Financial Markets and Economy
Oil Steadies After Slump to Five-Month Low as Shale Subdues OPEC (Bloomberg)
Oil steadied after sliding below $45 a barrel for the first time since OPEC agreed to cut output in November as U.S. shale confounds the producer group’s attempts to prop up prices.
Why the Retail Crisis Could Be Coming to American Groceries (Bloomberg)
The American grocery store has so far been mostly immune to the ravages of online shopping and the all around apocalyptic outlook facing the nation's retailers.
House banking panel passes bill to undo U.S. financial crisis rules (Reuters)
A House banking panel on Thursday passed a controversial bill that would drastically change how the U.S. government regulates the financial sector.
Hong Kong Retail Sales Rise for First Time in Two Years (Bloomberg)
Hong Kong retail sales posted a surprise gain, rising for the first time in two years as tourism from China rebounded.
Asian Stocks Drop as Energy Shares Drag Ahead of U.S. Jobs Data (Bloomberg)
Asian stocks outside Japan declined for a third day as energy companies fell and investors held back from taking riskier bets before the release of U.S. jobs data. Philippines outperformed the region as stocks rose to the highest level in nine months.
Pricey Stocks Push Bearish Investor to Emerging-Market Debt (Bloomberg)
Almost a decade after the start of the worst global financial crisis since the Great Depression, Aberdeen Asset Management’s Bruce Stout is as down on stocks as ever.
Republicans Scrap Rule For Small-Business Retirement Plans (NPR)
Senate Republicans voted Wednesday night to rescind an Obama-era policy that allows states to offer retirement savings plans to millions of workers.
Chinese Shares Tumble as Oil Slump Exacerbates Drop on Crackdown (Bloomberg)
Chinese stocks sank in Shanghai and Hong Kong as concern over Beijing’s efforts to reduce leverage in the financial system persisted and as a selloff in commodities spilled over into equity markets.
European Stocks Trim Losses as Energy Producers Erase Declines (Bloomberg)
The Stoxx Europe 600 Index fell 0.2 percent at 9:39 a.m. in London, trimming earlier losses of as much as 0.4 percent as oil-and-gas shares tracked crude higher.
Iron Ore’s Brutal Week Opens Pathway for Retreat Into the $50s (Bloomberg)
Iron ore’s tough week has opened up a pathway for benchmark spot prices to drop back into the $50s a metric ton, or possibly even lower, as mounting investor concern about rising supplies and tighter financial conditions in China combine to pummel prices.
Bitcoin plummets below $1,500 (Business Insider)
The cryptocurrency rallied 9% to an all-time high above $1,652 a coin on Thursday morning, but has given up virtually all of those gains over the past hour. Bitcoin now trades up 1.5% at $1,537.41 a coin. It plummeted as low as $1,498 after putting in its record high.
The 26 major cities with the highest quality of life in the world (Business Insider)
This week Deutsche Bank released its annual "Mapping the world's prices" report, cataloguing the cost of goods and services in a cross section of the world's biggest and most powerful cities around the world.
Make less than $75,000 a year? You won't be able to afford Trumpcare (Daily Kos)
This is going to be so, so unpleasant for Republicans when they wake up from their Bud Light hangover. The crappy Trumpcare bill Republicans just passed? It would screw pretty much everyone who ever voted for them.
Companies
Shake Shack Tumbles After Cold Weather Hurts Restaurant Traffic (Bloomberg)
Shake Shack Inc., the New York-based burger and milkshake chain, plunged as much as 15 percent in late trading after posting a surprise sales decline.
VW Brand CEO Aims to Boost Profit Through Productivity Gains, Cost-Control (The Wall Street Journal)
Volkswagen AG’s struggling namesake brand said Friday it expects to wrap up the technical fixes of most tainted diesel vehicles by the end of the year and boost productivity and profits in its main automotive operations.
Uber faces criminal probe over software used to evade authorities (Reuters)
The U.S. Department of Justice has begun a criminal investigation into Uber Technologies Inc's use of a software tool that helped its drivers evade local transportation regulators, two sources familiar with the situation said.
Ford Laying Off 130 Workers in Ohio on Softer Demand for Work Trucks (The Wall Street Journal)
Ford Motor Co. will temporarily lay off 130 workers at a factory near Cleveland, a move aimed at lessening supply of medium-duty work trucks hit by softening demand.
Technology
Activision's army of 30 million 'Overwatch' gamers are driving up its revenue (Reuters)
Activision Blizzard raised its full-year adjusted profit and revenue forecasts, and reported quarterly revenue above estimates, as the videogame publisher benefited from the popularity of its "Overwatch" game.
This Robotic Umbrella Wants to Shade You (Bloomberg)
ShadeCraft’s Sunflower uses motors and sensors to unfurl itself and track the sun. It’s also solar-powered and has built-in Bluetooth speakers and two security cameras that users interact with through an app.
Tim Cook says manufacturing might come back to the US, but robots will get the jobs (Wolf Street)
Apple will invest in and promote “advanced manufacturing” in the US, CEO Tim Cook told CNBC’s Jim Cramer on Wednesday after the somewhat uninspiring earnings report.
Seriously, Beware the ‘Shadow Brokers’ (Bloomberg)
It’s not every day a trove of National Security Agency-quality hacking tools gets dumped on the open market, free for the taking, but that’s what happened in April.
