background preloader


Facebook Twitter

HL Camp and Company

HL Camp & Co, the Secret World of Program Trading. From the world's leading authority and only investment adviser in the world offering Program Trading Research.

Toys R Us files for Chapter 11 bankruptcy protection. Toys R Us has filed for chapter 11 bankruptcy protection, the company announced Monday. The bankruptcy filing helps the Wayne New Jersey-based toy retailer relieve itself of the debt left over from its $6.6 billion acquisition by Kohlberg Kravis Roberts, Bain Capital Partners and real estate investment trust Vornado Realty Trust in a 2005 deal valued at $6.6 billion. The retailer has $4.9 billion in debt, $400 million of which has interest payments due in 2018 and $1.7 billion of which is due in 2019. "Today marks the dawn of a new era at Toys"R"Us where we expect that the financial constraints that have held us back will be addressed in a lasting and effective way," said Dave Brandon, the company's chairman and CEO, said in a release announcing the filing. "We are confident that these are the right steps to ensure that the iconic Toys"R"Us and Babies"R"Us brands live on for many generations," he added.

Rite Aid shares fall after Walgreens buys fewer stores than proposed. After two years of wrangling, Walgreens received regulatory approval Tuesday to buy stores from Rite Aid, but the agreement is for fewer stores than had previously been proposed. Shares of Rite Aid were more than 10 percent lower intraday Tuesday at about $2.45 a share, while Walgreens stock was down about 2 percent. Drugstore chain giant Walgreens said it has clearance from the Federal Trade Commission to buy 1,932 stores from Rite Aid for $4.38 billion.

That's 254 fewer stores than it had intended in June. The move to reduce the number of stores was seen a way to resolve antitrust concerns after repeated failed attempts. Walgreens said it also intends to buy Rite Aid's three distribution centers located in Dayville, Connecticut; Philadelphia, Pennsylvania; and Spartanburg, South Carolina. The transition of the distribution centers will not begin for at least 12 months. The announcement comes three months after Walgreens called off its near two-year deal to buy Rite Aid. Fed economist: 'No evidence QE works' as balance sheet unwind starts. Williamson brought Canada into the comparison. In the time since the financial crisis when the Fed began QE, central banks in the U.S., Japan and Canada kept their benchmark rates near zero.

Canada's balance sheet amounted to 5.1 percent of its GDP, while the Fed's balance sheet is now nearly 24 percent of GDP. While Canada did not engage in QE, there was little difference in economic conditions between the three countries. "[I]f QE were effective in stimulating aggregate economic activity, we should see a positive difference in economic performance in the U.S. relative to Canada since the financial crisis. ... There is little difference from 2007 to the fourth quarter of 2016 in real GDP performance in the two countries," Williamson wrote. "Indeed, relative to the first quarter of 2007, real GDP in Canada in the fourth quarter of 2016 was 2 percent higher than real GDP in the U.S., reflecting higher cumulative growth, in spite of supposedly less accommodative monetary policy.

Jim Mattis: US to send over 3,000 troops to Afghanistan. Navy removes admiral, captain following deadly accidents. The U.S. Navy said Monday it removed two senior officers in the Seventh Fleet following the recent operational incidents that resulted in the deaths of 17 sailors. The announcement comes a day before the Senate is scheduled to hold a hearing on Navy mishaps.

In a statement, the Navy said Rear Adm. Charles Williams and Capt. Jeffrey Bennett were relieved by Vice Adm. "Both reliefs were due to a loss of confidence in their ability to command," the Navy statement said. It follows four incidents since January in the western Pacific involving warships assigned to the Seventh Fleet, including the USS John S. Williams was removed as commander of the Combined Task Force 70 (CTF 70), the Navy's largest battle force, which includes Carrier Strike Group 5 with the Nimitz-class aircraft carrier USS Ronald Reagan, cruisers and destroyers. The Navy said Rear Adm. Monday's developments are just the latest fallout from the Navy accidents. Honda invests $267 million, to add 300 jobs for new Accord model. Honda said on Monday it has invested $267 million and will add 300 new jobs to support increased production of its revamped 2018 Accord sedan model at the Japanese automaker's plant in Marysville, Ohio.

Honda unveiled the newest-generation Accord in July, one of four re-engineered midsize sedans that Asian automakers are betting on to win market share as Detroit rivals shift focus to SUVs, crossovers and pickup trucks. The new Accord, like rival Toyota's all-new Camry, offers more horsepower, safety technology like standard collision-avoiding braking and better fuel economy, although Honda did not release figures. Honda's investment in Ohio consists of $220 million for the Marysville plant, including a new $165 million welding department with 342 welding robots. The automaker is also investing $47 million at its Anna, Ohio, engine plant to provide turbocharged engines for the Accord. The plant came as a surprise for investors at a time of weakening U.S. new vehicle sales.

