Matt Levine’s Money Stuff: Benign Ownership and Opaque ETFs
©2016 Bloomberg View O3BAFL6JTSEF The Buffett letter Warren Buffett’s annual shareholder letter this weekend contained the requisite quantum of folksiness, but in some ways the most old-fashioned part was this description of the differences between Berkshire Hathaway and its occasional partners at 3G Capital: Their method, at which they have been extraordinarily
Places Where You Can Get a Job and Afford a House: Justin Fox
©2016 Bloomberg View (Bloomberg View) — The U.S. is a nation divided — divided between zip codes where economic times are good and zip codes where they really aren’t. This map was compiled by the Economic Innovation Group, a new Washington think tank with Silicon Valley backing. It’s based on
Oil Trades Below $33 as U.S. Explorers Idle More Rigs Amid Glut
©2016 Bloomberg News O3A7XP6TTDS0 (Bloomberg) — Oil traded below $33 a barrel as U.S. drillers cut the number of active rigs to the lowest level in more than six years amid a global glut. Futures slipped as much as 0.8 percent in New York after posting the biggest weekly gain
Trump Passes Up Chance to Disavow White Supremacist Support
©2016 Bloomberg News O3A5ER6K50XT (Bloomberg) — Billionaire real estate developer Donald Trump came under fire Sunday for passing up a chance to condemn former Ku Klux Klan leader David Duke and other white supremacists, as well as for retweeting a quote from Italian fascist Benito Mussolini. “I know nothing about David Duke,”
Trump’s Promises Don’t Hold Up to Fact-Checking: Albert R. Hunt
©2016 Bloomberg View O39NP56KLVR7 (Bloomberg View) — A powerful force driving Donald Trump and Bernie Sanders in the presidential race is the frustration of grass-roots voters that politicians in Washington haven’t kept their promises. QuickTakeHow the U.S. Elects Its Presidents Democrats, though still high on President Barack Obama, are upset
Matt Levine’s Money Stuff: Sovereign Bonds and Merger Misgivings
©2016 Bloomberg View O33WB46JTSEK (Bloomberg View) — Sovereign debt If you are an investment banker, your job, more than making money or avoiding risk or anything else, is to not miss deals. That is the measure of your worth as a banker and a person: If deals happen, did you do them? If
Apple Says IPhone Tech U.S. Wants Will Be Slow, Costly to Build
©2016 Bloomberg News O34TES6K50ZF (Bloomberg) — Ten engineers and a month of work — that’s what it could take for Apple Inc. to write the program the FBI says it needs to crack the San Bernardino terrorist’s iPhone. In a court filing responding to a government request that it help
Final BP Spill Defendant Cleared of U.S. Pollution Charge
©2016 Bloomberg News O34T5K6K50YG (Bloomberg) — A former BP manager charged with violating U.S. pollution law over the 2010 Gulf of Mexico oil spill was cleared by a New Orleans jury, thwarting federal prosecutors’ last chance to jail someone over the disaster. Robert Kaluza, a well-site manager who wasn’t on
Islamic State Releases Video Targeting Facebook, Twitter CEOs
©2016 Bloomberg News O32V6A6JIJV0 (Bloomberg) — Islamic State has released a new video that targets the chief executive officers of Facebook Inc. and Twitter Inc. The 25-minute clip shows the faces of Facebook’s Mark Zuckerberg and Twitter’s Jack Dorsey riddled with mock bullet holes, according to the Guardian newspaper and
Netanyahu Isn’t Quite Right on the Constitution: Noah Feldman
©2016 Bloomberg View O32JL96KLVRR (Bloomberg View) — It isn’t often that a sitting prime minister offers a lesson in comparative constitutional law. But Israel’s Benjamin Netanyahu did so Monday while defending a bill that would allow three-quarters of the Knesset to expel a member who “supports terrorism by word or