Good Morning

• Federal Economics Minister Robert Habeck wants to become the Greens' candidate for chancellor. According to information from the ARD capital studio, he intends to announce his candidacy today.
• Following a “very violent incident” against Israeli citizens in Amsterdam, Israeli Prime Minister Benjamin Netanyahu has dispatched two rescue planes to Amsterdam. According to Security Minister Itamar Ben-Gvir, Israeli soccer fans were the victims of anti-Semitic attacks after a match between Ajax Amsterdam and Maccabi Tel Aviv, in which Ajax won 5:0. The Israeli government calls on its citizens in Amsterdam to stay in their hotels. After the match, 57 people were arrested as pro-Palestinian protesters tried to reach the stadium, although this was forbidden by the city.
• Donald Trump has appointed Susie Wiles as his White House Chief of Staff. Wiles, an experienced political strategist and one of Trump's campaign managers, helped him win the election. She will be the first woman in this role. Trump praised Wiles as “tough, smart and innovative.” Wiles has worked for Trump and other Republicans in previous campaigns, including Florida Governor Ron DeSantis. Further personnel decisions are expected, including possible appointments of Elise Stefanik as UN Ambassador and Richard Grenell or Bill Hagerty as Secretary of State.
• The US Federal Reserve (Fed) has lowered the key interest rate by 0.25 percentage points. Fed Chairman Jerome Powell explained that the future economic policy under the newly elected President Donald Trump will not have any immediate impact on monetary policy for the time being. However, the Fed will monitor the potential impact of Trump's planned measures on inflation and employment. Powell emphasized that the reduction in inflation is making progress, but that further adjustments may be necessary. A further rate cut is expected at the next Fed meeting in December.
• The Biden administration is planning a final diplomatic offensive to end the conflicts in Gaza and Lebanon. But Donald Trump's election victory could weaken Washington's negotiating power, as many actors in the region are likely to wait for Trump's inauguration in January. Trump has announced a pro-Israeli policy that is likely to cause Netanyahu and other regional leaders to sidestep Biden's demands. While Biden continues to push for a ceasefire and humanitarian aid in Gaza, there is little willingness among actors to accede to his demands. Analysts expect Netanyahu to make only minimal concessions so as not to jeopardize Trump's support.
• Christian Lindner, former finance minister, feels betrayed after the end of the traffic light coalition and his dismissal, especially by Chancellor Scholz and former party colleague Volker Wissing. Scholz accuses him of blocking important legislation, while Wissing remains in the red-green minority government. However, Lindner is sticking to his course and is planning a comeback as the FDP's lead candidate - despite low poll ratings.
• A recent ARD poll shows that two-thirds of Germans want new elections quickly after the end of the coalition government. Chancellor Scholz plans to hold a vote of confidence in January, which is supported by 33% of respondents. The majority (59%) welcome the end of the coalition, with many seeing the FDP as the main culprit. In the Sunday poll, the CDU/CSU is clearly ahead with 34%, while Scholz's candidacy for chancellor is also controversial within his own ranks. Transport Minister Wissing announced that he would remain in office despite leaving the party.
• How will Trump deal with China and Taiwan? His statements so far do not really sound good for Taiwan, which could massively jeopardize the global chip supply and thus the entire global economy in the event of an escalation. The uncertainty remains high, but so do the opportunities for technology companies - it remains exciting.
• Betting industry: What the betting market got right (and wrong) about the US election $400 million was bet on the US election result on the US betting site Kalshi. And the betting numbers - combined with data on where & how bets were placed - were a good basis for predicting the outcome of the US election. But as the Economist reports, the betting industry was not the very best predictor. (ECON)
• Crisis over? Real estate prices continue to rise According to the Kiel Institute for the World Economy, purchase prices for private residential property continue to rise. Condominiums and single-family homes increased in price by +1% in the third quarter. New builds in large cities were particularly in demand. (IFW)
• Economic downturn: insolvencies rose sharply in October According to a study by the Halle Institute for Economic Research (IWH), almost 50% more companies filed for bankruptcy in October than in the same month last year. The reasons for this include higher interest rates and the after-effects of the coronavirus pandemic. (SUED)
• Fed and BOE: Lower interest rates in the US and UK by 0.25 percentage points each Both central banks are lowering interest rates in response to more stable inflation around the 2% mark, strong labor markets and pressure from politicians. The Fed now expects four years of confrontation with Donald Trump, the New York Times believes. (NYT)
• Warner CEO: Expects big media mergers under Trump administration David Zaslav, the CEO of Warner Brothers Discovery, expects more M&A activity under the incoming Trump administration - especially in the media business. The reason: Under Biden, the Federal Trade Commission, which is supposed to prevent monopolies, was particularly active - and that will change under Trump, as he told The Verge. (VRG)
• Audi: Electric & without rings in China Audi is also currently losing massive market share in China. Audi CEO Gernot Döllner therefore wants to reinvent the brand - and is entering the Chinese market with an electric car that no longer has rings in its logo. (HB)
• After Trump's election victory: threat of AI losing control?
• Blooper: Google unveils AI extension Jarvis ahead of schedule
• China: Exports are booming and Trump threatens new tariffs
• Rheinmetall: Operating profit rises by 72%
• Real estate prices: Up 1.3% in September (TGS) 
• Trade associations: Like DIHK & BDI call for quick new elections (NTV) 
• Munich Re: Raises profit forecasts for 2024 (WSJ) 
• Lufthansa CEO: Carsten Spohr summoned for talks by Italian government over ITA takeover (HB) 
• Amazon: Cooperates in Germany with delivery service Knuspr (SZ)
• Bank of England: Cuts interest rate by 0.25 percentage points to 4.75% (NYT) 
• Trump election: Makes Musk $21 billion richer (TGS) 
• Philip Morris: Considers abolishing the Marlboro brand (FAZ) 
• Nissan: Wants to cut 9,000 jobs (NYT) 
• Goldman Sachs: Names more partners than at any time since 2010 (FT)
• Heidelberg Materials increases its operating result by 3% to 1.12 billion euros in the third quarter despite declining sales and turnover.
• Rheinmetall confirms its sales target of around 10 billion euros and expects an operating margin of around 15% - the upper end of the planned range.
• Munich Re defies high major losses and is on course to exceed the Group result of EUR 5 billion for the year as a whole.
• Daimler Truck records a decline in revenue of 5% to EUR 13.1 billion in the third quarter with an 11% drop in unit sales.
• Qualcomm increases revenue in the third quarter by 18% compared to the previous year and records a 68% increase in car sales to USD 899 million.
• Lyft exceeds expectations with 32% year-on-year revenue growth and raises full-year guidance, driven by record active rider numbers.
• MercadoLibre reports year-on-year revenue growth of 35%, but adjusted EBITDA remains below expectations at USD 714 million.
• Arm Holdings provides mixed guidance for the third quarter and maintains its FY2025 revenue guidance, leading to a share price decline.