IBM Agrees to Pay Globalfoundries $1.5 Billion to Take Chip Unit
Bloomberg – 5 hours ago
International Business Machines Corp. agreed to pay Globalfoundries Inc. $1.5 billion to take an unprofitable chip-manufacturing unit off its hands, according to two people with knowledge of the matter.
@TheStalwart: Take my struggling chip foundry, please! [link]
Business Insider: IBM To Make A ’Major’ Business Announcement Tomorrow
Crossing Wall Street: IBM News
@JacobWolinsky: RT @pmarca: Bloomberg reporting IBM is paying $1.5 billion to split off its chip manufacturing business: [link]
@EddyElfenbein: Bloomberg sounds like they’re sure: "IBM Agrees to Pay Globalfoundries $1.5 Billion to Take Chip Unit" [link]
@newsycombinator: IBM Paying Globalfoundries $1.5B to Take Unit in Retreat from Chips [link]
@Techmeme: IBM Agrees to Pay Globalfoundries $1.5 Billion to Take Chip Unit (Bloomberg) [link] [link]
Presumed Guilty in China’s War on Corruption, Targets Suffer Abuses
New York Times – 3 hours ago
China is in the midst of a scorching campaign against government corruption, but its system of investigation often operates in secret and beyond the law, leading to abuses suffered by the officials being targeted.
@larsonchristina: Presumed Guilty: @AndrewJacobsNYT and @ChuBailiang on Chinese officials accused of graft suffering pre-verdict abuse: [link]
@panphil: Waged in name of rule of law, Xi Jinping’s anti-corruption campaign operates beyond the law in China. [link] Great read.
@prchovanec: Reading this, I was struck by how much Xi Jinping’s anti-corruption campaign reminds me of Bo Xilai’s [link]
Seeking a Cause After a Benchmark Bond’s Unnerving Move
New York Times – 9 hours ago
Across Wall Street, experts are still trying to determine the reasons behind the 10-year Treasury note’s volatility on Wednesday, which stunned investors and traders.
@NickTimiraos: Why did the 10-year drop suddenly last Wednesday shortly after 9 am?[link] via @petereavis
@MichaelKitces: RT @NickTimiraos Why did the 10-year drop suddenly last Wednesday shortly after 9 am?[link] via @petereavis
@Convertbond: RT @NickTimiraos: Why did the 10-year drop suddenly last Wednesday shortly after 9 am?[link] via @petereavis
@Kelly_Evans: RT @NickTimiraos: Why did the 10-year drop suddenly last Wednesday shortly after 9 am?[link] via @petereavis
Keynes’ asset management: King’s College, 1921–1946
VOX – 3 hours ago
Why Inequality Matters
gatesnotes.com – 6 days ago
Bill Gates reviews Thomas Piketty’s book “Capital in the Twenty-First Century”
@planetmoney: MT @jacobgoldstein: World’s richest man reviews world’s best-selling book on inequality [link]
@TFMkts: RT @moorehn: Bill Gates, specifically, takes issue with Piketty’s r>g.[link]
reddit/Economics: Why Inequality Matters - Bill Gates
Marginal Revolution: Assorted links
@mccarthyryanj: Bill Gates on Piketty. Worth reading [link]
@mattbish: What @billgates thinks about the Piketty book [link]
@NickTimiraos: .@BillGates on Piketty’s Capital: There’s a lot to like but tax consumption instead of capital [link] [link]
FT Alphaville: Further reading
@ModeledBehavior: RT @ryanavent: Pause to imagine Bill Gates skyping with Thomas Piketty: [link]
@TheIntuitInvest: RT @wcgortel: "Piketty does not give a full picture of how wealth is created and how it decays" [link]
@crampell: .@billgates weighs in on inequality and Piketty: [link]
@jimpoco: .@BillGates ruminates on income inequality and Piketty’s Capital: [link]
@maoxian: “No one on the Forbes 400 has ancestors who bought a great parcel of land in 1780 & have been collecting rents since” [link]
@ryanavent: Pause to imagine Bill Gates skyping with Thomas Piketty: [link]
@DanielAlpert: Gates confuses the issue of use of wealth w/its inequality "@crampell: @billgates weighs in on inequality & Piketty: [link]"
@newsycombinator: Bill Gates Reviews Piketty’s Capital in the 21st Century [link]
@moorehn: Bill Gates Skyped with Thomas Piketty. It’s great. [link]
Top Financial Blogs That Move The Market
newsmovingmarkets.com – 4 hours ago
@JacobWolinsky: RT @Dvolatility: Top Financial Blogs That Move The Market [link] my list with a live feed
@MichaelKitces: RT @JacobWolinsky RT @Dvolatility Top Financial Blogs That Move The Market [link] my list with a live feed
@Dvolatility: Top Financial Blogs That Move The Market [link] my list with a live feed
This Age of Derp
New York Times – 8 hours ago
We are not having a real discussion.