Microsoft tests a secured Edge browser for business (Engadget)
If the idea of a more secure Windows browser appeals to you — and why wouldn't it — then you might want to have a peek at the latest Windows 10 Insider Preview Build.
UK trials body cameras for staff in mental health wards (Engadget)
An early trial has found that staff-worn body cameras can reduce confrontation and aggressive behaviour in patients suffering from mental health issues.
Politics
Democrats chant 'hey hey hey, goodbye' at House Republicans after they pass healthcare bill (Business Insider)
Democrats on the House floor on Thursday mocked their Republican counterparts for voting to pass the American Health Care Act by chanting, "Na na na na, na na na na, hey hey hey, goodbye," at them.
How Much Does A Politician Cost? A Groundbreaking Study Reveals The Influence Of Money In Politics (The Intercept)
An ingenious new Roosevelt Institute study on the influence of money on politics begins with an incredible story about how the world actually works:
In the spring of 1987, Paul Volcker’s second term as chair of the Federal Reserve was running out.
The Comey Letter Probably Cost Clinton The Election (FiveThirtyEight)
Hillary Clinton would probably be president if FBI Director James Comey had not sent a letter to Congress on Oct. 28. The letter, which said the FBI had “learned of the existence of emails that appear to be pertinent to the investigation” into the private email server that Clinton used as secretary of state, upended the news cycle and soon halved Clinton’s lead in the polls, imperiling her position in the Electoral College.
The Health Care Bill Could Be A Job-Killer For GOP Incumbents (FiveThirtyEight)
Republicans in the House of Representatives voted today to approve a version of the American Health Care Act, their bill to repeal and replace Obamacare. The biggest effects of the bill will be on the millions of additional Americans who would go without health insurance if a similar bill is passed by the Senate.
This little-known research program Trump wants to cut is where the future is made (Think Progress)
You’re sitting at your desk in shirtsleeves sweating, while the person in the cubicle next to you is wrapped in a heavy sweater. Rather than turn up the A/C, you slip into a special pair of shoes and start to cool down.
4 ways the Republican health care bill will benefit the rich (CNN)
Here's what hasn't changed under the revised House Republican health care bill to repeal and replace Obamacare: The rich would still get tax cuts and other tax breaks.
Trumpcare simply refuses to die — and so does the self-destructive ignorance of Donald Trump’s supportersWhen a pro football team disappoints its fans, most of them are back in their stadium seats or chained to their televisions the following Sunday. For the most part, sports fans mate for life, and so they rarely abandon their fealty to their team, regardless of how often it craps the bed.
The so-called Tuesday Group, made up of moderate House Republicans, threatened to remove its co-Chairman Tom MacArthur for daring to strike a deal over President Donald Trump’s health care replacement bill with the far-right conservative Freedom Caucus.
GOP Health Bill Draws Opposition From Advocate Groups (The Wall Street Journal)
Powerful health care trade and patient-advocacy groups denounced passage of the House GOP health bill Thursday and called for the Senate to reject the legislation.
Republican Sponsored “Trumpcare” Passes House: Hooray? (MishTalk)
Trump is giddy as are many Republicans over a bill to repeal and replace Obamacare that took place moments ago in the House.
Amtrak Needs $38 Billion for Northeast Corridor Repairs (Bloomberg)
The busiest U.S. passenger rail route needs $38 billion to stay in good working order, a 36 percent jump over the estimate just a year ago, according to a group that oversees the Northeast Corridor.
Republicans plan keg party to celebrate eliminating healthcare for the poor (Resistance Report)
Republicans are already rolling in “cases upon cases of beer” to celebrate the passage of Trumpcare, which will result in 24 million Americans losing health insurance.
Life on the Home Planet
The Jersey Shore Would Rather Fight Flooding With Walls Than Retreat (Bloomberg)
On a recent rainy afternoon near the Jersey Shore, John Spodofora, the mayor of Stafford Township, stood at the edge of the water and pointed to a spot in the salt marsh where he wants to build a giant berm to blunt the force of hurricanes.
The alt-right hates women as much as it hates people of colour (The Guardian)
One hundred days on from Donald Trump entering the White House with its help, what will the alt-right do next? The small, loosely organised movement, which has helped to revitalise far-right politics in the United States, has made skilful use of internet activism and has a receptive ear in Trump’s chief strategist Steve Bannon, who as former head of Breitbart News once proclaimed his network “the platform of the alt-right”.
India's top court upholds death penalty in Delhi gang rape case (Reuters)
India's top court on Friday upheld death sentences against four men who fatally gang raped a woman on board a bus in 2012, a crime that sparked widespread protests and drew international attention to violence against women.
A Wave of Ultra-Hot Gas Twice as Big as The Milky Way Has Been Found Rippling Through Space (Science Alert)
Scientists have found a huge wave of ultra-hot gas rippling through the nearby Perseus galaxy cluster. And when we say huge, we mean really freaking giant.
Iraqi forces gain foothold in northwest Mosul after surprise new push (Reuters)
Iraqi forces pushed further into Mosul from the north on the second day of a new push to speed up the nearly seven-month attempt to dislodge Islamic State, commanders said on Friday.
