Financial Markets and Economy
German Economy Held Back by Weakest Services Growth in 15 Months (Bloomberg)
Germany’s economy lost some momentum this month as manufacturing cooled and the services sector posted its weakest performance in 15 months.
The US Has A Huge Rate Of Whites In Incarceration (But Nobody's Talking About It) (Zero Hedge)
Data provided by PrisonStudies.org is helping shed light on America’s incarceration problem, demonstrating that only the small archipelago of Seychelles, located in the Indian Ocean off East Africa, has a higher incarceration rate than the U.S.
Bentley's ultra-luxurious Bentayga SUV has a year-long backorder— here's what makes it so coveted (Business Insider)
The Bentayga, a luxury SUV loaded with innovative features, is slated to become Bentley's top seller and help double Bentley's annual US sales, according to an Automotive News report.
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.
Shake Shack's optimistic forecasts might be out of reach (The Motley Fool)
Shake Shack has been slow to grow its total footprint over its 12-year history, preferring instead to develop only the best locations and ensure quality control over rapid growth.
Here's what's dragging down the restaurant industry (The Fiscal Times)
April 2015 marked a milestone for the restaurant industry: For the first time ever, sales at restaurants and bars surpassed those at grocery stores.
U.S. Takes a Bite From Cheese Mountain With Stockpile Purchase (Bloomberg)
The U.S. Department of Agriculture plans to buy $20 million of stockpiled cheese to distribute to food banks and pantries nationwide in an attempt to stem farmer losses after dairy prices plummeted amid a global milk glut earlier this year.
A wave of activist hedge funds are shaking up Japan (Institutional Investor)
For decades Japan Inc. has frustrated the efforts of just about every foreign shareholder activist who has tried to storm its gates.
New Data Offer First Infuriating Glimpse At How The Richest 0.001 Percent Pay Income Taxes (Think Progress)
Tax day doesn’t sting much if you live at the gilded edge, according to new data on how the top one-hundredth of one percent and the top one-thousandth of a percent of all filers pay their income taxes.
The dirty little secret of central banking (The Washington Post)
Given the spectacle of this year’s presidential race, it is easy to overlook the parallel drama in the world of central banking. But when the monetary priesthood gathers Thursday for its annual seminar-cum-summer camp in Jackson Hole, Wyo., heretics will stalk the halls.
It’s Time to Bring More Realistic Models of Human Behavior into Economic Policy and Regulation (Economist View)
Behavior science has had major impacts on policy in recent years. Introducing a more realistic model of human behavior – to replace the ‘rational’ utility-maximizer – has enabled policymakers to boost savings; increase tax payments; encourage healthier choices; reduce energy consumption; boost educational attendance; reduce crime; and increase charitable giving.
Soda Consumption Falls After Special Tax in California City (The Wall Street Journal)
Consumption of soda and other sugary drinks fell by more than a fifth in low-income neighborhoods of Berkeley after the California city became the first in the U.S. to introduce a special tax last year, according to a study published Tuesday.
The dangers of momentum investing, how to be a contrarian, and a fund that's bucking the trend (The Globe and Mail)
The last time I remember this many investors using the momentum investment style was 1997. That’s not necessarily a bad thing, but it does come with risks.
U.S. Economic Confidence Index Holds at -12 (Gallup)
The Gallup U.S. Economic Confidence Index stayed steady last week, averaging -12 for the second consecutive week.
Best and Worst Performing Stocks of 2016 (Bespoke)
The average stock in the Russell 3,000 — whose index members make up roughly 98% of US equity market cap — is up just under 10% so far in 2016.
Big oil tankers' need for retrofit delays use of new Panama Canal (Reuters)
The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected because many ships must first undergo inconvenient retrofits to transit through the new locks, shipping industry experts said.
Smartphone ownership rates skyrocket in many emerging economies, but digital divide remains (Pew Research Center)
In just the past two years, there has been a vast increase in the share of people in many emerging nations surveyed who report owning a smartphone.
