Donald Trump and Xi Jinping face each other at the G20 summit in 2017. The US president has said that further meetings on trade will take place at the G20 in Argentina. Photo credit: The White House
More Chinese industrial espionage; Google walk out and Apple fall. Delano’s breakfast briefing.
Trump and Xi talk trade
US president Donald Trump has said discussions on trade with his Chinese counterpart Xi Jinping are “moving along nicely” following a phone call between the two, CNBC reports. Trump tweeted on Thursday afternoon that the two leaders have scheduled meetings at the G20 summit in Argentina later this month. The Wall Street Journal reports that Larry Kudlow, director of the National Economic Council, said the phone call represented “a thaw” in relations.
Blockchain firm buys Planetary Resources
Planetary Resources says it has been acquired by blockchain venture production studio ConsenSys, Inc. in an “asset-purchase transaction,” Space News reports. The Luxembourg state is a shareholder of the asteroid mining company, which had already faced financial difficulties earlier this year, as Delano reported in August.
Aaron Banks suspected of crimes
Leave.EU co-founder Arron Banks and its CEO, Elizabeth Bilney, are being investigated by the National Crime Agency, The Guardian reports. The unofficial pro-Brexit campaign and the company used to finance it, as well as “other associated companies and individuals”, are under investigation over the suspicion a “number of criminal offences may have been committed”, the UK’s Electoral Committee has said. Banks and Bilney denied any allegations, claiming the Electoral Commission was biased because it had received EU funding.
Chinese indicted over trade secrets
In what the BBC says is the fourth economic espionage case the US justice department has brought against Chinese-based companies and individuals since September, 2 companies and 3 individuals have been indicted of conspiring to steal trade secrets from American semiconductor company Micron. “Enough is enough. It's time for China to join the community of lawful nations," attorney general Jess Sessions told the press on Thursday.
Google walk outs
Google staff in Singapore, Zurich, London, Tokyo, Berlin and New York were among those taking part in a global walk out on Thursday, the BBC and The Guardian report. Staff were protesting the way Google handles sexual misconduct allegations. The Huffington Post says the company has pledged to take a “much harder line on inappropriate behaviour.”
Apple stocks fall
Shares in Apple were down by 7% after the company reported its 4th quarter earnings on Thursday. CEO Tim Cook, said he was “seeing some macroeconomic weakness in some of the emerging markets,” according to an analysis of the report by Forbes. The company even briefly fell below its $1 trillion market cap, says CNBC. Investors are apparently concerned that Apple announced it would no longer disclose quarterly sales of iPhones, iPads, and Macs, Business Insider says.
According to the 2018 Global Wealth Report from the Credit Suisse Research Institute, a net worth of $871,320 is enough to be considered among the 1% of the world’s wealthiest. To be in the top 10% richest worldwide requires a net worth of $93,170. And just $4,210 makes you wealthier than half of the world's population. The reports says the top 10% of adults owns 85% of global wealth, while the top 1% accounts for 47%.
Drunk Japanese pilot
A Japanese pilot was arrested at Heathrow airport on Thursday after the driver of a crew bus alerted police that he smelled of alcohol. Katsutoshi Jitsukawa had 189mg of alcohol per 100ml of blood in his system, almost 10 times the 20mg limit for a pilot, The Guardian reports. He was due to pilot a Japan Airlines flight to Tokyo.
Today’s breakfast briefing was written by Duncan Roberts