Here are some interesting news I’ve stumbled into for the day.
1. HSBC is being charged by the Swiss with aiding tax evasion, on top of money laundering and a bazillion other missteps the bank has had lately. I tweeted about it yesterday because the news release I read made the most hilarious statement about the actual Swiss raid on their Geneva office. But for the more genteel narrative, read this article by Washington times.
2. Like I’ve said a few times, opportunity does not walk in with chiming bells and neon lights. It takes balls. Investors who sat through the Greek fiasco (admittedly it’s not over) have enjoyed bond returns of over 11%. This is compared to the second best performer’s 4% (Dutch) or the benchmark US treasury return of a measly 1.3%. Bold money makes the most money, as long as you’re right.
3. Oil rose to $59 on the back of potential demand increase since Chinese factories seem to be expanding. In my earliest post about the oil slide, I was going to continue the series with an article about how overblown fears of a downturn in China’s economy was feeding the beast, but I went on to other things and forgot. Not to say that all is clear now, but it’s encouraging to see the $40 per barrel bottom has held so far.
4. In the ad-revenue space, Business Insider has an article that highlights how Facebook and Google are eating at the table, and dropping the scraps for Twitter. Given that the information does not include data from foreign operations, and given that US advertising spend at 1.5% of GDP has tended to be fixed over time, the real battles may be won or lost internationally. Still, it’s a pretty neat look.
Nothing much else interested me but that might be because I have tons of work to finish.