Must Read Money Stories For Friday, July 31

by July 31, 2015

News Story ideas

Where is all that money going? From afar, it’s head scratching why Greece hasn’t been able to boost its economy despite hundreds of billions of euros being poured into its economy. The New York Times points out, however, that only 10 percent of the country’s bailout money has gone toward depression relief — the other 90 percent has been used to pay off its debts.

Get ready. SoulCycle, the hip spin class company that’s taken urban America by storm, filed for an initial public offering on Thursday worth $100 million, the Wall Street Journal reports. The company believes its valuation should be similar to sports retailer Lululemon Athletica, which would put them at nearly $900 million. SoulCycle currently has 38 spin studios in the U.S., mainly in New York, Los Angeles and San Francisco.

It’s too late, gov. New Jersey governor Chris Christie vows to stop pot in its tracks if he’s elected president, but FiveThirtyEight writes that ship has sailed. According to the site, stopping the various forms of legalized pot around the U.S. — from medical to full-on legalization — would be far too draconian for Christie, and public opinion would not be on his side.

Where some see obstacles, others see opportunity. That’s the motto some investors are taking to heart, as they buy cheap Chinese stocks as the country’s markets hit record lows. Bloomberg says this trend is a sign of confidence in the Chinese government, despite unprecedented volatility.

The deadline is here. The MLB trade deadline is today, so follow Sports Illustrated’s transaction tracker to stay up to date. Some big trades have already happened: pitcher Johnny Cueto was acquired by the Royals and the Tigers sent pitcher David Price to the Toronto Blue Jays.