Calculated Risk Expects A Series Of Weak Economic Reports This Week:
Image: Mathew Knott via Flickr
Monday: US Markets Are Closed In Observance Of Memorial Day.
Tuesday: Case-Shiller House Prices.
Wednesday: The ISM Manufacturing Index And May Vehicle Sales.
Friday: May Employment Report.
The Rest Of The Schedule for Week of May 29th.
>> Earnings Here.
The key economic reports for the week ahead:
Full Schedule for Week of April 24th from Calculated Risk. U.S. Markets Outlook from MarketWatch here and CNBC here.
Cartoon from Jim Morin on the S&P downgrade. HT: Barry Ritholtz, The Big Picture.
Jim Cramer by Tulane Public Relations via Flickr.
U.S equity reports to watch the week ahead:
Tuesday, Feb. 1
Wednesday, Feb. 2
Thursday, Feb. 3
Friday, Feb. 4
Mad Money’s Jim Cramer comments the reports here.
Via Wikipedia.
If you are willing to live miles from the closest Starbucks, then acres of rural, free land could be yours:
“The Homestead Act of 1862 is no longer in effect, but free land is still available out there in the great wide open. In fact, the town of Beatrice, Nebraska has even enacted a Homestead Act of 2010.”
CNBC found 7 Towns Where Land Is Free here:
Barron’s: Use Options to Sidestep the Tax Man. A simple strategy can lock in the current 15% capital-gains rate on a bid-up stock while allowing for future profits from the same stock.
By Travel Aficionado via Flickr
BBC: G20 agrees to address currencies. Leaders of the G20 group of major economies have agreed to avoid “competitive devaluation” of currencies after a second day of difficult talks in the South Korean capital, Seoul.
Bloomberg: Taxes May Solve U.S. High-Frequency Trading Mess: Peter Coy. Fixing this is not a matter of patching up the current system, as the Securities and Exchange Commission is already doing. It’s time to step back and consider the proper role of finance in the American economy.
BusinessWeek: Why Oil Could Top $100 a Barrel. The weakening dollar could trigger a steady rise in the price of crude, sending it over $100 next year
CNBC: Cramer: Why You Must Own Gold. Most retail investors can’t get their hands on Chinese yuans or Brazil reals, but they can add some of the precious metal to their portfolio.
Forbes: Three Keys To Improving Your Strategic Thinking. One of the keys to becoming a great leader is to constantly improve your strategic thinking, so you can adjust to new global realities.
MarketWatch: Gold futures slump as much as $21. Gold futures dropped as much as $21 per ounce on Friday, pulling back as the U.S. dollar regained lost ground against foreign currencies, dulling the investment allure of the precious metal, which hit a record high earlier this week.
Reuters: Airfares flying high this year. Have plans to fly home this holiday season? Join the crowd — and expect to pay a lot more than you did last year. Here’s how to beat the costs.
The Business Insider: Facebook Is Launching Email On Monday. Look out Google, Yahoo, Microsoft…
The Economist: How evil? Commodity speculators do more good than harm.
The Financial Times: History lessons - What G20 leaders can learn from the 1930s.
The Guardian: British Gas raises prices by 7%. Increase will affect around 8 million customers, adding £53 to annual gas bills and £29 to electricity bills.
The New York Times: Countries See Hazards in Free Flow of Capital. In China and Taiwan, regulators are imposing fresh restrictions on stock market investments by foreigners. In Brazil, officials have twice raised taxes on foreign investors.
The Telegraph: Questor share tips. Buy Amec, Rio Tinto.
The Wall Street Journal: Can You Get Genius Results With Just Hard Work? Is genius a simple matter of hard work? Not a chance.
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 European summit: The bully in the room?
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.
Wall Street by f-l-e-x via Flickr
Barron’s: How to Hedge Election and Fed. Buy defensive options ahead of the election and Federal Reserve meeting just in case the outcome isn’t as grand as expected.
BBC: Australia and India in rate rises.Australia and India have both raised interest rates by a quarter percentage point amid fears of rising inflation.
Bloomberg: Swiss Re Leads Fight Over 35% Tax Plan That Cuts U.S. Profits. Swiss Reinsurance Co. and Munich Re , the world’s biggest reinsurers, are battling a proposed congressional bill that may reduce earnings from the U.S.
BusinessWeek: GOP Nears Biggest Midterm Win Since 1938 Election. Voters in a “foul mood” stand poised to give Republicans a House majority and leave Democrats little edge in the Senate, say analysts who warn of “midterm bloodletting”
CNBC: BP Raises Gulf Spill Costs Estimate; Profits Dive. The oil major lifted its estimate of the cost of its oil spill by $7.7 billion to $39.9 billion, pushing its profits down sharply despite higher oil and gas prices.
Forbes: The Economy Is Doing Better Than It Seems. Two percent GDP growth is nothing to write home about, but a surge in imports suggests consumers and businesses are spending.
MarketWatch: U.K.’s Lloyds on track. British lender says underlying income growth in the third quarter is moving in the right direction.
Reuters: The boomerang generation. Burdened by student debt and stymied by limited job choices, many young adults are forced to move back home. Here’s how parents can make the best of the situation.
The Business Insider: Watch Oil To See If It’s About To Scream That A Major Recovery Is Underway. It just made a “golden cross.”
The Economist: Asia view reports that it’s now possible to make a mobile phone call and surf the internet from Mount Everest.
The Financial Times: Obama can blame the whining left. & Middle America’s Tea Party is here to stay.
The Guardian: Why the west rules – for now. Audio slideshow: Ian Morris argues that it is geography which determines the landscape of power
The New York Times: Big Investors Appear Out of Thin Air. Investors have swooped in and bought big stakes of companies in the United States and in France without anyone knowing. Shouldn’t something be done about these maneuvers?
The Telegraph: Saudi fuels oil price fears. Saudi Arabia implies it will do nothing to stop prices reaching $90 a barrel.
The Wall Street Journal: Unusual Turn for European Business. Europe’s industrial policy was unveiled in a manner so low key that many industrialists may not be aware of its existence.
Barron’s: Oil and Gas Stocks Gushing Higher. The energy sector has regained its footing as investors revisit stocks shunned since the Gulf of Mexico spill.
BBC: BA boss questions airport checks.The chairman of British Airways has said some “completely redundant” airport security checks should be scrapped. Practices such as forcing passengers to take off their shoes should be abandoned, Martin Broughton said.
Bloomberg: Cameron’s Budget Gamble Pays Off as U.K. Economy Holds Firm. British Prime Minister David Cameron ’s once-in-a-generation budget gamble is paying off for now as the economy’s unexpected strength eases investors’ qualms over the risk of a renewed recession.
BusinessWeek: China Stock Rally ‘Has Legs,’ YCMNet Yoshikami Says. The Shanghai Composite Index has jumped 13 percent since the end of September, the most among 89 benchmark gauges tracked globally by Bloomberg.
CNBC: Cramer: This Market is Cheap Cheap Cheap. With the market continuing to push higher, as the Dow and S&P 500 finished in the green yet again, a certain segment of Wall Street is wondering how long it can last.
Forbes: Now Is The Time To Buy Stocks, Argues Merrill. Contrarian report says earnings yield gap, upcoming buybacks to boost equities.
MarketWatch: SAP, Heineken sip; Deutsche Bank gains after results. Corporate news was driving European stocks to a second day of losses, with software group SAP AG and beer giant Heineken falling sharply, while Deutsche Bank bucked the negative trend.
Reuters: Stock futures point to lower open. Stock index futures pointed to a lower open for Wall Street on Wednesday, with futures for the S&P 500, Dow Jones and Nasdaq down 0.3 to 0.6 percent by 0900.
