Financial Markets and Economy
The World's 100 Most Valuable Brands 2016: Behind The Numbers? (Forbes)
Forbes has valued the top brands in the world six times over the past seven years and each year the same brand proves to be a cut above.
The middle class is dying. The proof is in America’s cities? (Salon)
Since the year 2000, more than 80 percent of metropolitan areas saw their household incomes decline, pointing to a shrinking middle class that’s fueling economic insecurity.
Risks to world economy to be focus for G7 finance ministers – Canada official (Reuters)
The health of the world economy is expected to be a major focus at the upcoming meeting of Group of Seven finance ministers, given the increasing number of risks to growth, a senior Canadian official said on Friday.
Fed's Williams sees good outlook, 2-3 rate hikes this year (Reuters)
With the U.S. economic outlook "definitely looking good," the U.S. central bank is on the cusp of deciding whether to raise rates at any of its next few meetings, San Francisco Federal Reserve Bank President John Williams said on Friday.
Year after all-time high, no progress for sideways-trading stock market (USA Today)
It's been almost a year since the U.S. stock market hit its all-time high, and the market has made little progress since then, basically standing in place as if stopped at a malfunctioning red traffic light.
How Apple’s investment in Lyft coalition could lead to iPhone integration (Market Watch)
With Apple’s investment in Chinese ride-hailing company Didi Chuxing TechnologyCo, U.S.-based Lyft is potentially the long-term winner.
Here's why the SEC could cause the next stock market selloff (Business Insider)
The Securities and Exchange Commission finally doing its job and putting a stop to the accounting hanky-panky that artificially inflates profits.
China April economic activity data disappoints, hiking recovery doubts (Reuters)
China's investment, factory output and retail sales all grew more slowly than expected in April, adding to doubts about whether the world's second-largest economy is stabilizing.
Why Coachella is Proxy for US Economy and Society (Talented Blonde)
Hold on to your flower crowns. While the Coachella Valley Music Festival is perceived by some as the new Hippie Woodstock, it’s anything but. This Indio, Ca based festival is an elite driven event that is a reflection of the increasing chasm between ‘haves and have nots’ in the U.S. If smart money is not paying attention to Coachella it should.
Why Seagate Technology PLC Plunged 36.8% in April (Fox Business)
Shares of Seagate Technology fell 36.8% in April 2016, according to data from S&P Global Market Intelligence. This massive plunge was served in two portions, although both events were really about the same thing.
Disproving Beliefs About the Economy and Aging (NY Times)
Why is the American economy stuck in low gear?
This chart shows where the world's biggest economies do their business (Business Insider)
Trade between nations is the lifeblood of the global economy.
The ECB Met With Goldman, Other Banks At Shanghai G-20 Meeting, Allegedly Leaking March Stimulus (Zero Hedge)
On May 18, 2015, the ECB's Benoit Coeure held a closed-door speech under "Chatham House" rules in which he leaked to an audience of hedge funds in London that "the central bank would moderately front-load its purchases in its quantitative easing program because of the seasonal lack of market liquidity in the summer." The reaction was an instant 50 pips drop in EURUSD as one or more funds decided to ignore the "rules", and promptly traded on the material, market moving leak.
An idea that had Wall Street totally freaked about stocks last year just popped up again (Business Insider)
What goes up must come down. What is built up eventually breaks down.
Here's Why Alibaba's Accounting Is As Alarming As Enron's (Fortune)
Jim Chanos, the hedge fund manager who was one of the first to detect problems at Enron, says the accounting at Alibaba Group is as problematic as the now-defunct, corrupt energy company.
Time for an Investor Bill of Rights (Wall Street Journal)
Earlier this month, eight pension funds appeared in a full-page ad in The Wall Street Journal asking asset-management firms to sign a code of conduct that commits them to treating clients fairly.
Oil producers face the possibility of massive legal settlements over climate change (Daliy KO's)
You know the Gandhi saying, “First they ignore you, then they laugh …” Yeah, that one.
Online Retail Can’t Rely On Low, Low Prices Anymore (Pymnts)
Common sense isn’t so common when retail is still experiencing its fair share of upheavals from each new disruptor to make it to market, but the decade-plus of online and in-store retail operating side by side has established a few new ground rules that almost everyone can agree on. Brick-and-mortar joints usually have the upper hand on customer service, while online merchants outperform in selection and personalization.
Another Headline Head Fake – The Consumer Can’t Save The U.S. Economy (David Stockman's Contra Corner)
After a week in which all the big retailers—Macy’s, Kohl’s, Nordstrom’s, Gap, JC Penney, Dillard’s——reported exceedingly downbeat results for their April quarter, it is not surprising that the Census Bureau’s statistical fabrication mill reported robust April retail sales. Likewise, you could count on the financial press to trot out the superlatives, as in the case of the Reuters’ headline proclaiming, “U.S. retail sales rise strongly, boost economic outlook”
The Target boycott has reached a boiling point — and sales may suffer as a result (Business Insider)
Target is facing a nationwide backlash for its support of transgender rights.
