From TradeBriefs <[email protected]>
Subject Powell Signals Readiness to Defy Trump in Defense of Fed - Bloomberg - Nov 8, 2024
Date November 8, 2024 1:54 PM
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- The top 25 stories curated by editors and fellow readers!

From the Editor's Desk

Trump Says RFK Jr. Will Go Wild on Public Health. What Would That Look
Like? - The Cut

Federal public-health employees are already issuing resignations in
advance of a Trump administration, says one expert.

Continued here [[link removed]}&lead=419599&emailid=90535&nl=daily]

_TradeBriefs: Newsletters for Decision-Makers!_

Work

Powell Signals Readiness to Defy Trump in Defense of Fed - Bloomberg
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Fed chair says president has no power to fire or demote him

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Trump victory hands hedge funds $1.2bn win from bet against renewables
- FT [[link removed]}&lead=419599&emailid=90535&nl=daily]
Clean energy shares have tumbled on fears Republican president-elect
will scrap subsidies and tax breaks















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Trumps Win Sets Off Race to Complete Chips Act Subsidy Deals -
Bloomberg [[link removed]}&lead=419599&emailid=90535&nl=daily]
Companies seek to finalize agreements as quickly as possible

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Biotech and Donald Trump: A conversation about what comes next - STAT
[[link removed]}&lead=419599&emailid=90535&nl=daily]
This story was adapted from Adams Biotech Scorecard, a subscriber-only
newsletter. STAT+ subscribers can sign uphereto get it delivered to
their inbox.A slight format change this week. My STAT colleague and
dear friend Matthew Herper joins me to discuss President-elect Donald
Trumps victory and the impact on biotech and pharma.














Work

Boost Your Teams Productivity by Hiring Force Multipliers - Harvard
Business Review [[link removed]}&lead=419599&emailid=90535&nl=daily]
When interviewed by the Smithsonian Institution in 1993 about the
early days of his company, Microsoft co-founder Bill Gates didnt
stress the role of software engineering in the companys growth.
Instead, he talked about the decisive impact of a key HR decision:
hiring one of his old school friends a shy fellow called Steve
Ballmer.

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The Fed thinks inflation is vanquished - WSJ
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Federal Reserve Chairman Jerome Powell is sticking with his view that
inflation is all but vanquished. The interest-rate cut he delivered
Thursday marks a gamble that he wont need to raise rates early in the
next Trump Administration.














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4B, the protest movement that boycotts men, explained
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Our mission could not be more clear and more necessary: We have a duty
to explain what just happened, and why, and what it means for you. We
need clear-eyed journalism that helps you understand what really
matters. Reporting that brings clarity in increasingly chaotic times.
Reporting that is driven by truth, not by what people in power want
you to believe.

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What Donald Trump's Win Means For Immigration
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Per the plans he shared throughout his campaign, Trump intends to
commence mass deportations of millions of people, a project that could
be marked by widespread workplace raids and the involvement of the
U.S. military, all while putting federal resources into expanding the
border wall at the U.S.-Mexico border.














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Putin says hes ready to pick up if manly Trump calls him
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Russian President Vladimir Putin congratulated Donald Trump on his
U.S. election victory, praising the Republicans manly response to an
attempted assassination and saying hes ready to speak with him.

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South Korean President Yoon Suk Yeol's biggest problem isn't the North
[[link removed]}&lead=419599&emailid=90535&nl=daily]
North Korea's rhetoric was reaching fever pitch again. Unused roads
and rail links to the South had just been blown up in a spectacular
display of belligerence. The North had labeled the South "a hostile
state" and its leaders as "gangsters" and "scum."














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Tycoon drives Indias push against Chinas solar-energy dominance - WSJ
[[link removed]}&lead=419599&emailid=90535&nl=daily]
AHMEDABAD, IndiaGautam Adani,the billionaire founder of one of Indias
biggest business conglomerates, lies at the intersection of the
countrys clean energy challenge to China.

Work

Want to live a long and fulfilling life? Change how you think about
getting old - WSJ [[link removed]}&lead=419599&emailid=90535&nl=daily]
Nearly every Friday morning for the last three years, Ive exercised
side-by-side with Perry Chapman. At 70, Perry is over 15 years older
than me, but she puts me to shame. Perhaps this shouldnt be surprising
given that she takes several Pilates classes a week and has just
started weightlifting with a personal trainer.














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After decades, FDA finally moves to pull ineffective decongestant off
shelves
[[link removed]}&lead=419599&emailid=90535&nl=daily]
In a long-sought move, the Food and Drug Administration on Thursday
formally began the process of abandoning oral doses of a common
over-the-counter decongestant, which the agency concluded last year is
not effective at relieving stuffy noses.

