wiar 11-10-17

Mary FanslauWhat I Am Reading

Nov 10 (Friday)

Markets
Stocks Drop on Concerns Over GOP Tax Overhaul (W)
High-Yield Funds Go Bananas as Junk-Bond Rout Worsens (B)

Central banks
In an Effort to Cut Costs, Some Banks Are Ditching the Fed (W)
Gradual rate hikes in the US are the best option, says Fed’s Mester (C)

US
Why Is U.S. Wage Growth So Low? It’s All About the Top 80% (B)
The Link Between Productivity and Pay Is Very Much Alive, Summers Paper Finds (W)

Japan
Japan’s Biggest Banks Confront Harsh Reality With Cost Overhaul (B)

China
China’s New Effort to Tame Its Financial System May Disappoint (N)
Goldman Sachs CEO: China’s economy will surpass the US, and by one measure it already has (C)

US politics
Senate Tax Plan Has Delayed Corporate Cut, More Brackets (W)
Everything You Need to Know About the Senate GOP Tax Proposal (B)
Senate Republicans Will Diverge From House in Sweeping Tax Rewrite (N)
Blame Game Over Rising Health-Insurance Premiums Begins (W)
Gary Cohn: A year ago, I was advising companies to move out of the US (C)
[House] GOP tax cut plan would add $1.7 trillion to the deficit, CBO projects (C)

Geopolitics
Why Relying on China to Stop North Korea May Not Work (N)
In China, Trump Employs Tough Talk, Flattery With Xi (W)
The $250 Billion in U.S.-China Trade Deals May Not Tally (W)
Russia Says It Will Retaliate Against U.S. Media Next Week (B)
Pacific Rim countries move closer to TPP without US (FT)

Industries & companies
FANGs: Amazon Puts Whole Foods, Delivery Units Under Bezos Lieutenant (W)
Media: Disney Profit Disappoints With Cable TV Woes, Hurricanes Taking a Toll (B)
Retail: Department Stores’ Mixed Results Signal Competitive Holiday Season (W)

Cybersecurity
Equifax CEO to Congress: Not Sure We Are Encrypting Data (W)

Corporate finance
AT&T CEO: We Are Prepared to Litigate to Defend Time Warner Deal (W)
Snap’s Rise and Fall: How a Big, Splashy IPO Prompted the Doubters to Keep Mum (W)
Tencent Continues to Snap Up Stakes in U.S. Startups (W)

Technology
Artificial Intelligence Fuels Chip-Making Arms Race (W)

Cryptocurrency
SEC Chief Fires Warning Shot Against Coin Offerings (W)

Offbeat
Billionaire Ray Dalio: For the ‘bottom 60 percent’ of the country, it’s a ‘miserable economy’ (C)