Financial Markets and Economy
Merkel Rules out Assistance for Deutsche Bank, Focus Reports (Bloomberg)
Chancellor Angela Merkel has ruled out any state assistance for Deutsche Bank AG in the year heading into the national election in September 2017, Focus magazine reported, citing unidentified government officials.
A divided town in Connecticut shows that finance is ruining America (Business Insider)
BRIDGEPORT, Conn.—Few places in the country illustrate the divide between the haves and the have-nots more than the county of Fairfield, Connecticut.
DEUTSCHE BANK: All of our recession indicators are flashing red right now, but … (Business Insider)
Deutsche Bank's top European equity strategists published a big note on Tuesday examining the risks of a US recession.
In short, all the warnings signs that preceded the previous three recessions are here.
ROSENBERG: 'The Fed seems willing to play with fire' (Business Insider)
If market predictions are correct, the Federal Reserve is unlikely to announce an interest rate increase after its two-day policy meeting concluding on Wednesday.
Fed Saves The Bulls (Real Investment Advise)
As I noted on Thursday, the Fed non-announcement gave the bulls a reason to charge back into the markets as“accommodative monetary policy” is once again extended through the end of the year.
Estate Tax a Key Tool for Fighting US Inequality (Peterson Institute for International Economincs)
This year marks the 100th anniversary of the US estate tax, which affects only the ultra-wealthy. Given the rising focus on American income inequality, the tax should be on solid ground. Not so.
A European banking dynasty made another big move on Wall Street (Business Insider)
Rothschild & Co., one of the oldest banks in the UK, has made another big move on Wall Street.
The firm announced it's opening a Chicago office, at 77 W. Wacker Dr., according to a press release Thursday. It has also hired Eric Hirschfield as a managing director and head of the Chicago office.
Why one editor won’t run any more op-eds by the Heritage Foundation’s top economist (Columbia Journalism Review)
PRAIRIE VILLAGE, KS — “I won’t be running anything else from Stephen Moore.”
So says Miriam Pepper, editorial page editor of the Kansas City Star—and not just because she’s retiring this week. Pepper’s no-Moore stance comes after her paper discovered substantial factual errors in a recent guest op-ed by Moore, the chief economist at the conservative Heritage Foundation.
Americans still have no idea how to save money — even the ones making six figures (Business Insider)
If you have less than $1,000 in your savings account, you're in good company. Unfortunately, this is not the kind of good company you want to be in. It's like being on a cruise ship full of wonderful people that's slowly sinking into the ocean.
A new study finds there's a major difference between how rich and poor people spend their time (Business Insider)
Psychologists have suspected for a while now that money changes the way people act toward others.
Studies have found, for example, that wealthier people are less compassionate and more likely to check out during social interactions.
Companies
It's only a matter of time before Sears comes crashing down (The Motley Fool)
Fears expressed by Kmart employees this summer that its new inventory management program of moving all merchandise out of the stock rooms and onto the sales floor meant parent Sears Holdings (NASDAQ:SHLD) was preparing for a liquidation seem to be coming true.
The 9 Most Important Things You Need To Know About The Wells Fargo Fiasco (Forbes)
An aggressive Wells Fargo sales strategy put multiple banking products into the hands of millions of Americans. Now though, that very strategy—a long-touted growth tactic that was the center of Wells’ business for decades –is hurting the reputation of one of the nation’s most trusted banks.
Yahoo sued for gross negligence over huge hacking (The Telegraph)
Internet giant Yahoo was sued on Friday by a user who accused it of gross negligence over a massive 2014 hacking in which information was stolen from at least 500 million accounts.
Twitter needs to sell now or risk becoming another Yahoo (Business Insider)
Twitter, which was once a darling of the tech industry and went public almost three years ago in an eye-popping IPO, appears to be up for sale.
We've seen this story with an internet company before.
How Do You Value A Company Like Uber? (Tech Crunch)
I became interested in Uber after reading a news story in June 2014, which reported the company was being valued at $17 billion in its latest venture capital round.
Politics
Trump responds to Cuban: I'll put Gennifer Flowers in front row at debate (Politico)
When billionaire businessman and frequent Donald Trump critic Mark Cuban said he'd sit front-row at Monday's presidential debate, it didn't take long for the debate commission to respond — nor the Republican nominee.
This Bill Could Allow Another Fraud Like Wells Fargo's (Fortune)
The Financial CHOICE Act, a bill that would essentially repeal key protections within the Dodd-Frank Act, was approved by the House Financial Services Committee on Sept. 13.
