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The Capitalist Newsletter – July 13, 2017

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APPLE AGREES TO BUILD FIRST DATA CENTER IN CHINA TO COMPLY WITH NEW CYBERSECURITY LAW; ONE MAJOR CATCH

With China being one of the largest markets in the world, especially for smartphones, Apple is willing to do anything necessary to maintain its foothold there. And that’s on full display as Apple has agreed to open its first data center in China. And while that would generally be seen as a good thing, there’s one big reason Apple fans could be a bit worried…

Read The Capitalist’s Take Here

Read More at Bloomberg Here

Read More at Financial Times Here


GOOGLE WINS TAX CASE IN FRANCE; SEES $1.27 BILLION FINE FOR BACK TAXES TOSSED OUT

A French court ruled on Wednesday that Google was not liable to pay 1.1 billion euros ($1.3 billion) in back taxes demanded by the French authorities.

The Paris administrative court ruled that Google Ireland Limited was not subject to corporate and value-added taxes for the period 2005-2010, striking down the tax administration’s demands for back payments.,

The ruling in favor of Google, now part of Alphabet Inc followed a court adviser’s recommendation that Google did not have a “permanent establishment” or sufficient taxable presence to justify the bill.

Read More at Reuters Here

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Read More at NY Times Here

Read More at The Guardian Here


YELLEN TESTIMONY OFFERS NO SURPRISES; RATE AND PORTFOLIO PLANS ON TRACK, CAUTION ON INFLATION

The U.S. economy is healthy enough for the Fed to raise rates and begin winding down its massive bond portfolio, though low inflation and a low neutral rate may leave the central bank with diminished leeway, Fed Chair Janet Yellen said on Wednesday.

In what may be one of her last appearances before Congress, Yellen depicted an economy that, while growing slowly, continued to add jobs, benefited from steady household consumption and a recent jump in business investment, and was now being supported by stronger economic conditions abroad.

Read More at Reuters Here

Read More at CNBC Here

Read More at NY Times Here


Closing Bell

– Markets Soar UP After Yellen Testimony

Markets See Mixed Close as Energy Dips

Big Insider Trades

– Regal Beloit Corp. (RBC) Director Henry Knueppel Sells $1.7m

– Liberty Global plc (LBTYA) Director John Malone Buys $6m

Winners & Losers

– Nam Tai Property, Inc. (NTP) Pops UP (21.95%) After Chairman of the Company Sells Significant Shares to a Strategic Partner at a Significant Premium

– Alder Biopharmaceuticals, Inc. (ALDR) Sinks DOWN (17.01%) After Company Announces a Dilutive Secondary Share Offering

Most Talked About

Ceragon Networks Ltd. (CRNT) Considered a Unanimous Strong Buy Company Reports Massive Orders During Q2

The TIP Sheets

– Wednesday July 12th

– Ocular Therapeutix, Inc. (OCUL) Tumbles DOWN (12.24%) After Failing to Secure Approval of its Eye Drug Dextenza for Second Time Due to Quality Control Testing. Expect Shares to Continue DOWN

Unusual Volume

NRG Energy, Inc. (NRG) Soars UP (29.39%) on 47m Shares Traded After Company Reveals Plan to Transform its Business. NRG has Agreed to Sell Most of its Renewable Energy Assets, Which Will Remove $13 Billion in Debt. Expect Shares to Continue UP

 

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