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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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China Political Advisers Urge Response to U.S. Tariffs

Delegates from China’s top political advisory body, the Chinese People’s Political Consultative Conference, convened Saturday in Beijing. The representatives from a variety of political, social, economic and corporate organizations are meeting in parallel with a two-week session of the rubber-stamp parliament that begins Monday.  The legislature is expected to enact sweeping changes that would allow President Xi Jinping to rule indefinitely and give him greater control over the levers of money and power. The agenda includes repealing presidential term limits, creating a powerful new agency to police officials and possibly approving…

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Trump’s Solar Tariffs Mark Biggest Blow to Renewables Yet

President Donald Trump just dealt his biggest blow to the renewable energy industry yet. On Monday, Trump approved duties of as much as 30 percent on solar equipment made abroad, a move that threatens to handicap a $28 billion industry that relies on parts made abroad for 80 percent of its supply. Just the mere threat of tariffs has shaken solar developers in recent months, with some stalling projects in anticipation of higher costs. The Solar Energy Industries Association has projected 23,000 job losses this year in a sector that employed…

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2018 Feels Ripe for Big Unexpected Crisis, Eurasia Group Says

This year could see a geopolitical crisis on the scale of the financial crash a decade ago, Eurasia Group warned in its annual outlook. Describing global political challenges as “daunting,” the New York-based political risk consultancy said that “if we had to pick one year for a big unexpected crisis — the geopolitical equivalent of the 2008 financial meltdown — it feels like 2018." The biggest uncertainty surrounds China’s move to fill a vacuum as U.S. influence continues to decline, stoking tensions between the two powers, it said. That’s likely to…

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Teslas Newest Promises Break the Laws of Batteries

Elon Musk knows how to make promises. Even by his own standards, the promises made last week while introducing two new Tesla vehicles—the heavy-duty Semi Truck and the speedy Roadster—are monuments of envelope pushing. To deliver, according to close observers of battery technology, Tesla would have to far exceed what is currently thought possible. Take the Tesla Semi: Musk vowed it would haul an unprecedented 80,000 pounds for 500 miles on a single charge, then recharge 400 miles of range in 30 minutes. That would require, based on Bloomberg estimates, a charging system that's 10 times more…

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Too right it’s Black Friday: our relentless consumption is trashing the planet | George Monbiot

Growth must go on and its destroying the Earth. But theres no way of greening it. So we need a new system, writes Guardian columnist George Monbiot Everyone wants everything how is that going to work? The promise of economic growth is that the poor can live like the rich and the rich can live like the oligarchs. But already we are bursting through the physical limits of the planet that sustains us. Climate breakdown, soil loss, the collapse of habitats and species, the sea of plastic, million plastic bottles…

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Michael Bloomberg: Brexit is stupidest thing any country has done besides Trump

Exclusive: Billionaire media mogul says it is hard to understand why a country doing so well wanted to ruin it Michael Bloomberg, the billionaire media mogul and former mayor of New York, has said Brexit is the single stupidest thing any country has ever done apart from the election of Donald Trump as US president. Bloomberg argued that it is really hard to understand why a country that was doing so well wanted to ruin it with the Brexit vote, in a series of outspoken remarks made Bloomberg said in…

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Iceland PM sold bank assets hours before financial crash, leaks show

Exclusive: Bjarni Benediktsson, current Iceland leader, sold millions of krna of Glitnir assets before state took control in 2008 The current prime minister of Iceland sold almost all his remaining assets in a major Icelandic banks investment fund on the day the government seized control of the countrys collapsing financial sector at the peak of the 2008 crash. According to leaked documents, Bjarni Benediktsson, then an MP on the parliaments economy and tax committee, sold several million krna of assets in the Glitnir banks fund in the final days and…

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Can Jack Ma, Asias richest man, create 1m jobs in the US?

The founder of Alibaba, one of the worlds biggest online retailers, made the promise at a pre-inauguration meeting with Donald Trump Jack Ma was destined to live an ordinary life. He failed the Chinese university entrance exam several times before being accepted by the worst school in Hangzhou, and he was rejected from a dozen jobs even selling chicken at KFC. Ma was ready to settle into a quiet lifeas an English teacher in eastern China, a position with few advancement prospects, when, during a trip to Seattle in 1995…

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Odds and Ends 

The Canvas autonomous cart can ferry goods around chaotic factory floors

Most Econ 101 classes start with an explanation of fixed and marginal cost in the context of factories. The factory is the principal fixed cost expensive and permanent. Canvas wants to smash this assumption of expensive, inflexible, factories by replacing infrastructure with autonomous vehicles. The Boulder-based startup is announcing its first product this morning an autonomous cart designed to shuffle goods around chaotic and unpredictable factory floors. Traditionally, factories install conveyor belts when they want to regularly move goods from one place to another. The problem with this is that,…

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Creditors agree terms to disburse Greece’s 8.5bn bailout funds

EU and IMF thrash out deal following months of disagreements, with funds to be released in July once European parliaments ratify the deal For the best part of a decade, Greece has wanted to become a normal country, and late on Thursday it appeared to begin that process, after creditors agreed to disburse 8.5bn (7.4bn) of bailout funds aimed at putting the debt-stricken nation back on the road to recovery. The money, signed off after months of disagreement between the European Union and International Monetary Fund over how to reduce…

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