The Business Insider: These Are The Only 5 Countries Whose Pension Systems Can Survive. Only five national pension systems earned a B-grade on Mercer’s 2010 global index, which was given to systems with “sound structure” and “room for improvement.”
The Financial Times: How the British prefer to register displeasure. Expressions of discontent differ internationally.
The Guardian: Corruption index 2010: the most corrupt countries in the world.
The New York Times: Skill Shortage Clouds Prospects for British Energy. A lack of engineering and technical skills in Britain poses a serious threat to the country’s ability to expand its renewable energy industry.
The Telegraph: Venture capitalists optimistic. Stuart Nicol of Octopus is bullish about M&A in 2010.
The Wall Street Journal: EU Pushes China To Open Bidding. The EU is leading a push against China’s public procurement policies, which in effect keep many foreign companies from the bidding process.
The corner of Wall Street and Broadway via Wikipedia.
All Things Digital: We Thought the Internet Was Killing Print. But It Isn’t. The woe, as usual, is more or less unconfined.
Barron’s: Confessions of a Market Maker. Thomas Peterffy helped build the modern securities market. Now, he’s speaking out about the way technology has fragmented trading.
BBC: Mining giants scrap iron ore deal. Mining companies BHP Billiton and Rio Tinto have dropped plans to combine their iron ore operations in Western Australia.
Bloomberg: Hong Kong Losing to Shanghai Means Goodbye to Long Lunch. Equities traders in Hong Kong may soon have to say goodbye to lunches of sautéed ostrich and crispy pigeon at Michelin-starred restaurants and settle for a sandwich at their desks instead.
BusinessWeek: Opportunity in the Last Place You’d Look. From Peru to Ghana to Bangladesh, astute investors are taking a chance on the next wave of emerging nations.
CNBC: Oil Prices May Fall Below $80 as Foreclosure Weighs: Survey. Oil prices may fall below $80 a barrel this week as regulators probe the banking industry’s foreclosure practices in the U.S., offsetting expectations of more quantitative easing by the Fed, a CNBC survey showed.
Forbes: The Wal-Mart Disease. Have you noticed how many of America’s leading companies have done little, or nothing, for shareholders lately?
MarketWatch: U.S. Week Ahead: Apple, IBM, Seagate to report. Apple earnings highlight a busy schedule of financial results in the U.S. week ahead.
Reuters: Can cellphones alleviate global poverty? Cellphone subscriptions will reach five billion this year — almost one per person on the planet. That means good news for the developing world.
The Business Insider: Tom Friedman: Here Is The Best Short Opportunity In China. And it even involves credit default swaps.
The Financial Times: Don’t give in to the branding mob.
The Guardian: Tax avoidance deadline for banks. Barclays and HSBC among 11 banks yet to sign up to a new code as George Osborne says avoidance is ‘immoral’ at a time of public sector cuts.
The New York Times: China Escalates Fight With U.S. on Energy Aid. China dismissed the American inquiry into subsidies for clean-energy industries as election-season politics.
The Telegraph: Cut now or pay later, say business leaders. A significant boost to George Osborne as senior business leaders back the Coalition’s cuts and say that anything less would result in £100 billion of additional debt.
The Wall Street Journal: U.K. Firms’ Hiring Could Offset Public Cuts. The private sector may be able to create enough new jobs to make up for those lost through the government’s austerity drive, the Confederation of British Industry said, cautioning that occasional setbacks are expected.
Morgan Stanley highlights that investors should be aware of the momentum crowd, just around the corner. Image: Morgan Stanley's office on Times Square via Wikipedia
All Things Digital: For One Company, Facebook Sharing Beats Twitter, LinkedIn and Email. What kind of social sharing is most valuable to a business? One company reports that a link shared via Twitter nets the company 43 cents, while LinkedIn brings in 90 cents and its own “e-mail friends” app generates.
Barron’s: Stocks Float on Rising Tide, but Watch for Shoals. A resilient market shook off bad economic reports, but technical underpinnings remain shaky.
