TODAY'S CURATED LINKS
Must Read of the Day - JPMorgan: "If central banks fail to validate over the coming months market expectations of universal rate cuts, equities could be hit not only by a potential selloff in bonds that would mechanically make investors more OW in equities, but also by a potential increase in cash allocations as investors cover their currently extreme cash UW." Source: Zero Hedge
"Senators Mark Warner (D-Va.) and Josh Hawley (R-Mo.) will introduce legislation on Monday to require Facebook, Google, Amazon and other major platforms to disclose the value of their users' data, as first reported Sunday evening on "Axios on HBO." Why it matters: Our personal data is arguably our most valuable asset in the digital age, but internet users don't have any way of knowing how much their data is actually worth." Source: Axios
"Sen. Bernie Sanders announced a plan on Monday to erase the country’s $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020 Democratic presidential primary. The Democratic presidential candidate’s legislation — dubbed 'The College for All Act' — will release all 45 million Americans from their student debt and be paid for with a new tax on Wall Street transactions." Source: CNBC
"The U.S.-based research arm of China’s Huawei Technologies Co Ltd - Futurewei Technologies - has moved to separate its operations from its corporate parent since the U.S government in May put Huawei on a trade blacklist." Source: Reuters
"Spotify boss Daniel Ek might have some explaining to do regarding his claim back in March that his company will have no choice but to raise its prices if Apple’s 30% ‘app tax’ continues. To recap, the controversial app tax is known as a 30% commission which Apple charges third-party app developers on first-year sales made through the App Store – including music streaming subscriptions. According to Apple’s response to Spotify’s complaint, revealed today, Spotify doesn’t actually pay Apple a 30% ‘tax’ on anything. What’s more, says Apple, Spotify hasn’t paid any additional commission on a single subscriber obtained via the App Store for the past three years." Source: Music Business Worldwide
"Over the past 10 years, the share of US adults who say their primary job is a taxi driver or chauffeur—a category that includes driving for ride-hail services like Uber and Lyft—has nearly tripled. Almost 0.3% of all Americans over 18 said they were taxi drivers in 2019... Growth in the profession accelerated in 2014, the year Uber expanded from 66 to 266 cities around the world and transformed from a niche startup into a household name. As of last year, the trend showed no sign of slowing down." Source: Quartz
"Although shopping online may be hassle-free, getting those orders delivered can be tricky. To solve that problem, Amazon and Walmart, the two largest retailers in the U.S., are now offering to send delivery people inside your house to safely deposit your packages indoors and your groceries inside your fridge. To calm fears that delivery people might get up to no good, both companies are promising to let you watch the deliveries happen live on video. There’s one catch: Amazon and Walmart get to hang on to that video too." Source: LA Times
"The United States House Financial Services Committee will be holding a hearing on the social media giant Facebook’s proposed virtual currency Libra on July 17, according to a press release on June 24. The announcement comes by way of committee chairwoman Rep. Maxine Waters, who previously had called on Facebook to cease work on Libra until Congress and regulators had a chance to scrutinize the proposal." Source: Cointelegraph
"The Seattle Seahawks have the NFL’s second-best winning percentage since 2012. One of the secrets to that success may lie within the team’s sports science department. Seattle has separated itself from competitors with its usage of technology and data analytics to help maximize player performance and ultimately win more games. The Seahawks were the first NFL franchise to establish a sports science group seven years ago." Source: GeekWire
"Qualcomm faces another European Union antitrust fine a year after being ordered to pay 997 million-euro ($1.13 billion) penalty for thwarting rival suppliers to Apple... The chip giant may be fined as soon as next month... That would make it the last U.S. technology firm to get a large antitrust penalty from Competition Commissioner Margrethe Vestager." Source: Bloomberg