Abe balances tax rise against economic damage
Financial Times – 9 hours ago
Shinzo Abe has hinted that he may delay increasing Japan’s consumption tax, saying the move would be “meaningless” if it inflicted too much damage on the country’s economy. In an interview with the Financial Times, Japan’s prime minister, s...
Microsoft Plans To Launch A Wearable Device Within Weeks
Forbes – 7 hours ago
The cross-platform smart watch will passively monitor heart rate and have a battery life of more than two days, sources say.
@Techmeme: Microsoft plans to launch a smartwatch in the next few weeks with two-day battery life [link] [link]
@HamzeiAnalytics: RT @DRUDGE_REPORT: MICROSOFT plans to launch smartwatch within weeks... [link]
@IvanTheK: Made from surplus Zune parts. RT @Jesse_Livermore: Microsoft planning to launch smartwatch within weeks: [link]
Barroso warns Britain it would be irrelevant outside EU
Financial Times – 5 hours ago
The outgoing president of the European Commission will on Monday fire a parting shot at David Cameron, warning Britain will lose almost all relevance in the world if it leaves the EU. The provocative remarks from José Manuel Barroso come as...
Australia set to seize assets of corrupt Chinese officials
smh.com.au – 3 hours ago
China is seeking the extradition and seizure of assets of corrupt officials who have fled to Australia with illicit funds running into the hundreds of millions of dollars.
Eurozone stagnation is a greater threat than debt
Financial Times – 9 hours ago
It would be wrong to think last week’s global market gyrations signal a return of the eurozone debt crisis. Sovereign bond spreads in the eurozone did not move by much, except in Greece. What happened last week is something rather different...
@ObsoleteDogma: “This leaves [Europe] with a choice between depression and failure – or both in succession” [link]
Marginal Revolution: Germany fact of the day
@D_Blanchflower: shocking example is the decrepit state of German military hardware. Of the Luftwaffe’s 254 fighter planes, 150 can... [link]
How will Saudi Arabia respond to lower oil prices?
Econbrowser – 14 hours ago
@TheStalwart: Via @calculatedrisk, read James Hamilton on how Saudi Arabia will respond to plunging oil prices. [link]
@EconBrothers: How will Saudi Arabia respond to lower oil prices? [link]
@NickTimiraos: Will Saudi Arabia cutback oil production? Don’t hold your breath: [link] ht @calculatedrisk
@Noahpinion: RT @bradplumer: "How will Saudi Arabia respond to lower oil prices?" From James Hamilton: [link]
Calculated Risk: Hamilton: "How will Saudi Arabia respond to lower oil prices?"
@MarkThoma: How will Saudi Arabia respond to lower oil prices? - Econbrowser [link]
Tight, loose, irrelevant
The Economist – 3 days ago
IT IS Economics 101. If central bankers want to spur economic activity, they cut interest rates. If they want to dampen it, they raise them. The assumption is that,...
reddit/Economics: Monetary policy: Tight, loose, irrelevant -- Interest rates do not seem to affect investment as economists assume
@FGoria: The Economist - Monetary policy: Tight, loose, irrelevant [link]
@Noahpinion: Investment is not very sensitive to monetary policy: [link]
@wonkmonk_: RT @ThomasAubreyCCA: Interest rates do not affect investment as economists assume [link] Another nail in coffin of ISLM?
