Financial Markets and Economy
This fascinating map shows how OPEC's oil flows around the world (Business Insider)
Every major economy around the world is fueled by oil. And a lot of them run on oil produced by OPEC.
Can Capitalism Be Redeemed? (HBR)
One-on-one basketball offers two ways to play: In “winners,” the person who scores gets the next possession and a chance to do so again. In “losers,” whoever is scored against gets the ball and a chance to even it up. As a kid, I played “losers” on the little court behind my house, because it seemed inherently fairer.
Here's why the stage is set for an oil rebound (Business Insider)
The price of oil is still alarmingly low, hovering now at just under $50 per barrel, and no one can agree on when it will rise again.
SEC Readies Case Against Merrill Lynch Over Notes That Lost 95% (Wall Street Journal)
The Securities and Exchange Commission is preparing a civil enforcement case against Merrill Lynch over an investment that fell as much as 95% in value and was marketed in a way that one of the firm’s financial advisers called “borderline crooked,” people close to the probe said.
Apple's biggest category could be a huge problem in the future (Business Insider)
Near the end of last year, Apple CEO Tim Cook said that 2015 was the company’s “most successful year ever” with $234 billion of revenue.
Southeast Asia steelmakers bid to emerge from China's shadow (Business Insider)
As a construction boom spurs steel demand across Southeast Asia, countries such as Vietnam, Indonesia and Thailand are challenging a flood of imports from China by retooling their steelmaking technology or imposing tariffs.
The Three Stages of the Post-War Economy (Crossing Wall Street)
Here’s a look at the growth of the U.S. GDP in real terms since 1947, but I’ve made one major change: I’ve divided the data series by a trend line growing at 3.2% per year.
When Investors Have Too Much Choice (Bloomberg View)
The financial industry offers a dizzying array of products — more than 12,000 exchange-traded funds, exchange-traded notes, and the like. But are they all really necessary?
European Investment Bank is backing small businesses (Business Insider)
European Investment Bank (EIB) has announced that it will lend $147 million to small businesses through Funding Circle, a U.K.-based peer-to-peer (P2P) lending platform.
One of the year’s biggest safety trades could reverse even if Brexit happens (Market Watch)
Many market strategists expect haven assets like gold, the Japanese yen and government bonds to rally if Britons elect to leave the European Union in Thursday’s vote.
Here’s Warren Buffett’s 4-Point Strategy to Beat the Stock Market (Time)
Over the past couple of years, the market has been rather unpredictable. For example, who would have thought oil prices would collapse like they did, or that the market would plunge by nearly 10% during the first six weeks of 2016 only to make it all back and then some?
Existing-Home Sales at Highest Pace in 9 Years (Realtor Mag)
All major U.S. regions except the Midwest saw an uptick in existing-home sales last month, the National Association of REALTORS® reported Wednesday. As tight inventories continue to plague many markets, the median sales price for all housing types climbed to an all-time high of $239,700 in May — up 4.7 percent from a year earlier — as buyer demand outweighs housing supply.
Volkswagen's handling of emissions scandal a shambles, say investors (The Guardian)
Volkswagen shareholders have accused its executives of overseeing a shambles and demanded changes to the management structure in the first annual meeting since the carmaker became embroiled in a diesel emissions scandal.
SP 500 and NDX Futures Daily Charts – Coiling For a Move (Jesse's Cafe Americain)
The coiling is most obvious on the NDX chart.
Forget Brexit: According To Albert Edwards, There Is A Far Bigger Risk To The Global Economy (Zero Hedge)
While SocGen's Albert Edwards has opined previously on the topic of Brexit (with an apparent interest in a "leave" outcome), overnight he once again revisits the only thing that matters to markets over the next 24 hours, and looks at the possible outcome of a second "Black Wednesday", an event that could send the sterling plunging, from the prism of George Soros' recent op-ed predicting doom and gloom should the British currency rapidly devalue, and concluding that he disagrees.
Politics
Amid campaign troubles, Trump blasts Clinton as 'world-class liar' (USA Today)
His campaign in turmoil, Donald Trump sought to get back on track Wednesday with a familiar tactic: attacking Hillary Clinton.
Clinton is "a world-class liar" who has "perfected the politics of personal profit and even theft," Trump said during a heavily promoted speech he delivered as members of the GOP continued to raise questions about his campaign organization and its ability to raise money.
When House Democrats Turned Out the Lights on Republicans (The Atlantic)
Nancy Pelosi joined her colleagues on the House floor early Wednesday and promptly decried Republican leaders for turning off the microphones and shutting down access to the galleries during the Democrats’ sit-in protesting the lack of a vote on gun-control legislation.
“Mr. Speaker, turn on this microphone,” she demanded.
Technology
The Verge's home for orphaned robot babies (The Verge)
These are our robot babies. They are not pretty or intelligent and they lack skin. But they are our robot babies nonetheless. Please show them love and kindness. Do not upset the robot babies, because their knowledge and experience may one day be transferable to a larger, more powerful robot grown-up. The robot grown-ups will have weapons for arms, and thick, gyrating tentacles for legs. Our punishments will be rendered by a jury of robots that review digital archives of how we treated the babies — the ugly, unfeeling, skinless babies — so please be nice.
Health and Life Sciences
Can light ease pain of migraines? (Futurity)
Migraines are not often well controlled with medication. For some people, it may seem like nothing can stop the pain and sensitivity to light. But what if light itself was the key to getting relief?
Lab-Grown Bones Successfully Implanted in Pigs (NY Times)
Jaw bones grown in a nutrient solution were implanted in 14 animals, who are now doing fine.
Life on the Home Planet
Rise of border fences hampers wildlife movements (BBC)
The growth of border fences in Central and Eastern Europe in recent years is a "major threat" to wildlife, according to a new study.
Finally, LeBron Has Something on Michael Jordan (GQ)
Finally, LeBron James has a hook. James has long been one of the most popular athletes on the planet; his standing as one of the sport’s all-time greats has long been self-evident and since his first ring, absolutely indisputable. But after last night’s Cleveland win there’s a serious case to be made for James as the best player ever. And it’s all because James has—like he’s done with so much on and off the court throughout his career—found a way to set his own terms.
