Early Global News: Thursday January 10th, 2019

Early Global News

Thursday January 10th, 2019

Macro

U.S. Stock Index Futures Fall as China Trade Talks Disappoint  “S&P 500 future lower after four-day rally in U.S. equities”  Bloomberg

Thursday: Unemployment Claims, PPI, Fed Chair Powell  Calculated Risk

Companies

WDC AMAT LRCX MU KLAC ASML  NAND Flash Manufacturers to Cut Capex by 2% YoY in 2019 Due to Worsening Oversupply  “NAND Flash manufacturers have slowed down the capacity expansion by cutting capex in 2019, aiming to moderate the oversupply by limiting the bit output growth.”  DRAMeXchange

MU  Server DRAM demand slowing down but outlook brisk  “DRAM demand for server applications has started showing weakness with related chip prices trending downward, according to market observers. Nevertheless, the outlook for server DRAM demand this year remains optimistic, as the data center sector looks promising.”  Digitimes

NKE  EU opens investigation into Dutch tax treatment of Nike  Reuters

AMZN BALYO>PA  Amazon to invest in French firm’s technology for self-driving forklifts  Reuters

VIA CBS FOXA DIS  Rapper Ice Cube eyes Fox’s regional sports networks, seeks funding from Viacom to join Sinclair, MLB as potential bidders  Fox Business

BABA  Alipay now has over 1 billion users worldwide  TechNode

WATT  Energous’ wireless tech inches us closer to charging our gadgets over-the-air  The Next Web

TPX  Nest Bedding’s newest mattress will only be sold on Amazon  Digiday

MDLZ  Mondelez sues insurer Zurich over $100m cyber attack claim  Financial Times

Banks bet on the struggling hedge fund sector  Financial Times

ORCL T  Oracle Pays More Than $200 Million to Rename San Francisco Giants’ Stadium  “Current deal at Giants’ AT&T Park was scheduled to end in 2019”  Bloomberg

Stake Changes

Bird raising another $300 million, report says  Axios

BABA  Ant Financial’s Affiliate Makes Strategic Investment In Chinese Campus Services Platform  China Money Network

DCIX  Diana Containerships Inc. Announces Share Repurchase Program  “…authorized a share repurchase program to purchase up to an aggregate of US$6.0 million of the Company’s common shares, of which 14,939,602 are currently issued and outstanding.”  Press Releasesc

LJPC  Chairman and 10% owner, Kevin Tang, bought 1.3 million shares of La Jolla Pharmaceutical  January 7-January 9 between $5.24 and $5.84  SEC FIling

Linger  AMZN  Bezos Divorce Clouds His Stake in Amazon  WSJ

Earnings Finance

Profit Forecasts Are Cut Like It’s 2009. Don’t Worry About It  “Analyst downgrades exceed upgrades by most since 2009: Citi”  Bloomberg

2448.TW  Epistar suspends part of production  “LED epitaxial wafer and chip maker Epistar has scaled down production due to low order visibility, as its December 2018 sales hit a new low since January 2013.”  Digitimes

Lingering Opinion  The US is set to lose its crown as the world’s most powerful economy, and is unlikely to ever get it back  “The US could lose its crown as the world’s biggest economy as soon as next year, according to data from Standard Chartered.”  Bi

Pharmaceuticals Healthcare

Hormone Replacement Skin Patches Don’t Raise Risk for Blood Clots  NY Times

Hormone replacement tablets raise risk of deadly blood clots for menopausal women, study shows  The Telegraph

NVS  New migraine drug not cost-effective NICE says in draft guidance  “:NICE has said that a new drug for preventing migraine is not a cost effective use of NHS resources, in draft guidance published today.”  NiH

JNJ PFE ABBV AMGN  Drugmakers’ alleged scare tactics may hold back competition  “The warfare is dividing big industry players.”  

With the search for Alzheimer’s drugs foundering, tech firms offer solutions  Stat

Sen. Sanders, Rep. Cummings to introduce bill to lower U.S. drug prices  Reuters

Entertainment Games

The company behind ‘Fortnite’ got an F from the Better Business Bureau following hundreds of complaints  Business Insider

DIS  Marvel’s ‘The Vision and Scarlet Witch’ series lands Paul Bettany and Elizabeth Olsen for Disney first  The Mirror

DIS  Whoopi Goldberg is ‘game’ to host the Oscars  NY Post

CNK NFLX DIS AMZN  Will Smartphones Be the Death of Movie Theaters?  “It’s awards season in Hollywood, but one of the frontrunners for best picture almost didn’t get a theatrical run at all. I”  eMarketer

GME SNE NTDOY  Want to Reach Gamers? Try Mobile  “By the end of 2019, 147.8 million people in the US will play mobile games, according to our estimates, compared to 91 million digital console players. “  emarketer

