Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Just a few hours ago Greek PM Tsipras addressed his nation imploring then to “remain calm” and reassuring them that their “deposits were safe.” It appears the Greeks did not believe him. Many were wondering where the Greek bank lines were for the past several months. Turns out the local depositors were merely waiting until…
Greek banks are to remain closed and capital controls will be imposed, Prime Minister Alexis Tsipras says. Speaking after the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks, Mr Tsipras said Greek deposits were safe. Greece is due to make a €1.6bn (£1.1bn) payment to the International Monetary Fund…
[Rendering via VisualHouse.] There are a lot of really, really expensive apartments poised to enter the market in the next few years (we’re lookin’ at you, 220 Central Park South and Nordstrom Tower) that will join the ranks of the city’s already-inundated luxury market. A few questions have been floating around for a while: when’s…
While the turmoil that rocked bond and currency markets in past weeks has been mostly absent from equities, it won’t be forever, options traders speculate. They’re building hedges against equity swings to levels not seen in eight months, according to contracts tied to the benchmark gauge for U.S. stock volatility. Judging by the most popular…
Britain’s top credit rating is at risk because of Prime Minister David Cameron’s planned European Union referendum, according to Standard & Poor’s. In a statement on Friday, S&P lowered the outlook on the country’s AAA rating to “negative” from “stable.” That means there’s a one-in-three chance of a downgrade in the next two years. It…
“We believe in a strong dollar policy.” It’s a phrase that’s been stated seemingly since the beginning of time. It was famously in vogue during the 1990s when many, including U.S. Treasury Secretary Robert Rubin, would recite the hope and fond wishes of this world-be-damned policy. Secretary John Snow also believed in a strong dollar even as it descended…
[if (lt IE 9) & (!IEMobile)]> One Florida man’s unemployment claim could help take down a unicorn. In April, Darrin McGillis filed for unemployment benefits from Uber, claiming that he was unable to continue driving for the company after his vehicle was damaged. Uber is already facing a handful of lawsuits alleging that drivers should…
AD ads_sharebox_260x60 SAUL LOEB via Getty Images Entry Text There are few people in Congress who criticize big Wall Street banks more than Sen. Elizabeth Warren (D-Mass.) does. A former Harvard bankruptcy law professor, she is the architect of the Consumer Financial Protection Bureau and chaired the government panel that oversaw the Troubled Asset Relief…
Photo: David Paul Morris/Bloomberg/Getty Images According to a new report, minorities who work in retail earn less and are less likely to be promoted than their white counterparts. The study, released yesterday by the NAACP and public-policy group Demos, found that retailers pay black and Latino full-time salespeople about 75 percent of what they pay…
Women work all the time, too. But colleagues are more likely to judge them for it than male counterparts. (Photo by Flickr user Matthew Hurst) Americans work an average of roughly 1,836 hours each year, up nearly ten percent from 1,687 in 1979. Labor economists expect this number to keep growing, especially in competitive fields with high…