Breaking News, Page 1

Older >

Fed Accepts Zion Capital Plans, Details Not Disclosed

Zions will likely have to raise $300 million or more in common equity, in addition to selling CDOsZions Bancorporation (NASDAQ:ZION) is up 1.8% in trading today after the Federal Reserve announced that it had accepted the bank’s re-submitted...



Gruber: "It Was Just a Mistake"

Why did Jonathan Gruber tell an audience in 2012 that states which failed to set up Obamacare exchanges would be depriving their residents of federal subsidies? Jonathan Cohn caught up with Gruber this morning and got an answer: I honestly...



Sheila Bair is worried about reverse repo

Like much of her commentary, I find this considerably overstated.  Still, it suggests a few points of interest and also concern: The mere existence of this facility could exacerbate liquidity runs during times of market stress. Borrowers in the...



Hot Links: Alpha move, bro.

Stuff I’m Reading this Morning… Euphoria? I don’t think so – watch as the number of bulls drops as the market goes up!  (Bespoke) Main Street still doesn’t give a f*** about stocks....



I Still Don’t Get Foom

Back in 2008 my ex-co-blogger Eliezer Yudkowsky and I discussed his “AI foom” concept, a discussion that we recently spun off into a book. I’ve heard for a while that Nick Bostrom has been working on a book elaborating related ideas,...



Jason Karp Hates MannKind Corporation (MNKD), Likes NCR Corporation, Ctrip.com International, Ltd. (ADR) (CTRP)

According to CNBC, Tourbillon Capital’s Jason Karp is betting on a decline of MannKind Corporation (NASDAQ:MNKD) shares. “Only in a frothy, retail-driven (and now Tweet-driven) market can a stock like MannKind exist with a $4.3...



Banco Espirito Santo Patriarch & Former CEO Arrested in Portugal

Despite the mountain of negative news, do hedge funds think all the blood is in the street on this stock? The problems at Banco Espirito Santo SA (ELI:BES) may be deeper than originally thought with the detention of Ricardo Espirto Santo Salgado,...



Hot Links: Owning the Robots

Stuff I’m Reading this Morning… Facebook blew away Wall Street last night, everyone’s impressed with the company’s momentum.  (BusinessInsider) Ford beats.  (USAToday) Caterpillar beats too....



You Might Think A Fox-Time Warner Deal Just Isn't Going To Happen...

Fox is only prepared to raise its offer for Time Warner to $90-$95 per share, sources familiar with Fox's thinking told the Wall Street Journal this week. Fox is also not willing to significantly increase the cash percentage of its offer, the same...



This Eye-Popping Chart Of Ex-US Companies Shows Why People Are Freaking Out About 'Tax Inversions' (ABBV, GILD, AZN, PFE, MDT, COV)

We keep hearing about "tax inversions."  A tax inversion is a corporate merger strategy that involves a company based in one country, say the U.S., acquires another company based somewhere else, say the U.K., and following the deal...



White House to Begin $10 Billion Farm Investment Fund

The fund will be managed by Capitol Peak Asset Management and the Agriculture Department will help find projects for...



10 Thursday PM Reads

My afternoon train reads: • Eddie’s deep dive into explaining gold prices. (Crossing Wall Street) • Hot ETF sellers give distribution its due (FT) • Boring Is Good (Millennial Invest) • How to Build Expertise: Lessons From...



Calpers Pulls Back From Hedge Funds

The largest public pension fund in the U.S. is expected to cut its hedge-fund investments this year by 40%. Other public pensions also are cutting or reconsidering investments in hedge...



John Malone Says Fox Not Likely To See Competing Bid For Time Warner

John Malone says he won't retire, but he will eventually cede voting control of his companies to trustworthy peopleChairman of the Liberty Media Corp (NASDAQ:LMCA) (NASDAQ:LMCB) empire John Malone agreed to be interviewed by the Wall Street...



