Dr. Ed's Blog

Dec 30 (Saturday)

Markets
Everything Went Right for Markets in 2017—Can That Continue? (W)

Europe
Marine Le Pen’s year of hope ends in turmoil (FT)

Japan
The Japanese Economy Could Get a Boost in 2018 From Bitcoin’s Surge (B)

China
China Resists U.S. Efforts to Blacklist Ships Through U.N. (W)
In Sign of Resistance, Chinese Balk at Using Apps to Snitch on Neighbors (W)

US politics
IRS Issues Tax Rate Guidance for Stockpiled Foreign Income (B)
Trump Criticizes Post Office for Charging Amazon ‘So Little’ (W)

Industries & companies
FANGs: Apple Apologizes for Handling of iPhone Battery Issue (W)
Financials: Goldman to Take Short-Term Hit for Long-Term Gain Over Tax Law (W)
Tech: Inside Look at Uber Financials (W)

Technology
Alexa and Google Home fall short of real conversation (FT)

Cryptocurrency
Ripple’s 53% Surge Makes It the Second-Biggest Cryptocurrency (B)
Bitcoin ransom of $1m paid for cryptocurrency boss (FT)

Dec 29 (Friday)

Markets
Vietnam Surges, China Disappoints in Stellar Year for Asian Stocks (B)
Asset-Backed Bonds Are Getting Too Rich for Some Investors’ Tastes  (B)
Small Caps a Hard Sell for Wall Street in 2018, Despite Tax Cuts (B)

Central banks
Two of Fed’s Newest Faces to Join Rate-Setting Panel in 2018 (W)
Concerned About the ECB Taper? Britain’s Case Should Calm Nerves (W)

US
Trouble ahead? What 4 recession indicators say about the economy (MW)

Europe
Italian Election to Lay Bare the Country’s Problems (W)

China
China may be a bigger worry for 2018, analysts say (C)
Don’t rejoice when China exports ‘bad’ inflation (FT)
Tech in 2018: Will China’s Cowardly Lions Get Some Courage? (W)

US politics
Local Governments Try to Decipher Latest Tax Guidance (W)
The IRS’s Guidance on Property Taxes Has the U.S. Confused (B)

Geopolitics
Trump says China ‘Caught RED HANDED’ allowing oil into North Korea (R)

Industries & companies
FANGs: Apple Apologizes for Handling of iPhone Battery Issue (W)
FANGs: Netflix’s Cash Bonuses Become Salary Thanks to New Tax Plan (B)
Financials: It’s the Moment Insurers Have Waited For: Time to Hike Rates (W)
Financials: Citigroup to pay $11.5m over false stock ratings (FT)
Industrials: China Aircraft to Buy 50 Airbus Jets Valued at $5.42 Billion (B)

Corporate finance
CEOs go M&A hunting as booming markets unleash dealmaking spirits (R)
SoftBank Succeeds in Tender Offer for Large Uber Stake (W)

Cryptocurrency
Crypto-Linked Stocks Sink With Bitcoin on South Korean Warning (B)
Bitcoin Is an Implausible Currency (B)
Get Set for Petro, Venezuela’s Cryptocurrency Answer to Bitcoin (B)

Offbeat
America’s Deep Freeze Is Aiding Coal and Sending Power Surging (B)

Dec 28 (Thursday)

Markets
Flattening U.S. Yield Curve Nears Decade Lows in Final 2017 Push (B)
Paulsen, A One Time Super Bull Is Getting Worried About the Stock Market (W)
The Pessimist’s Guide to 2018 (B)

Central banks
Former Bush-Era Economists Considered for Fed’s No. 2 Job (W)

US
Consumer Confidence Dips in December (W)
When Will the Next Recession Begin? Maybe Soon, Or Maybe Not (W)
IRS Says 2018 Property Taxes Are Deductible if Assessed (W)

Japan
Dark Pools Are on the Rise in Japan (B)

Emerging economies
China’s New Tax May Hit Hedge Funds More Than Investment Rivals (B)
Mexico Chalks Up $399 Million November Trade Surplus (W)

US tax reform
Tax Bill Will Deliver a Corporate Earnings Gusher (B)
Shell, Barclays Detail Billions in Tax-Linked Charges (W)
Barclays and Shell warn of hits from Trump tax bill (FT)

US politics
Republicans under pressure to act on healthcare (FT)
House Committee Unites to Clamp Down on Indian Firms’ Use of H-1B Visas (W)
Democrats Struggle to Convert Voter Enthusiasm Into Cash Contributions (W)

