Brexit, DUP, Venezuela, Deutsche Bank, Lamborghini, Ford
Caracal Business Insider | Daily
December 5, 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
GEOECONOMICS
FT: Pound falls on breakdown in Brexit talks
Theresa May fights to rescue deal after DUP backlash over Irish border plan
LAT: Britain hoped to initial a 'Brexit' deal, but an old controversy — the border in Ireland — forced a setback
May fights to save Brexit deal after DUP veto: The Times reports, Theresa May was warned last night that she has four days to salvage a Brexit deal or risk delays after the Democratic Unionist Party vetoed it at the eleventh hour.
Britain and EU fail to strike divorce deal: AFP reports, Britain and the EU failed to strike a Brexit divorce deal during talks in Brussels on Monday but said they were "confident" of reaching an accord later this week.
Sturgeon calls for special status, too: The Times reports, Nicola Sturgeon will demand a special Brexit deal for Scotland in line with any plan to solve the Irish border issue that would mean Northern Ireland keeping closer ties to the single market.
AFP: Spain drops international arrest warrant for Puigdemont
Nikkei: Venezuela crisis lets China and Russia maneuver in US backyard
Russia registers 9 US media outlets as 'foreign agents': AFP reports, the Russian justice ministry posted a statement saying that US-funded Voice of America and Radio Free Europe/ Radio Liberty and seven of their media affiliates have been recognized as "carrying out the functions of a foreign agent."
Reuters: South Korea, US kick off large-scale air exercise amid North Korean warnings
AMERICAN POLITICS
NYT: Trump backs Moore, and RNC restores its financial support
Republicans appear increasingly confident that Moore will win the special election next week. This is correct. Moore will win and chaos will ensue.
Mueller points to Russia link in Manafort hearing: FT reports, the first assertion by investigators of possible ties between Trump campaign and Kremlin.
Bloomberg: Mueller subpoenas Trump Deutsche Bank records
Reuters: In slap at Romney, Trump says he wants Hatch to run for re-election
LEARN GLOBALIZATION IN 90 MINUTES
Marc A. Ross works with clients to develop executive education lectures, speeches, presentations, workshops, and conferences to help demystify Globalization, Disruption, and American politics. Learn more here.
ENTERPRISE
Cineworld has agreed to buy Regal for $3.6 billion.
Lamborghini unveils the $200,000 Urus SUV.
Ford in the Middle Kingdom: Ford is rebooting in China, announcing plans to launch 50 new vehicles there, including 15 electrics, by 2025.
FT: Starbucks makes super-sized China bet as it looks beyond US
The new 30,000 square foot ‘super premium’ roastery is bid to maintain upscale reputation - the store would fit on half of a soccer pitch.
China could become Starbucks’ biggest market within a decade, says executive chairman Howard Schultz.
Starbucks has reached 130 cities in China where it operates about 3,000 stores.
Google missed out on China. Can it flourish in India?: NYT reports, as major companies chase India’s new internet users, Google is changing core products to work better on low-end smartphones and use less data. https://goo.gl/P6mi3G
Facebook introduced an app for children ages 13 and younger.
@BW: These are the best books of 2017 https://bloom.bg/2jRS4Rf
Goldman Sachs to beef up Polish operations - the bank plans to hire about 250 new staff in Warsaw.
Bloomberg: Neiman Marcus CEO says affluent shoppers in ‘very good shape’
Drive and shop: GM said it will equip newer cars with in-dash e-commerce technology. The idea is to help drivers order food, find fuel or reserve hotel rooms by tapping icons on the dashboard screen, instead of using smartphones while driving.
CULTURE
Robin Wright will appear in the lead role of the sixth and final season of “House of Cards.”
RIP John Anderson: The former Republican congressman, left his party to run as a plain-spoken independent candidate for president in 1980.
PBS will offer Christiane Amanpour's CNN show to temporarily replace Charlie Rose.
SPORT
US soccer: Sunil Gulati will not run for a fourth term as US Soccer president.
Caracal Business Insider | December 4, 2017
Oligarch, Censorship, Cryptocurrency, Cannabis, CVS
Caracal Business Insider | Daily
December 4, 2017
Curation and commentary from Marc A. Ross
Caracal Business Insider: Your one-stop shop for Global Business News at the Intersection of Politics + Policy + Profits.
