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Nov 23, 2018

Wat's news I WSJ: U.S. Asks Allies to Drop Huawei; Black Friday Is Here; Arrest Tests Nissan-Renault Ties


The Wall Street Journal.


What’s News



Good Morning

Here’s what we’re watching as the U.S. business day gets under way:

Washington is asking allies to drop Huawei. Worried about Chinese meddling in 5G networks, the U.S. government has begun an extraordinary outreach campaign to foreign allies, trying to persuade wireless and internet providers in these countries to avoid equipment from the company.

“I found this very, very violent.” Nissan's board voted unanimously to oust Chairman Carlos Ghosn from his post, and allegations emerged that he used company money to buy personal residences and pay his sister for work she didn’t perform. While Mr. Ghosn is in detention, the global auto alliance he ran is showing signs of strain.

Black Friday is here. Despite thousands of Sears, Toys “R” Us and other stores closing, the surviving chains are picking up business from displaced shoppers hunting for new places to find deals on toys, washing machines and clothes. Here are six ways to get a deal online this holiday season.




The House Judiciary chief subpoenaed James Comey and Loretta Lynch. As the Republican hold on the House winds down, departing Chairman Rep. Bob Goodlatte (R., Va.) subpoenaed the former FBI director and former attorney general to testify early next month.

A light-rail extension. An interstate highway. A ferry terminal. State and local governments may have to pay millions of dollars more to finance these and other infrastructure projects because of a combination of steel tariffs, a strong economy and a tight labor market pushing construction costs higher.

Washington is asking allies to drop Huawei. Worried about Chinese meddling in 5G networks, the U.S. government has begun an extraordinary outreach campaign to foreign allies, trying to persuade wireless and internet providers in these countries to avoid equipment from the company.

“I found this very, very violent.” Nissan's board voted unanimously to oust Chairman Carlos Ghosn from his post, and allegations emerged that he used company money to buy personal residences and pay his sister for work she didn’t perform. While Mr. Ghosn is in detention, the global auto alliance he ran is showing signs of strain.

Black Friday is here. Despite thousands of Sears, Toys “R” Us and other stores closing, the surviving chains are picking up business from displaced shoppers hunting for new places to find deals on toys, washing machines and clothes. Here are six ways to get a deal online this holiday season.





The House Judiciary chief subpoenaed James Comey and Loretta Lynch. As the Republican hold on the House winds down, departing Chairman Rep. Bob Goodlatte (R., Va.) subpoenaed the former FBI director and former attorney general to testify early next month.

A light-rail extension. An interstate highway. A ferry terminal. State and local governments may have to pay millions of dollars more to finance these and other infrastructure projects because of a combination of steel tariffs, a strong economy and a tight labor market pushing construction costs higher.

What's Trending

MOHAMED AL-SAYAGHI/REUTERS 

Yemen's war is opening the way for al Qaeda’s revival. Nearly two years after being driven from its stronghold in Yemen, the extremist group's franchise that is most focused on attacking the West is benefiting from the Saudi-backed conflict's human and economic devastation.


Chart of the Day

A retreat of smaller lenders is adding pressure to housing. Smaller U.S. mortgage firms are trimming staff, putting themselves up for sale and closing up shop at a clip not seen in years, a sign of the mounting pressure on the housing market as interest rates rise and a long economic expansion matures.

News From Other Sources

Crypto losses near $700 billion in worst week since bubble burst. Bitcoin sank toward $4,000 and most of its peers tumbled Friday. That’s the worst five-day stretch since crypto-mania peaked in early January.

via Bloomberg
Europe must curb immigration to stop rightwing populists, Hillary Clinton says. She called on the continent’s leaders to send a stronger signal they are “not going to be able to continue to provide refuge and support”.

via the Guardian
Wealthy nations fall short of climate funding pledge. A United Nations report found that donor countries are more than $20 billion short of their 2020 target to help poorer nations combat global warming.

via the Financial Times 

This Day in History

Nov. 23, 1980
Italy Earthquake Kills Thousands
An earthquake in southern Italy ended up killing about 3,000 people and left hundreds of thousands homeless. The quake was centered south of Naples and was particularly deadly because the tremor struck during Sunday night mass when many people were in churches that crumbled.
THE WALL STREET JOURNAL
—Compiled and edited by Phil Nobile in New York and Katy Barnato in London

Trump mixes Thanksgiving cheer with politics. Speaking with members of the military, the president emphasized the importance of U.S.-Saudi Arabia ties, praised U.S. troop deployments to the Mexican border and continued to display irritation with the judicial branch.

The U.K. is inching toward a smooth Brexit. European Union and British negotiators agreed on an outline of future ties between the two, but Prime Minister Theresa May faces an uphill battle to win parliamentary backing for the deal in Britain.

The search for Paradise's missing goes on. Thanksgiving didn't stop the search for the missing from California's deadliest wildfire. More than 820 people continued search efforts for the more than 500 residents who remain unaccounted for after the Camp Fire tore through the state.





Not so big in Japan. Less than a month after releasing the iPhone XR, Apple is offering a de facto discount in Japan. That, coupled with deep cuts in global production, signals limited enthusiasm among consumers for the model.

A big experiment in tiny satellites. Hundreds of bargain-basement spacecraft are transforming the business of space operations. They image crops, beam internet service, gather weather data and count the cars in shopping malls to gauge retail sales. Aerospace companies have filed plans to orbit thousands of these satellites in the coming decade.




We can all be thankful America doesn't have Putin. The Journal's Joe Queenan on things that all of us—left or right, black or white, young or old, smart or really, really, dumb—can agree to be thankful for this holiday season.

THE WALL STREET JOURNAL
—Compiled and edited by Phil Nobile in New York and Katy Barnato in London

Source:  WSJ











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