Will it be another bloodbath at the stock market today with red as the dominant color across the region? You bet. As the Greek tragedy hammered global markets overnight, while the S&P wiped out all its gains for the year, the outlook looks grim.
China’s stock market officially entered the bear market territory Monday, after rallying for more than a year. Some pundits are saying this could be good for the long-term health of the market since it will weed out investors who are in the market just to make a quick profit, and are not mindful of the risks of investing in equities. Will the government step in to arrest its fall? Read on.
Asian shares brace for another selloff. The Nikkei is headed for another listless day as the futures in both Chicago and Osaka were seen trading close to its previous day’s close of 20,109. Australian futures also showed the market may trade lower today. CNBC
China gets tough on environmental crimes. The number of criminal cases handed over to the police reached 2,080 in 2014, twice the total during the previous decade, while more than 8,400 people were arrested. The government has declared a war on pollution due to strong pressure from the public. South China Morning Post (paywall)
Private equity set to boom. The global private equity market will grow to almost $7 trillion by 2020, says PwC. The PE market had $3.6 trillion in 2013. PwC says the client base is broadening, and alternative assets in general will have significant growth. Bloomberg
KKR to pay $30 million in suit. Private equity firm KKR has agreed to pay almost $30 million to settle charges by the SEC that it shifted more than $17 million in “broken-deal” expenses to its flagship funds. Wall Street Journal
NBC dumps The Donald. NBC Universal is cutting all business ties with Donald Trump due to “recent derogatory statements” Trump made about Mexican immigrants. The Miss USA and Miss Universe Pageants will no longer air on NBC. “The Apprentice” will continue to air since Trump has resigned already to focus on campaigning. Politico
SCOTUS upholds lethal injection drug use. The U.S. Supreme Court upheld the use of a lethal injection drug that has been known to cause distress to inmates before they die. Talking Points Memo
Chevy emojis take off. A picture is worth a thousand words, and apparently emojis are worth even more. In a recent press release Chevrolet decided to forget words and just write in emoji. Chevrolet
We are the champions! Sing it louder, because a Queen branded beer is hitting the market. “Queen Bohemian Lager,” brewed in the Czech Republic and branded with the band’s crest, is being released to celebrate the 4oth anniversary of “Bohemian Rhapsody.” Esquire
Photo credit: Aaron Goodman via Flickr