News Oil 

With The Recent Oil Glut Gone, Crude’s Upside Is Big

“U.S. oil prices are lagging behind global oil prices climbing toward $80 a barrel, the latest sign of a market that has gone from glutted to exceptionally tight in the past year” reports etfdailynews.com. Anyhow, rising oil is one more peak-cycle indicator that solidifies the comparisons with past peaks and the carnage that followed.Saudi Arabia, Iran, Venezuela, and Russia are all big oil exporters and will, to varying degrees, use the coming windfall to do things that liberal democracies will not appreciate.Economically, expensive oil means tighter margins for businesses that…

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Crypto News 

Ashton Kutcher gave Ellen DeGeneres $4 million in Ripple’s XRP cryptocurrency for charity

“Actor and noted tech investor Ashton Kutcher surprised Ellen DeGeneres on Wednesday with a large donation to the talk show host’s wildlife charity on behalf of cryptocurrency startup Ripple” writes unknown author for cnbc.com. The $4 million that Kutcher and his business partner, Guy Oseary, presented to The Ellen DeGeneres Wildlife Fund comes in the form of Ripple’s XRP coin — currently third most-valuable cryptocurrency on the market, behind Bitcoin and Ethereum. Source: cnbc.com Share This:

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News 

Nearly half of adults can’t cover a $400 emergency expense

“Bankrate found that the typical Kansas City-area family of four can theoretically save up almost two-thirds (63 percent) of their recommended $19,443 six-month emergency fund goal” writes Nicole Lyn Pesce for nypost.com. The Federal Reserve’s Economic Well-Being of US Households report released Tuesday notes that while 74 percent of adults said they were doing “at least OK” financially in 2017, 40 percent of them still don’t have enough money to cover an unexpected $400 expense.It should be noted that Bankrate’s proposed six-month emergency funds per metro area are just suggestions…

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GBP News 

Renowned fund manager says Italy won’t exit the euro

“Clearly the result in Italy has made people think about the anti-euro lobby,” Martin Gilbert told CNBC’s Joumanna Bercetche in Brussels, but added: “I don’t think we are going to see any significant change.”” writes Alessia Pierdomenico for cnbc.com. The two anti-establishment parties looking to clinch power in Italy will not take the country out of the euro zone and reject the single currency, the co-chief of asset management firm Standard Life Aberdeen told CNBC Wednesday.The resurgence of the Five Star Movement (M5S) and Lega — two anti-establishment parties putting…

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News 

SoftBank says selling its entire Flipkart stake to Walmart

“The Vision Fund invested invested $2.5 billion in Flipkart in August last year” writes Reuters Editorial for reuters.com. The Vision Fund has invested $30 billion in startups in the last year. Major investments by the fund include ride-hailing firm Uber Technologies, co-working space provider WeWork Cos and chip designer Arm Holdings.SoftBank did not disclose terms of the sale but this month CEO Masayoshi Son said its investment in the Indian firm was worth around $4 billion. Source: reuters.com Share This:

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News 

Madrona Venture raises another $300 million fund to invest in Northwest startups

“Madrona Venture Group, a longtime venture investing firm in Seattle, has raised $300 million for its next pool of funds to pour into startups, the firm announced Tuesday” writes Rachel Lerman for seattletimes.com. But new players have joined the local venture capital scene recently, including an $80 million fund from Pioneer Square Labs and a $28 million fund from Flying Fish Partners (which the firm hopes will grow to $80 million soon).Madrona has long been known as one of the most active venture funds in the region.The $300 million figure seems…

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Crypto Markets News 

Brian Kelly: Bitcoin Cash Development Fund Could…

“During the show, he explained that bitcoin cash miners had met to talk about the creation of a development fund for the 4th most valuable altcoin” writes Rebecca Campbell for livebitcoinnews.com. Over the last seven days bitcoin cash has dropped by nearly 17 percent, according to CoinMarketCap.Prior to the conference, Lee stated that bitcoin was set for a major rally.Bitcoin cash is the cryptocurrency that should be owned at the moment, according to a hedge fund manager who once said he’d put 90 percent of his money into digital currencies. Source:…

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News 

Malaysia sets up new 1MDB criminal taskforce

“Malaysia has set up a special taskforce that will look into possible criminal conduct of individuals involved in the management of state fund 1Malaysia Development Berhad (1MDB), the prime minister’s office said on Monday” writes Manan Vatsyayana for cnbc.com. The taskforce, which will include the anti-graft agency, police and the central bank, will also be responsible for identifying and seizing assets acquired using funds allegedly siphoned from the state fund, which was set up in 2009 by embattled former prime minister Najib Razak, whose near 10-year rule ended in electoral…

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News 

Hyundai Motor Group scraps revamp plan in victory for hedge fund Elliott

“Auto parts maker Hyundai Mobis Co Ltd, which controls Hyundai Motor Co, on Monday cited “uncertainty” about shareholder support for a restructuring plan at a meeting next week” writes Midwest Communications Inc for 95kqds.com. SEOUL (Reuters) – South Korea’s Hyundai Motor Group has shelved a restructuring plan which would have given the son of its aging chairman more control of the conglomerate, following opposition from investors including U.S. hedge fund Elliott Management Corp.Hyundai Mobis said it has cancelled a May 29 shareholder meeting where the restructuring plan was to be…

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