Financial Markets and Economy
Why Morning Is the Worst Time to Trade Stocks (The Wall Street Journal)
Rising stock-market volatility is proving especially costly for retail investors who typically buy and sell stocks soon after the market opens—often the most perilous time of the trading day.
The U.S. Dollar Is Gaining Like It's the 1980s — For Better or Worse (Bloomberg)
The dollar is in the midst of its strongest rally since 1984 and — unlike then — there may be little anyone can do to stop it.
Glencore Slumps to Record Low, Erasing Gains Since Debt Plan (Bloomberg)
Shares of Glencore Plc slumped to a record low, erasing gains since announcing a $10 billion debt-reduction plan designed to reassure investors amid mounting concern about the commodity trader and miner’s borrowing load.
OECD head says sees further cut to global growth forecasts (Reuters)
The Organisation for Economic Co-operation and Development intends to cut its forecasts for global growth with significant cuts to its outlook for some regions, the secretary general of the Paris-based think tank said on Monday.
Police target China's biggest brokerage, shares slide again (Reuters)
Chinese police are investigating senior managers at CITIC Securities, the country's biggest brokerage, the company said on Tuesday, as Beijing intensifies its scrutiny of irregular stock market activity following heavy losses since June.
An Investing Idea for the Near Future (The Wall Street Journal)
Your next financial adviser might be a centaur—not half-human, half-horse, but half-human, half-machine.
German Investor Confidence Damped by Weaker Emerging Markets (Bloomberg)
German investor confidence fell for a sixth month in September, adding to signs that the slowdown in emerging markets threatens to drag on growth in Europe’s largest economy.
The More Cash People Have, the Happier They Are (The Wall Street Journal)
Conventional wisdom says you should be investing as much of your excess money as you possibly can. That may be the best path to greater wealth. But it may not be the best path to happiness.
China Floods Economy With Over Rmb 1 Trillion In New August Credit (Zero Hedge)
When one month ago China announced that it had created just Rmb 488 billion in total new credit as per its broadest credit aggregation metric, Total Social Financing, there was concern among the liquidity addicted community that the PBOC had again hit the brakes on the country's rampant credit expansion.
One U.S. Banker Is Ready to Raise His Rates, With or Without the Fed (Bloomberg)
The president and chief executive officer of Pendleton Community Bank, headquartered in Franklin, West Virginia, says he sees “increasing loan demand” that will heat up if the central bank keeps its record stimulus in place.
Fired Currency Traders Won't Leave Quietly (Bloomberg)
As banks try to clean up trading floors beset by benchmark-rigging scandals, not all fired workers are leaving quietly. London’s specialist employment courts offer a chance to get justice, recover lost bonuses, or just hurl dirt at former colleagues.
$30 Million Settlement in Insider Trading Ring Linked to Hacking (NY Times)
Jaspen Capital Partners and its chief executive, Andriy Supranonok, have agreed to pay $30 million to settle allegations by the Securities and Exchange Commission that they illegally profited from stolen corporate information that was stolen from newswire services.
US Futures, European Stocks Rebound, Bonds Fall Ahead Of US Data Deluge (Zero Hedge)
The overnight session started with more weakness out of Asia, where chatter that the BOJ may end up doing nothing despite all the trial balloons (as we hinted yesterday), sent the USDJPY sliding, pushing the Nikkei lower, leading to a 7th consecutive decline in the Topix, the longest such stretch since 2014 even though the BOJ is now actively buying a record amount of ETFs.
U.S. crude up on Wall Street, gasoline rally; Brent premium narrows (Reuters)
U.S. crude settled up more than 1 percent on Tuesday, buoyed by gains on Wall Street and higher gasoline prices, while Brent oil advanced less ahead of the expiry of its front-month contract, narrowing the transatlantic spread to the lowest in eight months.
Bank of England holds, but hints at another cut (Business Insider)
The Bank of England held interest rates steady at their record low of 0.25% on Thursday, after the first meeting of the bank's Monetary Policy Committee (MPC) since its historic rate cut in August.
Retail sales shrink more than forecast (Business Insider)
US retail sales fell 0.3% in August, according to the Commerce Department.
Economists had forecast that sales fell 0.1% month-on-month, according to Bloomberg.
Bank of England Keeps Rate, QE Unchanged As Expected, Hints May Cut More (Zero Hedge)
As was expected by the consensus of economists, and facilitated by the recent surge of positive economic data out of the UK, moments ago the BOE did not surprise, when it kept its interest rate at 0.25% after a unanimous 9-0 vote, which also included keeping the BOE's government bond and corporate bond purchases unchanged at GBP 435 and 10bn, respectively.
Companies
Value-Seekers Warm to a $450 Annual Credit Card Fee (NY Times)
Seldom does a new credit card go viral.
There are the unboxing videos posted on YouTube: People exulting in receiving the precious new metallic rectangle, lovingly unwrapping it, boasting to the world of their ownership of it. (One video features a cat ripping the package open.
Want to Airbnb Your Luxury Home? These Companies Will Handle Everything (The Wall Street Journal)
After a road trip took him through Nashville, Tenn., Harrison Paul bought a $400,000 home there as a place to stay on occasional visits. He contemplated renting it out short-term on the Airbnb website but initially nixed the idea.
IKEA looks to click and collect as furniture sales grow online (BI Intelligence)
IKEA is looking to omnichannel fulfillment options like click and collect as the furniture market makes its way online; over the past year, IKEA has opened 19 new click and collect points, according to its recent earnings preview.
