Judge Anne Hirsch awarded a summary judgment in a suit brought against the Grocery Manufacturer’s Association by Attorney General Bob Ferguson, finding the GMA guilty of a money laundering scheme that shielded members’ identities as they helped to defeat Washington’s 2013 GMO labeling ballot initiative, I-522, with their donations.
Nationwide protests against labor reforms has begun in France. The protests are coupled with a rail strike over a wage dispute, which has disrupted transportation.. The government has faced massive blowback to measures that would give employers more flexibility in hiring and firing employees. The government and business leaders argue the reforms will encourage companies to take on more workers on permanent contracts rather than temporary ones. Unions regard the law a threat to job security.
According to a report in the Guardian, in addition to a slew of previously reported problems — such as vulnerability to lightning strikes and zero tested capability to resist cyber attacks — the plane's radar system just occasionally stops working, forcing pilots to turn it off and reboot it before it will work again.
21st century Americans distracted by the hyper-expensive “war on terror.” Trillions of dollars have been added to taxpayers’ burden. In Europe entire countries are being foreclosed the financial system has become an exploiter of the people and a deadweight loss on economies. Possible solutions: break the large banks up into smaller, local entities such as existed prior to the concentration deregulation fostered; nationalize them and operate them in the interest of the general welfare of the population.
A couple of years ago, the Denver Police Department (DPD) was under fire for excessive force complaints. They wanted to change their image, so they began a massive public relations campaign, ramping up spending from $599 in 2011 to $136,783 in 2013.Investigation by Denver7 ABC found that the DPD has been using funds derived from civil asset forfeiture to pay for much of this propaganda campaign, may constitute a violation of policy, as those funds are only supposed to be used for equipment and training.
Chinese exports have seen their sharpest drop in almost seven years, adding to concerns over the health of the world's second largest economy. Exports dropped sharply by 25.4% from a year earlier, while imports fell 13.8%
Michigan taxpayers may pay up to $2.7 million in outside legal fees associated with the Flint water crisis if Governor Rick Snyder and Attorney General Bill Schuette receive all the money they’re seeking from state lawmakers.Snyder’s office requested $1.2 million for legal fees, according to an agenda summary submitted to the State Administrative Board’s Finance and Claims Committee. The money would go to two separate legal firms assisting the government with the situation in Flint.
Chinese Gold Reserves increased by 9.953 tonnes (320,000 ounces) in February.
Since starting monthly reporting in July 2015, China has added about 130 tonnes of gold to its reserves. Total reported Chinese gold reserves stand at 1,788.323 tonnes.
Italian banking stocks have declined a whopping 28 percent since the beginning of 2016. Italy has the 8th largest economy in the world, no way that Europe has the resources or the ability to handle a full meltdown of the Italian financial system.
While Turkish President Recep Tayyip Erdogan has championed his government's role in defending Turkish interests throughout the migration crisis and war in Syria, critics fear the president's strong-handed approach to domestic and foreign policy may be severely undermining the Turkish economy.
Canada has used up all of its gold reserves. For the first time since 1935 the country is out of gold. The volume of gold reserves in Canada has declined steadily over the past 50 years. In the mid-1960s, Canada’s gold reserves exceeded 1,000 tons. By 1985, half had been sold. In 2015, the reserves were down to three tons and now the country has no gold left.
Homeless man racked up over $110,000 in tickets. The man had over 500 tickets, which amounted to over $110,000 in fines. The fines were mostly for things that homeless people can’t control, such as sleeping in the subway.
German newspaper Der Spiegel reported yesterday that the Bavarian Banking Association has recommended that its member banks start stockpiling PHYSICAL CASH.
Turkey has offered to take back unregistered migrants from Greece while sending the same number genuine Syrian refugees to the EU. In return, Ankara wants double the promised EU funding, visa-free travel, and faster progress towards EU membership.
