Financial Markets and Economy
Markets Swing in Tandem as Brexit Amps Up Correlations (Bloomberg)
It’s back to the drawing board for investors who were just getting used to markets moving independently.
Stocks Slip Amid Post-Brexit Fallout (Wall Street Journal)
Global stocks extended losses Wednesday while government bond yields in the U.S., U.K. and Japan hit record lows as a rebound following the U.K.’s vote to exit the European Union continued to unravel.
Global bond burn from Brexit may now force fiscal response (Business Insider)
A slump in long-term interest rates since Britons voted to quit the European Union is the clearest financial market verdict on the global impact of 'Brexit' – yet another body blow to world growth that may now need a game-changing policy response.
The economy is adding jobs, but the divide between the 'haves' and 'have-nots' is bigger than ever (Business Insider)
There’s a new 99 percent.
Crude prices slump to almost 2-month low as Brexit sparks demand concerns (Market Watch)
Oil prices dropped for a second straight day on Wednesday, as worries over the global economy after the Brexit vote fueled concerns about energy demand.
Fed Minutes Could Still Hold Important Clues Post-Brexit Vote (Bloomberg)
Minutes of the Federal Open Market Committee’s June meeting still matter, even if the U.K.’s surprise vote to leave the European Union swept away the prospects for a Fed interest-rate increase any time soon.
Don’t trust the ‘desperate’ rally — we’re stuck in a stock-market selloff (Market Watch)
The skepticism around last week’s rally is growing, piling up at about the same rate as the latest crop of Brexit heebie-jeebies.
Brexit fears and production highs crushed the oil market (Business Insider)
Oil is getting volatile again.
3 Things to Know About Record-Low U.S. Yields (Bloomberg View)
This week, the U.S. became the latest advanced economy to experience a decline to record levels of the yield of its benchmark 10-year government bonds, along with a continued flattening in the yield curve for its Treasury securities.
Gold races to 28-month high, oil pressured as Brexit fears return (Business Insider)
Gold rallied to its highest since 2014 on Wednesday and oil struggled to recover from deep losses, as renewed fears over the impact of Britain's exit from the European Union pushed investors toward safe havens.
The Myth of the Millennial Entrepreneur (The Atlantic)
"Millennials are on track to be the least entrepreneurial generation in recent history,” John Lettieri, the co-founder of the Economic Innovation Group, testified last week before the U.S. Senate. The share of people under 30 who own a business has fallen by 65 percent since the 1980s and is now at a quarter-century low, according to a Wall Street Journal analysis of Federal Reserve data.
In up-to-$10 billion IPO, China's PSBC eyes ticket to online financial services boom (Business Insider)
As part of plans for an up-to-$10 billion initial public offering, Postal Savings Bank of China (PSBC) aims to transform itself from a brick-and-mortar lender into a digital player, helped by its investors Ant Financial and Tencent Holdings.
Paris prepares incentives to attract finance jobs from London (Business Insider)
The French government will outline incentives on Wednesday to make Paris a more attractive financial center, officials said, as the French capital seeks to win finance jobs from London for a post-Brexit era.
Pound Slides Past $1.30 to Lowest in Three Decades (Bloomberg)
The drop deepened for sterling. After stabilizing early last week following the post-Brexit tumble, the pound fell for the fourth day in five Wednesday, nearing its lowest level since 1985.
Financial Markets Show Lingering ‘Brexit’ Worries (NY Times)
Financial markets got off to another weak start on Wednesday, as investors made skittish by Britain’s vote to leave the European Union fled stocks in search of safer places to stash their money.
Brexit shock may boost, not hinder, yuan internationalization (Business Insider)
London's role as a major offshore yuan hub is likely to survive Britain's decision to leave the European Union, but the vote could help foster the Chinese currency's internationalization by encouraging multiple yuan hubs in the bloc.
Brexit Demonstrates the Power of the Old (Bloomberg View)
Britain's decision to leave the European Union should serve as an important reminder for the leaders of all democracies with aging populations: Pay more attention to what older folks think, and learn how to communicate with them.
Of all age groups, people 65 and over voted most overwhelmingly in favor of Brexit.
Politics
Donald Trump: Saddam Hussein was a bad guy — but he did this one thing well (Market Watch)
Donald Trump pledged at a rally here Tuesday night that he would win the battleground state of North Carolina, citing growing support from the GOP establishment and wariness that a Clinton administration would continue President Barack Obama’s policies, particularly on foreign affairs.
Rebuke of Clinton over email use creates opening for Trump (Reuters)
The FBI report scolding Democrat Hillary Clinton over her email practices as secretary of state plays into a chief vulnerability that her rival, Republican Donald Trump, hopes to exploit – wariness among U.S. voters about her trustworthiness.
Technology
Now Scientists Are Teaching a Robot to Hunt Prey (Gizmodo)
Some scientists are hard at work making a “kill switch” to overpower a too-strong AI and protect us, if needed. Others are specifically teaching robots how to hunt prey, also to help us. What a world.
Researchers at the University of Zurich’s Institute of Neuroinformatics are teaching a small, truck-shaped robot to see, track, and hunt its prey (another small, truck-shaped robot). The predator robot uses an advanced “silicon retina” to see instead of a traditional camera.
Adorable self-driving robots will start making deliveries in Europe this month (Quartz)
Remember those little six-wheeled robots we told you about in April? They’re now set for a commercial rollout in London and three other European cities. The robots, from Starship Technologies, will be deployed this month to make deliveries for food-ordering services Just Eat and Pronto, and carry packages for courier service Hermes and supermarket Metro Group.
Health and Life Sciences
Antidepressant drug use in England has doubled in a decade (New Scientist)
Antidepressant use is at an all-time in high in England, where prescriptions filled for these drugs has doubled over the last decade.
Figures from the Health and Social Care Information Centre show that in 2015, 61 million prescriptions were filled for antidepressant drugs, including citalopram and fluoxetine.
And Now Another Problem For The Rio Olympics: Super Bacteria? (Forbes)
Next month for the Summer Olympics, some of the world’s hardiest and strongest athletes are expected to make it to Rio de Janiero, Brazil. Apparently, some of the world’s strongest bacteria has already made it to Rio as well. Researchers have found carbapenem-resistant Enterobacteriaceae (CRE) on the beaches of Rio. CRE is the big bad boy, the heavyweight, the uber femme fatale, the so-called “phantom menace”, or “nightmare” bacteria. CRE is resistant to most antibiotics and cause bad, bad, bad, and potentially life-threatening infections.
Life on the Home Planet
Syrian military declares 72-hour truce across country, but fighting continues (Reuters)
The Syrian military has declared a 72-hour "regime of calm" covering all of Syria from 1 a.m. on Wednesday (1800 EDT Tuesday), a military source told Reuters, although fighting and air attacks have been reported since then.
Beastly Category 5 Super Typhoon Nepartak is headed right for Taiwan (Mashable)
Super Typhoon Nepartak has taken full advantage of mild ocean waters and ideal atmospheric conditions to skyrocket in intensity, hitting 175 mile per hour sustained winds as of Wednesday morning eastern time.
This makes it a powerful Category 5 storm — the first of the season anywhere in the northern hemisphere.
Can Kelp Save The Pacific Ocean? (Think Progress)
When it comes to ocean acidification, the Pacific Northwest is set to be ground zero for some of the most dire impacts — so it makes sense that scientists in Washington state would be on the forefront of research aimed at finding solutions.
