IN THE NEWS TODAY
President Trump will head to Capitol Hill today to rally Senate GOP on taxes and will also enter into negotiations with Democrats. Two GOP senators, Ron Johnson and Bob Corker, said they could oppose the tax package that GOP leaders hoped to vote on later this week. (AP & Reuters)
* Senators scramble to advance tax bill that increasingly rewards wealthy (NY Times)
* Some Wall Street pros see tax plan as too much of a good thing with too high a price (CNBC)
The fight for control of the U.S. consumer watchdog agency has intensified as Mick Mulvaney, President Trump's pick to run the Consumer Financial Protection Bureau (CFPB), imposed a hiring freeze and halted any new regulations. (Reuters)
President Trump once again called Sen. Elizabeth Warren "Pocahontas" during an event honoring Native American veterans. Trump previously sparked backlash by using the term, which Warren and others have called racially charged. (CNBC)
Democratic Rep. Luis Gutierrez, a prominent critic of Trump's efforts to deport millions of undocumented immigrants in the U.S., is reportedly expected to announce today that he will not seek re-election next year. (Politico)
Democratic Sen. Al Franken returned to Congress this week to begin what he called a process of rebuilding trust shattered by allegations he had groped or inappropriately touched women, vowing "this will not happen again." (Reuters)
Evidence that embattled bank Wells Fargo had swindled some of its clients emerged in a June conference call led by its managers, according to two employees who were present during the call, The Wall Street Journal reported.
A volcano gushing towering columns of ash closed the airport on the Indonesian tourist island of Bali for a second day today, disrupting travel for tens of thousands, as authorities renewed their warnings for villagers to evacuate. (AP)
Elon Musk's SpaceX has raised another $100 million as part of its latest funding round, according to new regulatory documents. Since August, it has raised nearly $450 million, valuing the company at $21.5 billion, according to Equidate. (CNBC)
* Tesla truck will need energy of 4,000 homes to recharge (FT)
Japan's SoftBank Group is offering to purchase shares of Uber at a valuation of $48 billion, a 30 percent discount to its most recent valuation of $68.5 billion, a person familiar with the matter told Reuters.
Microsoft (MSFT) and SAP (SAP) have agreed to expand the use of each other's cloud-based products and services delivered via the internet, they said today, as they laid out a common product roadmap for joint customers. (Reuters)
Cyber Monday sales were on pace to hit $6.59 billion by the end of Monday, Adobe Insights revealed. That would make Cyber Monday the largest digital shopping day in U.S. history, with sales climbing more than 16 percent from a year ago. (CNBC)
Former Fortress hedge fund manager Michael Novogratz says that bitcoin can multiply more than four times in roughly the next 13 months. But Novogratz doesn't recommend retail investors put any more than 1 to 3 percent of their net worth in cryptocurrencies. (CNBC)
STOCKS TO WATCH
Athenahealth (ATHN) named Marc Levine as its new chief financial officer. Levine is a former executive at Hewlett-Packard and JDA Software, and will replace interim CFO John Kane, who will continue as a board member for the health care software maker.
Toyota Motor (TM) appointed Koji Kobayashi as chief financial officer. Kobayashi had been a top executive at the automaker's biggest parts supplier, Denso Corporation, and had previously worked at Toyota for more than 30 years.
Unilever (UL) is considering abandoning its dual structure, although the consumer products giant added that it had not made a final decision as yet. Unilever currently has dual headquarters in Rotterdam and London, and had said it would review its structure after rejecting a $143 billion takeover offer from Kraft Heinz earlier this year.
Hormel (HRM) said its acquisition of deli meats company Columbus Manufacturing had closed, and the food maker also raised its full-year 2018 guidance to a range that comes in largely above Street consensus.
SodaStream, a company whose devices let people turn seltzer into soda or lemonade, launched a new drink mix that allows users to turn water into wine. It's the first time the company has offered an alcoholic mix for sparkling water. (The Verge)