Prime Minister Dmitry Medvedev: Russia should take advantage of low oil prices to change the structure of its economy, policy of import substitution means that it is necessary to make products and goods that would compete on the international markets.
Greece closed down for a day, the people are striking because the country is collapsing and the new government lied to them. Initial jobless claims are now trending up. Challenger Gray have now reported that layoffs have increased by 218%. US factory orders collapse, signalling a complete collapse of the economy. Truck orders collapse by 48%.. TPP protests continue around the world
US Defense Department warned F-35 fighter jet plagued by problems that will complicate the most expensive weapons project in history. The warplanes will form the backbone of us military's future fighter fleet. Engineers uncovered numerous technical problems: software bugs, technical glitches, cost overruns, significant limitations for the F-35 in combat. Building the fighter jet before testing was finished caused difficulties, repeated repairs, redesign work, raising costs.
The initial response of economic “conventional wisdom” to the slide in oil prices over the past 20 months—down from $110 per barrel in June 2014 to levels approaching $30—was that, whatever the impact on oil-exporting countries, it would aid the global economy because it would lift consumption and other spending. It has become increasingly clear that, far from providing a boost to the world economy, the precipitous drop in the oil price, together with other major industrial commodities, is symptomatic of deep recessionary trends.
An international team of hackers, who were exposed in November by Russian special police services, managed to infiltrate the world’s biggest payment systems including VISA and MasterCard, a spokesman for the Russian Ministry of Internal Affairs said Thursday.
A federal judge ruled last week that the Hong Kong and Shanghai Banking Corporation (HSBC) will be forced to share a report on its business practices with the public — a decision both the bank and the Department of Justice (DOJ) fought in court to prevent. The report is based on the findings of an ongoing government audit of the bank initiated amid revelations in 2012, that it laundered money for drug cartels and terrorist organizations.
General Motors announced yesterday that it made a record $11 billion in pre-tax profits in 2015. The Detroit-based auto giant, the third largest auto company in the world, made $6.3 billion in profits in the fourth quarter alone, beating Wall Street expectations. GM made the bulk of its income from its North American manufacturing operations, where the corporation’s decades long cost cutting campaign, carried out with the full backing of the United Auto Workers, was accelerated during and after the 2009 restructuring of the company by the Obama administration.
President Eisenhower was issuing warnings about our own military-industrial complex; regardless of the protestations of high-ranking military officers, no cost-overrun, no matter how egregious, went unpaid. The Cold War was a profitable business that served many, that is why it lasted so long. When the Soviet Union collapsed in 1991, the “Soviet threat” was replaced with the “Muslim threat,” “War on Terror” took over from the Cold War. The charge, “conspiracy theory,” is used to prevent investigation. False flag attacks are used by governments in order to pursue secret agendas that they cannot publicly acknowledge.
US Senate Foreign Relations Committee is pushing for fresh sanctions against Iran over what senators described as Tehran’s aggressive non-nuclear activities. Senator Bob Corker, the committee’s Republican chairman working to introduce a new package of Iran-related bills to address everything from the Islamic Republic’s recent ballistic missile tests to its alleged human rights violations.
Presenting a preview of the Pentagon’s $583 billion budget, US Defense Secretary Ashton Carter stressed that the US military is shifting its focus toward war against both Russia and China even as it escalates ongoing interventions in the Middle East.
Just days after a Bernie Sanders campaign ad singled out Goldman Sachs as "one of the Wall Street banks that triggered the financial meltdown," the head of the global investment banking firm said such criticism is "dangerous."
The German government is considering imposing a limit of 5,000 euros ($5,480) on cash payments in order to better track the financing of international terrorism, Frankfurter Allgemeine Zeitung (FAZ) reported on Tuesday.
