Austerity policies do more harm than good, IMF study concludes 

[…] in practice, “episodes of fiscal consolidation have been followed, on average, by drops rather than by expansions in output. On average, a consolidation of 1% of GDP increases the long-term unemployment rate by 0.6 percentage points.”

[…]

They concluded that the increase in inequality threatened to be self-defeating. “The increase in inequality engendered by financial openness and austerity might itself undercut growth, the very thing that the neoliberal agenda is intent on boosting. There is now strong evidence that inequality can significantly lower both the level and the durability of growth.”

Source: Austerity policies do more harm than good, IMF study concludes | Business | The Guardian

IMF Proposes Eurozone Debt Relief for Greece Until 2040 – WSJ

The International Monetary Fund is pressing the eurozone to let Greece skip paying interest or principal on bailout loans until 2040, say officials familiar with the talks—a demand that goes far beyond what Greece’s European creditors have said they are willing to do.

Source: IMF Proposes Eurozone Debt Relief for Greece Until 2040 – WSJ

The Greek saga would be funny, if it wouldn’t be so tragic…

How to get long shares of Apple at no cost–but there’s a catch

With this risk-reversal option strategy you end up either buying AAPL at $80 if it trades under $80 in October, or at $100 if it trades over $100 in October, and you pay nothing upfront for it.

It’s a bet that iPhone 7 has a few tricks up its sleeve and the AAPL share price climbs back over $100.

Source: How to get long shares of Apple at no cost–but there’s a catch

Apple invests $1 bln in Chinese ride-hailing service Didi Chuxing

The investment gives Apple, which has hired dozens of automotive experts over the past year, a sizeable stake in Uber Technologies Inc’s chief rival in China. Cook said in an interview that he sees opportunities for Apple and Didi Chuxing to collaborate in the future.

„We are making the investment for a number of strategic reasons, including a chance to learn more about certain segments of the China market,” he said. „Of course, we believe it will deliver a strong return for our invested capital over time as well.”

Source: Apple invests $1 bln in Chinese ride-hailing service Didi Chuxing