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Business/Economy (News/Activism)

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  • North Charleston settles with Walter Scott’s family for $6.5M

    10/09/2015 12:00:25 AM PDT · by TigerClaws · 6 replies
    NORTH CHARLESTON, S.C. — A city in South Carolina approved a $6.5 million settlement Thursday with the family of an unarmed black man shot to death earlier this year by a white police officer. The North Charleston City Council approved the settlement by a 10-0 vote, and members of Walter Scott’s family were on hand when it was announced.
  • Gun sales hit a record high for the fifth month in a row

    10/08/2015 11:29:49 PM PDT · by TigerClaws · 8 replies
    Maine Maritime Academy students bow their heads during a vigil of hope for the missing crew members of the U.S. container ship El Faro, Tuesday evening, Oct. 6, 2015, in Castine, Maine. How doomed US ship met its end Indianapolis Colts running back Frank Gore (23) runs for a third quarter touchdown against the Houston Texans at NRG Stadium on Oct. 8, 2015 in Houston. Johnson has 2 TD receptions, leads Colts over Texans 27-20 The FBI conducted 1,795,102 firearm background checks through the National Instant Criminal Background Check System (NICS) in September, suggesting gun sales were at an all-time...
  • Watchdog Says Report of 10,000 Toddlers on ADHD Drugs Tip of the Iceberg..

    10/08/2015 11:25:20 PM PDT · by TigerClaws · 13 replies
    FULL TITLE: Watchdog Says Report of 10,000 Toddlers on ADHD Drugs Tip of the Iceberg—274,000 0-1 Year Olds and 370,000 Toddlers Prescribed Psychiatric Drugs Mental health watchdog Citizens Commission on Human Rights says a new report issued by the Centers for Disease Control and Prevention (CDC) on the 10,000 toddlers being prescribed ADHD drugs, is only the tip of the iceberg regarding children being prescribed psychiatric drugs in the U.S. According to IMS health, more than 274,000 0-1 year olds are being prescribed psychiatric drugs and a staggering 370,000 toddlers.
  • Israel's Spacecom signs deal with Facebook to provide internet service

    10/08/2015 9:17:43 PM PDT · by jonatron
    Israeli Broadcast Authority ^ | 7/10/2015 | Staff
    Spacecom plans to launch the Amos-6 satellite during the second half of 2016. It will replace the older Amos-2 satellite. The deal is worth about 100 million dollars for the Israeli company and runs through 2021. Facebook CEO Mark Zuckerberg wrote in a post that as part of his company's collaboration with Eutelsat, a new satellite called AMOS 6 is going to provide Internet coverage to large parts of sub-Saharan Africa. Zuckerberg said that the deal is part of his company's efforts to connect the entire world. According to Spacecom president and CEO David Pollack, an estimated 14 million users...
  • BP wins two Iranian oilfield development projects: source

    10/08/2015 8:31:40 PM PDT · by jonatron · 5 replies
    The Tehran Times ^ | 10/8/2015 | Tehran Times Economic Desk
    TEHRAN - Iran has left the development of two oilfields to the energy giant British Petroleum (BP), an informed source told the Tasnim News Agency on the condition of anonymity. The announcement is a follow-up to the September meeting between Iranian Oil Ministry officials and BP top managers, where the Iranian side headed by Amir Hossein Zamani Nia, the deputy oil minister for international affairs and trade, agreed to transfer the development of two oilfields to BP based on the new model of Iranian oil contracts, known as Integrated Petroleum Contract (IPC), which is due to be unveiled soon. ---snip---...
  • Credit Suisse Prepares Substantial Capital Raising

    10/08/2015 7:00:54 PM PDT · by nickcarraway · 5 replies
    Financial Times ^ | October 8, 2015 | Patrick Jenkins, Ralph Atkins
    Tidjane Thiam, Credit Suisse’s new chief executive, is preparing to launch a substantial capital raising when he unveils his strategic plan for the bank in two weeks’ time, according to people briefed on the plan. While not specifying an amount, they pointed to a poll published last week by analysts at Goldman Sachs concluding that 91 per cent of investors expect the Swiss bank to raise more than SFr5bn in new equity. The move follows a warning by Deutsche Bank that it was set to scrap its dividend for the first time since the second world war after it incurred...
  • Study: Government Workers Make 78 Percent More Than Private Sector

