Caracal Business Insider | December 4, 2017

Oligarch, Censorship, Cryptocurrency, Cannabis, CVS

Caracal Business Insider | Daily
December 4, 2017
Curation and commentary from Marc A. Ross

Caracal Business Insider: Your one-stop shop for Global Business News at the Intersection of Politics + Policy + Profits.

Reporting from New York, New York

GEOECONOMICS

Russia's long cyber game: The digital attack that brought Estonia to a standstill 10 years ago was the first shot in a cyberwar that has been raging between Moscow and the west ever since. https://goo.gl/xV2Xjn

Who’s an oligarch? Rich Russians fret over US sanctions label https://goo.gl/KUZc5i

China defends state control over the internet at technology forum: FT reports, the man who has helped shape President Xi Jinping’s policies has told the World Internet Conference — whose audience this past weekend included Tim Cook of Apple and Sundar Pichai of Google — that China had a right to regulate its own internet.

Apple, Google CEOs bring star power as China promotes censorship: Bloomberg reports, Apple Inc.’s Tim Cook and Google’s Sundar Pichai made their first appearances at China’s World Internet Conference, bringing star power to a gathering the Chinese government uses to promote its strategy of tight controls online. Apple’s chief executive officer gave a surprise keynote at the opening ceremony on Sunday, calling for future internet and AI technologies to be infused with privacy, security and humanity. The same day, one of China’s most-senior officials called for more aggressive government involvement online to combat terrorism and criminals. Wang Huning, one of seven men on China’s top decision-making body, even called for a global response team to go well beyond its borders.

China limits waste imports: NYT reports, an intense crackdown by Chinese regulators on imported foreign waste destined to be recycled has had an impact on businesses and municipalities around the world.

Maybe China can't take over the world
Bloomberg - Christopher Balding OpEd

"Some of its greatest advances depend heavily on local conditions."

In South Korea, the virtual currency boom hits home: NYT reports, around the world, ordinary people, with no prior experience in virtual currencies, have been lured into the virtual currency markets in recent weeks by the soaring prices of Bitcoin and its competitors.

Venezuela to create a cryptocurrency amid bolivar's free fall: Bloomberg reports, on his Sunday television show, Maduro announced the nation would create its own “petrocurrency,” backed by reserves in oil, gas, gold and diamonds. It will enable Venezuela “to advance in monetary sovereignty, carry out its financial transactions to overcome the financial blockade,” Maduro said.

"The 21st century has arrived!"

Trudeau in China: Trade will be high on the agenda this week as Canadian Prime Minister Justin Trudeau visits China in a bid to boost business ties with the world's second-largest economy. 

Canada could make billions from legal pot: CNN Money reports, Canada's Cannabis Act was introduced in the Canadian Senate Tuesday, its last legislative stop. The bill enjoys wide public support and the backing of Prime Minister Justin Trudeau. According to recent estimates from Marijuana Business Daily, an industry publication, annual sales for Canada's recreational marijuana market could range between $2.3 billion and $4.5 billion by 2021.

"Canada faces one last hurdle to becoming the first G7 nation to legalize recreational marijuana."

Theresa May fails to strike Brexit border deal with Irish government: Guardian reports, the lack of agreement threatens to put back progression of Brexit negotiations to the second phase, ahead of crunch meeting between PM and Jean-Claude Juncker

Second referendum: Bloomberg reports, fifty percent of UK voters think there should be a second referendum on the final Brexit deal, a poll by Survation for the Mail on Sunday showed.

Copy-paste trade deals: The UK government wants to copy about 40 trade accords and turn them into bilateral agreements so international commerce won’t be disrupted after the split.

AMERICAN POLITICS

Passage of Senate tax bill puts R&D tax credit in doubt: WSJ reports, an unintended consequence of late decision to keep the corporate alternative minimum tax could be the loss of some tax breaks; companies push back.

Trump emboldened: Buoyed by Senate passage of his tax overhaul proposal, Trump told donors in New York on Saturday that he'll be “unbeatable” in 2020. 

GOP pushes to avoid a government shutdown, but the path is tricky: NYT reports, a two-week stopgap measure would provide more time to negotiate, but obstacles loom on both sides of the aisle as lawmakers push their own priorities.

NYT: Alabama's disdain for Democrats looms over its Senate race

Yes, Donald Trump, you said that
NYT - Billy Bush OpEd

"Of course he said it"

Suspended: ABC News has suspended investigative journalist Brian Ross for a month because of an error in his reporting about Trump.

Driverless car bill hits Senate speed bump: The Hill reports, the measure was set up under a fast-track process with the hopes of getting it over the finish line this year, but multiple senators are blocking the legislation from moving forward.

Politico Playbook power list: 18 to watch in 2018 https://goo.gl/G5MzPS

ENTERPRISE

CVS Health Corp. is going to buy health insurer Aetna Inc. for about $67.5 billion.

Facebook has opened its new London office, stating it would add 800 more jobs in the UK capital next year.

GooBook: WPP's GroupM expects Google and Facebook to account for 84% of global digital investment in 2017.

Australia to probe Facebook, Google over media disruption: Reuters reports, Australia’s competition regulator said on Monday it would investigate whether U.S. online giants Facebook and Alphabet Inc’s Google had disrupted the news media to the detriment of publishers and consumers.

Walt Disney Co. has "reengaged" in talks with 21st Century Fox about buying some of its assets.

WSJ: Bitcoin is the world’s hottest currency, but no one’s using it

$100 trillion will happen: The total value of companies listed on the world's stock markets as of Friday's close was $98,750,067,000,000 -- within touching distance of $100 trillion for the first time.

TRENDS

Why a Gen-X CEO hired a Millennial to help him keep a learning mindset https://goo.gl/jvvdnn

Legal marijuana: According to investment firm Cowen & Co., the legal US cannabis market is expected to reach $50 billion in annual sales by 2026.

CULTURE

Call Me by Your Name has been chosen as best picture by the Los Angeles Film Critics Association.