Markets News 

China is at a ‘historic juncture,’ with outcome uncertain: IMF staff report

“The Chinese economy is at a “historic juncture” having to move from “high speed” growth to “high quality” growth, and how this shift is carried through will determine the country’s development path for decades to come, the staff of the International Monetary Fund said in a report released Thursday” writes Senior Economics Reporter for marketwatch.com. There are tensions in the government’s strategy between, on the one hand, allowing market forces a decisive role and the pervasive role of the state, the report said.Relatively restrictive trade-and-investment regime in some areas and…

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News Stocks 

LSC Communications’ stock sinks to pace NYSE losers after J.P. Morgan turns bearish

“The stock has now shed 6.9% year to date, while the S&P 500 SPX, +0.76% has gained 3.3%” writes Reporter Editor for marketwatch.com. “Overall, we believe risk is skewed to the downside and look for better longer-term fundamental trends in the core business before becoming more positive on the stock,” Quadrani wrote in a note to clients.Prior to Friday’s selloff, the stock had rocketed 31% in the two months ended Thursday.LKSD, -14.41% sank 13% in afternoon trade Friday, enough to make them the biggest decliner among NYSE-listed stocks, after J.P.…

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VC pioneer Ann Winblad: A Facebook opt-out button for data may be an unsustainable business model

“The question is, do you end up with $2 billion consumers with that business model?” she asked” writes Berkeley Lovelace Jr for cnbc.com. Allowing Facebook users to pay to opt out of having their data used by the company would likely be an unsustainable business model, entrepreneur-turned-venture capitalist Ann Winblad told CNBC on Friday.”Facebook is one company of many that leverage data for their business model,” Winblad, who has more than 30 years experience in the tech industry, told “Squawk Box.”. “I think new businesses will spring up that will…

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MoviePass escalates its battle with AMC Theatres by dropping 10 cinemas — and customers are not happy

“New York-based MoviePass, which offers one movie ticket a day to customers who use its red credit cards, has soared in popularity since it dropped its monthly fee to $9.95 last August” writes Ryan Faughnder for latimes.com. But AMC, the world’s largest cinema operator, blasted the new pricing, saying the startup’s model was unsustainable and could do long-term harm to the film industry. Source: latimes.com Share This:

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Congressman: The budget bill is a ‘stunt’ and a ‘gimmick.’ Here’s why I voted for it anyway

“With that in mind, the House of Representatives voted Thursday on the Senate’s budget plan, called a budget “blueprint” in Washington-speak” writes Chris Maddaloni for cnbc.com. In other words, the budget blueprint is simply a necessary procedural step required under Washington’s rules to eliminate a filibuster from Democrats and move forward with badly needed tax relief for families and businesses.It’s called a “blueprint” because in reality it’s just a proposal, not an actual budget like the ones families and businesses use in the real world.Yet as a member of Congress…

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News Regulators 

Fischer says Fed doesn’t see asset prices as ‘unsustainable’

“Outgoing Federal Reserve Vice Chairman Stanley Fischer said Wednesday the central bank doesn’t see an unsustainable bubble building in asset prices” writes Senior Economics Reporter for marketwatch.com. He said the U.S. central bank is usually reluctant to comment on asset prices, saying “I shouldn’t go on.”. But we don’t think we’re in a situation where we have an inflationary bubble or an unsustainable set of prices in the asset market.”. Fischer said he was leaving the central bank early for “personal reasons” but did not elaborate.Responding to a question about…

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No end in sight for debt boom as Brits load up on credit cards 

“British shoppers are using the credit cards more than ever before, stoking fears that households are racking up unsustainable levels of debt” writes Tim Wallace for telegraph.co.uk. After taking into account repayments, that added an extra £606m to households total credit card debts, which now amount to £130.3bn. Fierce competition in the market has led banks to offer increasingly generous terms to new credit card customers, with ever-longer interest-free periods. Source: telegraph.co.uk Share This:

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US heading for recession after 2 years of unsustainable growth, economist says

“The U.S. is headed for a recession in the next two years as excessive fiscal stimulus from the President Donald Trump administration takes the economy into unsustainable territory, Adam Posen, president of the Peterson Institute for International Economics, told CNBC Tuesday” writes Mario Tama for cnbc.com. Posen, who served at the Federal Reserve Bank of New York in the mid-90s, said that GDP (gross domestic product) growth targets of 3 percent or more are unobtainable given current productivity and employment rates in the U.S. Add to that intended tax cuts…

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