China announced it had arrested 21 people over a $7.6 billion P2P fraud Ezubao. 900,000 people were defrauded, making the fiasco the biggest ponzi scheme in history by number of victims. Ezubao’s model was simple: they pitched the “business” as a P2P lending company through which investors could fund a variety of projects. 95% of the projects didn’t exist. Ezubao just made them up and used the new money to repay existing investors who were promised annual returns of between 9% and 15%.
A Japanese company is to open the world’s first “robot farm.”,Spread, a vegetable producer, said industrial robots would carry out all but one of the tasks needed to grow the tens of thousands of lettuces it produces each day at its vast indoor farm in Kameoka, Kyoto prefecture.The robots will do everything from re-planting young seedlings to watering, trimming and harvesting crops, will boost production from 21,000 lettuces a day to 50,000 a day,
A Center on Budget and Policy Priorities (CBPP) report last month predicted 500,000 to 1 million people would be cut off of SNAP benefits in 2016 due to the return in many areas of a three-month limit on benefits for unem
Colombian President Juan Manuel Santos will visit Washington this week to update President Barack Obama on peace negotiations just weeks before Santos is supposed to sign an agreement with the Revolutionary Armed Forces of Colombia (FARC), the leftist guerrilla group that has waged a five-decade-long war against the Colombian government. Colombia currently receives $300 million a year in U.S. aid to combat the drug trade and reduce poverty. Santos is expected to ask Obama and Congress to ramp that spending to around $500 million a year.
Major retailers in the United States are shutting down hundreds of stores, shoppers reporting bare shelves in many retail locations all over the country. Internet retailers capture more of the market, brick and mortar retailers cutting their losses. In impoverished urban centers entire malls completely abandoned. Estimated billion square feet of retail space sitting empty.
Tech company Chaotic Moon dual-purpose tattoo is comprised of electro conductive ink embedded with sensors and microchips. With the tech tattoo you can carry all your information on your skin and when you want your credit card information or your ID, you can pull that up automatically through the system,” and it monitors everything that they would do in a physical and it sends that to your doctor, and if there’s an issue they can call you;” Tech tattoos can tie in everything into one package; uptick in new biometric security measures being rolled out for policing, travel and banking.
400 hotels for sale in the tourist capital Antalya, Turkey facing shortfall of 4.5 million Russian tourists this year, tourism industry to miss out on $4.5 billion in lost revenues. European tourists, mainly from Germany, have changed their preferences to Greek resorts. Relations between Ankara and Moscow deteriorated after Turkey downed a Russian Su-24 jet deployed in an anti-terrorist operation in Syria
Eighty Swiss banks have agreed to pay the US fines totaling $1.36 billion in order to avoid court prosecution, according to the US Justice Department..
Swiss residents are to vote on a countrywide referendum about a radical plan to pay every single adult a guaranteed income of around $2500 per month could make the country the first in the world to pay all of its citizens a monthly basic income regardless if they work or not.
The Russian currency has gained more than 10 percent in a week, as oil prices are on the rise amid speculation of possible production cuts from the world's two largest exporters – Russia and Saudi Arabia. However, both sides have denied the claim.
Japan’s central bank has made a shock decision to adopt negative interest rates, in an attempt to protect the flagging economy from market volatility and fears over the global economy. In a 5-4 vote, the bank’s board imposed a 0.1% fee on deposits left with the Bank of Japan (BoJ) – in effect a negative interest rate.
For the first time the four emerging market economies Brazil, Russia, India and China have entered the International Monetary Fund's top 10 biggest members. The IMF’s 2010 quota and governance reforms have finally come into force. China will have the third largest IMF quota and voting share after the United States with 16.74 percent and Japan with 6.23 percent. Russia's Deputy Finance Minister and BRICS Bank Russia director Sergey Storchak; Moscow will work to get the veto right for the five major emerging economies.
Canada says it will move to quickly normalize relations with Iran and lift the sanctions it has imposed against Tehran in order not to miss the business opportunities that have arisen following the recent implementation of Tehran’s landmark nuclear agreement with six world powers.
21,200 oz was transferred from Brinks Registered Inventories, 84,881 transferred from HSBC and 95,269 from Scotia Mocatta. There are only 73,980 oz of Registered Gold remaining in the Comex inventories: This is the lowest level of Registered Gold inventories on the Comex for more than 20 years.
Rep. Tilman Goins (R-Morristown) introduced House Bill 2428 (HB2428) on Jan. 21. Sen. Mae Beavers sponsors the companion bill in the Senate (SB2272). The legislation would reform Tennessee law by requiring a criminal conviction before prosecutors could proceed with asset forfeiture. Under current law, the state can seize assets even if a person is never found guilty of a crime, or even arrested. The bills would also require funds procured through asset forfeiture to be deposited into the state general fun instead of going to law enforcement agencies. This provision curbs the policing for profit motive inherent in the current law.
"Saudi Arabia has engaged in war crimes, and the United States is aiding and abetting them by providing the Saudis with military assistance; United Nations panel concluded in October that the coalition was responsible for “grave violations” of civilians’ human rights, including indiscriminate bombings, targeting civilian sites, and intentionally preventing delivery of humanitarian aid..
U.S. businesses will have more freedom to sell products and services directly to the Cuban government under a new set of regulations the U.S. government unveiled Tuesday,. made it easier for U.S. companies to sell items directly to Cuban entrepreneurs.
Iran and Italy have signed multi-billion dollar contracts covering various sectors including health, transportation, agriculture and energy. Reuters reported that a pipeline contract worth between 3.6-4.6 billion euros (USD 4-5 billion) for Italian oil services group Saipem was among the deals. The company’s shares surged 18.5 percent on Monday. Italian steel firm Danieli said it would sign commercial agreements worth up to 5.7 billion euros (USD 6.1 billion) with Iran.
The biggest bank in Norway is calling for the complete and total elimination of cash. Many local bank branches in Norway already don’t deal in cash, selling this as a way to crack down on criminals and money launderers. want to be able to force everyone in society to use the banks enable them to collect fees on almost every transaction. also happening in Sweden, Denmark; other nations all around the globe.
China will cut crude steel production capacity by 100-150 million tonnes and reduce the size of the coal industry to fight a capacity glut, the government said on Sunday..
The basics of functioning of the Russian economy makes it possible to express moderate optimism about its future, President Vladimir Putin said at an interregional forum on Monday. "The fundamental, basic indicators of functioning of the economy enable us to show moderate optimism," Putin said. According to him, the budget deficit in Russia turned to be "less than it was expected" and the trade balance surplus remains and there are big reserves related to the small public debt.
An “investigative summary” posted this month by the Justice Department’s inspector general criticizes the Drug Enforcement Administration (DEA) for hiring a federal airport security screener to help find seizable cash in passengers’ luggage. Under the arrangement, the DEA designated the screener a “confidential source” and promised him a cut of any money he found while rummaging through people’s bags; anyone carrying a significant amount of cash is a criminal
Ecuador planning to auction off three million of the country’s 8.1 million hectares of pristine Amazonian rainforest to Chinese oil companies as oil pollution forced neighbouring Peru to declare an environmental state of emergency in its northern Amazon rainforest. Ecuador owed China more than $7 billion; more than a tenth of its GDP. China began loaning Ecuador billions of dollars in exchange for oil, helped fund two of the country’s biggest hydroelectric infrastructure projects.
France, Germany, and Spain filed a suit against Monsanto last year because the company tried to patent a non-GM tomato that was resistant to a common fungal disease (EP1812575). Now, the European Patent Office (EPO) is revoking another patent Monsanto has held on non-GM melons.
A Jewish health care charity accused of Medicaid fraud has agreed to repay $47 million to the U.S. and New York state governments. CenterLight Healthcare, formerly called Beth Abraham Family of Health Services, admitted in a settlement to having over 1,000 ineligible members in its Medicaid-sponsored long-term care plan.