Geopolitics
Nafta ‘Unpredictability’ Is Keeping Trudeau Awake at Night (B)
Chinese ships accused of breaking N Korea sanctions (FT)

Industries & companies
Autos: Nissan Makes Unconventional Bet on Rental-Car Market to Boost U.S. Sales (W)
FANGs: Apple Boosts Pay of CEO Cook, Other Executives (W)
Financials: JPMorgan to Pay $2.8 Million for Failing to Segregate Customer Funds (W)
Pharma: Drug Maker Teva Faces a Crisis (N)
Retail: Restoration Hardware Boss Bets $1 Billion to Fight Skeptical Investors (W)
Tech: Startups Seek Tech Solution to Net Neutrality Repeal (W)

Corporate finance
Global number of IPOs highest since financial crisis (FT)

Technology
Tech That Will Change Your Life in 2018 (W)
A Tech-Driven Boom Is Coming; Please Be Patient (W)
The Robots Are Coming, and Sweden Is Fine (N)
How Big Tech Is Going After Your Health Care (N)

Offbeat
Pot Stocks Soar as California Gets Ready to Get High (B)
California Marijuana Start-Ups, Shut Out From Banks, Turn to Private Backing (N)

Dec 27 (Wednesday)

Markets
A Banner Year for Corporate Debt (W)
The Next Big Trade for Bond Investors Is Betting on U.S. Homeowners (B)
Commodities Are ‘Screaming to Be Bought’ (B)
Metals: Copper Rises, Buoyed by Demand Hopes (W)

Central banks
Can Central Banks Keep Control of Interest Rates? (W)

US
Home Prices Jump in October (W)
Post-Holiday Rush: Homeowners Line Up to Prepay Tax Bills (W)

Japan
Slow and Steady: Japanese Inflation Creeps Higher (W)
Five Years of Abenomics: The Good, the Bad and the Sluggish (B)
Unemployment in Japan hits 24-year low (FT)

China
China’s Top Decision Makers Pledge Personal Loyalty to Xi Vision (B)
China Bets on More State Control for 2018 (B)
China Snares Innocent and Guilty Alike to Build World’s Biggest DNA Database (W)
China Takes Another Green Step Forward (W)

Emerging
Emerging Markets’ Dream Run Could See a Reality Check in 2018 (B)

US politics
Trump Administration’s Next Big Push: Infrastructure Rebuilding (W)

Industries & companies
Airlines: New Cost-Cutting Strategy for Airlines: Buy Planes in Bulk (W)
Autos: Latest Entrants Into Electric Car Race: Makers of Post-Its, Paint (W)
Autos: Autonomous Cars Need Tougher Batteries, Lithium-Ion Pioneer Says (B)
FANGs: Apple Changes Business of Selling Your Browsing Data (W)
Financials: Tax Law Could Further Slow Down a Bank Favorite: Jumbo Mortgages (W)
Media: Disney-Fox Deal Gives Glimmer of Hope for Movie Lovers (W)
Media: ‘Last Jedi’ Weekend Slump Is Second-Worst Among Star Wars Films (B)
Retail: Retailers Offer Myriad Returns Options to Retain Customers (W)
Tech: Chip Makers Aren’t Stacking Bets on Cryptocurrencies (W)

Corporate finance
Mallinckrodt to Buy Sucampo Pharmaceuticals for About $840 Million (W)

Technology
FT Series: The end of ownership (FT)

Cryptocurrency
Bitcoin Catches U.S. Regulators Off Guard (W)
Japan and South Korea at heart of cryptocurrency fever (FT)

Offbeat
Wildfires Scorch California Earth, and Its Air (W)
HQ Trivia App Puts On-Demand Generation on a Strict Schedule (W)

Dec 23 (Saturday)

Markets
S&P 500 set to break record with ‘perfect’ calendar year (FT)
Energy Investors: Behold the Miracle of the Tax Law (W)

US
U.S. New-Home Sales Surged in November to Highest Since 2007 (B)
U.S. Consumer Spending Rises, Savings Rate at 10-Year Low (W)
Demand for U.S.-Made Durable Goods Rises in November (W)
Subprime Auto Defaults Are Soaring, and PE Firms Have No Way Out (B)

Japan
Births in Japan drop to lowest level on record (FT)

