Tough Day at the Office:
Bill Gates and Amazon’s Jeff Bezos each lost over $1 billion in net worth on Friday with the global equity market decline after the Brexit vote. That is nothing compared to the more than $6 billion lost by, Europe richest person, Amancio Ortega. (read)Free Money:
Apple and five big publishers were sued and five years later, there’s probably a credit in your Amazon account. So what happened: Apple and Five major publishers decided to inflate the cost of e-books, so the Department of Justice and a few dozen state attorneys general got involved, and Apple and the publishers eventually settled. In the end, Apple agreed to pay $400 million. Much of that money, starting this week, is being allocated to Amazon customers in the form of credits in their accounts. (More Here)
It’s Good To Be A Kid:
According to a study released last week, Minnesota is the the best place to be a kid. (read)
On The Trail:
Your Political News For The Day:
Spot On Chap:
This is the best analysis of what is going on in politics across the globe from the Rise of Trump, Sanders and Brexit: “A large constituency of working-class voters feel that not only has the economy left them behind, but so has the culture, that the sources of their dignity, the dignity of labor, have been eroded and mocked by developments with globalization, the rise of finance, the attention that is lavished by parties across the political spectrum on economic and financial elites, the technocratic emphasis of the established political parties.” (read)
No question it was a bad month for Trump, but has he weathered the storm? He has lost 2 points to Hillary in the polls and is down 5 points. To put this in perspective, Obama was ahead of Romney by +3 in June ’12 poll. (read)
Can’t We All Just Get Along?:
Not according a recent study by the Pioneer Press. They examined over 500 votes and found over the past two years, House Republicans voted with other Republicans 92 percent of the time, according to a Pioneer Press analysis of voting data in the Legislature. House Democrats voted with other Democrats 86 percent of the time. That means that in the vast majority of the more than 500 votes House members took — on issues from booze to boats to budget — party members cast their votes in the exact same way. (read)
It Was a Good Run:
“Minnesota’s largest health insurer (Blue Cross and Blue Shield) will pull the bulk of its plans off the individual market at the end of the year, forcing an estimated 103,000 residents to find new health care plans and providing the latest reminder of volatility in the market that’s been reshaped by President Barack Obama’s health care law.” (read)
Here are some numbers that make the world easier to understand:
The world’s 400 richest people lost $127 in the global equity markets following the Brexit vote. This included Bill Gates and Amazon’s Jeff Bezos who each lost over $1 billion.
Here are 7 ways to identify bad wine according to Wine Magazine. (read)
The Brexit panic wiped $2.1 Trillion in value from global markets (read)
The Dow Jones Industrial Average. Down 300 points since last week.
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