Economy
Dow makes major recovery, rebounding from 471-point plunge (Thomas R.)
Monday is just the latest time that US stocks have recovered from an early morning plunge. In fact, the S&P 500 managed to close higher during half of the prior eight times it plunged 1% or more at the open, according to Bespoke Investment Group.
Sequoia China to cut up to 20% of investment staff as tech growth slows: Sources (Adam)
The layoffs would come after a government campaign against debt financing left startups vying for shrinking pools of fresh capital. Meanwhile disappointing returns from firms going public amid market volatility has made investors bearish, resulting in down rounds – where a firm’s valuation in a round of fundraising falls below that of a previous round.
Officials figure out why key fobs, garage door openers in North Olmsted mysteriously stopped working (Thomas R.)
According to the city, a custom device inside a resident home was the source of the interference. It was found after councilman Chris Glassburn and a volunteer retired communications employee used a de-amplifier to find the source of the issue after muting the signal. Glassburn says the signal was so powerful, it threw off other detection devices. He says muting it allowed for them to pick up the signal when they were close to it.
3 tips for financial planning when a family member has special needs (Thomas R.)
The worst mistake you can make is having no plan. This sometimes happens because it’s so overwhelming it prevents a family from planning at all. But it doesn’t have to be a massive undertaking in every case, said Nadworny: a young family may just need life insurance and an estate plan. What you need can evolve over time.
Don’t overlook estate planning if you have limited means either, it’s critical to put basic safeguards in place if someone relies on you for care.
7 Laws of Investing (GE Christenson)
RISK IS THE PERMANENT LOSS OF CAPITAL, NEVER A NUMBER: Gold and silver coins and bars will always stay valuable. There is risk of permanent loss of capital with COMEX paper gold and silver, buying on margin, or trusting banks to hold your metals. Minimize risk!
Buffett’s Big Bet On Energy (Michael S.)
At the same time, Buffett dismissed the need for sustainability reporting that a lot of activist shareholders had insisted on. Berkshire Hathaway, according to him, was successful in part because of its habit of keeping “needless reporting” and expenses to a minimum. The company’s “batting average” in the sustainability area was pretty good, Buffett went on to say, noting that Berkshire preferred having individual investors as shareholders rather than institutions, which effectively removes the activist shareholder threat.
Sunscreen enters bloodstream after just one day of use, study says (newsbuoy)
“Studies need to be performed to evaluate this finding and determine whether there are true medical implications to absorption of certain ingredients,” said Yale School of Medicine dermatologist Dr. David Leffell, a spokesman for the American Academy of Dermatology. He added that in the meantime, people should “continue to be aggressive about sun protection.”
Tyson Recalls Nearly 12 Million Pounds of Chicken Strips That May Contain Metal (Thomas R.)
The FSIS is encouraging consumers to check their own freezers, and either return or dispose of any products that may have been affected: “FSIS is concerned that some product may be in consumers’ freezers. Consumers who have purchased these products are urged not to consume them. These products should be thrown away or returned to the place of purchase.”
Is Nature Over? Maybe (Adam)
Those numbers hint at an underlying truth: By acting like Earth was designed solely for human habitation, crop development and energy exploitation, we’ve raised extinction rates and put the natural world on the brink of collapse. The IPBES report — the first like it since 2005 — highlights the fact that things are so bad we’re endangering our continued existence.
One million species face extinction, U.N. report says. And humans will suffer as a result. (tmn)
For example, ocean ecosystems are degrading as temperatures rise toward 2 degrees Celsius — 3.6 degrees Fahrenheit — above preindustrial levels, the study warns. Coral reefs lost to warming and acidifying oceans could cause a collapse in commercial and indigenous fisheries, affecting billions of coastal residents who rely on seafood for protein.
Forget the Anthropocene: we’ve entered the synthetic age (tmn)
Early this summer, a research team from Harvard University will conduct the first field test of geoengineering the climate. They plan to use a high-altitude balloon to place reflective particles into the stratosphere above the arid landscapes of the US Southwest. There they will examine how effectively the particles beat back incoming solar energy. Scaled up appropriately, the technology could in future be used to rewrite the planetary rules in a way that echoes the changes wrought by gene drives.
Gold & Silver
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