Financial Markets and Economy
The Case for How the Fed Has Already Made Its Policy Mistake (Bloomberg)
The Federal Reserve may already have made a monetary-policy mistake and paved the way for the next U.S. recession.
Rolls Royce could be about to totally shake up its management (Business Insider)
Rolls Royce could be about to totally restructure its management, as the company looks to get back on the right course after a difficult couple of years.
The company is under pressure from investors to make changes following five profit warnings in the past year and a half, and bosses are expected to fly into London today to try and restore confidence in the flagging engineering firm, it is reported.
Copper Slumps Below $4,500, Nickel Plunges as Metals Slide (Bloomberg)
Copper fell below $4,500 for the first time since May 2009 as investors fear China’s shift to a consumer-driven economy from investment-led expansion will slow demand in the world’s biggest user. Nickel lost more than 5 percent to the lowest since 2003 and Shanghai futures fell the daily limit. Glencore Plc shares slid 3 percent and BHP Billiton Ltd. dropped 2.1 percent.
Why Tesla isn't holding back on its big Model S recall (Business Insider)
You have to hand it to Tesla. Even though it may be small relative to traditional automakers, it goes big when it has to.
CEO Elon Musk doesn't want to merely sell cars; he wants to change the world and end our dependence on fossil fuels.
Norway's Offshore Fleet in for More Pain as 100 Vessels Stacked (Bloomberg)
The number of Norwegian offshore vessels with nothing to do has gone from zero to 100 in just a year. And the woes are far from over, the industrys top lobbyist said.
Oil prices could crater to around $20 per barrel in 2016 (Business Insider)
The oversupply in the oil market is absolutely killing prices and it's only set to get worse in 2016.
Oil prices are over 50% lower than they were last year, but according to Goldman Sachs and an OPEC official, oil could crater to near $20 per barrel in 2016.
Charting the Markets: Global Stocks End Five-Day Winning Streak (Bloomberg)
Commodities slump to 1999 low, the euro falls to April low and mining companies lead Stoxx 600 lower.
Procter & Gamble: Time for a split – Barron's (Business Insider)
Executives of consumer-products giant Procter & Gamble Co, the maker of Tide detergent and other household goods, should consider breaking up the company to improve its beleaguered performance, Barron's financial newspaper said.
The "radical action" would give the Cincinnati-based company a chance to contend with more "agile competitors," according to Barron's report this weekend. Procter & Gamble has been struggling with weak performance, with its shares down 17 percent this year.
Glencore Leads Slide in Mining Stocks as Commodity Rout Deepens (Bloomberg)
Anglo American Plc and Kaz Minerals Plc fell as a gauge of mining companies slipped to near the lowest in almost seven years after the rout in commodity prices deepened.
HSBC is on the cusp of abandoning Britain (Business Insider)
HSBC has warned the markets for the last six months that it is debating whether it will relocate its London headquarters amid constantly changing regulations in the City.
Now, it looks very likely it could go ahead after some of its most prominent shareholders publicly declared that they would back a move because banks are getting fed up of regulators "changing the goal posts."
Britain's Shares Decline as Miners Head for Lowest Since 2008 (Bloomberg)
U.K. shares fell, after their best week in almost a month, dragged lower by a slump in commodity producers.
Wal-Mart pulls Cyber Monday forward to Sunday, record industry sales expected (Business Insider)
Wal-Mart Stores Inc has decided that Cyber Monday, the biggest online shopping day of the year, should not start on a Monday anymore.
The world's largest retailer by revenue will, for the first time this year, launch all its Cyber Monday deals on the Sunday after Thanksgiving rather than the early hours of Monday morning as in previous years.
European Index Futures Little Changed After Stocks' Weekly Rally (Bloomberg)
European stocks declined as commodity producers and energy companies tumbled on falling prices.
How to sell your business for top dollar (Market Watch)
If you own a business and you’re in your 50s or 60s, you’re likely relying on the sale of it to fund your retirement. Yet the company you’ve spent a lifetime building and growing faces its toughest competition.
Treasuries Halt Gain as Economists Say GDP to Be Revised Higher (Bloomberg)
Treasuries fell, pushing 10-year yields up from a two-week low, as analysts said a U.S. government report Tuesday will show the world’s largest economy grew more quickly in the third quarter than previously estimated.
Gold prices drop as dollar’s strength weighs on metals (Market Watch)
Gold futures fell on Monday, weighed by continued pressure from the dollar, as the rest of the metals sector followed suit.
December gold GCZ5, -0.63% lost $6.50, or 0.6%, to $1,069.60 an ounce on Monday. The move downward has come amid expectations that the Federal Reserve will raise interest rates in December, which has boosted the greenback. The U.S. dollar index DXY, +0.22% was moving toward the 100-level on Monday for the first time since March.
The One-Day Rally That Shows Goldman May Be Right on Metal Cuts (Bloomberg)
Zinc producers keep on cutting back and yet prices keep on falling.
Here’s how a little market timing can boost your stock portfolio returns (Market Watch)
If you’re willing to deviate from a strict allocation to stocks and bonds, recent valuation and momentum conditions in the stock market justify holding more cash.
That at least is the recommendation of a model allocation from respected hedge-fund manager Cliff Asness, and his colleagues Antii Ilmanen and Thom Maloney at AQR Capital Management.
