Microsoft illustrates the real-world fallout of letting corporate executives, either out of desperation or out of finding deal making more fun than the grind of making businesses perform better, follow the siren song of M&A mavens.
Read more...We regret to inform readers that we will be shutting down comment on most posts.
Read more...New evidence shows that when the financial sector grows more quickly, productivity tends to grow disproportionately slower in industries with either lower asset tangibility or in industries with higher research and development intensity. It turns out that financial booms are not, in general, growth-enhancing.
Read more...Greece has been given a maximum of five days to come up with a proposal acceptable to its lenders. And “acceptable” would be more stringent than if it had agreed to the memorandum when Syriza assumed office in January
Read more...The Chinese stock market meltdown is accelerating despite government intervention and is blowing back to commodities markets, including copper and oil, which are trading down based on concern that the stock market plunge is a harbinger of even more economic weakness. And the decline may represent the beginning of the end of the faith in China’s command and control economy.
Read more...Ambrose Evans-Pritchard has a bombshell report: Syriza never wanted to win the referendum and is now desperately contending with events that are spinning out of his control.
Read more...Greek journalist Michael Nevradakis and US investigative journalist Greg Palast have a different take on the Greek ‘No’ vote against Europe’s cruel austerity demands.
Read more...Elizabeth Warren has stymied the nomination of yet another corporate stooge to an important regulatory post, that of SEC commissioner, at least if the howling from Wall Street is any guide.
Read more...The military has a keen interest in reducing its dependence on conventional fuel sources for transportation and the spending heft to speed development.
Read more...Efforts to reform social welfare programs in England operated on the assumption that lack of consistent work (as in periods of unemployment) and overly large families were the big drivers of poverty. But the majority of poor now are working poor, and as in the Speenhamland days, social welfare programs are helping to subsidize below-living-wage pay levels.Similar factors are in play for US employers like Wal-Mart and McDonalds.
Read more...If the ECB does not give Greek banks more funds under the ELA today, the Greek economy is going to start to suffer lasting damage.
Read more...Obama and Treasury Secretary Jack Lew have been far more quiet than you’d expect given their attentiveness to the needs of the investing classes and the threat that protracted wrangling with Greece might pose to that. Of course, they might believe that Draghi’s bazooka is more effective than Hank Paulson’s proved to be in the runup to the final phase of the financial crisis. But John Helmer indicates below that the Greek referendum has intensified the Administration’s interest in regime change in Greece. Also note that the anti-Greek government interests have connections to Hillary Clinton.
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