Business

SpaceX Founder Elon Musk has requested permission from the U.S. government to launch thousands of satellites into space in order to beam high-speed Internet down to earth.  The tech billionaire is competing against the likes of Facebook, Google, and Microsoft to become the first person to bring cheap Internet connectivity to unconnected parts of the world via wireless devices, drones, high-altitude beams, and laser beams. Thehackernews.com reports: Private rocket launch service SpaceX has asked the U.S.

For the 12th consecutive day, China has weakened the official fix of the Yuan against the USD, slashing its currency by over 2.2% in that time - a move only beaten by the "one-off" devaluation in August 2015 that crashed global stock markets. With a 189pip 'devaluation' tonight, Yuan is now trading at its weakest since June 2008...

In December 2015, China weakened Yuan 10 days straight  leading into The Fed's rate-hike decision. The current 12-day weakening streak is an all-time record for the Yuan fix.

For months we've been told that the Clinton Foundation, and it's various subsidiaries, were simple, innocent "charitable" organizations, despite the mountain of WikiLeaks evidence to the contrary.  Well, if that is, in fact, true perhaps the Clintons could explain why wealthy foreign governments, like Norway, are suddenly slashing their contributions now that Hillary's political clout has been erased?

It was about a year ago when, in a note brimming with optimism, Goldman Sachs (which had just released its Top 6 trades for 2016, 5 of which would close out at a loss just two months later) predicted that the Fed would hike rates 3 times in 2016, a year in which the economy was expected to storm higher. It has yet to hike them once (although the market is 90%+ convinced this will happen next month) even as the economy has done virtually nothing, and some can argue contracted further for most of the world class leading to Donald Trump's "surprise" victory. 

For the past year, Deutsche Bank was one of the most stubbornly pessimistic banks. Then, overnight, everything changed for one reason: Donald Trump.

The German bank laid out its 180-degree change in opinion in a 30-page Friday note titled "Trump: the huge picture for stocks", in which it revealed that it now expects the S&P to easily rise to 2,250 by Trump's inauguration, and then rise to 2,500 by 2018 "before suffering its next bear market."

While not necessarily the "huge picture", here is the big picture summary of DB's note: