Financial Markets and Economy
Central banks ready to cooperate after Brexit result (Business Insider)
Central banks are ready to cooperate to support financial stability in the wake of Britain's vote to leave the European Union, the Bank for International Settlements said on Saturday.
Central bankers gathered at the organization's global economy meeting in Switzerland discussed the implications of the referendum.
How Americans spend their day reflects a shifting economy and population (Wall Street Journal)
Americans overall are working less and sleeping more than they were a decade ago, trends that point to an aging population and fewer people in the workforce. But among those who have a job, people are working more. And in general, men spend more time than women on leisure activities, while women sleep about a half-hour more each day.
A year after Grexit scare, Greece faces Brexit fallout (DW)
One of the EU's most fragile economies is bracing for fallout from Britain's referendum. Greece has become ground zero for the EU's experiments – from austerity to refugee distribution. Omaira Gill reports from Athens.
There has been little sympathy for the EU in a country that is constantly faced with the effects of its policies – from a six-year economic crisis to an unresolved refugee crisis.
Elon Musk Is Squaring Off Against China for the Future of Tesla (Bloomberg)
How important are metals to Tesla? Just check out the names of some conference rooms at its new $5 billion gigafactory in Nevada: Lithium, Nickel, Cobalt, Aluminum. They’re used to make lithium ion batteries, and Chief Executive Officer Elon Musk needs unprecedented quantities of the metals to reach an ambitious goal: producing 500,000 electric vehicles a year by 2018.
The Real Brexit "Catastrophe": World's 400 Richest People Lose $127 Billion (Zero Hedge)
For all the scaremongering and threats of an imminent financial apocalypse should Brexit win, including dire forecasts from the likes of George Soros, the Bank of England, David Cameron (who even invoked war), and even Jacob Rothschild, something "unexpected" happened yesterday: the UK was the best performing European market following the Brexit outcome.
Buybacks by Companies Like Apple May Signal Danger, Not Growth (NY Times)
When companies funnel money into their own shares, earnings per share look better, but the buybacks can siphon money away from investments in innovation.
Why Time is Key to Trading Psychology (Trader Feed)
The recent Brexit trade and its volatility has given us an opportunity to explore an important and neglected topic in trading psychology: time.
Here's a useful distinction between novice and expert performers: Under pressure, the novice feels threat and speeds up.
Quicken Loans now offering 1% down mortgages (Housing Wire)
While megabanks like Bank of America, Wells Fargo, and JPMorgan Chase grabbed the headlines earlier this year by separately announcing plans to offer mortgages that only require a 3% down payment from the borrower, there is another major lender that is quietly requiring even less from borrowers.
31 Chinese Firms Form Financial Blockchain Consortium (Coin Desk)
Chinese financial services firm Ping An Bank and a subsidiary of QQ instant message app maker Tencent are among more than 30 technology and financial firms in China that have formed a new consortium dedicated to blockchain tech.
Americans Spend More Than 8.9 Billion Hours Each Year On Tax Compliance (Forbes)
Americans will spend more than 8.9 billion hours complying with IRS tax filing requirements in 2016. To put that in context, that works out to 222,500,000 full work weeks (assuming a standard 40 hour work week). You’d have to work 4,278,846 years straight to hit those kinds of numbers.
Google Searches For "Buy Gold" Soar 500% After Brexit (Zero Hedge)
Three days ago, when Wall Street was virtually certain that the Brexit vote would comfortably go in favor of the Remain camp, the best tell about the true sentiment on the ground had nothing to with polls, or manipulated bookies' odds, and much more to do with our report that worried British savers are scrambling to buy gold bars and "stuffing them in safes at home, data suggests, as fears mount that a Brexit-induced financial meltdown could be just around the corner."
Politics
Who Voted for the Brexit? (The Atlantic)
Britain has voted to leave the European Union. The news surprised many people, including the British, who have learned that while brushing off early statistical warnings is tempting, it doesn’t make it any easier when those warnings turn out to be right. Give yourselves a break, I say: Polls are fickle, anecdote is limited, and prevailing wisdom is sometimes impossible to shake. (Though these remorseful Brexit voters don’t have an excuse.)
George Will Leaves the Republican Party over Trump: ‘Make sure he loses’ (Reason)
At a Federalist Society lunch in Washington yesterday, conservative columnist and TV commentator George Will announced that he changed his Maryland voter registration this month from Republican to unaffiliated. "This is not my party," he told the crowd, according to an account by PJ Media's Nicholas Ballasy.
Technology
Electric Highways For Trucks Are Being Tested In Sweden, California To Follow Soon (Forbes)
The world’s first public road project with electrified highway trucks is being conducted in Sweden, and will soon be replicated in California as well.
Future Urban Cars Will Be Simple, Self-Driving, and Super Cheap (Singularity Hub)
With Mobility on Demand, you don’t buy a car, you buy rides. That’s certainly Uber’s plan, and is a plan that makes sense for Google, Apple and other no-car companies. But even Daimler, with Car2Go/Car2Come, BMW with DriveNow and GM with Lyft plan to sell you a ride rather than a car, because it’s the more lucrative thing to do.
Health and Life Sciences
What Is the Spectrum of Human Sensitivity? (The Atlantic)
At the age of six, Jack Craven started telling his mother he wanted to die. “God made a mistake when he made me,” he would say. “Why can’t I just die?” His mother, Lori Craven, says she didn’t even know that kids his age could think such things: “Can you imagine your child saying that?”
Jack, now 12, has sensory processing disorder (SPD). It’s a contentious diagnosis.
Do Seasonal Allergies Make You More Likely to Get Sick? (Wall Street Journal)
Everything seems to be in bloom this June in many parts of the country. That can be nice for outdoors enthusiasts, but not so much for those who suffer from allergies. Along with itchy eyes and a runny nose, people with allergies often complain they catch every cold going around.
Life on the Home Planet
Could a vast rubber boom clean up tonnes of ocean plastic? (New Scientist)
They’re calling it “Boomy McBoomface”. A bizarre object afloat in the North Sea looks like a string of enormous rubber sausages, but is really part of an audacious plan to finally start pulling our plastic waste out of the sea.
There are at least 244,000 tonnes of plastic floating in the oceans, with some estimates suggesting that 9 million tonnes of the stuff may have entered the oceans since the 1970s.
150 homes burned in deadly California wildfire (Mashable)
A voracious and deadly wildfire in central California has burned 150 homes, and the toll may rise, fire officials said Saturday.
The tally rose from 80 homes as firefighters began going through neighborhoods to count houses and mobile homes incinerated by the blaze.