BBC: China to address rich-poor divide. China’s ruling Communists hold an important meeting to outline economic development, which is also likely to signal its next generation of leaders.
Bloomberg: Swiss Banks Buck Secrecy Squeeze With $53 Billion of Inflows. Swiss private banks withstood assaults on client secrecy by the U.S., France and Germany to attract more than 50 billion francs ($53 billion) of assets since the end of 2007.
BusinessWeek:Microsoft Needs Mobile to Be Its Next Killer App. A hit with Windows Phone 7 would help keep the software giant at the center of computing
CNBC: Race to Devalue Would Be ‘Fatal’: ECB Official.“It would be fatal to enter a race to devalue, which in the end will bring about protectionism. Protectionism in the 1930s is what led to the global economic crisis,” he said.
Forbes: Facebook Fans Vs. Twitter Followers: Which Are More Valuable? Word of mouth has long been recognized as the most potent form of advertising.
MarketWatch: Google profit up 32%. Search giant posts a significant gain in third-quarter profit that tops Wall Street estimates.
Reuters: Sun shines again on cleantech. Government targets and a red-hot solar industry are driving a resurgence in green energy investment, but will the world’s biggest investors get on board?
The Business Insider: Morgan Stanley: Risk Taking Just Hit A 3-Year High And It Means Stocks Will Keep Rallying. Here comes the momentum crowd.
The Financial Times: Key to the future? The recovery of UBS has lessons for whole sector.
The Guardian: HBOS’s leading role in £11.5bn loans to US gambling industry. Six biggest banks present 17-point plan to improve lending – including £1.5bn growth fund – at meeting with chancellor and business secretary.
The New York Times: What Oman Can Teach Us. As the United States relies on firepower to try to crush extremism in Afghanistan, Pakistan and Yemen, it might instead consider the lesson of the remarkable Arab country of Oman.
The Telegraph: Liam Fox assures US of Britain’s Nato commitment. Obama’s government delivered a stark public warning against major cuts in the British defence budget, suggesting that they would undermine Nato and the Special Relationship.
The Wall Street Journal: U-Turn in the U.K.: Big Spending Cuts. As Britain grapples with a massive budget deficit, U.K. Prime Minister David Cameron is intent on weaning Britain off public money in hopes of reviving private enterprise. His plans would make the U.K. the most aggressive deficit-cutter among major economies.
Barron’s: Agri Stocks Continue to Grow Taller. An uptrend in this sector can help stocks such as Lindsay Corp. and Bunge Ltd.
Burberry reports an 11% increase in second-quarter profit by wearitdotcom via Flickr.
BBC: Burberry sales up on Asia growth. Fashion company Burberry said it had continued to benefit from its growing presence outside Europe, as it reported rising sales.
Bloomberg: China Trade Surplus Caps Biggest Quarter Since 2008. China, the world’s biggest exporter, posted a $16.9 billion trade surplus for September, capping the largest quarterly excess since the financial crisis in 2008 as pressure mounts for a stronger yuan.
BusinessWeek: Corn Crunch Means Costliest Beef in Quarter Century. Meat prices are poised to extend a 14 percent rally this year that drove U.S. retail costs to the highest levels since the 1980s as surging corn futures prevent livestock producers from expanding their herds.
CNBC: StanChart to Raise $5.3 Billion Through Rights Issue. Emerging markets bank Standard Chartered said it would raise $5.3 billion through a rights issue to strengthen its finances ahead of the introduction of new global capital rules.
Forbes: JPMorgan Holds The Most Loans In Foreclosure. As many as 9 million mortgage loans may face legal challenges.
MarketWatch: Intel profit surges on ‘solid’ corporate demand. Intel Corp. reported a 59% jump in third-quarter profit, as Chief Executive Paul Otellini cited “solid demand from corporate customers.”
Reuters: Geithner sees “no risk” of currency war. Treasury Secretary Timothy Geithner said on Tuesday he sees “no risk” of a global currency war and wants to maximize incentives for China to allow its yuan to rise in value.
