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Netanyahu heads into cabinet showdown as allies demand early Israeli elections

“Benjamin Netanyahu faces a showdown with his coalition government partners on Sunday as he tries to stop them from forcing early elections in the wake of his unpopular decision to agree to a ceasefire with Hamas” writes Tom Welsh for telegraph.co.uk. Three of the smaller parties in the Israeli prime minister’s coalition have demanded elections as soon as possible and want to use today’s cabinet meeting to formally agree on a date for the vote. Source: telegraph.co.uk Share This:

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Activists protest Democratic offices, demand ‘rapid, massive, wartime mobilization’ on climate change

“Pallone and other Democratic committee heads oppose the creation of a new climate committee, preferring to address the issue through normal channels” reports washingtonexaminer.com. Frank Pallone of New Jersey, the likely incoming chairman of the Energy and Commerce Committee, demanding stronger action to combat climate change.The previous iteration of the climate committee, which Republicans disbanded upon taking power of the House in 2011, did not have the power to draft legislation. Source: washingtonexaminer.com Share This:

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News Oil 

Oil steadies but remains threatened by potential supply glut 

“It is not only manifested in the demand for OPEC oil as estimated by forecasters, but also in OECD stock levels,” said PVM Oil Associates strategist Tamas Varga” reports cnbc.com. As a result, oil inventories are rising.”To avoid further price erosion, a production cut is a must.The oil price has lost about a quarter of its value in only six weeks in the face of soaring production led by the United States as well as a slowing global economy. “With inventories likely to build in 1Q19, prices could remain under…

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Apple supplier AMS cuts forecast, indicating poor iPhone demand

“AMS also abandoned its 2019 revenue target of more than $2.7 billion, saying it now expects annual double-digit revenue growth for the coming years” reports businessinsider.com. AMS expects revenue to come in between $480 million and $520 million in the three months to Dec. 31, compared with the $570-$610 million it forecast last month. Source: businessinsider.com Share This:

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Markets News 

Apple slides into a bear market — now down 20% from its all-time high

“Earlier this week, a handful of Apple suppliers cut their outlooks, suggesting weaker smartphone demand ahead” writes Jonathan Garber for aol.com. Apple slid into a bear market Wednesday, down 20% from its October peak.It saw its market value top out at $1.12 trillion in early October, before a stock-market sell-off ravaged the tech sector. Source: aol.com Share This:

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Dialog Semi says not seeing hit to demand from Apple

“The Anglo-German chip designer said its power management products were installed in many Apple products – and not just the latest iPhones that can be unlocked using facial recognition technology” reports businessinsider.com. It is still selling its existing generation of main PMICs to Apple, whose iPads also pack the technology, for example.FILE PHOTO – A woman checks her phone at a flagship Apple store at Iconsiam shopping mall in Bankok Thomson Reuters BARCELONA (Reuters) – Dialog Semiconductor said on Wednesday it was not seeing a hit to demand from its…

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Markets News Oil 

Market volatility due to ‘anxiety’ ahead of our December meeting, OPEC’s Barkindo says

“OPEC’s secretary general has told CNBC that oil price volatility is due to anxiety ahead of the 14-member oil producer group’s next meeting in Vienna in December” writes Holly Ellyatt for cnbc.com. “What is happening at the moment, in our opinion, is the normal volatility that comes in the run up to our conferences.The latest falls come amid heightened fears of a slowdown in global demand, with OPEC downwardly revising its projections for 2019.”We remain focused jointly with our markets to restore stability to this market and we have registered…

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News Stocks 

Goldman Sachs cuts Apple iPhone estimates on negative supplier outlook

“Goldman Sachs estimates Apple will produce 6 percent fewer iPhones next year than previously expected, after key supplier Lumentum reduced its shipment outlook, according to a report Tuesday” writes Michael Sheetz for cnbc.com. “We are concerned that end demand for new iPhone models is deteriorating,” Goldman said in the note.”We note this could easily right itself given the bulk of demand comes in late December but we feel more prudent sell through forecasts are warranted due to the timing and magnitude of this warning.”. WATCH:Apple’s stock is plunging — Here’s…

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News Oil 

OPEC knocks down oil demand forecast for the 4th consecutive month

“OPEC continued to reduce its forecast for oil demand in its latest monthly report, issuing its fourth consecutive downward revision to consumption growth for 2019” writes Essam Al-sudani for cnbc.com. “The recent downward revision to the global economic growth forecast and associated uncertainties confirms the emerging pressure on oil demand observed in recent months.”. The group has revised its outlook lower every month since July, when it initially forecast growth of 1.45 million bpd for next year.Meanwhile, the cartel now sees output from non-member nations increasing by 2.23 million bpd…

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