FOXA  Fox’s ‘24’ to Be Remade in Japan for TV Asahi  Variety

CNK DIS  Advance ticket sales for ‘Captain Marvel’ are already setting records  Boy Genius Report

TCEHY NTES  China approves second batch of video games after freeze, but still no Tencent  “Despite the thaw in approvals, the biggest two players in the market, Tencent and domestic rival NetEase Inc, did not appear to have any games on either list.”  Reuters

Fact  Hulu teases redesigned app with simplified navigation, new homepage, more  9to5Mac

Military Surveillance

U.S. Spent $8 Billion on Afghanistan’s Air Force. It’s Still Struggling.  NY Times

Report: Federal Contract Spending Rose by 6% Annually From FY 2014-2018  GovConWire

Blockchain Bitcoin

Cryptos: Winklevoss twins’ Gemini ad campaign hopes to ignite the ‘people’s movement’  Marketwatch

Crypto mining giant Bitmain is reportedly getting a new CEO as its IPO plan stalls  TechCrunch

Casinos Gambling

Japan’s Kamori Kanko proposes casino project for Hokkaido  GGRasia

GGR bounce from Macau whales 2H 2019: Nomura  GGRasia

Japan’s Universal Ent starts US$19mln share buy-back  GGRasia

Social Media

FB  Instagram lets you post on multiple accounts at the same time – CNET  Cnet

GOOGL  YouTube influencers: Inside the weird world of social media burnout  BBC World News

TWTR  Twitter Mulls Redesign That Looks a Heck of a Lot Like Facebook, Just With More Neo-Nazis  The Verge

In Europe, Programmatic Ad Spending Grows by Double Digits  “…now accounts for the majority of digital display spending in France, Germany and the UK, following the trend that we’ve seen in the US.”  eMarketer

Opinion  GOOGL  Google can limit right to be forgotten to EU:EU court adviser  Reuters

FaceBook

Facebook exec targeted by hoax call drawing heavy police response  The Mercury News

Facebook to ramp up ‘integrity efforts’ in India  Economic Times of India

Facebook is bracing itself for an onslaught of fake news in India  Quartz

Travel Hotel

Air travel fears mount as U.S. government shutdown drags on  Reuters

EWG  German airport security staff strike hits more than 600 flights  Reuters

Auto

FCAU  Fiat Chrysler to pay more than $700 million over U.S. diesel emissions claims: sources  Reuters

TSLA  Tesla is discontinuing 75 kWh battery pack for Model S and Model X  Electrek

SQM ALB  LG Chem to spend $1.07 billion on expanding battery plants in China  Reuters

Jaguar Land Rover may cut up to 5,000 jobs  “Carmaker to unveil savings plan amid falling sales, Brexit and the VW diesel scandal”  The Guardian

VLKAY  VW Is Setting Up Electric Car Charging Stations in China  “Volkswagen and long-standing carmaker partner China FAW Group Co. will each own 30 percent of the venture operating charging facilities nationwide, said the people, who asked not to be named as the discussions are private. Two other Chinese companies will hold the rest, the people said.”  Bloomberg

NIO Inc. Provides December 2018 Monthly Delivery Update  ” “The delivery of 3,318 ES8s in December exceeded our expectation, which was in part due to accelerated deliveries made at the year end in anticipation of expected EV subsidy reductions in China in 2019.”  Press Release

NSANY  Ghosn sought $30m Nissan loan to Saudi friend, say sources  “Tokyo prosecutors prepare new indictment against auto executive on Friday”  Nikkei

TSLA  Tesla *with* Autopilot engaged is twice as safe & continues to make steady improvements  Elon Musk on Twitter

VLKAY  Exclusive: VW, China spearhead $300 billion global drive to electrify cars  Reuters

Briefing: Didi employees involved in 60 cases of internal corruption in 2018  TechNode

TSLA  Tesla aims for safer airbag deployment by knowing your weight through seat sensors  Electrek

Retail

FDA Continues Investigation into Source of E. coli O157:H7 Outbreak Linked to Romaine Lettuce Grown in CA; CDC Reports End to Associated Illnesses  CDC

KO  Coca-Cola Is Quietly Influencing China’s Obesity Policy—and Shifting Blame From Itself  Gizmodo

Sears Chairman Lampert submits new roughly US$5 billion bid for retailer – sources  Channel NewsAsia

MAKSY  Marks & Spencer sales slide over Christmas  BBC World News

TSCDY  Tesco reports strong Christmas trading  BBC World News

MO  Juul Is Leaning Hard Into Its New ‘Adult Education Campaign’  Gizmodo

Apple

TLS.AX  Telstra’s exclusive 5G smartphones will arrive before any other Aussie telco  TechRadar

