Chriss W. Street

Latest News

We are More Addicted to Boob Tubes than Ever

Despite decades of the medical community warning that time spent watching TVs, computers and cell phones can cause eye soreness, dizziness, blurry vision, headaches, and muscle strain, Americans are becoming more addicted to all screens--and especially small screens according to Nielsen's latest Cross-Platform Report. Aug 14, 2014 6:35 AM PT

China Appears Ready to Dump Its U.S. Treasury Bonds

Although investors hang on every comment by Federal Reserve Chairwoman Janet Yellen to get insight on the direction of interest rates and what it means for the economy and asset prices, the real power to determine U.S. interest rates may be in the hands of China, according to Lombard Street Research. Facing an overvalued currency that is hurting corporate profits and slowing growth, China appears ready to dump its $1.3 trillion in U.S. Treasury bonds to drive U.S. interest rates up and strengthen the dollar. Aug 12, 2014 6:41 PM PT

Judge Indicates Apple Conspired to Defraud Billions from Tech Workers

The stunning August 8th rejection by federal court Judge Lucy Koh of a $400 million settlement of claims against Apple, Google, Adobe and Intel Corporations for conspiring to hold down employee wages sent shudders through corporations in Silicon Valley and across the nation this weekend. Aug 11, 2014 12:01 PM PT

SpaceX Sued Under Warn Act for Up to 400 Layoffs

Employees at Space Exploration Technologies Corporation (SpaceX) headquarters in Hawthorne, California filed a lawsuit claiming the rocket builder on or about July 21st violated California Labor Law by laying off up to 400 factory workers, or about 11% of the entire company workforce. The employees claim that SpaceX failed to give proper notice under law and are seeking class action status and damages. Aug 9, 2014 1:18 PM PT

Gallup: High Student Debt Results in 60% Worse Financial Condition

The Gallup polling organization found that Americans who graduated from college between 1990 and 2014 and are saddled with $50,000 or more in student debt suffer 60% worse financial well-being and 38% worse physical well-being than their peers who graduated with no debt. Aug 8, 2014 12:24 PM PT

Wikimedia Launches Viral Attack on Europe's 'Right to Be Forgotten'

The Wikimedia Foundation, which operates Wikipedia and other “free commons” websites, is trying to organize a crowdsourced viral movement on the web to overturn Europe Court of Justice’s "right to be forgotten" ruling that gives private individuals the right to request the de-indexing of links from search results associated with their names. Aug 8, 2014 5:18 AM PT

iPhone 6 may be Hot, but iPad is Not

Apple will be holding a media event on Tuesday, September 9th to unveil its iPhone 6, according to reports today in the Wall Street Journal and tech news site Re/code. Aug 6, 2014 11:11 AM PT

Goldman Sachs to Compete with Bloomberg Messaging

Goldman Sachs and a group of top tier investment banks are about to buy Silicon Valley's Perzo to directly compete with Bloomberg LP, their current vendor for institutional trader interface and messaging. Aug 4, 2014 6:02 AM PT

California Cities Win Economic Bottom Dweller Award

Governor and potential presidential candidate Jerry Brown traveled to Mexico this week, while a team of economists for the popular Wallet Hub (WH) social media website employed a group of university economists to evaluate the 150 largest U.S. cities for 18 key factors. Aug 2, 2014 7:21 PM PT

Communist Vietnam May Join the U.S. Team

Sixty prominent members of Vietnam's Communist Party, including a former ambassador to Beijing, signed a letter on July 29 urging political and economic reforms that would divorce Vietnam from reliance on China, according to a July 30th report by the German Press Agency. Aug 1, 2014 2:21 PM PT

Argentina Defaults for 3rd Time in 28 Years

If you are a 28-year-old millennial in Argentina, you would have lived long enough for your nation to default for a third time in 28 years at 12:01 AM on August 1. The nation’s Economy Minister Axel Kicillof acknowledged the default after a flurry of last minute negotiations with creditors from around the world. Argentina's strategy when it comes to discussing paying back debt is to “delay as much as possible while introducing persistent legal ambiguity,” according to Stratfor Global Intelligence service. Jul 31, 2014 8:59 AM PT

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