10 things you need to know in markets, November 14

Good morning! Here’s what you need to know in markets on
Wednesday.

FILE PHOTO: 2018 Lord
Mayor’s Banquet in London
Thomson
Reuters

1.
Oil prices extended a slide on Wednesday on the back of worries
about weakening world demand and oversupply, while global
shares sagged as energy sector strains heightened anxiety about a
slow down in the global economy. US crude futures dived 7%
the previous day, suffering their biggest one-day loss in more
than three years. Brent crude futures lost 0.3% to $65.28 a
barrel as of 7:40 a.m. in London. 

2.
Theresa May’s proposed Brexit deal has the potential to break up
the United Kingdom because it will treat Northern Ireland
differently, lawmaker Jeffrey Donaldson told BBC Radio. The
comments come after the UK government
confirmed reports that May’s most senior ministers would read
the details of a Brexit withdrawal deal on Tuesday evening before
a special Cabinet meeting at 2 p.m. on Wednesday.

3.
US President Donald Trump’s top trade advisers appear to be on
wildly different pages as the China trade war hits a critical
stretch. The cracks come as President Donald Trump is
scheduled to hold talks with Chinese President Xi Jinping at the
G20 summit at the end of the month.

4.
Martin Sorrell said he’s no longer a “prisoner of history” after
leaving ad giant WPP. Sorrell quit under fire last spring as
the CEO of the world’s most powerful marketing
juggernaut. 

5.
The death toll from California’s fires has risen to 50, with
thousands of homes destroyed in Malibu and Northern
California. The Camp Fire in northern California destroyed an
entire town in less than a day and has killed at least 48 people,
making it the deadliest fire in the state’s history. The two
other fatalities occurred in the Woolsey Fire in the Los Angeles
area.

6.
The US aviation regulator has launched a high-priority probe of
the safety analyses performed over the years by Boeing, following
the crash of a Lion Air jet in Indonesia last month. The
Federal Aviation Administration said it was reviewing details
surrounding the safety data and conclusions the company
previously provided to it.

7.
A former CIA officer claimed the White House is helping cover up
Jamal Khashoggi’s murder.“The chances that Mohammed bin
Salman ordered this, we’re hitting 100%,” said former CIA officer
Bob Baer.

8.
An official Google account on Twitter was hacked by
cryptocurrency scammers trying to convince people to send them
bitcoin. Many verified Twitter accounts have been hacked to
promote similar cryptocurrency scams — the hackers will commonly
impersonate Elon Musk.

9.
NATO is looking to 3D-print parts for weapons and deliver them by
drone in its quest to retain a competitive edge.It is also
looking into areas such as artificial intelligence, connectivity,
quantum computing, big data, and hypervelocity.

10.
The US Justice Department and Securities and Exchange Commission
have subpoenaed Snap for information about its March 2017 initial
public offering. The company described the lawsuit as
“meritless.”