Markets closed down (DOW - 133 points, SPY -0.8%) and have logged a third straight losing session today as investors have become jittery ahead of the Fed's policy meeting and a looming vote on the U.K.'s membership in the European Union. Crude remains in the mid 48's as some market participants say the recent rally in oil could encourage producers to ramp up production, keeping well-supplied markets awash in surplus.
(Reuters) - Microsoft Corp will buy LinkedIn Corp for $26.2 billion in its biggest-ever deal, marking CEO Satya Nadella's first big effort to breathe new life into the software giant's business-productivity tools.
(Reuters) - Wall Street stumbled for a third straight session on Monday as tech stalwarts Microsoft and Apple dragged on indexes and investors braced for major economic and political events in the United States and Europe.
SAN FRANCISCO (Reuters) - Apple Inc is opening its popular Siri digital assistant to outside developers, which means iPhone users could soon be able to hail rides with Uber, publish photos on Shutterfly or make a call on Skype with voice commands.
(Reuters) - FanDuel Inc has been in talks to merge with DraftKings Inc, a person familiar with the matter said on Monday, in a deal that could combine the two largest U.S. daily fantasy sports companies at time when both face a regulatory crackdown.
SAN FRANCISCO (Reuters) - The California Public Employees' Retirement System recently bought a stake in a private Indiana toll road with a troubled history, one sign of how popular infrastructure investments have become among U.S. pension funds.
NEW YORK (Reuters) - U.S. telecommunications rivals Verizon Communications Inc and AT&T Inc are set to go through to the third and final round of bidding in the auction for Yahoo Inc's core internet assets, according to people familiar with the matter.
The Establishment Has Lost Its Hold On The People, Brexit Gains Momentum
Written by Nathan McDonald (CLICK FOR ORIGINAL)
People around the world are sick and tired of the status quo. They are sick and tired of the overly political correctness and the way that the system is attempting to control every aspect of our lives. You can see this growing wave of discontent from the ever-growing amount of politicians getting elected around the world with a nationalist ideology.
An increasing mass of people is sick and tired of the welfarestate that has been created around us and want to get back to good, honest work - the type of hard effort and commitment that made the West the most
prosperous nation in the world. Sadly, over the last few decades a growing portion of the population has gotten lazy and have ...
In what was likely an attempt to win over skeptics about its bond purchase program, which as of last week includes not only sovereign and covered-bonds, but also corporates (both Investment Grade as well as apparently junk bonds), the ECB released a video last week titled "Inside the Asset Purchase Program" or APP. The ECB described the the APP as "one of the non-standard monetary policy measures the ECB has taken to address risky periods of low inflation."
It is unclear whether the ECB will achieve its goal of converting any skeptics, especially after DB's stock just slid to new lows earlier today and the outcry against both NIRP and direct interventions in the market grow ever louder with every passing day, but at least the video provided a candid look into the rationale presented by the APP's key managers into why they are doing what they are doing. Take the example of ECB economist Tobias Blattner who said that the ECB launched the APP "because it was facing a situation in which there was continued downside pressure on prices that were jeopardizing the achievement of the ECB price stability objective" confirming once again that the ECB's only real mandate is to keep asset prices higher.
Another ECB economist, Soren Radde, said that the ECB expects that asset purchases "will boost GDP by around one and a half percent over a three year period, and inflation by half a percentage point in 2016 and 2017." So far it has failed to achieve either of these, with the Eurozone constantly flirting with contraction and which in April once again slid into deflation.
So much for the economic justifications. The ECB managers then go on to explain precisely how the APP takes place. As Julian Von Landesberger, a "Principal Portfolio Management Expert" notes, "our day starts, naturally, with selecting the bonds that we will buy on that day, then we communicate this to the national central banks that also operate in the market, thereafter we buy the bonds e ...
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