Germany’s economy eked out 0.1% growth in the third quarter, narrowly averting recession against expectations. Growth for the euro area was just 0.2%, as the manufacturing slump in the region’s largest economy takes its toll. There were also signs of weakness in the latest figures from China: Industrial output and retail sales expanded less than forecast and fixed-asset investment dropped to the lowest since at least 1998. Economists are warning that China’s economy may slow further, with the risk of job cuts likely to hit consumer spending. Everything continues to come down to a trade deal, progress on which does not seem to be going well at the moment.
The first day of public hearings in Washington brought to light some new details of the Trump administration’s dealings with Ukraine. Republicans have sprung to the president’s defense, calling the testimony hearsay and pointing out that none of the witnesses have first-hand knowledge of the critical calls between Donald Trump and Ukraine’s leader. U.S. ambassador to the country Marie Yovanovitch is scheduled to give testimony tomorrow, with eight more witnesses on the calendar for next week.
Disney's streaming service got off to a hot start, attracting 10 million customers in its first day. "Disney should silence naysayers who expressed reservations about a pivot to streaming," said Bloomberg Intelligence's Geetha Ranganathan. "It took HBO Now about four years to reach about 10 million streaming subscribers." Disney shares climbed 7.3%.
Kiosk crisis: McDonald's pitched its new self-ordering kiosks as a way to boost sales by improving technology. But there's a problem: they don't accept cash. So the 8.4 million U.S. households that don't have a debit or credit card have to pay at a cash register.