Counterparties is a nice little collection of curated and tagged economic news stories, 5-8 every day. It is edited in part by the admirable (and MetaFave) financial journalist Felix Salmon.
Major market indices fell almost 10% this afternoon before recovering half of that value. Some blame the failing Greek economy and the related loss of confidence in the Eurozone. But a lot of attention is being paid to the role of automated trading systems. Accenture's stock, for example, dropped from $41 to one penny in two minutes and then recovered just as quickly. Will this trigger a loss of confidence in automated trading?
Qwest Finds Buyer For QwestDex The buyer is a group led by the Carlyle Group and Welsh Carson Anderson & Stowe. The question is: Why does an investment firm that primarily deals in Defense Contracts want a phone directory company? Tell me I'm just being paranoid.