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Frontrunning: August 28

  • European shares hit two-week low as euro surges (Reuters)
  • Harvey Pounds Texas as Epic Flooding Paralyzes Houston (BBG)
  • Gasoline soars and dollar dented as Tropical Storm Harvey rages (Reuters)
  • Oil markets roiled as Harvey hits U.S. petroleum industry (Reuters)
  • Harvey Shuts Two of the Largest U.S. Ports (BBG)
  • Trump’s Pardon of Joe Arpaio Widens Republican Split (WSJ)
  • Trump’s Immigration Crackdown Is Making New Homes More Expensive (BBG)
  • Trump's firm sought Moscow real estate deal during presidential run (WaPo)

Vietnam Plans To Legalize Bitcoin By 2018

Vietnam Plans To Legalize Bitcoin By 2018

Vietnam is on the cusp of joining a growing list of countries that have explicitly legalized bitcoin and other cryptocurrencies, according to local media outlets cited by CoinTelegraph. Prime Minister Nguyen Xuan Phuc has authorized the formulation of a plan that could result in the legalization of digital currencies by next year, reportedly ordered the country’s central bank, ministry of finance and the ministry of public safety to study and draft the legal framework.

Uber Selects Expedia Chief Dara Khosrowshahi As Its Next CEO

Uber Selects Expedia Chief Dara Khosrowshahi As Its Next CEO

Just nine hours after Jeff Immelt tweeted that he was no longer in the race to be Uber's next CEO, moments ago Uber's board selected Expedia CEO Dara Khosrowshahi, 48, various news outlets report. According to Recode, the board selected the "third candidate", one who was not only an unknown until now, but one who as the photo below shows, is also not a woman despite his beguiling first name and the board's rumored prerogative to pick a female next leader.

Dara Khosrowshahi, current CEO of Expedia

On The Coming Collapse Of China's Ponzi Scheme Economy

On The Coming Collapse Of China's Ponzi Scheme Economy

Authored by Jake Van Der Kamp via The South China Morning Post,

So much production in industries like steel is based on demand for more production, but should that demand falter, the whole system could come crashing down

Friends who have a greater interest than I do in reading the tea leaves in Beijing tell me that the emphasis in relations with Hong Kong from now on will be on one country rather than two systems.

I think this phrases things the wrong way. The one country bit was never in issue.

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