FURTHER FURTHER READING
- Why the answer (still) isn't wage cuts.
- Global rebalancing -- the tanker scrapyard index?
- Beyond the beautiful deleveraging...
- ...And is it about frozen wages?
- Tyler Cowen visits Iceland.
- When the art world = start-up valuations.
- Elizabeth Warren vs CNBC.
ROUND-UP
Revenue growth faltered at Yahoo. Total sales fell 7 per cent to $1.2bn in the second quarter: revenue excluding web traffic costs fell 1 per cent to $1.08bn, in line with expectations (Financial Times). The company also revised its outlook for 2013 revenue down to $4.45bn to $4.55bn from $4.5bn to $4.6bn earlier (Reuters, Yahoo earnings).
The European Commission has drafted plans for a ceiling on all consumer debit and credit card transaction fees. TIn addition to the respective 0.2 per cent cap on debit card fees and ceiling on credit card fees, the draft regulation would also require companies to split payment card schemes from the entities that process transactions (Financial Times).
Dell is considering a delay to its shareholder vote on going private. Dell's special committee for considering bids is likely to decide on Thursday morning (Reuters).
Fabrice Tourre jury struggles with synthetic CDOs: 'Some were rubbing their eyes. One's eyes were closed, head propped on a hand, while others looked at the clock as an expert testified on CDOs, synthetic CDOs and CDOs of CDOs. "I think the jury was lost," John "Sean" Coffey, a lawyer for Tourre, 34, said during a break this morning...' (Bloomberg)
Analysts doubted whether Goldman's strong Q2 results were sustainable. The bank reported earnings of $3.70 a share, well above expectations, but 'derived from its portfolio of investments and loans, where revenues jumped almost sevenfold to $1.42bn' (Financial Times).
Comeback for (some) macro hedge funds on Japan, Fed tapering, and eurozone rates trades: 'Caxton Associates, the $7bn, 30-year-old macro hedge fund run by Andrew Law, is enjoying one of its best ever first-half performances. According to an investor in the fund, Caxton is up 17 per cent so far this year...' (Financial Times)
Google has pitched media companies on an online TV service. The bid for licensing deals would see Google join Apple and Intel, among others, in attempting to offer traditional TV content over a broadband connection (Wall Street Journal).
