Bank of America raises chance of a recession to 1-in-3 in the next 12 months

Recession risk is rising, according to Bank of America. Based on the most recent data, the bank’s global economist now sees a greater than 30% chance of a recession in the next year. “Our official model has the probability of a recession over the next 12 months only pegged at about 20%, but our subjective call based on the slew of data and events leads us to believe it is closer to a 1-in-3 chance,” Bank of America’s head of U.S. economics Michelle Meyer said in a note to clients Friday.
Read more: https://www.cnbc.com/2019/08/12/bank-of-america-raises-chance-of-a-recession-to-1-in-3-in-the-next-12-months.html?source=Snapzu

Imported Cheese Prices Are About to Double Due to Proposed Tariffs

Proposed tariffs currently available for public comment and expected to take effect this fall would dramatically raise prices on European foods imported to the United States, including most foreign cheeses. Many top-selling and prized styles of cheese, including Italian Parmigiano-Reggiano and Dutch Gouda, could become twice as expensive in American stores.
Read more: https://modernfarmer.com/2019/08/imported-cheese-prices-are-about-to-double-due-to-proposed-tariffs/?source=Snapzu

MoviePass reportedly changed account passwords to prevent users from seeing films

The company’s model was bankrupting it.
Read more: https://www.theverge.com/2019/8/9/20799145/moviepass-subscriber-passwords-accounts-limit-change-films-tactics?source=Snapzu

Samuel Delany on Capitalism, Racism, and Science Fiction

Samuel Delany was 20 when his first novel, The Jewels of Aptor, appeared. That was in 1962, and by 1967–69 (when “Time Considered as a Helix of Semi-Precious Stones” and “Aye, and Gomorrah …” nabbed Hugo and Nebula awards), he was a luminary of American science fiction and fantasy.
Read more: https://www.publicbooks.org/samuel-delany-on-capitalism-racism-and-science-fiction/?source=Snapzu

Depositors Are Next as Nordic Banks Buckle Under Negative Rates

(Bloomberg) -- Ever since negative interest rates became a thing, banks have been too afraid to pass them on to retail depositors. That may be about to change.In Scandinavia, where sub-zero rates have been the norm longer than most other places.
Read more: https://finance.yahoo.com/news/depositors-next-nordic-banks-buckle-040000314.html?source=Snapzu

The Amazon Publishing Juggernaut

What does the e-commerce giant want with the notoriously fickle world of publishing? To own your every reading decision.
Read more: https://www.theatlantic.com/technology/archive/2019/08/amazons-plan-take-over-world-publishing/595630/?source=Snapzu

How Bad Will It Get for Netflix?

Everything we knew about the streaming market when one firm dominated will become obsolete.
Read more: https://www.wsj.com/articles/how-bad-will-it-get-for-netflix-11565385271?mod=rsswn?source=Snapzu