Keep stacking and prepare as much as you can.
BRICS Challenges Unipolar World and US Dollar Hegemony
BRICS Summit draws clear red lines on Syria, Iran
The BRICS just became impossible to ignore. At the close of the Fifth annual BRICS Summit in Durban, South Africa last week, there was little question that this group of five fast-growing economies was underwriting an overhaul of the global economic and political order.
The eThekwini Declaration issued at summit’s end was [...]
The publication last week of the budgets of Republicans in the House of Representatives and Senate Democrats demarcates the political debate in Washington. Though all the press coverage is about the differences between the two proposals, there is also remarkable convergence. Some of that convergence is good news. Other aspects of the convergence threaten the future of the US as a dynamic society. Read more
Credit Agricole has sold its troubled Greek banking arm Emporiki to rival Alpha Bank for a symbolic €1 (£0.81).
France’s third-largest bank said that it would take a €2bn hit as a result of the sale. This includes losses from asset sales, transaction costs of between €300m and €400m, and the cost of rebuilding Emporiki’s balance sheet.
The French bank will pump an additional €550m into Emporiki as part of the deal, [...]
U.S. Sen. Scott Brown has moved into a narrow lead over rival Elizabeth Warren while his standing among Massachusetts voters has improved despite a year-long Democratic assault, a new UMass Lowell/Boston Herald poll shows.
The GOP incumbent is beating Warren by a 50-44 percent margin among registered Bay State voters, a turnaround from the last University of Massachusetts Lowell/Herald poll nine months ago that had the Democratic challenger leading by seven [...]
Chinese officials are worried that the growing relationship between India and Japan, its main rival, is meant to contain and counter it. This revelation comes from two Chinese experts at a time when China is engaged in a serious conflict with Japan over the Diaoyu Islands.
Last week Apple won a court battle over Samsung, and was awarded $1.05billion in patent lawsuit
Apple has asked a judge to end Samsung’s release of ‘copycat products’
Claims 21 products infringe its patents, including Samsung’s flagship smartphone the Galaxy S III
Google thought to be next because of competitive Android software
Fresh off the back of winning its $1bn court battle against tech rival Samsung Electronics Ltd, Apple is launching yet another lawsuit [...]
From The Dividend Monk:
An observation from various articles I’ve been seeing [with] increasing frequency this past year has been that dividend stocks, in general, may be overvalued. The articles of course have a range of quality, with some of them going so far as to call dividend stocks a bubble, with others using more reserved and nuanced observations.
It’s certainly an observation worth considering. After all, the Shiller P/E of the [...]
On August 24th, we warned on Forbes that Tropical Storm Isaac could pose a threat to energy markets and even rival Hurricane Katrina in its destructive power (Could Tropical Storm Isaac Turn Into Another Katrina?). While the computer models are still showing a substantial spread in solutions, it appears more likely that Isaac will make landfall somewhere near the Louisiana, Mississippi Gulf Coast. This track will provide the storm more time [...]
Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, put together a fascinating piece which covers everything from Hannibal vs Rome, to gold, silver and the biggest financial fight in history. Below is Fitzwilson’s piece.
“In the summer of 216 B.C., a battle commenced that one historian called the biggest knife fight in history. In the Battle of [...]
WASHINGTON (AP) — President Barack Obama is launching a new ad that questions whether rival Mitt Romney paid any income taxes in the past.
Apple has been ordered to publish a notice on its UK website and in newspapers, admitting that Samsung did not ‘copy’ iPad.
The Californian technology giant was ordered by a judge to alert British users to a ruling that Samsung’s Galaxy tablets did not copy designs for the Apple iPad.
The ruling, reported by Bloomberg news, will mean that a notice will be published on Apple’s home page for six months.
The company [...]
EAGAN, Minn. — It was four years ago this summer, when Tim Pawlenty ranked high on the list of John McCain’s potential running mates, and Mr. Pawlenty and his wife, Mary, were plowing through a voluminous questionnaire probing deep into their finances and almost every other aspect of their lives.
“I remember the two of us joking one night at some inhumane hour, ‘No way is Mitt Romney doing this by himself!’ ” Mr. Pawlenty later [...]
AFP - The widely popular Twitter website went offline for many users Thursday, prompting a flurry of complaints on rival sites.
“Users may be experiencing issues accessing Twitter,” a company statement said. “Our engineers are currently working to resolve the issue.”
That did not stop some panicked users from launching complaints.
“Twitters broke, my life has no meaning anymore,” one user wrote on the social media website Tumblr.
“Are The Numbers Starting to Add Up For Syriza?”
Thursday June 14, 2012
The unit at the centre of JPMorgan Chase’s $2bn trading loss has built up positions totalling more than $100bn in asset-backed securities and structured products – the complex, risky bonds at the centre of the financial crisis in 2008.
These holdings are in addition to those in credit derivatives which led to the losses and have mired the bank in regulatory investigations and criticism.
“I can’t see how they could unwind these positions because [...]
April 29, 2012
The Obama campaign opened up a new line of attack on Mitt Romney Friday, suggesting that as commander-in-chief Romney might not have made the same decision to order an attack by U.S. forces to kill terrorist mastermind Osama bin Laden that President Obama did.
But four years ago this April, the Obama campaign criticized Democratic rival Hillary Clinton for using Osama bin Laden in a political ad.
On the [...]
Originally, this story was a part of this documentary: The Corporation
If corporations are people, what kinds of people are they?
Rick Santorum’s latest attempt to use a Mitt Romney aide’s “Etch-A-Sketch” remark against the Republican front-runner instead gave his rival a chance to fire back on Thursday, after Santorum seemed to say he’d rather see President Obama reelected than send Romney to the White House.
Speaking at an event in Texas, Santorum again made the case that Romney spokesman Eric Fehrnstrom’s comments Wednesday on CNN about a “reset” of the campaign [...]
Former House Speaker Newt Gingrich hinted Sunday that if rival Republican presidential candidate Mitt Romney loses the primary election in his home state of Michigan, he should drop out of the race.
“If he loses his home state, I don’t see what he says the next morning to his donors to stay in the race,” Mr. Gingrich told “Fox News Sunday.”
If Mr. Romney, a former Massachusetts governor, can’t win his home state in a primary election, how can he [...]
From Carpe Diem:
Reuters reports that the shale oil-rich area of Texas known as the Eagle Ford is quickly becoming the country’s new hot spot for oil, and could rival production in the Bakken region of North Dakota within a few years:
“Over the past two years, some 30 companies have moved in to a shale prospect in South Texas called the Eagle Ford that could add 420,000 barrels per day (bpd) [...]
CHARLESTON, S.C.—Newt Gingrich has cancelled a campaign appearance in South Carolina because of poor attendance.
The Republican presidential candidate was scheduled to speak to the Southern Republican Leadership on Friday. But a campaign spokesman told reporters that he would no longer be appearing due to poor attendance.
There were just a few dozen people in the audience at the College of Charleston’s arena, where the event was taking place. The conference has [...]
Delta Air Lines is eyeing a bid for bankrupt rival American Airlines, a source close to the matter said on Thursday, despite doubts that the proposed mega-carrier would win regulatory approval.
Atlanta-based Delta, the world’s second largest airline after recently merged United-Continental, has enlisted investment firm Blackstone to craft a potential bid, the source said.
American Airlines declared bankruptcy in November, as it struggled to slash its debt burden and costs.
Bankruptcy, a common tactic in [...]
by Sam Ro, Businessinsider
Fraudulent funds might outperform their benchmarks significantly or post steady returns during volatile periods, reports The Wall Street Journal‘s Jean Eaglesham and Steve Eder.
At least outstanding returns are what the crooked funds often report to their clients, at least. (Don’t forget, Bernie Madoff wasn’t really posting those steady annually gains he boasted about).
In any event, the SEC’s finally on to this, and it’s using computers to spot likely swindlers.
According to the WSJ’s report.
Ben Milne founded Dwolla
There’s a tiny 12-person startup churning out of Des Moines, Iowa.
Dwolla was founded by 28-year-old Ben Milne; it’s an innovative online payment system that sidesteps credit cards completely.
Milne has no finance background yet his little operation is moving between $30 and $50 million per month; it’s on track to move more than $350 million in the next year.
Unlike PayPal, Dwolla doesn’t take a percentage of the transaction. It only [...]
LAKE CITY, Fla. (AP) — The battle for pizza supremacy has taken a wrong turn in Florida.
Two managers of a Domino’s Pizza restaurant in Lake City, in north-central Florida, have been charged with burning down a rival Papa John’s location. The motive? Police say one of the men admitted that he believed with his competitor out of the way, more pizza lovers would flock to his restaurant.
(Excerpt) Read more at hosted2.ap.org [...]
A Japanese computer has taken first place on the Top 500 supercomputer list, ending China’s reign at the top after just six months. At 8.16 petaflops, the K computer is more powerful than the next five systems combined.
The K computer’s performance was measured using 68,544 SPARC64 VIIIfx CPUs each with eight cores, for a total of 548,352 cores, almost twice as many as any other [...]