Apple’s next big product

Smart glasses

Apple said earlier this week that it bought a small Colorado company that worked on lenses for augmented reality glasses.It’s pretty clear at this point that Apple is working on a pair of its own smartglasses. Of course Apple is working on new products in its $5 billion headquarters and research labs.

The company wouldn’t be as successful as it is if Apple CEO Tim Cook and his executive team weren’t constantly planning for three and five years into the future and asking themselves what computers could look like. It seems like the company has decided it will launch a pair of smartglasses that can impose digital information onto the real world through its advanced lenses.

http://www.businessinsider.com

Pollution in the city lowers education level by one year

The maths and verbal skills are at risk

Chronic exposure to air pollution can cause harm to cognitive performance, a new study reveals. Researchers believe that the negative impact increases with age, and affects men with less education the worst. Over four years, the maths and verbal skills of some 20,000 people in China were monitored by the US-Chinese study.  Scientists believe the results have global relevance, with more than 80% of the world’s urban population breathing unsafe levels of air pollution.

The study was based on measurements of sulphur dioxide, nitrogen dioxide and particulates smaller than 10 micrometres in diameter where participants lived. It is not clear how much each of these three pollutants is to blame. Carbon monoxide, ozone and larger particulates were not included in the study. Described as an invisible killer, air pollution causes an estimated seven million premature deaths a year worldwide, according to the World Health Organization.

http://www.nanocomputer.com

Trump wants to impose tariffs on $200 billion in Chinese imports

The US dollar, Chinese yuan fell

U.S. President Donald Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported on Thursday.

The White House declined comment on the Bloomberg report, which cited six unidentified sources, and deflated markets. The S&P hit session lows, and the U.S. dollar, Chinese yuan and U.S. Treasury yields also fell. Trump has credited his electoral success to his hard line on trade, which he has argued hurts U.S. workers and favors foreign competitors. Washington is demanding Beijing improve market access and intellectual property protections for U.S. companies, cut industrial subsidies and slash a $375 billion trade gap.

The world’s two largest economies have already applied tariffs to $50 billion of each other’s goods in a tit-for-tat trade war. Talks aimed at easing tensions ended last week without major breakthroughs. The new proposed 25 percent tariffs would affect consumer products including home building supplies, technology products, bicycles and apparel.

http://www.reuters.com

New NAFTA agreement possible

Canada and U.S. Express Optimism

The United States and Canada are aiming to reach a deal by the end of the week that keeps the three-country North American Free Trade Agreement intact, as President Trump and Prime Minister Justin Trudeau of Canada expressed optimism that the two countries could resolve their differences.

“I think Canada very much wants to make a deal,” Mr. Trump said from the Oval Office on Wednesday, sounding far more optimistic than just days before, when he announced a deal with Mexico and threatened to leave Canada behind.

http://www.nytimes.com

Trump warns Google, Facebook and Twitter in row over bias

Google, Facebook, Twitter  had to be “very careful”

US President Donald Trump has warned Google, Twitter and Facebook they are “treading on troubled territory” amid a row over perceived bias. He said they had to be “very careful”, after earlier accusing Google of rigging the search results for the phrase “Trump news”. An aide said the administration was “looking into” the issue of regulation.

Google said its search engine set no political agenda and was not biased towards any political ideology. Speaking to reporters at the White House, Mr Trump said Google had “really taken a lot of advantage of a lot of people, it’s a very serious thing”. Adding the names of Facebook and Twitter, he said: “They better be careful, because you can’t do that to people… we have literally thousands of complaints coming in.”

http://www.bbc.com

Separate U.S.-Mexico trade agreement

Canada may join later

The Trump administration said Monday it had reached a new, 16-year trade deal with Mexico, setting in motion a rapid chain of events that could redraw the world’s largest trade agreement.

The ultimate scope of the deal could hinge on whether Canadian prime minister Justin Trudeau decides to join the agreement after months of feuding with President Trump.

White House officials said the agreement, centered largely on manufacturing, would help American workers by making it harder for countries like China to ship cheap products through Mexico and then into the United States. Harmonizing labor and environmental rules would also protect U.S. jobs and salaries, the officials said, by making it less attractive for U.S. companies to move operations to Mexico.

http://www.washingtonpost.com

Tesla will remain a publicly traded company

Shareholders:  “Please don’t do this”

Tesla will remain a publicly traded company, CEO Elon Musk said late Friday, just weeks after he floated the idea of going private in order to ward off short-sellers and volatility in the company’s stock.