    10/08/2015 12:41:44 PM PDT · by TigerClaws · 24 replies
    Employees for the federal government earn far more than their counterparts in the private sector, according to a new study by the Cato Institute. Federal workers’ pay and benefits were 78 percent higher than private employees, who earned an average of $52,688 less than public sector workers last year. The study found that federal government workers earned an average of $84,153 in 2014, compared to the private sector’s average of $56,350. Cato based its findings on figures from the U.S. Bureau of Economic Analysis (BEA).
  • Controversy erupts over 'Black labs matter' sign in front of barbershop

    10/08/2015 12:24:11 PM PDT · by TigerClaws · 54 replies
    A sign outside Tom's Barbershop that says "Black labs matter" and suggests supporting the MSPCA is getting a strong reaction in Norton, Massachusetts. But barber Tom Stevens says humor is his way of life. "It's just a sign, it's a way to have fun, it's a way to reach out, it's a way to tell people I'm here," he said.
  • Walker says Zoo Interchange savings could keep other projects on track (WI)

    10/08/2015 11:47:18 AM PDT · by afraidfortherepublic · 7 replies
    Milwaukee Journal Sentinel ^ | 10-8-15 | Jason Stein
    Stoughton — Gov. Scott Walker Thursday promised savings on the massive Zoo Interchange project in Milwaukee and urged lawmakers to release $150 million in borrowing for road projects, saying together those two steps would be enough to keep at least five major highway projects from facing delays. In other remarks Thursday, Walker said that he could appoint a new justice to the Wisconsin Supreme Court by the end of this week and that he also favored clearer rules on which bathrooms can be used by transgender students in public schools. Walker's administration announced last week it was delaying the five...
  • IMF warns emerging market companies have overborrowed $3 trillion

    10/08/2015 11:17:19 AM PDT · by Lorianne · 6 replies
    Reuters ^ | 07 October 2015
    Emerging market companies have an estimated $3 trillion in overextended loans that threaten to trigger a sharp credit crunch and capital outflows in economies that have already been hit hard by low commodity prices, the International Monetary Fund said on Wednesday. The IMF warned that a messy withdrawal of stimulus measures in advanced economies could start a "vicious cycle of fire sales, redemptions, and more volatility." The U.S. Federal Reserve has said it is on track to raise rates for the first time in almost a decade by the end of this year. Overborrowing in emerging market economies likely adds...
  • Exports down to record low in Germany

    10/08/2015 11:13:11 AM PDT · by Lorianne · 13 replies
    Deutsche Welle ^ | 08 October 2015 | gb/ca, dpa/afpd
    German exports for the month of February have plummeted to their lowest level since 1950, following a similar decline in January. The drop means Europe's largest economy will contract more than expected. According to the latest figures published on Wednesday by the Federal Statistics Office, exports fell 23.1 percent to just under 65 billion euros in February, compared to the same period last year. This follows a similarly precipitous drop of 23.2 percent in January. The two-month decline is the worst since World War II. Imports also dropped 16.4 percent to 56.2 billion euros compared to a year ago. The...
  • Monsanto to Cut 2,600 Jobs in Restructuring

    10/08/2015 11:08:25 AM PDT · by Lorianne · 4 replies
    Wall Street Journal ^ | 07 October 2015 | Jacob Bunge
    Biotech seed giant also gives a downbeat forecast for its fiscal year, as quarterly loss widens ___ Monsanto Co. , buffeted by a slumping global farm economy, outlined plans to slash 12% of its workforce and restructure its business as it reported a larger quarterly loss. The biotechnology-seed maker plans to cut 2,600 jobs while “streamlining and reprioritizing” commercial and research efforts as it grapples with declining crop prices that have pinched incomes for farmers, its main customers. Monsanto projected earnings in its fiscal 2016 that fell below analysts’ expectations. The St. Louis company also Wednesday unveiled a new stock-buyback...
  • Underground fire 300 meters from nuclear waste causes St. Louis to hatch contingency plan

    10/08/2015 10:34:34 AM PDT · by Lorianne · 13 replies
    Japan Times ^ | 08 October 2015
    ST. LOUIS – Beneath the surface of a St. Louis-area landfill lurk two things that should never meet: a slow-burning fire and a cache of Cold War-era nuclear waste, separated by just 300 meters. Government officials have quietly adopted an emergency plan in case the smoldering embers ever reach the waste, a potentially “catastrophic event” that could send up a plume of radioactive smoke over a densely populated area near the city’s main airport. Although the fire at Bridgeton Landfill has been burning since at least 2010, the plan for a worst-case scenario was developed only a year ago and...
  • Deutsche Bank Forecasts a Loss of Nearly $7 Billion, Taking an Array of Charges