The Business Insider: The SEC Has No Clue What It’s Doing With High Frequency Trading. But there are some steps it could take to fix many of the problems HFT is creating.
The Financial Times: Gold rush - Why America should open its bullion vaults.
The Guardian: EU plans strict new oil drilling laws. Offshore accidents do not know national borders, says energy commissioner.
The New York Times: Silicon Valley’s Solar Innovators Retool to Catch Up to China. As California companies begin mass production of a new solar cell, the industry has been changed — by China.
The Telegraph: Government cuts could cost 500,000 private sector jobs. A total of one million people will lose their jobs in the next five years as a result of public spending cuts, PwC research suggests.
The Wall Street Journal: U.S. Ends Ban on Deep-Water Drilling. The Obama administration said it is lifting a controversial moratorium on deep-water oil drilling, but it’s unclear how quickly idled oil rigs can go back to work in the Gulf of Mexico.
Barron’s: A Crowd Climbs Aboard QE2. The trades are bearish on the dollar, bullish on gold.; a pair of financials offer more rewarding opportunities.
BBC: Iceland on top for gender equality. Iceland remains the country that has the greatest equality between men and women, according to an annual report by the World Economic Forum (WEF).
NYSE via Wikipedia
Bloomberg: Marc Faber Says World Heading for `Major Inflection Point’. Global markets are heading for an “important turning point” as interest rates begin to rise within about three months and the U.S. dollar gains, according to investor Marc Faber.
BusinessWeek: Twenty Tips for First-Time Managers.That semi-competent manager you and your colleagues used to complain about is gone. And guess who’s in charge now? It’s you, my friend.
CNBC: Sleeping With the Boss. How many employees claim to have slept with their bosses in order to get a promotion?
Forbes: Ivanka Trump And The Art Of Being Underestimated. When it comes to women in business, there is a common assumption that being super-rich and beautiful, with long blonde hair and an elegant 5’11″ frame, usually means you are not taken as seriously as your male or mousier colleagues.
MarketWatch: Miners lead Europe stocks to sharp losses. European stocks fell sharply Tuesday following overnight losses for Asian markets, with miners leading the decline as commodity prices weakened, while Germany’s Metro was one of the few shares to gain ground.
Reuters: Asia’s looming water worry. The fearsome drought that hit Asia’s Mekong river earlier this year highlights a growing problem: the continent’s unslakeable thirst for water in the face of limited supply.
The Business Insider: Faber: I’m Ultra-Bearish On Everything, And We’re At A Turning Point Where It’s Time To Dump Bonds. Cash and stocks will do better.
The Financial Times: Sovereign risk ‘Animal spirits’ need to be anchored.
The Guardian: Inflation stays at 3.1% after record jump in clothing costs. Falling air fares and petrol prices failed to bring down inflation as clothing, shoes, food and furniture all rose in September.
The New York Times: Worrying Over China and Food. There is concern in Washington, Canada and Wall Street over a possible takeover offer by a group backed by China over the company that supplies much of America’s fertilizer.
The Telegraph: City bankers expect billions in bonuses. “Greed is good” – the famous mantra of Wall Street’s Gordon Gekko – is back in fashion in the City, as pay expectations rocket up to 70pc.
The Wall Street Journal: Wal-Mart to Sell iPad. Wal-Mart will start selling Apple’s popular iPad on Friday, landing it only slightly behind rivals Best Buy and Target.
Resting bull via Wikipedia
Barron’s: Of Elephants and Bulls. A Credit Suisse analyst proposes some options plays on the GOP taking Congress. Among them: Bank of America and UnitedHealth Group.
BBC: Topshop boss says state wasteful. The government is failing to make full use of its buying power when dealing with suppliers, says a review by Topshop owner Sir Philip Green.
Bloomberg: Banks Voice Resistance as Regulators Say Basel Is Just a Start. National bank regulators risk undermining a fragile economic recovery if they pursue a new round of capital and liquidity rules beyond those agreed internationally, bankers said at gathering in Washington.
