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Global Business News for 11 Dec 2018

What Calabria at FHFA would mean for GSE reform

American Banker - 11 Dec 2018 00:08
The administration's reported interest in having the White House aide run Fannie Mae and Freddie Mac's regulator signals a focus on constraining the mortgage giants' role in the housing market.
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PayPal is opening its Xoom international money transfer service outside the U.S. starting with Canada. More markets will be added in the coming months.
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Almost half of SP 500 stocks in a bear market

Money Control - 11 Dec 2018 05:16
Almost half of SP 500 stocksThe SP 500 index has been in a correction since October, defined by many investors as a drop of 10 percent or more from a high.
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Broker-dealers Citadel Securities, Natixis Securities Americas LLC and MUFG Securities Americas Inc agreed to pay total penalties of more than $6 million to settle charges of providing incomplete... trading data, the U.S. Securities and Exchange Commission (SEC) said on Monday.
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Compared with their peers overseas, the Indian ultra-rich hold a smaller proportion of their wealth in liquid assets, with one third invested in their primary businesses.
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Money's Past is Crypto's Future

Forbes - 11 Dec 2018 04:16
Money's Past is Crypto'sPeople who wonder about the future of Bitcoin and other cryptocurrencies need look no further than the history of American 'banknotes.' The dollar is sure to go digital, and when it does there will be... little more talk of crypto than there is now of 'wildcat banking.'
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Wall Street ends on high noteWall Street went through another day of whiplash Monday, with the Dow dropping more than 500 points amid UK turmoil before ending the day up on bullish economic reports. The early pain came after UK... Prime Minister Theresa May announced she was postponing a vote on a plan to leave the European Union. "This was...
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The U.S. Securities and Exchange Commission said on Monday that Citadel Securities LLC has been ordered to pay a penalty of $3.5 million for reporting incorrect trade execution data for about 80... million trades from November 2012 to August 2016.
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Contractor near collapse over $4m Water Corporation feud

The West Australian - 11 Dec 2018 01:03
Cobey Industries, which has worked for the utility for two decades, has been shut out of tendering for extra work over claims it is owed $4m for a pipeline contract.
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Dubai's new supermarketIntroducingthe world's first sail-thru supermarket,Carrefour Bites and More by the Shore. It'sbasically a mini-mart anchored out in the ocean.        
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Daimler to buy $23B worth ofFRANKFURT -- Daimler will buy battery cells worth more than 20 billion euros ($23 billion) by 2030 as it readies mass production of hybrid and electric vehicles, the maker of Mercedes-Benz cars said... on Tuesday. The company is one of a number of German automakers massively expanding in electric vehicles as European regulators clamp down...
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Here is the latest on what Fed officials have said about interest-rate policy going into their two-day meeting that ends on Dec. 19
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Google CEO Sundar Pichai faces questions on transparency and accountability from the House Judiciary Committee
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U.S. stocks marched higher Tuesday as Wall Street looks to build on Monday's gains as the U.S. and China resume trade talks.
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Ousted Nissan Chairman GhosnTOKYO -- A Tokyo court ruled Tuesday that Nissan Motor Co.'s former chairman, Carlos Ghosn, and another executive will remain in custody through Dec. 20, more than a month after their arrest. Their... detention could continue for months more under the Japanese legal system. The Tokyo District Court said Tuesday that it had rejected a...
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A former Canadian diplomat has been detained in China, two sources said on Tuesday, just hours before a top executive at Chinese telecoms giant Huawei Technologies [HWT.UL] is set to return to a... Vancouver courtroom for a bail hearing that has angered Beijing.
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More than 10,000 VerizonThe 10,400 departing Verizon employees agreed to a buyout, with some receiving up to 60 weeks' salary, bonus and other benefits.        
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Markets Right Now: Tech stocksStocks are opening higher on Wall Street as technology companies gain back some of the ground they've lost in recent days.
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Google CEO Sundar Pichai toWASHINGTON -- Google's CEO faces a grilling from US lawmakers on how the web search giant handled an alarming data breach and whether it may bend to Chinese government censorship demands. CEO Sundar... Pichai's appearance Tuesday before the House Judiciary Committee comes after he angered members of a Senate panel in September by declining their...
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Laser pointers should beParents are being warned that their children's eyesight could be at risk.
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The chatbot bubble has officially burst

Fast Company - 11 Dec 2018 10:00
The chatbot bubble hasGoogle Allo is the latest casualty of Silicon Valley’s course correction on conversational interfaces. Google Allo is done. Announced in 2016, it was Google’s big attempt to build a Google... chatbot right into your text message conversations. Allo’s death signals something important to the tech industry: Nobody wants a chatbot listening in on their intimate conversations–especially when that chatbot is near useless. Read Full Story
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Attacking Huawei will backfire

Sydney Morning Herald - 11 Dec 2018 05:54
Let there be no doubt: the China hawks in the US are poking a lion that is wide awake and increasingly angry.
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How banks could fend off Amazon and Facebook

American Banker - 11 Dec 2018 05:42
Nearly 60% of people thinking about switching banks would be open to banking with a big tech company if they ever get that option. Cash incentives or existing savings accounts are big factors in... consumer decisions -- and things that banks could keep in mind in their efforts to recruit or retain customers.
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A Chinese court has ordered a ban on the sale of several older Apple Inc iPhone models in China for violating two patents of chipmaker Qualcomm Inc, although Apple said all of its phone models... remained on sale in the mainland.
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Delta Airlines said Monday that it will ban all emotional support animals on flights longer than 8 hours and will ban all service and support animals under four months of age on flights no matter the... duration. The policy will go into effect Dec. 18, ahead of the Christmas holiday travel season.
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