Saturday, July 14, 2012
JPMorgan Chase disclosed on Friday that losses on its botched credit bet could climb to more than $7 billion and that the bank’s traders may have intentionally tried to obscure the full extent of the red ink on the disastrous trades.
Mounting concerns about valuing the trades led the company to announce that its earnings for the first quarter were no longer reliable and would be restated. Federal [...]
As part of its attempt to digitalise world history and culture, Google has struck a deal with the Italian government to post 30,000 Italian newsreels and documentaries from the 20th century online, many of which glorifyBenito Mussolini‘s fascist dictatorship.
Google has dedicated a YouTube channel to the crackly news reports, which represent about a third of the newsreel and documentary archive held by Italy‘s Istituto Luce-Cinecittà.
The core of the archive is short films made [...]
July 4, 2012
A senior commander of the Islamic Revolution Guards Corps (IRGC) says Iran has gained enough information from the US drone it captured last year to duplicate the aircraft.
“The American RQ-170 drone will be undoubtedly duplicated,” Commander of the IRGC’s Aerospace Division Brigadier General Amir-Ali Hajizadeh noted on Tuesday.
Rejecting foreign media reports about Iran’s inability to decode drone’s information, the IRGC commander said the Islamic Republic has already proven [...]
Marc Chandler, Marc to Market
A red herring is a rhetoric ploy to divert attention from the issue at hand by introducing some irrelevant topic. The framing of the Greek election around the memorandum of understanding is such a red herring. There has been such deterioration of the economic conditions in Greece that the conditions and terms of its international assistance will have to be re-crafted in any event.
Consider Greece’s two main [...]
China’s first stealth plane spotted on test runs, making China one of three nations with stealth jet technology
Critics claim this is a rip-off of America’s F-22 jets, which cost $66.7billion to develop
Flying over the skies of Chengdu in southwest China, the Chinese’s latest stealth plane – the J-20 Might Dragon – is a testament to China’s growing prowess in military technology.
The debut flight of the plane may serve as a [...]
Before Mitt Romney’s Bain Capital bought the rambling SCM factory in Marion, Ind., it was running three shifts a day, making hanging file folders and other office supplies. But on July 5, 1994, everything changed.
The new owner, American Pad & Paper, owned in turn by Bain Capital, told all 258 union workers they were fired, in a cost-cutting move. Security guards hustled them out of the building. They would be able to reapply for [...]
Meet Johanna Quaas, the lycra-donning granny whose muscular physique puts Madonna to shame.
At 86 Quass, of Halle, Saxony, would be forgiven for wanting to put her feet up, which she does – over her head that is.
And her gymnastic prowess is not the only trophy in her cabinet, she was once a member of the East German handball champion team, too.
Watch those specs! Johanna Quaas is an 86-year-old gymnastics champion [...]
By Andy Xie
BEIJING ( MarketWatch ) — Recently, stock markets around the world have performed remarkably well. This may even continue for a few months. The U.S. Federal Reserve’s promise to hold interest rates near zero until 2014 and signal of a third round of quantitative soon, combined with an improving U.S. labor market, have emboldened risk-takers. Financial markets are seeing more risk-on trade.
However, the [...]
Donald Trump endorsed Mitt Romney for president Thursday, saying he’s impressed by the Republican candidate’s debate prowess and believes he could easily beat President Obama in November.
“Mitt is tough. He’s smart. He’s sharp. He’s not going to allow bad things to continue to happen to this country that we all love,” Trump said in Las Vegas, telling the candidate to “go out and get ‘em.”
The real estate mogul, speaking briefly [...]
(Reuters) - Japan probably produced its first trade deficit last year in more than three decades as energy imports surged to cover for the loss of nuclear power following the Fukushima disaster, a major blow to an economy built on its exports prowess.
For decades Japan used an exports-orientated economic policy to build up global brand names such as Toyota, Sony and Canon and a manufacturing might that was the envy of the [...]
Curious how the US, on a state by state basis, stacks up against the rest of the world, in terms of economic (and population) prowess? The following interactive graphic from the Economist should answer all questions about what state is equivalent to what country. With some surprises: as the Economist points out: “Who would have thought that, despite years of auto-industry hardship, the economy of Michigan is still the same [...]
Network Managing Editor claims having well organized political support constitutes “gaming”
November 10, 2011
CNBC pulled an online poll 25 minutes after last night’s GOP debate, reasoning that “one candidate” was leading by a large margin – that candidate was, of course, Ron Paul.
As the following video shows, Ron Paul was ahead of the pack by a large margin, before the poll was unceremoniously pulled from the CNBC site altogether and [...]
by Brandon Smith from Alt Market
Be Honest CNBC-You Are Biased Against Ron Paul
Those of us who have supported Ron Paul since his presidential run in 2008 (and some who supported him long before that) have come to expect an astonishing array of mainstream media tricks, lies, and censorship when it comes to the “journalistic” examination of the good doctor. This doesn’t mean, however, that we have ever or will ever come to [...]
(Reuters) – AOL Inc CEO Tim Armstrong has been meeting with top shareholders in the past couple of weeks to push the idea of a sale to Yahoo Inc that could wring up to $1.5 billion of cost savings, according to sources with knowledge of the discussions.
While Yahoo’s own strategic review has bumped AOL to the back burner for many on Wall Street, Armstrong [...]
The Internet just got a lot faster — at least following a Google (GOOG) search. And offices across America probably will get just a bit louder.
Leveraging its prowess in computer science, Google launched an array of new mobile and desktop search features Tuesday, including the ability to speak a search query to a desktop computer, the ability to run a search query on any personal [...]
Sssssh. Don’t talk about trading.
The first quarter results released Tuesday by Goldman Sachs showed a 21 percent drop in net earnings from the year earlier—from $3.46 billion to $2.74 billion.
But the drop was less than Wall Street’s analysts expected—thanks in large part to strong results in bond and stock trading.
But far from crowing about its trading prowess, Goldman is keeping this fact very quiet. So quiet, actually, that the word [...]
Ron Paul has had success with grassroots-powered online fundraising. | AP Photo
Ron Paul raked in roughly $3 million during the first quarter through his various political organizations, POLITICO has learned.
Though not all of that money can be transferred to a potential presidential campaign, the big haul demonstrates Paul’s continuing force as a grassroots-powered online fundraiser.
The Texas congressman raised $1 million through his federal PAC and [...]