, Facebook and Google manipulate our emotions

The combined market capitalization of Amazon, Apple, Facebook, and Google is now equivalent to the GDP of India. 

How did these four companies come to infiltrate our lives so completely? In a spectacular rant, Scott Galloway shares insights and eye-opening stats about their dominance and motivation -- and what happens when a society prizes shareholder value over everything else.

A TED Talk from Scott Galloway followed by a Q&A with TED Curator Chris Anderson.