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October 31, 2018

Oct 31: 60 Second Business News

Need to Know

1. GE misses on Q3 earnings. Facebook beats on earnings, but failed to meet revenue expectations.

2. China reports weak manufacturing growth for the second straight month in October as trade issues build.

3. People are trying to discredit Mueller by allegedly paying a woman to make false sex harassment claims against the prosecutor. The matter has been referred to the FBI.

4. Conservatives battle it out over birthright citizenship, with Donald Trump and Lindsey Graham looking to re-write the rules while opposition builds from Paul Ryan, George Conway (Kellyanne Conway's husband) and Michael Wildes (Melania Trump's immigration lawyer). The problem: birthright citizenship is written into the 14th amendment of the US constitution. So this issue will test a President's ability to re-write the constitution using Executive Orders.

5. Brazil's newly elected right-wing president, Jair Bolsonaro, plans to merge Brazil's agricultural and environmental ministries. This will open the Amazon rainforest - the planet's lungs - to more clear-cutting to make room for farming. Scientists around the world are worried.

Nice to Know

- The Rise of Dumb Devices
- The Elephant as a Person
How Garry Winogrand Transformed Street Photography

Key Economic Releases: Nov 1

- Initial / Continuing Jobless Claims
- ISM Manufacturing PMI
- Total Vehicle Sales

Quote of the Day

"The dog that trots about finds the bone." -- Golda Meir

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