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President Donald Trump speaks on the possibility of a government shutdown during the signing ceremony for the First Step Act and the Juvenile Justice Reform Act in the Oval Office of the White House December 21, 2018 in Washington, DC.

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President Donald Trump speaks on the possibility of a government shutdown during the signing ceremony for the First Step Act and the Juvenile Justice Reform Act in the Oval Office of the White House December 21, 2018 in Washington, DC.

President Donald Trump told reporters on Wednesday that there was a “glitch” in the stock market last month, but that equities should recover as the U.S. completes trade deals with countries like China.

The S&P 500 dropped more than 9 percent last month to notch its worst December performance since 1931. Those losses also pushed the broad stock index to its worst annual performance since 2008 — when it plunged more than 38 percent. For 2018, the S&P 500 pulled back 6.2 percent.

Equities fell sharply in December as investors grappled with fear that the Federal Reserve might be making a monetary policy mistake, worries of a possible economic slowdown and ongoing trade negotiations between China and the United States.

China and the U.S. agreed to a 90-day grace period on Dec. 1 to try and strike a permanent trade agreement. Both countries have slapped tariffs on billions of dollars worth of their goods.

This is a developing story. Check back for updates.

Watch: Stocks open the new year on a down note — Here’s what three experts say investors should watch out for

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French watchdog slaps Google with $57 million fine under new EU law

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France’s data privacy watchdog has fined Google 50 million euros ($57 million), the first penalty for a U.S. tech giant under new European data privacy rules that took effect last year.

The National Data Protection Commission said Monday it fined the U.S. internet giant for “lack of transparency, inadequate information and lack of valid consent” regarding ad personalization for users.

The commission said users were “not sufficiently informed” about what they were agreeing to.

It’s the biggest regulatory enforcement action since the European Union’s General Data Protection Regulation, or GDPR, came into force in May.

Google said in a statement it’s “deeply committed” to transparency and user control as well GDPR consent requirements and is deciding “our next steps.”

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Theresa May makes last-ditch Brexit bid to win over UK lawmakers

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Prime Minister Theresa May listens in the House of Commons, London.

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Prime Minister Theresa May listens in the House of Commons, London.

British Prime Minister Theresa May announced tweaks to her much-maligned Brexit deal on Monday, in the hope of winning over lawmakers who overwhelmingly rejected her proposals last week.

A major sticking point to her withdrawal deal is an agreement to ensure no hard border returns between Northern Ireland and the Republic of Ireland. Some Brexiteers feel that “backstop” could be used by Brussels as a means to keep Britain within the EU while the Northern Irish Democratic Unionist Party (DUP) is nervous it would lead to Northern Ireland being treated differently from the rest of the U.K.

In a statement to the lower house of Parliament on Monday afternoon, May said she would now discuss with the DUP on how to allay fears among the people of Northern Ireland before returning to negotiate further with Brussels.

However, May said the prospect of a second Brexit referendum did not enjoy majority support and also rejected the growing calls for her to rule out a “no-deal” Brexit as a possibility.

“The right way for this house to rule out ‘no deal’ is for this house to approve a deal with the European Union,” she said.

In what appeared to be some small concession to opponents, May said her government would also guarantee that workers’ and environmental rights would not be eroded post-Brexit and that a £65 ($84) fee for EU nationals applying for settled status would now be abolished.

May said she would continue to hold further meetings on Brexit next week and hoped that opposition leader Jeremy Corbyn would hold talks with her. Corbyn’s response to May’s statement was to accuse her of failing to realize the extent of her defeat last week and that her cross-party talks have been a “sham.”

Prior to the statement, sterling sat at 1.2870 versus the dollar and rose to $1.2890 as she spoke.

Parliament will now debate Monday’s statement from the U.K. leader before a vote on the motion is taken on Tuesday January 29.

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Why SAP’s CMO Alicia Tilliman is going to WEF at Davos 2019

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Alicia Tillman has been chief marketing officer (CMO) at technology firm SAP for just over a year and this week she will attend the World Economic Forum (WEF) meeting in Davos for the first time, joining senior marketers from companies including Microsoft, AT&T, Unilever, Dell and Google.

But what place do marketers have at WEF, where topics include geopolitics, tackling malnutrition and nuclear power?

While SAP chief executive Bill McDermott will take part in a panel on leadership in the Fourth Industrial Revolution as part of the WEF program, Tillman’s focus will be on how brands can have a higher purpose.

This might sound lofty, but it reflects the changing role of marketing. It’s no longer simply about glossy adverts or clever social media campaigns, marketers want to be central to business, bringing what their customers want into the boardroom.

“I’ve been the CMO of SAP for a little bit over a year now. You know if we think about the purpose of the World Economic Forum it really is about, you know, bringing together leaders in the public and private sectors to come together to think about strategies to create real change in the world,” Tillman told CNBC by phone last week.

“And for me and the marketing organization (at SAP), if I reflect on what has emerged as one of our biggest roles in SAP, it has been to make it clear that the role that SAP plays in impacting change in the world.”

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