Apple Maps turn-by-turn directions now available in India  9to5Mac

Energy Commodities

EWU  Japan to axe ban on British beef imports as Shinzo Abe holds talks with Theresa May  The Mirror

Solar Farms Sprouting In Kauai & Florida  Clean Technica

Trade war cuts U.S. LNG exports to China in 2018  Reuters

USO  Saudi’s Oil and Gas Reserves Are Bigger Than Previously Reported  Al Bawaba

Japanese utilities send power to Chubu Elec on cold weather demand spike  Reuters

JASO JKS CSIQ  China launches subsidy-free solar, wind power after project costs fall  Reuters

CZZ  India’s sugar mills struggling to export surplus as overseas prices fall  Economic Times of India

Wheat prices likely to fall on bumper crop forecast  India  Economic Times of India

Metals

Australia’s Port Hedland iron ore shipments to China jump 14 pct in Dec  “Iron ore shipments to China from the world’s biggest iron ore port totalled 37.4-million tonnes in December, compared with November’s 32.9-million tonnes, the Pilbara Ports Authority said.”  Reuters

Lycopodium wins another Perseus contract  “Lycopodium told shareholders on Thursday that the contract is expected to generate some $95.1-million in revenue.”  Creamer’s

Opinion  AA  Aluminium is the market to watch closely in 2019  Economic Times of India

Europe

EWU  Tory rebels join forces with Labour over Brexit  “MPs open talks as May loses in Commons again”  Sunday Times

EWU  Corbyn Calls for General Election If May’s Brexit Deal Founders  Bloomberg

Europe placed on RED ALERT as heavy snow blankets Germany and Austria  Daily Mail

Opinion  GREK  Greece’s Great Hemorrhaging  NY Times

China

China’s CPI up 1.9 pct in December  “China’s consumer price index (CPI), a main gauge of inflation, rose 1.9 percent year-on-year in December, down from 2.2 percent for November. The increase was the lowest since June 2018.”  Xinhua

China says trade talks with U.S. made progress on forced tech transfers, IP rights  “Spokesman for the Chinese Ministry of Commerce Gao Feng said on Thursday that during the three day talks, China and the United States made progress on structural issues such as forced technology transfer and intellectual property rights. Asked why the negotiations were extended by a day, Gao said it was due to both sides being “serious and honest,” but offered no insight into what they agreed upon. He added, however, that Washington and Beijing will push forward consultations as initially planned. The spokesman seized the opportunity to urge foreign auto makers…”  Reuters

Xi’s US strategy recalls Mao’s ‘protracted war’  “Chinese leader calls on people to unite for an extended battle”  Nikkei

China’s Digital Silk Road Is Looking More Like an Iron Curtain  “The funding of tech projects in dozens of countries may well divide the world.”  Bloomberg

China launches campaign to regulate health product market  “Authorities will crack down on such irregularities as false advertising, counterfeit and low-quality products as well as illegal direct selling and pyramid selling.”  Xinhua

Further Rally on Horizon for China’s Yuan as It Breaks Key Level  “Potential trade deal, weaker greenback may support currency. Yuan gains past 6.8 per dollar for the first time since August”  Bloomberg

China’s Uber Wealthy Are Preparing For $24 Trillion Tax Raid  Zero Hedge

China’s Henan underperforms on smog after winter surge  Reuters

China, U.S. hold vice-ministerial level talk on economic, trade issues in Beijing  Xinhua

German industry demands tougher EU line on China  Reuters

Renminbi firms to 5-month high as dollar loses ground in Asia  “China’s currency strengthened to it’s firmest level against the dollar in more than 150 days on Thursday as the greenback continued to lose ground….”  Financial Times

Opinion  Chinese Overcapacity Returns to Haunt Global Industry  “Beijing’s ‘supply-side reforms’ helped reduce global overcapacity—for a while”  WSJ

Opinion  China says trade talks with U.S. set foundation to resolve concerns  Reuters

Opinion  Ex-Australian PM: US-China trade talks won’t close ‘systemic’ rift  “Rudd predicts Beijing will cozy up with Japan and other neighbors in response”  Nikkei

Linger  China mobilises supersonic nuclear missile that ‘could reach US’  Daily Mail

North Korea

North Korea’s Kim says to work for ‘welcomed’ result in second Trump summit  Xinhua

We’re your only real friends, North Korea’s Kim tells Chinese President during summit  Daily Mail

South Korea’s Moon calls for ‘bold steps’ ahead of second Kim-Trump summit  “South Korean President Moon Jae-in said on Thursday North Korea should take bold steps towards denuclearisation, such as abandoning long-range missiles, to extract U.S. concessions amid a prolonged stalemate in their nuclear negotiations.”  Reuters

Xi Jinping accepts offer to visit Pyongyang, North Korea state media says  “Beijing says it supports North Korea and US holding summits and ‘hopes they will meet halfway’, but makes no mention of Xi’s trip”  SCMP

