“It didn’t take long for the BitShares community to realize that funding projects today would cause a short-term fall in the value of BitShares. Unable to bear the short-term paper-loss and psychological impact of a lower market cap, people started electing proxies that would vote against all spending proposals.”
– Lessons in decentralised autonomous organisations from Dan Larimer.
GDP growth of 0.5 per cent was less than half the rate set in the previous quarter due to tumbling corporate investment and lower exports Read more
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With 98 per cent of the ballots counted, Donald Trump had secured 60.5 per cent of the vote in the empire state’s Republican primary election. In the Democratic primary, Hillary Clinton had won 57.9 per cent of the vote to Bernie Sanders’ 42.1 per cent with 98 per cent of the ballots counted. Read more
China’s economy grew at 6.7 per cent in the first quarter of 2016, well within the government’s targeted range but at the slowest level since first quarter of 2009 Read more
Dharmesh’s culture code incorporates elements of HubSpeak. For example, it instructs that when someone quits or gets fired, the event will be referred to as “graduation.” In my first month at HubSpot I’ve witnessed several graduations, just in the marketing department. We’ll get an email from Cranium saying, “Team, just letting you know that Derek has graduated from HubSpot, and we’re excited to see how he uses his superpowers in his next big adventure!” Only then do you notice that Derek is gone, that his desk has been cleared out. Somehow Derek’s boss will have arranged his disappearance without anyone knowing about it. People just go up in smoke, like Spinal Tap drummers.
- Fortune, My Year in Startup Hell, Dan Lyons Read more
By Giles Wilkes, normally found at Lex or writing leaders.
So on Wednesday 23rd March, three month implied volatility for the proud pound was 14.5 per cent, which is up a third from 11 per cent the day before.
For an options market maker, such a move in ‘vol’ is a pretty big deal: expected volatility in a market is the major factor driving prices, and being caught the wrong way on such a move would be enough to cause a fairly large loss. But that is not what happened.
The reason for the change in three month vol was rather more mundane. Read more
A Goldman Sachs wife explains: ‘My nanny does the school run, and attends all the parent-teacher stuff that I can’t – she’s a face for our family, and I need her to be beautifully presented.’ And, of course, a really beautiful nanny isn’t just attractive to the father of the family – sapphic affairs can happen as well. Likewise, not all nannies are female, and a hot male nanny can be a very seductive proposition. Overall, it transpires that there are major benefits to a hot nanny.
–”Practically perfect! The hottest nannies in London” Tatler
We’re getting worried. Seven hours (at pixel) had elapsed on Monday since share trading in Metro, the dog-lover’s bank, kicked off in London. And still there’s been no sign of a published prospectus.
We just hope that something has not gone wrong. Because right now, institutional holders who bought shares in the pre-float placing (and got to see the draft documentation) will be dealing while in receipt of inside information if they try to take advantage of the 10 per cent Day One Pop and sell.
So, in an effort to level the investor playing field and un-falsify the market, here are the two key docs that anyone trading this stock needs to read. Read more
German Chancellor Angela Merkel said she had no “Plan B” for solving the refugee crisis and insisted there was nothing that would make her change course during an interview on Sunday.
Ms Merkel said she could understand a recent poll that showed 81 per cent believed her government had lost control of the migrant crisis, but rejected the proposal backed by many in Germany to introduce an upper limit on migration. However, she admitted that the refugee crisis was the worst she had faced in her 10 years as chancellor, dwarfing even the eurozone debt problem. (FT)
The decision by Austria and nine Balkan states to choke off the flow of migrants across their borders has prompted fury in Berlin Read more
The bosses of about half of Britain’s 100 biggest companies are to sign a letter backing David Cameron in his fight to keep the country in the EU in the referendum in June that will shape the future of the UK.
The barrage of business support will come as some relief to Mr Cameron after London mayor Boris Johnson on Sunday declared his support for a British exit. (FT) Read more
My family bought and invested heavily in The Independent because we believe in world-class quality journalism, and this move secures the future of these vitally important editorial values.
Evgeny Lebedev, announcing the closure of The Independent newspaper
Live markets commentary from FT.com
Cardiff and Matt will be live-blogging Janet Yellen’s testimony before Congress. You can find us at the usual place, and we’ll kick things off at 9:58am, just a couple of minutes before the hearing begins.
Her opening remarks are here, and the FT’s Sam Fleming previews the testimony here: Read more
Mr Trump had secured 34.4 per cent, while Mr Sanders led Mrs Clinton by a commanding 59.5 per cent to 38.8 per cent in the New Hampshire primaries Read more
Deutsche Bank led a rout in global bank stocks, with its shares sliding more than 10 per cent at one point, and closing down 9.5 per cent Read more
Seoul and Washington to begin formal talks on an advanced missile defence system Read more
Hard to accept that these imbeciles represent the people in our government.
Tweet, by Martin Shkreli, pharmaceutical entrepreneur