Happy Monday — here’s what’s been happening.

1. The banks are about to get grilled once again by the government after they failed to pass on October’s rate cut in full. Treasurer Josh Frydenberg has set the competition watchdog, the ACCC, on the banks in a new inquiry that will examine how they passed on the last three cuts. That’s bound to produce some difficult questions; with the Reserve Bank of Australia having made 0.75% worth of cuts, for the big four to pass on just 0.57%. Awkward.

2. After President Donald Trump began preparing a pull-out of US troops from Syria, the region appears to have quickly descended into violent chaos. Video footage has emerged of Turkish proxy forces killing US allies, after the US all but abandoned Kurdish soldiers — an ethnic population at odds with the Turkish government. After years of fierce fighting and strained diplomatic relations, once again Syria looks to be falling apart.

3. Brits might be headed to the polls to vote once again in another Brexit referendum. Having spent the better part of three years fighting over whether they want to be Europeans or not, some MPs think it might just be easier to let the country reconsider its first choice and stay after all. However, they’ll need to convince Labour leader Jeremy Corbyn, who has indicated he doesn’t want a bar of a second vote. Meanwhile, the EU has suggested it could open up yet more talks to try to get Brexit over the line.

4. Speaking of controversial politics, just five years since we scrapped our last one, the IMF is urging Australia to bring back a carbon tax. According to it, it’s pretty much our only shot of hitting our Paris Climate Targets, but it’s warned that due to our ample fossil fuel reserves, we almost can’t tax emissions high enough. Given the policy has helped bring down more than one Australian leader before, it’s unlikely any of the current lot with be jumping on the recommendation anytime soon. Nothing to see here.

5. In his usually robust language, Trump is patting himself on the back for making the “greatest and biggest deal ever” — a long-anticipated trade agreement with China. After he began a multi-year trade war, some progress appears to have been made with Trump pulling new tariffs in return for trade concessions. However, in reality the new development equates to more of a temporary ceasefire than a full-blown armistice. Pundits will be keeping a close eye on the US President’s Twitter in the meantime for further shots to be fired.

6. Facebook’s planned cryptocurrency Libra appears to be put on life support as half a dozen of its biggest corporate supporters pull the plug on the project . MasterCard, Visa, eBay and a host of payment services are all exiting the project, while PayPal appears to have also left talks. The exits, combined with intense scrutiny from lawmakers, represent a huge blow to the initiative and leave its future uncertain. Just another reason while cash is still king, at least for now.

7. As competitors continue to muscle in on Uber’s Australian market, the ride-share company is trying to keep good customers by upgrading their wheels. For those who maintain a high rating, Uber is willing to show you a good time, with more room for those legs and big head of yours. Will it be enough though to see off the likes of DiDi and Ola though?

8. Meanwhile, game developer Blizzard swears its punishment of a pro-Hong Kong esports player had nothing to do with the company’s ties to China . The company last week banned player Blitzchung and withheld his prize money after an interview in which he supported the protesters. According to Blizard’s CEO, Blitzchung had been punished not for his specific views, but rather for distracting away from the tournament by raising a political issue. The fact that Chinese company Tencent owns a decent stake in Blizzard is beside the point it seems.

9. Office real estate company and corporate train wreck WeWork looks to be well and truly on the ropes as it reportedly asks JPMorgan for a $5 billion line of credit. After its much-hyped plans to go public fell apart, the embattled company now looks to be running out of cash altogether. Oh, how the mighty fall.

10. Contrast that with Apple, which on the back of market highs is now valued at more than $1 trillion. That was no doubt helped by the trade ceasefire with China that helped lift the tech titan’s share price by another 2% to more than $US235 a share. It doesn’t hurt that people are again buying iPhones with Apple ramping up production to keep up with demand.

BONUS ITEM

Nirvana fans are now able to bid on the green sweater Kurt Cobain wore during that episode of MTV Unplugged. Despite being discoloured, missing a button, and having what looks like a cigarette burn hole in it, the garment is expected to go for up to $US300,000. Have these people not hurt of Vinnies?

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