The Economist on Twitter

“ @TheEconomist : The Economist explains why autonomous and self-driving cars are not the same http://econ.st/1FX8B7N  pic.twitter.com/xzFfTFbzoM ”

Top News
2
BP to Get Its Life Back After Record U.S. Settlement for Spill

The company used lower prices, which cut its ability to pay a huge fine, to “hammer the government into a payout plan that stretched out over several years,” David Berg, a Houston trial lawyer who tracked the spill litigation but isn’t involved, said by phone. “The terms of this settlement will be easy for BP to meet. Nonetheless, the total amounts are staggering.”

3
The Crowdfunding Campaign to Save Greece Is Raising €23,000 Every Hour

Here is an infographic from Indiegogo with stats on everything from how many donations have been received to the average amount of each contribution. The crowdfunding company says that 167 countries and territories have contributed to the campaign, with the U.K. being the lead contributor so far.

4
The Economist on Twitter

#Dailychart : India has more malnourished people, especially children, than any other country http://econ.st/1NANjCJ  pic.twitter.com/qTOoCxRw8m

5
Why wages are going up more than you think

But that’s the average (or mean): You add up all the income and divide it by the number of people who earned it. The average income isn’t necessarily typical. For instance, if Warren Buffett walks into a bar full of working-class Americans, the average income instantly goes from about $30,000 a year to about $700 million. But no one got a raise (except maybe the bartender who’s hoping for a big tip.)

6
Running From Rare Earth Metals

From smartphones to ballistic missiles and hybrid cars, so much of our high tech works because of rare earth metals. Yet the U.S.' biggest rare earth miner Molycorp has filed for bankruptcy. Bloomberg's Ramy Inocencio explains what rare earth metals are and why Molycorp isn't the only miner on the brink of a bust. (Source: Bloomberg)

7
Financial Times on Twitter

“ @FT : World's best-paid bank CEO? Oh, it is Jamie Dimon again: http://on.ft.com/1JDdLh9  pic.twitter.com/TY7Tjm0F6X ” They're not that good.

8
Fed’s Bullard Shrugs Off Greek Events, Points to Chance of Sept Rate Increase

Mr. Bullard’s suggesting that rates may need to be lifted more aggressively in the future puts him at odds with some of his central bank colleagues. Many key Fed officials are now gravitating to the view that changes in labor market demographics and other forces may mean the Fed could keep rates at a lower level relative to historic benchmarks. Most officials now expect that the long-term fed funds rate target, now at near zero levels, will likely stand at around 3.75%.

9
Greece’s Prime Minister May Be About to Do Exactly What He Said He Wouldn’t

“This trip shows the ongoing evolution of his political profile towards more of a social democrat,” said Domenico Lombardi, a senior fellow at the Brookings Institute and former representative for Italy to the IMF’s executive board. Mr. Lombardi says Mr. Tsipras’s U.S. tour highlights Syriza’s shift to a more balanced, politically mature position that could garner further backing in Greece and is more palatable overseas.

10
Why Grexit odds are probably 99% wrong - FT.com

© The Financial Times Ltd 2015 FT and ‘Financial Times’ are trademarks of The Financial Times Ltd. Privacy policy | Terms | Copyright

11
FT Explainer: Why are China’s stock markets so volatile? - FT.com

FT Explainer: Why are China’s stock markets so volatile?

12
New Images Show China’s Swift Construction of Airstrip on Disputed Reef

Images released this week show that China has almost finished building a 3,000-meter airstrip on a disputed reef in the South China Sea – with experts projecting further construction in the months to come.

13
Varoufakis Would 'Cut Arm Off' Before Signing Accord

Greek Finance Minister Yanis Varoufakis said he would "prefer to cut my arm off" than sign a new accord that doesn’t restructure Greece’s outstanding debt. (Source: Bloomberg)

14
Stephen Colbert urges Eminem to think about retirement

“I’m very serious,” he continued. “If you don’t have a retirement account by the time you’re 50, you’re dead in the water. There’s nothing to be done at that point. You’re a greeter at Wal-Mart WMT, -0.03%   at that point.”

15
The Steinmetz affair 4/4: The Magnate

In the final episode of the series, FT investigations correspondent Tom Burgis looks at the man behind BSGR, the mining company at the heart of an intercontinental corruption probe. Find out more at ft.com/steinmetzaffair

16
Greece needs €60bn in new aid, says IMF - FT.com

Greece needs €60bn in new aid, says IMF

17
Return to Drachma Will Kill Greek Economy: Samaras

Antonis Samaras, Greece’s New Democracy party leader, discusses how the decision on Sunday’s referendum impacts the Greek people and why a return to the drachma from the euro is unacceptable. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)

18
Jobs at a Crossroads: Hiring Up, Pay Flat

The U.S. job market sits at a crossroads six years into a fitful economic expansion: Hiring is strong, but weak wage growth has failed to pull millions of would-be workers off the sidelines while prompting others to drop out of the labor force.

