North Korea Worries Send Global Markets Lower [WSJ]
International markets bolstered by a lofty earnings season so far this summer were interrupted by a heightened risk of conflict between Washington and Pyongyang this week. Investors sought safety in precious metals, boosting gold by 0.9% to $1,274.30 a troy ounce.
A nuclear crisis is flaring in North Korea, and Chinese markets don't seem to care [CNBC]
The tough rhetoric puts China in a tough position: The world's second-largest economy has trade ties and shares a border with North Korea. And the U.S. has pressured China to squeeze North Korea more to back down on threats. But on Wednesday, China's stock markets were little changed in morning trading as investors largely ignored it all.
In the Age of Trump, the Dollar No Longer Seems a Sure Thing [NYT]
The dollar remains the dominant instrument for global trade, a role it is unlikely to surrender anytime soon. Yet those who trade in currencies see tentative signs that the dollar may be losing some status as markets grapple with the unorthodox actions of the man leading the nation printing the money.
Donald J. Trump’s presidency has been so full of departures from the norms of international relations that uncertainty has seeped into the calculation of America’s plans. That has subjected the dollar to additional skepticism, enhancing the fundamental factors pulling it down, from worries about the strength of the American economy to improved fortunes in Europe and Asia.
Mnuchin sold companies for $15 million to avoid ethics conflicts [CNN Money]
Mnuchin told officials in January that he would dump the assets within months of being confirmed to comply with federal ethics laws. The financial disclosure forms show that he sold interests in Dune Real Estate Partners, Dune Capital Partners, Dune Entertainment Partners and other companies in May.
It is impossible to know exactly how much Mnuchin made off the sales, because these documents only ask officeholders to disclose figures in ranges.
Shorting the short: Investors bet against Icahn's oil refiner after biofuel trade [Reuters]
The rising short interest in CVR comes as the company’s massive gamble on U.S. biofuels credits shows signs of going wrong.
The rising demand and limited supply for borrowed shares in CVR has triggered a spike in borrowing fees, from normal ranges of around 2 percent to nearly 19 percent this month, said Ihor Dusaniwsky, a managing director at financial analytics firm S3 Partners in New York. Its own tracking figures show short interest increased to about 6.7 percent of the available shares as of last week.
Blackstone Buys Billions in Spanish Real-Estate Assets [WSJ]
Blackstone said Tuesday it will take a 51% stake in a newly created company that will include approximately €30 billion ($35.2 billion) worth of real-estate assets transferred from Banco Popular and will also include the bank’s real-estate management company, called Aliseda.
The Mooch Tops A "50 Least Powerful People in the World" List [24/7 Wall St]
Over the nearly five decades that the position of the White House Director of Communications has existed, no tenure has been shorter than that of Anthony Scaramucci. Fired in late July 2017, less than two weeks after his appointment, the White House’s official reason for releasing Scaramucci was to give its new Chief of Staff, General John Kelly, a clean slate. Scaramucci’s tenure in Trump’s cabinet was tumultuous despite being short. The highlights included apparent protocol breaches with the FBI, conflicting statements about his relationship with then Chief of Staff Reince Priebus, and a profanity laced interview with The New Yorker, in which he spoke ill of several other Trump administration officials, including Priebus and Chief Strategist Steve Bannon. In the midst of his brief stint in the White House, Scaramucci’s wife filed for divorce.
Chinese Restaurant Offers Women Discounts Based On Their Bra Size [HuffPo]
According to the poster, women of all bra sizes would get some kind of discount at the eatery — though the percentage varied significantly. Women who wear A-cup bras would get a 5 percent discount, while G-cup wearers would get a 65 percent discount. (In China, discounts are expressed differently than in the U.S. The lower the number, the better the deal.)