Saturday, 15 July 2017

Bloomberg/Megan Hess: So embarrassing

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Good afternoon, and happy Friday. If your weekend plans include any human interaction, think twice before engaging in a 25-second-long handshake.

Onto bigger news. —Megan Hess

Real talk

Jamie Dimon Says Being American Abroad Is "Almost an Embarrassment"

During a conference call with analysts, the CEO of JPMorgan Chase unloaaded on everything that’s holding back U.S. businesses. He said he doesn’t like listening to the “stupid shit” Americans have to deal with, expressing frustration over the nation’s inability to invest in infrastructure and overhaul the tax code.

Here are today's top stories...

The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat. OPEC quintupled its forecast for sales of plug-in electric vehicles, and oil producers from Exxon Mobil to BP also revised up their outlooks in the past year, according to a new study by Bloomberg New Energy Finance.

Your costs may skyrocket under the Senate GOP health bill, which would raise out-of-pocket expenses in every state. For some senators, this is a big red flag in the proposed bill — and one reason Senate Republicans are having a tough time agreeing on a plan to replace the Affordable Care Act. Out-of-pocket premiums for people on mid-level plans would be 74 percent higher on average.

One inheritance you don’t want. You’re at risk of making the same financial mistakes as your parents, a study of 30 million personal loans finds. That's across all levels of parental income, loan balances and other measures, including that of intelligence. The share of 30-year-olds in financial trouble was 5 percent among those whose parents showed no similar sign of financial trouble; it was 23 percent for kids whose parents' records did show financial trouble.

A solar eclipse could wipe out 9,000 megawatts of power supplies, the equivalent of about nine nuclear reactors. The rare event next month threatens to sideline solar farms and rooftop panels in a wide swath of the U.S., wiping out enough power generation to supply about 7 million homes.

There’s rumbling on the right over Donald Trump. More conservatives are wondering how to distance themselves from a dysfunctional president, Albert R. Hunt writes for Bloomberg View. The clash has intensified with the revelation this week that the president's son and son-in-law met with a Russian lawyer during the 2016 presidential campaign in hopes of getting dirt on Hillary Clinton.

what's On Tap

Starbucks Thinks It’s Found a New Way to Get Customers in the Door

The company is expanding a test of nitrogen-infused cold coffee — that baristas pour right from a spigot — after seeing strong demand from customers. Starbucks plans to bring the offering to more than 1,400 U.S. locations by the end of the year, up from less than 1,000 now.

How much should you really be saving for retirement?

Bloomberg News’ personal finance Facebook group, Money Talks, is filled with tips to help you save money, become better informed about where your money goes, or better organize your financial life.
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