May hopes to restart Brexit talks after delaying UK parliamentary vote
The British prime minister, Theresa May, will meet with European leaders today hoping to strike a better Brexit agreement, reported the BBC and Financial Times. But the European Council president, Donald Tusk, said “we will not renegotiate the deal”, reported Politico. May has postponed a vote on the Brexit accord in the House of Commons, where she faces “an uphill battle”, as the Economist put it. The pound dropped to a two year low, noted the Guardian and Marketwatch.
Macron response to yellow jacket protests
The French president Emmanuel Macron has promised to raise the minimum wage by €100 a month and cut taxes on overtime pay in 2019, among other measures for workers. The moves were concessions to the Gilets jaunes (yellow vest) movement, who have been protesting the rising cost of living. Reported by the BBC, France 24 and Guardian.
Apple hit by China iPhone ban
Qualcomm, a chip and telecom equipment maker, won a temporary restraining order banning the import and sale of number of Apple iPhone models in China. The two firms are engaged in several intellectual property lawsuits around the world. Apple downplayed the Fuzhou court ruling, saying it applied to older software and all models remained on sale in China. Reported by the BBC, Financial Times and Telegraph.
Softbank mobile IPO is Japan’s largest stock market flotation
The Japanese investment group Softbank is expected to raise $23.5bn when it floats shares in its mobile business on 19 December. That makes it Japan’s largest and the world’s second largest IPO. Reported by CNN, the Financial Times and Reuters.
Goodyear halts Venezuela operations
The US tyre maker Goodyear has shut down production in Venezuela, citing the lack of materials and spiralling costs. As part of their severance payment, the firm is giving each of its 1,200 redundant workers 10 tyres, a valuable commodity in a country with an annualised inflation rate of 1,300,000%. Reported by the BBC, Bloomberg and Financial Post.
Indian central banker quits
The head of India’s central bank, Urjit Patel, resigned for “personal reasons” following tensions with the government over the Reserve Bank of India’s independence. The rupee and Indian bonds slid. Reported by Bloomberg, the BBC and CNN.
Cargolux profits to take off, says chief exec
The CEO of Cargolux, Richard Forson, said the freight airline would post record profits for 2018 in an interview with The Loadstar, an industry publication. Forson also stated that Cargolux had tapped $45m out of its $155m global credit line from Bank of China (its second financing deal with the bank).
Voyager 2 has left the solar system
The Voyager 2 probe has become the second manmade object to enter interstellar space. Nasa reckoned the 41 year old spacecraft left the heliopause (our solar system) on 5 November. Voyage 1 went interstellar in 2012. Reported by NPR, Scientific American and Space.com.
Jobs of the future
There’s demand for humanities and liberal arts graduates in Silicon Valley, according to PBS. The public TV network spoke with executives that studied literature, philosophy and political science who are now thriving in the technology industry, as well as a former professional ballet dancer who’s now doing a doctorate in mechanical engineering.
No translation needed
Apparently the German language does not have an exact word for “shitstorm”, as Angela Merkel, the German chancellor, illustrated during a speech earlier this month. Her use of the English phrase ruffled some feathers. The story from the New York Times. Seems to be a sign of the Zeitgeist.