Asia

EWJ  The Bank of Japan warned Thursday that risks to the global economy including heightened trade tensions between the United States and China are beginning to have an adverse effect on Japanese companies.  Bank of Japan

VNM  Vietnam reaps sixth straight record year in foreign investment  “Trade war drives 9% gain in 2018, pulling garment production from China”  Nikkei

EWT  U.S. tells China to stop coercion, resume dialogue with Taiwan  Focus Taiwan

EWT  Taiwan shares close down 0.18%  Focus Taiwan

Japan weather bureau sees 80 percent chance of El Nino continuing into spring  Reuters

Opinion  US to blame if any South China Sea clash occur: Chinese researcher  Economic Times of India

International

New Brazil government drops ‘diversity’ from school books  AFP

Venezuela’s defence minister asked Maduro to resign  Washington Post

Russia Ukraine

Ukraine set not to allow Russian observers to monitor presidential elections  TASS

Russia Confirms ‘Meteor Shower’ Was Actually a Missile Defense Satellite  Moscow Times

Russia Summons Japan Envoy Over Tokyo’s Comments on Disputed Island Row  Moscow Times

Middle East

“The Emirates NBD Purchasing Managers’ Index (PMI) for the UAE dipped from 55.8 in November to 54.0 in December  ” This marked the slowest pace of expansion in the non-oil private sector since October 2016″  IHS Markit

KSA  Emirates NBD Saudi Arabia PMI  “PMI shows slightly slower non-oil private sector growth in December”  IHS Markit

EGPT  The Emirates NBD Purchasing Managers’ Index (PMI) for Egypt is closing the year on a positive note as it climbed to 49.6 in December, compared to 49.2 the previous month  IHS Markit

KSA  Saudi Arabia passes bond test as investors look past Khashoggi  Reuters

TUR  Turkey says U.S. missile deal impossible if tied to dropping Russian S-400s  Reuters

KSA  Pakistan, Saudi Arabia likely to sign MoUs worth $10 billion  Economic Times of India

Africa

Sudan police use tear gas as protests kill three: SUNA  Reuters

KSA  Houthi drone attack on Yemeni base kills several people – reports  “Witnesses say explosion, during military parade, wounded high-ranking officials”  The Guardian

Zimbabwe doctors end strike without deal as unions meet government  Reuters

Congo presidential loser’s supporters cry foul after surprise result  Reuters

Politics  Opposition candidate Felix Tshisekedi declared winner of Congo’s election  Washington Post

Medical Marijuana

The Details of Kentucky’s New Medical Marijuana Bill Have Been Revealed  High Times

‘Tell Your Children’ to Reject Alex Berenson’s Debunked Nonsense  Leafly

Marijuana tech is being shunned at CES 2019  Mashable

‘Better Than Ever’ Cannabis Coalition Hits the Ground Running  Leafly

High Times Has Some Glossy New Competition  “Print is dying but magazines about marijuana are thriving.:  NY Times

The Latest in Medical Cannabis Research: Winter 2018  Leafly

Recreational Marijuana Sales Might Not Be Hurting the Alcohol Industry After All  Fortune

Economics

Cost of the Government Shutdown? Billions and Rising. It’s Cheaper To Keep the Government Running  Fortune

The state of seed  TechCrunch

American Cheese Surplus Reaches Record High  Slashdot

Politics

President Trump will not answer any more questions from Mueller – Giuliani  Channel NewsAsia

With SEC workers offline, the government shutdown could screw IPO-ready companies  TechCrunch

U.S. Fed may be open to changes to balance sheet plan, minutes show  Reuters

Trump Storms Out of Lawmaker Meeting as Shutdown Talks Collapse  “Pelosi says president’s approach to talks was ‘pathetic’”  Bloomberg

Trump Poised for Battle With His Own Party on Trade-War Powers  ” GOP senators speak against plans to increase Trump’s authority”  Bloomberg

Klobuchar says she was denied Barr meeting before hearing because of shutdown  Politico

Donald Trump’s US-Mexico border wall could take 10 years to build, even with 10,000 workers  South China Morning Post

Trump dubs media the ‘Opposition Party,’ accuses press of working with Dems  The Hill

Opinion

American’s Aren’t Making Enough Babies, Says CDC  Fortune

Wall Street Says the Stock Market Will Soar This Year. Don’t Fall For the Fantasy  Fortune

Linger

SMSI  Smith Micro Completes Acquisition of Smart Retail Product Suite from ISM Connect  Press Release

UMC  UPDATE 1-China chipmaker Fujian Jinhua pleads not guilty to US theft charges  Reuters

Futurelook

Wireless Tech Company Finds Way To Charge Drones In Flight  Slashdot

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