News 

Microsoft adds AI and IoT cautionary language to its earnings

“In fact, going back through the past few Microsoft earnings releases shows the language shifts every few quarters” writes Emil Protalinski for venturebeat.com. All of that meant a smaller tidbit slipped through: three additions and three minor changes made to the earnings release.Calling out artificial intelligence (AI) and the Internet of Things (IoT) as factors that impact earnings, however, isn’t so typical, although certainly long overdue for Microsoft.The company wouldn’t say. “We are always updating the cautionary language in our earnings press release to reflect our evolving portfolio of products…

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Markets News Regulators 

Trade war risks becoming a dangerous currency war as China weakens yuan the most in 2 years

“On the surface, the tit-for-tat trade war between the U.S. and China appears to be turning into a currency war” writes unknown author for cnbc.com. But some market pros believe if trade wars begin to impact the economy, the Fed rate hikes will slow down.Strategists said the trade war appears to be moving toward a currency war, but whether it becomes one has yet to be seen.Trump told CNBC that trade partners are “making money easy and their currency is falling.”.  Source: cnbc.com Share This:

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Markets News Regulators 

The ECB’s bond-buying program could have masked major risks

“She was talking about the effects of the ECB’s bond buying program as part of a broader warning that investors are no longer seeing risks” writes Wolf Street for businessinsider.com. When credit risk is not being priced at all – when it’s free – this most important gauge of the credit market is worthless.Credit risk wasn’t priced in at all.That’s when investors will begin to discover, as Erdoes put it so elegantly, that they have “a bunch of walking-zombie companies.”.  Source: businessinsider.com Share This:

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Crypto News Regulators 

Fed Chairman Powell says cryptocurrencies present big risks to investors

“Bitcoin, the world’s most popular cryptocurrency, traded 1.5 percent higher at $7,430.01 on Wednesday, according to data from CoinDesk” writes Yuri Gripas for cnbc.com. The head of the Federal Reserve raised concerns about cryptocurrencies on Wednesday, saying they present serious risks to investors.The Fed chairman also said cryptocurrencies are not real currencies because they have no intrinsic value.”There are investor and consumer protection issues as well,” Powell said in front of the House Financial Services Committee.Powell previously commented on crypto last November, when he said that a drop in cryptocurrency…

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News Regulators 

Fed chairman warns of cyberattack risks to US financial system

“Jim Himes, D-Conn., who asked him at a House Financial Services Committee hearing what threats to the financial system might be going unnoticed” writes Graeme Jennings for washingtonexaminer.com. Cyberattacks are the top underappreciated risk to the U.S. financial system, and Congress should do much more to prepare for attacks on banks, Federal Reserve Chairman Jerome Powell warned Congress on Wednesday. Otherwise, he said, more predictable risks to the financial system are moderate, although some assets, such as commercial real estate, are high. “I wouldn’t use the ‘bubble’ word here, but…

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News 

Three financial titans are worried we’re forgetting the lessons learned from the 2008 crisis

“Three men who played a central role in the US response to the 2008 financial crisis have voiced concern that the country may be forgetting the lessons learned from the crisis” writes Michael Selby-green for businessinsider.com. President Trump’s administration has been spearheading a loosening of Dodd-Frank, the law passed after the financial crisis to tighten financial regulatory loopholes.This combined with what they called the US’ “dysfunctional” political system could cause trouble if another financial crisis were to strike, they said.The 2010 saw was designed to make the US financial system…

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GBP News 

David Davis: Britain risks ‘giving up a real future’ over Brexit

“David Davis has warned that Britain risks “giving up a real future” over Brexit in his first intervention since quitting the Cabinet over Theresa May’s Chequer’s compromise” writes William Hague for telegraph.co.uk. The Brexit Secretary said that the EU is “slow and not very effective” and warned that Britain benefits the least from its current free trade with Brussels. The former Brexit Secretary urged MPs to back the customs bill and the trade bill this week, before arguing how business can operate… Source: telegraph.co.uk Share This:

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Crypto Markets News 

Global regulators start monitoring crypto assets

“It said its affiliate, the Basel Committee, which writes bank capital standards, is conducting an “initial stocktake” of banks’ exposures to crypto assets” writes Midwest Communications Inc for 95kqds.com. LONDON (Reuters) – Global regulators have published a framework for “vigilantly” monitoring risks from crypto assets like bitcoin and ether, even though they don’t pose a major risk to financial stability for now.Wild swings in crypto asset prices have prompted central bankers to warn investors they could lose every penny.The aim of the new framework is to spot any financial stability…

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News Oil 

U.S. oil risks closing below a key short-term level for the first time in 3 weeks

“The U.S. oil contract’s short-term 50-day moving average stands at $69.50 a barrel, and hasn’t closed below that short-term line since June 25, according to FactSet data” writes Mark Decambre for marketwatch.com. Meanwhile, Brent oil LCOU8, -2.81% the international benchmark, was off 2.4% at $73.53 a barrel.Still, U.S. oil has rallied by 15.3% so far this year and Brent has gained more than 10%.Crude-oil prices early Monday were trading sharply lower, with the U.S. benchmark on track to drop beneath a key short-term level that could imply near-term momentum for…

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News 

Trump order risks ‘politicization’ of administrative, mostly Social Security, judiciary

“A Trump executive order says administrative law judges, who primarily work for the Social Security Administration, will no longer be hired by the competitive civil service process that is a mainstay of an impartial bureaucracy” writes Columnist Joe Davidson for washingtonpost.com. Until this week, lawyers needed seven years’ experience and were centrally vetted through the Office of Personnel Management (OPM) before they could be administrative law judges.Democrats decried Trump’s executive order.The judges, known as ALJs, conduct courtlike proceedings on disputes between federal agencies and clients, such as Social Security recipients…

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