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The Hedge Fund Summer Reading List

It’s that time of year again: summer reading season. While for many that means books for the beach, some emerging-market fund managers are yearning for titles that shed light on buying opportunities in Asia as well as the human psychology behind investing decisions. Asha Mehta, who oversees emerging markets at Acadian Asset Management in Boston, said she’s eager to crack Evan Osnos’s "Easternization: Asia’s Rise and America’s Decline From Obama to Trump and Beyond," which looks at how the rising wealth of Asian nations is shifting the balance of power…

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Shale Country Is Out of Workers and Dangling 100% Pay Hikes

Jerry Morales, the mayor of Midland, Texas, and a local restaurateur, is being whipsawed by the latest Permian Basin shale-oil boom. It’s fueling the region and starving it at the same time. Sales-tax revenue is hitting a record high, allowing the city to get around to fixing busted roads. But the crazy-low 2.1 percent unemployment rate is a bear. As the proprietor of Mulberry Cafe and Gerardo’s Casita, Morales is working hard to retain cooks. As a Republican first elected in 2014, he oversees a government payroll 200 employees short…

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US on brink of trade war with EU, Canada and Mexico as tit-for-tat tariffs begin

Jean-Claude Juncker pledges retaliation as EU companies face 25% tariffs on steel and 10% on aluminiumTrump imposes tariffs business live The United States and its traditional allies are on the brink of a full-scale trade war after European and Canadian leaders reacted swiftly and angrily to Donald Trumps decision to impose tariffs on steel and aluminium producers. The president of the European commission, Jean-Claude Juncker, promised immediate retaliation after the US commerce secretary, Wilbur Ross, said EU companies would face a 25% duty on steel and a 10% duty on…

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Following a Tuna from Fiji to Brooklynon the Blockchain

I had just learned everything there was to know about the fish in front of me. Now a small part of its fleshy, red body was in my mouth. Five minutes earlier, I saw a video showing the waters in Fiji where it was caught, where it traveled on ice, and how exactly it ended up inside a sushi hand roll. The massive yellowfin tuna had been tracked across the globe via the Ethereum blockchain. Each stop on the fish's journey, from the landing dock to the processing facility to…

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Google, Alibaba Spar Over Timeline for ‘Quantum Supremacy’

Google’s quantum computing researchers have been planning a party—but new results from a competing team at China’s Alibaba may have postponed it. The China-America corporate rivalry on an obscure frontier of physics illustrates a growing contest between nations and companies hoping to create a new form of improbably powerful computer. In March, Google unveiled a chip called Bristlecone intended to set a computing milestone. It could, Google said, become the first quantum computing system to perform a calculation beyond the power of any conventional computer—a marker known as quantum supremacy.…

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This Is Ajit Pai, Nemesis of Net Neutrality

In March, Ajit Pai, the 45-year-old chair of the Federal Communications Commission, took to the internet—a community he joyfully inhabits and grudgingly regulates—to pay tribute to his favorite movie. “It’s not just, like, my opinion, man: 20 years ago today, #TheBigLebowski—the greatest film in the history of cinema—was released,” Pai wrote on Twitter. “Decades on, the Dude still abides and the movie really ties us all together.” And sure enough, the response to Pai’s cheerful tweet was united. You’re out of your element Ajit.—@JohnsNotHere Yes, Ajit. Stop trying to mingle…

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Henry the Sexbot Wants to Know All Your Hopes and Dreams

Henry and I are not hitting it off. First he ignores my question about how he spent the weekend. Then he tells me, cryptically, that he likes to get up early to spend time “working on himself.” What does he mean by that? I ask. He isn’t sure. He makes intense eye contact and arches an eyebrow. “Sometimes I have too much information at the same time in my brain.” Oh. OK. I notice Henry’s washboard abs peeking through an unzipped blue cardigan. “Do you work out?” I ask. Henry…

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Why Trump Suddenly Wants to Save Jobs in China