Reporting from New York, New York
GEOECONOMICS
Russia's long cyber game: The digital attack that brought Estonia to a standstill 10 years ago was the first shot in a cyberwar that has been raging between Moscow and the west ever since. https://goo.gl/xV2Xjn
Who’s an oligarch? Rich Russians fret over US sanctions label https://goo.gl/KUZc5i
China defends state control over the internet at technology forum: FT reports, the man who has helped shape President Xi Jinping’s policies has told the World Internet Conference — whose audience this past weekend included Tim Cook of Apple and Sundar Pichai of Google — that China had a right to regulate its own internet.
Apple, Google CEOs bring star power as China promotes censorship: Bloomberg reports, Apple Inc.’s Tim Cook and Google’s Sundar Pichai made their first appearances at China’s World Internet Conference, bringing star power to a gathering the Chinese government uses to promote its strategy of tight controls online. Apple’s chief executive officer gave a surprise keynote at the opening ceremony on Sunday, calling for future internet and AI technologies to be infused with privacy, security and humanity. The same day, one of China’s most-senior officials called for more aggressive government involvement online to combat terrorism and criminals. Wang Huning, one of seven men on China’s top decision-making body, even called for a global response team to go well beyond its borders.
China limits waste imports: NYT reports, an intense crackdown by Chinese regulators on imported foreign waste destined to be recycled has had an impact on businesses and municipalities around the world.
Maybe China can't take over the world
Bloomberg - Christopher Balding OpEd
"Some of its greatest advances depend heavily on local conditions."
In South Korea, the virtual currency boom hits home: NYT reports, around the world, ordinary people, with no prior experience in virtual currencies, have been lured into the virtual currency markets in recent weeks by the soaring prices of Bitcoin and its competitors.
Venezuela to create a cryptocurrency amid bolivar's free fall: Bloomberg reports, on his Sunday television show, Maduro announced the nation would create its own “petrocurrency,” backed by reserves in oil, gas, gold and diamonds. It will enable Venezuela “to advance in monetary sovereignty, carry out its financial transactions to overcome the financial blockade,” Maduro said.
"The 21st century has arrived!"
Trudeau in China: Trade will be high on the agenda this week as Canadian Prime Minister Justin Trudeau visits China in a bid to boost business ties with the world's second-largest economy.
Canada could make billions from legal pot: CNN Money reports, Canada's Cannabis Act was introduced in the Canadian Senate Tuesday, its last legislative stop. The bill enjoys wide public support and the backing of Prime Minister Justin Trudeau. According to recent estimates from Marijuana Business Daily, an industry publication, annual sales for Canada's recreational marijuana market could range between $2.3 billion and $4.5 billion by 2021.
"Canada faces one last hurdle to becoming the first G7 nation to legalize recreational marijuana."
Theresa May fails to strike Brexit border deal with Irish government: Guardian reports, the lack of agreement threatens to put back progression of Brexit negotiations to the second phase, ahead of crunch meeting between PM and Jean-Claude Juncker
Second referendum: Bloomberg reports, fifty percent of UK voters think there should be a second referendum on the final Brexit deal, a poll by Survation for the Mail on Sunday showed.
Copy-paste trade deals: The UK government wants to copy about 40 trade accords and turn them into bilateral agreements so international commerce won’t be disrupted after the split.
AMERICAN POLITICS
Passage of Senate tax bill puts R&D tax credit in doubt: WSJ reports, an unintended consequence of late decision to keep the corporate alternative minimum tax could be the loss of some tax breaks; companies push back.
Trump emboldened: Buoyed by Senate passage of his tax overhaul proposal, Trump told donors in New York on Saturday that he'll be “unbeatable” in 2020.
GOP pushes to avoid a government shutdown, but the path is tricky: NYT reports, a two-week stopgap measure would provide more time to negotiate, but obstacles loom on both sides of the aisle as lawmakers push their own priorities.
NYT: Alabama's disdain for Democrats looms over its Senate race
Yes, Donald Trump, you said that
NYT - Billy Bush OpEd
"Of course he said it"
Suspended: ABC News has suspended investigative journalist Brian Ross for a month because of an error in his reporting about Trump.
Driverless car bill hits Senate speed bump: The Hill reports, the measure was set up under a fast-track process with the hopes of getting it over the finish line this year, but multiple senators are blocking the legislation from moving forward.
Politico Playbook power list: 18 to watch in 2018 https://goo.gl/G5MzPS
ENTERPRISE
CVS Health Corp. is going to buy health insurer Aetna Inc. for about $67.5 billion.
Facebook has opened its new London office, stating it would add 800 more jobs in the UK capital next year.