Iranian billionaire Babak Zanjani, who was facing charges of economic corruption among others, has been given a death sentence;. charged with massive fraud at Iran’s Ministry of Petroleum, Social Security Organization and Bank Maskan (specializing in housing finance), money laundering and forgery.
New UK government figures reveal a dramatic increase in the number of people sleeping rough in Britain, with the figure rising by almost a third in one year and doubling over five.
Last year, Baron David de Rothschild was indicted by the French government after he was accused of fraud in a scheme that allegedly embezzled large sums of money from British pensioners. French government announced it launched an investigation into Swiss branch of the Rothschild’s banking empire. Paris-based liaison judge Javier Gómez Bermudez ruled that Rothschild must face a trial for his crimes, ordered local police to seek him out.
President of the Czech Republic Milos Zeman: Greece could pay off its international debt by hosting deportation centers; believes Athens could cash in on helping to deport migrants from Europe."Detention centers would be built on Greek islands where migrants from Europe would be deported, Greece would, by maintaining these detention centers, pay its otherwise uncollectible foreign debt."
Cuts to pensions ofemployees of federally-owned Tennessee Valley Authority (TVA), largest public utility company in the US marks a new stage in the drive by the ruling class, to take back all of the social gains won by the working class over the course of a century of struggle. TVA cuts will breach the “firewall” that up to now protected federal employee pensions, marking first time the federal government makes significant moves against defined benefit obligations. The underfunding of the pension plan by $6 billion used to justify the cuts.
Official figures released by the Brazilian government on Thursday showed that the country’s economy in 2015 suffered the deepest contraction in 25 years.
Despite facing sanctions, falling oil prices and recession, the Russian ruble is the most undervalued currency in developing Europe according to Deutsche Bank.
Putin said Energy Minister Aleksandr Novak is in constant talks with foreign oil exporters and has agreed with them that Russia will not increase oil exports.
The Oregon House overwhelmingly passed House Bill 4094 that protects Oregon banks who provide financial services to state-regulated marijuana businesses,.now moves onto Governor Kate Brown, who is expected to sign the bill, making Oregon the first state to remove all criminal penalties for banks and credit unions that work with cannabis businesses operating within state law.
Chinese officials announced plans to lay off roughly 1.8 million workers in the coal and steel industries, as part of president Xi Jinping’s politically difficult effort to restructure the world’s second-largest economy. It’s unclear as to the time frame for the cuts, which were announced by Yin Weimin, China’s minister for human resources and social security.
Citigroup once again faces government fines for committing fraud in its credit card division. February 23, the Consumer Financial Protection Bureau (CFPB) fined Citigroup and its consumer division Citibank for the way it handles selling credit card debt; ordered Citigroup to pay $8 million — $5 million in restitution and $3 million in fines — for “selling credit card debt with inflated interest rates and for failing to forward consumer payments promptly to debt buyers.”
The parents of a baby injured by a flash-bang grenade during a no-knock multi-agency task force raid in Georgia, will be awarded $3.6 million after a federal judge’s decision on Friday. 19-month-old Bounkham Phonesavah (Baby Bou Bou) spent weeks in a burn unit after deputies with a Cornelia Police Department SWAT team threw a flash bang grenade directly into his crib, which exploded in his face, leaving him permanently disfigured.The raid was conducted at around 3:00 am for a drug suspect that wasn’t even in the house. By happen-stance, the Phonesavanh family was staying at the residence with relatives because their home in Wisconsin had just burned down.
A court has ruled that French Professor Gilles-Eric Séralini was correct when he concluded that GMO food, when fed to rats, caused serious health problems including tumors.
Russian gas company Novatek invites Japanese business to invest in a wharf in the Barents Sea, which is part of a larger project to produce liquefied natural gas (LNG) in the Arctic, the company's chief said Monday.
