bloomberg business
U.S. Shale Oil Boom Grinds to a Halt as OPEC Keeps Pumping
©2015 Bloomberg News NPNRWH6JIJV3 (Bloomberg) — The shale oil boom that turned the U.S. into the world’s largest fuel exporter and brought $3 gasoline back to America’s pumps is grinding to a halt. Crude output from the prolific tight-rock formations such as North Dakota’s Bakken and Texas’s Eagle Ford shale
Omega’s Cooperman Says There Is No Bubble in U.S. Stock Market
©2015 Bloomberg News NPL7CL6KLVR4 (Bloomberg) — The U.S. stock market isn’t overpriced and may gain as much as eight percent annually over the next three to five years even if there’s an economic setback, Omega Advisors Inc.’s billionaire founder Leon Cooperman said Sunday. “I think the market’s OK,” Cooperman, chairman
Even a Robot Would Be Wasted in These Useless Jobs: Noah Smith
©2015 Bloomberg View NPLH4I6JTSE8 (Bloomberg View) — Americans are worried about robots taking their jobs. Japanese people should be salivating at the prospect. Japan continues to power ahead in the field of robotics. Although Japanese companies have lost their dominance in fields such as consumer electronics and semiconductors, in robots
Goldilocks Farm Weather Makes Hedge Funds Most Bearish on Record
©2015 Bloomberg News NP7TSVSYF01T (Bloomberg) — Hedge funds accumulated the most bearish bet ever on crops from corn to soybeans after a mix of sunshine and rain created almost perfect growing conditions for U.S. farms. Across the Midwest, the weather’s been dry enough to get fieldwork done, with enough showers
No Time to Sell Israel Stocks as Goldman Sees Rates Set for Zero
©2015 Bloomberg News NP7V8N6JTSE8 (Bloomberg) — By several measures, the rally that’s driven Israeli stocks to all-time highs is no reason to sell. The 12-month price-to-estimated earnings on equities in Tel Aviv was at least 13 percent lower than in the U.S. and Europe. A key indicator based on the
Everyone’s Attacking Rand Paul and He Couldn’t Be Happier
©2015 Bloomberg News NP31XY6JTSEF (Bloomberg Politics) — Every few hours, the campaigns of Kentucky Senator Rand Paul send out a donor message about his fight against the PATRIOT Act. In each one, this coming Sunday is marked as a do-or-die moment to block the most loathed provisions of the law.
Google Takes New Stab at Mobile Payments With Android Pay
©2015 Bloomberg News NP320VSYF01U (Bloomberg) — Google Inc. has been trying to make its mark in mobile payments since 2011 without much success. Now, the Web company is betting that a new feature called Android Pay will help it challenge Apple Inc., which entered the fray last year. Android Pay,
Taper Tantrum Victims Make Way for New Trio of Fragile Countries
©2015 Bloomberg News NP31NB6JTSED (Bloomberg Business) — Morgan Stanley called them the Fragile Five. Brazil, India, Indonesia, South Africa and Turkey were the quintet of countries that suffered through a market rout two years ago after the Federal Reserve initially signaled it would reduce monetary stimulus — the so-called taper
Oil Pares Three-Day Slump as U.S. Crude Supply Glut Seen Easing
©2015 Bloomberg News NP1G6B6K50Y0 (Bloomberg) — Oil pared its biggest three-day decline since March before U.S. government data forecast to show crude stockpiles shrank for a fourth week. Futures gained as much as 0.6 percent in New York. Crude inventories probably dropped by 2 million barrels through May 22, a
Easiest Way to Cash in on China’s Stock Rally Is to Do Nothing
©2015 Bloomberg News NP1DFA6S972A (Bloomberg) — The best way to make money in China’s booming stock market has been, well, to do nothing. Simply buying and holding would have captured the 142 percent return in the Shanghai Composite Index over the past year, the best performance among 23 trading models