In the Philippines, infrastructure program could grant businesses 'manna from heaven' Noel Celis | AFP | Getty Images Philippine President Rodrigo Duterte gives a speech at the Malacanang Palace in Manila on June 1, 2017. Duterte has said that he is planning a $180 billion "Build, Build, Build" infrastructure campaign. Already, the controversial leader has agreed to 21 projects worth $16 billion, which include a revamp of Manila's airport and other improvement operations on railways, ports and roads, Reuters reported. And despite the concerns some have expressed over the threat of disruptive technologies to industries, Zobel de Ayala expressed confidence. In fact, attaching to those areas comprises a key strategy of the business, he said.

"In the real estate market, we have a big retail portfolio and a lot of front-end retail shops. However, he said his company is looking to participate in the e-commerce sector, so it has begun to buy assets in that field. Ayala is now buying into the financial technology and payments spaces, according to the CEO. Strategist Jim Paulsen: Market will continue to grind higher on these 2 conditions. Closely followed strategist Jim Paulsen said Monday that the market will continue to grind higher if we don't get inflation and interest rate pressures. "We're kind of in a sweet spot here in this cycle where we're able to grow decently," said the chief investment strategist at Leuthold Group.

"But we're not so far aggravating inflation or interest rate pressures. " "As long as we can continue to do that — I don't think we'll do it forever. But as long as we can continue, I think the market keeps going higher," he added in an interview on CNBC's "Squawk on the Street. " Every recovery in post-war history has ended in some semblance of overheat, Paulsen said. U.S. stocks were higher Monday, and the Dow Jones industrial average and S&P 500 hit new highs. Paulsen said from here on out he believes the international markets will outpace the U.S. Paulsen also recommended that investors look at "overheat sectors. " "I'd focus on the sectors that benefit from some sense of moving towards overheat. Bitcoin rebounds: Digital currency recovers 32 percent.

"The market is realizing that it doesn't really matter what happens in China anymore, the exchanges based there no longer dominate trading activity and more mature liquidity from institutional players in Japan, Korea and Europe is providing a boost to this next bull cycle," said Aurelien Menant, founder and CEO of Hong Kong-based token exchange Gatecoin, told CNBC via email on Monday. "It's also important to remember that the crackdown in China was targeting the activities of the local exchanges for not complying with the Chinese financial regulatory environment and not a crackdown on bitcoin and blockchain technologies.

" Despite the recent fall, bitcoin is still enjoying a remarkable 2017. The price for the cryptocurrency is up 293 percent since the start of the year. Charles Hayter, founder of digital currency comparison website CryptoCompare, said it is still unclear whether the move by Chinese regulators will crystalize into a full, permanent ban on digital currencies. Goldman: Banks win from Fed's upcoming historic move. The "tantrum" occurred after then-Fed Chairman Ben Bernanke warned that the central bank soon would be halting its monthly bond purchases that were seen as a key driver behind the postcrisis bull market run. Indeed, the Fed did halt the program, known as quantitative easing, in October 2014, but the market effects have been minimal. Government bond yields have held lower and the stock market has continued to post solid gains.

If current Chair Janet Yellen has her way, the same thing will happen with the balance sheet rolloff. The plan is for the Fed to allow $10 billion of the monthly proceeds it gets from the portfolio to run off at first, increasing in $10 billion quarterly increments until the total reaches $50 billion. When all is said and done, the balance sheet probably will maintain a level that most economists believe will be between $2 trillion and $3 trillion. Wal-Mart planning new home office in Bentonville, Arkansas. Currently, Wal-Mart operates a slew of more than 20 smaller office buildings throughout the state. But McMillon said that has become "expensive and inefficient to maintain.

" Also, the dispersed offices "literally encouraged us to work in silos," he said. The big-box retailer said it intends to bring most of its home office associates in northwest Arkansas onto the new campus, which will include improved parking, meal services, and fitness opportunities. The improvements are aimed at helping to attract "high-quality talent" by making the campus a more appealing place to work. Also, by having everyone together, McMillon anticipates more collaboration and agile decision making. Wal-Mart said it expects the construction process to take five to seven years to finish, with the work being done in phases.

The retailer said it will be incorporating the costs into its annual budgeting process. "There's still a tremendous amount of planning, design and coordination to be done," McMillon said. Uber's Bozoma Saint John: How to fix Silicon Valley's diversity issue. The tech industry has been plagued for years with criticism over its lack of diversity. On Thursday, Uber's newly appointed chief brand officer Bozoma Saint John joined the dialogue on how to fix this issue at Recode's Code Commerce event in New York.