Let’s consider the big picture

The Obama administration favors extending unemployment benefits from the normal 26 weeks to an “emergency” level of 73 weeks maximum.  You might wonder if that makes sense right now. After all, some bloggers are claiming that we...



Cynthia Lummis Warns People Will 'Take Matters Into Their Own Hands' Over IRS Scandal

WASHINGTON -- A Republican member of the House Oversight and Government Reform Committee warned Wednesday that Americans would "take matters into their own hands" if Congress doesn't keep investigating the IRS's handling of tax-exempt...



General Motors Recalls 700,000+ More Vehicles

Shares of GM slumped by less than 1% in afternoon tradingIt seems General Motors Company (NYSE:GM) just can’t get past all the recalls. Today the automaker has announced six more recalls covering almost 718,000 vehicles in the U.S. Details on...



Chart of the Day: Oil Is Getting Harder and Harder to Find

Oil expert James Hamilton has an interesting summary of the current world oil market up today, and it's worth a read. His bottom line, however, is that $100-per-barrel oil is here to stay: The run-up of oil prices over the last decade resulted...



Berkshire Hathaway And Understanding The Insurance Float

Understanding Insurance Float by David Merkel, CFA of The Aleph Blog Warren Buffett has made such an impression on value investors and insurance investors, that they think that float is magic.  Write insurance, gain float, invest cleverly against...



Inflation: Another "False Alarm"?

From Gavyn Davies at the Financial Times: Another false alarm on US inflation? There have been a few false alarms about a possible upsurge in inflation in the US in the past few years, even as core inflation on most measures has remained extremely...



Halbig said it was applying the law as written. Don’t believe it.

In the Wall Street Journal this morning, Jonathan Adler and Michael Cannon, the two principal architects of the exchange litigation, have an op-ed about Halbig and King. They write that “[t]he president’s defenders often concede that he is...



SQL injection flaw in Wall Street Journal database led to breach

A vulnerability in a web-based graphics system led to a breach of The Wall Street Journal’s network by a hacker, the newspaper acknowledged late Tuesday.The system was taken offline, and the intrusion did not affect customers or customers’...



Too Many Millennials Chickened Out Of The Stock Market, And Now Their Retirement Plans Are In Trouble

The stock market is up 17% in the last year and up a whopping 197% since its March 2009 low. Unfortunately, far too many young people haven't participated in this rally, and unfortunately, this may be detrimental to their futures. According to a new...



Whitney Tilson now 12 percentage points more confident in Herbalife short

Judging by the share price reaction to his Herbalife presentation, Bill Ackman delivered a “death blow” not to the company but to many investors who followed him in shorting the stock. Not so Whitney Tilson, Buffett-watcher, value...



The Conservative Ruling Against Obamacare Is Legally Laughable

Yesterday saw the release of two conflicting court decisions that may decide the future of the Affordable Care Act. Both decisions, from the D.C. and Fourth Circuit federal courts of appeals,...



Breaking News, Page 1

Older >

2 hours | 12 hours | 24 hours | 30 days

Sheila Bair is worried about reverse repo

Like much of her commentary, I find this considerably overstated.  Still, it suggests a few points of interest and also concern: The mere existence of this facility could exacerbate liquidity runs during times of market stress. Borrowers in the...



Fed Accepts Zion Capital Plans, Details Not Disclosed

Zions will likely have to raise $300 million or more in common equity, in addition to selling CDOsZions Bancorporation (NASDAQ:ZION) is up 1.8% in trading today after the Federal Reserve announced that it had accepted the bank’s re-submitted...



A Billionaire Mathematician’s Life of Ferocious Curiosity

.@NYTimes Profile of Renaissance Technologies James H. Simons http://t.co/FXqCv18bIN — Risk Management (@Risk_Mgmt) July 9,...



Gruber: "It Was Just a Mistake"

Why did Jonathan Gruber tell an audience in 2012 that states which failed to set up Obamacare exchanges would be depriving their residents of federal subsidies? Jonathan Cohn caught up with Gruber this morning and got an answer: I honestly...