Many species of wild bees, butterflies and other critters that pollinate plants shrinking toward extinction. The world needs to do something about it before our food supply suffers, a new United Nations scientific mega-report warns. 20,000 or so species of pollinators are key to hundreds of billions of dollars’ worth of crops each year — from fruits and vegetables to coffee and chocolate. 2 out of 5 species of invertebrate pollinators, such as bees and butterflies, are on the path toward extinction. Pollinators with backbones, such as hummingbirds and bats,slightly better off, with 1 in 6 species facing extinction.“We are in a period of decline and there are going to be increasing consequences,”
Belgium on Friday charged Swiss banking giant UBS with “serious and organised” fiscal fraud for encouraging clients to cheat on their taxes as well as being involved in money laundering.
For 2015, the government reports $3.2 trillion in total assets. This includes everything from financial assets like bank balances to physical assets like tanks, bullets, aircraft carriers, and the federal highway system.Single biggest line item amongst these listed assets is the $1.2 trillion in student loans that are owed to the government by the young people of America;. delinquency rates are rising, now at 11.5% according to Federal Reserve data..
Wealthy Gulf states have increased their investments into Russia as traditional investments such as Europe become less profitable. Although Russia's Direct Investment Fund (RDIF) has been hit with US sanctions, it has been no barrier for wealthy Arab nations in the Persian Gulf interested in investment, the Arabian Business Weekly reported. Over 90 percent of the RDIF's investors have come from the Middle East and Asia, particularly from large sovereign wealth funds.
Russian banks are now required to provide full details of foreign currency operations by individuals to the country's central bank. According to the Central Bank of Russia, the new rule introduced to track money transactions of residents and non-residents without bank accounts in Russia. The regulation requires foreign currency operations to be reflected in the register of transactions with cash and bank receipts.
A St. Louis jury has recently awarded $72 million to the family of a woman from Alabama whose ovarian cancer death was traced to years of using Johnson & Johnson talcum powder.
Venezuela sent $1.3 billion worth of gold bars to Switzerland in mid-January, according to data from the Swiss Federal Customs Administration. That gold was shipped out just weeks before two big debt payments due this month, totaling $2.3 billion. On Friday alone, Venezuela has to pay bondholders $1.5 billion. Venezuela is running out of cash and many experts believe there’s a high chance it will default by this fall when a string of big debt payments are due.
Finance Minister Anton Siluanov: Russia will issue its Eurobonds irrespective of whether US banks agree to provide offering services, The Wall Street Journal reported the day before citing informed sources the US authorities recommended certain major US banks to refrain from buying Russian government bonds.
Russia seems to be launching a silent attack on the supremacy of the dollar and the Western countries, as President Putin is buying gold with “little fanfare, but on a large scale”; as there is no evident economic reason for such an increase, the move will provide Russia with an insurance against crises,
Birmingham's law department says the city's minimum wage ordinance is now void, after Governor Robert Bentley signed the Uniform Minimum Wage and Right-to-Work Act. Birmingham City Council passed an ordinance speeding up the implementation of its $10.10 minimum wage to go into effect Sunday. Alabama Senate had a bill to block it on the fast track. The governor's signature came an hour after the Senate passed the measure.
America media gives round-the-clock coverage to the minutiae of capitalist politics—the insults and smears and lies hurled back and forth between the various representatives of big business seeking the nominations; little attention of life facing working-class majority of the American population. .Anger among working people, expressed in only a very limited and distorted way in the presidential campaign.
German beer industry is in shock after finding that 14 different popular beer brands have traces of the ‘probably’ carcinogenic herbicide, glyphosate – an ingredient found in Monsanto’s best-selling weed killer, Round Up; even in beer that is supposed to be brewed from only water, malt, and hops..Germany’s Agricultural minster is playing down the risks in order to save one of the countries’ best-selling exports.
