Financial Markets and Economy
Why Economists Are Better Than Markets at Telling You How the Economy Is Doing (Bloomberg)
If you want to know how the economy is doing, trust an expert rather than the financial markets, says a team led by Paul Donovan, UBS Ltd.'s managing director of global economics.
The stock market just did something it hasn't done in at least 45 years (Business Insider)
The stock market has been really boring.
What’s Going On With USD Libor? (Value Walk)
While the financial world’s attention is fixed on the global macro economy, Brexit and, China, something has been going on with USD Libor fixings.
Here's Why It's All Downhill for Oil Refiners (Bloomberg)
As earnings season gets into full swing, a casual glance at the fundamentals shows there is little for refiners to be excited about. Excessive production in the first half on the back of wider margins has resulted in a glut of refined product that is now coming back to bite. Whatever numbers are issued, it is likely to be all downhill from here.
Over The Past 50 Years An Earnings Recession Of This Magnitude Has Never Failed To Trigger A Bear Market (The Felder Report)
It’s earnings season once again and it looks as if, as a group, corporate America still can’t find the end of its earnings decline since profits peaked over a year ago. What’s more analysts, renowned for their Pollyannish expectations, can’t seem to find it, either.
Things are looking up for emerging markets (Business Insider)
Global GDP growth might get a boost next year, as some economies approach the end of the “emerging markets business cycle” and begin a gradual recovery, a new report from Morgan Stanley says.
$60 Is the New $50 for U.S. Oil Drillers Contemplating Rebound (Bloomberg)
For U.S. oil drillers, $60 is the new $50.
Yen Spike Sinks Nikkei 225 Futures on BOJ Day; Oil Extends Slump (Bloomberg)
The yen strengthened, while stocks in Tokyo fluctuated amid jittery trade ahead of the Bank of Japan’s much-anticipated policy review. Oil was on track for its third weekly decline in a month.
Why Tax Havens Are Political and Economic Disasters (The Atlantic)
In the early 1990s, economists coined the term "the resource curse" to describe a paradox they observed in countries where valuable natural resources were discovered: Rather than thriving, such countries often crumbled, economically and politically. The newfound wealth, instead of raising living standards for all, generated violence, as well as accelerating the growth of inequality and corruption.
Apple readying third bond sale this year, $7 billion expected to fund stock buyback program (9 to 5 Mac)
Apple is continuing to take advantage of low interest rates and bond sales to fund its giant stock buyback program.
Alarm Bells for Auto Loans (Wall Street Journal)
Lenders are raising concerns about a growing threat to auto-loan performance: signs that used-car values are weakening.
Alphabet posts strong revenue on video market, stock surges (Reuters)
Alphabet Inc, Google's parent, posted a 21.3 percent increase in second-quarter revenue, exceeding analysts' expectations, as the tech giant continued to nudge its vast advertising business toward mobile and capitalized on the boom in video.
This is the first pot company to trade on a major North American stock exchange (Vice News)
Canada's largest marijuana producer reached new heights on Tuesday as it officially began trading on the Toronto Stock Exchange, the first time a cannabis company has ever traded on a major exchange in North America.
Amazon Smashes Expectations As Cloud Profits Soar; Stock Dips Then Jumps (Zero Hedge)
Amazon has done it again. Moments ago Jeff Bezos' company reported Q2 earnings that blew away expectations, when it printed revenues of $30.4 billion, well above the expected $29.6 billion, up 31% Y/Y, and generating EPS of $1.78 more than 50% higher than the $1.12 expected.
Politics
After Backlash, Trump Says He Was Just Joking About Russia Hacking Hillary Clinton’s Email (Think Progress)
Republican presidential nominee Donald Trump is backtracking comments he made Wednesday encouraging Russian hackers to find emails deleted from Democratic opponent Hillary Clinton’s email server.
Hey, Hillary, How About Showing Us Your Lighter Side? (Bloomberg View)
When Hillary Clinton takes center stage Thursday night as the 34th presidential nominee of the Democratic Party, she won't have to demonstrate her competence and can't do much about her trust gap. But there is a way she could help make her case: by showing a little humor.
Technology
The robots are coming for the professionals (Times Higher Education)
Who do you think wrote the following? “Globally, stocks delivered positive absolute returns in the second quarter. Those positive returns followed a broader trend of economic strength as two of the fund’s key indicators, MSCI World Index and China PMI, trended positively in the same period.”
Health and Life Sciences
How to treat pain in people struggling with addiction (Futurity)
Researchers are testing a non-drug pain treatment for people who are trying to overcome addiction.
They hope the approach, which combines behavioral therapy and social support, will help address the opioid painkiller epidemic in the United States.
Cheat's guide (BBC)
You might need to take a seat for this… or maybe you already have.
Scientists are again warning of the many dangers of a sedentary working lifestyle sitting at a desk all day – but they do offer the ray of hope that if you can squeeze in just one hour of being active, all is not lost. So, with this in mind, here are five ways to be more active without too much effort – or going anywhere near a gym.
Life on the Home Planet
People Who Predict Floods Can’t Assume The Climate Isn’t Changing Anymore (Think Progress)
For decades, ever since scientists began estimating the threat of floods, the stale-sounding concept of “stationarity” has been a big factor in their deliberations. “Stationarity,” the theory that certain things that contribute to floods don’t change over time, traditionally included climate.
We're Getting Closer to Knowing Why Bees Are Dying Off Worldwide (Atlas Obscura)
The world bee population has been in decline for years now, and scientists have been generally puzzled over the reasons why. Insects, including bees, are essential to pollinating 75 percent of the crops we eat, meaning that bees' continued decline as a species is more than a little worrisome.