The No. 1 way to address this ongoing diversity issue, she says, is to simply hire more women. "There just has to be more," Saint John tells Recode's Kara Swisher and Johana Bhuiyan. "The numbers matter in this particular case. Saint John remains one of the few black female C-suite executives in tech. In regards to race, the company's global workforce is predominantly white at 49.8 percent. Saint John, 40, says that no magical "Wizard of Oz" exists to fix this problem in Silicon Valley. "That is step one," Saint John says. Swiss central bank changes mantra on franc overvaluation. Gianluca Colla | Bloomberg | Getty Images The Swiss National Bank (SNB), Switzerland's central bank, in Bern, Switzerland, on Wednesday, April 18, 2012.

"The Swiss franc nevertheless remains highly valued, and the situation on the foreign exchange market is still fragile," the SNB said in a statement after its quarterly policy review. The safe-haven franc has lost some of its allure in recent weeks as Europe's economic recovery has gathered momentum and political risks have dissipated. The euro has gained nearly 5 percent since the start of July to approach 1.15 francs, helping Swiss exporters whose biggest foreign market is the neighbouring euro zone. That is still below the 1.20 level the SNB defended for three years until January 2015. The SNB kept its negative interest rates on hold and said it remained ready to intervene in the currency markets where necessary, the two bulwarks of its expansive policy over the past two and a half years.

Thomas Cook partners with Expedia for hotel sales. Tax reform should not repeat past mistakes, says a top House Democrat. The top Democrat on the House Ways and Means Committee on Wednesday urged Congress not to make the same tax cut mistakes of Ronald Reagan and George W. Bush. "What we want to be on guard here for [is] what happened in 2001 and 2003 when taxes were cut by $2.3 trillion," Massachusetts Rep. Richard Neal said on CNBC's "Squawk Box. " While the Bush tax cuts were advertised as a boon for everybody, Neal argued the top brackets "did very, very well" and middle- and lower-income Americans only saw "minuscule results. " Regarding Reagan's tax reductions, Neal said those 1980s cuts left the U.S. with huge deficits. Supporters of the Reagan tax cuts point to the stronger economic growth that followed after years of stagnation during the previous administration. President Donald Trump and Republican leaders on Capitol Hill believe that Bush- and Reagan-type tax relief would give the current economy a boost.

"We want to accelerate the growth because our economy really demands it," said Brady. Princeton is the No. 1 school in the country and it's also affordable. Mnuchin hopes scrapping state deductions won't make some taxpayers owe more. Treasury Secretary Steven Mnuchin said Tuesday he hopes reductions in federal tax rates can cancel out the loss of state deductions under the Trump administration tax plan. "I'm hopeful that they'll get a slight decrease in federal government [taxes] which will offset what they will lose on the state deductions," Mnuchin said of taxpayers who benefit from state deductions. At the Delivering Alpha conference presented by CNBC and Institutional Investor, Mnuchin reiterated that the White House wants to scrap state and local tax deductions. Eliminating those provisions, in general, would affect high-tax blue states like New York and California.

"I'm hopeful in these states that taxes don't go up," Mnuchin said. "So we'll have a slight rate decrease on the high end to offset the deductions. And I'm hopeful we can size that so that it doesn't hurt New York and California. " On Tuesday, Mnuchin insisted that a tax overhaul would happen this year. Hurricanes Irma, Harvey to have big negative impact on 3rd-quarter GDP.

Early estimates from Wall Street economists suggest the twin hurricanes that slammed the United States will have a sizable negative impact on third-quarter growth numbers. Economists shaved their GDP estimates, with Oxford Economics paring 0.4 percentage points on the low end of the range to Goldman Sachs trimming 0.8 points on the high end. Most see the biggest hit from Harvey, with only modest reductions of 0.1 or 0.2 points from Irma. One clear positive: The U.S. economy was doing well before the hurricanes hit and, in fact, had been estimated to grow near 3 percent, almost a point above trend.

Goldman's 0.8 point reduction brought its third quarter GDP estimate down to a trend-like 2 percent. And the forecast of Macroeconomic Advisors, shaved by 0.7 percentage points, is now at 2.3 percent for the quarter. Most economists see the fourth quarter getting a boost as rebuilding begins, but had not yet estimated the impact. Retail sales, to be reported Friday, is a toss-up. Allbirds opens its first physical shoe store in New York. US business inventories july 2017. Oprah Winfrey, Venus Williams and others are addressing the pay gap. Mnuchin hopes scrapping state deductions won't make some taxpayers owe more. Pixel 2 is more exciting than the iPhone X COMMENTARY.

