Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Barclays Plc plans to shut most of its cash-equities business in the Asia-Pacific region as Chief Executive Officer Jes Staley pushes to reduce costs, according to people with knowledge of the matter. The near-exit from cash equities is part of plans to eliminate about 50 percent of jobs at the wider equities unit in the…
A Shanghai fund dumped all its holdings as Chinese shares tumbled and triggered a circuit-breaker that halted trading in the world’s second-biggest stock market. “This is insane,” Chen Gang, chief investment officer at Shanghai Heqi Tongyi Asset Management Co., said in an interview on Thursday. “We were forced to liquidate all our holdings this morning,” said…
Yahoo! Inc. is planning to eliminate jobs as part of Chief Executive Officer Marissa Mayer’s effort to cut costs and revive growth at the struggling web portal, according to a person familiar with the matter. The plan will help the company streamline operations, said the person, who asked not to be identified because the matter…
Markets are in turmoil. Here’s what people are talking about today. Chinese stocks close just 29 minutes after open China’s stock exchanges closed for the day at 9:59 a.m. local time after the CSI 300 Index fell more than 7 percent. The selloff was sparked after the central bank cuts its yuan reference rate by…
Bill Cosby has been accused of sexually assaulting more than 50 women over a period of five decades, but so far only one case has resulted in criminal charges. There’s one big reason for this: the statute of limitations. Some of Cosby’s alleged victims were assaulted more than 40 years ago, but they only came…
The “Other Side” Is Not Dumb There’s a fun game I like to play in a group of trusted friends called “Controversial Opinion.” The rules are simple: Don’t talk about what was shared during Controversial Opinion after and you aren’t allowed to “argue” — only to ask questions about why that person feels that way. Opinions can…
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gallery js end gallery js start of gallery code fullscreen Governor Cuomo announced on Wednesday that he is spearheading a comprehensive overhaul of Penn Station. In conjunction with Amtrak and the MTA, the renovation will seek a private developer to convert the Farley post office building on Eighth Avenue into a grand, sun-soaked waiting area….
Every friend I have with a job that involves picking up something heavier than a laptop more than twice a week eventually finds a way to slip something like this into conversation: “Bro, you don’t work hard. I just worked a 4700-hour week digging a tunnel under Mordor with a screwdriver.” They have a point….
Jay Rosen coined a term to describe the basic attitude of our professional journalism and commentary class, the Cult of the Savvy. Rosen: “In politics, our journalists believe, it is better to be savvy than it is to be honest or correct on the facts. It’s better to be savvy than it is to be…