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Trump Picks Chief Of Staff
Donald Trump has selected the Chairman of the Republican National Committee Reince Priebus as his Chief of Staff.
Editor’s Remarks: For Donald Trump to fulfil his goal of uniting America, he must first unite his party. After a campaign which saw many Republican party members voice their displeasure and rescind their support, Trump is looking to rebuild bridges starting with selecting Priebus. Priebus is a party favourite and a friend of Paul Ryan, the House of Representatives Speaker. Trump clearly wants to strengthen ties with Congress and avoid the troubles Obama had when trying to pass any measurable changes.
What to watch: Donald Trump, Reince Priebus, Paul Ryan, Stephen Bannon, Republican National Committee
Pro-Russian Boost In Eastern Europe
Bulgaria has elected Rumen Radev as its newest president, and the early front-runner of Moldova’s president election is Igor Dodon, both with a pro-Russian stance.
Editor’s Remarks: Bulgaria has elected a newcomer to politics in Rumen Radev, who is a socialist. Bulgarians are joining the world in voicing their disappointment with the EU and the establishment. Radev won almost 60% of the vote. On the other hand, Igor Dodon won over 55% of the votes in Moldova. He also has a pro-Russian sentiment and is promising to stop integration into the EU. The anti-establishment and anti-EU sentiment is only spreading.
What to watch: Russia-Eastern European Relations, Rumen Radev, Igor Dodon, Vladimir Putin
Singles’ Day Sales A Success
Alibaba reported that its Singles’ day event in China sold a record $17.7bn in goods.
Editor’s Remarks: Over the course of one day, Alibaba set a record for the amount of goods sold. Along with having a festival of music, brands and celebrities, Alibaba saw an increase in sales of 32% year on year. Many say this is a disappointment after a previous increase of over 60% last year. However, with the Chinese economy not seeing the same growth as in past years and Trump voicing anti-Chinese sentiment, the number does not seem so weak. What is truly impressive is that over 80% of the sales were on mobile. It is unclear whether Alibaba’s new AI sales techniques have worked so far.
What to watch: Alibaba, Amazon, e-Bay, Facebook, Double-eleven, JD.com
Volkswagen Admits Audi Failure
Volkswagen has admitted that automatic Audi vehicles have software that distorts emissions results.
Editor’s Remarks: While Volkswagen has been paying off numerous bills and fines over the past few months over its vehicles giving false results during tests, its luxury brand Audi has come under investigation. Now, Volkswagen looks set to lose even more money and maybe its new CEO after confirming that Audi has software which can distort the results. The software is supposedly designed to allow improved performance for the Audi vehicle. Volkswagen has just made its life worse and should start 2017 with more bad news.
What to watch: Volkswagen, Audi, GM, Mercedes, Toyota
India’s Decision Rakes In Billions
Indians deposited 3 trillion rupees or $44.4bn in 500 and 1000 rupee notes since Modi announced the notes would be demonetised.
Editor’s Remarks: It seems Indians are firm believers in the “under the mattress” saving method, as trillions of rupees have surfaced in just a few days. The limits on ATM withdrawals and bank withdrawals have been raised to maintain cash availability. However, the flow of money will allow the government to have a much better idea on the economy. It will be interesting to see how much of the money is counterfeit and how much it will impact the underground markets. Many governments around the world will be watching to see if this is a success and possibly implement similar tactics themselves, from the EU to South East Asia.
What to watch: USD/INR, GBP/INR, EUR/INR