Hello! Here’s what you need to know on Wednesday.
1. Trump is expected to name a former Goldman Sachs banker as US Treasury Secretary. Steven Mnuchin, who served as the national finance chair on Trump’s presidential campaign, was CIO at The Goldman Sachs Group before leaving the firm in 2002.
2. 12 people, including 11 teenagers, have been killed after a fire swept through a girls’ dormitory in Turkey. More than 20 others were injured. The cause of the fire is unknown.
3. OPEC, will announce its proposed production cuts in a matter of hours. Despite that markets have been left guessing what the result will be with the chances of a cut still looking like a coin toss.
4. It’s going from bad to worse for Chinese commodity futures. Contracts, including rebar, iron ore and coking coal, all tanked in Asian trade with the only thing preventing them from falling further is that they’re not allowed to under market rules.
5. The US-led coalition fighting ISIS made mistakes in the lead-up to accidental airstrikes on 80 Syrian soldiers. Despite the findings, an investigation has found that it acted in compliance with the rules of engagement and the laws of armed conflict.
6. Confidence among British consumers fell in November to its lowest level since the Brexit referendum. It slipped to -8 in November from -3 in October, pointing to continuing uncertainty about the state of the economy.
7. ISIS has claimed credit for the Ohio State University attack which hospitalised 11 people with injuries. According to Amaq, ISIS’ unofficial news agency, 18-year-old Abdul Razak Ali Artan was a “soldier” of the Islamic State.
8. An employee of the German intelligence agency has been arrested accused of making Islamist statements on the Internet using a false name and of revealing internal agency material in Internet chatrooms.
9. China’s about to open its tech-heavy stock market to the world. The Shenzhen-Hong connect will go live on December 5, giving international investors access into China’s the “wild card” exchange.
10. Amazon Web Services has launched its Financial Services Competency. Now any fintech startup that uses the Amazon cloud can hold up a certificate to say it’s as good as a big consultancy.
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