"Give a small number of people the power to enrich themselves beyond everyone's wildest dreams, a philosophical rationale to explain all the damage they're causing, and they will not stop until they've run the world economy off a cliff.""Wall Street is not being made a scapegoat for this crisis: they really did this."It has become a machine for transferring income, wealth, ownership, and power to the top..
Russia’s Security Council Secretary Nikolai Patrushev has chaired a meeting on import substitution in the defence industry and aircraft engine building held in St Petersburg. "The meeting focused on prospects for national sovereignty in the manufacturing of current and perspective aircraft along with issues related to an unhindered operation of state-run aviation in the Russian Federation," the Security Council’s press service said.
Hundreds of tractors could be seen by drone-camera, as they gathered at the Greek side of the Greek-Bulgarian border, near the town of Serres, Friday., …
The city’s government continues to charge people for the poison water, threatening to foreclose their home or take their children if they refuse to pay. Michigan law states parents are neglectful if they do not have running water in their home, and if they chose not to pay for water they can’t drink anyway, then they could be guilty of child endangerment. Flint residents have recently filed two class action lawsuits calling for all water bills since April of 2014 to be considered null and void because of the fact that the water was poisonous.“Essentially, residents have been getting billed for water they cannot use. Estimates it could take 15 years, $60 million to fix the problem, Despite the fact that the issue is obviously the government’s responsibility, they have made it illegal for people to sell their homes because they are known to carry contaminated water. Residents left to purchase bottled water on their own, in addition to paying their water bill.
France is going to assist in lifting sanctions imposed by the West on Russia by summer this year, Emmanuel Macron, France’s Minister of Economy, Industry and Digital Affairs, has announced. French economy minister is now in Moscow heading a French delegation attending a session of the French-Russian council on economy, finance, commerce and trade matters, which will take place on Monday, for the first time since 2013. The French embassy in Russia has said that the realization of a number of joint projects in energy, space, transport and other spheres is still to be discussed.
Russian President Vladimir Putin has urged the West to stop increasing the worthless money supply, saying that increasing the volume of money in circulation is “very dangerous. “Increasing the money supply infinitely and uncontrollably is very dangerous. This may lead to the effects that are not visible at first, but they will surely come if we act carelessly; regulatory authorities should promote conditions for normal business activities, instead of collecting fines..
According to the head of Russia's Central Bank, oil exports as a share of Russia’s total goods exports have went down to 48 percent in December last year with the country's economy slowly shedding it's dependence on oil prices. The dependence of the Russian economy and the national currency's exchange rate on oil prices is gradually decreasing, however, there is a need to further diversify the country’s economy to continue this trend, the Russian Central Bank head said Friday.
MSCI All-Country World Index has fallen a total of more than 20 percent from the peak of the market. So that means that roughly one-fifth of all the stock market wealth in the entire world has already been wiped out. This new round of chaos began last night in Asia. Japanese stocks were down more than 600 points and Hong Kong was down more than 700 points. The nightmare continued to roll on when Europe opened, and European stocks ended up down about 3.2 percent when the markets over there finally closed. In the U.S., the Dow had fallen 566 points, but a curious rebound resulted in a loss of only 249 points for the day.
Amid a crippling six-month-long state budget impasse and plans to lay off several thousand Chicago teachers, Illinois Republican leaders Christine Radogno and Jim Durkin announced plans Wednesday to introduce legislation that would permit Chicago and its school district to file for bankruptcy. The bills are backed by Republican governor of Illinois and hedge fund billionaire Bruce Rauner.
Asylum seekers in Bavaria must first transfer their assets to the regional government before they can become eligible for state support, Bavarian Interior Minister Joachim Herrmann confirmed in an interview published Thursday. According to the minister, the Bavarian authorities are entitled to seize any cash and property belonging to migrants in excess of 750 euros (some $820)..
