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Tuesday, December 4

4th Dec - ...and the rally is gone




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EUROPE
If Europe Can Tax Google, So Can Everybody Else BB
France and Germany have agreed a levy on big tech. The breakthrough this represents for EU rules paves the way for an OECD accord on tax.


OTHER
China Has a Secret Weapon in the Race to Dominate Electric CarsBB
Over the past two years, cobalt has emerged as one of the hottest commodities of the electric-vehicle revolution. The silvery-blue metal, an important component in lithium-ion batteries, has more than doubled in price, making carmakers and tech giants fret about securing their future needs.

The Big Picture: No recession yetDanske Bank
The global economy is slowing but will not enter a recession yet * A trade agreement between China and the US is likely in mid-2019 * Central banks will proceed cautiously with monetary tightening * Political risks will continue to dominate headlines but the economic impact likely to be limited


REGULARS
EU Open RundownRANsquawk

Brussels Edition DailyBB

Brussels BriefingFT

Eco Day EuropeBB
Weidmann's ECB Message, Macron Hemmed In, Fed's Worry * Italy’s budget deficit blues; Trump’s talk of trade deals * Mistaken assumptions in 2018 and what to watch next year

FirstFT Daily BriefingFT

WSJ Daily Economics WSJ

Danske DailyDanske Bank

Daily Market CommentMarc Chandler
Stock Rally Arrested, but Bond and Oil Advance Continues, leaving Dollar in a Lurch

Brussels PlaybookPolitico
Who’ll shape Europe in 2019 — Selmayrgate exclusive — Macron’s mission impossible

Five Things You Need to Know to Start Your Day BB

Eco Day USBB
U.S. Inflation, China’s Trade Silence, Carney on Brexit * Macron reverses fuel-tax hike after yellow vest protests * Euro area reaches deal on joint budget plan, new bond rules

US OpenZH
Stocks Slides As Trade Hopium Turns Into Hangover; Curve Inversion Accelerates

US Open RundownRANsquawk

AamukatsausNordea
Tänään Britannian parlamentti alkaa käsitellä Brexit-sopimusta | USA:n teollisuuden ostopäällikköindeksi nousi reippaasti, Turkin inflaatio hiipui | Kiinan juan vahvistui USA:n ja Kiinan väliaikaisen sovun myötä, öljyn hinta nousi reippaasti