In early August, Musk touched off a firestorm by saying on Twitter that he was considering taking Tesla private at $420 per share, adding that funding was “secured.” In the wake of that announcement, the billionaire and his company have been buffeted by skepticism, in addition to the threat of a regulatory probe.

However, in a post on Tesla’s website, Musk cited resistance from shareholders, in addition to other logistical hurdles, as rendering the proposition unattractive.

http://www.cnbc.com

Tesla stock could be worth $4,000

CEO of  ARK Invest: Tesla share could be valued 10 times in 5 years

Elon Musk thinks he could take Tesla private at $420 a share. But one Tesla investor thinks that’s a bad idea — because the stock could be worth nearly ten times that amount in the most optimistic of scenarios. Cathie Wood, CEO of money management firm ARK Invest, wrote an open letter to Musk earlier this week saying that Tesla could be valued somewhere between $700 and $4,000 per share in five years.

Wood tweeted out a link for the letter to Elon Musk Wednesday night. Musk responded in less than an hour, telling Wood “thank you for the thoughtful letter.” In an interview with CNNMoney Thursday, Wood said that Tesla’s investor relations responded quickly to her letter as well and passed it on to the board, but the board has not gotten back to her as of yet.

Tesla (TSLA) shares surged after Musk’s now infamous“funding secured” tweet earlier this month, hitting a peak of $387.46 in the process.
https://www.cnn.com

Aramco listing plan halted

Oil giant disbands advisors

Saudi Arabia has called off both the domestic and international stock listing of state oil giant Aramco, billed as the biggest such deal in history, four senior industry sources said on Wednesday. The financial advisors working on the proposed listing have been disbanded, as Saudi Arabia shifts its attention to a proposed acquisition of a “strategic stake” in local petrochemicals maker Saudi Basic Industries Corp 2010.SE, two of the sources said.

“The decision to call off the IPO was taken some time ago, but no-one can disclose this, so statements are gradually going that way – first delay then calling off,” a Saudi source familiar with the IPO plans said. Saudi Arabia’s energy minister denied that Aramco’s initial public offering would be called off, in a statement issued early on Thursday.

“The government remains committed to the initial public offering of Saudi Aramco, in accordance with the appropriate circumstances and appropriate time chosen by the Government,” Energy Minister Khalid al-Falih said in the statement.

https://www.reuters.com

Bull market, on cusp of becoming longest in history for stocks

There is room to run

Stamping an expiration date on the bull market for stocks that began almost a decade ago has proven to be a losing proposition. The long, upward rise in U.S. stock prices that began in March 2009 near the end of the Great Recession – a rally that survived countless scares and was doubted every step of the way by market skeptics – is about to surpass the famed surge from the 1990s as the longest-running bull in Wall Street history.

No bull market lasts forever, of course, and Wall Street pros are on the lookout for signs of this one’s eventual demise. But the upward climb for the Standard & Poor’s 500 stock index, which on Wednesday is almost certain to reach a record-breaking 3,453 calendar days without suffering a 20 percent drop, could keep going. The main drivers pushing share prices even higher, market experts say, are a U.S. economy powering along at its fastest clip since 2014, companies growing their profits at the best pace in eight years and the nation’s jobless rate now at an 18-year low.

https://www.usatoday.com

No-deal Brexit could see hospitals run out of medicine

Status of EU workers at risk

Hospitals will be in danger of drug shortages in the event of a no-deal Brexit, NHS trusts have warned privately. Poorly coordinated ministers and health service bosses have failed to properly prepare for the possibility of the UK crashing out of the European Union, according to a leaked letter fromNHS Providers, which represents the trusts. “Public health and disease control coordination could suffer,” said the organisation’s chief executive Chris Hopson, who warned a hard Brexit or no deal could negatively impact upon “the entire supply chain of pharmaceuticals”.

