Financial Markets and Economy
Dow Industrials ETF Raked in More Cash Than Any Other ETF Last Week (The Wall Street Journal)
Investors aren’t giving up on Dow 20000. The SPDR Dow Jones Industrial Average ETF, ticker DIA, pulled in $811 million in new money over the past week, more than every one of the nearly 2,000 exchange-traded products on the market, according to data provider XTF.
The Rising Risk of Central Bank Instability (Bloomberg)
Separate comments last week from European Central Bank President Mario Draghi and Federal Reserve Chair Janet Yellen confirmed an ongoing change in the policy configuration facing their two systemically important central banks: The recognition of a transition in both economic conditions and prospects, along with questions about robustness and durability.
A Rude Awakening for Blockchain's Dreamers (Bloomberg)
The finance world's attempt to build a white-collar version of blockchain — the shared-ledger technology that underpins rebellious virtual currencies such as Bitcoin — has generated Silicon Valley quantities of buzz.
Gallo: Trump Inherits Good Economy, Unbalanced Recovery (Bloomberg)
Alberto Gallo, head of macro strategies at Algebris Investments, discusses the state of the U.S. economy as President Donald Trump takes office and the potential positive and negative aspects of Trump's policies.
Why Attacking Free Trade Is Great Politics and Bad Economics (Fortune)
If Donald Trump cracks down on trade, he will not be the first politician to fly in the face of economic wisdom, only the loudest. As Dani Rodrik of Harvard said famously, on no other issue do politicians and economists disagree so much as they do on trade.
The $100 Million Settlement That Shows Why Pharma Isn’t Afraid to Behave Badly (Fortune)
You'd think that a $100 million fine would be enough to chastise a company for bad behavior. When it comes to certain pharma giants, you'd probably be wrong.
Hedge Fund Assets Pass $3 Trillion in 2016 for First Time: Chart (Bloomberg)
The hedge fund industry ended 2016 with $3.02 trillion in global assets under management, surpassing the $3 trillion mark for the first time as performance gains offset net withdrawals, according to data released by Hedge Fund Research Inc. on Friday.
3 Incredibly Cheap High-Yield Dividend Stocks (Fool.com)
While investors often do pay a premium price for stocks that boast high dividend yields, that's not always the case. In fact, three healthcare stocks with attractive yields are incredibly cheap right now.
At midday: Energy stocks lead broad TSX decline (Reuters)
Canada’s main stock index fell on Monday as energy companies retreated along with lower oil prices, while mining shares bucked a broadly weaker trend on higher metal prices.
Hong Kong Retains Title of World’s Costliest Home Market (Bloomberg)
Hong Kong retained its rank as the most expensive housing market among 406 major metropolitan regions in the annual Demographia International Housing Affordability Survey for the seventh year in a row.
Trump's Plans for Spending Spook Foreign Bond Buyers (Bloomberg)
For most of the past decade, through all the fits and starts in economic growth, the increases in the U.S.'s debt load and worries over whether zero interest rates were fueling market bubbles, foreign central banks, sovereign wealth funds and other official institutions couldn't get enough of America's bonds.
Companies
Here’s Another Way Wells Fargo Took Advantage Of Customers (Value Walk)
Wells Fargo, the largest mortgage lender in the country, portrays itself as a stalwart bank that puts customers first. That reputation shattered in September, when it was fined $185 million for illegally opening as many as 2 million deposit and credit-card accounts without customers’ knowledge.
Japan's airliner of the future just announced some bad news (Business Insider)
Japan's next generation Mitsubishi Regional Jet (MRJ) has been delayed once again.
On January 23, Mitsubishi Aircraft Corporation (MAC) announced that delivery of the first production MRJ has been pushed back two years from mid-2018 to mid-2020.
Qualcomm plunges 12% on word of Apple's $1 billion lawsuit (QCOM, AAPL) (Business Insider)
Qualcomm is down 12.63% at $54.95 a share following word that Apple is suing the company for $1 billion.
