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Several Chinese Companies Reportedly Submit Bids For Fiat Chrysler

Several Chinese Companies Reportedly Submit Bids For Fiat Chrysler

After learning over the weekend that Trump plans to call for an investigation into China over allegations that the nation violated U.S. intellectual property rights and forced technology transfers, we learn that several Chinese companies may have submitted bids for Fiat Chrysler (FCA) in a deal that would include the company's iconic Jeep brand.  According to AutomotiveNews, at least one Chinese automaker made a bid earlier this month for FCA at a slight premium to the company's prevailing market price but it was rejected for being too low.

Furious Trump Responds To Merck CEO: Attacks "Ripoff" Drug Prices

Furious Trump Responds To Merck CEO: Attacks "Ripoff" Drug Prices

Well that didn't take long.

President Trump has responded, via Twitter, to the resignation (and lambasting) of Merck CEO Ken Frazier...

And now we have the news cycle narrative for today.

The first reaction is in...

Merck CEO Resigns From Trump's Manufacturing Council Over "Hatred, Bigotry, & Group Supremacy"

Merck CEO Resigns From Trump's Manufacturing Council Over "Hatred, Bigotry, & Group Supremacy"

Merck CEO Ken Frazier has resigned from the President's Manufacturing Council as a "matter of personal conscience" following Trump's apparent lack of rejection of "expressions of hatred, bigotry, and group supremacy."

Statement from Kenneth C. Frazier, chairman and chief executive officer, Merck:

"I am resigning from the President's American Manufacturing Council.

 

Key Events In The Coming Week: Fed Minutes, Retail Sales And, Of Course, Politics

Key Events In The Coming Week: Fed Minutes, Retail Sales And, Of Course, Politics

In what should be a relatively quiet, mid-summer week if only on the global economic schedule even as domestic and global political tensions continue to set the general risk tone on any given day, the focus over the next few days will be on US retail sales on Tuesday and Industria Production on Thursday, as well as on monetary meeting minutes from the Fed and the ECB. Here, focus is on the inflation outlook and discussion of transitory vs persistent factors.

Bitcoin Has No Yield, but Gold Does Report 13 August 2017

Bitcoin Has No Yield, but Gold Does Report 13 August 2017

Last week, we said:

It is commonly accepted to say the dollar is “printed”, but we can see from this line of thinking it is really borrowed. There is a real borrower on the other side of the transaction, and that borrower has powerful motivations to keep paying to service the debt.

Bitcoin has no backing. Bitcoin is created out of thin air, the way people say of the dollar. The quantity of bitcoins created may be strictly limited by Satoshi’s design.

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