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British Pound falls on UK woes

Just after Defense Secretary Michael Fallon resigned in light of revelations of sexual misconduct, PM Theresa May could be forced to dismiss her International Development Secretary, Priti Patel, following the minister’s holding a series of unauthorized meetings with Israeli Officials behind the PM’s back. This would mean the loss of two cabinet ministers within a week while Foreign Secretary, Boris Johnson, is also in hot water after he made remarks jeopardizing efforts to free an Iranian British mother currently jailed in Iran and is now being called upon to resign. All this in the midst of stalled Brexit negotiations. The headaches the PM faces demonstrate her weakness and raise the question of just how stable her Government is and if it can last long enough to successfully finish the Brexit negotiations. A valid fear if the PM is not able to get a grip on the latest crisis could be for the PM to be toppled by her own Conservative party members feeling that the Government is incapable of recovering the authority a Prime Minister needs. The destabilizing effect on an already weak administration has prompted another burst of speculation that May could soon be forced to resign and has prompted a further sell-off of the Pound.

Get ready for Flying Taxis as Uber partners with NASA

Uber, the taxi service, has partnered with NASA to develop traffic systems for its flying car project , stepping up efforts to bring this project to reality, with testing planned for 2020. Uber wants to make vertical take-off and landing vehicles that will allow their flying cars to take off and land vertically and will fly at a low altitude. NASA' wants to figure out how unmanned aerial systems (UAS), such as drones that fly at a low altitude, can operate safely. The new service will be called UberAir. The sheer volume of daily flights will be more than ever done before and doing this safely and efficiently is going to require a foundational change in airspace management technologies," Jeff Holden, chief product officer at Uber, said in a statement on Wednesday. "Combining Uber's software engineering expertise with NASA's decades of airspace experience to tackle this is a crucial step forward”. Uber plans to test the project in Los Angele, Dallas-Fort Worth and Dubai in 2020 and aims to get the flying taxi service up and flying before the 2028 Olympics in LA. The expected price of the trip would be competitive with the same journey using an UberX.



November 11th, Singles Day, is estimated to generate a record $24 Billion in sales

This online shopping day dwarfs Black Friday and even Cyber Monday in sales turnover. In preparation, Alibaba is preparing a grand retail experiment for this day by targeting Mom and Pop retails stores, connecting them to the internet. About 600,000 physical outlets, 10% of China’s convenience stores, have been enlisted by Alibaba to sell goods and get billions of parcels shipped to customers nationwide. The idea is to connect virtual and offline worlds, bringing more customers onto its network to advance online orders while compiling valuable purchasing data. In the run up to the event, convenience store owners began using a mobile app called Ling Shou Tong, translated as "connect retail." The stores use it to purchase goods, helped by recommendations on what sorts of products have proven popular. Products are then shipped from dedicated Alibaba warehouses, removing the middlemen they would otherwise have dealt with. In theory, that improves their profit. Alibaba offers the system for free, using the store fronts as delivery and fulfillment centers and in return gathers data on what people are buying, promoting sales of brands it carries online. The company is also converting 100,000 retail outlets into so-called smart stores in a program that has drawn 1,000 labels, from Levis to L’Oreal. If one outlet runs short on certain inventory, customers can track availability at other locations. They can also get goods delivered to their home. Should the experiment succeed, this will put Alibaba ahead of Amazon as they led the way buying into Grocery stores.

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Market Events 09.11.2017

EU: Trade balance (Jan)
USA: The number of drilling rigs from Baker Hughes








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