Thursday, October 17

ByKevin Sheekey

Brexit Breakthrough: EU and U.K. Reach Agreement on Brexit But Ireland’s Democratic Unionist Party Still Says No (Bloomberg)

Without the DUP’s support, the parliamentary arithmetic gets a lot tighter for Boris Johnson, who needs the backing of the House of Commons in a vote expected Saturday in order to deliver an orderly Brexit on October 31.

Johnson needs to pick up roughly 61 votes from a pool of about 75 deputies who might be persuaded to join him — that will involve persuading hold-outs in his own party to side with him rather than the DUP. It’s the final, treacherous hurdle for the U.K. leader to clear before he can complete his ambition of leading Britain out of the EU.

What’s in the Deal? Key Points of the Brexit Political Declaration (Bloomberg)

Today in Washington.

Nancy Pelosi Calls ‘Meltdown’ on Trump’s 1,000th Day in Office (Axios AM – Mike Allen)

There have been many holy-crap-that-did-not-just-happen days in the Trump White House. But few top the soap opera of Oct. 16, 2019 — exactly Day 1,000 of the Trump presidency.

A GOP official in California told Axios: “The needle on the Batsh*t Crazy Meter may have gone past the red zone today.”

During a meeting with the congressional leadership in the White House Cabinet room, according to a senior Democratic aide who provided a readout, Trump said that Jim Mattis, a four-star Marine general and Trump’s first defense secretary, was “the world’s most overrated general. … You know why? He wasn’t tough enough. I captured ISIS. Mattis said it would take two years. I captured them in one month.”

Pelosi told reporters in the White House driveway afterward: “What we witnessed on the part of the president was a meltdown — sad to say.”

Also: Nancy Pelosi says When It Comes to Trump, ‘All Roads Seem to Lead to Putin’ (Associated Press)

In Memoriam: Powerful Democratic Congressman Elijah Cummings Dies at 68 (Bloomberg)

“Elijah Cummings was a devoted champion of Baltimore and a strong voice on many important issues, including civil rights, gun safety, & oversight of the executive branch. The best way we can honor him is to carry on his tireless work in both Baltimore & Congress.” — Mike Bloomberg

Turkey and Syria Latest.

As U.S. Delegation Arrives in Turkey: Erdogan Set to Reject Pence’s Call for a Truce in Syria (Bloomberg)

Republicans Rebuke Trump on Syria in House Vote (New York Times)

The U.S. House of Representatives voted 354 to 60 for a nonbinding resolution expressing opposition to Trump’s decision to abandon the Kurds, a measure that drew support from two-thirds of the House Republican caucus and – notably – all three of its top leaders.

First on Bloomberg: Trump-Erdogan April Call Led to Lengthy Quest to Avoid Halkbank Trial (Bloomberg)

In an April phone call, Trump told Erdogan that William Barr and Steven Mnuchin would deal with the Turkish President’s repeated pleas to avoid charges against one of Turkey’s largest banks. In the months that followed, no action was taken against Halkbank for its alleged involvement in a massive scheme to evade sanctions on Iran. That changed when an undated indictment was unveiled Tuesday.

Today in Economic and Financial News.

Bulletin: U.S. Factory Output Falls by Most in Five Months on GM Strike, Trade War, Sluggish Demand (Bloomberg)

Ahead of Canada’s Election Monday: Justin Trudeau Has Canadian Economy Humming (Bloomberg Opinion – Matthew Winkler)

How to Save Hong Kong’s Economy as Leader Carrie Lam Warns of ‘Unprecedented’ Economic Challenge (Bloomberg)

President Trump’s Talk Can Move Markets – Some Futures Traders Have Made Billions (Vanity Fair – William Cohan)

Behind the fantastically profitable mystery of the Trump chaos trades. Did they know what he was going to say before he said it?

HSBC Considers Equity Pullback in London, New York, Germany (Bloomberg)

HSBC’s Asian equities operation isn’t affected by the review. The company makes the bulk of its earnings in the Greater China region and is embarking on the cuts as part of broader plans to reduce its headcount by thousands across different businesses.

Today in Social Media.

Kara Swisher: Facebook Finally Has a Good Idea (New York Times)

The company’s latest plan to police toxic social media content is intriguing — and even laudable.

The new idea is different than what came before and also a giant undertaking. The Oversight Board will eventually have 40 part-time members with staggered three-year terms that are renewable for nine years — and it will be funded through a trust paid for by the company.

Success of the board will depend on whether it has the buy-in of the godlike engineers at the company. In conversations with Facebook executives, I’ve been assured that the techies indeed support it.

#Whoa: Twitter Will Restrict Users from Retweeting World Leaders Who Break Its Rules (TechCrunch)

Dining at the Movies section.

The Food Film Festival Returns to New York City Tonight (Broadway World)

The four-day festival features a series of events where guests are served the food from the films they are watching on the screen.

The Festival kicks off tonight with an event exploring flavor intensity with ‘Edible Adventure #017: Deep Flavor Dive,’ tomorrow focuses on the many flavors of New York City with ‘Hometown Heroes: NYC,’ and Saturday will feature ‘American Eats: Meats and Treats.’ Bloomberg Philanthropies is a sponsor and get your tickets here.

Best of late night.

“Some business news: Bed, Bath & Beyond announced that they are closing 60 locations. I knew the company was in trouble when I got a 20% off coupon in the mail to buy an actual ‘Bed, Bath and Beyond.’”
— Jimmy Fallon

On the new Google Pixel 4 which has new “gesture control” capabilities for users to control the device hands free:

“This really is amazing technology. You can open your phone just by waving at it. No one’s ever had this technology! Except for the front door of a Walgreens, I have never seen it before!”
— Trevor Noah

“You know what’s weird is, how the way we unlock our phones is evolving. Because first we had to type in a code. And then we just had to pick it up and look at it. Now, we can just wave at it without touching it. It feels like we’re slowly breaking up with our phone. It’s almost like the next phone will let you unlock it by telling it “it’s not you, it’s me”.”
— Trevor Noah

And finally:

Birthday of the Day: Peter Grauer

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