The Trump administration "will take a look" after billionaire investor Peter Thiel said the FBI and CIA should see if Chinese intelligence has infiltrated Google.Technologyread more
On Monday, the first day of Amazon's 48-hour shopping extravaganza this year, retailers that make more than $1 billion in annual revenues saw a 64% increase in their digital...Retailread more
Builder confidence for single-family homes rose just one point to 65 in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI)....Real Estateread more
The Federal Reserve's expected interest rate cuts appears to have impacted J.P. Morgan's forecast for 2019 net interest income.Financeread more
Expectations for lower interest rates and less fear about tariffs sent investors back into the market and set up what could be a profitable run ahead.Marketsread more
A crop of long-awaited technology companies coming to the public market this year created a "frothy" period, Bernstein said on TuesdayInvestingread more
GE hasn't had a year this good during this millennium. After that massive surge, one trader is warning investors to stay away.Trading Nationread more
Credit card sales volume rose 11% this quarter and merchant processing volume increased 12%, the bank says in its earnings statement.Banksread more
EU Competition Commissioner Margrethe Vestager is preparing to launch a full probe into Amazon in the coming days, Bloomberg reported.Technologyread more
IBM announced Tuesday that it signed a multi-year agreement with AT&T enabling the carrier to host its business applications on the IBM Cloud.Technologyread more
Amazon Prime Day enters its second day, with more than 1 million deals being offered, including intermittent "lightning deals." Here's how to navigate the 48-hour shopping...Invest in You: Ready. Set. Grow.read more
The head of Germany's embattled Deutsche Bank believes negative interest rates are posing an imminent danger to the economy, savers and pension funds.
Deutsche CEO John Cryan warned of "fatal consequences" that could occur should the European Central Bank continue down the road of negative rates. The ECB is holding its deposit rate at -0.4 percent; government debt yields through large swaths of Europe are carrying negative rates as well.
"Monetary policy is thwarting goals to strengthen the economy and to make banks safer by now," Cryan told German newspaper Handelsblatt, according to an account in The Telegraph.
Some $11.4 trillion in global sovereign debt is carrying negative yields, according to Fitch Ratings. The number is slightly off its high of $11.5 trillion in mid-July but still carries potentially ominous consequences.
While intended to spur growth by directing money away from safe-haven investments, negative rates instead have spurred higher savings rates and economic unease among Europeans — essentially the opposite of their intended purpose. Japanese government debt up to 10 years in duration also carries negative yields.
Cryan said the ECB deserved praise for rescuing the economy during the financial crisis, but it has gone too far.
The negative-rate regime, he said, is "working against the goals of strengthening the economy and making the European banking system safer."
Deutsche, of course, has its own problems. Europe's second-largest bank is fighting a wave of negative headlines and is cutting more than 30,000 jobs over the next two years. The bank's U.S.-traded shares are down more than 50 percent over the past year.
The bank's representatives did not respond to a request for further comment.
The full post for Handesblatt can be found here (subscription required.)