Report: Japanese Messaging App Line to Launch $10 Billion IPO

Line, the Japanese company famous for its popular messaging app, filed for an IPO in the $10 billion range, according to a report. CNBC and Reuters report that the company, owned by South Korea's Naver Corp., filed for the public offering about two...



10 Thursday PM Reads

My afternoon train reads: • Eddie’s deep dive into explaining gold prices. (Crossing Wall Street) • Hot ETF sellers give distribution its due (FT) • Boring Is Good (Millennial Invest) • How to Build Expertise: Lessons From...



Hot Links: Reverse Robin Hood

Stuff I’m Reading this Morning… That on-air blowup I was involved with went mega-viral.  (BusinessInsider) and (TIME) and (Vox) and (Barrons) and (MarketWatch) JPMorgan’s earnings report sucks.  (WSJ) But...



HTC Swings to Profit on New Flagship Phone, Cost Cutting

New flagship and midrange phones, cost cutting and disposal of assets helped HTC swing back to a profit in the second quarter, but revenue barely met the company's guidance, showing it is still struggling to match sales with Samsung and low-cost...



The Switchboard: Sprint, T-Mobile could join forces to bid for broadcaster spectrum

Published every weekday, the Switchboard is your morning helping of hand-picked stories from The Switch team. House votes to save bans on city Internet service. "Rep. Marsha Blackburn, a Tennessee Republican, spearheaded the amendment that...



Is Inflation Coming?

Joe Weisenthal at Business Insider writes: These Three Charts Show Inflation Is Finally Right Around The CornerAfter this week's strong Jobs Report, it's becoming conventional wisdom that the economy is heating up for real this time. After...



Tuesday: Yellen, Retail Sales, NY Fed Mfg Survey

It is dry in California, from CBS: California Gears Up To Vote On Water Wasting Law TuesdayThe State Water Resources Control Board is set to vote Tuesday on tough new rules that would allow any public employee empowered to enforce laws to write tickets...



New Tool from Atlanta Fed: GDPNow

The Atlanta Fed has introduced a nowcast of GDP called GDPNow. The model mimics the BEA's methods to estimate GDP and is updated five to six times a month as data is released. The model tends to converge to the BEA estimate just before the BEA...



DoJ Near Big Settlement With Citigroup Inc: WSJ

All eyes will be on the settlement amount to determine if the DoJ flinched to political pressure, as their tough talk could set a precedent for future negotiations The US Justice Department and Citigroup Inc (NYSE:C) have closed the gap in the bid-ask...



Blog Post: TheAlephBlog: Book Review: The Secret Club that Runs the World

This is a very good book; I learned a lot as I read it, and you will too.read...



A quick lesson on market tops

The below chart comes to us from JPMorgan Asset Management’s Q3 Guide to the Markets slide presentation… A few things should jump out at you… First, this stock market recovery has now just about lapped the one that followed...



BNP to pay $9 billion fine, faces dollar-clearing ban

NEW YORK/WASHINGTON (Reuters) - French bank BNP Paribas on Monday agreed to pay almost $9 billion over charges it violated U.S. sanctions against countries such as Sudan, and faces a one-year suspension of parts of its U.S. dollar-clearing business. ...



The Conservative Ruling Against Obamacare Is Legally Laughable

Yesterday saw the release of two conflicting court decisions that may decide the future of the Affordable Care Act. Both decisions, from the D.C. and Fourth Circuit federal courts of appeals,...



American Apparel Inc Spikes On Reports Of Funding Talks

Shares of American Apparel climbed as much as 7% American Apparel Inc (NYSEMKT:APP) is reportedly talking with its largest shareholder, Standard General, about financing to pay off a loan that has come due and also replace its board members....



The Missing Piece Of The Housing Recovery

After an unusually chilly winter froze sales activity in the U.S. housing market, existing and new home sales rebounded sharply. However, applications for mortgages continue to decline. During the week ending June 27, the MBA mortgage applications index...