BusinessWeek: Taiwan: iPads for Free, Cases Are $1,000. Sales of the tablet PC are illegal in Taiwan until the government grants Apple a license—so gray marketeers are giving it away with marked-up accessories.
CNBC: Can Rich Nations Learn Lessons from Emerging World? Advanced nations are realizing that China, Brazil and other fast-growing economies have something to teach the rich world about surviving financial turmoil.
Forbes: Is Capitalism Moral? Profit does more than make some people rich by generating dividends and capital gains.
MarketWatch: Asia’s problem of plenty: liquidity. The looming prospect of a fresh round of monetary easing by the West’s major central banks is likely to further expand the pool of unwanted liquidity in Asia.
Reuters: The return of “great power politics”. The growing power of emerging economies — particularly China, Russia, India and Brazil — is redrawing the priorities of foreign and defense ministries, driving financial markets and reshaping the global business environment.
The Business Insider: Commodities Have Had An Amazing Run — So Where Are Thy Going Next? For the next leg, we may need to se real economic improvement.
The Financial Times: FT investigation: Saving the euro. The possible downfall of the single currency was averted only by fraught last-minute meetings and intervention from outside Europe.
The Guardian: David Cameron at Downing St – live. Live coverage of Cameron’s first full Downing Street press conference since the unveiling of the coalition agreement
The New York Times: Test Your Savvy on Religion. Eurostar said it had chosen Siemens over Alstom as the winner of a contract to upgrade its aging fleet of high-speed trains.
The Telegraph: Hedge fund boss Crispin Odey picks Lloyds over Barclays. Crispin Odey – the outspoken hedge fund manager who last year made a 28pc return on the back of Barclays – now says that Lloyds Banking Group is the better investment.
The Wall Street Journal: Fossil Fuelled. Examining the various threats to the global motor industry and highlighting the steps that car makers are taking to overcome them.
Barron’s: Coming Full Circle on Monetary Policy. Oct. 6, 1979 marked the beginning of disinflation. Now we’re headed in the opposite direction.
Dollar by RambergMediaImages via Flickr
BBC: China warns EU off yuan pressure. In a speech to top EU officials, Mr Wen said a big change in the value of the yuan could cause “social and economic turbulence” in China.
Bloomberg: Australian Economy Booms, Drives Currency Near Dollar Parity. Australian employers in September added the most workers in eight months, driving the country’s currency toward a record and bolstering the case for the central bank to resume raising interest rates.
BusinessWeek: Statoil Aims to Raise Up to $850 Million in Fuel IPO. Statoil ASA, Norway’s largest oil and gas company, aims to raise 3.84 billion kroner to 4.92 billion kroner ($850 million) by selling shares in its gas station and transport fuel unit.
CNBC: Bank of England Not So Sure About Monetary Easing. The Bank of England is almost certain to leave interest rates on hold again on Thursday, but the outcome may conceal a three-way split between policymakers.
Forbes: The World’s Most Powerful Women. They are heads of state and first ladies, bankers and cultural icons, CEOs and athletes. A fresh look at power and creative influence.
MarketWatch: Motorola sues Apple. Motorola, hit with a lawsuit just last week, says iPad and iPhone infringe on several of its patents.
Reuters: Can the GOP gut Wall St. reform? Even if voters decide to send more Republicans to Congress in next month’s midterms, the GOP’s plans to roll back the landmark Wall Street reforms may be easier said than done.
The Business Insider: Did The Consumer Ever Recover From the NASDAQ Bust? Reflation didn’t work that time. Why do people think it will work now?
The Financial Times: Alan Greenspan:Fear undermines America’s recovery.
The Guardian: Marks & Spencer enjoys sales boost. Strong performance in clothing, homewares and food over second quarter gets M&S more market share
The New York Times: The Spoils of Happiness. “What is happiness?” is one of those strange questions philosophers ask, and it’s hard to answer. Philosophy, as a discipline, doesn’t agree about it.