GooBook: WPP's GroupM expects Google and Facebook to account for 84% of global digital investment in 2017.
Australia to probe Facebook, Google over media disruption: Reuters reports, Australia’s competition regulator said on Monday it would investigate whether U.S. online giants Facebook and Alphabet Inc’s Google had disrupted the news media to the detriment of publishers and consumers.
Walt Disney Co. has "reengaged" in talks with 21st Century Fox about buying some of its assets.
WSJ: Bitcoin is the world’s hottest currency, but no one’s using it
$100 trillion will happen: The total value of companies listed on the world's stock markets as of Friday's close was $98,750,067,000,000 -- within touching distance of $100 trillion for the first time.
TRENDS
Why a Gen-X CEO hired a Millennial to help him keep a learning mindset https://goo.gl/jvvdnn
Legal marijuana: According to investment firm Cowen & Co., the legal US cannabis market is expected to reach $50 billion in annual sales by 2026.
CULTURE
Call Me by Your Name has been chosen as best picture by the Los Angeles Film Critics Association.
Caracal Business Insider | December 1, 2017
Working Visit, Russian Jets, Rex Tillerson, Nokia, General Motors, World Cup 2018
Caracal Business Insider | Daily
December 1, 2017
Curation and commentary from Marc A. Ross
Caracal Business Insider: Politics + Policy + Profits
Reporting from Alexandria, Virginia
GEOECONOMICS
NYT: Trump's tweets manage a rare feat: Uniting Britain, in outrage
Trump’s 'working visit' to UK dropped as tensions with Theresa May grow over president's far-Right retweets: The Telegraph reports, Trump had been penciled in for a ‘working visit’ in the first month of 2018 to formally open America’s new London embassy.
President Trump is now a troll
WP - Anne Applebaum
“The British people overwhelmingly reject the prejudiced rhetoric of the far-right, which is the antithesis of the values that this country represents,” said the prime minister, Theresa May. When the president responded by attacking May, dozens of others — members of Parliament, the mayor of London, the archbishop of Canterbury — denounced him. One MP said Trump was “racist, incompetent or unthinking — or all three.”
Brexit arrives early in Frankfurt property market: FT reports, big rise in demand for office space as financial businesses firm up relocation plans
OPEC curbs: OPEC members agreed in principle to keep limiting their output through the end of 2018, providing assurance for an oil industry still struggling through a fragile recovery.
British military to test space-based intelligence gathering: Defense News reports, the British military is to test the ability of constellations of low-Earth orbit satellites to provide tactical intelligence gathering.
Need a gun? US defense companies sold $41.93 billion worth of weapons to foreign partners and allies in fiscal 2017, an almost 20 percent increase over 2016 figures.
Russian MPs to vote on banning US media from parliament: AFP reports, Russian lawmakers will vote next week on measures banning all US media from the lower house of parliament, a deputy said Friday, in response to the US Congress stripping state channel RT of its credentials.
Russian jets in Egypt: Moscow and Cairo signed a preliminary agreement to allow Russian military jets to use its airspace and bases.
Leaving Tel Aviv? The Trump administration is considering a plan to formally recognize Jerusalem as the capital of Israel.
Beijing foots bill for Canadian senators, MPs to visit China: Globe and Mail reports, since 2006, parliamentarians have taken 36 trips to China sponsored by arms of the Chinese government or business groups seeking closer ties and trade with the one-party state, according to travel records
US, China hold quiet military talks amid North Korea tensions: AP reports, US and Chinese generals engaged in an unusual set of security talks on Wednesday, just hours after North Korea’s most powerful missile test yet, focused on how the mighty American and Chinese militaries might communicate in a crisis.
FT: US-China economic dialogue programme has ‘stalled’, Treasury official says
“China is not moving in a market-oriented direction so for now the CED is also stalled”
Jerry Brown’s China ace card: NYT reports, China’s push to become a major player in electric cars is already shaking up the global auto industry. California’s governor is hoping it will also give the state an advantage in its continuing showdown with Detroit over battery-powered vehicles. CA Gov. Jerry Brown said on Wednesday evening at an event in San Francisco that China’s electric-car effort would help California withstand demands from American automakers that the state ease back on its effort to put more clean-burning vehicles on the road. https://goo.gl/5Hpahr
China’s tech giants have a second job: Helping Beijing spy on its people: WSJ reports, Tencent and Alibaba are among the firms that assist authorities in hunting down criminal suspects, silencing dissent and creating surveillance cities. Their efforts are part a state campaign to build one of the world’s most ambitious surveillance systems.