19
The Economist on Twitter

Why Greece's fall in debt sustainability is only its government's fault http://econ.st/1JCOVxZ  pic.twitter.com/kXtVOJkCHY

20
Camp Alphaville 2015 – the dark net - FT Business - Companies & Management Video - FT.com

Camp Alphaville 2015 – the dark net Jul 1, 2015 : FT Alphaville’s Izabella Kaminska speaks to George Washington University’s Henry Farrell at Camp Alphaville about Silk Road, the online black market for drugs, how it evolved and whether markets always end up being regulated.

21
BP Pays Record $18.7 Billion to Settle Claims in Gulf Oil Spill

BP Plc reached a record $18.7 billion agreement to settle all federal and state claims from the 2010 Deepwater Horizon oil spill after an abrupt strategy shift in May to re-open talks, three people close to the matter said.

22
SNC-Lavalin Group Inc fraud case postponed again until October

In a brief appearance at a Montreal courtroom on Friday, Judge Denis Lavergne postponed proceedings after Crown prosecutors handed about 1,000 new documents to the Quebec engineering and construction company’s lawyer in the case, François Fontaine.

23
Puerto Rico’s Pain Is Tied to U.S. Wages

Puerto Rico’s long-simmering debt crisis owes much to an economy that has been shedding jobs for years. And blame for that, economists say, stems in part from how the island operates under the same wage rules as the more prosperous 50 states.

24
Aetna to Buy Humana for $37 Billion

Aetna Inc. said Friday that it had agreed to buy Humana Inc. for $34.1 billion in cash and stock, following weeks of frenzied merger talks among the largest health insurers.

25
How Facebook and Campbell Soup Are Trying to Read Your Mind

A host of new companies founded or staffed by brain researchers have some advice for advertisers: Read your customers’ minds. In a world of ever-shrinking attention spans, where consumers flit through social media sites and skip right past online ads, advertisers are turning to neuroscience to better understand how to steer buyers toward their products.

26
6 ways the banking industry could improve on cybersecurity

The GAO found that, firstly, regulators don’t collect security and threat information from banks in a way where they could see patterns among different institutions. And whatever they do collect is hodgepodge — varied in detail and usually not broken down into categories to differentiate between the types of threats. That makes it much harder to see the forest for the trees.

27
Savory Ice Cream: A Taste Test

Capogiro Gelato, Philadelphia The gelato and sorbet maker has created more than 380 flavors since it opened in 2002. Its latest is bright and refreshing—like spooning up fresh berries—with an herbaceous undertone and a pleasing, seedy crunch. $10/pint; capogirogelato.com

28
Unemployment falls to 5.3% -- lowest in 7 years

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer . Morningstar: © 2015 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2015. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.

29
For Spain’s Mariano Rajoy, Greece crisis is a political gift - FT.com

For Spain’s Mariano Rajoy, Greece crisis is a political gift

30
The Economist on Twitter

Heinz has completed its takeover of Kraft--but processed foods losing popularity http://econ.st/1GUq7vj  pic.twitter.com/GgvN4rqJgY

31
Could NBA Free Agents Bail Out Greece?

The spending spree didn’t stop on Thursday. By evening in Athens, as the citizenry weighed the pros and cons of signing up for deeper austerity measures or leaving the eurozone entirely, NBA teams were closing in on the $1.7 billion mark. LaMarcus Aldridge, DeAndre Jordan and Marc Gasol are still considering the finer points of their maximum-level deals—which means the NBA free-agency total could surpass Greece’s missed loan payment by Sunday’s referendum.

32
The one person you should NOT unfriend on Facebook

So don’t do it. In fact, this is the one person you should not unfriend on Facebook. People give contracts to those they like and trust and this is an opportunity for you to cement ties. LinkedIn can be very dry with people posting articles about things like the five most effective marketing strategies, but Facebookers can get on their soap box. Avoid both. This is a place where you can potentially shine and, at the very least, knowing this person is a Facebook friend might make you think carefully before posting.

33
5 things investors should know, but don't

Investing should be a continuous educational process. You can never know everything. But if one day you do think you have it finally all figured out, you can bet that is when your portfolio will blow up.

