Morning Brief: South Korea prepares to ban cryptocurrencies

Thursday, January 11, 2018

What to watch today

On Thursday, investors will have a muted economic schedule with the weekly report on initial jobless claims serving as the big highlight while earnings out of Delta Air Lines (DAL) will punctuate the corporate earnings schedule.

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Top news

South Korea plans to ban cryptocurrency trading, rattles market: South Korea’s government said on Thursday it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation’s police and tax authorities raided local exchanges on alleged tax evasion. [Reuters]

Xerox in talks for deal with Japan’s Fujifilm:  Xerox Corp (XRX), under pressure to find new growth sources amid shrinking demand for its printer and copier business, is in talks for a deal with Japanese camera maker Fujifilm Holdings that could include a change in control of Xerox, the Wall Street Journal reported. [Reuters]

Toyota plant puts foreign car makers on path to pass Detroit in US production: Toyota Motor Corp.’s (TM) announcement Wednesday of Alabama as the home for a shared factory with Mazda Motor Corp. (MZDAY) highlights a major shift in U.S. vehicle manufacturing: Foreign auto companies soon will build more cars and trucks in America than the Detroit giants. [The Wall Street Journal]

Immigration agents descend on 7-Eleven stores in 17 states:  Seven immigration agents filed into a 7-Eleven store before dawn Wednesday, waited for people to go through the checkout line and told arriving customers and a driver delivering beer to wait outside. A federal inspection was underway, they said. The well-rehearsed scene, executed with quiet efficiency in Los Angeles’ Koreatown, played out at about 100 7-Eleven stores in 17 states and the District of Columbia, a rolling operation that officials called the largest immigration action against an employer under Donald Trump’s presidency. [AP]

Yahoo Finance from CES 2018: 

For more coverage of CES 2018, go to Yahoo Finance’s tech page all week

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A firefighter stands on the roof of a house submerged in mud and rocks Wednesday, Jan. 10, 2018, in Montecito, Calif. Anxious family members awaited word on loved ones Wednesday as rescue crews searched grimy debris and ruins for more than a dozen people missing after mudslides in Southern California destroyed houses, swept cars to the beach and left more than a dozen victims dead. (AP Photo/Marcio Jose Sanchez)

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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.