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Uber Is Operating At A Half A Billion Dollar Loss, Report Claims

Uber is reportedly losing close to half a billion dollars as the company continues to expand its national and global reach. News of the loss arrives after Bloomberg examined a bond prospectus and found the following information. Uber is reportedly...



NYT Gets It Badly Wrong, Trillions Were "Lent", not "Spent"

The NYT had a bizarre front page article about the limited effectiveness of monetary policy in the euro zone and elsewhere. The headline of the piece refers to "trillions" of dollars being spent by central banks, a line repeated in the first...



The Other Winner in the Supreme Court's Wild Week: Big Business

It's tempting to see the Supreme Court's decisions last week to uphold Obamacare and legalize gay marriage as wildly divergent from its decision on Monday to strike...



Links for 06-30-15

The Awesome Gratuitousness of the Greek Crisis - Paul Krugman The "Hangover Theory" of the Crash Fails - Brad DeLong Quantum mental processes? - Understanding Society A Primer on the Greek Crisis - Anil Kashyap Wage Growth Held Steady...



The Upload: Your tech news briefing for Monday, June 29

Google’s favoring its own services in search results harms consumers, not just competitorsIt’s not just the European Union’s antitrust authorities that don’t like Google’s practice of promoting its own services ahead of...



American Apparel (APP) – Hey Dov Charney…Go Away

Hey Dov Charney...Go Away by Todd Sullivan, ValuePlays In the latest barrage of litigation from disgraced former American Apparel CEO Dov Charney, he now claims Standard CEO Kim essentially began committing hari-kari in front of Charney over their...



Frances Arrests Entrepreneurs for Crime of Innovation. Is it Any Wonder the Economy Sucks?

CEO of Uber France has been arrested because, uh, his competitors have resorted to violence to defend their inferior product.  The fact that the victim rather than the perpetrators of violence is getting arrested speaks volumes to how far...



'The Stimulative Effect of Redistribution'

Bart Hobijn and Alexander Nussbacher in the SF Fed's Economic Letter: The Stimulative Effect of Redistribution, by Bart Hobijn and Alexander Nussbacher: The idea of taking from the rich and giving to the poor goes back long before the legend of...



Grexit Would Be Even More Dangerous than Economists Realize

After months of acrimonious negotiations, and despite a significant rapprochement between their position and their creditors’, the Greek coalition government has unexpectedly stopped negotiation discussions in their tracks, announcing a snap...



Grexit: The staggering cost of central bank dependence

This weekend’s dramatic events saw the ECB capping emergency assistance to Greece. This column argues that the ECB’s decision is the last of a long string of ECB mistakes in this crisis. Beyond triggering Greece’s Eurozone exit –...



Greece Now Has to Decide Whether to Leave the Euro. It's Not a No-Brainer.

Today's news is all about Greece. To make a long story short, the Greeks last week presented the Europeans with an austerity proposal that was pretty much what they had been asking for. But It turned out that "pretty much" wasn't...



Grexit further reading

Elsewhere on Greece: - Time for a fresh start? - How the recovery will look like when Greece leaves the euro. - Europe’s moment of truth leads to Grisis. - What might contagion look like?Continue reading: Grexit further...



Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’

Gov. Alejandro García Padilla said that his administration would probably seek significant concessions from its creditors on a $72 billion debt...



Greece: ECB Freezes Level of Emergency Loans

Some comments from analysts at the Financial Times Alphaville: Greece: bank analysts and eurowatchers on what to expect on MondayThe analysts make good point on Greek banks, and also on the odds of the Greeks voting for more austerity, an...



Europe’s Moment of Truth

Tsipras, rightly, refuses to fall on his...



Greece takes rescue talks to the wire

It's almost crunch time. Euro zone finance ministers are meeting one more time to try and thrash out a deal for...



European Ministers Deny Greek Request to Extend Debt Talks

The ministers’ action came hours after the Greek prime minister called for a referendum on the creditors’...



The Bad Behavior Of Visionary Leaders

The Bad Behavior Of Visionary Leaders by Tony Schwartz, DealBook As I was reading Ashlee Vance’s “Elon Musk: Tesla, Space X and the Quest for a Fantastic Future,” I was alternately awed and disheartened, almost exactly the same...



Links for 06-27-15

Legacy - Paul Krugman Ancestry and culture - Vox EU A Dangerous Combination: Bubbles and Debt - Noah Smith Expanding Health Insurance in 2014: How Much Progress? - Tim...



Wonkblog: The one Supreme Court paragraph on love that gay marriage supporters will never forget

The final paragraph of Justice Anthony Kennedy's opinion holding that couples of the same sex have a constitutional right to wed is a moving and cogent statement of what marriage means.No union is more profound than marriage, for it embodies the...



