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SoftBank backed Uber in early 2018, buying shares from existing investors for $48.77 a piece and purchasing new shares at just under $33. On Tuesday, Uber fell to a record low, closing at $30.70 a share, and leaving SoftBank deeper in the red. Because of a review by the U.S. Treasury Department, SoftBank still doesn’t … Read more
Norway’s wealth fund proposed overhauling its global holdings, calling for a shift away from Europe in a move that would allow it to boost its U.S. stock investments by as much $100 billion and take a larger chunk of the biggest technology companies. In a letter sent to the Finance Ministry released on Tuesday, the $1 trillion … Read more
https://www.cnbc.com/2019/09/05/china-and-us-agree-to-meet-in-october-for-trade-negotiations-chinese-state-media.html BEIJING — China’s Ministry of Commerce said Thursday that the leaders of the U.S. and Chinese trade talks held a phone call in the morning and agreed to meet in early October for another round of negotiations. Liu He, China’s top negotiator on trade, spoke with U.S. Trade Representative Robert Lighthizer and Treasury Secretary … Read more
via Zerohedge: After years of radio silence, Dr. Michael Burry – the small-time stockpicker who rose to fame for his bets against subprime mortgage bonds featured in the book (and later film) “the Big Short” – is once again doing the media rounds, talking about his latest equity plays and sharing his thoughts about the next big … Read more
https://www.youtube.com/watch?v=GO8wJ5yjztQ Prime Minister Narendra Modi of India and Russian President Vladimir Putin have announced plans to conduct their countries’ rapidly accelerating bilateral trade in national currencies (rupees and rubles) instead of the US dollar, which remains the world’s reserve currency. “Boom Bust” co-host Christy Ai joins News.Views.Hughes to discuss the details.
by Charles Hugh-Smith Any domino-like expanding crisis will unfold in a status quo lacking any coherent response. Longtime readers know I’ve often referenced The Fourth Turning, the book that makes the case for an 80-year cycle of existential crisis in U.S. history. The first crisis was the constitutional process (1781) following the end of the Revolutionary War, … Read more
via pjmedia: It’s totally understandable that Chicago Mayor Lori Lightfoot is touchy about gun violence in her city. The city is a shooting gallery with citizens little more than clay pigeons. Last weekend was a typical holiday weekend in Chicago: 7 dead, 41 shot. Lightfoot’s answer to the violence? More gun control, of course. Senator Ted Cruz … Read more
via thefederalist: In other words, Penn admitted the entire point of his reporting was to get a Trump appointee fired. In the article, Penn explained that Olson was part of the administration’s efforts to draft wage-hour regulations, which, one assumes, Penn opposes on ideological grounds. That’s probably why Penn was combing through Olson’s Facebook history in … Read more
Its been the talk for 2 months. Its being expected. The market will be breathing down thier necks waiting for that hit of easy money. If those monitoring are right, we will see the long end of the curve drop respectively https://www.ccn.com/dow-jones-analysis-9-4-2019/ https://www.cnbc.com/2019/09/04/feds-bullard-says-aggressive-step-is-needed-to-align-fed-with-markets-insure-against-trade-war.html 2 articles for your time h/t mr. jingles
It says something when you have “all 10 countries” from ASEAN joining these drills. First US-ASEAN joint maritime drills kick off as Washington beefs up presence in South China Sea The United States and 10 Southeast Asian nations were set to kick off joint maritime naval exercises Monday, including drills in the disputed South China … Read more
by The Phoenix With this morning’s breakout, stocks (blue line) have finally moved to within spitting distance of their upside target as predicted by the credit markets (black line). Now comes the nasty part. China’s stock market has already shown us where things are heading. The Trade War is only going to worsen. And US markets … Read more
Alan Greenspan says it’s ‘only a matter of time’ before negative rates spread to the US “You’re seeing it pretty much throughout the world. It’s only a matter of time before it’s more in the United States,” Alan Greenspan says. There is currently more than $16 trillion in negative yielding debt around the world as … Read more
Google’s YouTube to pay $170 million penalty for collecting data on kids WASHINGTON (Reuters) – Google, which is owned by Alphabet Inc (GOOGL.O), and its YouTube video service will pay $170 million to settle allegations that it broke federal law by collecting personal information about children, the Federal Trade Commission said on Wednesday. YouTube had … Read more
Forget the titanium Apple Card — Amazon’s latest payment method uses flesh and blood. The e-tailing giant’s engineers are quietly testing scanners that can identify an individual human hand as a way to ring up a store purchase, with the goal of rolling them out at its Whole Foods supermarket chain in the coming months, … Read more
Between the traffic and the expenses associated with having a car, driving is a necessary hassle for many people. A recent study confirmed what many in New Jersey and New York hold to be true – driving is a major headache. WalletHub took a look at the 100 largest cities in the country across 30 … Read more
Rep. Bill Flores becomes 15th House Republican to announce plans to exit chamber WASHINGTON – Rep. Bill Flores, R-Texas, on Wednesday became the latest House Republican to announce plans to retire at the end of his current term, saying he wants to spend more time with his family and resume private-sector business activities. “After much … Read more
TRUMP ADMINISTRATION CONSIDERING SOCIAL CREDIT SCORE SYSTEM TO DETERMINE WHO CAN BUY A GUN White House considers new project seeking links between mental health and violent behavior https://t.co/EhrsWcgfyw — The Washington Post (@washingtonpost) August 22, 2019 The Trump administration is considering launching a social credit score-style system in coordination with Big Tech that would use … Read more
via tomluongo: Germany held the first two of three important state elections over the weekend. And the results were striking. Leading up to the elections polls had the current opposition party in the Bundestag, Alternative for Germany (AfD), neck and neck with the ruling parties in both Saxony and Brandenburg. Chancellor Angela Merkel’s ruling coalition was battered … Read more
by Martin Armstrong IRS: Hello; This is the IRS helpline. What is your problem? Obviously, you owe us money or you would not be calling. CITIZEN: Can you explain why I owe you money? IRS: Its called taxes. CITIZEN: Well how much do I owe? IRS: That is your job to figure it out. CITIZEN: … Read more
by damien008 Ever wondered how Zillow/Trulia works? Its a simple website aggregator that gets 95% of its data from the local MLS (Multiple Listing Service Listings) and rest from direct postings. They sell overpriced ads that most agents do buy because they simply dont work and have crappy ROI. They basically sell ads to the … Read more