Financial Markets and Economy
U.S. Index Futures Drop After Turkey Shoots Down Russia Warplane (Bloomberg)
U.S. stock-index futures declined after Turkey said it shot down a Russian warplane, while investors await data for further indications of the strength of the world’s biggest economy.
Airline shares are plummeting as easyJet suspends more flights to Egypt (Business Insider)
Shares in British listed airlines are tanking this morning after easyJet said it's cancelling all flights between the UK and Sharm el-Sheikh on Egypt's Mediterranean coast until at least January 6.
China and U.S. Say They’ve Made Strides in Trade Talks (NY Times)
In their first top-level trade talks since President Obama hosted China’s leader in September, the United States and China said on Monday that they had made progress on sticking points, including preventing the theft of trade secrets and opening the Chinese market more broadly to American multinationals.
Still, the lack of larger breakthroughs on bigger issues — like negotiations for a broad trade deal — contrasted with America’s improving economic ties with the rest of Asia.
Lira Drops With Stocks After Turkey Shoots Down Russian Jet (Bloomberg)
The lira dropped the most in emerging markets, and stocks fell with bonds, after the Turkish military shot down a Russian jet, threatening to escalate tension between the two nations as Turkey prepares to name a new cabinet.
Asian shares stall, dollar firm near eight-month peak (Business Insider)
Asian shares dragged their feet on Tuesday after a healthcare mega-merger failed to impress investors while the dollar held firm near an eight-month high as investors grew more convinced of a U.S. rate hike next month.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was almost flat while Japan's Nikkei <.N225> dipped 0.1 percent after a long weekend.
Upscale jeweler Tiffany's quarterly sales fall 2.2 percent (Yahoo! Finance)
Upscale jeweler Tiffany & Co's (TIF.N) quarterly sales fell 2.2 percent as a strong dollar hurt tourist spending in the United States and reduced the value of sales from other markets.
The company's net income rose to $91 million, or 70 cents per share, in the third quarter ended Oct. 31 from $38.3 million, or 29 cents per share, a year earlier.
Russian Stocks Drop Most in World After Turkey Shoots Down Jet (Bloomberg)
Russian stocks fell the most worldwide and government bonds slid as Turkey said it shot down a Russian fighter jet close to the Syrian border, threatening trade relations amid an escalation of regional tensions.
Giant Chinese brokerage can't find its CEO (CNN)
The Hong Kong subsidiary of one of China's largest brokerages said Monday that it can't find its CEO, sending shares of the company tumbling.
Guotai Junan International has been unable to reach its top executive, Yim Fung, since Nov. 18, according to a stock exchange filing. The company's board has appointed Wong Tung Ching, currently deputy CEO, to take the reins until further notice.
Norway Oil Companies to Deepen Spending Cuts Amid Sub-$50 Crude (Bloomberg)
Western Europe’s biggest oil and gas producer will probably see investments slump by one-fifth next year compared with 2014, when crude hit a peak, as the industry adjusts to considerably lower prices.
These 3 stocks are poised for huge holiday sales (Market Watch)
It’s not yet Thanksgiving, but for many retailers, it has been Christmas since the Halloween decorations came down.
Lament the fact that the December holidays’ sales rush starts earlier each year. And if you’re prone to moralizing, it’s easy to find signs of civilization’s decay in a coffee cup.
South African Carbon Tax Could Spur Economic Growth, Study Shows (Bloomberg)
South Africa’s proposed carbon tax will boost growth in the economy provided the revenue is reinvested in green-energy projects, according to Folsom, California-based Applied Development Research Solutions.
How stocks perform before and after Thanksgiving (Market Watch)
Odds are in stock investors’ favor between now and the end of next week.
Mondi Sees Packaging Boost From High-Tech Pouches for Pet Food (Bloomberg)
Mondi Ltd., the top performing stock this year among the worlds 10 biggest packaging makers, sees some of its biggest growth opportunities in food pouches that preserve everyday items from pasta sauce to dog food.
Asian mining stocks dragged down by commodities slump (Market Watch)
A slide in commodities prices pressured resources shares in Australia and Hong Kong on Tuesday, while investors elsewhere in the region tried to navigate global central banks’ split approaches to monetary policy.
Expectations are firming that the Federal Reserve will raise interest rates at its December meeting while European Central Bank has hinted it stands prepared to boost stimulus next month.
Singapore Oil Borrowers Seek More Slack to Avoid Bond Defaults (Bloomberg)
Borrowers in Singapore, so far spared from a wave of defaults in the oil services industry, are starting to ask creditors to cut them some slack.
A Banker’s Revolution (Project Syndicate)
Financial regulators are generally known for taking a measured and cautious approach to change. But in the developed world, that reputation is being turned upside down, as central bankers embrace innovative approaches in their quest to broaden participation in the formal financial system.
Pershing Square invests more in Valeant after controversy (Market Watch)
William Ackman’s Pershing Square Capital Management LP disclosed an increased 9.9% stake in Valeant Pharmaceuticals International Inc. VRX, -3.95% , a move that comes after the hedge-fund manager said he had taken advantage of the beaten-down market for the stock to build up his position.
Ackman has vigorously defended his multibillion-dollar investment in the pharmaceuticals company, which has come under siege over its accounting and sales tactics.
Dollar Holds Gain on Liftoff Odds With U.S. Growth Upgrade Seen (Bloomberg)
As a dollar gauge holds near its highest level in 12 years, the world’s largest currency trader is pondering when is the best time for investors to lock in profits.
Politics
The Lifelong Republicans Who Love Bernie Sanders (The Politics)
When Tarie MacMillan switched on her television in August to watch the first Republican presidential debate, she expected to decide which candidate to support.
Technology
Computer Workstations Programmed With Over 40 ‘Productivity Positions’ (PSFK)
On a mission to redefine how computer workstations coincide with the user from a productive, comfortable and healthy standpoint, Altwork, a team of designers, engineers and creatives, have developed an ergonomic terminal for the increasingly computer-centric worker.
Navigate the Jungle of Tech Ecosystems (Scientific American)
The question is no longer, “What phone should I get?”
That was an important question immediately after the arrival of the iPhone and its competitors. But now it's time to admit that today's smartphones (and tablets) are nearly identical. Apple and Google (maker of Android phone software) have copied each other's ideas so completely that the resultant phones are incredibly close in looks, price, speed and features.
Health and Life Sciences
Scientists May Have Spotted Happiness' Home in the Brain (Medicine Net)
Scientists may never figure out why people are happy or not, but they're a bit closer now to figuring out where happiness resides in the brain.
A team at Kyoto University in Japan used MRI to scan the brains of volunteers who were asked how happy they were in general, how intensely they felt emotions and how satisfied they were with their lives.
Mutant mosquitoes 'resist malaria' (BBC)
US scientists say they have bred a genetically modified (GM) mosquito that can resist malaria infection.
If the lab technique works in the field, it could offer a new way of stopping the biting insects from spreading malaria to humans, they say.
Life on the Home Planet
Unidentified Warplane Crashes in Syria Near Turkish Border (Bloomberg)
Turkey said it shot down a Russian warplane near the border with northwestern Syria after the pilots ignored repeated warnings that it was violating Turkish airspace.
Russia’s Defense Ministry denied that the aircraft had ever left Syrian airspace, while acknowledging that one of its jets had crashed in the country. The pilots are believed to have ejected and a search for them is continuing, the ministry said Tuesday on its website.