The Telegraph: £6,000 wiped off average house price in a month. The UK housing market suffers biggest monthly drop since records began, according to Halifax.
The Wall Street Journal: Conservatives Know the IMF Is Right. The Western world is not pulling out of recession with any great vigor. The IMF is clear why — and that resonated with the Tory conference.
“Des Lachman (aka Dr. Doom), has a very bleak outlook on the near future of the euro. While the crisis of earlier this year has abated, and European policy makers bought themselves a little bit of time, he thinks collapse will happen and soon.”
[via The Enterprise Blog]
Barron’s: A Safe Options Play on Pork. Shares of Smithfield Foods may have stalled out, but the stock’s call options could generate some decent income in the meantime.
BBC: US recession ‘longest since WWII’. The US recession lasted 18 months
and was the most prolonged since World War II, a report has concluded.
Bloomberg: Worst Over in Global Poll Pointing to Reduced Market Returns. Three out of five global investors say the world economy has weathered the financial crisis and has stabilized two years after the collapse of Lehman Brothers Holdings Inc.
BusinessWeek: Bridgestone, Goodyear Face Deepening Rubber Shortage. Bridgestone Corp., the largest tiremaker by sales, is raising European prices for the second time this year and Goodyear Tire & Rubber Co. is charging more as rubber gains on prospects for the biggest shortage since 2007.
CNBC: Ireland Prepares for Make-or-Break Debt Auction. Investors are anxiously waiting for Ireland’s auction of longer-term government bonds to see whether demand for periphery euro-zone debt is still going strong despite fears that gripped markets Friday.
MarketWatch: Goldman downgrades several European banks.
Reuters: China searches for El Dorado. China’s conquistadores are blazing a trail into South America. They aren’t looking for gold, but for resources China needs to feed and house its 1.3 billion populace.
The Business Insider: The “Q Ratio” Reveals That The Stock Market Is At Least 41% Overvalued.
The Financial Times: Jeffrey Sachs: Aid must go global - bilateral assistance is dead.
The Guardian: North Korea sets leadership summit date. Kim Jong-il expected to anoint son as successor at first Workers’ party gathering for three decades
The New York Times: Paul Krugman: The Angry Rich.
The Telegraph: Millions of Americans risk being jobless forever. OECD fears jobs lost in recession may never be recovered.
The Wall Street Journal: IKEA Seeks an India Opening. Swedish furniture giant IKEA plans to double its annual spending on products from South Asia to €1 billion and is pressing the Indian government to relax investment regulations so it can launch its retail superstores there.
Barron’s: Check the Calendar—It’s Not 1982. Despite superficial similarities, Obama can’t turn things around by channeling the Gipper.
BBC: Microsoft executive to lead Nokia.
Bloomberg: Switzerland Dwarfs German Profit Growth Led by Nestle-Novartis.
BusinessWeek: British Airways Seeks a Bride to Regain Altitude. After taking
on its unions, the airline needs a global partner to grow.
CNBC: Why New Bank Capital Rules Could Make Things Worse. Any set of regulations that seeks to cover something as complex as the global banking system inevitably will have unintended consequences. And even well-wrought regulations cannot easily adapt to changing circumstances.
MarketWatch: Dubai World agrees $24.9 billion debt revamp.
Reuters: Apple eases app restrictions, Adobe shares jump.
The Economist: Volatile wheat prices are as worrisome as high prices.
The Business Insider: The Majority Of Americans Say A Double Dip Is Coming, America Is Fundamentally Broken.
The Financial Times: China posts strong copper and crude imports.
The Guardian: A better way to fix the US housing crisis. Joseph Stiglitz: Government policies to prop up the housing market not only have failed to fix the problem, they are prolonging the agony.
The New York Times: Dressing Gordon Gekko, Then and Now. Esquire sat down with the costume designer for the two “Wall Street” movies to learn about the art behind dressing Gordon Gekko.
