EU expected to fine GOOGLE record $5 billion over antitrust abuse

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The case relates to the dominance of Google’s Android operating system, which is one of the world’s most popular mobile software systems. The EU has scrutinized that dominance, arguing that Google should look to make competition fairer and allow smaller players in the market to flourish. European Union regulators will slap Alphabet-owned Google with a $5 billion antitrust fine … Read more

Fed Speaks = Another Top?

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by SpontaneousDisorder Just thought I’d put this here as an update to a previous post I did. Jerome Powell has testified to congress and the market got excited again. The previous post I made was when the Fed had a meeting and that timed a short term top. The Nasdaq and S&P are bit higher, the … Read more

#JOURNALISM: WRONG: Reporter Deletes Tweet Claiming Russian Spy Was in Oval Office with Trump.

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#JOURNALISM: WRONG: Reporter Deletes Tweet Claiming Russian Spy Was in Oval Office with Trump. Talk about getting it wrong. There are mistakes, and then there are mistakes, and this is the latter. On Monday, a woman, Maria Butina, was arrested and charged, federal agents saying she worked as a “foreign agent” who conspired to set up private communications … Read more

Senators: Your Smart TV Might Be Spying On You

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by stockboardasset It has been almost 70 years since George Orwell’s dystopian novel Nineteen Eighty-Four was published, but now, some of his forward-looking warnings are starting to be realized in 2018. Take this stunning letter from Senators Edward Markey, D-Mass., and Richard Blumenthal, D-Conn., who told the Federal Trade Commission (FTC) Chairman Joseph Simmons last Thursday that internet-connected … Read more

The United States has spent at least $2.8 trillion on counterterrorism since 9/11 – The task still consumes a sixth of America’s annual discretionary spending

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The United States has spent a lot of money on counterterrorism since the 9/11 attacks. But nobody has been keeping good track of just how much, until now. A bipartisan group of national security and budget experts convened by the Stimson Center estimated in a new report on May 16 that the cumulative tally is … Read more

Omnicom’s organic growth misses estimates as U.S. clients curb spending

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by dying_to_be_vain As the Reuters’ headline says, Omnicom’s organic growth misses estimates as U.S. clients curb spending. Omnicom reported a 2 percent rise in organic revenue – a closely watched measure that excludes foreign exchange rate changes and mergers. Analysts, on average, had expected a 2.3 percent rise, according to research firm FactSet. New York-based Omnicom has … Read more

“Conditional Non-Objection”: Even Banks That Fail Their Stress Test, Pass Their Stress Test

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via americanbanker: hen Federal Reserve Chairman Jerome Powell faces lawmakers this week, one big question will almost certainly be: Is the central bank playing favorites among the big banks? Sens. Elizabeth Warren, D-Mass., and Sherrod Brown, D-Ohio, ranking member on the Banking Committee, criticized the agency for its latest round of stress test results earlier this … Read more

Consumer Spending Growth Falls to 4.5-Year Low, but Personal Income Still Lags

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via businesscycle: Stealth Slowdown Unfolding Wall Street is too optimistic on the economy, veteran forecaster warns from CNBC.   As the chart shows, real personal income and consumer spending growth are both in cyclical downturns. Contrary to the notion of a “strengthening” economy, consumer spending growth has fallen to a 4 ¼-year low, as personal income growth continues to undershoot … Read more