Texas and Florida face economic blow from hurricanes Harvey and Irma. Kurdistan independence: Iraq may split and its oil could start war. London Tube explosion treated as terror attack; 18 people hurt. Singapore Summit: Nils Andersen praises Maersk's restructuring efforts. EPI says the delay of the fiduciary rule will cost $10.9 billion. The FDA approved the first mobile app to treat substance use disorders. Bodega isn't just bad branding, it's bad business. Harold Hamm fires back at Jim Chanos: 'Who is this guy?' What it means that wages are up and Americans earn more than ever.

Emerging markets: analysts argue about the outlook for growth. Munich makes first warning by reinsurer on Harvey, Irma impact. US shale oil and gas investors are on 'road to ruin,' warns Jim Chanos. Drew University is slashing tuition by 20 percent. Evacuees return home to see Hurricane Irma's destruction. Mnuchin: Yellen being considered for Fed chair, but so are 'a lot of great people' Equifax waives credit lock fees for consumers, amid criticism. The banks just posted a rare winning streak. Average US gas price jumps after Harvey shuts refineries. Here are the chip stock winners from the new iPhones: Cowen. The top 3 benefits of investing in the markets early. Here is how corporations in Atlanta are preparing for Irma.

NASA satellites are tracking hurricanes Katia, Irma and Jose. How much Americans think you should spend on an engagement ring. The case for letting North Korea keep its nukes—commentary. What it’s like to work with Dwayne 'The Rock' Johnson. Defensive investing could leave you empty handed: Asset manager. At least 32 die after massive quake off southern Mexico. CalPERS in talks with BlackRock to outsource buyout business, source says.

Equifax cyberattack: three executives sold shares worth nearly $2 million days after data breach. Martin Shkreli auctions secret Wu-Tang Clan album on eBay — and receives offer in excess of $1 million. Blocked in China, Facebook Is Said to Seek a Shanghai Office. Early movers: AMZN, GPRO, FEYE, RH, RCL, PG, CBS, AZN & more. Richard Branson holes up in wine cellar as Hurricane Irma batters his home. From sugar mills to hog farms, US agriculture braces for Irma. Trian proposes shake-up to P&G's structure and strategy. Gap grows Athleta Girl as Lululemon's kids' business slims down. Hurricane Irma: The orange juice market is going crazy ahead of the storm. Bank of England gets a new member as traders eye an eventual rate hike. Team Rubicon military vets raising millions to help Harvey victims.

What Hurricane Irma means for your weekend travel. Some closed funds ready to open for business again. Toyota Chairman Uchiyamada: Electric vehicles will come but no rapid shift. Roku IPO will test investor appetite for consumer devices. Venezuela is one of the world's most dangerous places to mine bitcoin.

Unruly flier ordered to pay airline nearly $100,000 in restitution. Microsoft Windows 10 Fall Creators Update launches Oct. 17. Kenya election: Supreme Court overturns President Uhuru Kenyatta win. Samsung secures self-driving car permit in California. UN is still trying to tackle the world's problems as if it were 1945, says Saudi Prince Turki. Putin says pressure on North Korea is both 'futile' and a 'dead-end road' North Korea leader Kim Jong Un likes to threaten to destroy South Korea — but that's not slowing down Ikea.

Renault-Nissan, Dongfeng enter JV to build electric vehicles in China. Best Buy says same-store sales results not 'new normal'; stock falls. How this former Hillary Clinton staffer wants to help you feel less stressed at work. Finish Line plunges after trimming outlook, sporting goods stocks fall. Chinese PMI: China reports official manufacturing Purchasing Managers' Index for August. Cramer: These stocks will get a boost as Texas rebuilds after Harvey. A US shutdown could cut into 4th-quarter GDP growth: S&P. Extraordinary photos of survival in Houston flooding. Mondelez shares tumble after Buffett says Kraft Heinz isn't interested in buying it. OpenTable began a revolution. Now It’s a power under siege. Renault-Nissan, Dongfeng enter JV to build electric vehicles in China. Amazon officially owns Whole Foods; here are the products that are getting marked down.

Columbia Sportswear matriarch fled Nazis, built billion-dollar empire. ProSieben looking for investors in TV production, e-commerce units. Venezuela is one of the world's most dangerous places to mine bitcoin. Anheuser-Busch brewery shipping canned water instead of beer for Hurricane Harvey relief. Conservatives draw battle lines in debt-ceiling fight. Student loan balances jump nearly 150 percent in a decade. If you want to help Harvey victims, cash is best. Hurricane Harvey, why Houston emergency response was so underprepared. Former Wal-Mart chairman Rob Walton unloads 62 million dollars shares. Elder financial fraud is $36 billion and growing. Amazon officially owns Whole Foods; here are the products that are getting marked down. 'We'll do the job for Congress' in absence of tax reform: Intuit CEO. Higher aluminium prices lift Rusal Q2 core earnings. HL Camp and The Secret World of Program Trading.