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Imaging shapes of atomic nuclei in high-energy nuclear collisions
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Atomic nuclei are self-organized, many-body quantum systems bound by
strong nuclear forces within femtometre-scale space.














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Ambulance hits Oregon cyclist, rushes him to hospital, then sticks him
with $1,800 bill, lawsuit says
[[link removed]}&lead=419599&emailid=90535&nl=daily]
An Oregon cyclist who was struck by an ambulance that made a right
turn into him — fracturing his nose and leaving him with scrapes and
other injuries across his body — has filed a $997,000 lawsuit
against the ambulance provider after it scooped him up, drove him to
the hospital and then billed him for the service, according to the
suit.

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The egg or the chicken? An ancient unicellular says egg! - Medias -
UNIGE
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A cell division resembling that of an animal embryo has been observed
in a prehistoric unicellular organism, suggesting that embryonic
development might have existed prior to the evolution of animals.













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Five minutes of exercise a day could lower blood pressure
[[link removed]}&lead=419599&emailid=90535&nl=daily]
The study, published in Circulation, was carried out by experts from
the ProPASS (Prospective Physical Activity, Sitting and Sleep)
Consortium, an international academic collaboration led by the
University of Sydney and University College London (UCL). 

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The Decline of the Working Musician
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Before the gig economy consumed a third of the workforce, it was
mostly musicians who worried about gigs. There are debates about the
origins of the word—some believe it derives from an
eighteenth-century term for horse-drawn carriages that may have
doubled as stages for performers, while others contend that it was
adapted from a Baroque dance called the gigue. But the “gig,” as
shorthand for a casual, one-off paid performance, entered the popular
lexicon during the Jazz Age of the nineteen-twenties and thirties.
There was a mystique to the gigging musician wandering the big city in
search of work, because this work was creative, improvisational, at
times transcendent.

Work

Elwood Edwards, voice of AOLs iconic greeting Youve Got Mail, dies at
74 | CNN Business
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Elwood Edwards, a behind-the-scenes graphics and camera operator at
local Cleveland television station WKYC whose voice was propelled to
worldwide fame after he recorded AOL's email greeting, 'You've Got
Mail,' has died, according to his former employer. He was 74.

Work

US election live: Republicans edge closer to House majority as
speculation grows over Trump cabinet
[[link removed]}&lead=419599&emailid=90535&nl=daily]
The Federal Reserve has cut interest rates further, saying progress
has been made against the wave of inflation that struck the United
States during Joe Biden’s presidency, which was likely a major
factor in voters choosing Donald Trump as the next president

Work

Elon Musk might be Wall Streets great white whale - FT
[[link removed]}&lead=419599&emailid=90535&nl=daily]
The US election and elevation of the Tesla boss could lead to big deal
fees. The race is on to be his favourite consigliere

Work

Can Direct Democracy Save Abortion Rights? - The New Yorker
[[link removed]}&lead=419599&emailid=90535&nl=daily]
In the first Presidential race since the Supreme Court overturned Roe
v. Wade, the American electorate appeared to stake out two seemingly
irreconcilable positions. Voters gave a mandate to Donald Trump, who
appointed half of the conservative supermajority that abolished the
constitutional right to abortion in Dobbs v. Jackson Womens Health
Organization. Yet, at the same time, eight states showed majority
support for constitutional amendments that codified abortion rights,
including five states that went for or are leaning toward Trump. In
Missouri, where abortions are completely prohibited except for health
emergencies, Trump won easily, but so did an amendment enshrining
reproductive rights in the state constitution. Trump is poised to win
in Arizona, which has a fifteen-week ban, and where voters affirmed an
amendment protecting abortion rights until fetal viability. A similar
measure in Trumps home state of Florida, Amendment 4, won a slightly
larger majority than Trump himself didand yet the measure failed,
because it did not reach Floridas sixty-per-cent threshold for passing
constitutional amendments. The South Florida Sun Sentinel, reporting
on a ballot initiative that received fifty-seven per cent of the vote,
ran the headline Voters Reject Florida Abortion Rights Amendment.

Work

Parents Labeling a Kids Friend a Bad Influence Can Backfire -
Scientific American [[link removed]}&lead=419599&emailid=90535&nl=daily]
Parents have always blamed their teens misbehavior on their kids
friends: they may say their kids fell into bad company or got in with
the wrong crowd. To combat what they see as pernicious influences,
parents have responded with strategies that range from criticizing the
wayward companions to forbidding any contact altogether. This type of
response by parents has been documented from the Netherlands to China.

Work

Federal Authorities Are Investigating Racist Texts Sent To Many Black
Americans Across The Country - Forbes [[link removed]}&lead=419599&emailid=90535&nl=daily]
Federal authorities on Thursday said they are investigating a series
of racist text messages sent to Black men and womenincluding some
school studentsacross the country referencing slavery and asking them
to be prepared to pick cotton at the nearest plantation.