Yelp employee said she was fired after she blogged about the financial pressures she felt working for the multibillion-dollar business;her breaking point came when she went to sleep, woke up "starving" two hours later. Your employee for your food delivery app that you spent $300 million to buy can't afford to buy food," she wrote. "That's gotta be a little ironic, right?" The minimum wage in the city is $12.25 an hour. Yelp said in a statement : "We did agree with many of the points in the Medium post and thought it served as an important example of Ms. Ben-Ora's freedom of speech," "We agree with her remarks about the high costs of living in San Francisco, which is why we announced in December that we are expanding our Eat24 customer support team into our Phoenix office where we will pay the same wage."
Gazprom signed a memorandum of understanding with Italian energy firm Edison and Greek gas company DEPA on Wednesday on natural gas deliveries from Russia to the future gas pipeline ITGI, which will link Greece and Italy.
US government has urged major banks not to bid on a potentially lucrative but "politically risky" Russian bond deals, claiming it could undermine international sanctions against Moscow. Russian Finance Ministry sent a prospectus to 25 Western investment banks and three Russian lenders, wants to raise $3 billion by issuing Eurobonds. ,Since 2002 US banks earned nearly a quarter of all annual Russian investment banking revenue. In 2007, they made $630 million profit on $2 billion in investment banking business in Russia.
Two South Kona coffee growers have reportedly filed a lawsuit against Monsanto, claiming that the company lied about the possibility for glyphosate, the main ingredient in Round Up, to cause cancer. The lawsuit seeks unspecified monetary damages, including compensatory damages, punitive damages and attorneys’ fees, and court costs.
Organic food sales $37 billion annually, up 12% from a year ago, trend shows no sign of slowing. Top food retailers in the US, including Costco, Kroger, Walmart and Target, have expanded their organic food offerings in recent years due to the forecasted growth.organic sales have grown to 5% of the ENTIRE food market.
Domestic e-commerce in China was up 31.6 percent last year to 3.2 trillion yuan ($490 billion) as the country transitions from an export to a consumer-driven economy. Overall Chinese retail sales of consumer goods reached 30.1 trillion yuan ($4.6 trillion) in 2015, up 10.7 percent year-on-year.
After adding 6,700,000 ounces (208 tonnes) of gold to her reserves in 2015, the Central Bank of the Russian Federation announced today that it had added another 700,000 ounces of gold (21.77 tonnes) to its reserves in January 2016. The report indicated that Russian gold reserves increased by 700,000 ounces from its December 2015 report to 46.2 million ounces (1,436.98 tonnes).Russia now has 1,437 tonnes of gold in reserve; the sixth most of any nation.
The Federal Aviation Administration say unregistered drone users could now face fines as high as $250,000 for flying their UAVs or the possibility of up to three years in jail.. FAA announced that a total of 368,472 drones had been registered with agency, surpassing the number of airplanes on record with the federal government..
. A company known as Crowds on Demand is actually in the business of providing fake protesters for causes, fake entourages for wanna be celebrities and seemingly even fake supporters for unpopular corporate activities,.actors are hired to try and sway public officials.
Russian oil exports to China increased fifteen percent in January, as Beijing's crude imports from Saudi Arabia decreased at the same time, according to China's General Administration of Customs.
Marc EdwardsVirginia Tech civil engineer, professor; helped expose Flint water crisis: scientific research for the public good is lost due to a scientific culture that lives on a “hedonistic treadmill.” Researchers face incredible pressure to pursue funding, publication, and academic clout for the universities that sponsor their work. The pressure put on academics to secure funding is leading scientists to ignore obvious truths that need investigation. Instead, they make convenient statements that line their pockets.
Lawmakers in places like Arizona have made news recently by placing a tax on solar panels, but in some areas, politicians want to ban solar power altogether. New legislation in Maine and Hawaii seek to limit where solar companies can operate. Maine, legislators are looking to prevent owners of solar panels from selling their excess power back to the grid. Hawaii, lawmakers want to ban solar outright in certain areas.
