Why the U.S. Treasury Hides Its Saudi Investor: Stephen Mihm
©2016 Bloomberg View O1ZRY26S972B (Bloomberg View) — Plunging oil prices and widening budget deficits have forced Saudi Arabia to look for new sources of revenue: The kingdom has dumped at least $100 billion of its foreign exchange reserves and is even considering selling part of the government-owned oil company Saudi
Matt Levine’s Money Stuff: Yahoo, Drugs and Argentine Bonds
©2016 Bloomberg View O1Z5LV6KLVRT (Bloomberg View) — Yahoo!?? The last time Ilooked at Yahoo, in December, I calculated that the after-tax equity value of its actual businesses, outside of Alibaba and Yahoo Japan, was about $1.7 billion. It turns out that Yahoo was also looking at the value of its
Dollar Suffers Worst Day in 7 Years as Traders Face Fed Reality
©2016 Bloomberg News O1ZSAS6KLVRD (Bloomberg) — The dollar plunged by the most since the Federal Reserve announced the start of its Treasury bond-buying program seven years ago, as signs of a slowing U.S. economy helped derail bets on diverging policies between global central banks. The U.S. currency sank at least
If You’re Wondering How Low U.S. Gas Can Go, Check the Rig Count
©2016 Bloomberg News O1Y4WE6K50Y9 (Bloomberg) — U.S. natural gas just fell below $2 per million British thermal units for the third time in three months and futures are at the lowest level for this time of year since 1999. For an idea of how long this rout will last, consider
Clinton Seeks to Reassure Democrats With Sanders Ready for Fight
©2016 Bloomberg News O1Y3RX6KLVRJ (Bloomberg) — Hillary Clinton tried to reassure Democrats she’s still best positioned to win in November after her razor- thin victory over Bernie Sanders in Iowa only served to boost the challenger’s fundraising and momentum heading into the New Hampshire primary. Facing the same anti-establishment voter
Shanghai Shows How Not to Start a Startup Culture: Adam Minter
©2016 Bloomberg View O1U7SJ6JTSE9 (Bloomberg View) — “Risk-averse venture capitalist” might sound like a contradiction in terms, but in Shanghai it’s precisely the sort of financier the city is looking to attract. Starting Feb. 1, the city plans to reimburse venture capitalists for losses up to 6 million yuan ($912,000)
Cruz Upsets Trump in Iowa Caucuses; Clinton Scrapes Victory
©2016 Bloomberg News O1X6JWSYF01S (Bloomberg) — Senator Ted Cruz of Texas won Monday’s Iowa Republican caucuses in an upset over billionaire Donald Trump, while Democrat Hillary Clinton eked out the narrowest of wins over Senator Bernie Sanders of Vermont. Senator Marco Rubio of Florida exceeded expectations with a third-place finish
Google Search Probe by U.S. Should Get New Look, Utah Says
©2016 Bloomberg News O1WCI86VDKHT (Bloomberg) — U.S. antitrust officials should consider revisiting their closed investigation into Google’s search practices in light of claims by the European Union that the company manipulates results, said Utah’s attorney general. The Federal Trade Commission’s decision in 2013 not to bring a case against the
Free Trade Is Bipartisan Target in 2016 Election: Albert R. Hunt
©2016 Bloomberg View O2WOG46JTSE9 (Bloomberg View) — Any doubts that Donald Trump has had a huge (as he might say) influence on the Republican Party were dispelled this month when Senator Rob Portman came out against the Trans-Pacific Partnership. There is no more respected member of what’s called the Republican
How to Know If You Should Buy or Sell Amazon: Barry Ritholtz
©2016 Bloomberg View O1U7S96S9728 (Bloomberg View) — After Amazon.com missed analysts’ quarterly profit forecasts Thursday, investors lopped as much as 10 percent off of its stock price, the most in a year. The company reported fourth-quarter net income that more than doubled to a record $482 million from a year earlier;