Monday, May 28, 2012


  • Radiation from cell phones can possibly cause cancer, according to the World Health Organization. The agency now lists mobile phone use in the same "carcinogenic hazard" category as lead, engine exhaust and chloroform.

  • The U.S. consumer sentiment index rose to 79.3, the ninth straight increase, from 76.4 the prior month. 77.8 was expected

  • (FT) Unexpected rise in sentiment from France and Germany helps Eurofirst 300 to weekly gain of 1.5% but Spanish markets hit by Bankia share suspension.

  • Germany will not "pour money into a bottomless pit" and patience with Greece is growing thin ahead of a new election next month, according to a member of Angela Merkel's cabinet.

  • Spanish Bank Bankia will reportedly ask the state for more than €15bn to bail it out when its new management team presents a restructuring plan.
  • Barclays says Spain's housing collapse is only half way through. RE prices will have to fall another 20% to clear an overhang of one million excess properties.

  • Bluefin tuna that spans off the coast of Japan is found with levels of radioactive cesium 10 times higher than the amount measured in tuna off the California coast in previous years.

  • Standard & Poor estimates that companies in Europe, the US and Asia require a combination of refinancing and new money to fund growth over the next four years of between $43 trillion and $46 trillion.

Sunday, May 20, 2012


  • (Telegraph) Germany's largest industrial union secures biggest pay rise for members in two decades in what is seen as a major breakthrough in dealing with the euro zone’s chronic imbalances.
  • At least 20,000 demonstrators marched through Frankfurt on Saturday in a peaceful protest against austerity measures.
  • Obama pressed Europe to shift toward a more pro-growth policy and away from austerity to tackle a crisis that threatens to push Greece out of the euro zone and send economic shockwaves worldwide.

  • Half of world platinum producers are facing losses at the current price.

  • Brazil’s wealthy are set to double in the next 11 years.

  • China, the world's second-largest economy, which produces more carbon dioxide emissions than any other country, plans to start seven pilot trading schemes.

  • (FT) Concerns over the past few weeks about limited rainfall in southern Russia push US benchmark prices for the grain to an eight-month high.
  • WXRISK.COM ‏SUMMER FORECAST UPDATE- new CFS plots show El Nino develops LATE- SEPT /OCT so current pattern /trends may last into ALL of JULY- early AUG.
  • WXRISK.COM ‏SUMMER FORECAST#2 -- NEW CFS model plots for JUNE & JULY look MUCH Hotter & MUCH drier for Plains/ Midwest. Huge change from late APRIL

Saturday, May 12, 2012


  • Intel approved a 7% increase in the quarterly cash dividend to 22.5 cents per share, 90 cents per share on an annual basis.

  • Walt Disney (DIS) quarterly earnings beat Wall Street expectations as profit rose 21%.

  • Poland raised rates to 4.75%

  • Brazil’s CPI rose 5.1% YoY

  • Modern Banker JPMorgan, celebrated for its “controls”, said it lost $2 Billion “in six weeks” because of poor controls – quite the feat - more to disclose? Mr. Dimon recently responded to a question about too big to fail as “infantile” and “nonfactual.” (If only Glass-Steagall were still around!)
  • The U.S. has made "considerable progress" in restoring its banking system since the financial crisis, said  Bernanke. (If only Glass-Steagall were still around!)
  • S&P cuts outlook on J.P. Morgan Chase to negative, citing risk management  (If only Glass-Steagall were still around!)

  • China's consumer price index (CPI) rose 3.4% YoY in April
  • China’s consumer confidence stood at 86.65 in April, down 0.12% points from March.
  • China will lower the bank reserve requirement ratio by 0.5% starting May 18. The cut, the second of its kind this year, this will drop the RRR for the country's large financial institutions to 20% and the medium- and small-sized financial institutions to 16.5%.