Rex Iverson was jailed for the alleged crime of not paying an ambulance bill. Legally, this should not be a jailable offense.The very next day, Iverson was found dead. Tremonton City Ambulance service tried to garnish his wages, “but he didn’t have a job, Utah calls their illegal debtors prison “justice courts.” In last three years, there have been 13 people arrested and jailed for debts just like Iverson’s. Many of these debts have been ones owed to government agencies..
,After 542 days of airstrikes, the cost of the campaign reached $6.2 billion, $480,000 for every hour. Pentagon is asking for another $7.5 billion to continue battling ISIS—double the amount requested for 2016; calls for more US troops to be deployed in combat or advisory roles. 37,000 bombs and missiles have been dropped, and 20,000 ISIS fighters have been killed, according to the Pentagon.
British Prime Minister David Cameron late Friday struck a reform deal brokered by the Commission at a European Union summit that gave the country "special status" in the 28-nation bloc. The agreement guarantees that Britain will never be forced to bail out members of the eurozone, gives Britain the right to supervise financial institutions and markets to preserve financial stability. Britain would vote on whether to remain in the EU June 23.
In a further sign of its ramping up its military muscle, Saudi Arabia has become the biggest arms importer in the Middle East, and the second biggest in the world, after India, with an increase of 275 percent. "Arms on order include 150 combat aircraft and thousands of air-to-surface missiles and anti-tank missiles from the USA, 14 combat aircraft from the UK and an undisclosed but large number of armored vehicles from Canada, Belgium.,"
Flint residents are not only still being charged for their poisoned water, but they’re being charged higher rates than almost anywhere in the country, pay $864 a year for water that is making them sick, more than double what most Americans pay for water. Multi-billion dollar corporation Nestle has been pumping millions of gallons out of Lake Michigan for free; they receive 13 million dollars in tax breaks to do so.
Venezuela's previous bout of inflation in the mid-1990s saw prices rise just over 100 percent annually. The historic record was surpassed in mid-2015. Prices for alcohol, tobacco, clothing and education services all increased by over 30 percent. Prices for healthcare, domestic appliances and leisure services all increased just under 30 percent, with communications and rent appreciating 8.5 and 6.1 percent.
Greece’s “radical left” Syriza party is forging a close military alliance with Israel, one of Washington’s key allies in the Middle East. Last month, Greece’s Syriza-led coalition government with the Independent Greeks signed an agreement with Israel and Cyprus pledging closer cooperation over their gas reserves in the Eastern Mediterranean and other economic issues.
Hungary’s central bank, already facing criticism for a spending spree ranging from real estate to fine art, is now beefing up its security force, citing Europe’s migrant crisis and potential bomb threats among the reasons. The National Bank of Hungary bought 200,000 rounds of live ammunition and 112 handguns for its security company,
At risk of being fined for individual acts of illegal trades or speculation, the biggest banks are deploying surveillance tactics not far off from ones used by the government. Every move bank employees make is likely being monitored by former military intelligence or CIA and GCHQ members, or even computer algorithms, according to a Bloomberg report based on interviews with“more than a dozen recruiters, bank executives and compliance officers.”HSBC, Deutsche Bank, and JP Morgan Chase & Co. were listed among the too-big-to-fail banks monitoring everything from cigarette breaks to text message metadata.
Export version of Su-30SM fighter jetshown on the international market for the first time, offer foreign customers a fighter jet equipped with a Russian-made avionics suite, enhancing the aircraft’s capabilities; has canards and engines with a controlled thrust vector, which makes the aircraft supermaneuverable,. wide range of munitions, air-to-air missiles and air-to-surface precision guided weapons. Southeast Asian, Middle East and North African countries have already shown interest.
Gasoline will no longer be cheaper than water for Venezuelans after President Nicolas Maduro devalued the national currency and raised petrol prices 60-fold, hiked petrol prices for the first time in 20 years, Venezuelan economy is no longer able to subsidize its cost.“I take responsibility for it,” said Maduro. Crude exports account for 95 percent of Venezuela's revenues. Since 2014 oil prices have fallen over 70 percent, slashing the nation’s income dramatically.
