Financial Markets and Economy
U.S. Stocks Fluctuate Amid Focus on Interest Rates, Looming Data (Bloomberg)
U.S. stocks fluctuated, after the S&P 500 rebounded from a seven-week low, as investors awaited further direction on the health of the economy and prospects for higher interest rates.
Oil Traders Are Borrowing From Banks to Store Crude at a Loss (Bloomberg)
The waters between Singapore and Malaysia used to heave with wooden ships carrying exotic spices. Now the Straits of Malacca are filled with vessels carrying a very different sort of commodity.
Global stocks, oil, yields slip as investors start week in cautious mood (Reuters)
Stocks, oil and yields on government bonds all fell on Monday, reversing some of their recent gains as investors began the week in a cautious mood, still grappling with the possibility that U.S. interest rates could soon be raised.
It hasn't been this bad for US manufacturing since the financial crisis (Business Insider)
The manufacturing recession hasn't exactly ended.
The vast majority of $22.8 trillion in US corporate stock won’t be taxed (Quartz)
A surprising new estimate finds that only 24% of US corporate stock can be taxed by the US government because the rest is held in tax-free accounts.
The research from the Tax Policy Center has important implications for the debate over corporate tax reform in the US and how to tax capital in the new US gilded age.
Oil Discoveries Have Shrunk to a Six-Decade Low (Bloomberg)
Oil discoveries have fallen to a six-decade low as explorers cut billions of dollars of spending to ride out the biggest market slump in a generation.
Big Banks' Risk Does Not Compute (Bloomberg View)
In his new book The End of Alchemy, former Bank of England Governor Mervyn King makes a bold argument: No matter how fine-tuned our regulations, no matter how sophisticated our risk management, they cannot properly address the hazards that the financial system in its current form presents.
As it happens, mathematical analysis points to the same conclusion.
Iran has no plans to freeze oil exports, official says ahead of OPEC meeting (Reuters)
Iran has no plans to freeze the level of its oil production and exports, Deputy Oil Minister Rokneddin Javadi was quoted on Sunday as saying, as the country tries to raise its crude exports to pre-sanctions levels.
The ‘scariest chart out there’ looms over pivotal week for markets (Market Watch)
There's plenty of fear to grapple with in this market, but is it already priced in?
The Trade Show of Everything (The Atlantic)
Between the Pazhou subway station and the entrance to the 119th China Import and Export Fair, there is a fair before the fair.
Wall St. Is Mixed in Early Trading (NY Times)
United States markets wavered in early trading on Monday, while energy stocks fell along with the price of crude oil. Global markets were choppy after a meeting of the developed world’s central bankers and finance ministers failed to yield fresh ideas for spurring economic growth.
A Mystery Deal in Canada Throws Spotlight on Anbang (Wall Street Journal)
China’s Anbang Insurance Group Co. made headlines earlier this year when it precipitated a multibillion-dollar bidding war for U.S. hotel chain Starwood Hotels & Resorts Worldwide Inc., only to pull out suddenly with little explanation.
Britain faces a 'recession of its own making' if we vote for Brexit, David Cameron and George Osborne warn (Telegraph)
Britain will be plunged into a recession "of its own making" if the country votes for Brexit, the Prime Minister and Chancellor claim today.
Fed's Bullard: rates too low for too long could be risky (Reuters)
U.S. interest rates being kept too low for too long could cause financial instability in future and stronger market expectations for a rate rise are "probably good", St. Louis Federal Reserve President James Bullard said on Monday.
Axa to Divest Its Tobacco Industry Assets Worth $2 Billion (Bloomberg)
Axa SA, France’s largest insurer, said it will stop investing in tobacco and divest all of its 1.8 billion euros ($2 billion) of assets in the industry.
Apple Asks Suppliers To Produce 72-78 Million iPhone7s This Year, A 2-Year High (Barron's)
Taiwan’s Apple supply chain manufacturers soared, with the TAIEX Index closing 2.6% higher after media reports that Apple is asking its suppliers to prepare for much higher-than-expected iPhone 7 production for 2016.
Gold’s slide begins a new week as Fed speakers could back higher U.S. rates (Market Watch)
Gold futures fell Monday, stretching a two-week decline into a new week, as growing expectations for an increase in U.S. interest rates as soon as next month held precious metals prices at their lowest levels since late April.