34
Hilsenrath Analysis: Jobs Report Keeps Fed on Track for 2015 Rate Increase

June marked the 57th consecutive month of U.S. job gains, the longest stretch on record. However, the pace of payroll expansion has slowed. Employers have added an average 208,000 jobs a month, down from last year’s monthly average of 260,000. Moreover, wage growth is tepid. Average hourly earnings of private sector workers in June were $24.95, unchanged from the previous month and up 2% from a year earlier. While some other metrics of wage growth and unit labor costs have shown signs of picking up, the hourly earnings measure hasn’t.

35
The Economist on Twitter

“ @TheEconomist : A bad week for China's stockmarkets could be felt for years to come http://econ.st/1GTOKrY  pic.twitter.com/T7HmftDM0E ”

36
The Economist on Twitter

Aphorisms may be short, memorable and poetic, but many are also total rubbish says @lanegreene http://econ.st/1C1Qu5t  pic.twitter.com/O3hAOcKAmY

37
Vancouver's hot housing market shows no sign of easing as prices and sales hit fresh records

“Housing market activity comes in cycles; we’re in an up cycle right now that looks similar to the mid-2000s,” McLeod said. “It would be easy to point to one factor that’s causing this cycle, but the truth is that it’s a number of different factors. Conditions today are being driven by low interest rates, a declining supply of detached homes, a growing population, a provincial economy that’s outperforming the rest of Canada, pent-up demand from previous years and, perhaps most importantly, the fact that we live in a highly desirable region.”

38
Rent out your home but make sure you're insured for the orgy

“Here’s the problem: People are looking for opportunities where they they can make some money by renting out their property. But consumers may be unaware about the gaps and the risks and the limits in their (insurance) policy and, as a result, there could be serious implications,” says Steve Kee, director of media relations with the Insurance Bureau of Canada. “If your policy says strictly no commercial use and you use it for commercial, it’s pretty clear they can cancel your policy or deny you coverage.”

39
10 most expensive colleges

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer . Morningstar: © 2015 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2015. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.

40
Greeks Split Down Middle Before Bailout Referendum: Bloomberg Poll

A poll commissioned by Bloomberg News showed 43 percent intend to vote “no” to reject the austerity demanded by creditors in exchange for financial aid; 42.5 percent back a “yes” to accept the conditions, the survey of 1,042 people by the University of Macedonia Research Institute of Applied Social and Economic Studies showed. The margin of error was 3 percent.

41
China Setting Up Fund to Stabilize Stock Market

BEIJING—China is establishing a market-stabilization fund aimed at fighting off the biggest stock selloff in years, as concerns grow among the Chinese leadership that the stock-market malaise could be spreading to other parts of the world’s second-largest economy.

42
Get Ready to Weather the Price of El Niño

WELLINGTON, New Zealand—The return of the so-called El Niño weather phenomenon this summer is forcing agricultural commodity players, from wheat farmers in Australia to traders in high rise office blocks in Singapore, to prepare for low crop yields and heightened price volatility.

43
Osborne plans ‘non-dom’ tax crackdown in Budget - FT.com

Osborne plans ‘non-dom’ tax crackdown in Budget

44
Are You Expecting a Raise This Year?

Bloomberg’s Tom Keene, Vonnie Quinn, and Michael McKee examine viewer responses to the Twitter question of the day. They speak on “Bloomberg Surveillance.” (Source: Bloomberg)

45
How this high quality skin care line went from a home-based project to Nordstrom

Linda Stephenson knows her way around the complicated and competitive cosmetic market. Stephenson, who is a chemist and biologist and a consultant by trade, applied her years of training and experience to address a market need in skin care. From her home, she developed Mèreadesso, a line of high quality, one-step skin care offerings suitable for all skin types. Mèreadesso Inc. has since expanded into a much larger retail presence, including a recent deal with Nordstrom Canada. Stephenson tells the Financial Post how the business grew from a home-based project to a nationwide retail and ecommerce success.

46
Unionization: McDonald's Isn't Lovin' It

One might think that the low-paying fast-food industry would be an easy place for organized labor to find recruits, but since small franchisees, rather than big outfits such as McDonald’s Corp., employ almost all the workers, it’s a particularly tough challenge for unions. The SEIU is working to convince the industry to allow unions and pay more, but it's a long-shot effort. (Source: Bloomberg)

47
FirstFT — Greek ‘blackmail’, US airfare probe - FirstFT - World & Global Economy Video - FT.com

FirstFT — Greek ‘blackmail’, US airfare probe Jul 2, 2015 : Josh de la Mare provides Thursday’s top stories from around the world, with Europe confused by the Greek prime minister’s mixed messages, US airlines under investigation over the high price of flying and a worker has been killed by a robot at a Volkswagen plant in Germany.

