News 

Life sentence for truck driver who smuggled immigrants in overheated tractor-trailer

“Between 70 and 200 illegal immigrants are believed to have boarded the truck with groups being released at different spots” writes Ap Photo Eric for washingtonexaminer.com. Police found Bradley asleep in the cab and 39 illegal immigrants in a trailer that did not have a working air conditioning unit.The individual groups of illegal immigrants were brought together from stash houses they had been living in border towns and loaded onto the trailer Sunday.A 61-year-old Louisville, Ky., man was sentenced Friday to life in federal prison for transporting dozens of illegal…

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Futures Markets News Oil Stocks 

Oil reaches multi-year highs despite signs of overheated market

“The undeniable fact is that (U.S.) crude oil inventories are at their lowest level since August 2015,” said PVM Oil Associates analyst Tamas Varga” reports foxbusiness.com. U.S. West Texas Intermediate (WTI) crude futures were at $63.94, up 37 cents to their highest since December 2014.Data from the U.S. Energy Information Administration on Wednesday showed that crude inventories fell by almost 5 million barrels to 419.5 million barrels in the week to Jan. 5.Sentiment was boosted by a surprise drop in U.S. production and lower U.S. crude inventories in official data…

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Futures Markets News Oil 

Oil dips away from three-year highs on signs of overheated market

“With the crude price up by more than 13 percent since early December, some analysts expect a downward price correction following the recent bull-run” reports foxbusiness.com. Oil dipped away from three-year highs on Thursday on signs that a 13-percent rally since early December may have run its course, although a surprise drop in U.S. production and lower crude inventories offered prices some support.More immediate price support came overnight from the United States, where crude inventories fell almost 5 million barrels in the week to Jan. 5, to 419.5 million barrels. Source:…

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Apple Store evacuated after iPhone battery overheats

“An overheated iPhone battery injured a repairman in an Apple store in Zurich and prompted the evacuation of around 50 people from the shop on Tuesday due to smoke, Swiss police said” reports nypost.com. Zurich police said the incident occurred as the repair worker was removing the battery, which overheated and burned his hand slightly. “At the same time, there was a slight build-up of smoke, which led to around 50 customers and employees having to leave the business temporarily,” a police statement said. “The staff responded well and correctly.It…

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Crypto News 

Bitcoin plunges on fears South Korea will shut exchanges

“Bitcoin plunged below $14,000 after the South Korean government warned it may close some cryptocurrency exchanges amid “irrationally overheated” trading” writes Ben Moshinsky for businessinsider.com. Earlier in December, South Korean officials reportedly banned local finance firms from handling bitcoin futures, one of the hottest new financial products to launch in years.Bloomberg News reported that South Korea will require cryptocurrency transactions to name participants and ban banks from offering virtual accounts.UK time: South Korea is an important market for cryptocurrency trading. Source: businessinsider.com Share This:

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Markets News 

Snap, Blue Apron fuel worries about overheated IPOs

“FILE PHOTO: The Blue Apron logo is pictured ahead of the company’s IPO on the New York Stock Exchange in New York, U.S., June 29, 2017” writes Min Read for reuters.com. Earlier, Blue Apron lost nearly a fifth of its value after the meal-kit delivery company’s first quarterly results following its June IPO also missed estimates and compounded worries that Amazon.com will eat its lunch. Click here for a look at the performance of 10 top IPOs in their first year on the market: tmsnrt.rs/2kUZgPZ. That move, along with Amazon’s…

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News Stocks 

There’s an eye-popping alternative to overheated tech stocks

“The group has actually been the beneficiary of outflows from tech funds, Credit Suisse finds” writes Joe Ciolli for businessinsider.com.au. But you could certainly do a lot worse if you’re looking to escape a tech sector that appears to be reaching critical mass.But as that strategy looks increasingly unstable, an intriguing alternative has emerged: large-cap biotech.Calvasina stresses that this is not the case for the broader healthcare sector, which includes hospitals, managed care providers and device-makers, among others.Another argument in favour of large-cap biotech is that it’s currently inexpensive relative…

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Thirsty swipers basically broke Bumble on Fourth of July

“But swipers on Bumble were so thirsty for matches this July 4, they basically broke the app for a short while” writes Rachel Thompson for mashable.com. Hopefully Bumble will bear in mind in future that 4 July is a seriously hot day for swiping.Bumble seemingly couldn’t cope with the amount of swiping going on Independence Day this year, and users were reporting that their conversations and matches disappeared. Source: mashable.com Share This:

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