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Dec 7, 2018

What's News: Fed May Slow Pace of Rate Raises; U.S. Takes Aim at Huawei; Latin America's Dark Secret

The Wall Street Journal.
What’s News
Sun icon. Good Morning
Here’s what we’re watching as the U.S. business day gets under way:
Fed may slow pace of rate increases. Officials are considering whether to signal a new wait-and-see mentality after a likely rate boost at their December meeting. How they manage this approach will depend in large part on the performance of the economy and markets in the weeks ahead.
U.S. takes aim at Huawei. The Trump administration’s efforts to extradite the CFO of China’s Huawei mark the start of a more aggressive phase in the countries’ tech rivalry and stand to intensify trade tensions.
Labor Department releases November jobs numbers. Economists surveyed by the Journal expect the report to show employers added 198,000 jobs and unemployment held at 3.7%. Here are five things to watch.
Boeing cancels satellite order backed by the Chinese. The decision follows a Journal investigation that highlighted China’s role in funneling around $200 million to the project.
Saudis are still skeptical of OPEC cuts. The cartel deliberated for a second day to end a deadlock threatening to crash oil prices. Saudi Arabia—the de-facto leaders of OPEC—is trying to convince the Russians to join a significant crude output reduction.
Tariff costs mount for U.S. companies. Firms that import products are paying record amounts in customs duties as more levies imposed by the Trump administration take effect.

What's Trending

Tommaso Protti for The Wall Street Journal
Lynching is Latin America’s dark secret. The region has the world’s highest murder rate, and its highest rate of impunity. With little faith in the police or the courts to bring criminals to justice, mobs routinely kill suspected lawbreakers in spontaneous attacks. Many victims are innocent.
George H.W. Bush is laid to rest. His adopted home of Texas bade him farewell, remembering the 41st president as a decent public servant who led the nation through the end of the Cold War.
Afraid of the yield curve? You’re looking at the wrong one. When bond yields flatten to current levels before a recession, the S&P often posts gains over the next year, says our columnist.
The latest housing hotspot: downtown and by the river. Developers are building high-end homes in revitalized urban neighborhoods with waterfront views for residents drawn to quality of life and prime locations.
The sticky Wi-Fi problem. The best hotspots our phones can "see" are often a mirage, yielding dropped calls and frustrated users. And the incentives to fix the problem are misaligned, says our columnist.
50 gifts to please everyone on your list. See these winning holiday offerings to please both the minimalist who prefers understated presents or a maximalist who loves a lot of flash

Chart of the Day

Merchants press for faster payment. The retail giants are among the companies urging the Fed for a service to settle interbank transfers in real time, which could ultimately eliminate the lag between when consumers use debit cards and stores receive the funds.

News From Other Sources

Amazon targets airports for checkout-free store expansion. For months, the online retailer has been expanding Amazon Go, where customers scan their smartphones at a turnstile to enter and cameras identify what they take from the shelves. Now, Amazon is evaluating top U.S. airports for new locations.
via Reuters
U.S. senators are keen to punish the Saudi crown prince, but divided on tactics. Despite President Trump’s desire to maintain close ties to Saudi Arabia, several Republicans have joined Democrats in blaming Mohammed bin Salman for Jamal Khashoggi’s death. They have also backed legislation to end U.S. support for the Saudi-led war effort in Yemen, impose new sanctions and stop weapons sales.
via the Guardian
Volvo charges up electric trucks to get ahead of Tesla. In a few months’ time, the Swedish truck-making giant will deliver its first all-electric model. Success will put it on a firmer footing as big manufacturers race upstarts like Tesla to develop electric workhorses.
via Bloomberg

This Day in History

Dec. 7, 1987
Gorbachev Arrives in U.S. to meet Reagan
Soviet leader Mikhail Gorbachev set foot on U.S. soil for the first time, heading to Washington for a summit with President Ronald Reagan. Over three days, the two world leaders discussed regional conflicts throughout the world and arms-control issues for chemical weapons. They also signed the Treaty on Intermediate-range Nuclear Force which eliminated all nuclear and conventional missiles with ranges of 500 to 1,000 kilometers.
Recently, the U.S. has said it would withdraw from the INF treaty unless Russia takes steps to return to compliance. According to Secretary of State Mike Pompeo, Russia is in "flagrant violation" of the accord, citing cruise-missile tests as an example. Moscow has denied breaching the accord.
—Compiled and edited by Jennifer Hicks in New York and Katy Barnato in London
Source: WSJ 

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