President Tayyip Erdogan is reasserting control with a vengeance. His crackdown after Turkey’s attempted military coup offers stability of sorts, which explains why domestic markets have pared some of their kneejerk losses. But it also engenders uncertainty, which investors loathe. Luring foreign money to the country will now be harder.
from Reuters News Now:
Montrell Jackson was 32 years old. He was a 10-year veteran of the Baton Rouge Police department. He was once injured trying to save a young child from a burning building, according to the Advocate, the city's local paper. And a few months ago, he welcomed a son into the world. Yesterday, he was one of three officers killed by an ex-Marine sergeant who served in Iraq.
from Expert Zone:
(Any opinions expressed here are those of the author and not of Thomson Reuters)
The Nifty rallied past the psychological mark of 8,500 for the first time in 11 months to close at 8,541. Global markets were buoyed by better-than-expected U.S. jobs data and cheered the victory of Japan’s ruling coalition in the upper house election. PM Shinzo Abe is expected to unveil a fresh stimulus package to help the country’s stagnant economy.
from Alison Frankel:
The Securities and Exchange Commission on Thursday accused the litigation financier RD Legal Capital and its founder, New Jersey lawyer Roni Dersovitz, of deceiving investors in the $170 million fund about where their money was being deployed. By 2015, as The Wall Street Journal was the first to report, Dersovitz's interrelated funds were heavily concentrated in an anti-terror case accusing Iran of responsibility for the 1983 bombing of Marine barracks in Beirut. But even though more than $100 million of RD Legal's capital was tied up in the litigation against Iran, according to the SEC order instituting an administrative proceeding against the funds, RD principals allegedly told investors repeatedly that their exposure to the case was limited and that the funds' primary strategy was buying legal fee receivables in cases that had already been settled.
New UK Prime Minister Theresa May is assembling a cabinet that may deliver Brexit-lite. Meanwhile, the surprising success of Pokemon Go bodes well for much broader use of augmented reality. And Jamie Dimon has both selfish and smart reasons for boosting bank teller pay.