ROUND-UP
FT markets round-up: "After a slower start to the global session, stocks on Wall Street rebounded, pushing the S&P 500 closer to an all-time high. Throughout most of trading in Europe and Asia, investor optimism was alternately boosted by a surprisingly strong US jobs report but restrained by weaker-than-expected Chinese economic data. Still, gains picked up in afternoon trading in New York, leaving many leading stock barometers near record highs as hopes for worldwide growth prospects and continuing central bank support provide underlying demand for "risk" assets. The broad S&P 500 rose 0.3 per cent to 1,556, just 9 points shy of its record high close. The FTSE All-World index rose 0.4 per cent after the Asia-Pacific region, excluding Japan, dipped just 0.1 per cent. The FTSE Eurofirst 300 retreated less than 0.1 per cent." (Financial Times)
Mexico eyes telecoms revolution: "The Mexican government on Monday announced a sweeping proposal to limit the reach of telecoms tycoon Carlos Slim and broadcasting giant Televisa as part of efforts to boost competition in Latin America's second-biggest economy. The bill, which is expected to be sent to congress on Tuesday, seeks to establish a powerful regulator with far greater authority to limit companies' control of markets." (Financial Times)
Facebook reveals secrets you haven't shared: "The increasing amount of personal information that can been gleaned by computer programs that track how people use Facebook has been revealed by an extensive academic study. Such programmes can discern undisclosed private information such as Facebook users' sexuality, drug-use habits and even whether their parents separated when they were young, according to the study by Cambridge University academics." (Financial Times)
Concern over $2.6m paid to Intrade founder: "The founder of Intrade received $2.6m in insufficiently documented payments from the popular prediction markets company in 2010 and 2011, an audit revealed weeks before trading on the site was halted. Auditors for the Dublin-based company – an online hub where people can bet on everything from presidential elections to papal conclaves – highlighted concerns about "significant financial irregularities" and the payments made to John Delaney, according to financial records Intrade recently filed with Ireland's companies registration office. Mr Delaney, who launched Intrade's parent company in 1999, died on Mount Everest in May 2011." (Financial Times)
FURTHER FURTHER READING
- The smartest guy in the room: Bill Ackman, the cycling story and ancient Greece.
- Felix on the Nocera IPO article.
- And Matt Levine on same.
- Can't we agree that...
- No, the US will not ever turn into Greece.