New law coming this April, one that will see any non-European Union citizens in the U.K. earning less than £35,000 ($49,960) a year deported after five years in the country. The law comes as part of a new package intended to slash migration levels in the U.K., and will also see the country become a lot harder to get into professionally
The collapse of the Russian ruble against the US dollar continued for a second day on Thursday. The currency fell below 85 rubles, setting a new all-time low against the greenback. Wednesday's plunge took the ruble below the Black Tuesday currency crash of 16 December 2014, when it fell to 80 rubles against the dollar and 100 against the euro.
In addition to preventing Libya from breaking away from French monetary domination, Sarkozy wanted to “gain a greater share of Libya oil production,” increase French influence in North Africa and dash Gaddafi’s “long term plans to supplant France as the dominant power in Francophone Africa.”
As Monsanto continues to lose favor worldwide, resulting in plummeting profits, the organic food industry continues to expand. Growing awareness of their health benefits, combined with increased availability, has given a boost to the sales of organic foods, which are grown without the use of chemical pesticides or fertilizers.
Our reality is carefully constructed by powerful corporate, political and special interest sources in order to covertly sway public opinion. Blatant lies are often televised regarding terrorism, food, war, health, etc. They are fashioned to sway public opinion and condition viewers to accept what have become destructive societal norms; manipulating and controlling public opinion with distorted media messages has become so common that there is a whole industry formed around this.
“The gap between rich and poor is reaching new extremes,” “The richest 1 percent have now accumulated more wealth than the rest of the world put together; wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years.”Wealth trickles up, not down, richest individuals use a system of global tax-avoidance schemes to avoid paying taxes to their governments; elaborate system of tax havens and wealth managers ensure that it stays there.
Police fired tear gas and clashed with protesters demanding jobs in the impoverished Tunisian city of Kasserine on Wednesday, as smaller demonstrations broke out in the capital and at least eight other towns. Large crowds burned tyres and chanted "Work, freedom, dignity" during a second day of demonstrations that erupted in the central city after an unemployed man killed himself, apparently after he was rejected for a job.
DISRUPTIVE labour market changes, including the rise of robots and artificial intelligence, will result in a net loss of 5.1 million jobs over the next five years in 15 leading countries, according to an analysis published in Davos. The projection by the World Economic Forum (WEF), which is holding its annual meeting in the Swiss ski resort this week, assumes a total loss of 7.1 million jobs, offset by a gain of 2 million new positions..
US markets dropped even more early Wednesday after oil plunged to its 2003 low of $27 a barrel. Massive sell-offs continued through all the stocks led by the energy sector.
The country's GDP sits at 6.9 per cent, after years spent in the double digits, Its slowdown has caused shockwaves across European and Asian markets.The IMF has now cut its growth forecasts for the third time in a year. China's production has been major driver of the international economy; but it is trying to shift its economy's emphasis from exports to services.
The penalties will range from a minimum of $700 for an individual to as much as $10,000 for a family of four, depending on income. The average penalty in 2016 will be $969. That’s a 47 percent increase from last year.,The penalties are either 2.5 percent of household income (up to a cap) or $695 a person and $347.50 per child, whichever is higher.
Human Rights Watch has called on companies to end their businesses in illegal Israeli settlements and not to facilitate Israel’s violations of international humanitarian law..The New York-based group said in a report released on Tuesday that businesses should stop operating in, financing, servicing, or trading with settlement-related “activities that contribute to and benefit from an inherently unlawful and abusive system that violates the rights of Palestinians.
Russia will start supplying Su-35 fighter jets to China in the 4th quarter of 2016, a military-diplomatic source told TASS on Friday. Russia and China signed a contract on delivering 24 Su-35 fighter jets worth at least $2 billion to Beijing
Amid growing global economic gloom, including a slowdown in China and falling oil and commodity prices, major companies throughout Europe are announcing mass layoffs and job cuts.
MOSCOW (AP) — The Russian ruble, battered by weak oil prices, on Monday fell to an all-time low against the euro and dropped to its lowest level in more than a year against the dollar. Oil, the mainstay of the Russian economy, recently plummeted to under $30 a barrel, a 13-year low. The ruble is also under pressure from economic sanctions that the West imposed on Russia.
