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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Thursday, #39

The Manufacturing PMI (Purchasing Managers’ Index) shows that the German manufacturing sector is still contracting. Shrinking. Going down. It’s doing a bit better than in November, but it’s still not growing. The magic number separating growth from contraction is 50. In November, we were at 47.8, now we’re at 48.1. Getting there… read article

Since yesterday, Michael Kors, American designer brand, is a publicly listed company. 42.7m shares (as opposed to 37.2 as planned) were sold at $20 each (as opposed to $17),amounting to $854m (this might increase to $1bn, by means of overallotment options to sell additional shares). Trading begins today under KORS on the New York Stock Exchangeread article

Outbrain, New York-based online content recommendation company, has got itself another round of funding (a Series D round and very possibly the last one before it outgrows venture funding), worth $35m. Since the announcement, Outbrain is all over the internet. Well, considering its field of expertise, it already was before. But in recent days it have become all the hype. Featured on techcrunch and FastCompany (and many more), now Felix Salmon is having his way with it. Towards the end of the article, Salmon asks if algorithms can really predict what content we are most likely to engage with and therefore replace human selection thereof. I’m willing to say that they probably can, or will be able to, but what about the information that is of interest to you but not reflected in your choices of online reading? Oh right, that’s what The Daily News Brief is for. Never mind. read article

Market equilibrium? Try earth-quake aftershocks. Mark Buchanan, physicist and writer talks about the outlook on economics as a scienceread article

And finally some decision theory: Karl Smith, assistant professor of public economics at the University of North Carolina at Chapel Hill, takes a stab at defending (or at least describing) the rationality of not climbing the social ladder that begins with college. read article

So long.

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