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Business News

Location American Business News for 28 June 2017
The foreclosed $50.9 million penthouse on Billionaire's Row is reportedly owned by a Nigerian tycoon who could be hiding on his yacht Evan Joseph/Extell Development The man behind what could be the largest foreclosure in New York City real estate history may have just been revealed. A full-floor penthouse in the landmark One57 condo building is headed ...
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Pending home sales tumble as supply crisis hits sales The pending home sales index dropped 0.8% month-to-month and is now 1.7% lower than May 2016. The inventory crisis is worst on the low end of the market, where demand is highest.        
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Value Investing Is Ready to Stage a Comeback

Barron's - 28 Jun 2017 13:03
Value Investing Is Ready to Stage a Comeback Though growth stocks have trounced value stocks this year--and are leading over the past dozen years. Don't count on that lasting forever.
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Want to Be Happy? Do These 6 Things, According to Warren Buffett In an interview with Judy Woodruff of PBS, Buffett explains the secret to his happiness and health.
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Byron Wien Takes Pulse of European Markets

Barron's - 28 Jun 2017 19:01
Byron Wien Takes Pulse of European Markets Fears of an EU breakup have subsided and Spain offers surprising growth, the Wall Street veteran writes.
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A Massachusetts tribe has suspended its efforts to get the federal government to designate 321 acres as sovereign tribal land. The Mashpee Wampanoag tribe says it made the decision in …
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Dream Reality Interactive stands at the intersection of augmented reality, virtual reality, and artificial intelligence. And that has enabled the company to raise a round of funding from creative agency Mother and invest...
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The stock market is sending Janet Yellen a crucial message

Business Insider - 28 Jun 2017 12:02
The stock market is sending Janet Yellen a crucial message REUTERS/William West If the equitymarket truly believed the Fed's assertion that the economy is strong enough to withstand higher interest rates, it would be fleeing from stocks offering high yields. It's doing the oppos...
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Hedge funds can't compete with stocks in tough Indian market, says Andrew Holland Andrew Holland, who manages about Rs800 crore for Avendus Capital, says hedge funds can't compete with equities due to high tax
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Japan Needs New Thinking, And New Anti-Austerity Politicians Ben Bernanke has urged Japan to implement more expansionary fiscal policy, but the LDP politicians have been pushing austerity policy. To revive its economy, Japan needs more reflationary politicians.
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Toshiba Misses Its Deadline for a Deal for Its Microchip Unit

The New York Times - 28 Jun 2017 05:41
Toshiba Misses Its Deadline for a Deal for Its Microchip Unit The company's admission that it had not completed a deal with its chosen buyers came as a rival bidder, Western Digital, said it had submitted a new offer.
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The tricky calculus of housing finance reform

American Banker - 28 Jun 2017 00:08
The Senate is set to begin teeing up housing finance reform discussions at a Banking Committee hearing on Thursday, but many are skeptical that Congress will be able to succeed where it has failed in the past.
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How The ETF Bubble Feeds The Stock Market Bubble Why ETF inflows are skewed towards expensive stocks and feed asset bubbles, and what to do about it
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GM wants the era of self-driving cars to be led by women (GM) Mike Appleton/General Motors GM wants more women to help build the cars of the future and it’s making big moves to ensure that it happens. The automaker announced Wednesday that it is partnering with four new non-profi...
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Scott Pruitt, Trump's EPA chief met with Dow Chemical exec before rolling back a ban on pesticides Thomson Reuters WASHINGTON (AP) — The Trump administration’s top environmental official met privately with the chief executive of Dow Chemical shortly before reversing his agency’s push to ban a widely used pestici...
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Blue Apron slices share price range, hinting at tough market Blue Apron, the meal-kit delivery company, slashed the price it expects to sell its shares by as much as 40 percent, a sign that the company may be having trouble attracting investors
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Ethereum explodes above $300

Business Insider - 28 Jun 2017 16:52
Ethereum explodes above $300 Ethereum is exploding higher on Wednesday, tradingup 32% at $299.70. It hita high of $308 earlier in the session. The climb back above the $300 level comes just less than a week after a flash crash on the Global Digital ...
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Oil is rising after US supply numbers come in higher than expected (WTI) Oil prices are risingafter higher than expected oil inventory numbers. Data from the Energy Information Administration show a slight increase of 0.118 million barrels, compared to Wall Street's expected drawof 2.585 mill...
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Apple's latest acquisition to further its VR push should enhance the 'Apple effect' (AAPL) BI Intelligence This story was delivered to BI Intelligence Apps and Platforms Briefingsubscribers. To learn more and subscribe, please click here. Apple has likely acquired SensoMotoric, a German computer vision company...
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Alnylam Selloff Looks Like an Overreaction

Barron's - 28 Jun 2017 12:48
Alnylam Selloff Looks Like an Overreaction The porphyria program could be an interesting fast-to-market program in a high unmet-need area.
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Skyscraper lit in Qatar Airways' colors amid dispute

Miami Herald - 28 Jun 2017 07:30
The Empire State Building in New York City is lit up in burgundy and white for Qatar Airways amid a diplomatic dispute with Qatar. The top of the Empire State …
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This city is a car buyer's delight for affordability There's only one metro area where consumers earning the median income can afford a new car        
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