Anthem, Cigna Privately Bicker as They Seek Merger Approval (Wall Street Journal)
Quarrels have broken out behind the scenes of Anthem Inc.’s $48 billion proposed acquisition of Cigna Corp. as the health insurers seek regulatory approval for their landmark deal, according to a series of letters reviewed by The Wall Street Journal.
Bayer defies critics with $62 billion Monsanto offer (Reuters)
German drugs and crop chemicals group Bayer has offered to buy U.S. seeds company Monsanto for $62 billion in cash, defying criticism from some of its own shareholders in a bid to grab the top spot in a fast-consolidating farm supplies industry.
Politics
How the Pentagon punished NSA whistleblowers (The Guardian)
By now, almost everyone knows what Edward Snowden did. He leaked top-secret documents revealing that the National Security Agency was spying on hundreds of millions of people across the world, collecting the phone calls and emails of virtually everyone on Earth who used a mobile phone or the internet. When this newspaper began publishing the NSA documents in June 2013, it ignited a fierce political debate that continues to this day – about government surveillance, but also about the morality, legality and civic value of whistleblowing.
Sanders steps up feud with Democratic establishment (Reuters)
Democratic presidential candidate Bernie Sanders cranked up his fight with party leaders on Sunday, backing a challenger to the Democratic National Committee's chairwoman and accusing the party's establishment of trying to anoint Hillary Clinton as the nominee for president.
Debt King Trump, Bridge Builder Clinton Equal Bigger Deficits (Bloomberg)
The U.S. looks set to rack up bigger budget deficits in the coming years, no matter who is elected president.
Hillary Clinton’s Lead Over Donald Trump Narrows (Wall Street Journal)
Republicans have rallied behind Donald Trump in the weeks since he effectively clinched his party’s presidential nomination, helping him narrow Democrat Hillary Clinton’s once double-digit lead to just 3 percentage points, a new Wall Street Journal/NBC News poll shows.
Technology
Up your phone’s photo game with Acesori’s smartphone lens kit (The Next Web)
Want to take DSLR quality photos without having to lug around a bulky camera? Acesori’s 5 Piece Smartphone Camera Lens Kit lets you take stunning photos right on your smartphone. Connecting to the magnetic ring around your smartphone’s camera, these lenses are quick to pop on and give your phone the functionality of a DSLR without the extra bulk. For a limited time, you can pick up your own lens kit at TNW deals for only $9.99.
A Virtual Walk On The Martian Surface (Popular Science)
The Martian vistas in front of me are crisp and gorgeous. The rusty rocks remind me of the hot Arizona desert. I kneel down to examine the vibrant formations around my feet. I can imagine how the sharp edges have been smoothed out over billions of years of Martian wind. Each rock is coated with a fine gray dust, and, though the surface is chilly, looks bright and warm, as though bathed in heat from the Sun.
Health and Life Sciences
How A Mindfulness-Based Approach Can Treat Social Anxiety Disorder (Forbes)
Social anxiety disorder (SAD) is an extreme fear of being judged, criticized or rejected in social situations. Fear of social criticism and rejection is a developmentally normal aspect of adolescence. However, when it interferes with the young person’s ability to engage in normal activities like school or personal interests, then professional help may be indicated. In adults, this fear may not become resolved. Over time, social anxiety can severely restrict a person’s living experience, limiting their ability to remain employed or form healthy relationships.
Older Men Are Still Being Overtested for Prostate Cancer (NY Times)
A 79-year-old man came to see Dr. Jesse Sammon at the urology clinic at Henry Ford Hospital in Detroit the other day. The patient was referred by his primary care doctor because of a slightly abnormal reading on a screening test for prostate cancer.
Life on the Home Planet
Fossil gives clues to extinction 250 million years ago (BBC)
A newly-classified fossil gives clues to how life in the oceans recovered from a mass extinction about 250 million years ago.
The reptile is an early relative of the ichthyosaurs – a large group of marine reptiles that swam at the time of the dinosaurs.
The 8 most elite special forces in the world (Business Insider)
Elite special forces are some of the best-trained and most formidable units a country can boast.
They go where other soldiers fear to tread, scoping out potential threats, taking out strategic targets, and conducting daring rescue missions.
Egypt sends robot submarine to help plane crash search (Reuters)
Egypt has sent a robot submarine to join the hunt for an EgyptAir plane which crashed in some of the deepest waters of the Mediterranean Sea with 66 people on board, President Abdel Fattah al-Sisi said on Sunday.
