Following media machinations over his donations to Veterans, Donald Trump struck back today in a press conference, raging that the liberal media "should be ashamed," and singling out ABC's Tom Llamas as a "sleaze." The Donald then turned the microphone over briefly to Al Baldasaro, a veteran from New Hampshire who skewered the news media, saying reporters should ''get your head out of your butt - focus on the real issues...stop using veterans as political pawns."
After yesterday's US and UK market holidays which resulted in a session of unchanged global stocks, US futures are largely where they left off Friday, up fractionally, and just under 2,100. Bonds fell as the Federal Reserve moves closer to raising interest rates amid signs inflation is picking up. Oil headed for its longest run of monthly gains in five years, while stocks declined in Europe.
Vowing to intensify their action to overturn an unpopular labor law, striking French union workers have already left hundreds of thousands of tourists stranded, gas stations empty, and nuclear power plants stretched. However, as low-skilled American workers fall foul of minimum wage blowback, the French parliament - despite Prime Minister Valls insistence that "France must show that it’s capable of reforming" - just passed new legislation making it illegal for your employer to send you an email outside of work hours.
- Oil prices ease from seven-month high to below $49 (Reuters)
- Wall Street Waits for Yellen Before Taking Off for a Long Weekend (BBG)
- Donald Trump Celebrates Clinching GOP Delegate Race (WSJ)
- Trump vows to undo Obama's climate agenda in appeal to oil sector (Reuters)
- Japan Fails in Bid to Have G-7 Warn of Global Crisis Risk (BBG)
- Valeant Rejected Joint Takeover Approach From Takeda, TPG (WSJ)
- Wall Street Crime: 7 Years, 156 Cases and Few Convictions (WSJ)
- Japan's Abe points to 2008 crisis as G7 leaders debate global risk (Reuters)
- Brent Crude Rises Above $50 a Barrel (WSJ)
- New York financial regulator gearing up to probe online lenders (Reuters)
- At Swinging Wall Street Parties, the Feds Are Now on the Prowl (BBG)
Enthusiasts believe that shale gas is simultaneously cheap, abundant and profitable thus defying all rules of business and economics. That is magical thinking.
- Oil nudges $50 a barrel as investors bet on shrinking overhang (Reuters)
- From hinterland to wonderland: China's 'teapot' refinery boomtowns (Reuters)
- Peter Thiel Has Been Secretly Funding Hulk Hogan's Lawsuits Against Gawker (Forbes)
- China Wants to Set Prices for the World's Commodities (BBG)
- Big Banks Ladle On the Risk (WSJ)
- China Said to Plan Asking U.S. on Timing of Fed Rate Hike (BBG)
"Hedge fund portfolio density rose to record levels in March, exceeding even the Financial Crisis highs. Hedge fund returns continue to grow more dependent on the performance of a few key stocks. The typical hedge fund has 68% of its long-equity assets invested in its 10 largest positions."
French investigators are raiding Google's (GOOGL.O) Paris headquarters as part of a probe over tax payments, a source close to the finance ministry told Reuters on Tuesday. Investigators have been probing Google's offices in central Paris since 0500 am (0300 GMT), said the source, who declined to be named.
Yesterday's weak dollar headfake has ended and overnight the USD rallied, while Asian stocks dropped to the lowest level in 7 weeks and crude oil fell as speculation returned that the Federal Reserve will raise interest rates as early as next month. The pound jumped and European stocks gained thanks to a weaker EUR.
"Everyday we read headlines on what the central banks are doing. But their policies don’t have any effect. They are just like treading water. All the central banks are doing is substituting one form of debt with another form of debt... I think it means the business of central banks is like pornography: It’s not the real thing."
"I worked at The CIA. I wrote the Emergency Destruction Plan for Geneva. When CIA destroys something, it's never a mistake..."
The United Nations Security Council wants a global “framework” for censoring the Internet, as well as for using government propaganda to “counter” what its apparatchiks call “online propaganda,” “hateful ideologies,” and “digital terrorism.” To that end, the UN Security Council this week ordered the UN “Counter-Terrorism Committee” — yes, that is a real bureaucracy — to draw up a plan by next year. From the Obama administration to the brutal Communist Chinese regime, everybody agreed that it was time for a UN-led crackdown on freedom of speech and thought online — all under the guise of fighting the transparently bogus terror war.
Just as we cautioned those who saw the best cities for jobs data, we again warn everyone who reviews the highest paying companies data that now may not be the best time to pick up and head out to the West Coast in hopes of landing that dream tech job.
What happens when a system designed to sell to the "greater fool" runs out of fools?