10 things you need to know in markets, November 13

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

Olivier
Douliery-Pool/Getty Images

1. US Homeland Security Secretary Kirstjen Nielsen is
reportedly being forced out of her position. Sources
say Nielsen’s departure is expected as soon as this week.

2.
The US Commerce Department has submitted draft recommendations to
the White House on its investigation into whether to impose
tariffs of up to 25% on imported cars and parts on national
security grounds. The “Section 232”
recommendations on ensuring a healthy US auto industry are
undergoing an interagency review process and will be discussed on
Tuesday.

3.
Goldman Sachs “cheated” Malaysia over its dealings with state
fund 1MDB which is the subject of corruption and money-laundering
investigations, Prime Minister Mahathir Mohamad told
CNBC in an interview aired on Tuesday.

4.
The US, Russia, and China, among others, refused to sign on to a
global cybersecurity pact. The Paris Call for Trust
and Security in Cyberspace calls to create international laws for
cybersecurity and warfare.

5.
Shares in Asian suppliers and assemblers for Apple fell on
Tuesday due to profit warnings that point to weakness in iPhone
sales. Hon Hai Precision Industry, known as Foxconn,
dropped more than 3%. Apple shares fell to their lowest in more
than three months on Monday after three suppliers cut their
iPhone forecasts.
The Nasdaq and other big tech names slumped.

6.Canadian Prime Minister Justin Trudeau says Canadian
intelligence has heard the recordings of Jamal Khashoggi’s
killing. Turkish President Tayyip Erdogan said that
the audio recordings had been given to the US, French, German,
and British governments.

7.
Vodafone’s new CEO said he would reduce operating costs by 1.2
billion euros by 2021 and review its tower assets to drive
returns after its organic revenue grew by 0.8% in the first
half.

8.
Hundreds of rocks rained down as tensions between Israel and Gaza
heightened. The barrage of rocket fire comes after
Israeli air strikes hit militant group Hamas’ television station
and other targets.

9.
North Korea is reportedly going forward with its ballistic
missile program at 16 hidden bases. Satellite images
suggest North Korea offered to dismantle a major launching site
but still continued to bolster more than a dozen other sites.

10.Satellite photos of the California wildfires reveal their
incredible destruction from space. As of Monday,
three major wildfires — the Camp, Hill, and Woolsey fires— have
killed dozens of people and scorched hundreds of thousands of
acres of forests and infrastructure.