Good morning! Here’s what you need to know in markets on Friday.
1. Trump is either about to sort out the whole trade war thing at the G20 summit … Or we are all going back to a deep dark economic cold war sometime over the weekend. Goldman Sachs says a continued escalation of the trade war would be the “most likely” outcome.
2. A police raid of Deutsche Bank is continuing on Friday for a second day over money laundering allegations linked to the “Panama Papers”, a spokeswoman for the Frankfurt prosecutor’s office said.
3. SoftBank has set an indicative price of 1,500 yen ($13.23) per share for its initial public offering (IPO), a regulatory filing showed on Friday, making the deal worth 2.4 trillion yen ($21.16 billion) in one of the world’s biggest-ever listings.
4. Growth in China's vast manufacturing sector stalled for the first time in over two years in November as new orders slowed, piling pressure on Beijing ahead of crucial trade talks between Presidents Xi Jinping and Donald Trump this weekend.
5. In an unusual move on Thursday, a federal judge raised the prospect of not approving CVS Health's deal to buy insurer Aetna, which closed earlier this week, during a routine portion of the legal process.
6. Facebook's Sheryl Sandberg wondered whether George Soros was shorting the company stock. In fact, the chief operating officer reportedly wanted opposition research to go hard on the billionaire.
7. Google's Dragonfly execs sought to hide the giant's China search plans from their colleagues. They didn't take written notes and isolated internal teams to keep the plan secret, just in case Google employees got angry.
8. Tesla owners will be able to summon their vehicles with their phones "from across the continent" in a few years, CEO Elon Musk said on Wednesday via Twitter.
9.Those Millennials are killing a whole bunch of once-strong industries. According to the Fed, it's mostly just because they're poor.
10.And there is a reason Microsoft is about to do a number on Apple. Yes, Microsoft is less exciting, but it has a game plan that it is sticking to.