Iranian officials announced Monday that Iran would spend another $8 billion on the purchase of Russian-made arms. The sale comes as Moscow gears up to deliver to Iran an advanced missile air defense system as part of a deal that has been in the works for years. Iran also is seeking to buy and possibly license for domestic production Russia’s new Sukhoi Su-30SM fighter jet,
Professor Peter Bofinger; German Council of Economic Advisers:. German plan to impose "haircuts" on holders of eurozone sovereign debt risks igniting an unstoppable European bond crisis and could force Italy and Spain to restore their own currencies. "A speculative attack could come very fast. If I were a politician in Italy and I was confronted by this sort of insolvency risk I would want to go back to my own currency as fast as possible, because that is the only way to avoid going bankrupt.
Flint residents paid the highest water rates in America even as their water was tainted with lead. Flint residents paid about $864 a year for water service, nearly double the national average and about three-and-a-half times as much as Detroiters pay.
A state fund — 1Malaysia Development Berhad (1MDB) — was set up with Tim Leissner, the Singapore-based chairman of Goldman’s Southeast Asia operations, Goldman was paid sky-high commissions for bond sales. Then $681 million tied to the fund mysteriously turned up in the bank account of Malaysian Prime Minister Najib Razak. The FBI reportedly is investigating all the fund’s transactions in concert with wider probes of money-laundering allegations spanning five countries.
US Marshals Service in Houston is arresting people for not paying their outstanding federal student loans. Paul Aker says he was arrested at his home last week for a $1500 federal student loan he received in 1987. Congressman Gene Green says the federal government is now using private debt collectors to go after those who owe student loans.
A protest by French farmers is taking place in Paris. Large crowds have gathered to decry the low prices of agricultural produce. Prices are being driven down by the sanctions exchange with Russia, which has caused domestic produce to flood the French market.
Sen. Bernie Sanders: community of Flint is the "canary in the coal mine" in a country that has seemingly endless money to spend on wars in the Middle East, but cannot afford to protect its citizens or rebuild its aging infrastructure.
North Dakota and Minnesota have both started grant programs., ranging from $750 to $1000, help farmers to transition to organic crops. The money can be used for everything from soil testing to education on how to grow food in a sustainable way. . Farmers would ditch GMOs along with their toxic pesticides and herbicides. The aim is to boost acreage of organically-grown crops.
The network itself is fragmented, widely varying levels of security at each point. Vulnerable to nation-state attacks.The payments ecosystem is very complex,“ compared to a “spaghetti bowl.” 15 automated clearing house networks; four major credit card networks Federal Reserve, which clears and settles paper, electronic checks; large processors that process debit and credit card transactions. Banks have their own payment systems; and retailers that accept payments at point of sale terminals.
Demand for energy expected to increase by 34% between 2014 and 2035, 1.4% per year. The US will achieve oil self-sufficiency by 2030 and Russia will remain the world’s largest exporter of primary energy resources and second largest oil and gas producer, according to the 2016 edition of the BP Energy Outlook, published on Wednesday. despite current weakness in global energy markets and the slowdown in China’s growth, demand for energy will continue to grow over the next 20 years.
US increased its daily oil output from 10 to 14 million barrels, topping the world’s largest producers – Russia and Saudi Arabia; global market experienced additional four millions barrels a day. Oil output increase in Iraq. Sanctions lifted against Iran. Brazil significantly increased its oil output, Warming winter in the northern hemisphere; demand for heating fuel in the US, Europe and Japan significantly dropped.
Russian firms that have a controlling stake outside the country can no longer apply for state support;, new law signed by President Putin on Monday. prohibits government subsidies to purchase foreign currency except for buying high-tech equipment, raw materials or components;. if an offshore company promotes export of Russian products, it can still get government aid.