さようなら: Japanese Emperor Akihito will abdicate on April 30, 2019, which will end his three-decade reign by passing the throne to his son.
Each nation to fight for itself in 2018: In Asia, US faces challenges, not only from China but also India and Japan.
Nikkei - Ian Bremmer
Australia powers up the world’s biggest battery — courtesy of Elon Musk: NYT reports, the battery is the size of an American football field. It is capable of powering 30,000 homes, and its rapid deployment reflects the union of a blackout-prone state and a flashy entrepreneur, Elon Musk, the founder of Tesla Motors, who pledged to complete its construction in 100 days or do it for free.
AMERICAN POLITICS
White House plans Tillerson ouster from State Department, to be replaced by Pompeo, within weeks: The Trump administration has devised a plan that would replace Secretary of State Rex Tillerson with CIA Director Mike Pompeo, the NYT reports. Arkansas Sen. Tom Cotton, a Republican and staunch Trump ally, would reportedly replace Pompeo at the CIA.
WSJ: Tillerson, Cohn could leave White House in wave of senior departures
Trump urged GOP leaders to help end Russian inquiry: NYT reports, Trump asked at least three lawmakers last summer if they would put a quick end to the investigation into Russian election meddling, according to several people.
Senate delays vote on GOP tax plan over deficit worries: WSJ reports, Senate Republicans hit a stumbling block in their efforts to overhaul the tax code, forcing them to contemplate rewriting parts of their $1.4 trillion tax-cut plan and push back the vote to as early as Friday.
FT: Republicans’ tax reform drive hit by deficit projections
NYT: Republican tax bill hits snag over deficit concerns
On Thursday, the Joint Committee on Taxation said the measure would add $1 trillion to budget deficits over 10 years.
GE’s successful effort to change GOP tax bill shows lobbying clout: WSJ reports, scores of companies are racing to influence the final form of congressional plan to reshape the nation’s tax laws.
WSJ: For multinationals, the tax bill’s good likely outweighs the bad
ENTERPRISE
Nokia is in talks to acquire Juniper Networks - the deal values Juniper at $16 billion.
WSJ: NASDAQ Plans to Launch Bitcoin Futures in 2018
BOF: Dior, Hermès and Louis Vuitton are 2017's most buzzed-about designers on Instagram
@TheRegister: Badass alert: 1 in 5 Brits don't give a damn about webpage crypto-miners
CVS is closer to a $66 billion-plus agreement to buy Aetna.
WSJ: GM aims for self-driving taxi fleet by 2019
General Motors aims for self-driving taxis by 2019: FT reports, GM is the first carmaker planning to use technology at scale expects profit on rides at $1 a mile.
FT: Uber legal chief warns staff not to spy on rivals
TRENDS
Keeping pace with the changing Chinese consumer: In this month’s BOF China Edit, as Chinese consumer confidence reaches a 10-year high, some trends are worth watching for fashion and beauty brands. https://goo.gl/7d1ivX
Hermès Birkin auctioned for a record US$383,522 in Hong Kong: SCMP reports, world's most expensive handbag ever sold at auction is now this matte white Niloticus crocodile Himalaya Birkin 30, which was auctioned for HK$2.98 million at Christie’s today.
CULTURE
MIT Technology Review's guide to this year’s best holiday gifts https://goo.gl/sxpVfV
The NYT's 10 best books of 2017 https://goo.gl/FZn4dG
The FT's best history books of 2017 https://goo.gl/nUHEvz
The FT's best political books of 2017 https://goo.gl/ycu45V
'Thriller': How Michael Jackson and Quincy Jones made the bestselling album of all time: Rolling Stone reports, maybe it was a sign when the speakers in the studio burst into flames. It was late October 1982, and a full battalion of musicians and technicians were working around the clock at Westlake Recording Studios in Los Angeles, putting the finishing touches on Michael Jackson's highly anticipated follow-up to 1979's "Off the Wall," which had established him as a solo superstar. https://goo.gl/P2UZtc
SPORT
Ice Guardians: Exploring one of the most controversial and provocative positions in the history of sport, ‘Ice Guardians’ journeys into the lives of those who perform what is undoubtedly the toughest job within the National Hockey League today, the enforcer. Watch the trailer here: https://goo.gl/kiU7MD
World Cup 2018 draw will begin at 10:00 am ET - the American and Italian teams can sleep in.