US politics
With Tax Overhaul, Trump and the GOP Hit Reset on the Year (W)
Tax Cuts to Cost $1 Trillion After Growth, Official Study Finds (B)
Timing Is Vital as Companies Set Bonuses, Spending Before New Tax Law (W)
Billion-Dollar Writedowns Pile Up as Companies Analyze Tax Bill (B)
McConnell Unlikely to Tackle Entitlements in 2018 (W)

Industries & companies
Financials: Bank Stocks Need More Than Tax Cuts to Sustain Their Rally in 2018 (B)
Retail: Stores Have Edge Over Web in Fight for Last-Minute Shoppers (W)
Wireless: Apple’s New iPhones Get a Lukewarm Reception From Buyers (W)

Corporate finance
Boeing’s Attraction to Embraer: Following Airbus’s Flight Path (W)

Cryptocurrency
Bitcoin Plunges 25% in 24 Hours in Cryptocurrency Rout (W)
The History of Bitcoin Crashes Shows This Selloff Could Get Worse (B)

Dec 22 (Friday)

Markets
Are There Any Stock Bears Left in America? (B)

US
U.S. economy grows at fastest pace in more than two years (R)
U.S. Output Grew 3.2% in Third Quarter (W)
How the Cost of Rent Is Keeping Inflation in Check (W)
Fed Study Finds Continued Growth in Credit-Card Payments (W)
What the Reagan, Bush Tax Cuts Tell Us About Revenues (W)

Europe
Separatists claim narrow victory in Catalan election (FT)

China
Tech Titans Wage War in China’s Next Internet Revolution (W)

US politics
After Federal Overhaul, States Weigh Changes to Their Tax Codes (B)
Ryan Pushes Trump to Follow Tax Win With U.S. Welfare Revamp (B)
For Heavily Indebted Firms Like Dell, Tax Bill Delivers a Downside (W)
The Internal Divide Behind Trump’s CFPB Takeover (W)
Obamacare Sign-Ups Stay Strong at 8.8 Million Amid Obstacles (B)
House Democrats rally to protect Special Counsel Mueller (R)

Geopolitics
China’s HNA Faces Calls for Probe of U.S. Deals (W)
U.N. Rebukes U.S. for Jerusalem Move (W)
Trump Threatens Countries That Oppose His Decision on Jerusalem (W)

Industries & companies
Airlines: Boeing, Embraer in Talks Amid Scramble for Regional Jets (W)
FANGs: Apple Is the Most Valuable Public Company Ever. But How Much of a Record Is That? (N)
FANGs: Alphabet’s Eric Schmidt to step down as executive chairman (R)
Financials: Fannie Mae, Freddie Mac receive $3 billion capital cushion (R)
Pharma: Diabetes Is Officially the Messiest Drug Market (B)
Restaurants: Papa John’s Founder to Step Down as CEO (W)
Retail: Sorry. Wrap It Yourself, Say Overwhelmed Online Shops (W)
Retail: Wal-Mart Suspends Shoplifting Punishment That Court Called ‘Extortion’ (W)

Corporate finance
China’s Didi Chuxing Raises $4 Billion in New Funding (W)
Spotify Closes In on Unusual IPO That Boxes Out Bankers (W)

Cryptocurrency
Goldman Is Setting Up a Cryptocurrency Trading Desk (B)
Cryptocurrency Founder Tries a New Play: Sell It All (W)
Singapore cryptocurrency cafe launches as regulators sound warnings (R)
Iced tea maker soars 500% after pivot to blockchain (FT)

Technology
Apple Is Developing an EKG Heart Monitor for Its Smartwatch (B)
Self-driving cars face a new test: snow (FT)

Dec 21 (Thursday)

Markets
Tax Bill Injects Calm Into Markets (W)
The Global Bond Market Is Having a Lousy Year-End (B)

Central banks
The challenges Yellen bequeaths Powell (Brookings)

US
Is Record High Consumer Debt a Boon or Bane? (FRB-SL)

China
China Shapes Economic Blueprint Around ‘Xi Jinping Thought’ (W)

US politics
Sweeping Tax Bill Heads to Trump for Signature (W)
Tax Bill Fixes Some Problems, but Exacerbates Others (W)
How the new tax bill encourages tax avoidance (Brookings)
Democrats Prepare to Run Against the GOP ‘Tax Scam’ in 2018 (B)
Senators Threaten Filibuster to Block Key Surveillance Law (W)