Apple announced last Friday that it is suing Qualcomm, according to a lawsuit filed in federal court seen by Business Insider.
Herbalife Expose Will Hit Theaters in March (Bloomberg)
“Betting on Zero,” a documentary film that chronicles alleged victims of Herbalife Ltd., will hit U.S. theaters in less than two months, bringing a fresh challenge to a company that just announced a new federal investigation.
More Crony Capitalism: Aetna Gives An Ultimatum To The DOJ – "If Humana Deal Is Blocked, We Exit Obamacare" (Zero Hedge)
US health insurer Aetna already made waves earlier this week when it announced on Monday that it would exit 11 of 15 state exchanges in which it offers Obamacare plans as a result of mushrooming financial losses.
Federal Judge Blocks Aetna-Humana Merger on Antitrust Grounds (The Wall Street Journal)
A federal judge Monday blocked the proposed merger of health insurers Aetna Inc. and Humana Inc. on antitrust grounds, a potentially fatal blow to the $34 billion deal and a capstone victory for Justice Department antitrust officials under former President Barack Obama.
Alphabet Shares Could Top $1,000 in Year, Barron’s Says (Barron's Next)
Google’s parent Alphabet is on track for a big year, Barron’s says. A continued shift to digital advertising, plus a big push in the public cloud could push Alphabet shares over $1,000 sometime in the next 12 months, Barron’s writes in its latest issue. That’s a gain of 20% from the current price.
Has Gilead Sciences' Cash Cow Finally Hit Bottom? (Fool.com)
After a massive price ramp-up, Gilead Sciences(NASDAQ: GILD) hit the skids through most of 2015 and 2016 as its hepatitis C, or HCV, portfolio reported falling sales.
Gilead Sciences: The Foggy Crystal Ball (Barron's)
Gilead Sciences (GILD) reports earnings on Feb. 7–which means that analysts everywhere are trying to predict what its numbers and guidance might look like.
Citigroup Says This Time It’s Different for Europe Profit Growth (Bloomberg)
Equity strategists are yet again predicting that this will finally be the year European profits deliver.
This time, it’s Citigroup Inc.’s Jonathan Stubbs forecasting the region’s earnings will jump at least 10 percent to end a three-year dry spell.
Disinformation with a Silicon Valley ethos (Columbia Journalism Review)
Set aside for a moment concerns that the Russians are undermining our democracy, and let’s pause to admire their handiwork. Seen through a Silicon Valley optic, they are remarkable media innovators.
Wal-Mart Raises the Stakes in E-commerce Arms Race With Amazon (Fool.com)
If Wal-Mart (NYSE: WMT) stands any chance of going head to head withAmazon (NASDAQ: AMZN), it'll have to use its physical store locations to its advantage.
Technology
Tesla just began rolling out its new and improved Autopilot — here's what you need to know (Business Insider)
Tesla CEO Elon Musk announced over the weekend that new and improved Autopilot features were rolling out to all vehicles equipped with Tesla's second-generation hardware suite, which the automaker began installing in cars in October.
Xiaomi executive Barra, who drove smartphone maker's global push, steps down (Reuters)
Hugo Barra, the most prominent global executive at China's Xiaomi Inc [XTC.UL], has left the smartphone maker citing health concerns and a new job, dealing a fresh setback to a firm that is struggling to recover ground ceded to rivals.
Here Are the Most Damning Parts of Apple's Blockbuster Lawsuit Against Qualcomm (Fool.com)
After years of "forced" exclusivity, Apple finally added another baseband supplier in the iPhone 7. Image source: Apple.
LG G6 photo shows off some rounded corners (Engadget)
We've already learned a lot about LG's next mobile standard-bearer, but a picture posted by The Verge provides a look at the G6 — well, half of it anyway.
Politics
Donald Trump, His Children, and 500+ Potential Conflicts of Interest (The Wall Street Journal)
DOW JONES, (A NEWS CORP COMPANY) News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services.