Emerging Currencies Retreat on Fed Bets as Most Stocks Advance (Bloomberg)
Emerging-market currencies fell for the first time in a week and shares of energy and metals companies declined as commodity prices tumbled. Argentine stocks traded in Europe gained after Mauricio Macri’s victory in runoff presidential elections.
Income, spending data need to back economic recovery view (Market Watch)
With earnings season all but over, investors seeking signs of a continued economic recovery will look for rising consumer spending and income in the holiday foreshortened week.
BHP Facing Downgrade Pressure With or Without Protected Dividend (Bloomberg)
Whether BHP Billiton Ltd. scraps its progressive dividend policy or not, it risks a credit ratings downgrade as the collapse in oil and iron ore shows no sign of abating.
Pfizer and Allergan Reach $150 Billion Merger Deal (NY Times)
The deal, to be announced Monday, would create a huge new pharmaceutical giant and could potentially help Pfizer lower its American tax rate.
When it is announced — most likely on Monday, people briefed on the matter said — the deal to buy Allergan, the maker of Botox, would be one of the biggest ever takeovers in the health care industry. And it would be the largest acquisition yet in a banner year for mergers.
China's Stock-Index Futures Fall as CSRC Restarts IPO Process (Bloomberg)
Chinese stocks fell as Guotai Junan International Holdings Ltd. plunged in Hong Kong after the brokerage said it can’t contact its chairman, while technology companies slumped in Shanghai as the securities regulator gave the green light to initial public offerings following a five-month freeze.
Petco Nears $4.7 Billion Sale to CVC and Canadian Pension Plan (NY Times)
Petco is near an agreement to be acquired by CVC Capital Partners and the Canadian Pension Plan Investment Board for $4.7 billion, a person briefed on the matter said on Sunday.
Futures flat as S&P comes off best week in nearly a year (Yahoo! Finance)
U.S. stock index futures were little changed on Monday, coming off strong gains last week, with the S&P 500 posting its biggest gains in almost a year and the Dow Jones industrial average turning positive for the year.
Oil Deal of the Year: Mexico Set for $6 Billion Hedging Windfall (Bloomberg)
Mexico is set to get a record payout of at least $6 billion fromits oil hedges this year, according to data compiled by Bloomberg.
Masters of the Finance Universe Are Worried About China (Bloomberg)
David Tepper says a yuan devaluation may be coming in China. John Burbank warns that a hard landing there could spark a global recession.
Politics
Why Obama Is Standing by the Syrian Refugees (The Atlantic)
Once upon a time, liberals criticized Barack Obama for only taking on fights he knew he could win. Not anymore. In 2013, Obama responded to the Sandy Hook shooting with a fervent, if unsuccessful, push for gun control. Now, over the past week, he’s met the nativist hysteria sparked by the attacks in Paris with an impassioned, enraged rhetorical barrage on behalf of the admission of Syrian refugees. He’s done so even though polls show that a clear majority of Americans now oppose admitting any Syrians. And even though, last Thursday, 47 House Democrats broke with him to help overwhelmingly pass a bill that would make admission of Syrian refugees virtually impossible.
Open to Independent Bid if GOP Doesn't Treat Him 'Fairly' (Wall Street Journal)
Republican presidential front-runner Donald Trump said Sunday he is open to running for president as an independent if he concludes Republicans are not treating him “fairly.”
Technology
Changing the Face of the Gas Mask (PSFK)
Let’s face it: if the situation requires a gas mask, then something scary is already happening. So why do masks themselves have to look so terrifying? The design of such apparatus has changed little since World War II, so most still resemble an alien face, with a bulbous filter obscuring most of the face, black rubber covering most of the rest, and two small lenses for the eyes. It may be difficult for Americans to imagine, but in some places (such as Israel), gas masks are required equipment for adults and children alike, and wearing them can be a trying and traumatic experience.
An Electromagnetic Arms Race Has Begun: China Is Making Railguns Too (Popular Science)
Chinese Railgun
This early Chinese railgun or coilgun (pre-2005) is part of Chinese electromagnetic research, which began in the 1980s. While railguns are relatively simple to build, the difficulty lies in scaling them up, as well as making the barrel durable enough for multiple firings.
Health and Life Sciences
Exercise Can Reduce Heart Failure Risk, No Matter Your Age (Medicine Net)
Starting to exercise later in life can still reduce your risk of heart failure, and even modest increases in activity could provide some protection, researchers say.
Life on the Home Planet
Gangs of New York: Sicilian mafia offers Big Apple protection from 'psychopathic' ISIS (RT)
The son of a New York mob boss has given Islamic State a stark warning, saying if they are planning any attacks in New York, they will have to contend with the Sicilian mafia. The notorious crime syndicate say they want to do their bit to protect locals.
Brussels Stays on Lockdown as Hunt for Terror Suspects Quickens (Bloomberg)
Police across Belgium continued their hunt for an Islamic State terror cell they fear is plotting an “imminent” attack on Brussels as authorities maintained the capital city on maximum alert, keeping schools, shops and the metro network closed on Monday.
One of last northern white rhinos dies (BBC)
One of the world's last four remaining northern white rhinos has died in a zoo in the United States.
The condition of Nola, a 41-year-old female, had deteriorated after surgery and she was put down on Sunday.
