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Temperatures to drop into the 40s tonight in South Florida

“The cool temperatures stay in the forecast on Thursday when the high will be about 70” writes Doug Phillips for sun-sentinel.com. Temperatures across South Florida were reaching toward the mid-60s Monday afternoon, while the possibility of a drop to the mid-40s overnight has led Broward County to declare a “cold weather emergency.” A series of shelters will be open while the emergency is in effect from 6:30 p.m. Source: sun-sentinel.com Share This:

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Seattle should drop its dead-end income-tax case | Editorial

“Seattle should drop this dead-end case and find better ways to advance the worthy conversation about inequality and inequity” writes Editorial Board Members for seattletimes.com. The city of Seattle should end its lawsuit pursuing an illegal income tax, which was decisively rejected by a judge.Seattle should abandon its costly and wrongheaded pursuit of an illegal income tax.Remember, it wasn’t Seattle officials’ idea to pick a legal fight over the income tax. Source: seattletimes.com Share This:

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Markets News 

Steinhoff shares drop 80% this week after investigation, CEO departure

“Steinhoff shares plunged another 50 percent on Friday, before recovering as traders booked profits on short positions taken out after the South African retailer disclosed accounting irregularities earlier this week” writes Simon Dawson for cnbc.com. Short-sellers borrow shares for a fee and sell them into the market, in the hope of repurchasing them at a lower price and pocketing the difference.The cost for short-sellers to borrow shares for a year has more than doubled from its twelve-month average of 1.4 percent to 3.1 percent, according to Astec, another data provider. Source:…

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Jobless claims drop to 236,000, lowest since October

“Low jobless claims are a good sign for the economy” writes Joseph Lawler for washingtonexaminer.com. Thursday’s report sets expectations for Friday’s payroll jobs report for November. With unemployment already nearly as low as it has been in a generation, at 4.1 percent in November, jobless claims are signaling that it could go lower still in the months ahead.New applications for unemployment benefits dropped 2,000 to 236,000 to start December, the Department of Labor reported Thursday, the lowest level since October, as the jobs market continued to strengthen. Source: washingtonexaminer.com Share This:

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News Oil 

Oil prices rebound as market moves on from OPEC deal

“Oil prices, meanwhile, headed higher a day after dropping to a three-week low” writes Christopher Alessi for marketwatch.com. The market’s focus continues to be rising U.S. crude production, according to analysts.Also on Nymex Thursday, prices for oil looked to recoup some of their recent losses.The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas edged up by 2 billion cubic feet for the week ended Dec. 1. Source: marketwatch.com Share This:

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Hong Kong SFC registers drop in licence applications

“In the quarter, the SFC received 2,128 licence applications, down 6.6% from the same quarter in 2016” reports financefeeds.com. The Hong Kong Securities and Futures Commission (SFC), which was recently slammed over its clumsy procedures, saw a drop in the number of license applications in the quarter to September 30, 2017.PRP recommended that the SFC enhances its monitoring of the processing of licensing applications.The data come from a quarterly report that the Hong Kong regulator released earlier today.Thus, for instance, PRP reviewed nine licensing applications for different types of regulated activities…

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Immigration enforcement under Trump: Fewer people caught at border, more arrested inside the U.S.

“Ten months after President Trump took office, the effect of his toughened immigration policies is showing up: The number of people caught at the southwest border has declined, while arrests of immigrants inside the country surged by 40%, statistics released Tuesday showed” writes Joseph Tanfani for sun-sentinel.com. The chief of Immigration and Customs Enforcement pledged a fourfold increase next year in the number of workplace immigration enforcement actions.At a news conference, Thomas Homan, acting director of ICE, dismissed complaints from immigration advocates about the rollback of Obama administration policies that…

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Earny, which checks for price drops on items users bought and then asks retailers like Target or Amazon for a refund, raises $9M Series A led by Mayfield

“Some retailers and credit card companies will even guarantee price drop refunds for up to 90 days” writes Hour Ago Lucas for techcrunch.com. The startup is also announcing that it will be automating credit card price protection claims for all Visa cards.Earny will contact the retailers to ensure that the money goes back on your credit card, or arrives via a check.But it can be a hassle to keep track of price changes and to follow through and get your money back. Source: techcrunch.com Share This:

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Markets News Stocks 

The risks from a big stock or bond market drop ‘are high and rising,’ government watchdog says

“In the bond market, sensitivity of bond prices to interest rate moves has steadily increased since the crisis, the report said” writes Senior Economics Reporter for marketwatch.com. Market participants may also overreact to an interest rate spike, like the taper tantrum of 2013.The potential market losses from an interest rate spike are now much higher than they were in 1994.Risks “are high and rising” from the potential for a sudden drop in the stock and bond markets, according to the Office of Financial Research, the government agency tasked with looking…

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Arrests along Mexico border drop sharply under Trump, new statistics show

“But while the agency took into custody more immigrants with criminal records, the fastest-growing category of arrests under Trump has been those facing no criminal charges” reports washingtonpost.com. The increase in arrests is also placing a new burden on U.S. federal immigration courts, which are struggling with a backlog of more than 600,000 cases. Source: washingtonpost.com Share This:

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