Billionaires Bring Their Muscle to Immigration Debate

By ABC News

Jul 11, 2014 12:14pm

Daily Money Memo

ABC News’ John Kapetaneas reports:

Billionaires tackle immigration this morning. Mega-moguls Warren Buffett, Bill Gates and Sheldon Adelson expressed their concerns in today’s New York Times about the state of immigration overhaul in the United States. The joint op-ed piece explained that while the titans may have differing views on a number of issues, an acceptable solution exists and that leaders should come together to find it. In their own words: “Americans deserve better than this.”

Markets across the globe largely calmed this morning. In Europe, markets are in the green after Thursday’s steep decline following lending troubles in Portugal. U.S. markets are also shaking off Thursday’s 70-point loss, as futures look positive this morning. Asian markets are mixed, with India’s Sensex posting its biggest weekly loss since 2011. Gold is down to $1,337 an ounce this morning. Crude oil is down 4 percent  from last month’s high, while natural gas prices fell to a six-month low Thursday.

Crumbs looks to rise from the ashes. After closing its doors Monday, rumors are emerging of a potential takeover bid for the company by a group of investors. Foremost among this group is Marcus Lemonis, host of CNBC’s “The Profit,” a show based on turning around failing businesses. Any potential recovery effort for the cupcake maker, however, could include expanding the business beyond their “bread and butter” cupcakes, and into a sweets and snack shop.

Could you go three months without Facebook? A study in Denmark is looking for volunteers to abandon their pursuit of “likes,” comments and shares for 99 days, to see how it would affect their mood. With users spending an average of 17 minutes a day on the social media site, the group calculates that during the study a participant would save 28 hours of his or her life that would otherwise be spent perusing people statuses (or what have you). The group could have a substantial pool to pick from; Facebook’s mood manipulation study is said to have affected 700,000 unwitting users.

 

 

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