According to the official data from Beijing, the world's second-largest economy grew 6.9 percent in 2015 against 7.3 percent in 2014. This is the worst result for China since 1990.
institutions of global governance, especially the ones that have actual power, have historically been controlled by the United States – this bank marks a departure from that trend.
Heads of International affairs of Iranian banks have gathered in Iran’s Central Bank building. They discussed actions they have to take after the implementation of Iran’s nuclear deal to be able to show a proper response to an expected surge of foreign banks that are going to start cooperation with the Islamic Republic.
Newly appointed economy czar, Luis Salas, outlined an economic decree from exiting President Nicolas Maduro. The decree would provide Maduro with powers to dictate economic measures, which he says will help the country from “speculation” and “fictitious” pricing. Some of them include increasing gas prices and perhaps modifying its fixed currency rates soon.
Chinese President Xi Jinping’s visit to key countries of the Middle East - Saudi Arabia, Egypt and Iran - due in late January. During the visit to the Kingdom of Saudi Arabia, Egypt and Iran, the Chinese leader will be accompanied by the economic delegation that will include around 100 heads of state corporations linked to natural resources..Iran wants to join the Shanghai Cooperation Organization (SCO) to become part of this Eurasian organization where China and Russia play a key role.
News that Iran plans to dramatically ramp up oil production sent stocks plunging across the Middle East. Stocks in Kuwait were down 3.1 percent, stocks in Saudi Arabia plummeted 5.4 percent,stocks in Qatar; 7 percent decline. Saudi Arabian stocks are down more than 50 percent from their 2014 highs. Iran announced plans “to add 1 million barrels to its daily crude production.”
Ukraine has threatened to punish Israeli citizens and commercial entities which are engaged in business activities in Crimea that haven't been authorized by Kiev.. Ukrainian embassy in Tel Aviv said they received information about Israeli citizens visiting Crimea 'in violation of Ukrainian laws' and engaging in commercial activity there 'without authorization from the Ukrainian government.,'
French President Francois Hollande has announced what he called "a state of economic and social emergency" involving a €2 billion plan to revive hiring and catch up with the world’s economy, Hollande announced plans for training half a million jobless workers, greater use of apprenticeships, and €2,000 aid for small businesses that hire young workers...
Obama’s spending agreement with Congress will suspend the nation’s debt limit and allow the Treasury to borrow another $1.5 trillion or so by the end of his presidency in 2017. Added to the current total national debt of more than $18.15 trillion, the red ink will likely be crowding the $20 trillion mark right around the time Mr. Obama leaves the White House.
“Iran could haul in more than five times as much cash from oil sales by year-end as the lifting of economic sanctions frees the OPEC member to boost crude exports and attract foreign investment needed to rebuild its energy industry,” Bloomberg reports, adding that “the lifting of sanctions means Iran can immediately boost oil revenue to about $2.35 billion a month, based on the country’s estimated current output of 2.7 million barrels a day and oil at $29 a barrel..”
America’s three biggest banks — JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) — earned more than $6 billion just from ATM and overdraft fees last year.., Consumers now pay over $4, on average, to withdraw their own money from an out-of-network ATM.
Amid a crisis that has poisoned the water supply of an entire city, authorities in Flint, Michigan are under renewed fire on Friday for sending out shut-off notices to residents who are behind on paying their water bills. The move was immediately met with outrage among city and state residents, who say the people of Flint should not have to pay for the water that may have exposed them and their loved ones to irreversible lead poisoning.
Stock markets in the US and around the world ended the week with massive selloffs, rocked by fears that the slowdown in China and plunging oil and commodity prices will trigger a new financial crisis on the order of the 2007-2008 disaster..Another sharp fall on Chinese markets, followed by a 6 percent fall in oil prices to $29 a barrel, set off a wave of panic selling..
