A top Bavarian domestic intelligence official has made tabloid headlines by saying there are “hit squads” and “sleeper cells” among the refugees who have recently arrived in Germany — something right-wing populists have been maintaining all along. Yet the true “sleeper cells” have been here for decades, and that explains why, as Germany and other European countries step up …

  Nir Kaissar There’s a strange disconnect today between some investors’ trepidation about US stocks and the soothing signals coming from the equity market. As my Bloomberg colleague Barry Ritholtz recently noted, a whole bunch of high-profile money mavens — Stan Druckenmiller, George Soros and Bill Gross included — are kvetching about the dangers lurking in U.S. shares (among other …

  Max Nisen Disappointing earnings. Substantially lower guidance for 2016. A CFO departure. A suspended dividend. A drug-pricing controversy. Oh, and a libel suit against a chicken farmer. All were features of Concordia International’s unusually calamitous earnings report on Friday. For a day, at least, the Ontario-based specialty pharma firm one-upped its better-known progenitor Valeant, which has had a mixed …