TOP NEWS
Chinese Manufacturing
Chinese manufacturing is expanding more briskly than had been expected, according to the latest Caixin/Markit manufacturing Purchasing Managers' Index. The November PMI came in at 51.8, up slightly from October's 51.7—economists had been expecting 51.4. China's official PMI, which polls more big businesses and state enterprises, was 50.2 for November. CNBC
U.S. Parts
Analysts reckon Huawei's latest smartphone, the Mate 30, contains no parts from American companies. This seems to be the result of the Trump administration's May ban on U.S. firms' shipments to the Chinese telecoms giant—many of those companies now have the go-ahead to resume business with Huawei, but that ship may have now sailed. Wall Street Journal
Iran Sanctions
Speaking of U.S. bans, the "Instex" mechanism for bypassing American Iran sanctions just gained more participants. The European channel, which allows Iran to keep exporting oil in exchange for other products and services, was initiated by France, Germany and the U.K. Now Belgium, Denmark, Finland, Norway, Sweden and the Netherlands are also on board. Guardian
Nomura CEO
Koji Nagai is stepping down as Nomura CEO after seven years in the role. He will be replaced from April 1 by current COO Kentaro Okuda, and will likely become the brokerage giant's chairman. Nagai had been under shareholder pressure over Nomura's first full-year loss in a decade. Financial Times
Industry Adopts Blockchain
Most industry leaders no longer ask "Will blockchain technology work?" They ask "How can we make blockchain technology work for us?" Read Deloitte's new report to see how leaders in individual industries are adopting blockchain to create long-term value.
Learn more
AROUND THE WATER COOLER
Digital Currency
Europe's failure to create a digital currency and otherwise modernize its financial system could ultimately threaten its sovereignty. As Fortune's Geoffrey Smith writes: "While diehard crypto fans continue to amuse themselves with projects intended to link future trade between colonized planets, digital currency is more clearly than ever an issue of utmost seriousness for the institutions that matter." Fortune
Oil Production
Saudi Arabia wants OPEC to extend oil production cuts through to mid-2020—a move that would be most helpful for Aramco's upcoming IPO, the pricing of which is coming in a few days' time. Not in Aramco's favor: growing unrest in the Middle East, which Saudi Arabia fears might lead to a drop in oil prices. WSJ
Leaders Resign
Two prime ministers have fallen on their swords. Iraq's Adel Abdul Mahdi quit yesterday following weeks of deadly protests—his resignation followed the killing of 50 demonstrators. And Malta's Joseph Muscat will leave office next month amid accusations of corruption and cronyism related to the assassination of investigative journalist Daphne Caruana Galizia. BBC
Facebook Ads
Facebook has removed a political ad from the U.K.'s Conservative Party, because it included doctored footage from the BBC. The ad was edited to use clips out of context, for example showing journalist Laura Kuenssberg saying "A pointless delay to Brexit" when the omitted context would have shown that she was quoting Prime Minister Boris Johnson. The BBC complained to Facebook. Telegraph
This edition of CEO Daily was edited by David Meyer.
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