Work

New Interest Rate Cut Comes Amid Post-Election Economic Uncertainty -
Inc [[link removed]}&lead=419599&emailid=90535&nl=daily]
Federal Reserve officials are poised Thursday to reduce their key
interest rate for a second straight time, responding to a steady
slowdown of the inflation pressures that exasperated many Americans
and contributed to Donald Trumps presidential election victory.

Work

Judge Tosses Out Biden Program For Undocumented Spouses
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Generally, immigrants who have entered the United States illegally
must leave the country to complete the green card process, which can
take years. The Biden program, which was in place for a week, allowed
those who were married to U.S. citizens to remain in the country by
granting them what the immigration system refers to as “parole,” a
status that also protected them from deportation.

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Wave of Racist Texts After Election Prompts F.B.I.'s Scrutiny
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Mr. Trump stoked racism throughout his campaign in speeches that
included false accusations against immigrants and inflated crime
figures. He demeaned the intelligence of his opponent, a Black woman;
repeatedly amplified a lie that Haitian immigrants were eating
neighbors’ pets in Ohio and held a rally near the end of his
campaign at Madison Square Garden that was rife with bigotry and
misogyny.

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Trump's Strange Bedfellows: Arab Americans and Right-Leaning Jews
[[link removed]}&lead=419599&emailid=90535&nl=daily]
The two groups hold sharply divergent expectations for the
president-elect. And both strongly pro-Israel Trump voters and some of
Mr. Trump’s Arab American backers are skeptical that his ascent this
week is the start of a durable cross-ideological, interfaith
coalition.

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The Entertainer axes new shops after Budget tax rise
[[link removed]}&lead=419599&emailid=90535&nl=daily]
"When you look at the proposed cuts in corporation tax - even without
those cuts and indeed the new costs that have just come in in the UK
on National Insurance and labour laws - when you’re taking
investment decisions, the US is making a very compelling case for
investment and expansion," he said.

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Anthropic teams up with Palantir and AWS to sell AI to defense
customers | TechCrunch
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Anthropic on Thursday said it is teaming up with data analytics firm
Palantir and Amazon Web Services (AWS) to provide U.S. intelligence
and defense agencies access to Anthropic’s Claude family of AI
models.

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Nissan to lay off thousands of workers as sales drop
[[link removed]}&lead=419599&emailid=90535&nl=daily]
"Nissan, like many Japanese car makers, has been very slow to the
electrified vehicle party in China and this is reflected in their
results," said Mark Rainford, a China-based car industry commentator.

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Companies Brace for the Return of Trump's Old Trade Gripes
[[link removed]}&lead=419599&emailid=90535&nl=daily]
In 2017, Komatsu spent about $2.8 billion to acquire an American
company that made mining equipment. Since then, it has increased
investments in North America, adding thousands of workers to its
payroll and ramping up domestic production.

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Opinion | Democrats Walked Into a Trap Republicans Set for Them
[[link removed]}&lead=419599&emailid=90535&nl=daily]
They walked into the trap of defending the very institutions most
Americans distrust.

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The best E Ink tablets for 2024
[[link removed]}&lead=419599&emailid=90535&nl=daily]
We got to spend some time with TCL’s latest E Ink-like tablet at
CES, the NXTPAPER 14 Pro. Using the company’s NXTPAPER 3.0
technology, the device isn’t precisely an E Ink tablet but one that
attempts to strike a balance between the displays of ereaders and
standard slabs. It focuses on eye comfort by filtering out up to 61
percent of blue light, using a Circularly Polarized Light (CPL) screen
and the like. TCL has not revealed pricing for the NXTPAPER 14 Pro,
but it did confirm it would arrive in the US in early 2024.

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Brian Cox urges artists to 'keep flag of truth flying' after Trump win
[[link removed]}&lead=419599&emailid=90535&nl=daily]
"The world's in deep shit like never before. Trump's not going to do
anything about the climate crisis because he doesn't believe it, no
matter the evidence. Cox was also insistent that he would "never play
Trump". He said: "I couldn't play him for all the tea in China,
there's no virtue in him."

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People in Gaza are enduring 'almost unparalleled suffering', says aid
group
[[link removed]}&lead=419599&emailid=90535&nl=daily]
"Those in power on all sides act with impunity, while millions across
Gaza and the region pay a terrible price," he said. "Humanitarians can
speak out on what we are seeing, but only those in power can end this
nightmare."

