Disney to buy 21st Century Fox assets in a deal worth more than $52 billion in stock (CNBC)
Disney's Fox acquisition bolsters its plans to become a dominant streaming service platform, making it a bigger threat to Netflix. "The more desirable content they have, the better they will be able to compete in terms of trying to sell a subscription offering at a time there's so much competition for subscription-based services," said eMarketer senior analyst Paul Verna. ALSO: Disney-Fox combination would change power balance in Hollywood
The Fed Isn’t the Tax Cut’s Enemy (WSJ)
Fed officials, in the projections released yesterday and in Chairwoman Janet Yellen’s remarks, suggest they aren’t standing in the way of any boost that the tax cut delivers. Indeed, it may not be entirely unwelcome. The reasons are twofold. One is that inflation is still too low, and that completely changes the equation: It suggests overheating is to be welcomed, not resisted. The other is that officials are open to the possibility that the tax cut will raise the economy’s potential growth rate, which means faster growth wouldn’t necessarily lead to more inflation.
What’s Eating Bill Ackman? (II)
Whether it’s ADP, Herbalife, or Valeant, Ackman lives by the unconventional move — and regardless of the recent losses, his personality is one thing that isn’t likely to change. “It’s hard to make a lot of money if you’re doing what everyone else is doing,” he says, shrugging.
These Guys Want to Lend You Money Against Your Bitcoin (BBG)
One problem is that bitcoin’s price swings violently, which can make it dangerous for lenders to hold. That means the terms can be steep. Someone looking to tap $100,000 in cash would probably need to put up $200,000 of bitcoin as collateral, and pay 12 percent to 20 percent in interest a year, according to David Lechner, the chief financial officer at Salt, which has arranged dozens of loans.
Will Exchange-Traded Funds Make a Difference to Nonprofits? (Nonprofit Quarterly)
The Impact Shares YWCA Women’s Empowerment ETF [exchange-traded fund], launching in the first quarter of 2018, only contains the shares of companies with high grades on women’s issues.… The National Association for the Advancement of Colored People (NAACP) is also launching an ETF that empowers people of color through hiring, remuneration, and promotion policies. Others, like Oxfam and Habitat for Humanity, are considering launching funds of their own.
Tycoons battle over kids’ $37K-a-month child support payments (NYP)
A California investor on Tuesday lost a bid to lower support payments to his ex-wife after she claimed she needed $37,500 a month to pay rent to her new billionaire hubby for her teenage kids. “I have and always will pay for all my children’s needs in excess, I just don’t feel it’s right for me to pay for half of Mr. Salzman’s mansion,” the investor, [Tesla short] Andrew Left, told The Post. Andrea Left last month married Alan Salzman, an early investor in Tesla who pocketed roughly $2.3 billion when the electric carmaker went public in 2010.
America’s wholesome square dancing tradition is a tool of white supremacy (Qz)
By bringing back square dancing, as well as other primarily Anglo-Saxon dances like waltzes and quadrilles, [Henry] Ford believed he would be able to counteract what he saw as the unwholesome influence of jazz on America. People, he imagined, would leave the dance halls and cabarets in droves to swing their partners round and round at liquor-free square dance clubs. If jazz was the cause of America’s moral decay, he reasoned, the road to repair it could be as simple as replacing it with fiddles and square dances.
The Alabama Senate Election Was Decided 100 Million Years Ago (Wired)
In the Cretaceous Period, much of this part of the country was underwater. As the sea creatures in the water died off, they left behind massive chalk formations, which eventually made for rich soil. The fertile soil created by those rock formations drew white plantation owners to this part of the South, and with them, millions of slaves. The soil created agriculture, which created an economy of cotton, despicably built on the backs of slaves; it's just that economy ended hundreds of years ago. "The present day [voting pattern] is a relic of that settlement pattern," Dutch says.
Security detail loses Wilbur Ross in Hamptons takeout joint (PageSix)
“His security people lost him in the Hamptons,” an area regular told Page Six of Ross. “They went into the Golden Pear in Southampton and said, ‘Has anyone seen him?’ ” The source added, “They said they had lost him and asked anyone who spotted him to call them. They gave out cards that said ‘Commerce Department security’ — and told the owner, ‘If you see him, will you call us immediately?’” Rumors even spread that the agents “were combing Southampton on Friday looking for Wilbur Ross.” The same source said, “He was found later that day, but they were in a panic.”