Silver as an investment

Frontrunning: November 28

  • Traders await Powell hearing; Brexit doubts grip pound (Reuters)
  • Fed nominee Powell, once hawkish, now champions Yellen’s focus on jobs (Reuters)
  • Tax drama intensifies as bill faces key vote (Reuters)
  • Trump Appointee Asserts Control Over CFPB for Now (WSJ)
  • Senate Bill in Limbo Amid Budget Panel Drama (BBG)
  • Tough OPEC meeting looms amid specter of oil deficit (Reuters)
  • Oil Prices Chase $60 After a Year of Surging Demand (WSJ)
  • Trump-installed consumer agency head sets hiring freeze, halts new rules (Reuters)
  • BOE Says British Banks Could Handle a ‘Disorderly’ Brexit (WSJ)
  • What to Worry About in This Surreal Bull Market (BBG)
  • Global crypto-currency crackdown sparks search for safe havens (Reuters)
  • Investors Find Little Value in Value Stocks, So Watch for the Rebound (WSJ)
  • How Opioids Started Killing Americans (BBG)
  • U.N. to offer direct talks to Syrian negotiators for first time (Reuters)
  • Auto Executives Meet With Pence on Nafta (WSJ)
  • The National Enquirer Sought Time Magazine—and May Still Get It (Daily Beast)
  • Markets get wake-up call from China’s post-congress deleveraging moves (Reuters)
  • Pink Diamond Fetches $32 Million, Patek Sets Asian Record (BBG)
  • OECD Says U.S. Tax Cuts in 2018 Would Give GDP Temporary Boost (BBG)
  • Musk: I Am Not Bitcoin’s Satoshi Nakamoto (BBG)
  • Trump’s Coal Man Is Racing the Clock to Bail Out Plants (BBG)
  • Saudi Prince Finds Few Friends in Tough Times (BBG)
  • China racing for AI military edge over U.S. (Reuters)

Overnight Media Digest

WSJ

– SoftBank Group Corp has told stakeholders in Uber Technologies Inc that it would initially offer to buy shares at a near 30 percent discount to the company’s most recent valuation of $68 billion. (on.wsj.com/2zwMlao)

– Three Chinese people have been indicted in the U.S. for allegedly hacking into the email account of a Moody’s Analytics economist, stealing confidential business information from German electrical engineering giant Siemens AG and targeting the networks of GPS developer Trimble Inc, according to an indictment unsealed Monday. (on.wsj.com/2zwFz4n)

– Microsoft Corp signed up business-software vendor SAP SE as a cloud partner. (on.wsj.com/2zvB3Tv)

– The conference call in June led by managers in Wells Fargo & Co was part of a continuing cleanup that has led Wells Fargo to fire four foreign-exchange bankers and federal prosecutors to open their own investigation of the operation, people familiar with the matter have said. (on.wsj.com/2zulrjs)

– European buyout firm Nordic Capital is close to acquiring Ullink from Hg Capital in a deal that could value the provider of electronic-trading software at around $650 million. (on.wsj.com/2zz8vsg)

– Federal Reserve governor Jerome Powell would strive to support the economy’s progress toward full recovery and defend the central bank’s independence if confirmed as its next leader, he will tell a Senate panel Tuesday when it considers his nomination. (on.wsj.com/2zuiqzv)

 

NYT

– SoftBank Group Corp formally started its process for buying a significant stake in Uber Technologies Inc with an offer to purchase some shares at a valuation of $48 billion, far below the nearly $70 billion valuation that the ride-hailing company garnered in its last round of fund-raising, according to two people briefed on the matter. nyti.ms/2Aiv5qC

– The Supreme Court appeared divided on Monday over the constitutionality of a procedure that makes it easier to challenge questionable patents. nyti.ms/2n7kf3A

– The European Union voted on Monday to extend its authorization for the world’s best-selling herbicide for an abbreviated period of five years, with France and Germany splitting over the move. nyti.ms/2iXlG0b

– The steady growth of e-commerce has been a source of jobs and benefits as employment in traditional stores declines. But at online retailers taken over by Wal-Mart Stores Inc, workers are finding one benefit in retreat: their company-sponsored health coverage. nyti.ms/2BskWHZ

 

Britain

The Times

– The promise of nationalisation and tax rises on the rich will help Labour recapture its former heartland from the SNP, the party’s new leader Richard Leonard in Scotland predicted. bit.ly/2AiCwhl

The Guardian

– The head of Germany’s domestic intelligence agency, Hans-Georg Maassen, has accused U.S. tech giants such as Facebook Inc of failing to take enough responsibility for content on their sites. bit.ly/2AcS347

– Brexit Minister David Davis has been told he could be in contempt of parliament after his department heavily edited government analyses on the impact of Brexit on 58 industrial sectors before handing them to a select committee. bit.ly/2AE0Ih9

The Telegraph

– Male employees at easyJet earn over 50 percent more than their female colleagues on average, the budget airline revealed on Monday. bit.ly/2zuQn2Q

– British Airways owner IAG has confirmed it is buying the majority of the Gatwick take-off and landing slots being sold by the administrators for fallen carrier Monarch Airlines. bit.ly/2AeqVSY

Sky News

– Victoria Beckham’s luxury fashion brand Victoria Beckham Limited has secured a 30 million pounds investment to help fund its expansion. bit.ly/2zwFa1I

– Simon Robertson, whose former roles included the deputy chairmanship of HSBC Holdings Plc, has been drafted for secret talks aimed at defusing the boardroom crisis at the owner of the London Stock Exchange.