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Trump Picks Iowa Governor Branstad As US Ambassador To China, Beijing Calls Him "Old Friend"

Trump Picks Iowa Governor Branstad As US Ambassador To China, Beijing Calls Him "Old Friend"

As reported in Frontrunning, President-elect Donald Trump will nominate Iowa Governor Terry Branstad as the next U.S. ambassador to China, choosing a longstanding friend of Beijing after rattling the world's second-largest economy by speaking to Taiwan's president. Earlier in Beijing, Foreign Ministry spokesman Lu Kang called Branstad an "old friend" of China when asked about a report on the appointment, although he added Beijing would work with any U.S. ambassador.

Crude Tumbles Below $50 After Biggest Cushing Build Since Jan 2009

Crude Tumbles Below $50 After Biggest Cushing Build Since Jan 2009

Crude prices are lower this morning following API's huge reported build at Cushing (biggest since 2008) and fears over OPEC deal realities. With expectations for a crude draw (on lower imports), DOE confirmed a bigger than expected overall draw but also Cushing saw a 3.78mm barrel build - the biggest since Jan 2009. Both Distillates and Gasoline (most since Jan) also saw bigger than expected builds as US production dropped very modestly.

API

Saxo Bank's 10 Outrageous Predictions For 2017: Brexit Never Happens, Bitcoin Surges, Fed Folds

Continuing in the tradition of making a selection of calls aimed at provoking conversation on what might surprise or shock the investment returns in the year ahead this year's predictions cover a range of scenarios, including a Chinese growth rebound, an Italian bank rally, Brexit giving way to Bremain and the EU's willingness to change in the face of populist backlash, among others.

Another Trump Win: Apple Supplier Foxconn Says It Is In Discussions To Expand US Operations

Another Trump Win: Apple Supplier Foxconn Says It Is In Discussions To Expand US Operations

There is over a month left until Trump's inauguration, and the President-elect's hard-hitting negotiating style may have scored yet another economic victory: according to a statement issued by Foxconn, the world's largest contract electronics manufacturer and a major Apple Inc supplier, the company said it was in preliminary discussions to expand its operations in the United States.

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