Netflix continues in their attempt to globalize their brand by entering into the Chinese market with the help of Jack Ma-backed media company, Wasu. The Chinese government, however, requires the company to hold off on releasing unfinished TV shows. All episodes are required to go under screening by the censorship departments, cutting out what is deemed explicit or offensive to the Communist Party. Free market capitalism! Free market capitalism! Free market capitalism!
Urban Outfitters, rocked by their latest controversy (when they printed a Kent State sweatshirt with what looked like to be blood on it), reported a solid quarter, making 12% gains on revenue. Lets hope they’ve learned from their PR disasters. Like, seriously.
India’s caught the gold bug. They’ve imported over 100 tons for the second consecutive month!
Pandora is facing a large bill after the courts ruled in favor of the music licensing group, BMI, which claimed that Pandora’s royalty rate was absurdly low. The courts ruled that BMI’s 2.5% royalty was “reasonable,” but Pandora is seeking an appeal.
Citi explains why Wall Street continues to produce bubbles: Because fund managers are fired if they play against the bubble.
Looks like Barclays plc is going to get fined for interest-rigging. *tugs at shirt collar* The fine could be in the amount of up to $60 million. If found guilty, Barclays would become the second bank to get penalized (UBS is first) for breaking “good behavior” — whatever that means. My only question is: What about the 1% return on our savings?
Although McDonald’s is the largest purchaser of beef products, they’ve been losing money! $400 million, in fact! Profits declining? Damn the kale-eaters.
Is Putin feeling it? The Russian economy shrunk for the first time since 2009 after oil prices and inflation took a toll on its economy. Some citizens are having a hard time affording cabbage.
Ding-ding-ding, the market is open!
Oil is going down, down, down, down…. It makes me so…. Down, down, down, down…
Facebook is in trouble! Watchdogs accuse the social media giant for openly disregarding European privacy laws.
So Carl Icahn invested $100 million into Lyft, which is now valued at $2.5 billion. How’s your week been, guys?
Radioshack is trying to get the courts to allow them to sell customer data (because y’know, bankruptcy). AT&T and Apple are trying to prevent Radioshack from doing so.
Apparently it’s still not too late to get into Apple and reap the rewards. “Don’t hate it because it’s popular,” writes Jeff Reeves. Well, that Citi article kind of confirms the bubble then, doesn’t it?
Well, things aren’t looking too hot right now. Is this the mid-afternoon slump everyone refers to?
Is the public aware that there is a “live” oil leak that’s been spilling the black goop-y stuff in the Gulf Of Mexico for over a decade? Taylor Energy Company, owners of the since-collapsed oil drill have “downplayed the leaks”.