Two Koreas, China, Ireland, Postmates, Juventus, WeWork, AI
Marc Ross Daily
September 19, 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
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TOP FIVE
✔️ Two Koreas plan to make joint bid for 2032 Summer Olympics
✔️ China retaliates against new US tariffs in trade war
✔️ Apple pays Ireland €14bn in disputed back taxes
✔️ Postmates hits $1bn valuation
✔️ Real Madrid v Roma @ 3:00 pm ET
GEOECONOMICS
The two Koreas sign agreement on how to denuclearize peninsula: Bloomberg reports, the agreement signed by Moon and Kim is called the "September Pyongyang Declaration."
Two Koreas plan to make a joint bid for the 2032 Summer Olympics.
China retaliates with tariffs on $60 billion of U.S. goods: WSJ reports, the Chinese government said Tuesday it plans to impose new tariffs on $60 billion in U.S. exports, prompting President Trump to reiterate a threat to punch back by hitting Chinese goods worth more than four times that much.
China retaliates against new US tariffs in trade war: FT reports, Beijing slaps duties of up to 10 percent on $60bn of American imports.
New U.S.-China tariffs raise fears of an economic Cold War: WP reports, some analysts anticipate an economic partition reminiscent of the globe-splitting divide between the United States and the Soviet Union following World War II.
Nikkei: China strikes back at US as trade war creeps closer to consumers
Bloomberg: Jack Ma warns Alibaba, China to prepare for20-year trade war
China's Premier Li Keqiang says China won't devalue their currency to stimulate exports, at the World Economic Forum in Tianjin, China.
U.S. orders Chinese media firms to register as foreign agents: WSJ reports, the Justice Department ordered two leading Chinese state-run media organizations to register as foreign agents amid U.S. efforts to combat foreign influence operations.
AFP: US considers 'Fort Trump' military base in Poland
Russia blames Israel for loss of plane shot down by Syria air defenses: WSJ reports, Russia blamed Israel for the loss of a reconnaissance plane downed accidentally by Syrian forces during a raid by Israeli fighter jets, but leaders of the two countries quickly worked to defuse further tensions, underscoring the desire of regional powers to prevent escalation.
Today: Theresa May arrives in Salzburg for Brexit talks with the EU’s negotiators.
Reuters: Canada's Trudeau under growing pressure to get NAFTA deal done
AFP: Venezuela to bump China oil exports to one million barrels a day
Venezuela’s Nicolas Maduro doubles down on Chinese money to rescue a crashing economy.
AMERICAN POLITICS
Day 608 of the Trump administration.
Kavanaugh accuser wants ‘full investigation’ before hearing: WSJ reports, the woman who alleged Supreme Court Justice nominee Brett Kavanaugh sexually assaulted her has requested an FBI investigation of the incident before she testifies.
LAT: California professor wants FBI inquiry before testifying about sexual assault allegation against Kavanaugh
FT: White House hawks ratchet up trade hostilities with China
New tariffs aimed at Beijing leave little room for any settlement.
Trump trade officials play down China tariff fears: FT reports, Republicans worry damage to consumer sentiment could affect forthcoming elections.
LAT: Environmentalists worry that Florence will leave behind a toxic mess in North Carolina
ENTERPRISE
FT: US justice department opens investigation into Tesla
Prosecutors submit ‘voluntary request for documents’ over Musk’s take-private plan.
FT: Visa and Mastercard offer $6.2bn ‘swipe fees’ settlement
The potential agreement leaves conflict over rules imposed on merchants unresolved.
Nikkei: Alibaba's incoming chairman puts data at heart of business
FT: Apple pays Ireland €14bn in disputed back taxes
Viacom strikes Nickelodeon deal with Netflix - produce exclusive series for streaming service.
Postmates hits $1bn valuation.
WeWork said it surpassed JP Morgan, the biggest U.S. bank, as the largest tenant of Manhattan office space, a milestone highlighting growing demand for flexible leases.
TRENDS + BUZZ
Social media blamed for rise in unhappiness among girls: The Times reports, far fewer girls say they are happy than a decade ago, with many blaming social media and exams for making them feel anxious.
Keep it private: Growth in sales of private-label products have outpaced the sales of branded products by 3x.
Less choice and less thinking consumers: Amazon has beat out most of its competition with a simple philosophy: endless choice at super-low prices. But now, two new trends could be a warning sign for that model. Food, clothes and makeup firms are among sellers that are becoming either highly customized or, at the other extreme, one-size-fits-all, says CB Insights' Zoe Leavitt. The common goal — the elimination of choice, and the confusion that can accompany it, thus challenging the very calling card of massive retailers like Amazon and Walmart.
CB Insights: AI healthcare startups have raised $4.3 billion since 2013
CULTURE
HBD: Jimmy Fallon, comedian, 44
SPORT
Why the Clippers landed Lee Jenkins as executive director of research and identity: LAT reports, the team announced the hiring of Jenkins, 41, as the executive director of research and identity Monday. In media and NBA circles, the title sparked confusion. To Frank, it is almost beside the point. Jenkins, whose in-depth NBA profiles at Sports Illustrated earned him a reputation as one of the nation’s top sports journalists, clicked so easily with Clippers brass that they believed his skills could benefit the organization in ways that transcend title.
Today = Champions League = Group Stage Matches
Real Madrid v Roma @ 3:00 pm ET
Valencia v Juventus @ 3:00 pm ET
Benfica v Bayern @ 3:00 pm ET