@M_C_Klein: "[business] investment often rises when interest rates go up and volatility increases" [link] <-- expected profits most impt
Morgan Says Buy Russia Stocks Seven Weeks After Sell Call
Bloomberg – 7 hours ago
Morgan Stanley advised clients to buy Russian stocks seven weeks after cutting the country to sell, the latest sign of how volatile the market has become as the conflict in neighboring Ukraine approaches its eighth month.
When a Stock Market Theory Is Contagious
New York Times – 21 hours ago
Is the world economy suffering from “secular stagnation”? True or false, the idea alone could keep hurting stock prices.
@derekhernquist: "@andrewunknown: "When a Stock Market Theory Is Contagious" -- @RobertJShiller [link]” $$
@EconBrothers: RT @RobertJShiller: When a Stock Market Theory Is Contagious [link]
@Noahpinion: RT @rajivatbarnard: Links: Shiller on thought viruses [link] Kay on competing narratives [link] me on Kay h…
@JacobWolinsky: RT @RobertJShiller: When a Stock Market Theory Is Contagious [link]
@MarkThoma: When a Stock Market Theory Is Contagious - Robert Shiller [link]
@wonkmonk_: RT @RobertJShiller: When a Stock Market Theory Is Contagious [link]
Barroso: EU exit would harm UK
BBC – 16 hours ago
@brianmlucey: RT @BBC_Joe_Lynam: BBC News - EU exit would leave Britain with zero influence, says Barroso [link]
@BBC_Joe_Lynam: BBC News - EU exit would leave Britain with zero influence, says Barroso [link]
@lucymarcus: EU exit would leave Britain with zero influence, says Barroso [link] #eu #uk
Watch out for econometric sinning in the basement!
larspsyll.wordpress.com – 10 hours ago
Brad DeLong wonders why Cliff Asness is clinging to a theoretical model that has clearly been rejected by the data ... There’s a version of this in econometrics, i.e. you know the model is c...
Big banks giving up on their global ambitions
Financial Times – 11 hours ago
Almost 10 years ago to the day Citigroup’s then chief executive Chuck Prince started his global apology tour, aimed at mending relationships with regulators and bolstering Citi’s reputation. Tokyo was the first stop. The US bank had been de...
How One Boy With Autism Became B.F.F.’s With Apple’s Siri
New York Times – 2 days ago
How one 13-year-old boy with autism became B.F.F.’s with Apple’s Siri
@kevinroose: RT @gabrielroth: How Apple’s Siri became one autistic boy’s BFF: [link]
@LaurenYoung: Gus has autism. He also has Siri. [link] "A nonjudgmental friend and teacher.
@DasanRedux: To Siri, With Love, via @nytimes [link]
@Techmeme: How a 13-year-old autistic boy became best friends with Apple’s Siri [link] [link]
@ObsoleteDogma: RT @BCAppelbaum: An autistic boy and his best friend, Siri. [link] [link]
@rodrikdani: RT @DanBilefsky: Wonderful, paradigm-pushing story on how technology can bring many things, including love. [link]
@newsycombinator: How Apple’s Siri Became One Autistic Boy’s B.F.F [link]
@TimOBrien: MUST READ: "So you know who you’re waving at, Mommy.” [link]
@moorehn: How Apple’s Siri helped an autistic boy.[link]
Behind Private Equity’s Curtain
New York Times – 1 day ago
Public pensions have invested billions of dollars in buyout funds, but the terms — including some startling fees — are big secrets.
Naked Capitalism: Gretchen Morgenson on the Damage of Private Equity Secrecy ( and a Mention of Our CalPERS Suit)
@cate_long: .@SusanCombs this brilliant piece by @gmorgenson might be helpful to local TX pension fund managers [link]
@TimOBrien: Behind Private Equity’s Curtain, via @gmorgenson [link]
@IvanTheK: Interesting piece by @gmorgenson on PE fund confidentiality, but she mischaracterizes the harm to retirees, IMO. [link]