‘Alternative Facts’ and the Costs of Trump-Branded Reality (NY Times)
When Donald J. Trump swore the presidential oath on Friday, he assumed responsibility not only for the levers of government but also for one of the United States’ most valuable assets, battered though it may be: its credibility.
China orders more than 100 golf courses shut: govt (AFP)
China has ordered the closure of a sixth of the country's golf courses since 2011, its top economic planner said, in an ongoing crackdown on a sport controversial for its links with wealthy elites.
Congress hasn’t come for PBS…yet. Trump transition team’s plans guarantee that it will (Salon)
When PBS president and CEO Paula Kerger was asked at a press conference held last Sunday what she was expecting from Donald Trump’s administration, she replied, “It’s really too early to tell.”
Why Kentucky Couldn’t Kill Obamacare: A Lesson for Congress (Bloomberg)
As congressional Republicans meet this week to gut Barack Obama’s signature health-care law, they can look for guidance to Kentucky, where a big political promise met with reality to force the type of compromise national lawmakers might face.
Disturbed Man Gets Past White House Security, Gives Press Conference (The New Yorker)
A man who was described as “visibly deranged” eluded the Secret Service on Saturday and gave a five-minute press conference at the White House.
Welcome to Trump’s America: Felony riot charges against inauguration protesters signal alarming wave of repressionMore than 200 people who were mass-arrested at the Washington, D.C. protests against the inauguration of Donald Trump have been hit with felony riot charges that are punishable by up to 10 years in prison. Those picked up in the sweep — including legal observers and journalists — had their phones, cameras and other personal belongings confiscated as evidence, a lawyer confirmed to AlterNet.
Following a colossal protest against Trump, conservatives belittle the protesters (Think Progress)
In the days after millions of Americans protested against Donald Trump’s presidency, Republican officials have settled on a uniform response: Mockery and belittlement.
Washington Post Says Repealing The Affordable Care Act Will Kill More Than 43,000 People Annually (Washington Post)
Now that President Trump is in the Oval Office, thousands of American lives that were previously protected by provisions of the Affordable Care Act are in danger. For more than 30 years, we have studied how death rates are affected by changes in health-care coverage, and we’re convinced that an ACA repeal could cause tens of thousands of deaths annually.
Trump Tells Business Leaders He Wants To Cut Regulations By 75% Or 'Maybe More' (InfoWars)
President Donald Trump told business leaders on Monday he believes he can cut regulations by 75 percent or “maybe more.”
At the White House with 10 senior executives, he repeated his campaign pledges to roll back corporate rules, arguing that they have “gotten out of control.”
California isn’t backing down from the most ambitious climate goal in the country (Think Progress)
On January 20, on the steps of the U.S. Capitol in Washington, D.C., Donald Trump took the oath of office to become the 45th President of the United States. Minutes later, the Trump administration debuted its White House website, scrubbing any mention of climate change, renewable energy, or emissions goals.
Trump Signs 3 Executive Orders: Withdraws From TPP, Freezes Federal Hiring, Limits Overseas Abortion Funding (Zero Hedge)
As we previewed and was widely expected, President Trump has just signed 3 executive orders: one officially withdrawing the US from the Trans Pacific Partnership, a second one instituting a federal hiring freeze except for the military, and a 3rd executive order limiting abortion funding overseas.
Life on the Home Planet
Scientists Estimate More Than Half Of Primates At Risk Of Extinction (InfoWars)
According to Colorado University Boulder professor, human beings have not been doing a good job of taking care of their primate roommates, and now over 60% of them face extinction in the near future.
NASA Just Released 30 Years Of Before And After Images Around The World (Forbes)
NASA recently released a series called the “Images Of Change” which reveal how our world has changed over the past 30 years. The series provides a comparison of satellite images that depict everything from island building to flooding to urbanization.
London Air Pollution 'Very High'; Heavy Fog Disrupts Flights (Associated Press)
Cold, still weather in London prompted the mayor to issue a "very high" air pollution alert for the first time Monday, while thick freezing fog caused numerous flight delays and cancellations at London Heathrow and other area airports.
