May 3, 2017

Markets / Economy

WSJ – China Looks to Export Auto Overcapacity on Slow-Growth World – Anjani Trivedi 5/1

  • But that’s what you do… it’s what the US and Japanese automakers have done before them.

Bloomberg – Paul Tudor Jones Says U.S. Stocks Should ‘Terrify’ Janet Yellen – Katherine Burton and Katia Porzecanski 4/21

  • “Managers expecting the worst each have a pet harbinger of doom. Seth Klarman, who runs the $30 billion Baupost Group, told investors in a letter last week that corporate insiders have been heavy sellers of their company shares. To him, that’s ‘a sign that those who know their companies the best believe valuations have become full or excessive.'”
  • “Share sales by insiders outstripped purchases by $38 billion in the first quarter, the most since 2013, according to The Washington Service, a provider of data and analysis on insider trading.”

Real Estate

NYT – Supreme Court Rules Miami Can Sue for Predatory Lending – Adam Liptak 5/1

  • “The Supreme Court ruled on Monday that Miami can sue two banks for predatory lending under the Fair Housing Act of 1968.”
  • “The case arose from the 2008 financial crisis. Miami sued Bank of America and Wells Fargo, saying that their discriminatory mortgage lending practices had led to a disproportionate number of defaults by minority home buyers and, in turn, to financial harm to the city.”
  • “Even as the majority of justices ruled that Miami was entitled to sue under the housing law, the court declined to decide whether the city had asserted a direct enough connection between the banks’ actions and the harm it claimed. The court sent the case back to the federal appeals court in Atlanta for further exploration of that question.”

Tech

Bloomberg – Inside China’s Plans for World Robot Domination – Dexter Roberts and Rachel Chang 4/24

Bloomberg – New iPhone Screen Puts Blue Spotlight on Japanese Supplier – Pavel Alpeyev and Takako Taniguchi 4/24

Environment / Science

Economist – The Arctic as it is known today is almost certainly gone 4/29

  • “In the past 30 years, the minimum coverage of summer ice has fallen by half; its volume has fallen by three-quarters. On current trends, the Arctic ocean will be largely ice-free in summer by 2040.”

Asia – excluding China and Japan

Economist – Cleaning Up: Malaysia and Abu Dhabi strike a deal over 1MDB – 4/27

Middle East

Economist – The smell of burnt rubber: Saudi Arabia’s young prince U-turns on reform 4/27

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