British government's move to outlaw boycotts, including those aimed at Israel, is being likened by critics to former Prime Minster Margaret Thatcher's support for apartheid South Africa. Under the new plan, publicly-funded institutions that refuse to purchase goods and services from "unethical" companies will face "severe penalties,"
Head of the German party UNITY (EINHEIT) Dimitri Rempel said on Monday.“Germany has lost over a million jobs due to the sanctions imposed against the Russian Federation. A great number of companies have gone bankrupt, gone out of business or had to move out resulting in the loss of many jobs and financial losses too,”
As global stocks enter a bear market, gold is on the verge of bull status.Bullion has climbed 18 percent this year, making it the best-performing commodity.. Stock volatility and growth concerns will boost the appeal; people are flooding to safe-haven assets.
Opponents of Canada’s $15-billion arms deal with Saudi Arabia are taking Ottawa to court in an attempt to block shipments of the combat vehicles, a move that could force the governing Liberals to explain how they justify the sale to a human-rights pariah under weapon-export restrictions.
After seven years of benefiting from the greatest transfer of wealth in history, the U.S. banking industry topped it off with record profits in 2015. The U.S. banking industry earned net income of $163.63 billion in 2015, the highest net income of any year in the SNL bank regulatory database, which dates back to 1991, in stark contrast to the plight of the middle class, whose wages have stagnated while health insurance costs reach crippling proportions. Wealth inequality in the U.S. has greatly expanded–a trend that defines countries with Quantitative Easing (QE) programs.
Swiss banking giant Credit Suisse said Thursday that it would eliminate about 4,000 jobs as it attempts to cut costs following a huge quarterly loss. Credit Suisse posted a net loss for the fourth quarter of 5.3 billion Swiss francs ($5.3 billion), compared to a net profit 691 million francs a year earlier. Tidjane Thiam, the bank’s CEO, said the job cuts would save the firm about 1.2 billion francs per year.Poor performance was linked to a number of different factors including sharply falling oil prices, diverging monetary policies by global central banks, a strong Swiss franc and slowing economic growth in China.
The German treasury has predicted "substantial sustainability risks" to the country amid reports that the Eurozone is set for further bailouts because of fears over another sovereign debt crash. Despite Germany's Federal Finance Minister Wolfgang Schauble running a 2015 surplus of US$13.5 billion, experts in his department are predicting "substantial sustainability risks" to Germany's long-term debt-to-GDP ratio because of an aging population.
The head of Russia’s Investigative Committee, Aleksandr Bastrykin, has called for the creation of an international coalition of states to fight the “dictatorship” imposed by the US on the rest of the world, and to reject US dollar as a reserve currency, said an alliance of countries was needed which could act in concert. United States and its allies were waging a “hybrid war” against Russia which included price dumping on energy markets together with “currency wars.”
Global stock markets formally entered a bear market Wednesday after further losses in Asia, European markets closed down reflected crisis of confidence in financial markets, amid a rapid deceleration of the global economy, a sell-off in emerging market debt, a downward spiral in commodities prices, and the seeming perplexity of central banks as to how to deal with a renewed outbreak of panic eight years after the 2008 financial crisis.
(Kitco) A spooked world marketplace has prompted keen safe-haven demand for gold that has sent the precious metal to a 12-month high above $1,240.00 an ounce in early U.S. trading Thursday. April Comex gold was last up $44.50 at $1,239.00 an ounce. March Comex silver was last up $0.343 at $15.62 an ounce. There is keen worldwide investor and trader risk aversion as most world stock markets absorbed sharp losses overnight.
The Feds want to close down the automotive aftermarket parts business. NHTSA/EPA introduced proposal that would prohibit any changes to an automobile's engine or exhaust after it leaves the factory forcing car owners to use 'original equipment manufacturer' (OEM) parts and not aftermarket parts. The aftermarket community is a multi-billion dollar market.."'Major auto companies have turned to the International Trade Commission to sanction a novel use of design patents on individual repair parts to shut out aftermarket competition even if they are used solely for competition or become nonroad vehicles or engines,"
A tariff dispute between China and the US could drive a wedge between the nations, triggering a high-stakes trade war..The Norwegian company REC Silicon, one of the world's largest polysilicon producers, stated on Monday that it was temporarily closing its operations in Moses Lake, Washington due to the ongoing conflict between the US and China over solar panels. For the state, which is largely dependent on trade exports to Beijing, the announcement has come as an unwelcome surprise.
