The problem with high frequency trading – Felix Salmon

Last night, on BBC Radio 3, I was featured reading an essay about high frequency trading. I hope it’s fun to listen to, but if you want to read it, here you go.   Original post on reuters.com    Comments on reddit.com   

Calif. Governor takes action as gas prices surge

California Governor Jerry Brown is taking action in an effort to drive down the cost of gasoline as the state’s drivers cope with record-breaking prices at the pump. For the third straight day Monday, the statewide average price for a gallon of regular rose to an all-time …   Original post on nbcnews.com    Comments on reddit.com   

Why Your Phone, Cable – Internet Bills Cost So Much – Daily Ticker

From the blog Daily Ticker: Follow The Daily Ticker on Facebook! The U.S. has fallen behind much of the Western world when it comes to phone, cable and Internet service. Americans actually pay much more for inferior service compared to their global counterparts. In his new book, The Fine Print: How Big Companies Use ‘Plain English’ to Rob You Blind, [...]   Original post on yahoo.com    Comments on reddit.com   

Sweet times for cows as gummy worms replace costly corn feed

KANSAS CITY, Missouri (Reuters) – Mike Yoder’s herd of dairy cattle are living the sweet life. With corn feed scarcer and costlier than ever, Yoder increasingly is looking for cheaper alternatives — and   Original post on reuters.com    Comments on reddit.com   

August Retail Sales Rise 0.9% on Higher Gas Prices, Auto Sales – Business

(WASHINGTON) — U.S. retail sales rose in August from July because consumers paid higher gas prices and bought more cars and trucks. They were more cautious elsewhere, suggesting the weak economy has made many selective about spending.   Original post on time.com    Comments on reddit.com   

Stocks, more than housing, seen as initial QE3 winners

From Yahoo! News: WASHINGTON/NEW YORK (Reuters) – The Federal Reserve’s new economic stimulus plan involves printing vast sums of money to help people buy homes, but over the next year the program could do more to boost the economy by lifting stock prices. The Fed said last week it would buy $40 billion every month in mortgage backed securities until the labor market improves substantially. The program, known on Wall Street as   Original post on yahoo.com    Comments on reddit.com   

We Are Now One Year Away From Global Riots, Complex Systems Theorists Say

What’s the number one reason we riot? The plausible and justifiable motivations of trampled-upon humanfolk are many—poverty, oppression, disenfranchisement, etc—but the big one is more primal than any of the above. It’s hunger, plain and simple. If there’s a single factor that reliably sparks social unrest, it’s food becoming too scarce or too expensive. So argues a group of complex systems theorists in Cambridge, and it makes sense. In a 2011 paper, researchers at the Complex Systems Institute unveiled a model that accurately explained why the waves of unrest that swept the world in 2008 and 2011 crashed when they did. The number one determinant was soaring food prices. Their model identified a precise threshold for global food prices that, if breached, would lead to worldwide unrest.   Original post on vice.com    Comments on reddit.com   

This Man Is the Face of Facebook’s Failed IPO – Technology

More than three months after Facebook’s IPO, chief financial officer David Ebersman is getting the blame for the social network’s failure on the stock market, at least that’s how DealBook’s Andrew Ross Sorkin sees it.   Original post on theatlanticwire.com    Comments on reddit.com   

Raging Bulls: How Wall Street Got Addicted to Light-Speed Trading – Wired Business

One of the most interesting things about the catastrophe at Knight Capital Group—the trading firm that lost $440 million this week—is the speed of the collapse. News reports describe the bulk of the bad trades happening in less than an hour, a computer-driven descent that has the financial community once again asking if their pursuit of profit has lead to software agents that are fast, dumb, and out of control. We’re posting this story in advance of its publication in Wired’s September issue because it examines how Wall St. got to the point where flash failures come with increasing frequency, and how much farther traders seem willing to go in pursuit of ever-greater speed.   Original post on wired.com    Comments on reddit.com   

Trans-Pacific Partnership: Canada Would Fall Into ‘Internet Trap’ Under Asia Trade Deal, Critics Say

Canadians would see Internet freedoms curtailed under the Trans-Pacific Partnership (TPP) currently being negotiated among a dozen Pacific Rim countries, groups critical of the deal say. The Council of Canadians and OpenMedia have launched a campaign to stop Canada from joining the TPP, saying it would “criminalize some everyday uses of the Internet,” including mash-ups (combining different media works to create a new one) and small-scale downloading of music.   Original post on huffingtonpost.ca    Comments on reddit.com   

Mexico scrambles to cope with egg shortage

A summer epidemic of bird flu in the heart of Mexico’s egg industry has doubled the cost of a kilo (2.2 pounds), or about 13 eggs, to more than 40 pesos ($3), a major blow to working- and middle-class consumers in a country that consumes more than 350 eggs per person each year. Egg prices have dominated the headlines here for a week, spurring Mexico City’s mayor to ship tons of cheap eggs to poor neighborhoods and the federal government to announce emergency programs to get fresh chickens to farms hit by bird flu and to restock supermarket shelves with eggs imported from the U.S. and Central America.   Original post on seattlepi.com    Comments on reddit.com   

Drought Not the Only Factor Driving Up Agricultural Prices – SPIEGEL ONLINE

The severe drought in the US has been blamed the rising prices of agricultural commodities. But that is only part of the story: Biofuels, financial speculation and changing dietary habits are also playing a role. The global food supply faces pressure from all sides. By SPIEGEL Staff   Original post on spiegel.de    Comments on reddit.com