Thursday , December 14 2017
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FT Alphaville

Crypto startup wants to revive the non-dollar petrocurrency idea

Back when Bart Chilton was CFTC commissioner, he warned about the market-distorting effects of “massive passive” investors like pensions and exchange-traded funds.But because it is 2017 now, he just announced he’s a principal in a crypto venture that — if successful — will passively own a large amount of oil.He’s joined OilCoin, which looks a lot like a US-friendly competitor for Venezuela’s “petro” digital token. Previous attempts to create a workable non-dollar petrocurrency have failed —...

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Busting the myth that bitcoin is actually an efficient payment mechanism

We’ve said it many times before.As an actual payments mechanism, bitcoin sucks.It’s expensive to use and getting ever more so. It can be slow and unpredictable. It’s complicated and very user unfriendly (computer nerds will dispute this, but in doing so show how detached they are from the everyday needs of the average population). It depends on untested third parties for usability even more so than conventional electronic money. It’s prone to hacking. It demands users read Reddit all day...

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Here are the rules for our Fed Macro Live game

FT Alphaville will be liveblogging the Federal Reserve’s statement and press conference later today.This presents a journalistic challenge, because we’re not sure how much truly surprising news there will be. OIS markets are pricing a 100 per cent chance of a rate increase at this meeting. One. Hundred. Per. Cent.So we decided to liven things up a bit with a game. For the London finance types staring at their smartphones at the pub, it’s an after-work drinking game. For the Americans…think of...

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FT Opening Quote – Dixons Carphone profits fall 60%

Customers are used to be being put on hold by retailers. Retailers are less used to being put on hold by customers, writes Matthew Vincent. But that is exactly what has happened to Dixons Carphonethis year: customers decided to put their mobile phone upgrades on hold, refusing to choose expensive new models, and forced the electricals retailer to ring up a profit warning.This morning, Dixons Carphone showed how much half-year profit it managed to hold on to. Or rather how little. Pre-tax...

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Further reading

Elsewhere on Wednesday,— This is (probably) academic now, but funny nonetheless.— So is this.— Sanity reigns.— Except…— “The cryptocurrency is bigger than any country, even the one where it has been most popular.”— The pitfalls of hyper-globalisation.— About that cracked pipe…— More on the WTO power vacuum.— On the road in Fake City.— Giving thanks to SoftBank.— Brexit bluffer terminology.— More True Crime stories.— This is what you get when you build houses on flood plains.— A brain injury...

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The struggles of Second Home

On a sunny Saturday afternoon in October last year, Second Home, the workspace led by former government advisor Rohan Silva, celebrated the launch of its new east London site.The three-year-old startup held a “kids day” in London Fields, a large park around the corner from its new space, which was due to open in “spring 2017” with a nursery alongside offices for startups. There was face-painting, piñata-making and a screening of Willy Wonka and The Chocolate Factory inside a large inflatable...

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Markets Live: Tuesday, 12th December, 2017

11:03 am PM11:03amMorning Soundbuy Hello hello.............. PM11:03amWelcome to Markets Live AAAA Bonjour ! fjp73 Gemalto GTO AMS I see some shorts got torched thereIs it really worth 5B€ the world’s gone nuts. Morning PM PM11:03amOur daily busk around financial stuff 11:04 am PM11:04amAnd yes, story of the morning already noted on the right......

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FT Opening Quote – Unibail-Rodamco’s $25bn Westfield shopping spree

Did you think Local Shopping REIT selling 142 retail properties for £19.3m was dealmaking? No, that’s not property dealmaking. Did you think UK shopping centre owner Hammerson offering £3.2bn for rival Intu was proper dealmaking? No, it’s really not.Unibail-Rodamco, the largest commercial property company in Europe, buying Westfield Corporation for $24.7bn. Now that is property dealmaking, writes Matthew Vincent.This morning, Paris-based Unibail-Rodamco – which owns Les 4 Temps, Forum des...

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