Weighing the Week Ahead: Springtime for Housing? (Dash of Insight)
This week’s economic calendar includes some key data on the housing market and few other major reports. The debate about the strength of the U.S. economy continues.
Big Pharma Just Bet $10 Billion On A Cancer Drug Startup. Here’s Why. (Huffington Post)
Question: What do WhatsApp and a little-known (until recently) cancer research startup named Stemcentrx have in common?
Liquidity Problems? Deutsche Bank Offers 5% Yields If Depositors Lock Up Their Money For Three Months (Zero Hedge)
One of the reasons why central banks around the globe have flooded the financial system with trillions in excess reserves is to make sure that banks no longer have to rely on potentially fleeting short term deposits (and is also why negative interest rates have become the norm in so many part of the world, that $10 trillion in bills and bonds now trade with a negative yield).
Why The Boston Beer Co., Inc. Stock Dropped 15.7% in April (Fox Business)
Shares of Boston Beer Co. fell 15.7% in the month of April,according to data provided byS&PGlobal Market Intelligence, after the craft brewer admitted it lost market share for the second straight quarter. As of this writing, Boston Beer stock has fallen more than 23% year to date and sits within a bottlecap of a fresh 52-week low.
Good financial advisers yell at you, if needed (USA Today)
I’ve received several questions about the quality of financial advisers. Most of the questions revolved around investment performance and fees, as they often do. But one question, in particular, captured the essence of the often-strange adviser/advisee relationship. “Should I be upset if my adviser never pushes me to do better?"
Politics
Why the Senate Doesn't Have to Act on Merrick Garland's Nomination (The Atlantic)
Does the Senate have to hold hearings and a vote on President Obama’s nomination of Judge Merrick Garland to the U.S. Supreme Court? The Constitution says that unless the Senate gives advice and consent Garland cannot be appointed, but it does not require the Senate to do anything in response to the nomination.
As this wildly unpredictable primary season heads toward the finish line, the two frontrunners are widely seen as their respective party nominees. Given that presidential elections are typically glorified as proof of our democracy at work, it seems appropriate to ask what kind of democracy has been revealed by this year’s primary season.
In his book “Democracy, Inc.,” the late, distinguished political scientist Sheldon Wolin has argued that we have a “managed democracy,” that elite “management” of elections is the key to perpetuating the “primal myth” that the people determine the rulers.
Technology
Fear our new robot overlords: This is why you need to take artificial intelligence seriously (Salon)
There are a lot of major problems today with tangible, real-world consequences. A short list might include terrorism, U.S.-Russian relations, climate change and biodiversity loss, income inequality, health care, childhood poverty, and the homegrown threat of authoritarian populism, most notably associated with the presumptive nominee for the Republican Party, Donald Trump.
Nvidia’s hardware keeps winning because of its software (Venture Beat)
Nvidia will launch its GeForce GTX 1080 for $600 later this month. Then in June, it will launch the GTX 1070 for $380. Both of these devices feature the company’s new 16nm architecture, which means more power, less heat, and better visuals. That’s going to lead to some seriously impressive benchmarks, which is the kind of thing that gets people excited to buy a graphics card. Nvidia knows that, but the company doesn’t put all its focus on its chips. It is also keenly aware of what makes you happy to own its GPUs throughout the length of the product’s life. And knowing the distinction between getting a consumer to buy something and making them happy that they own it is crucial.
Fender’s first foray into headphones sounds great (Tech Crunch)
I was cynical at first. I mean, I still have some underlying (if not entirely well-founded) suspicions that Fender’s new line of in-ear monitors is part of a bigger play to expand beyond its customary guitar and amp offerings. But if the FXA6 is, indeed, just the first step of some larger world domination plan, it’s an extremely solid one.
Health and Life Sciences
Drugs stop seizures by shutting down estrogen (Futurity)
A class of drug that blocks estrogen production can quickly suppresses dangerous seizures, according to a new study.
“The effect was profound and very clear,” says senior author Catherine S. Woolley, professor of neurobiology at Northwestern University. “This shows that clinically available drugs could be effective therapies for suppressing seizures in humans.”
Life on the Home Planet
Protesters Block Train Tracks to 2 Washington Refineries (AP)
Hundreds of climate activists on Saturday marched to the site of two refineries in northwest Washington state to call for a break from fossil fuels, while a smaller group continued to block railroad tracks leading to the facilities for a second day.
When Closing a Deal Calls for Sushi, Head Here (Bloomberg)
Nobu's opening in the early 1990s in L.A. changed forever the way Westerners approach Japanese food. The formality and fear vanished in a puff as English-speaking staff and accessible menus brought Japanese specialities into the U.S. mainstream. Nobu spawned such fusion giants as Zuma and Sushisamba and also begat quieter, fancier, and more traditional restaurants like Masa in New York and Umu in London. They're chic, tiny, wildly expensive, and perfect for impressing that all-important client—or date.
30 of the most impressive new buildings in the world (Business Insider)
Architecture is important. It constitutes our built habitat, and when done well, it has the power to improve lives.
The Royal Institute of British Architects thinks that's worth celebrating, and has commissioned the first annual edition of their global architecture award, called The RIBA International Prize.