Geopolitics & cybersecurity
U.S. Seeks U.N. Ban on Ships Helping North Korea Dodge Sanctions (W)
North Korea Suspected in Theft at Bitcoin Exchange (W)

Industries & companies
Autos: Subaru Probes Potential Fabrication of Fuel-Economy Data (W)
FANGs: Amazon Puzzles Over the Perfect Fit—in Boxes (W)
Financials: Biggest financial regulation stories of 2017, and what to watch in 2018 (Brookings)
Tech: Big Tech Unlikely to Blow Tax Bonus (W)
Tech: The Outlook for Tech Stocks Grows Dimmer for 2018 (B)
Wireless: AT&T Will Give Workers $1,000 Bonuses to Celebrate the Tax Bill (B)
Real estate: Investors weighing if industrial real estate’s hot streak to continue (P&I)
Restaurants: Chipotle Falls on Report of Possible Outbreak at L.A. Restaurant (B)

Corporate finance
BlackBerry Starting to Cast Closer Look at Acquisitions to Bolster Growth (W)

Cryptocurrency
Bitcoin Price Plunges, Recovers as Bitcoin Offshoot Blasts Off (W)
BANK OF AMERICA: Bitcoin is the ‘most crowded’ trade (BI)
MORGAN STANLEY: Investors pumped $2 billion into crypto funds this year — and 2018 will be bigger (BI)
What These Obscure Companies Were Doing Before They Pivoted to Crypto (B)

Offbeat
Worker ‘Idle Time’ Costs U.S. Employers $100 Billion a Year, Study Says (W)

Dec 20 (Wednesday)

Markets
The last time stocks were this quiet was the year the Beatles went on Ed Sullivan (MW)
U.S. Treasury Sales Are About to Double 2018. Who’s Buying? (B)

US
U.S. Housing Starts Grew In November (W)
Drug and Alcohol Deaths at U.S. Workplaces Soar (W)
For roughly half of Americans, the stock market’s record highs don’t help at all (WP)

Japan
Kuroda Remains in Front in Guessing Game for Who Will Run BOJ (B)

China
China, Seeking Growth, Softens Focus on Cutting Debt (W)
Twelve Days in Xinjiang: How China’s Surveillance State Overwhelms Daily Life (W)

US politics
GOP Tax-Overhaul Bill Heads to Senate (W)
House to Vote Again on Tax Bill Tomorrow After Procedural Snag (B)
What the Tax Bill Means for Pass-Through Business Owners​ (W)
Tax Cuts to Test Republicans’ Economic Pledges (W)
Collins Slams News Coverage of Her Tax Vote as ‘Unbelievably Sexist’ (B)

Geopolitics & cybersecurity
Trump’s New National-Security Policy: Paper Tiger or Hidden Dragon? (W)
U.S. Blames North Korea for ‘WannaCry’ Cyberattack (W)

Industries & companies
FANGs: Germany Says Facebook Abuses Market Dominance to Collect Data (W)
Financials: A Massive Margin Loan That Went Really Wrong for Banks (W)
Shipping: FedEx Boosts Annual Forecast Amid Strong Start to Holiday Season (B)

Corporate finance
Blue chips drive borrowing binge to record $6.8tn (FT)

Cryptocurrency
Cryptocurrency Exchange Collapses, Files for Bankruptcy After Hack (W)
Good News! You Are a Bitcoin Millionaire. Bad News! You Forgot Your Password (W)
Bitcoin is big. But fedcoin is bigger. (WP)

Technology
Forget Phones. BlackBerry Is Pushing Software for Driverless Cars (W)
Amazon Echo Prices Turn Market on Its Ear (W)

Offbeat
Derailed Amtrak Train Was Traveling at 80 MPH in a 30 MPH Zone (W)
Atlanta Airport Blackout Exposes a Flaw in Backup Power Systems (W)
Retiring Early Just Might Kill You, Says New Research (B)

Dec 19 (Tuesday)

Markets
Money Markets Are Going Haywire, Blame the Government (W)
Tax Bill Jolts Municipal Bonds (W)
Tax Cuts Alone Didn’t Spur This Bull Market, Credit Suisse Says (B)

Central banks
Fed’s Williams: Economy Heading Into 2018 With Good Momentum (W)
Fed’s Kashkari Warns Rate Rises Could Drive Economy Into Recession (W)

US
Homeowners Have Had It Good. Too Good, Says the Tax Bill. (N)
Trump Says Train Derailment Bolsters Case for Infrastructure Plan (B)
Divorce Is Making American Families 66% Bigger (B)

