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Source: Common Domain

A prominent Wall Street permabear says the stock market is ‘stoned on free money’ and it could ‘prove fatal’

Friday 18:10 GMT

Albert Edwards, global strategist at Société Générale, cautioned on Thursday that stock markets were becoming “stoned on free money,” leaving them “detached from reality.” It’s a condition that the strategist says could “prove fatal,” in the end.

That is to say, he believes that central bankers’ inability to end easy-money policies that had been put in place to address the 2007-09 financial crisis could lead to more risk-taking on Wall Street that could lead to a fresh crisis.

Source: Reuters

Ariane 6 rocket sees first commercial deals in race with SpaceX

Friday 17:15 GMT

Ariane 6, Europe’s next-generation space rocket, is expected to win its first two commercial launch orders in coming weeks, company officials said, a key milestone as the European launcher vies for orders against Elon Musk’s U.S. competitor SpaceX.

Ariane 6, due for a first launch in 2020, was designed to save significant costs compared to Ariane 5, but industry experts say it will still cost around 70 million euros per launch - well above the rate offered by SpaceX, which uses reusable rocket technology and can count on larger U.S. orders.

Source: Fox News

Duke's Zion Williamson has $8M insurance policy against pre-NBA injuries: Report

Friday 17:15 GMT

Duke basketball phenom Zion Williamson has taken out insurance to protect his future earning potential against the exact type of injury scare he experienced when his Nike sneaker exploded during Wednesday night’s game against the North Carolina Tar Heels, according to a report.

Williamson, a 6-foot-7, 285-pound freshman known for his freakish athleticism, has an $8 million policy with International Specialty Insurance (ISI) that kicks in if he falls outside the top-16 picks in the 2019 NBA Draft due to injury, The Action Network’s Darren Rovell reported.

Source: Common Domain

Hedge funds hold smallest slice of stock market since 2012

Friday 14:30 GMT

“Coming into 2019, the percent of S&P 500 market cap owned by hedge funds was at the lowest level seen since 2012, and the percent of [Russell 2000] market cap owned by hedge funds was near its 2016 low,” wrote analysts led by Lori Calvasina, head of U.S. equity strategy, in a Thursday note.

An ugly fourth quarter for stocks saw hedge funds scale back their stacks in U.S. equities, according to one analysis of quarterly filings and other data.

Source: DW

Burundi rejects AU's troop pullout decision

Friday 16:20 GMT

Burundi and Somalia have called for an emergency summit to discuss the pullout of 1,000 Burundian troops from the African Mission in Somalia (AMISOM) before the end of the month.

Since 2007, Burundi soldiers have made the ultimate sacrifice, and I assure the people of Burundi, your soldiers' sacrifice will not go in vain," he said. "I thank the government and people of this great nation for your pan-Africanism to help your fellow African brothers and sisters in Somalia.

Source: Common Domain

Social Security’s earnings test is too complicated — and it discourages work

Friday 16:20 GMT

This last consideration helps explain why policy makers retained the earnings test for younger beneficiaries when they eliminated it for beneficiaries above the Full Retirement Age in 2000.

In response, economists and policy makers who want to encourage work at older ages often suggest reforming or eliminating the earnings test. However, studies show that changing the earnings test impacts not only labor-force participation and earnings, but also claiming patterns.

Source: DW

Kazakhstan's President Nursultan Nazarbayev fires government

Friday 15:25 GMT

Kazakhstan's President Nursultan Nazarbayev fired the government on Thursday over what he described as its failure to improve living standards and make positive changes in the country.

"In many areas of the economy, despite the adoption of many laws and government decisions, positive changes have not been achieved," Nazarbayev said. Nazarbayev, who has ruled since the country became independent after the 1991 collapse of the Soviet Union, wrote on the presidential website that he will soon propose "a range of measures to strengthen social welfare and raise people's quality of life."

Source: Fox News

Lifestyles of the rich and socialist: Bernie Sanders has 3 houses, makes millions

Friday 14:30 GMT

Sen. Bernie Sanders, I-Vt., entered the 2020 presidential race this week promising to transform America with a left-wing vision of economic and environmental justice.

BUT HE COULD KEEP TRUMP IN OFFICE FOR ANOTHER FOUR YEARS. "Our campaign is about transforming our country and creating a government based on the principles of economic, social, racial and environmental justice," he said.

Source: Common Domain

The Morning Risk Report: UBS Is Fined $4.2 Billion in French Tax-Evasion Case

Friday 14:30 GMT

French judges ordered UBS Group AG to pay a record €3.7 billion ($4.2 billion) fine for helping wealthy clients in France evade taxes, as Switzerland’s largest bank struggles to turn the page on legal entanglements stemming from its core wealth-management business.

UBS bankers in Switzerland used methods “worthy of James Bond,” prosecutors argued in court, to travel surreptitiously to France and meet with French clients at parties and other events organized by UBS bankers in France.

Source: Common Domain

Existing-home sales fall for third-straight month, hit a 3-year low

Friday 14:30 GMT

The numbers: Existing-home sales ran at a 4.94 million seasonally-adjusted annual rate in January, the National Association of Realtors said Thursday.

Still, there isn’t much more inventory than before: at the current pace of sales, it would take 3.9 months to exhaust available supply. First-time buyers haven’t made any progress, and even took a step back in January, making up 29% of all transactions during the month, well below their long-term average 40% share.

Source: DW

Can India become the next China for carmakers?

Friday 14:30 GMT

Send Facebook Twitter google+ Whatsapp Tumblr linkedin stumble Digg reddit Newsvine. With slowing demand in the world's top auto market, carmakers seem to be facing a bumpy road ahead.

Car sales in China have been plummeting and the persisting slump leaves automakers with few places to go for sales growth. India's economic and demographic trends make it a promising market.

Source: Common Domain

U.S. government bond yields retreat after data deluge, with Philly Fed in focus

Friday 13:35 GMT

Treasury prices pulled back Thursday, pushing up yields on signs of progress on U.S.-China trade talks and investors sorted through a deluge of economic reports.

The Philadelphia Fed manufacturing index, known as the Philly Fed, dropped sharply to -4.1 from 17 in the prior month — the first negative reading since May 2016. Orders for durable goods rose 1.2% in December, according to a government report delayed for more than a month due to the recently ended partial government shutdown.

Source: Common Domain

What Are the Property Tax Increases Being Considered in London?

Friday 11:46 GMT

A: The U.K. government is considering introducing a new 1% Stamp Duty Land Tax (SDLT) surcharge for non-residents buying homes in England and Northern Ireland, according to Elizabeth Small, partner at Forsters law firm in London.

There is no tax on the first £125,000 (US$162,858), then a 2% tax on the cost of the home from £125,001 to £250,000 and it goes up from there. The highest rate is 12%, which is charged on the cost of the property above £1.5 million, according to the U.K. government website.

Source: Common Domain

A 5% to 10% correction is vital for this stock market, warns Jefferies strategist

Friday 11:46 GMT

Are we nearing a point where we will finally see how much juice is left in this stock market from a trade-deal announcement?

A 5% to 10% correction would be welcome, and it would be justified,” said the strategist, adding that there’s plenty that could pull that correction trigger — a slowdown in China, Europe or the U.S., lower earnings estimates, profit declines, valuations pulling back.


“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte