Financial Markets and Economy
From Aluminum to Zinc, All Metals See First-Half Deficits: Chart (Bloomberg)
All six main industrial metals — copper, aluminum, nickel, zinc, lead and tin — had deficits in the first half of the year, according to figures from the World Bureau of Metal Statistics.
Wal-Mart Outlook Rebuts Target’s View of Jittery U.S. Shopper (Bloomberg)
Sorry, Target Corp., but the U.S. consumer isn’t the problem.
That’s the view of Wal-Mart Stores Inc., which boosted its forecast on Thursday following better-than-predicted growth last quarter.
What the Fed Hasn’t Fixed (and Actually Made Worse) (The Wall Street Examiner)
The Federal Reserve claims its monetary interventions saved America from economic ruin in 2009, and have bolstered growth ever since. Don’t hurt yourself patting your own backs, Fed governors past and present: it’s bad enough that the Fed can’t fix the economy’s real problems–its policies actively make them worse.
Are U.S. Bookstores Finally Turning The Page? [Infographic] (Forbes)
For years, experts have been predicting the extinction of the bricks and mortar bookstore amid the tidal wave of digital technology. With eBook sales topping $7 billion last year, their predictions have certainly proven accurate. In the first half of 2009, sales in American bookstores were also worth around $7 billion and this fell to $5 billion during the first six months of 2014.
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This graph shows how bad US healthcare is compared to the rest of the world (Visual Capitalist)
In the late 19 90s, for example, the U.S. spent roughly 13% of GDP on healthcare, compared to about a 9.5% average for all high income countries
Rally in Super Commodity Strained by Race to Fuel Tesla (Bloomberg)
Even the mining industry’s super commodity of the future may be unable to avoid the Achilles’ heel of all mineral producers — a recurring habit of busting a boom with too much supply.
China markets dip ahead of weekly close (Financial Times)
After a previously muted response to new details on the Shenzhen-Hong Kong Stock Connect, China markets look set to close out the week on a down note.
The Gold Medal for Buying Up Brazilian Assets Goes to China Inc. (Bloomberg)
China may be lagging behind in the medal count during this year’s Olympic games in Rio de Janeiro, but it’s winning the competition for Brazilian assets.
Goldman Sachs to Offer an Online Lender for the Masses (NY Times)
Soon you will be able borrow money from a bank called Marcus. Goldman Sachs, which has been rolling out its first foray into banking for the little guy, is going back to its history to name its big new push: an online lender for the masses.
The world’s most liveable cities (The Economist)
COMING up with a list of the world’s best cities is a near-impossible task. The bustle and hum of megacities like São Paulo or Tokyo might be too much for some people; others might struggle with the pace of life in Cleveland or Frankfurt.
More Japanese Investors Are Piling Into Catastrophe Bonds (Bloomberg)
Japan’s bond investors are so desperate for yield that more and more of them are putting money in notes from insurers whose value can be wiped out by unexpectedly strong hurricanes or earthquakes.
Politics
Trevor Noah dismantles Donald Trump’s attempt to woo African-American voters (Salon)
On Wednesday’s edition of “The Daily Show,” host Trevor Noah lit into Donald Trump for attempting to appeal to black voters in front of an all-white crowd, in a Wisconsin city that is 95 percent white.
The Greatest Living American Writer: “I can no longer support this Trump fellow” (Salon)
I am the Greatest Living American Writer, the most important voice in American letters since Emerson, and definitely more important than Jonathan Franzen, who isn’t really all that important when you think for more than a minute.
WIRED endorses presidential candidate for the first time in its 23 year history (Salon)
In its 23 years of operation, the tech magazine “WIRED” has never endorsed a presidential candidate — at least, it hadn’t until now.
A former Breitbart News spokesman slammed Donald Trump’s new campaign chief executive, Stephen Bannon, for allegedly using racist rhetoric during editorial meetings at Breitbart that he said sounded "like a white supremacist rally," while a Trump ally calls the new CEO a positive addition to the team. Both men joined this week’s episode of ABC News’ Powerhouse Politics podcast.
The Mythology Of Trump’s ‘Working Class’ Support (FiveThirtyEight)
It’s been extremely common for news accounts to portray Donald Trump’s candidacy as a “working-class” rebellion against Republican elites. There are elements of truth in this perspective: Republican voters, especially Trump supporters, are unhappy about the direction of the economy.
Donald Trump’s New Childcare Plan Would Only Help The Rich (Think Progress)
In his economic policy speech on Monday, Republican presidential nominee Donald Trump is expected to announce a new policy: allowing families to fully deduct the cost of their childcare expenses from their taxes.
Ads for Presidential Race Drop 60%, Hurting Local Broadcasters (Bloomberg)
Spending on political advertising during the U.S. presidential election has dropped 60 percent from 2012, a troubling sign for local TV broadcasters that were counting on a windfall.
Technology
Man Who Introduced Millions to Bitcoin Says Blockchain Is a Bust (Bloomberg)
Stefan Thomas, who introduced millions of people to bitcoin, has had a change of heart.
Blockchain, the ledger software that makes the digital currency possible, is too rigid to gain wide adoption, he wrote in an essay titled “The Subtle Tyranny of Blockchain.”
This breakthrough could help double the battery life of future phones (TheJournal.ie)
For smartphones, battery life generally lasts a day or so, but a new type of battery could help them last longer on a single charge.
Chinese Air-Con Maker Gree Bets $2 Billion on Electric Cars (Bloomberg)
Gree Electric Appliances Inc., China’s largest air-conditioner maker, is diving into the fast-growing electric vehicle market with its 13 billion yuan ($2 billion) acquisition of Zhuhai Yinlong New Energy Co.
Here's how scientists are going to save the world from annihilation (Science Alert)
It’s no secret that the planet is in serious trouble. By August 8 this year, we’d already used up an entire year’s worth of resources – leaving us in the planetary red five days earlier than we were last year.
Health and Life Sciences
Parkinson's could be caught early by a simple eye test (Science Alert)
Scientists have shown that changes in rats' retinas can predict Parkinson's disease long before visible symptoms such as muscle tremors and stiffness start to occur.
Life on the Home Planet
Sumner Redstone Is Said to Prevail in Fight for His Media Empire (NY Times)
The fight over Sumner M. Redstone’s $40 billion media empire appears to be over.<p>A truce has been reached in the vicious corporate battle that pitted the 93-year-old Mr. Redstone and his long-estranged, recently reconciled daughter Shari Redstone against his longtime confidants and directors.
#LochteGate explained: Everything we know about U.S. Olympic swimmers alleged robbery, so far (Salon)
That four members of the United States swim team were involved in an incident early Sunday morning is indisputable — but what actually happened, and who it happened to, is a matter of debate.
'Brady Bunch's' Jan Sells Home Bought for $55K for $3.9M (Associated Press)
Malibu, Calif. (AP) — Jan may have always played second fiddle to older sister Marcia on "The Brady Bunch," but she may be tops when it comes to real estate investing.
