Financial Markets and Economy
Olympics a Losing Streak for Host Currency as Real Falls: Chart (Bloomberg)
Brazil’s real, the best-performing currency this year with a 24 percent gain, lost its shine during the Olympics in Rio de Janeiro.
This country went from boom to economic nightmare in 5 years (CNN Money)
In 2011, Mongolia's economy grew by 17% and attracted billions of dollars in foreign investment. Now, the country is facing a debt crisis and possible default.
Investors Tell U.K. Debt Office They Want More Long-Dated Bonds (Bloomberg)
Investors’ appetite for longer-dated U.K. bonds shows no signs of fading, and they just told the government debt office they want more.
10 things you need to know in markets today (Business Insider)
Good morning! Here's what you need to know in markets on Tuesday.
Europe is heading towards a "cataclysmic event" that could lead to the collapse of the euro and the end of the European project as we know it, according to Nobel prize-winning economist Joseph Stiglitz.
Oil ETF Investors Withdraw Most Money Since March: Chart (Bloomberg)
Even the longest rally in four years wasn’t enough to stop the withdrawal from the exchange-traded fund that tracks oil prices. The U.S. Oil Fund lost $299.1 million last week, the most since March.
"It's Gone" – Why Foreign Demand For US Treasuries Has Disappeared (Zero Hedge)
Last week's TIC data confirmed something the Fed's Treasury custody account has indicated for the past several months: foreign demand for US government bonds has not only tumbled, but there has been aggressive selling.
Brexit May Cut Tax Revenue by 13%, Scottish Government Says (Bloomberg)
Brexit will hit the Scottish economy and cut the semi-autonomous government’s tax revenue by as much as 13 percent by 2030, First Minister Nicola Sturgeon’s administration said.
Oil prices are falling down a hole for one major reason (Business Insider)
Oil prices are slipping downward because the market is still oversupplied, according to analysts.
The Current Gold and Silver Price Downtrend Will Prove to be Just a Temporary Lull in a Continuing Uptrend, Part 2. (Zero Hedge)
The purpose of today's very brief article is just to reassure everyone that this current pullback in gold and silver prices is not anything to worry about, but will just provide another opportunity to buy some of your favorite gold and silver stocks that perhaps you do not yet own.
German Firms Strike Cautious Tone in Clash With Solid Growth (Bloomberg)
The German economy is fulfilling its role as Europe’s powerhouse. Yet some of its biggest companies see obstacles ahead.
U.S. Farmers See Possible Benefits in Syngenta Deal (The Wall Street Journal)
Chinese state-owned ChemChina’s planned takeover of Syngenta could have inherent advantages for U.S. farmers, some farm groups say. The deal could force China to take a more direct interest in the fortunes of U.S. farmers, who are major customers of Syngenta’s seeds.
Is the Motor City Ready to Get On a Bus? (Bloomberg)
The curse of the car drives tediously slow through the region that put the nation on wheels. Traffic creeps along on torn-up downtown Detroit streets and multiple lanes clog up on interstate highways leading into and out of this formerly bankrupt city.
The Bank of Japan needs to show what it can do (Business Insider Australia)
When it comes to financial market volatility surrounding central bank meetings so far in 2016, none can surpass what we’ve seen around Bank of Japan policy meetings.
Singapore Exchange Considers Changes to Minimum Price Rule (Bloomberg)
Singapore Exchange Ltd. is reviewing a minimum trading price rule aimed at cutting excessive speculation, less than six months after it was introduced.
Home Depot is finding success through multiple channels (BI Intelligence)
In its recent Q2 2016 earnings call, Home Depot announced the success of its omnichannel efforts.
China Bonds Fall as Central Bank Gauges Demand for Lending Tool (Bloomberg)
China’s bonds fell as the central bank gauged demand for a 14-day lending tool for the first time since February, fueling speculation policy makers will tighten the availability of cheaper seven-day funds as they seek to limit the use of short-term borrowing to finance debt purchases.
Low Earners See Paychecks Grow (The Wall Street Journal)
For Americans in the bottom quarter of the income scale, pay is rising at the fastest rate since the recession, and large firms are setting a public example, putting pressure on competitors to follow suit.
Myanmar Coffee Will Hit Whole Foods As an Economic Opening Continues (Reuters)
Two shipments of coffee beans from Myanmar arrived in the United States this month, the first commercial-scale imports in over 15 years and the fruits of a U.S. government development program for farmers in the once-isolated southeast Asian economy.
Politics
Anti-Trump operatives targeted in online ‘catfishing’ scheme (Politico)
Steven Wessel is a convicted con man with a Big Apple flair, feigning connections to Ronald Reagan and pretending to be an Oxford man while bilking rich Manhattanites of $750,000.
Obama to tour flood-battered areas in Louisiana (Reuters)
President Barack Obama will visit Louisiana on Tuesday to assess flood damage there, days after he was criticized for not cutting short his vacation on Martha's Vineyard to view the devastation in the Gulf Coast state.
Who said Japan's politicians were boring? (BBC News)
Japan's Prime Minister Shinzo Abe appearing as Super Mario at the end of the Rio Olympics is only the latest in a series of quirky PR hits by bureaucrats in the country.
Technology
Augmented reality power tool helps anyone craft things (Engadget)
Crafting with CNC mills, routers and other power tools isn't all that easy, especially if you're new to it. You'll frequently want a template, and it's all too easy to mess up a cut if you haven't developed a steady hand.
Tekserve's Macintosh museum hits the auction block (CNN Money)
If you have $30,000 and a passion for tech history, you too can bid on a rare collection of 35 Apple computers Tuesday.
This self-driving bus could radically change public transportation (Business Insider)
Mercedes-Benz wants to completely change your bus-riding experience.
In July, the auto company unveiled its vision for the aptly named Future Bus — a semiautonomous bus that successfully completed a 12-mile route that included traffic lights, tunnels, and navigating around pedestrians.
Health and Life Sciences
Guys, NASA just accepted our terrible levels of sea ice as the "new normal" (Science Alert)
The 2016 melt season in the Arctic Ocean has kicked off with a bang, with NASA reporting a record low peak for sea ice in March – for the second year running – followed by rapid rates of decline in May.
Paralysis Partially Reversed With Virtual Reality Tech in Surprising New Study (Singularity Hub)
On June 12th, 2014, the world watched in awe as a young paraplegic kicked off the World Cup in Brazil with the help of a robotic exoskeleton controlled by his brain.
Life on the Home Planet
Boko Haram crisis: Nigeria air strike 'kills commanders' (BBC News)
Nigeria's army says it has killed several commanders of the Islamist group Boko Haram in an air strike and seriously wounded its disputed leader.
India doctors remove 40 knives from man's stomach (BBC News)
Doctors in the northern Indian city of Amritsar say they have surgically removed 40 knives from a man's stomach.
The man, 42, had swallowed the knives over a period of three months.
British Olympians live their best lives on the flight back from Rio (Mashable Asia)
Team GB athletes have landed at Heathrow airport in London after making history at the Rio Olympics with 27 golds, 23 silvers and 17 bronzes — the biggest medal haul since 1908.
