Trump's Commerce Secretary pick, Wilbur Ross, has informed Canadian officials that he plans to reopen NAFTA talks within days of his inauguration, and that rules of origin and independent dispute tribunals will be central in negotiations of North American Free Trade Agreement. Ross has indicated new administration will send a formal letter notifying Canada and Mexico of plans to renegotiate Nafta within days of Trump’s inauguration.
Target now expects fourth quarter comparable sales in the range of (1.5) percent to (1.0) percent, compared with prior guidance of (1.0) percent to 1.0 percent. In fourth quarter 2016, Target expects both GAAP EPS from continuing operations and Adjusted EPS of $1.45 to $1.55, compared with prior guidance of $1.55 to $1.75.
“As far as other people not going, that’s OK, because we need seats so badly,” Trump said during a Fox News interview scheduled to air Wednesday. “No, what happens to their tickets? I hope they’re gonna give us their tickets. I hope they give me their tickets.”
Deutsche Bank employees are facing more bad news, following reported from the Post and Bloomberg that the largest German lender will tell senior employees as soon as this week that they probably won’t get a bonus for 2016 because of the lender’s performance last year. The post adds that Deutsche may hold back on giving out bonuses to as many as 90% of bankers and traders.
European shares decline led by a plunge in Pearson shares, S&P futures were modestly in the green as Asian and EM stocks gained. The dollar rebounded against most major currencies after retreating 1.3% on Tuesday to the lowest in a month following Trump's "strong dollar" comments and halted a seven-day drop against the yen. "Everything is just a partial reversal of the price action yesterday," RBC Capital Markets currency strategist Adam Cole said.
British education group, and the world's largest education company, Pearson PLC lost a quarter of its market cap in an instant this morning after it issued a dire warning about the state of the textbook business, cut profit forecast, and warned of an "unprecedented" decline in its North American business.
Following urges by Edward Snowden and Julian Assange (who offered his own extradition), President Obama has commuted the remaining prison sentence of Chelsea Manning, the army intelligence analyst convicted of an enormous 2010 document leak.
As has always been the case, it is necessary to create wealth before it is possible to redistribute it, and policies that encourage movement toward less productive types of work will fail to produce the wealth that government planners would like to spread around.
If the goal is to put an end to the illicit drug trade, the federal government is embracing the very opposite of what they ought to, allowing their attempts to restrict drugs to empower black market entities taking advantage of anti-drug laws. Increasing the budget of law enforcement agencies and adding to the ever-growing burden on the U.S. taxpayer is not going to do anything to fix it.
How do you know with certainty that Davos has not only jumped the shark, but is now an outright parody of what itself? One answer: when you have a handful of semi, and non-semi billionaires, confused by the populist backlash of the past year, sit down and discuss among each other how a "Squeezed and Angry" middle-class should be fixed.
History books remember Herbert Hoover as one of the worst American presidents. Hoover inherited a stock market bubble near its peak - fueled by the Fed’s easy money policies. Trump has, too. And he knows it. Trump is the perfect scapegoat. If new shantytowns sprout up, they won’t be Hoovervilles - they’ll be “Trump Towers.” All this is why what happens after Trump’s inauguration could change everything... in sudden, unexpected ways.
"The Flanker is rumoured to have been flying from Groom Lake for nearly 20 years, but no-one has ever managed a definitive photograph to prove it does exist. This sequence of photos is the first proof that the Americans are flying this aircraft, which is the premier Air Defence Fighter in use with the Russian and Chinese Air Forces."
The recent blow-up of the Dallas Police and Fire Pension System was entirely predictable. The combination of overpriced financial markets, inadequate contributions and overly generous pension promises mean dozens of US local and state government pension plans will end up in the same situation.
Should violence occur on inauguration day, a story which will quickly spread will be one of a divided America, an inauguration with a violent and extreme reaction to a “divider president”, Donald Trump. But it is not Donald Trump who has been sitting in the seat of power over the past eight years using veiled encouraging statements like this to his SJW audience; that one falls squarely into the lap of the sitting president.
For years, post-financial crisis policy was conducted on the self-serving belief that it works best by propping up asset (especially equity) prices, which will then cause some of the goodies to trickle down... known in the non-official journals as “cure through greater inequality." But, if global politics turn decidedly ugly, it should not be profound to believe that could act as a drag on world growth...
The election of Trump did not mark the end for the Deep State, but just the beginning of the end. Just as Paine’s Common Sense denoted the beginning of a long string of bloody trials and tribulations, Trump’s ascendency has marked the beginning of a battle – with the outcome dependent upon our response to the clashes ahead. It's unclear if Trump supporters realize how abnormal, deviant, and despicable their opponents are. Blood will be spilled. Violence will beget violence. The country is already split and the divide will only grow wider. Someone will win and someone will lose. Our choices will matter.
With Trump on the horizon, the survivalist movement — long a pastime of the right — is picking up progressive converts fast..."With the new administration I worry about Nazi-style camps that would include my wife, our twins and myself."
"The Department of Justice should not pursue any charges against Mr. Assange based on his publication of truthful information and should close its criminal investigation of him immediately... Assange is confident of winning any fair trial in the US. Obama's DoJ prevented public interest defense & fair jury."