Having provided his clarifying perspective on why the markets are extremely fragile and due for a 20-30% correction, Marc Faber was assaulted by CNBC’s Scott Wapner reading off a litany of recent calls that have not worked out as planned. His response was notable: “I started to work in 1970, and over that career, somehow, somewhere, I must have made some right calls; otherwise I wouldn’t be in business.” What CNBC then edited out of the transcript was Faber pointing out his 22% annualized return in his publicly-viewable funds since then and asking – sounding somewhat frustrated at the anchor’s mockery (and background snickers) - “I wonder what the CNBC portfolio would look like since 1999?” The response: silence.
Microsoft has become the latest US company to be targeted by an antitrust investigation in China, as officials from the State Administration for Industry and Commerce visited some of its local offices on Monday.
The move came days after it emerged that a separate investigation of Qualcomm was moving closer to a conclusion, after another competition body, the National Development and Reform Commission, determined that the US mobile chip company had used monopoly power in setting its licensing fees.
Microsoft’s offices in Beijing, Shanghai, Guangzhou and Chengdu were all the subject of unannounced visits from the SAIC, one of three Chinese antitrust bodies, Chinese media reported on Monday.
In a statement, the US software company said: “We aim to build products that deliver the features, security and reliability customers expect, and we will address any concerns the government may have.”
The investigation is the latest setback for Microsoft in China, following a ban on central government purchases of its Windows 8 PC software, which was imposed in May over alleged concerns about security. >> Read More
El Pollo Loco is a restaurant chain based in the United States, specializing in Mexican-style grilled chicken. Wikipedia
Newly Listed ,Just 2 days back
|The U.S. stock market ended Monday’s choppy trading session mostly higher as investors weighed soft housing data against a flurry of deal news, including the takeover of Family Dollar Stores Inc. by Dollar Tree Inc.|
|Sales of existing homes in June fell, marking the first decline in four months. Later this week, the pace of data speeds up as investors will get second-quarter gross domestic product, a Fed decision and July payrolls among other economic items of importance. Get ready for 48 hours of economic fury|
|The S&P 500 (SPX) ended the day less than a point higher at 1,978.91. The Dow Jones Industrial Average (DJI) added 22 points, or 0.1%, to 16,982.59. The Nasdaq Composite (RIXF) closed 4.65 points, or 0.1%, lower at 4,444.91.|
On 25th July ,We had written this :
Overnight made low of 16877 & taken U-turn !
The IMF has warned that the pound is overvalued by 5pc-10p, in an update of its wide-ranging annual assessment of Britain’s economy.
After depreciating by 23pc between 2007 and 2009, the real exchange rate has gradually appreciated, and this trend accelerated from the middle of 2013, the fund said, as it praised the Bank of England for keeping interest rates low and welcomed signs that Britain’s surprisingly strong economic recovery is broadening.
A high pound could affect the rebalancing of the economy, according to the staff report. A strong currency depresses domestic demand and encourages spending on imports.
Do Significant Work
- Each of you has one life to live. Even if you believe in reincarnation it doesn’t do you any good from one life to the next! Why shouldn’t you do significant things in this one life, however you define significant?
- I have to get you to drop modesty and say to yourself, “Yes, I would like to do first-class work.” Our society frowns on people who set out to do really good work. You’re not supposed to; luck is supposed to descend on you and you do great things by chance. Well, that’s a kind of dumb thing to say. I say, why shouldn’t you set out to do something significant. You don’t have to tell other people, but shouldn’t you say to yourself, “Yes, I would like to do something significant.’
Have Courage and Confidence
- One of the characteristics of successful scientists is having courage. Once you get your courage up and believe that you can do important problems, then you can. If you think you can’t, almost surely you are not going to.
- That is the characteristic of great scientists; they have courage. They will go forward under incredible circumstances; they think and continue to think.
In a major shock to the Andhra Pradesh government, the Governor Raghuram Rajan-led Reserve Bank of India (RBI) has said that it did not see any reason to concede the former’s request for rescheduling of agricultural loans as a precursor to the proposed loan waiver.
The RBI’s fresh missive sent to Chief Secretary I Y R Krishna Rao on July 26, in response to the state government’s July 17 letter, will push Chief Minister N Chandrababu Naidu into an awkward position as he went to town claiming credit for “achieving” the loan rescheduling as a first step in implementing his promise of total loan waiver.
Chandrababu had announced last week that all crop loans and gold loans (taken for agriculture) up to Rs 1.5 lakh would be waived as the state government would carry the entire debt burden costing a whopping Rs 35,000 crore.
As the state government was left with empty coffers, post bifurcation, Chandrababu desperately sought rescheduling of loans ostensibly to buy time from the RBI.
He had spoken to RBI Governor Raghuram Rajan at least twice and also wrote letters on the issue stating that farmers in the state were in “great distress” due to a series of natural calamities. >> Read More