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Dec 5, 2018

Trade Jitters Return; Funeral of George H.W. Bush; Mueller Recommends No Jail Time for Flynn

The Wall Street Journal.
Newspaper.
What’s News
Sun icon. Good Morning
Here’s what we’re watching as the U.S. business day gets under way:
Stocks tumble as trade jitters return. Investors broadly retreated from stocks and bond yields plummeted as doubts over the U.S.-China trade truce renewed anxieties about the pace of economic growth. U.S. stock exchanges are closed today for a national day of mourning for former President George H.W. Bush.
  • U.S. vows tough stance on Beijing. White House officials said they planned to take a tough stand in their 90-day trade negotiations with China or impose further tariffs. Chinese officials said the talks have a “clear timeline and road map.”
     
  • In a rocky year, cash is a star. U.S. cash and cash equivalents are on track to be some of the best-performing assets in 2018, enticing money managers struggling with a rare synchronized downturn.
 
Robert Mueller recommends Mike Flynn be spared prison time. The U.S. special counsel has requested leniency, saying that Trump’s ex-adviser provided "substantial assistance" in the investigation into Russian election interference and other matters.
Bush's trade legacy on the line. President Trump will bid farewell to George H.W. Bush today, days after signing a pact to replace Nafta, a trade deal established by the former president.
Takeda shareholders approve $62 billion bid for Shire. Despite a campaign by some shareholders to block the deal, the Japanese pharmaceutical giant's acquisition of the U.K. drugmaker will help it to gain a greater foothold in more lucrative markets.

What's Trending

LACHLAN BAILEY FOR WSJ. MAGAZINE
Goop CEO Gwyneth Paltrow is living her best life—and believes she can help you live yours better, too. Founded by Paltrow as a niche website, Goop has since incorporated and its valuation hit $250 million this year. For many, it serves and an unofficial portal to all things wellness, with Paltrow in the role of patron saint—and lightning rod.
Keep tabs on WSJ. Magazine and sign up for the weekly newsletter.
 
Amazon could be hit by Postal Service review proposals. A Treasury-led task force proposed that the U.S. Postal Service charge more for certain package deliveries, going after Amazon and other online retailers that President Trump has said benefit at the post office’s expense.
Senators conclude the Saudi crown prince ordered journalist's killing. After a meeting with CIA Director Gina Haspel, several lawmakers from both parties said they had no doubt that Prince Mohammed was behind the killing of journalist Jamal Khashoggi.
China maneuvers to snag Boeing satellite technology. The satellite is manufactured by Boeing. It would be launched by SpaceX. But what if its ultimate owner is China? Despite being barred from buying American equipment, a secret deal might have provided a backdoor for Beijing.
House GOP campaign committee says it was hacked. The campaign arm for Republican congressional candidates fell victim to a cyberattack in April, fueling concerns that the 2018 election campaign may have been more seriously targeted by hackers than previously known.
The U.S. will suspend its nuclear treaty with Russia in 60 days. Secretary of State Mike Pompeo said the U.S. would be free to develop and test a range of weapons if Moscow failed to meet the deadline to comply, adding that Russia was in “flagrant violation” of the accord.
What's wrong with your Venmo account? The Journal's Katherine Bindley writes that the payment app does well on what it's supposed to do: let friends exchange money quickly and easily. But you might be sharing more than you think. Here’s how to tighten up your privacy settings.

Tech Watch

Highlights from our technology coverage
Apple investigated its supply chain. Apple conducted an investigation earlier this year into possible kickbacks, bribes and other business misconduct within its supply chain, rattling some of the tech giant’s suppliers and staff in China.
Facebook considered charging for access to user data. Internal emails show the social network several years ago considered the step, which would have marked a dramatic shift away from its policy of not selling that information.
Here’s a reality check on robots—they create jobs. Robots may be coming for our jobs. But a growing body of evidence suggests automation is the key to the next boom, and workers have everything to gain from welcoming them, Christopher Mims writes.
How Microsoft quietly became the world’s most valuable company. CEO Satya Nadella focused more on selling humdrum yet fast-growing computing services to companies rather than chasing flashy consumer businesses.
An unexpected delivery from Amazon. New parents who signed up for a baby registry with the retailing giant are getting gifts they didn’t ask for. Turns out unsuspecting friends and family were purchasing goods the parents didn’t ask for via sponsored ads.
Want more tech? Get the WSJ Technology newsletter delivered to your inbox every Sunday and listen to your favorite tech columnists in our new podcast, Instant Message.
 

News From Other Sources

First baby born from womb transplanted from deceased donor. Experts had begun to doubt if using a dead donor would be possible after 10 unsuccessful attempts. The 6-pound baby girl’s birth marks another milestone in fertility treatment.
via the Independent
Who wants to be a cop? Across the U.S., job applications to become a police officer have dropped dramatically. Stories of police misconduct have damaged public perception but forces are taking steps to address their reputation.
via the Washington Post
World Bank doubles financing for climate change. The global lender will make $200 billion available to fund action after reports showed the dangers of extreme weather and the need for governments to more than triple their efforts to reduce greenhouse-gas emissions.
via the Guardian
 

This Day in History

Dec. 5, 1955
AFL-CIO Meets After Merger
The newly created AFL-CIO, combining the American Federation of Labor and the Congress of Industrial Organizations, held its first convention the day after it was founded. The group now claims more than 12 million members and comprises more than 50 labor unions, the largest federation of unions in the U.S.
THE WALL STREET JOURNAL
 
—Compiled and edited by Phil Nobile in New York and Bryony Watson in London

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