Here is what you need to know.
1. Softbank is reportedly holding up a big chunk of its $9.5 billion bailout of WeWork — and it’s causing ‘lots of anxiety’. Worried investors bid down the price of WeWork’s junk bonds, driving their yield and spread to record highs.
2. The world’s biggest shipping company warns that the global trade slump is probably here to stay in 2020. Maersk is seen as a bellwether for global trade, given that it handles about 20% of all consumer goods shipped.
3. The launch of Apple TV+, coupled with Apple’s foray into digital services, could help the company increase its income from advertising by more than fivefold to $11 billion annually within the next six years. Analysts at JP Morgan said on Friday said the company had the potential to raise revenue by a third every year, from an estimated $2 billion currently to $11 billion in 2025.
4. Billionaire investment guru Ray Dalio warns of a looming ‘capital war’ between the US and China. “There is a trade war, there is a technology war, there is a geopolitical war, and there could be a capital war,” the billionaire said on Thursday.
5. Billionaires’ success boils down to a set of 3 personality traits that aren’t directly tied to intelligence, a new report says. Intelligence isn’t what makes billionaires successful, a new report by the investment bank UBS and PricewaterhouseCoopers found.
6. America’s biggest banks will soon have to add billions to their reserves, and they say they could cut lending in response. Starting in January 2020, big banks will have to record all expected future losses on their loans once they’re issued, thanks to a new accounting rule.
7. American Airlines flight staff have literally begged not to work on the Boeing 737 Max when it returns, union boss says. Lori Bassani heads the union for 28,000 American Airlines flight attendants, and warned of genuine fear among staff over returning to the 737 Max.
8. Stocks are nudging upwards on Friday. US futures underlying the S&P 500 (+0.2%) and the Nasdaq (+0.3%) are rising. In Europe, the DAX (+0.1%) is up as is the Euro Stoxx 50 (+0.1%). Asian stocks closed mixed, with the Nikkei (+0.7%) rising Shanghai Composite (-0.6%) falling and Hang Seng flat.
9. There are some interesting earnings out later. JCPenney is the highlight.
10. There’s a stack of data on the docket. Market watchers will be keeping an eye on retail sales and industrial production.
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Source:: Business Insider