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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Facebook down, US GDP awaited

 

There is literally nothing worth reporting on today. Yes yes, the Olympics are starting and we’re still not done with earnings season. On the latter note, Facebook‘s earnings have been embarrassing, causing the stock price to slump 29%. The operating margin of the company shrank by 10% since the last quarter, while revenues rose on the slowest pace ever. read article

But there is one other thing: US GDPExpectations fluctuate somewhere between 1.3% and 1.5%, depending on which news paper you choose to believe. The actual Q2 growth rate will be announced at 830 EST and some are bracing themselves for another recession scareread articleOtherwise, as mentioned above, there’s not a lot going on. Merkel and Hollande are on a call to talk about Spain, because for some reason France is still perceived to be an established economic power in Europe that should totally have a say in all the bailout action… or maybe, it is legit after all. Here’s an assessment whether France = Greeceread article

But speaking of Greece… Officials of the troika arrived in Greece for a re-assessment of the situation yesterday, leading to the IMF calling for a complete restructuring of the country’s debt before any additional money is provided. And after Mario Draghi’s positively received “the ECB will save the euro” statement yesterday, the German Bundesbank has once more said “nein” to a potential bond buying program by the ECB. read article

Weekend reading

– Condoleezza Rice on why AmUrica is the best country in the worldread article

– Adam Davidson and the merits of off-shore taxationread article

– The Pew Charitable Trusts have issued a report on federal subsidies in nine sectors, read articleread study

– Business Insider’s 25 ways to boost your intelligenceread article

Have a good one.

 

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One Response

  1. princess1960 says:

    thank you
    FB bad bad bad …chief finnace have to find way to go out if not will go..on..to be in ”Wall Street ‘ needed to be faster very faster ,….not smarter..you know the phrase” son of the b….”
    EU no comment we will see the end …
    GOOD LUCK OLIMPYCE GAMES IN LONDON..
    HAVE A NICE WEEKEND ..

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