Good morning! Here’s what you need to know in markets on Thursday.
1. Asian stocks rose on Thursday, cheered by a bounce in Chinese equities on signs China and the United States may be taking steps to de-escalate their bitter trade dispute, while oil prices resumed their retreat on fears of oversupply. A cautious start is expected in Europe, however.
2. French finance minister Bruno Le Maire said on Thursday that British Prime Minister Theresa May’s Brexit deal was “good news”, adding that it was in everyone’s interest that the Brexit process proceeded smoothly. Not everyone was as optimistic. May on Monday night published the full text of her 585-page Brexit deal. Read it here in full.
3. Facebook cannot be trusted to regulate itself and Congress should take action, Democratic U.S. Representative David Cicilline, expected to become the next chairman of House Judiciary Committee’s antitrust panel, said on Wednesday. The comment comes after an exhaustive report from The New York Times, which details how Facebook executives attempted to deflect criticism as the company’s scandals mounted over the last few year.
4. Switzerland’s competition watchdog WEKO said it had searched offices of Swiss financial companies including Credit Suisse and UBS as it probes a suspected boycott of mobile payment solutions such as Apple Pay and Samsung Pay.
5. The first group of caravan migrants has arrived at the US border. And the US responded with lane closures, wire, and barriers at the border.
6. President Donald Trump endorsed a bipartisan US House bill on Wednesday intended to reform the federal prison system and help inmates prepare for life after release, but the legislation faces an uncertain future in the Senate.
7. Trump has tapped a fourth member of his exclusive Mar-a-Lago resort for a US ambassadorial post. This time its Lana Marks, the high-dollar handbag-maker, who will be ditching fashion for diplomacy in South Africa.
8. Nike is opening a 68,000-square-foot flagship store-of-the-future in New York City. The giant futuristic flagship in New York will span six floors and 68,000 square feet. Its name? “Nike House of Innovation 000.”
9. It looks like Boeing could be in big trouble over its 737 Max 8. Pilots allege that Boeing failed to warn them about a safety feature that could cause the plane to dive, just like the Lion Air flight did before it crashed in waters off Java nearly two weeks ago.
10. Really rich people are moving out of Britain. Here is where they are heading.