No Fortune 100 CEOs Back Republican Donald Trump (The Wall Street Journal)
No chief executive at the nation’s 100 largest companies had donated to Republican Donald Trump’s presidential campaign through August, a sharp reversal from 2012, when nearly a third of the CEOs of Fortune 100 companies supported GOP nominee Mitt Romney.
A Week of Whoppers From Donald Trump (NY Times)
All politicians bend the truth to fit their purposes, including Hillary Clinton. But Donald J. Trump has unleashed a blizzard of falsehoods, exaggerations and outright lies in the general election, peppering his speeches, interviews and Twitter posts with untruths so frequent that they can seem flighty or random — even compulsive.
One side effect of the three-ring circus this presidential campaign has become is the distraction it provides so that other damaging agendas can be advanced with little or no attention
Technology
Watch out Tesla: Mercedes-Benz's first fully electric truck could hit the road in 10 years (Business Insider)
Mercedes-Benz is officially entering the trucking industry.
Snapchat launches video-capture sunglasses (The Guardian)
Undeterred by the failure of Google Glass, Snapchat has decided to launch its own pair of glasses that can record video.
The picture and video messaging app is expected to release its Spectacles sunglasses in the US in time for Christmas, priced at about $130 (£100).
China Claims To Have Invented Quantum Radar That Could Render Entire US Stealth Fleet Obsolete (Extreme Tech)
The Chinese military says it has invented quantum radar, a breakthrough which, if true, would render the hundreds of billions of dollars the United States has invested into stealth technology obsolete. Like the original invention of radar, the advent of modern artillery, or radio communications, quantum radar could fundamentally transform the scope and nature of war.
8 Takes on the Rise of AI and Its Implications (Singularity Hub)
In recent years, it's been exciting watching advances in AI like IBM's Watson smashing humans at Jeopardy and Google’s AlphaGo AI beating champions at the game of Go a decade earlier than expected. But the sophisticated algorithms under the hood are really the stars of the show.
Get Ready for Freeways That Ban Human Drivers (Bloomberg)
New rules of the road for robot cars coming out of Washington this week could lead to the eventual extinction of one of the defining archetypes of the past century: the human driver.
Health and Biotech
Living Eye Implant Uses Lab-Grown Cells to Restore Sight (Singularity Hub)
Our eyes are one of our most complex body parts, made up of numerous delicate cell structures that work together seamlessly to allow us to see. Conditions like far-sightedness, glaucoma, and cataracts are widespread, and it’s no wonder given the fragile nature of the eye’s many components.
Life on the Home Planet
Reissues Reach Record As Elvis, Beatles, Led Zeppelin, Pink Floyd Join 2016 Bandwagon (Forbes)
The Beatles and Led Zeppelin are storming back into the charts this week. They are will be followed by Pink Floyd, Depeche Mode and Oasis. The phenomenon isn’t just British. The late Elvis Presley, Miles Davis and Lou Reed are all joining in.
A ‘game-changer in the search for aliens’: China switches on world’s biggest telescope (The Telegraph)
If the truth is out there, then China is determined to find it with a radio telescope launched on Sunday that astronomers have branded a “game changer” in the search for alien life forms.
The Hubble image that forever changed astronomy (Holy Kaw)
The Hubble telescope, launched in 1990, was trying to rebuild its reputation after a mirror flaw sent back fuzzy images for three years.
Then, in 1995, it pointed its camera and snapped the Hubble Deep Field image, and captured the history of the universe.
Life in academic poverty as an underpaid university teacher: “They just don’t want to pay” (Alternet)
“What is education?” Ruth Wangerin asks me, when I Skype the sociology professor at her home in New York. “Is education a good for its own sake? Is it a process of weeding people out? Or is the student a customer paying for certification and the adjunct is there to train them?”
Canadian town steams over Nestlé bid to control local spring water well (The Guardian)
A small town in Ontario, Canada, has prompted fresh scrutiny of the bottled-water industry after its attempt secure a long-term water supply through the purchase of a well was outbid by the food and drinks multinational Nestlé.
The Pot Sommelier: Weed Next to Wine at the Dinner Table (Bloomberg)
To your left, a fork and a wineglass. To your right, a pipe for your pot.
The pipe, with lighter and ashtray, are yours to keep at the end of a meal catered by Cultivating Spirits, which pairs dishes with wines and—it promises—just the right kind of cannabis.
As Charlotte protests hit fourth day, other cities begin marching in solidarity (Think Progress)
Charlotte, North Carolina entered a fourth day of peaceful protests Friday night, sparking solidarity demonstrations in other parts of the country as people continue to express outrage over the killing of Keith Lamont Scott, a black man, who was shot dead by police earlier this week.