General Motors went to Gov. Snyder him and complained the Flint River water was causing their car parts to corrode when being washed on the assembly line so he spent $440,000 to hook GM back up to the Lake Huron water, while keeping the rest of Flint on the Flint River lead-filled water.
Washington fixer Kenneth Feinberg held the final public hearings before the implementation of plans to slash the pension benefits of 270,000 retired truck drivers, package handlers and other beneficiaries of the Teamsters Central States Pension Fund by between half and 75 percent.
Starting February 15, corn and soybeans from the US will no longer be welcome in Russia, announced the country's food and safety watchdog on Wednesday,. failed to meet Russian biological standards. The US exported 300,000 tons of soybeans to Russia from January to October last year.
JPM Quant is now saying the market is going to fall further and the Tech bubble has just popped. Russia will become the biggest exporter of wheat. Venezuela now selling the rest of its gold. Germany and France want an Eur zone finance ministry to take more control of the countries. Iran says it will not use the dollar for oil trade. The number of US citizens renouncing their citizenship surges. Obama asks congress for 1.8 billion to fight the Zika virus
Precious metals banked another solid week of gains as investors looked for alternatives to the stock market and U.S. dollar. Fear looks likely to persist and may accelerate; precious metals have been big beneficiaries as investors look for safe havens.
Russia’s restrictions imposed against Turkey in response for hostile actions may cause losses for the country’s economy exceeding $11 bln in 2016, Russia’s ambassador to Ankara Andrey Karlov told TASS, adding that tourism and agricultural sectors are likely to be hardest hit.
During a meeting with President of the European Council Donald Tusk and European Commission Chairman Jean-Claude Juncker, Turkish president Recep Tayyip Erdogan demanded from Brussels €30 billion to resolve the European migrant crisis a leaked document revealed, said Turkey would put refugees on buses to Europe.
Deutsche Bank. stock price down 36 percent since 2016 began, banks in Europe in trouble includes Commerzbank, Credit Suisse, HSBC and BNP Paribas. Greek bank stocks lost close to a quarter of their value Monday.
The global economy seems trapped in a “death spiral” that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi strategists have warned. Some analysts — including those at Citi — have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S.
Monsanto Co (MON.N) will pay $80 million to settle civil accounting violations after it allegedly misstated its earnings in connection with its top-selling Roundup product, U.S. securities regulators said on Tuesday. The Securities and Exchange Commission also said that three accounting and sales executives have also agreed to settle charges in connection with the case.
Despite the economic slowdown, the sale of luxury goods in Russia is going well. The number of Chinese tourists in Russia increased one third in 2015, with many of them buying up Russia's luxury goods like never before. Over the past year the yuan exchange rate against the ruble has almost doubled. Very high tax on luxury goods in China, prices almost 70% higher than in Europe..
French Prime Minister Manuel Valls will meet his Russian counterpart Dmitry Medvedev on Saturday to discuss the prospects of lifting the ban on French food imports, says Agriculture Minister Stephane Le Foll. The former prime minister of France Francois Fillon described anti-Russian sanctions as a mistake, called for their removal as soon as possible. .2014, France accounted for 20 percent of EU’s crop output, 15.5 percent of livestock.
The Obama administration is pushing ahead with its plans to slash pension benefits for up to one million participants in “underfunded” multiemployer pension funds as part of its drive to make defined-benefit pensions a thing of the past for all US workers.
Your donation helps provide a place for people to speak out.
Not tax deductible. firstname.lastname@example.org
|Search the Site||Search the Web|
|<< <||> >>|