Hong Kong

Harvard Is 'Billionaire-Making' University

To date, a total of 35 of the richest 500 people in the world have emerged from the storied halls of Harvard. In fact, more billionaires have graduated from Harvard than all of those hailing from Saudi Arabia and Spain combined.

Mad As Hell

Why the electorate is so pissed off...

"China's Next Time Bomb" - A Look Inside The Insane World Of China's Bitcoin Traders

Ding Wen, 34, had built up a personal fortune of more than two million yuan after years of hard work at an internet company in Nanjing. But he saw most of that wealth go up in smoke on January 5, when China’s bitcoin market crashed, sending the price of the virtual currency plunging 40% in just a few hours after lunch. Welcome to the insane world of China's bitcoin traders.

Frontrunning: January 11

  • Russia likely main topic in Trump's first news conference since election (Reuters)
  • Russia Denies Report It Has Compromising Material on Trump (BBG)
  • For Russia, U.S. election meddling claims strip Trump win of luster (Reuters)
  • Obama Urges Unity in Farewell Speech (WSJ)
  • 1930s-like Demographic Pressures Holding Back U.S. Economy (BBG)

Frontrunning: January 10

  • Immigration in focus as U.S. Senate confronts Trump nominees (Reuters)
  • Jeff Sessions to Be Grilled on Race in First of Hearings (WSJ)
  • Libya Ramps Up Oil Production, Threatening OPEC Plans (WSJ)
  • Valeant to sell assets for $2.12 billion to ease debt load (Reuters)
  • Industry Lobbyists Champ at the Bit, Awaiting Business-Friendly Policies (WSJ)
  • Yahoo to be named Altaba, Mayer to leave board after Verizon deal (Reuters)

Party Like The Dow Is 19,999: US Futures Dip As Global Currencies Stumble; Oil Down, Gold Up

European, Asian stocks fall and U.S. equity-index futures traded mixed on Monday with fresh memories of the Dow Jones rising to under 1 point of 20,000 on Friday. The dollar has rebounded on fresh geopolitical concerns, while the pound extends its decline from Friday and has slide to 10 week lows on a Sunday interview from Theresa May which suggested a "Hard Brexit" may be in the cards.

US Futures Flat Ahead Of December Payrolls; Dollar Rebounds

European shares fell modestly, Asian equities declined for the first day in three, and US equity futures were unchanged before the December U.S. nonfarm payrolls report. China’s offshore yuan fell the most in a year to pare a record weekly rally, while Mexico’s peso climbed after the central bank sold dollars. Oil was trading lower in early trading.

Offshore Yuan Soars Most In One Year On Fears Of Capital Controls

Following last night's trial ballon by the PBOC, when the PBOC hinted it was studying possible scenarios of capital outflows and is preparing contingency plans, the Offshore Yuan reacted accordingly, and soared by 0.9% to as high as 6.8950 per dollar as of 7:20pm in Hong Kong. That was the biggest increase on a closing basis since Jan. 11 last year.