Doom, Gloom and Unease: London's Tech Scene Reacts to Brexit
At Second Home, a co-working space for startups in a trendy part of East London, young tech workers were discussing the ramifications of the Brexit vote as a gourmet ice cream truck served fresh scoops out front Friday. Young people voted overwhelmingly to remain part of the European Union, according to exit polls, and many of those working in London's burgeoning tech scene were horrified by Britain's decision to break away."People were shocked when they woke up this morning," said Sophie Hill,..>> view originalSEC Sues 'Frack Master' for Investor Cash Spent on Strippers
Calling himself the “frack master,” Texas businessman Chris Faulkner charmed hundreds of investors and major media companies into believing he had extensive experience in energy markets.It turns out he had none and that at least $30 million he raised was spent on strippers, escorts, lavish vacations and other personal expenses, according to Wall Street’s top cop.Faulkner’s alleged transgressions include using money from his Breitling Energy Corp. to pay off an American Express card that he refe..>> view originalBritish Brace for Economic Repercussions of EU Exit Decision
LONDON — The British were warned for weeks that a vote to leave the European Union would result in economic pain. Now they'll find out.U.K. financial leaders are scrambling to reassure households, businesses and investors that they can contain the doom and gloom they had predicted in case of a British exit, or Brexit. The pound plunged to its lowest level in over 30 years on Friday, raising concerns about price inflation, and shares in the U.K.'s biggest banks and real estate builders posted d..>> view originalBrexit Rocks Stocks as Dow Falls 1.6%
Vital Signs Financial markets round the world slumped Friday, blindsided by the previous day’s stunning Brexit vote. The major U.S. stock indexes fell nearly 4% Friday and finished down over 1% on the week, after having been up 2% just before Thursday’s referendum. The U.K. decision to leave the European Union isn’t good for U.S. equity market sentiment in general, with investors already jittery about U.S. and global growth,...>> view originalCloser to the Brink for Social Security and Medicare
The trustees of the Social Security and Medicare trust funds reported last week that their funds are going to hell in a handcart, but not right away. That’s what they have always said, even while the trust-fund programs have grown to represent an unfunded liability of the federal government over the next 75 years of $11.7 trillion, up $700 billion from the last annual report. Publication of the trustees’ reports is an annual event that never gets the attention it deserves—especially in a presid..>> view originalWhat investment managers are saying about 'Brexit'
To star Los Angeles investor Jeffrey Gundlach, bull markets and bear markets aren’t about how much stocks have climbed or fallen, but about teamwork – whether players in the economy are working together.“Bull markets are about cooperation,” Gundlach, chief executive of downtown L.A. money manager DoubleLine, told CNBC during an interview Friday. “That’s what makes societies thrive. If we don’t cooperate at all, we’re all out there in the woods with a spear chasing a squirrel.” The landmark “Br..>> view original15 US stocks get absolutely crushed by 'Brexit'
USA TODAY's Matt Krantz takes a look at a handful of U.S. stocks that were hardest hit by the UK's decision to leave the European Union. Copies of the London daily newspaper the Evening Standard run the Brexit story on its front page in London, Britain, 24 June 2016. London's financial centre has reacted negatively following the news that Britain voted to leave the EU. Prime Minister David Cameron has also stated he will resign. EPA/ANDY RAIN ORG XMIT: ARA21(Photo: ANDY RAIN, EPA)The ..>> view originalWhy Finish Line Inc. Shares Popped Today
Image source: The Motley Fool. What: Shares of Finish Line Inc. (NASDAQ:FINL) jumped today after its first-quarter earnings report blew past expectations. As of 2:05 p.m. EDT, the stock was up 22.2%. So what: The athletic apparel retailer topped bottom-line estimates by a penny with a profit of $0.23 per share, while comparable sales increased 1.5%, driving an overall 2.3% increase in revenue to $453.5 million. That beat expectations of $451.9 million. CEO Sam Sato said the results were in lin..>> view originalEnergy Transfer Cleared to Walk Away From Williams Takeover
Billionaire Kelcy Warren just won a huge hand in the biggest M&A poker game he’s ever played in the U.S. oil patch.Eighteen months after Warren’s Energy Transfer Equity LP began talks to acquire rival pipeline giant Williams Cos., a Delaware judge ruled on Friday that the company can back out of the nearly $33 billion deal. The development marks the latest twist -- but probably not the last one -- in what has become the energy industry’s deal from hell. The proposed Energy Transfer-Williams tie..>> view original
Saturday, June 25, 2016
Doom, Gloom and Unease: London's Tech Scene Reacts to Brexit and other top stories.
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