Tuesday, October 17

ByKevin Sheekey

Last-minute efforts by Theresa May to unblock stalled Brexit talks came up short with EU officials now looking to December to move negotiations. Brexit Timeline Pushed Back (Bloomberg)

Amid an onslaught of regulation that’s wiped out profit margins, electronic traders are boosting their share of market making. Old Wall Street is Losing The War Under the Surface of ETFs (Bloomberg)

Amid surging demand from cash-strapped Chinese millennials, Alibaba’s finance affiliate is making money off loans consumers use to buy their products. Millennials Are Helping Make Jack Ma’s Finance Firm Into a Debt Giant (Bloomberg)

Fed Chair Watch:  President Trump gushed about Stanford economist John Taylor after interviewing him for Fed Chair, while former Fed board governor Kevin Warsh has seen his star fade within the White House. Taylor Impresses Trump for Fed Chairman, Warsh Slips (Bloomberg)

Showing the power and speed that social media can deploy: The ‘Me Too’ Movement Against Sexual Assault and Harassment is Sweeping Social Media (Recode)

It’s almost impossible for the media to cover Trump’s press conferences – or for Republicans to discern what Trump wants and how he plans to get it – because Trump spreads fake news while calling real news fake. Trump’s Alternative Reality (Axios)

In a speech last night in Philadelphia, Sen. John McCain appealed to the best of Americans, “To abandon the ideals we have advanced around the globe, to refuse the obligations of international leadership for the sake of some half-baked, spurious nationalism cooked up by people who would rather find scapegoats than solve problems is as unpatriotic as an attachment to any other tired dogma of the past that Americans consigned to the ash heap of history.” In Speech, Senator McCain Decries Half-Baked Spurious Nationalism (NPR)

Tweets of the day:

@MikeBloomberg: A look back at the inception of @Cornell_Tech & what it means for the future of tech in NYC.  

@TheStalwart: Here’s a must-read on the growing signs that smartphones are leading to a spike in auto-related deaths: Smartphones are Killing Americans, But Nobody’s Counting 

@FredWilson:  “We now have 30,000 data scientists … 100x more than any other hedge fund … we are not yet two years old.”  – Numerai’s Master Plan 

By submitting my information, I agree to the privacy policy and to learn more about products and services from Bloomberg.