Here is what you need to know.
1. Boris Johnson’s government admits it has no plans to carry out an economic assessment of his Brexit deal. The UK Brexit department said there is no “date for an ‘economic impact assessment’ to take place.”
2. SoftBank is reportedly close to taking over a fancy London members’ club that WeWork also wanted to rent. Its interest in Number Twenty, which KPMG rents for £4.1 million ($5.3 million) a year, suggests their recent troubles haven’t tempered their desire for prime real estate.
3. One week in, Netflix’s stock is weathering Disney+. Wall Street’s reaction so far to Walt Disney long-awaited streaming service suggests investors believe the competition may not be as crushing as expected for entertainment rival Netflix.
4. WeWork layoffs began on Monday, sources say, with one person calling it a ‘small mercy’. The first people to be cut will be spared having to work long hours executing layoffs, only to face job cuts themselves, a source says.
5. VCs poured $761 million into wealth-tech startups like Robinhood and Goldman-backed Raisin in the third quarter. Here are the five biggest deals.
6. These four Goldman Sachs charts show how hard Trump’s trade war is hitting the US and China. Goldman found that China was worse off, but only marginally.
7. US fried chicken chain Popeyes wants to become the top chicken brand in China, knocking off KFC. The company plans to build the 1,500 stories, after signing a lease in Shanghai for its first store in China on Monday, which is slated to open next year.
8. Stocks are climbing Tuesday. US futures underlying the Dow (+0.2%), S&P 500 (+0.3%) and the Nasdaq (+0.4%) are rising. In Europe, the DAX (+1.0%) is rallying as is the Euro Stoxx 50 (+0.5%). In Asia, stocks closed mixed with the Nikkei (-0.5%) falling but the Shanghai Composite (+0.9%)and Hang Seng (+1.6%) rose.
9. Today is a quieter day for earnings. La-Z-Boy and Home Depot are the standouts.
10. Today is a big day for housing data. Information on housing starts and building permits will be released through the day.
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Source:: Business Insider