“Japan’s currency advanced versus the dollar for the third time in four weeks, while the euro climbed versus most of its peers,” according to a report by Bloomberg. “Hedge funds lifted bets on yen strength to the highest in more than three years, and pared wagers against the European common currency.”
Nevada Public Utilities Commission (PUC) voted unanimously to increase a monthly fee on solar customers by 40% while reducing the amount they get paid for excess power sold to the grid, made the rate changes retroactive, sabotaging consumer investments in solar energy; will effectively kill the solar industry in Nevada, protect the profits of Nevada’s public utility company, NV Energy..
Saudi Arabia and other Persian Gulf countries are scooping up farmland in drought-afflicted regions of the U.S. Southwest,,California and Arizona. Saudi Arabia grows alfalfa hay in both states for shipment back to its domestic dairy herds. In another real-life example of the world’s interconnected economy, the Saudis increasingly look to produce animal feed overseas in order to save water in their own territory, most of which is desert.
Friday’s plunge in oil prices below $30 per barrel took down Russian stock markets and currency. Equities were down over six percent while the ruble hit new yearly lows against the major currencies.
Iceland just sentenced their 26th banker to prison for his part in the 2008 economic collapse. The charges ranged from breach of fiduciary duties to market manipulation to embezzlement.
No one wants to be audited, so knowing how long your tax return can be attacked is important. The statute of limitations on taxes is a fundamental rule allowing taxpayers to eventually cut off their exposure, an expansion of the IRS's power to audit for extra years.
Iran said on Saturday that it plans to use billions of dollars of its blocked assets that are expected to be released after the removal of sanctions against the country for imports of essential goods, will have an immediate access to $30 billion of blocked Iranian assets that have been frozen in different overseas accounts as a result of the sanctions.
The government has to substantially reduce costs, scrap a series of projects and perform staff downsizing; Russian Prime Minister Dmitry Medvedev at the meeting on 2016 federal budget. "We will look at expenses that should be slashed and decide what projects we will have to abandon or postpone. I tasked all ministries and departments to make such proposals — on reduction of costs and downsizing," urges to mobilize budget revenues, particularly in privatization. Dramatic movement of oil prices creates serious risks for budget performance
International sanctions against Iran are due to be lifted Saturday, according to Tehran’s Foreign Minister Mohammad Javad Zarif. The move will take effect when the International Atomic Energy Agency has issued its final report concerning Iran’s nuclear program.
Scale of the malfunctions exceeded anything Blue Cross officials had expected, customers worry the insurance giant’s miscues could leave them uninsured for weeks until the situation is resolved. The difficulties have become so widespread that this week the N.C. Department of Justice sent Blue Cross a letter asking it to explain what went wrong, how many customers were affected and how it plans to rectify the billing errors that were made in recent weeks. Of the estimated 25,000 customers who didn’t get the health insurance policy they had selected, about 17,000 remained to be processed Thursday, Blue Cross officials said Thursday. The company’s goal is to activate coverage retroactively to Jan. 1 for customers who made their first payment to Blue Cross.
The Brent and WTI crude benchmarks slid below $30 per barrel on Friday, as investors worry about Iran’s earlier than expected return to the oil market. International sanctions on Tehran may be lifted Monday, allowing the fifth-biggest member of OPEC to boost oil exports.
Michigan residents who say they've suffered injury from drinking lead-contaminated water have filed a class-action lawsuit against Gov. Rick Snyder, the state, and the city of Flint. State was forced to admit it was responsible for poisoning the water, the State knowingly made false statements concerning the drinkability of the water. Investigation by the U.S. Department of Justice and the Environmental Protection Agency as well as a separate class action lawsuit against the city, state and county,
Russia, China, India and other emerging powers are pushing for a multipolar world; meanwhile the United States, a former hegemon, is unable to stop them as it is losing its political power and is “de-facto bankrupt,” Russia, China and other emerging economies are beginning to reduce their dependency on the US dollar. Russia plans to trade oil using rubles by undermining the current US oil price monopoly.
