Posts by Lauren Lyster
- Lauren Lyster at Daily Ticker5 days ago
U.S. Treasury Secretary Jack Lew's interview this week about lobbying Chinese leaders to reverse course on devaluing Chinese currency serves as a reminder that currency squabbles between countries continue.
Lew, for his part, wants China to keep moving further towards the direction of a market-based exchange rate. "If they want the renminbi to be a world currency some day, if they want it to be a reserve currency some day, they need to demonstrate that," Lewtold CNBC Wednesday.
"From our perspective, it is something that is very important in preserving a level playing field for trade in the world."
The China-U.S. currency dynamic is just one issue James Rickards, author of the bestselling book Currency Wars, revisits and pushes forward in his new book, "Death of Money: The Coming Collapse of the International Monetary System".
- Lauren Lyster at Daily Ticker7 days ago
Russia is warning Ukraine that using force against pro-Kremlin separatists who have taken control over government buildings in three Ukraine cities could push the country into civil war, reports The Wall Street Journal. The warning came Tuesday from Russia's foreign ministry after Ukrainian officials accused Russia of instigating the protests and vowing to subdue them.
Supporters of former Ukraine President Victor Yanukovich launched new protests on Sunday. Crowds of several hundred people seized government buildings in east Ukraine.
- Lauren Lyster at Daily Ticker7 days ago
High profile U.S. tech stocks have led a selloff that has seen global markets plagued by a loss of momentum over the last three days. Monday, the Nasdaq composite fell close to 1.2% marking its biggest three-day drop since November 2011 -- it's down 5.9% for the last 30 days. And the Dow and S&P 500 posted their worst three-day losing streaks since Jan. 27, 2014.
So are we seeing what could be a 5% to 10% correction for the market, or could this be the beginning of a bear market?
- Lauren Lyster at Daily Ticker13 days ago
Five trillion dollars in cuts?! Not anytime soon.
Those cuts (over ten years) are proposed in the 2015 House GOP budget that Rep. Paul Ryan (House Budget Committee Chairman) released Tuesday. But it shouldn't be looked at as more than a "campaign document, something that the Republicans are going to take into the Fall elections and the Democrats are going to try to use against them," says CQ Roll Call reporter Steven Dennis in the video above. It has virtually no chance of becoming law as long as President Obama is in office.
That said, there are three proposals in the budget worth keeping your eye on, according to Dennis, as you are likely to continue hearing about them.
1. Medicare changes
- Lauren Lyster at Daily Ticker14 days ago
Japan raised its consumption tax from 5% to 8% Tuesday in a move that could spell trouble for the world’s third largest economy, which has been trying to revive itself after 20 years battling deflation, stagnation and serial recession.
- Lauren Lyster at Daily Ticker15 days ago
To answer the question of where the most successful Americans come from, New York Times columnist and Harvard economics Ph.D. recipient Seth Stephens-Davidowitz turned to Wikipedia.
What he found are "huge differences throughout the United States in the probability of making it to Wikipedia," he tells us in the accompanying video. "If you're born in one of the most successful places such as Boston or Ann Arbor, MI, you're 20 times more likely to make it to Wikipedia than if you're born in one of the least successful places, such as Allegan, MI or Harding, KY."
- Lauren Lyster at Daily Ticker18 days ago
People needing quick cash would probably scoff at an effective 400% interest ratefor a loan they couldn't afford to pay off in time from the start. Yet millions of Americans appear to risk falling into this trap by taking out payday loans. And Consumer Financial Protection Bureau Director RIchard Cordray this week said the watchdog is worried that "too many borrowers slide into the debt traps that payday loans can become."
- Lauren Lyster at Daily Ticker19 days ago
It’s been a great year for IPOs. Well, except for yesterday when Candy Crush Saga game-maker King Digital (KING) debuted on the New York Stock Exchange and then fell 16%, making it the worst opening day for any initial public offering so far this year.
Looking past King Digital, the IPO market has been hot. In the first quarter of 2014, U.S. IPOs are up 113% from last year and have raised 36% more capital, according to a report from Ernst & Young.The market is "booming," led by energy, real estate and technology. 2014 is turning out to be even better than 2013 -- which was already the best year for the U.S. IPO market since 2000, according to Renaissance Capital. So what exactly is driving this trend?
- Lauren Lyster at Daily Ticker20 days ago
President Obama plans to ask Congress to end the bulk collection and storage of phone records by the National Security Agency, according to senior administration officials this week.
NSA leaker Edward Snowden in statement provided to the American Civil Liberties Unionresponded to the Obama Administration's NSA Reform Plan: "This is a turning point, and it marks the beginning of a new effort to reclaim our rights from the NSA and restore the public's seat at the table of government."
It's the latest in a surveillance story that extends far beyond the reach of government, to companies that track and sell personal information for commercial reasons.
- Lauren Lyster at Daily Ticker21 days ago
Airbnb, the online marketplace where people can book or list a room, house, or even a castle, is reportedly in advanced talks to raise capital that would value the company at about $10 billion. This news made headlines and raised eyebrows, as this is more than some major hotel chains are worth. The deal would make Airbnb one of the world's most valuable startups and also make the co-founders the first billionaires of the so-called "sharing economy," according to Forbes.
"This success story is really about a great economic transformation occurring in the global economy, with far-reaching implications for all of us," says Jeremy Rifkin, author of the “The Zero Marginal Cost Society.”
"We're actually seeing the emergence of a new economic system alongside the traditional capitalist market, and the new system is a sharing economy."