Brexit could also jeopardise the status of EU workers ”on which the NHS relies”, he added.

https://www.independant.co.uk

Greece emerges from eurozone bailout programme

Greece is now free to borrow money on the financial markets

Greece has successfully completed a three-year eurozone bailout programme designed to help it cope with the fallout from its debt crisis. For the first time in eight years, Greece is now free to borrow money on the financial markets. As a condition of the loans, the Greek government was forced to introduce a series of unpopular austerity measures.
The Greek economy has grown slowly in recent years but is still 25% smaller than when the crisis began. Together with assistance from International Monetary Fund (IMF), the loans given to Greece since 2010 amounted to more than €260bn – the biggest bailout in global financial history. The European Stability Mechanism (ESM) provided the country with €61.9bn (£55bn; $70.8bn) over the three years.

https://www.bbc.com

Federal Lawsuit Against Opioid Makers

Opioid companies face hundreds of local, state lawsuits

“Some states have done it,” Trump said during a Cabinet meeting at the White House. “But I’d like a lawsuit to be brought against these companies that are really sending opioids at a level — it shouldn’t be happening. So highly addictive. People go into a hospital with a broken arm, they come out, they’re a drug addict.”

Drugmakers such as Purdue Pharma LP and Johnson & Johnson that sell opioid painkillers face hundreds of lawsuits filed by states, cities, counties, Native American tribes and labor unions as the epidemic of addiction continues to rage in the U.S. The Centers for Disease Control and Prevention said preliminary estimates indicate that almost 72,000 Americans died from opioid overdoses last year, a figure that has been rising for years.

https://www.bloomberg.com/

62% of America’s Jobs Pay Less Than $20 Per Hour

US has 130 million jobs overall

Almost two-thirds of America’s jobs aren’t paying a cent more than $20 an hour, according to the Bureau of Labor Statistics (BLS). That means 62 percent of the nation’s jobs offer their employees less than $41,600 a year! The BLS report (h/t Horizon Credit Union) notes that the US has 130 million jobs overall.  Of those positions, 18 million pay less than $10 an hour and a startling 63 million pay between $10 and $20. Add it all up and you’ve got 81 million jobs (out of 130 million) paying their workers less than $20. This includes administrative assistants, personal care aides, and retail workers.

Employers that offer a more generous salary, more than $42,000 a year, make up about 38 percent of the nation’s jobs. According to CNN Money, 27 million jobs offer an hourly pay between $20 and $30. That includes plumbers, office supervisors, electricians, and insurance sales agents — all four positions have an hourly pay that hover around $24 an hour, an annual salary of about $50,000.

https://www.madamenoire.com/

Why Turkey’s currency is plunging

Turkey’s currency and stock market kept on falling

Turkey’s currency and stock market kept on falling Monday, weighed down by investor fears about the country’s economic policies and worsening relations with the United States. The lira fell as low as 6.89 to the dollar Monday, down about 7 percent on the day and 45 percent since the start of the year. The main stock index fell 3.5 percent.

Why is Turkey currency so weak? One reason is that cheap borrowing rates in major economies like the U.S. are rising, attracting investors’ money away from emerging economies like Turkey. Ultra-low interest rates in the U.S. and Europe had for years encouraged companies in Turkey to borrow in foreign currencies. That helped the economy, which booked 7 percent growth last year. But now the U.S. Federal Reserve is raising rates. That draws capital away from Turkey, weakening the currency. And it makes it more expensive for Turkish companies to repay the foreign currency debts, raising economic concerns that can further weaken the currency.

https://www.washingtonpost.com/

Saudi Arabia bought 5% stake in Tesla

The Saudi Public Investment Fund bought the shares in secondary markets

Saudi Arabia’s sovereign wealth fund has acquired a significant position in Tesla shares, according to the Financial Times. The media outlet said the Saudi’s Public Investment Fund bought a 3 percent to 5 percent stake in the electric car maker, according to people with direct knowledge of the matter.

The stake is worth $1.9 billion to $3.2 billion at the company’s current share price. The Saudi fund approached CEO Elon Musk about buying newly issued shares, the report said, but Tesla declined. Instead the Public Investment Fund bought the shares in secondary markets.

Reuters later confirmed the Saudi fund bought a stake “at just below 5 percent” of the company, according to a source familiar with the matter.

https://www.cnbc.com/