Barron’s: Bank Stocks Finally Arrive at Rally Party. With the Fed committed to goosing the economy, Citigroup and other bank stocks are showing that they have catch-up potential.
Image by occupantproductions via Flickr
BBC: Slow quarter saps Barclays profit. Barclays Plc, Britain’s third-largest bank, said its capital ratio remained “strong” as quarterly profit fell 76 percent on lower revenue at the investment banking unit.
Bloomberg: High-Frequency Traders Lobby, Donate to Head Off U.S. Rules. Closely held companies with undisclosed profits and obscure names like Getco LLC, Hard Eight Futures LLC and Quantlab Financial LLC, are beginning to act more like Wall Street banks, cutting checks to politicians, forming trade groups and hiring lobbyists and ex-regulators.
BusinessWeek: Tax Uncertainty Hastens Property Sales. Shades of “Cash for Clunkers” as the prospect of higher taxes if Bush-era tax cuts expire in January spurs owners to put more real estate on the market.
Forbes: How To Be A Leader At Hello. Coming off as a leader can help you get ahead–whether you’re vying for a job, trying to make business connections or looking for love.
MarketWatch: Stock investors: put on your rally cap. Growth stocks and small stocks are fueling the U.S. stock market rally, reversing the trends that prevailed in the April-June correction. While it might not be time for champagne yet, it is heartening on many levels.
Reuters: Is a farm bubble growing? Even with a stagnant national economy, the price of farmland in the Midwest is rising at rates that some find disturbing. What’s behind the growth and could it create a bubble?
The Business Insider: IEA: Chinese Energy Demand Will Soon Equal Two-Thirds Of The Entire Developed World. Soon to dominate oil and coal demand growth.
The Economist: Most commented -
The Financial Times: Philip Stephens Cameron keeps a rendezvous with reality.
The Guardian: Cable rows with bank bosses during Chinese trade mission. Business secretary disagrees with RBS and Standard Chartered chiefs after they warned a bonus crackdown could trigger a staff exodus to Asia.
The New York Times: The Return of the Risk Arbs. The most telling sign that mergers are poised for a revival? Risk arbitrage has come back from the dead. Hedge funds are now pouring money into the strategy of betting on the outcomes of deals.
The Telegraph: Why is Bush ‘comfortable’ with his legacy? The contrarian thing to say about Bush’s remarks is that he’s right, and I certainly toyed with the idea of trying to string together some sort of defence of his presidency. But in the end, you cannot ignore the evidence in front of your eyes.
The Wall Street Journal: Science Behind Our Love of Ice Cream. Why people prefer certain foods depends largely on a combination of taste and texture. Researchers have found that an enzyme in saliva could play a key role in determining the appeal of foods.