Financial Markets and Economy
U.S. Stock Futures Show No Signs of Panic Over Turmoil in Turkey (Bloomberg)
U.S. stock-index futures rose, erasing losses triggered by the failed military coup in Turkey, a sign American markets will be spared financial fallout from unrest in the Mediterranean nation.
Funds of Hedge Funds Shrink by 11% as Losses Spur Redemptions (Bloomberg)
Funds of hedge funds lost more than $100 billion in 12 months because of outflows and poor performance, according to a new report.
Wall Street is obsessed with this technology — but a big group of investors is missing out (Business Insider)
Blockchain could be a real game changer for the financial-services industry, and big Wall Street banks and stock exchanges are trying to work out how to make the technology work.
“What’s good for the Dow isn’t good for America” (Salon)
In his Friday New York Times column, Paul Krugman argued the stock market’s gains paradoxically “reflect economic weaknesses, not strengths.”
This paradox exists, he claimed, because there are “three big points of slippage between stock prices and the success of the economy in general.”
'Interest rates won't rise until 2020' (Telegraph)
The Bank of England surprised investors by holding Bank Rate steady at 0.5pc on Thursday. But for savers this offered little compensation: rates have been falling fast all year and continue to do so.
A huge oil producer is trying to ramp up exports — but the market isn't buying it (Business Insider)
There's been some good news out of Libya recently.
Oil Must Go to $40 and Stay There to Buy Russia Reforms at Last (Bloomberg)
At an oil price of $40 or below, Russian President Vladimir Putin introduced a flat income tax, built a sovereign wealth fund and delivered speeches to the Bundestag in German.
China’s Economy Gets Boost From Property, Construction Sectors (Bloomberg)
China’s real estate sector grew faster than the overall economy in the second quarter as new home purchase restrictions in the biggest cities failed to deter buyers.
We have a new government, and a new economic plan – but what exactly is it? (Independent)
A new government; a new chancellor; a new economic plan.
What Might Derail the Stock Market Rally? (Dash Of Insight)
The economic news was excellent, and the market reaction was strong. The continuing market rebound has caught many off base. This week’s review is mostly positive on economic data.
What Economic Recovery? 62% of Americans Don’t Even Have $1000 in Savings (Huffington Post)
A key sign of financial health is savings; if one does not have a decent amount of money tucked away for a rainy day, it is a sign that all is not well.
Politics
Divided Republicans Ponder the After-Trump (Bloomberg VIew)
The tensions at the 2016 Republican National Convention aren't like those typically seen at the party's divided gatherings: Teddy Roosevelt challenging the hierarchy in 1912; or the moderates versus conservatives, Dwight Eisenhower against Robert Taft in 1952, or 12 years later, Barry Goldwater and Nelson Rockefeller, then Ronald Reagan taking on President Gerald Ford in 1976.
The president of Turkey says he's in control (Business Insider)
Forces loyal to Turkey's president quashed a coup attempt in a night of explosions, air battles and gunfire that left dozens dead Saturday.
Authorities arrested thousands of people as President Recep Tayyip Erdogan vowed those responsible "will pay a heavy price for their treason."
Technology
1,000mph car (BBC)
A British team is developing a car that will be capable of reaching 1,000mph (1,610km/h). Powered by a rocket bolted to a Eurofighter-Typhoon jet engine, the vehicle will first mount an assault on the world land speed record (763mph; 1,228km/h). Bloodhound should start running on Hakskeen Pan in Northern Cape, South Africa, in 2017.
Health and Life Sciences
Here's Why You Should Care That Beer Will Have Nutrition Labels (Forbes)
Have you ever wondered how many calories and how much carbohydrates, protein, fat and alcohol is in your beer? Well, now you may know. The Beer Institute has announced The Brewers’ Voluntary Disclosure Initiative, which encourages its member companies to list the calories, carbohydrates, protein, fat and alcohol by volume in its products either on the product packaging or websites.
Life on the Home Planet
265 dead in coup attempt — almost 3,000 detained (Business Insider)
Turkish Prime Minister Binali Yildirim said Saturday 265 people were killed in the coup attempt against the government, with 2,839 soldiers now detained on suspicion of involvement. Yildirim, speaking outside his Cankaya palace in Ankara and flanked by top general Hulusi Akar who was held during the coup attempt, also described the putsch bid as a "black stain" on Turkish democracy.
