Saturday, July 20, 2013

Goldman Sachs aluminum scandal could roil financials and commodity prices this week ..Goldman and other financial players has cost American consumers more than $5 billion over the last three years..
Rolls-Royce Revives Age of Sail to Beat Fuel-Cost Surge: Freight Rolls-Royce Holdings Plc (RR/), best known for powering planes from Concorde to the Airbus superjumbo, is working on a modern-day clipper ship as it bets on emissions curbs to jack up bunker-fuel costs and herald a new age of sail.


  • The Group of 20 nations pledged on Saturday to put growth before austerity, seeking to revive a global economy.
  • The Group of Twenty (G20) nations will back a global taxation reform, which will help avoid double taxation.

  • German austerity chief, finance Minister Wolfgang Schauble has warned Greek leaders not to play with fire by pressing for fresh debt-relief. He urged Greeks not to back track from their painful austerity and reform path. What’s the problem? You Greek’s don’t like 28.2% unemployment - too high?

  • Investors, fearing that the end of the commodity super cycle of ever-rising prices are heightened by China’s slowdown, are heading for the exits.

  • U.S. Fed chief emphasizes bond purchases could yet be accelerated if economic recovery shows signs of faltering. Bernanke said there are three main reasons for the rise in longer-term interest rates, which he thought was relatively low. He cited better economic news as the first reason. "As investors see brighter prospects ahead, interest rates tend to rise," Second reason is probably the "unwinding of leverage, and the third reason, is related to the Fed's communications and market interpretations of Fed policy. "But I want to emphasize that none of that implies that monetary policy will be tighter at any time within the foreseeable future," he said.

  • Moody's Investors Service lifted its outlook on the U.S. government bond rating to stable from negative and reaffirmed the U.S. government's Aaa rating.

  • (FT) US banks have lost billions of dollars of paper profits on their securities portfolios as market interest rates rise. Data released by the Federal Reserve on Friday showed unrealised gains in these portfolios had plummeted from more than $40bn at the beginning of the year to about $6bn

  • The U.S. home builder sentiment index gained 6 points to 57 this month, the highest level since January of 2006, according to the National Association of Home Builders Any reading over 50 indicates that more builders view sales conditions as good rather than poor.
  • U.S Privately-owned housing starts in June dropped 9.9% to a seasonally adjusted annual rate of 836,000, its lowest level since August last year.

  • Wildfires are chewing through twice as many hectares a year on average in the US compared with 40 years ago, US Forest Service Chief Tom Tidwell told a Senate hearing.

  • U.S. Automakers are thriving – Detroit however files for bankruptcy: U.S. automaker General Motors Co. said that it sold 4.85 million vehicles globally in the first half of 2013, up 3.9% YoY. "Can we help Detroit? We don't know," Vice President Joe Biden said in response to a reporter's question about a possible federal rescue.

  • Chinas Industrial Output rose 8.9% YoY
  • China Q2 GDP up 7.5 % YoY

  • Spain's public debt rose to 89.6% of GDP in May

  •  (Pritchard) If you think, China's Communist Party fully understands the mess it has created by ramping credit to 200pc of GDP and running the greatest investment bubble know to man, read its shockingly complacent response to warnings from the International Monetary Fund.

Thursday, July 11, 2013

With its 41-megapixel camera, (NOK) Nokia’s Lumia 1020 absolutely brings the wow factor, proving that Nokia can innovate with the very best - that it is a mobile force to be reckoned with!

Go to 37:30 of the presentation and check out the needle-in-a-haystack – Remarkable!

Saturday, July 06, 2013


  • Markets have overreacted to the likelihood that the U.S. Federal Reserve will taper its quantitative easing policy, or QE, HSBC said in its quarterly equity insights research released on Friday. "The lesson of history is that the first tightening in a cycle -- as long as it comes because risks to growth have diminished, not because of inflation or structural worries -- typically causes only a short-lived correction in stocks," the bank said.

  • The US figures showed the economy had gained nearly 200,000 jobs in June, and a revision of previous low estimates saw an extra 70,000 added in April and May. However, the unemployment rate stays unchanged at 7.6%.

  • Marine Le Pen vows to smash the existing order of Europe and break-up the Euro if she wins the next election.

  • Ukraine anticipates a 25% increase in wheat output this year

  • The European system of carbon trading has practically collapsed as politicians prioritize the economy over the environment.

  • The Standard & Poor’s Case-Shiller home price index showed a 12% increase in prices in 20 cities from April 2012 to April 2013, the largest gain since early 2006, when home values began to level off in advance of the market collapse.

  • The IMF is preparing to suspend aid payments to Greece by the end of next month unless Eurozone leaders plug a €3bn-€4bn shortfall that has opened up in Greece’s €172bn rescue program.

  • Bernanke says US central bank could start slowing asset-purchase scheme later this year and end it by mid-2014.

  • Car sales are down 10% in Austria, France and Germany, and 47% in Romania. The European market has contracted by a quarter from its heyday before the debt crisis and the fiscal squeeze.

  • China's shadow banking system is out of control and under mounting stress as borrowers struggle to roll over short-term debts, Fitch Ratings has warned.

  • The CBO concludes that immigrants will generate additional tax payments over the next decade and reduce the U.S. deficit…

  • Several former Bank of America employees filed declarations in a federal court claiming the mortgage lender told them to lie to customers seeking loan modifications...

  • The flash HSBC China Manufacturing Purchasing Managers' Index fell to 48.3 in June from 49.2 in May, the weakest in nine months.

  • Brazilian Finance Minister Guido Mantega said that the government will trim its 2013 budget by 15 billion reales (or 6.7 billion U.S. dollars).

  • According to the Italian central bank, national public debt reached 127% of gross domestic product (GDP) last year, up from 120.8% in 2011, placing the country second in the European Union (EU) after Greece.

  • A mother of seven, Ursula von der Leyen is Germany's labor minister and a role model for women juggling demanding careers with family commitments. In an interview, the 54-year-old has some advice for young people struggling to find work. How best to solve Europe's youth unemployment crisis? Make young people learn English.