The Wall Street Journal: Thinking Outside the Stocks. The stock market may be slumping, but other investments, from student housing to parking lots, are surging. Here’s how to play them.
BBC: Petrobras files $65bn share offer.
Bloomberg: China Property Bonds Rebound on Record Sales: Credit Markets.
BusinessWeek: Philippine Bull Rally to Be ‘Massive,’ Macquarie Says.
United States President Obama meets former British Prime Minister and Labour Politician, Gordon Brown, in Washington, D.C. // Image via Wikipedia
CNBC: President Barack Obama launches several economic initiatives this week aimed at generating some desperately needed U.S. job growth and limiting predicted Democratic losses in Nov. 2 congressional elections.
MarketWatch: Trade Data Unravel Mystery: A fresh set of trade data due out this week will be eagerly cross-examined by economists after last month’s report proved to be something of a cipher.
Reuters: Oil dips towards $74 on U.S. glut at driving season end.
The Economist: Bagehot considers the controversy surrounding David Cameron’s press chief..
The Business Insider: Roubini: The Economy Is So Weak Now That Any Shock Will Cause A Double-Dip.
The Financial Times: Fears rise as EU nations aim to raise borrowing.
The New York Times: Putin Extends Ban on Russian Grain Exports.
The Wall Street Journal: The Obama administration is moving toward using the revenue from expiring tax cuts for the wealthy to finance about $35 billion of tax cuts for small businesses and workers.
Image via Wikipedia
BBC: Chinese consider rival Potash bid.
Bloomberg: Ryanair’s O’Leary Ponders One-Euro Toilets, Standing Passengers.
BusinessWeek: Roubini Says Dollar Franc May Beat Gold in Any New Recession.
CNBC: It’s NOT the Economy, Stupid: It’s The Mess In Washington.
MarketWatch: Property curbs: Singapore’s biting restrictions to cool the city’s property prices will affect banks’ credit growth.
SmartMoney: The big question: Will an advanced degree lead to a bigger paycheck?
The Economist: That’s the way the cookie crumbles: One reason dieting does not work.
The Business Insider: 30 statistics that prove the rich are getting richer and the poor are getting poorer.
The Financial Times: Sebastian Mallaby: Capitalism and its divided critics.
The Guardian: British manufacturing ‘at risk of collapse in five years because of skills shortage’.
The New York Times: Putin Extends Ban on Russian Grain Exports.
The Wall Street Journal: Japan Warns China on Business Rules.
All Things Digital: Video: BoomTown Zings, Dings and Pings at Apple Music Event.
BBC: Silicon Valley’s lucky building.
Bloomberg: French Unemployment Rate Drops for First Time Since Recession.
BusinessWeek: Not Enough Jobs for China’s College Grads.
CNBC: China’s August Car Sales Surge, Auto Stocks Jump.
Reuters: Oil steady near $74 as investors eye U.S. jobs reports.
SmartMoney: Toyota Reports 34% Drop in August U.S. Sales.
The Economist: Buttonwood on whether inequality makes people ill.
The Business Insider: 11 Countries With Even Worse Housing Markets Than The US.
The Financial Times: Meat price surge fuels fears of food inflation.
The Guardian: A new report shows the most highly paid executives are those who’ve laid off most workers: a bitter irony before Labour Day.
The New York Times: Economic Scene: Tax Cuts That Make a Difference.
The Wall Street Journal: 10 Mistakes That Start-Up Entrepreneurs Make.
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“I’d rather have the Europeans running the U.S. central bank than the people running the U.S. central bank. At least they know how to try to build for the future,” Rogers told CNBC Monday.
“In America, Bernanke just says we’ll print more money, we’ll spend more money, even though the United States is now the largest debtor nation in the history of the world.”
Not a very “shocking” statement, just a while since i heard an american investor say “look too European politics – they know how to do it”. Rogers is also bullish on agriculture, read the full article on CNBC here.
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