Europe
The future of Italy, in the words of voters (FT)
EU and disassembling Ikea’s tax-driven structure (FT)

Japan
Japan Tiptoes Out of Radical Experiment in Monetary Policy (W)

US tax reform
This One Weird Tax Trick Could Raise GDP, Shrink the Trade Deficit (W)
Tax Overhaul Strikes at Rich Tech Giants’ Overseas Profits (W)
These Are the Tricks States May Use to Get Around the SALT Deduction (B)
Sweeping Rewrite of Tax Code Sets Up Years of Challenges (W)

US politics
US lawmakers shaken as #MeToo engulfs Congress (FT)

Geopolitics
Trump Says ‘Unrivaled Power’ Is Key to U.S. Defense Strategy (B)
Trump’s National Security Focus Shifts to Russia, China (W)
Trump to accuse China of ‘economic aggression’ (FT)
China Flies Military Aircraft Into Airspace Claimed by Seoul (W)

Industries & companies
FANGs: Google’s Record Fine of $2.8 Billion Was a ‘Deterrent,’ EU Says (B)
Financials: Citi and BofA among US groups facing $50bn tax plan hit (FT)
Media: Disney Is Weighing Two Internal Candidates to Lead ESPN (B)
Retail: Bankrupt Toys ‘R’ Us Considers Closing at Least 100 Stores (B)
Tech: Seven and a Half Reasons to Be Optimistic About Tech in 2018 (B)
Tech: Why Big Tech wants to keep the net neutral (FT)

Corporate finance
Oracle to Buy Software Maker Aconex (W)
Thales to Buy Chip Maker Gemalto (W)
Tencent Teams Up With JD.com to Take on Alibaba (W)
HNA Group Seeking Sale of $6 Billion in Overseas Property (W)

Cryptocurrency
Investors Shell Out $700 Million for Coins With ‘No Purpose’ (W)
Sen: Crypto Mania Is About to Start Having an Impact on the Real Economy (B)

Dec 18 (Monday)

Markets
Stocks Stampede to New Highs on Tax News (BR)
Can the Passive Juggernaut Roll On? (BR)
Shaking Up the Market for Municipal Bonds (BR)

Central banks
Cutting Taxes and Raising Rates (BR)
BoJ meeting to end active month for central banks (FT)

US
U.S. Industrial Production Rose 0.2% in November (W)
Prosecutors Treat Opioid Overdoses as Homicides, Snagging Friends, Relatives (W)

Europe
Brussels probes Ikea in tax avoidance crackdown (FT)

US tax reform
GOP Is Poised to Pass Sweeping Tax Overhaul (W)
Mnuchin Defends GOP Tax Bill, Predicts Swift Passage (W)
Deduction Rollback Hurts High-Tax States, But Exodus Isn’t Assured (W)
Corporate Winners and Losers in GOP Tax Bill (B)
US companies set to be big Trump tax bill winners (FT)
American business has concerns on tax reform (E)

US politics
Government Shifts Gears on Fannie Mae, Freddie Mac (W)
Cornyn Says It ‘Would Be a Mistake’ to Fire Mueller (B)

Geopolitics, trade, & terrorism
How China’s “sharp power” is muting criticism abroad (E)
China Holdings of U.S. Treasuries Rise (B)
Putin Thanks Trump for Intelligence About Planned Terror Attack (W)

Industries & companies
Autos: The Fast and the Financed: China’s Well-Funded Auto Startups Race to Overtake Tesla (W)
Financials: Banks to Funds: Have Some Leverage With That Deal (W)
Financials: U.S. Insurers Win ‘Bermuda Loophole’ Fight (W)
Media: Get Ready for a Faster, Pricier and More Confusing Internet (W)
Media: Disney’s `Last Jedi’ Blasts Its Way to $220 Million Opening (B)
Media: New Day for Media Stocks With Disney-Fox Deal (BR)
REITs: REITs on the Rebound: Where to Shop Now (BR)

Corporate finance
Humana and PE Firms in Talks to Buy Kindred Healthcare (W)
Why Refiners Are Expected to Give Their Tax Savings Right Back to Shareholders (W)
Chinese IPOs in the U.S. Are Saddling Investors With Big Losses (W)

Cryptocurrency
Bitcoin Futures Manipulation 101: How ‘Banging the Close’ Works (W)

Offbeat
America’s Public Company Accounting Oversight Board gets a new boss (E)