by cnbc.com -- Cory Stieg -- Bill Gates is passionate about reading and recommending books he finds particularly thought-provoking. During an Oct. 2 speech at his alma mater Lakeside School, the Seattle high school where he met Microsoft co-founder Paul Allen, Gates pointed to two books he thinks are “pretty fundamental” to read for the people he hires to work at the Bill and Melinda Gates Foundation and Microsoft: “Factfulness by Hans Rosling and Steven Pinker’s “Better Angels of Our Nature.” Gates fans won’t be surprised that “Factfulness” is about “how life is getting better, and where the world still needs to improve,” according a Gates blog post from 2018, topics that are central to the work his foundation does — helping to improve the health and welfare of people in developing countries.

It’s one of Gates’ favorite books, and in 2018, he gave away a downloadable copy to anyone who graduated from college. “Although I think everyone should read it, it has especially useful insights for anyone who’s making the leap out of college and into the next phase of life,” Gates wrote on his blog, Gates Notes. Similarly, “The Better Angels of Our Nature” “offers a really fresh perspective on how to achieve positive outcomes in the world,” Gates wrote in another blog post. The 700-page book is about violence, which Gates says is important to understand in order to “build more peaceful societies.” “Steven Pinker shows us ways we can make those positive trajectories a little more likely,” Gates wrote. “That’s a contribution, not just to historical scholarship, but to the world.”

By Julia Horowitz, CNN Business — Saudi Arabia is moving forward with an initial public offering of its huge state oil producer …

by cnbc.com Jeff Cox-- President Donald Trump looks likely to cruise to reelection next year under three different economic models Moody’s Analytics employed to gauge the 2020 race. Barring anything unusual happening, the president’s Electoral College victory could easily surpass his 2016 win over Democrat Hillary Clinton, which came by a 304-227 count. Moody’s based its projections on how consumers feel about their own financial situation, the gains the stock market has achieved during Trump’s tenure and the prospects for unemployment, which has fallen to a 50-year low. Should those variables hold up, the president looks set to get another four-year term.

The modeling has been highly accurate going back to the 1980 election, missing only once. “If the economy a year from now is the same as it is today, or roughly so, then the power of incumbency is strong and Trump’s election odds are very good, particularly if Democrats aren’t enthusiastic and don’t get out to vote,” said Mark Zandi, chief economist at Moody’s Analytics and co-author of the paper along with Dan White, the firm’s director of government counsulting and fiscal policy research, and Bernard Yaros, an assistant director and economist. “It’s about turnout.”

Three models show Trump getting at least 289 electoral votes, assuming average turnout. His chances decrease with maximum turnout on the Democratic side and increase with minimum turnout expected. Of the three models, he does best under the “pocketbook” measure of how people feel about their finances. In that scenario, assuming average nonincumbent turnout, he gets 351 electoral votes to the generic Democrat’s 187. “Record turnout is vital to a Democratic victory,” the report said.

(MENAFN - Gulf Times) Lebanese banks have curtailed the transfer of dollar deposits abroad until political turbulence that has engulfed the country and raised fears of a collapse in its currency peg subsides. Lebanon has not imposed official restrictions on the movement of money as lenders reopen their doors after two weeks of nationwide anti-government protests. But banks have independently moved to tighten informal limits already in place for months to avoid capital flight amid crumbling confidence. Tellers working in four of Lebanon's major banks said transfers of deposits abroad had been stopped until further notice, regardless of the amount and destination. Some said they were making exceptions for clients who could prove they needed to pay for university fees, loans or healthcare abroad, for instance. The restrictions were confirmed by at least two senior bank officials, who declined to be named because of the sensitivity of the issue. Banks have fielded calls from high net worth depositors asking to move their money abroad, but both bankers said big clients had been broadly understanding when told to wait until the political uncertainty eases. 'It's gone better than expected, one of the senior bankers added.

Capital controls are becoming the weapon of choice for embattled governments in need of breathing room, with Argentina tightening its restrictions after a left-leaning populist won the presidential elections. Though Lebanon's restrictions are informal and temporary, some economists have warned they could discourage inflows from diaspora investors, the country's financial lifeline. But Lebanon, one of the world's most indebted nations, has few viable alternatives. Hundreds of thousands of Lebanese have been on the streets for two weeks, demanding the resignation of a political class they say has pillaged state coffers to the verge of bankruptcy whilst leaving the public with failing services. The protests prompted the resignation this week of Prime Minister Saad Hariri. A replacement has yet to be named, raising concerns the country will be unable to implement measures needed to avert economic crisis.