07162020Thu
Last updateMon, 04 Nov 2019 2pm

Business


Not too Big to Fail...Spectacularly — GE shares fall on report that its finances are worse than disclosed

(Reuters) - General Electric Co (GE.N) shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE’s new CEO.

Amazon Plant In China Accused Of Forcing High School Interns To Work 60 Hour Weeks

(Zero Hedge) — In addition to not paying taxes and putting the entire brick and mortar retail industry out of business single-handedly, Amazon has now opened itself up to even more criticism. 

Amazon Exposed For Illegally Squeezing Merchants As War With Walmart Heats Up

(ZeroHedge) — Years ago, US regulators quietly put a stop to Amazon's practice of forcing third-party sellers to offer their best prices on Amazon's platform, arguing that this practice was a blatant violation of anti-trust laws.

Presages -- US home sales fall 1.7% with prices high and supply low

WASHINGTON (AP) — U.S. home sales tumbled 1.7% in June, with rising prices and a scarce supply locking out many Americans from ownership.

Bank of America: "Enjoy It While It Lasts"

From Zero Hedge: 

Last August, several of Bank of America's more skeptical analysts including Michael Hartnett and chief economist Ethan Harris wrote a piece on the law of large numbers, arguing that an ever-expanding list of uncertainties would likely undercut the markets going into year-end.

Netflix Stock Implodes, Subscriber Exodus Ignites 12% Plunge

From CCN Markets: 

A confluence of negative factors slammed Netflix in the past quarter, resulting in subscriber numbers and other metrics exposing Netflix’s vulnerabilities – and leaving the streaming giant’s stock plunging in after-hours trading.


" But as the plan of the convention aims only at a partial union or consolidation, the State governments would clearly retain all the rights of sovereignty which they before had, and which were not, by that act, EXCLUSIVELY delegated to the United States. "

-- Alexander Hamilton (Federalist No. 32, 3 January 1788)

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