48
The U.S. Is Producing a Record Amount of Milk and Dumping the Leftovers

Domestic output in May reached 18.4 billion pounds, the most in any month, and is on pace to reach a record 208.7 billion pounds this year, the U.S. Department of Agriculture said June 18. Globally, production will rise 2.1 percent to a record 582.52 million tons as top exporter New Zealand sells the most ever and the European Union ends limits on dairies that had been in place since 1984, the USDA said.

49
Anthem, Cigna rekindle merger talks

Anthem ANTM, -1.26%  has been trying to combine with Cigna CI, -0.46%  for nearly a year, but the two companies have struggled to agree on price and other terms, including who would run the combined company. The effort came to a head on a June Saturday when Anthem disclosed a series of bids that month, including, most recently at $184 a share.

50
Greece needs US$40 billion in new financing from eurozone countries, IMF says

Even if Greece delivers on reforms proposed by its international creditors, euro countries will have to come up with new financing and ease the nation’s debt load through steps such as doubling maturities on existing loans, according to a June 26 “preliminary draft” debt-sustainability analysis released Thursday.

51 Breaking News, World News & Multimedia
52 The Four Books You Must Read If You Really Want to Understand Currency Markets
53 Prince Alwaleed of Saudi Arabia pledges his fortune to charity - FT.com
54 Key Greek Referendum Debt Document Mistranslated
55 Tsipras Is Learning From Merkel Who’s the Boss
56 Greece Orders Banks Closed, Imposes Capital Controls to Stem Deposit Flight
57 How to Make a Beer Ice Cream Sundae, the Perfect Boozy Dessert
58 Forget Backyard Pools, Build a Swimming Pond Instead
59 America’s Best Public Art for Summer 2015
60 Luxury Rosés Are a Real Thing, and Here Are the Ones Worth Splurging For
61 24 hours with a super rich family's concierge - CNNMoney
62 5 mind-blowing predictions about the future from Mark Zuckerberg
63 These Are Wall Street's Must-Read Books of the Summer
64 Wealthy People Still Love Shopping the Old-School Way
65 Fears of a Pan Am Games flop: Toronto faces empty hotel rooms, unsold tickets and angry locals
66 These Tech Innovations Are Works of Art. Literally.
67 Greek Default Deals Blow to IMF
68 Twelve Unusual Brews That Will Blow Up Your Summer BBQ
69 Can Craft Beer Survive AB InBev?
70 U.S. Workers Ask: Where’s My Raise?
71 Rising cocoa prices eat into chocolate bars - FT.com
72 How to be Elon Musk: 10 secrets of the craziest billionaire
73 Eight Condiments to Take Your Cookout to the Next Level
74 Visa, Mastercard drop Backpage.com after sex trafficking claims
75 China's Gamers Aren't Buying Many Consoles
76 OverSavers Anonymous: Where Prudent Savings Meets Pathology
77 Fed’s 2016 `Dot Plot` Points to Rate Hike Change
78 The Summer Fashion Guide: What to Wear for Outdoor Occasions
79 MIT research analyzing faces may explain why these CEOs are successful
80 Greek Crisis Highlights Euro Paradox at Heart of Eurozone’s Plight
81 Job interview process takes 10 days longer than it did five years ago
82 Euro’s Salvation Lies in Its Political Appeal
83 Jeb Bush Releases 33 Years of Tax Returns
84 ECB adds state companies to QE buying - FT.com
85 Keys to a USA Soccer World Cup Win
86 UK gene therapy trial offers hope on cystic fibrosis - FT.com
87 Faces behind Greece’s radical government - FT.com
88 Best Watch Straps for a Sweat-Free Summer
89 Watch How a Legendary Bourbon Beer Is Made
90 The Surprisingly Risque World of Society Painter John Singer Sargent
91 America’s Tooth Fairy needs a reality check
92 How One Company Owns Your Entire Dating Life
93 U.K. Politician Theresa May Voted 'Internet Villain of the Year'
94 Amp Up Your Day Drinking With Calvados-Spiked Beer
95 Wozniak Says Scene in Jobs Trailer Is Fiction, Loves It Anyway
96 The Ten Things You Need to Buy This Summer
97 Europe’s Great Project Faces Its Biggest Challenge in Greek Bailout Referendum
98 Something else millennials like to share: an interest in being fit
99 Puerto Rico’s Pain Is Tied to U.S. Wages
100 Apple Music: attempting to recapture the spirit of the iPod - FT.com