  • Gasoline stocks fell2.6 million barrels.
  • Distillate stocks decreased 3.3 million barrels
  • Ethanol stocks fell to 21.4 million barrels, down from 22.2 million the previous week

  • USDA estimates soybean stocks to use at 4.4%. This is equivalent to two weeks' worth of use, and the lowest stocks-to-use figure since 1965-66.

  • Home Inns (HMIN) revenues rose 66.0% YoY

  • FDA advisers recommended approval of Arena’s (ARNA) lorcaserin -- could be first new weight loss drug in a decade.

  • Spain's annual inflation rose to 2% in April, up from 1.8% in the previous month
  • At least 100,000 Spaniards angered by grim economic prospects and the political handling of the international financial crisis turned out for street demonstrations. 
  • Spanish banks have been given 15 days to submit plans to meet an obligatory €30bn recapitalisation, or face nationalisation.

  • The top U.S. grain groups on Thursday called for federal regulators to delay the start of 22-hour grains trading at CME Group and rival (ICE) Intercontinental Exchange.

  • (TEF) Telefonica posted a net profit of EUR748 million in Q1, down 54% from EUR1.62 billion in the same period a year earlier, missing forecasts of EUR1.31 billion.

  • China’s gold output in the first three months of the year reached 80.8 tonnes, up 10% YoY.

  • The U.S. consumer sentiment index rose to a new post-recession high of 77.8

  • Chinese ratings provider Dagong Global Credit Rating Co. said Friday that it upgraded the local and foreign currency sovereign credit rating of Greece from D to CC with a negative outlook.

Sunday, May 06, 2012


  • Berkshire Hathaway Warren Buffett's company said Friday its first-quarter profit more than doubled.

  • Euro-zone unemployment rose to a new 15-year high of 10.9% U.S. factory orders fell 1.5% in March

  • Steve Wozniak, a co-founder of Apple, describes the Nokia Lumia screen as "much more beautiful" than that of the iPhone and Android phones.   ( Comparison )

  • Australia cuts interest rate by larger-than-expected half-point to 3.75%

  • Indonesia’s Inflation Accelerates to Seven-Month High of 4.5%

  • U.S Crude oil stocks rose 2.8 million barrels in the week ending April 27.
  • Gasoline stocks fell 2.0 million barrels.
  • Distillate stocks fell 1.9 million barrels.

  • Bloomberg: The U.S. homeownership rate fell to the lowest level in 15 years in the first quarter as borrowers lost homes to foreclosure and tighter inventory and credit kept buyers off the market. The rate dropped to 65.4 percent from 66 percent in the fourth quarter and fell a full percentage point from a year earlier, the Census Bureau said in a report . That is the lowest level since the first quarter of 1997, and down from a record 69.2 percent in June 2004.

  • The CME announced, that beginning May 13 for trade date May 14, customers will have expanded access to CBOT corn, soybeans, wheat, soybean meal and soybean oil futures and options on CME. Globex as follows: •Sunday to Monday, 5:00 p.m. to 4:00 p.m. CT •Monday to Friday, 6:00 p.m. to 4:00 p.m. CT. (Hell, they could lose 5 cents to the ICE) Change in plans (CME f/u) will be delayed by one week to May 21.

  • “The Scream" sells for record $119.9 million at Sotheby's auction, far exceeding $80 million estimate. ( Somebody is smiling )

  • In reference to Mr. Obama’s remarks regarding speculators. "People need to study their facts before criticizing speculators," said Mr. Duffy, whose Chicago Company is the largest futures exchange, said in an interview. He pointed out “correctly” that speculators provide vital liquidity to a host of markets.

  • AIG net income rose to $3.2 billion, or $1.71 a share, in the three months that ended March 31.

  • (Guardian) seven in ten Americans now believe that "global warming is affecting the weather." 35 % of the respondents reported that extreme weather had affected them personally in 2011.

  • Japan's last active reactor has shut down, leaving the country without nuclear energy for the first time since 1970. All 50 commercial reactors in the country are now offline. LNG Heading for Asia?