The United States has spent nearly half a billion dollars and five years developing Afghanistan’s oil, gas and minerals industries — and has little to show for it.,The project’s failings are the result of poorly planned programs, inadequate infrastructure and a challenging partnership with the Afghan government; Special Inspector General for Afghanistan Reconstruction.
The US Army has awarded 17 companies, including major corporations, $900 million in contracts for logistics and service support for biological and chemical war projects, the Department of Defense announced.
Oil prices have experienced a rebound in global markets, after going through a drastic fall, which saw crude prices fall below USD 30 a barrel for the first time in more than 12 years, global supply glut that has been putting a tremendous downward pressure on the market for the past 18 months.,
Russian President Vladimir Putin said in an interview with German newspaper Bild that Russia’s economy is, at best, fifth in the world in terms of volume. “We do not claim the role of a superpower,” he said. “This role is very costly and it is meaningless.”
United Methodist Church pension fund blocked five Israeli banks from its investment portfolio to weed out companies that profit from abuse of human rights. Also sold holdings in Israeli real estate and construction company Shikun & Binui, barred the company from the pension group's investment portfolio; identified Israel among countries or regions with "a pattern of human rights abuses." Other countries on the list include Saudi Arabia, Central African Republic and North Korea. The Methodist church largest mainline Protestant group in the United States.
The Royal Bank of Scotland has recommended its clients prepare for a “cataclysmic year,” as major stock markets could drop by a fifth and Brent oil could hit $16 a barrel. "Sell everything except high quality bonds. This is about return of capital, not return on capital. In a crowded hall, exit doors are small," said the bank’s credit team in a note sent to clients, According to RBS analysts, the markets are showing the same stress alerts as seen before the 2008 crisis. Andrew Roberts, the bank’s credit chief: “China has set off a major correction and it is going to snowball.”
. Obama evaded the real issues that affect tens of millions of working people in America. He painted a ludicrous picture of economic recovery and social progress; “how we recovered from the worst economic crisis in generations.” The so-called “recovery” has been a bonanza for corporate profits, stock prices, and the wealth and income of the super-rich. For the working people who are the vast majority of the population, it has been a disaster.
Monsanto announcing the company will cut about 3600 jobs. Plans to construct a $90 million GM corn processing plant in Independence, Iowa have reportedly been scrapped due to a ‘struggling farm economy..
Swiss canton of Zug is asking its citizens to delay paying their taxes for as long as possible. Why? Negative interest rates. The cantonal government doesn’t want to take in a pile of cash, only to end up paying the bank interest on all the tax revenue. So if a bank is paying interest to hold funds with the central bank, eventually they’re going to pass that cost on to the governent. According to the Financial Times, the cantonal government of Zug estimates that they will save $2.5 million in negative interest rate charges by delaying tax receipts.
Australia’s stock exchange last week experienced its worst start to a year in recent history, and the share price falls continued for the seventh consecutive day yesterday, with mining and banking companies most seriously affected.As of last night, the main Australian share indexes had dropped more than 7 percent in 2016, wiping off more than $100 billion in value from the S&P/ASX 200 stocks alone.
According to Sam Benson — who goes by the stage name of “Blac Youngsta” — he had just exited a Wells Fargo branch in the upscale community of Buckhead after withdrawing $200,000 in order to buy a new car. ‘I’m a millionaire. How can I not have $200,000 on me?’” A spokesperson for the Atlanta police department explained that they were responding to a call “at the request of the bank manager” before finding “that no crime had been committed.”
National Assembly of Venezuela, deputies passed a law which lays the foundation for a truly democratic food system. It promotes agroecological production methods – that’s a form of farming that works with nature and avoids chemicals, pesticides and monocultures. It aims to make the county independent of international food markets; outlaws the privatization of seeds and promotes instead small and medium scale farming and biodiversity.
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