Starting July 1, 2018 stock markets around the world are going to get yet another artificial boost courtesy of a decision by the $350 billion California Public Employees' Retirement System (CalPERS) to allocate another $15 billion in capital to already bubbly equities. Of course, if this decision doesn't make sense to you that's because it's not really meant to make sense.
When yesterday we discussed the latest troubles facing embattled retailer Steinhoff, whose bonds are owned by none other than the ECB, we said that while the company's bonds mature in 2025, its bankruptcy is at most months away. In retrospect, and in light of the latest news, that may have been optimistic, because it now appears that a bankruptcy may be imminent and is at most just weeks away.
House Republicans have decided to attach provisions reauthorizing a popular child health-insurance program and allocating an unprecedented $81 billion in disaster-aid spending to a continuing resolution that would keep the federal government funded until Jan. 19, Politico reported Tuesday, citing anonymous Congressional aids.
House Speaker Paul Ryan disclosed the new strategy in a GOP conference meeting Wednesday morning.
Following last night's chaotic appearance of LongFin CEO on CNBC's FastMoney, it appears The SEC has finally had enough of the unusually explosive price gains of previously tranquil publicly-traded companies adding the word 'blockchain' to their names (or mission statements). In what we suspect will be the first of many, The SEC has suspended trading of shares in "The Crypto Company" - a name we're familiar with - due to "potentially manipulative transactions in the company’s stock."
Submitted by David Sirota of International Business Times
When the U.S. Senate takes up the final tax bill this week, more than a quarter of all GOP senators will be voting on a bill that includes a special provision that could give them a new tax cut through their real estate shell companies, according to federal records reviewed by International Business Times.