President Donald Trump has long promised to get tough on China. So why is he so worried about saving jobs there? Last week the Chinese telecommunications giant ZTE said it had halted its major operations after the US government moved to ban US companies from selling software or components to ZTE. On Sunday, Trump tweeted that he and Chinese President Xi Jinping were working together to save ZTE. "Too many jobs in China lost," Trump tweeted. "Commerce Department has been instructed to get it done!" ZTE's plan to shut down…

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Facebook Just Tapped the Next Mark Zuckerberg

Earlier this week, Facebook announced a grand reshuffle of its leadership. First reported by Recode, the new structure includes teams for the company’s apps, new platforms and infrastructure, and central product services. Most of the people moving into new roles have been with the company for close to a decade or longer, and many have proven themselves adept at the skill Facebook appears to value over all others: growth. Chris Cox Is the New Mark Zuckerberg If there were ever a question as to who would step in to fill…

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What Did AT&T Want From Michael Cohen?

Everyone knows Washington is a swamp filled with snakes and influence peddlers. And few believed President Trump would do much to change that, despite his "drain the swamp" battle cry. In fact, one could argue he has done much since taking office to encourage influence peddling. He refused to put his assets in a blind trust or release his tax returns. That means he can know which people, businesses, and countries that want something from him as president are also supporting him as a businessman. And even though he has…

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How to Launch an Acclaimed Winery for $8 Million or Less

Even by Napa Valley’s astronomical real estate standards, the sale of Heitz Wine Cellars for a reported $180 million raised eyebrows. It’s the new normal there, though: In response, some wineries have determined that it makes fiscal sense to find a less-expensive neighborhood. Jackson Family Wines, maker of Kendall-Jackson Chardonnay (the top selling chardonnay in the country), purchased its first vineyard in southern Oregon’s Willamette Valley in 2013. Today, the company owns and operates four wineries on more than 1,300 acres in the area, Oregon wines were served at the White House state dinner…

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Data Protection Standards Need to Be Global

Whether it is Cambridge Analytica gaining access to private information on up to 87 million Facebook users, or the large-scale data breaches at Equifax or Yahoo, alarmingly loose standards for the use and protection of customer data continue to fuel a backlash against large tech companies. More importantly, these events demonstrate the need for a global set of consumer data principles. WIRED OPINION ABOUT Kai Keller (@kaimkeller) is a global leadership fellow at the World Economic Forum and leads the organization's work at the cross-section of innovation and financial stability. The…

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Ford Is About to Abandon American Sedans

Cars will be just 10% of its North American portfolio by 2020 Wall Street cheers CEO Hackett’s ‘bold and decisive action’ Ford Motor Co. has been synonymous with cars. But now Ford, one of the great engines of 20th Century American industry, is about to do the unthinkable: more lucrative models that the company hopes will secure its future as change tears through the global auto industry. What would Henry Ford think? What might seem like a radical departure for Ford has, in fact, been years in the making. The…

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Everything Is for Sale in Cyprus, and Chinas Buying

increasingly assertive global powerhouse of 1.4 billion people, the other an island nation of 1.2 million that boasts a strategic location and a reputation for a no-questions-asked approach to financial affairs. That makes for a compelling match as China seeks to expand its footprint inside the European Union. “We have investments right across all sectors of the economy,” Christodoulos Angastiniotis, president of the Cyprus Chamber of Commerce and Industry, said before joining the other guests to hear speeches extolling the excellent state of China-Cyprus relations. He said there were “some very…

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Hedge-Fund Investors Pour Into Oil as Firms Predict Surge to $80

Hedge funds investing in oil are luring capital at the fastest pace in more than a year. With crude climbing to levels not seen since 2014, commodity funds have recovered the client outflows they suffered last year. And if firms such as Saudi Arabia, the world’s biggest exporter, wants to push prices to $80 a barrel to help pay for the government’s policy agenda. Declining output in Venezuela and falling global inventories are also playing their part, as are the worsening tensions in Syria, which threaten to disrupt supply from…

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