| By Derek Caney
President-elect Donald Trump may have threatened Toyota over its Mexican-built cars, but the biggest risk from a punitive tariff would be for rival Nissan, the largest automaker operating in the country. Nissan built its first overseas plant in Mexico in 50 years ago and now produces more than 800,000 cars there, mainly its entry-level Versa and Sentra sedans. And it exports roughly half of its output to the United States, where it also has production plants.
China's central bank called on investors to take a rational approach to bitcoin. Officials from the People's Bank of China met with representatives of BTCC, a major bitcoin trading platform in China. They cautioned against potential risks in the platform's operations and asked it to carry out "self-inspection" according to the law, the bank said. Bitcoin plunged 20 percent yesterday after rallying more than 40 percent in the last two weeks. The virtual currency has had an inverse relationship with the Chinese yuan over that time.
Trump's latest punching bag is Senate Minority Leader Chuck Schumer. He's taken to Twitter to denigrate the hard-charging senator as a "clown." This comes eight years after Trump feted Schumer at a fundraiser in 2008 for Democratic senators at the real estate magnate's posh Florida oceanside estate.
The smog gets in your eyes 
Smog is seen over the city during hazy weather in Tianjin, China, January 3, 2017.
Around the country - The CIA has identified Russian officials who fed material hacked from the Democratic National Committee and party leaders to WikiLeaks at the direction of President Vladimir Putin through third parties, according to the intelligence briefing given to President Barack Obama. (h/t Washington Post) Trump is expected to receive his briefing today.
- Trump's transition team has issued a blanket mandate requiring politically appointed ambassadors installed by President Barack Obama to leave their posts by Inauguration Day. Previous U.S. administrations, from both major political parties, have traditionally granted extensions to allow a few ambassadors, particularly those with school-age children, to remain in place for weeks or months, according to the New York Times, which broke the story.
- Convicted murderer Dylann Roof said tearful testimony by family members of those slain in the South Carolina church massacre was excessive and would prejudice jurors who will decide whether he should be sentenced to death. "If I don't present any mitigation evidence, the victim-impact evidence will take over the whole sentencing trial and guarantee that I get the death penalty," Roof said in one of several motions decrying prosecutors' tactics.
Around Wall Street - Saudi Aramco started talks with customers to discuss possible cuts of 3 percent to 7 percent in February crude loadings to comply with OPEC production cuts.
- Chinese telecom equipment maker ZTE is slashing about 3,000 jobs, or 5 percent of its workforce. About 600 of those jobs will come from its global handset operations with the cuts concentrated in China, where it has been losing market share.
Digits of the day: 178,000 That's the consensus estimate for nonfarm payroll additions in December, putting the economy on a path to stronger growth and further interest rate increases from the Federal Reserve this year.
Around the world - Philippines President Rodrigo Duterte continued his courtship of the Kremlin, saying that he hoped Russia would become an ally of the island nation. His remarks came a day after Russia's ambassador said his country was ready to supply the Philippines with sophisticated weapons and aims to become its close friend.
- Japan temporarily recalled its ambassador to South Korea over a statue commemorating Korean women forced to work in Japanese military brothels during World War Two. Japan said the statue violated an agreement to resolve the issue of "comfort women," which has long plagued ties between the two countries.
- "It's only three days to the beheading and I've got no idea what to wear." So says one of the "Real Housewives of ISIS," a sketch from the BBC comedy show "Revolting."
Today's reason to live Bash & Pop – On The Rocks |
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