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David Lammy plays down fears over Trump presidency and says UK must
seize 'opportunities' on offer ? politics live
[[link removed]}&lead=419599&emailid=90535&nl=daily]
I find it very helpful when readers point out mistakes, even minor
typos. No error is too small to correct. And I find your questions
very interesting too. I can't promise to reply to them all, but I will
try to reply to as many as I can, either BTL or sometimes in the blog.

Work

NHS-branded baby formula could prevent parents paying too much,
watchdog says
[[link removed]}&lead=419599&emailid=90535&nl=daily]
The regulator said it was concerned there was too little choice in the
market, with a very limited number of own-label products, and that few
parents were switching to cheaper options where available.

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Lammy dismisses past criticism calling Trump a 'sociopath' as 'old
news'
[[link removed]}&lead=419599&emailid=90535&nl=daily]
"And I was talking about, you know, what is the first truly Islamist
country that will get a nuclear weapon, and we were like, maybe it's
Iran, you know, maybe Pakistan already kind of counts, and then we
sort of finally decided maybe it's actually the UK, since Labour just
took over."

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Swing states: how Democratic vote stayed flat while Republican gains
won it for Trump
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Nationally, turnout is expected to be down slightly on the
record-breaking turnout recorded in 2020. But turnout in the swing
states of Georgia, Michigan, Wisconsin, Nevada and Arizona looks
likely to surpass that level – mainly caused by an increase in Trump
voters.

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'Exciting' new lupus treatment could end need for lifelong medication
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Dr Eleni Tholouli, the director of the adult stem cell transplant unit
at Manchester Royal Infirmary, said: "It is an incredibly exciting
time to now offer this mode of treatment to lupus patients through
this clinical trial."

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Project 2025 chief's book urges 'burning' of FBI, New York Times and
Boy Scouts
[[link removed]}&lead=419599&emailid=90535&nl=daily]
"Man's taming of fire is the cornerstone of human culture," Roberts
muses. "That's the funny thing about fire. It is so fleeting, a flame
flickering from moment to moment, yet in its evanescence, it is
eternal. Of all the elements, fire is most associated with
transformation, renewal, and change. You can't have a blaze without
some kind of sacrificial transformation of fuel into fire. Yet
precisely for this reason, fire demands an attention to continuity.
Unlike any of the other elements, fire dies ⦠a fire must be
continually tended."

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Election deniers use Trump victory to sow more doubt over 2020 result
[[link removed]}&lead=419599&emailid=90535&nl=daily]
“This election denial grift has made a lot of people a lot of money,
and so there are people who have a financial incentive to continue
this grift, and so I wouldn’t be surprised if that’s some of what
is happening here also,” he said.

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Can the Democrats salvage the House of Representatives? ? podcast
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Donald Trump has won the presidency more comprehensively than
expected. Republicans have flipped the Senate. However, the Democrats
are still holding out hope that they can take control of the House of
Representatives and prevent the president-elect from having
legislative carte blanche.

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S&P 500 futures hold above 6,000 milestone as stocks ride higher after
Trump's win
[[link removed]}&lead=419599&emailid=90535&nl=daily]
They will also closely monitor the University of Michigan's
preliminary consumer sentiment survey data for November, which is due
later in the day, and Federal Reserve Board Governor Michelle Bowman's
speech.

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Stock market today: Stocks extend post-election rally as the Fed cuts
interest rates
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Powell said the election outcome will have "no effect" on the Fed's
policy in the near future and reiterated that the Fed does not
speculate on any administration's potential impact on the economy.

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The stock market is entering 'Crazy Town' as valuations reach
generational high, Stifel says
[[link removed]}&lead=419599&emailid=90535&nl=daily]
Ultimately, Bannister believes that current stock market sentiment is
nearing the point that typically marks the end of a bull expansion.
Quoting the famed British investor Sir John Templeton, he added:

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Analysis-Is Goldilocks gone? Emerging markets face uncertain path
under Trump
[[link removed]}&lead=419599&emailid=90535&nl=daily]
But overall, investors say the fear, market gyrations and risk
aversion that followed Trump's 2016 win were less likely this time
round - meaning developing countries and assets inside them with a
good narrative can continue to attract capital.

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Chinese Yuan Slides, Stock Futures Whipsaw After Debt Swap Plan
[[link removed]}&lead=419599&emailid=90535&nl=daily]
“It appears that the authorities are kicking the can to December
policy meetings,” said Homin Lee, senior macro strategist at Lombard
Odier. “Finance Minister Lan is clearly keeping the door open for
bank recapitalization and other central government-level stimulus
measures.”

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Icahn plans raising stake in oil refiner CVR, WSJ reports
[[link removed]}&lead=419599&emailid=90535&nl=daily]
To fund this and other transactions, Icahn said he is cutting his
firm's dividend payout for the second time since short-seller
Hindenburg Research began shorting IEP's bonds last year, the report
added.

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