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  • Editor’s Picks / 2 hours ago

    Facebook founder asks for patience

    Bloomberg
    Facebook had just reported second-quarter revenue Wednesday that beat analysts’ estimates, and on a conference call some of the same analysts asked the chief executive about applications that could be making billions on their own: WhatsApp, Instagram and Messenger. Sarah Frier writes Zuckerberg didn’t seem eager to placate his questioners with promises, projections or even updated user numbers and asked for patience"to do this correctly". He said the focus for the three applications was still on expanding their communities. Zuckerberg’s investors may want results, but the social network’s billionaire founder has never been in much of a hurry.
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  • Editor’s Picks / 3 hours ago

    China's property slump could hit its banks: S&P

    CNBC
    The slump that hit China's property market this year could hit the country's banks according to ratings agency Standard & Poor's, in the latest warning to the world's second-largest economy. Jenny Cosgrave writes while the housing market in China has started to see some recovery of late, with data released at the start of the month showing house prices rose at their fastest pace in 18 months, weakness seen earlier in the year could have "negative knock-on effects" for domestic Chinese lenders, S&P warned. In spite of being the world's second-largest economy, China grew at its slowest pace in 24 years in 2014, undershooting the government's target for the first time since 1998.
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  • Calendar event / Yesterday at 23:50 GMT
    Med Industrial Output (on month)
    Med Inventory/Shipment Ratio, M/M%
    -1.6%
    Med Shipments, M/M%
    +0.3%
    Med Inventories, M/M%
    +1.3%
    Med Indus Output Mo-Ahead Forecast
    +0.5%
    Med Indus Output 2-Mo Forecast
    Med Indus Output 3-Mo Forecast
    -1.5%
  • Editor’s Picks / Yesterday at 23:43 GMT

    Transparency, fairness will be key in Beijing-led AIIB

    South China Morning Post
    Not everything has not gone according to plan when it comes to the Beijing-led Asian Infrastructure Investment Bank (AIIB). At a signing ceremony last month, three Asian economies – Malaysia, Thailand and – held off on committing to join. China's assertiveness in the South China Sea has created suspicions about Beijing's goals. This pause by potential AIIB founding means transparency will be key for the new institution. Two questions are paramount on the AIIB. First, how will China shape it into the "lean, clean and green" international financial institution that it has promised? Second, how will China pursue its national interests while also respecting all AIIB shareholders?
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  • Trade view / Yesterday at 22:57 GMT
    Strategic trade

    Baidu's strong Q2 bodes well for Qihoo earnings

    China Watcher / Shanghai
    China
    Search engine market leader Baidu showed good progress in the search business with the release of its Q2 earnings, and investors should be expecting its rival Qihoo to follow suit. Investors were concerned with Baidu's spending plans for the O2O industry, but Qihoo doesn't plan a similar entry. In addition, the upcoming earnings release will give clarity on the ongoing privatisation bid, with management set to buy the firm for $77 per share.
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  • Calendar event / Yesterday at 18:00 GMT

    US U.S. interest rate decision

    forecast
    actual
    High FOMC Vote For Action
    10
    High Fed Funds Rate-Range High
    0.25
    High FOMC Vote Against Action
    0
    High Fed Funds Rate-Range Low
    0
  • Squawk / Yesterday at 14:07 GMT
    Head of Macro Strategy / Saxo Bank
    Denmark
    US pending home sales miss in June, decline 1.8%:

    Analysts had penciled in a modest increase of 0.9%, but instead pending sales of existing homes fell 1.8% m/m in June while May was revised a bit lower to 0.6%. Despite the monthly decline the annual change in pending home sales rose to 11.1% last month from a revised 7.9% in May.

    Pending home sales lead existing home sales by 1 to 2 months.

    Homebuilders (XHB) have outperformed the S&P 500 index so far this year.
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  • Editor’s Picks / Yesterday at 12:30 GMT

    From rents to haircuts, Americans feel price hikes

    CNBC
    Apartment rents are up. So are prices for restaurant meals, haircuts, gym memberships and a cup of coffee. For American consumers who have become used to flat or even falling prices for several years, an unfamiliar sight has emerged in many corners of the economy: Inflation is ticking up. Higher prices reflect a healthier economy and are a key reason the Federal Reserve, will likely raise interest rates from record lows later this year. Inflation has long trailed the Fed's 2% target rate but is on track to return to that level in coming months.
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