Alibaba fires 4 employees for hacking system and hoarding mooncakes (Mashable Asia)
Chinese ecommerce giant Alibaba said it fired four employees on Tuesday who were found hacking into the company's internal mooncake ordering system. They were trying to get extra boxes for themselves.
Politics
Trump doesn't exercise, and other things we've learned from the Dr. Oz interview (CNN Politics)
(CNN) – Donald Trump, the man whose doctor claims would be the "healthiest individual ever elected to the presidency," doesn't exercise, wants to lose at least 15 pounds and is on medication to control his cholesterol.
Hundreds of Latinos protest at Trump rally, clash with supporters (Reuters)
A downtown Dallas rally by presidential hopeful Donald Trump produced some of the sharpest scenes of conflict yet in his campaign as hundreds gathered to protest his positions on immigration and confronted supporters as they left the event.
A theory about how Trump could beat Clinton is coming true (Business Insider)
Back in April, when Donald Trump was 12 points behind Hillary Clinton in the polls, I advanced the theory that Trump could unexpectedly become president if there was one key demographic shift among American voters*: If Trump received 69% of the votes of "non-college educated white people," rather than the 62% that the Republicans received in 2012, he would win a majority in the electoral college, giving him the presidency with just 48% of the total vote.
Trump Foundation Investigations Now Multiplying (Fortune)
The question is what penalties could Trump or his foundation be facing.
Until a few weeks ago, the Clinton Foundation was a magnet for controversy, while the tiny Donald J. Trump Foundation remained in the shadows.
Technology
A handful of Apple employees leaked some emails about alleged sexism inside the company (Business Insider)
Apple has found itself at the centre of a discussion about workplace sexism after dozens of employee emails were leaked, alleging that the company can have a "toxic" and sexist work environment.
People in the iPhone 7 queue are p*ssed about Jet Black, Plus shortage (Mashable Asia)
Being amongst the first in the world to get an iPhone 7 Plus was meant to be a thrill for those waiting for Friday at Apple Stores around the world.
How Did G.M. Create Tesla’s Dream Car First? (NY Times)
ORION TOWNSHIP, Mich. — Ten years ago, a little-known tech entrepreneur named Elon Musk published a secret master plan for Tesla Motors, an ambitious electric car start-up he had funded.
Samsung Stumbles in Race to Recall Troubled Phones (NY Times)
SEOUL, South Korea — It was supposed to be a dramatic — but quick — recall.
Samsung Electronics said two weeks ago that it would recall 2.5 million units of its new high-end smartphone, the Galaxy Note 7, just days after some customers said their phones had caught fire.
New York's Wi-Fi kiosks disabled after complaints of people watching porn (Associated Press, The Guardian)
The web-browsing feature of New York City’s new sidewalk Wi-Fi kiosks will be disabled after critics complained that homeless people were monopolizing them and using them to watch porn, officials said on Wednesday.
Health and Biotech
Michigan resident tests positive for plague (Reuters)
A Michigan resident is recovering from the state's first ever confirmed case of bubonic plague, state health officials said on Monday.
Scientists have found the best-shaped nanoparticles to fight cancer (Science Alert)
For the first time, researchers have found that nanoparticles shaped like rods and worms are far more effective at travelling through cells and specific barriers like the nucleus than spherical ones.
Men with early prostate cancer can safely opt out of treatment, finds landmark study (Stat News)
Men diagnosed with early prostate cancer can safely choose active monitoring rather than surgery or radiation without cutting their lives short, according to an eagerly awaited landmark study published on Wednesday.
Migraines were taken more seriously in medieval times – so where did we go wrong? (Science Alert)
Have you ever experienced a migraine? If so, perhaps you recognise this:
"It feels as if there is hammering and pounding in the head. Sound or talking is unbearable, as is light or glare. The pain arises from hot, choleric fumes, together with windiness. And so one feels piercing, burning and ringing."
Life on the Home Planet
Property toll from Northern California wildfire grows to 585 homes (Reuters)
Property losses from a deadly Northern California wildfire, the most destructive this year in the western United States, climbed on Tuesday to at least 585 homes and hundreds of other structures that have gone up in flames.
China appears to be working on third airstrip on disputed South China Sea islets: expert (Reuters)
China appears to be carrying out preparatory work for a third airstrip in contested territory in the South China Sea, a U.S. expert said on Monday, citing satellite photographs taken last week.
North Korea Restarts Nuclear Plant, Warns U.S. About Weapons (Reuters)
North Korea said on Tuesday its main nuclear complex was operating and it was working to improve the "quality and quantity" of its weapons which it could use against the United States at "any time."
Floods in North Korea are the 'worst disaster' to hit the country since World War II (AFP)
Seoul (AFP) – Floods in North Korea that have left hundreds dead or missing are the "worst disaster" to hit the country since World War II, state media said on Wednesday.
China is launching a space station and wants an even bigger one (New Scientist)
China plans to launch its second space station later today, with a two-member crew to follow next month, according to China space agency officials. The launch of Tiangong-2 is another step towards China’s goal of a self-sustaining space station by 2022, and a reminder of the nation’s space prowess.
Scientists: Earth Endangered by New Strain of Fact-Resistant Humans (Borowitz, The New Yorker, Humor)
MINNEAPOLIS (The Borowitz Report)—Scientists have discovered a powerful new strain of fact-resistant humans who are threatening the ability of Earth to sustain life, a sobering new study reports.