7 powerful lines from the same-sex marriage decision

The U.S. Supreme Court made history on Friday when it declared state bans on same-sex marriage unconstitutional. Swing vote Justice Anthony Kennedy, who wrote the court's majority opinion, lead the 5-4 ruling. Kennedy — who is known for...



Why Conservatives Should Praise God for the Supreme Court's Gay Marriage Decision

The range of Republican opinion on the Supreme Court’s declaration of a constitutional right to same-sex marriage extends from Mike Huckabee, who wants a constitutional...



Common Sense: If Greece Defaults, Imagine Argentina, but Much Worse

The Greek debt crisis has similarities to Argentina’s default in 2001. But experts say a default would be much worse for...



French Chemical Factory Hit by Terror Attack

A chemical factory in southeastern France was targeted in a suspected terrorist attack, leaving at least one person dead, two police officers...



Facebook Adds Videos Tab to Page Insights

Facebook accommodated the explosion in the popularity of videos posted by pages with the addition of a videos tab to its page insights. Page administrators now have access to aggregate information on views, 30-second views, top videos within a...



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Rupert Murdoch Expected to Hand Reins of 21st Century Fox to Son James

Mr. Murdoch put the succession plan in place in March 2014 when he named the his sons James and Lachlan to senior positions in his...



Why Uber drivers in California should unionize immediately

California's Labor Commission ruled Wednesday that Uber drivers in the state should be considered employees. This is a potentially huge blow to the company, as its business model relies on using independent contractors, for whom it does not pay...



Twitter CEO Dick Costolo Steps Down: Price Targets Cut

Twitter sent ripples through Wall Street on Thursday when it announced that CEO Dick Costolo will step down on July 1. There have been speculations that Costolo would be out for quite some time now, as shareholders have been tiring of the company's...



SEC sues over alleged hoax Avon buyout bid

NEW YORK (Reuters) - The top U.S. securities regulator on Thursday accused a Bulgarian man of being an architect behind hoaxes that fraudulently drove up share prices of Avon Products Inc and two other companies through bogus takeover bids. ...



Uber driver deemed employee by California Labor Commission

In a decision that could have major implications for the way Uber does business in its home state, the California Labor Commission has ruled that a driver was an employee when she was driving for the company.Uber has always claimed that its drivers...



10 things you need to know before the opening bell (SPY, SPX, DIA, QQQ, DB, HSBC, LULU, FCAU, GM, WLT)

Here is what you need to know. China's economy showed more signs of slowing. According to China’s National Bureau of Statistics consumer prices rose 1.2% year-over-year in May, falling short of the 1.3% increase that was anticipated....



A 28-year-old was reportedly robbed of his bitcoin at gunpoint

CNBC reports there has been yet another robbery at gunpoint for bitcoin in New York. A thief stole about $1,100 worth of bitcoin late last month. According to CNBC: The latest combination street-cyber crime occurred at around 11:30 a.m. on May 27 in the...



Volcker Sees Hidden Peril in State Budgets

A report from Paul Volcker’s new foundation says that states are building up piles of debt and pushing costs to future generations of...



Record Support for Same-Sex Marriage

Public support for allowing gays and lesbians to marry legally continues its rapid rise: A 57% majority of Americans now favor allowing same-sex marriage, up from 42% just five years...



What are traders chatting about this morning? Greece. (DIA, SPX, SPY, QQQ, IWM, TLT)

Via Dave Lutz at JonesTrading, here's what traders are chatting about this morning.  Good Morning! S&P futures are 70bp better than Germany's, as the $ drop + Greece + Ukraine weigh on our European brethren. Get ready for...



Tesla Motors Inc Shares On the Move In April And May

Tesla Motors shares have been on a real tear the last couple of months. The EV maker's stock has moved up from a low of $185 on March 27th all the way up to $250 earlier this week. That's a 35% move up for Elon Musk's pride and joy in just...



Why Are Libertarians Mostly Dudes?

Since 1980, the Republican Party has been bedeviled by a persistent gender gap in presidential elections, as GOP nominees have struggled with female voters. But Rand Paul is facing an intensification of this phenomenon: He can’t even win over...



Robert Shiller – CAPE – S&P 500 History [From January 1871-may 2015]

"Davidson" On Robert Shiller - The S&P 500 History From January 1871-may 2015 by Todd Sullivan, ValuePlays “Davidson ” submits: Robert Shiller, Nobel Prize recipient and Prof at Yale University, presents the history of the...



Record labels attack APPLE deals that would leave them 'completely screwed'...

Record labels attack APPLE deals that would leave them 'completely screwed'...(Second column, 1st story, link) ...



Views Differ on Shape of Macroeconomics



Evercore Cuts Twitter Inc To Hold Citing Facebook Inc Rivalry

Shares in Twitter are trading up $0.27 at the time of writing at $37.26. The 0.7% increase is due to a mixture of good and bad factors. The company's Chief Financial Officer Anthony Noto spoke at Twitter's annual shareholder meeting...