Financial Markets and Economy
Oil Extends Gain Amid Freeze-Pact Hope, Declining U.S. Supplies (Bloomberg)
Oil extended gains after Kuwait said a deal to freeze output can be reached without Iran and U.S. industry data showed crude stockpiles declined.
Dow's Freakish Bounce Makes Investors Whole, Can't Erase Doubts (Bloomberg)
Just as fast as U.S. stocks tumbled in what was the worst-ever start to a year, they have staged one of the biggest turnarounds in history — and yet all anyone seems to focus on are the negatives.
Russia sees oil price of $45-$50 per barrel 'acceptable' as it prepares for freeze deal – sources (Reuters)
Russia believes an oil price at $45-$50 per barrel is acceptable to allow the global oil market to balance, as it prepares to meet leading oil producers in Doha later this month, sources familiar with Russian plans said on Wednesday.
Yen at Strongest in 17 Months Probing Limit of Japan's Tolerance (Bloomberg)
Foreign-exchange traders are challenging Japanese policy makers’ tolerance for a stronger yen as the currency climbed to a level unseen for 17 months.
Rising U.S. inflation would take a bite out of the dollar (Reuters)
Currency market strategists are predicting greater weakness in the U.S. dollar over the next few months, as the Federal Reserve seems to have closed the door on interest rate hikes through the spring and left the greenback alone with a destructive bedfellow: rising inflation.
No Panic Selling Yet as Japan Stocks Approach 2016 Low: Chart (Bloomberg)
Investors so far don’t appear too worried about the latest declines in Japanese stocks, even as the Nikkei 225 Stock Average approaches a February low.
Gold slips, remains tethered to volatile stocks, oil (Market Watch)
Gold prices retreated Wednesday as a slightly stronger dollar eroded the appeal of the yellow metal and as traditional risk assets drew bidders a day after a global selloff in stocks.
How Cushing copes with full crude tanks (Reuters)
From the air above this small Oklahoma town, the 300 steel oil storage tanks that dot the landscape appear filled to the brim, their floating lids bobbing atop more than 65 millions of barrels of oil.
Global Bond Yield Plunges to Record-Low 1.3% in Warning Sign (Bloomberg)
Global bond yields fell to a record, a warning sign for the worldwide economy.
The $1 Trillion Short Underlying U.S. Stocks' Spring Awakening (Bloomberg)
Skepticism is one thing this rally hasn’t lacked.
Asian Energy Stocks Rise With Crude Oil as Japanese Shares Slip (Bloomberg)
Asian energy stocks advanced as crude oil futures rallied, while a stronger yen weighed on Japanese shares.
China Needs a New Commitment to Economic Reform (Bloomberg View)
China's leaders have been struggling with the same essential dilemma for some time: They want steady growth and short-term stability, but they also want far-reaching economic reform. Those aims can't easily be reconciled.
Up to now, the government has put growth and stability first and moved cautiously on reform. During the National People's Congress, which ends this week, Chinese policy makers seemed reluctant to recalibrate.
‘Panama Papers’ Puts Spotlight on Boom in Offshore Services (Wall Street Journal)
Even as developed countries such as the U.S. and U.K. have cracked down on financial secrecy and tax evasion in recent years, the offshore financial sector has thrived.
The U.S. Is Exporting Its Oil Everywhere (Bloomberg)
Three months since the U.S. lifted a 40-year ban on oil exports, American crude is flowing to virtually every corner of the market and reshaping the world’s energy map.
Prosecutors Are Not Amused by Hidden Trading Markups (Bloomberg View)
The financial industry is largely an industry of middlemen, and some of its deepest and most creative thinking goes into finding ways to get paid for intermediating transactions.
Coke Thinks Designer Milk Could Be a Billion-Dollar Brand (Bloomberg)
In its quest to slake the world’s thirst, Coca-Cola is intent on making milk a billion-dollar brand. But not just any kind of milk. Coke has joined forces with a dairy cooperative to create Fairlife, which produces a filtered, high-protein, low-sugar, lactose-free designer milk also called Fairlife. It costs about $4 for a 52-ounce bottle—more than organic milk and about double what the conventional stuff sells for.
Adobe Beats Estimates as Demand Surges for Cloud Services (Bloomberg)
Adobe Systems Inc. reported profit that topped analysts’ estimates as more customers signed up for its cloud-based services.
Profit, excluding some items, was 66 cents a share in the fiscal first quarter, the San Jose, California-based company said in a statement Thursday. Revenue increased 25 percent to $1.38 billion during the quarter ended March 4. Analysts had projected profit of 61 cents and revenue of $1.34 billion, according to data compiled by Bloomberg.
Politics
Imagining a More Representative U.S. Political System (Bloomberg View)
The U.S. presidential election keeps coming down to math. On Tuesday, Donald Trump said that his critics didn't understand "basic mathematics" because they keep pointing out that his share of the vote doesn't exceed 50 percent in any state. Senator Ted Cruz says no one but him "has any mathematical possibility whatsoever" of beating Trump for the Republican nomination. Governor John Kasich's campaign is all numbers now: Its goal is to deny Trump enough delegates to force a brokered convention. Mathematically, Hillary Clinton has the Democratic nomination clinched, though Senator Bernie Sanders soldiers on.
Cruz, Sanders score decisive victories in Wisconsin (Reuters)
Republican Ted Cruz scored a decisive victory over Donald Trump in Wisconsin, giving him momentum at a crucial time and putting pressure on the front-running Trump to show he can absorb the shock and bounce back in upcoming primary states.
Technology
Aging In Virtual Reality (Popular Science)
Panting and sweating with a heart rate of 125 beats per minute and rising, I look up at Bran Ferren, whose futuristic aging suit I’m currently outfitting. “How far do you think you went?” he asks. “Pretty far,” I say feeling exhausted but proud and at the same time struggling to keep myself from falling too far back on the moving treadmill. “If you keep going for another minute or two, you will have made it a half of a city block. Let’s add in a hip replacement.” Oh, great.
You'll Never Guess What This Bizarre-Looking Device Is (Gizmodo)
This device will not shine your shoes. Nor will it fix up your hair. In fact it’s a prototype asteroid cleaner, that’s been specially designed to help collect dust and debris in the far-flung reaches of our solar system.
Health and Life Sciences
A 30-Year Quest For Alzheimer's Remedy Nears The Finish Line (Bloomberg)
After decades of researching a treatment for Alzheimer’s, Claude Wischik is set to find out whether his lonely 30-year battle can lead to one of the first real treatments for the memory-destroying brain disorder that afflicts millions worldwide.
Zika mystery deepens with evidence of nerve cell infections (Reuters)
Top Zika investigators now believe that the birth defect microcephaly and the paralyzing Guillain-Barre syndrome may be just the most obvious maladies caused by the mosquito-borne virus.
Fueling that suspicion are recent discoveries of serious brain and spinal cord infections – including encephalitis, meningitis and myelitis – in people exposed to Zika.
Life on the Home Planet
'Monster' alligator is shot in Florida (BBC)
A hunter in the US has told the BBC how he shot an 800lb (360kg) alligator that was feasting on his farm's cattle.
Professional hunter Lee Lightsey said the 15 ft (4.5m) beast was one of the biggest he had come across in 18 years and required a tractor to move it.
A Massive New Coal Mine Could Devastate the Great Barrier Reef (Gizmodo)
As if the Great Barrier Reef needed more terrible news, the Queensland government issued permits this week for a controversial new coal mine that marine biologists fear could choke out portions of the reef with pollution.