Eight Fed banks urge discount rate increase: minutes (Reuters)
The number of regional Federal Reserve banks calling on the central bank to raise the rate it charges commercial banks for emergency loans rose to eight in July, minutes from the Fed's discount rate meeting released on Tuesday showed.
WTI Slides After Biggest Inventory Build In 4 Months (Zero Hedge)
Amid the volatility of crude prices, inventory levels, and headline hockey; API printed a surprisingly large 4.464mm crude build (against expectations of a 850k draw).
Politics
Inside Donald Trump’s new strategy to counter the view of many that he is ‘racist’ (The Washington Post)
Donald Trump is rapidly trying to turn around his presidential campaign with a vigorous and at times strained effort to shed a label applied to him by a substantial portion of the electorate: racist.
Gary Johnson: Trump is a fascist (Politico)
Gary Johnson increased his attacks on Donald Trump on Tuesday, saying that he would consider him a fascist.
Technology
Strong demand for Samsung's Galaxy Note 7 tests supply chain (Reuters)
Better-than-expected demand for Samsung Electronics Co Ltd's (005930.KS) new Galaxy Note 7 is causing supply constraints globally, the South Korean tech giant said on Wednesday, suggesting strong initial sales for the new premium smartphone.
Future Urban Cars Will Be Simple, Self-Driving, and Super Cheap (Singularity Hub)
With Mobility on Demand, you don’t buy a car, you buy rides. That’s certainly Uber’s plan, and is a plan that makes sense for Google, Apple and other no-car companies. But even Daimler, with Car2Go/Car2Come, BMW with DriveNow and GM with Lyft plan to sell you a ride rather than a car, because it’s the more lucrative thing to do.
Health and Life Sciences
Scientists have uncovered a new family link in a rare form of cancer (Science Alert)
Scientists have spotted new links between certain gene mutations in the body and the risk of developing cancer, even in genes only loosely associated with the disease.
Earth – Our weird lack of hair may be the key to our success (BBC)
Look closely at your friends, family and even strangers. Spot anything strange?
Ignore any large noses or unusually-shaped brows. Instead, look at their hair – or rather, the lack of it.
Life on the Home Planet
Google Search Will Penalize Mobile Sites With Interstitial Ads (The Wall Street Journal)
Starting next year, Google could begin sending less traffic to mobile websites if they make use of interstitials—the pop-ups that can take up users’ screens, often with advertising.
Tesla Just Unveiled The Quickest Car You Can Actually Buy (Reuters)
Tesla Motors Inc <TSLA.O> Chief Executive Elon Musk said on Tuesday the company will offer a larger upgraded battery pack for performance versions of its Model S and X vehicles that will extend range and allow for super fast acceleration.
With Gigster, Anyone Can Hire A Great Developer From Facebook Or Google (Forbes)
Two years ago Roger Dickey, 33, started San Francisco-based Gigster, a platform where companies hire freelance software developers.
You Can Save on Airfare (If You Know the Tricks) (NY Times)
The airfare for your family vacation to Orlando, Fla., cost you $500 a person. Your friend snagged tickets there during the same week for nearly half the price. What gives? It may not be pure luck, according to Rick Seaney, the founder of farecompare.com, an airline ticket comparison site.
The Explosive New Sexual Harassment Allegations Against Bill O’Reilly, Detailed (Think Progress)
In a new lawsuit filed in New York State Supreme Court on Monday, former Fox News host Andrea Tantaros alleges she was among a number of women sexually harassed by, yes, former Fox News CEO Roger Ailes.
Earthquake in central Italy leaves dozens dead (BBC News)
At least 73 people have been killed in an earthquake that hit a mountainous area of central Italy, authorities say.
The magnitude 6.2 quake struck at 03:36 (01:36 GMT), 100km (65 miles) north-east of Rome, not far from Perugia.