    10/08/2015 10:29:17 AM PDT · by Lorianne · 7 replies
    New York Times ^ | 07 October 2015 | Peter Eavis
    Deutsche Bank, the giant German bank that has a big presence on Wall Street and is facing much regulatory scrutiny in the United States, on Wednesday warned that it expects to post a hefty loss in the third quarter. The bank, Germany’s largest, forecast a net loss of 6.2 billion euros, or nearly $7 billion, for the quarter. It comes just months into the tenure of Deutsche Bank’s new co-chief executive, John Cryan, who is trying to overhaul the institution. Along with the scandal and upheaval at Volkswagen, Deutsche’s struggles point to some of the weaknesses of Germany’s corporate culture....
  • Sturm: The Pope and Sanders: Misguided economic missionaries

    10/08/2015 8:47:05 AM PDT · by LibertysWordsmith · 1 replies
    The Aspen Times ^ | October 8, 2015 | Melanie Sturm
    If only Pope Francis were in my Buenos Aires taxi last Christmas. I could have used his moral authority (and Argentine-accented Spanish) in negotiating with a driver who’d forgotten the Golden Rule. And in witnessing my struggle, the self-described “very allergic to economics” pontiff might have gleaned a moral lesson, helping him Think Again about the free-enterprise system he’s criticized.
  • Despite Surging Job Cuts, Initial Jobless Claims Tumble Back Near 42 Year Lows

    10/08/2015 7:47:59 AM PDT · by SeekAndFind · 14 replies
    Zero Hedge ^ | 10/08/2015 | Tyler Durden
    Job cuts have already surpassed  last year's total, according to Challenger, Gray & Christmas with the highest annual total since 2009, when nearly 1.3 million layoffs were announced at the tail-end of the recession... so how does the government explain the fact that initial jobless claims have once again re-tumbled back to close to 42-year lows... Initial claims dropped 13k this week to 263k - just shy of the lowest levels sicne 1973... As Job cuts soar... One of these is lying...   The third quarter ended with a surge in job cuts, as U.S.-based employers announced plans to shed 58,877 in...
  • Why We’re Never Moving Away from Income Inequality: A few thoughts on a futile project

    10/08/2015 7:25:34 AM PDT · by SeekAndFind · 7 replies
    National Review ^ | 10/08/2015 | Kevin D. Williamson
    One of the weird little facts of life that we don’t think about or talk about very much — and really should when we’re talking about taxes, the minimum wage, welfare spending, and other things related to inequality of income and wealth (and go ahead and picture me here manfully resisting the urge to put sneer quotes around “inequality,” as if a uniform distribution of material resources were the natural state of things and not some daft dorm-room fantasy) — is that we pay for everything (really, everything) collectively. Let me show you what I mean. Housing is famously expensive...
  • NOVA Firearms Faces Backlash For Location Near School [DC-Northern Virginia]

    10/08/2015 7:22:42 AM PDT · by Timber Rattler · 20 replies ^ | October 7, 2015 | Isbella Diaz
    The McLean Citizens Association (MCA) Board will have a meeting Wednesday evening to discuss the current predicament involving a new gun shop and a local elementary school. Franklin Sherman Elementary School is located right behind the newly-opened NOVA Firearms in McLean. Local community members started protesting the gun store soon after its open. Some parents claim they are even pulled their kids out of school as a result of threats they received because of the protests. NOVA Firearms owner James Gates said the shop officially opened up about two weeks ago to about 120 protesters. Even so, Gates said the...
  • Rupert Murdoch: Ben Carson Would Be a "Real Black President"

    10/07/2015 6:54:41 PM PDT · by Helicondelta · 44 replies ^ | October 07, 2015
    Rupert Murdoch once again has no problem making potentially incendiary comments on Twitter. The 21st Century Fox chief took to Twitter on Wednesday to compare GOP presidential candidate Ben Carson to current president Barack Obama. "Ben and Candy Carson terrific," Murdoch wrote about the candidate and his wife. "What about a real black President who can properly address the racial divide? And much else." This is not the first time that Murdoch has praised Carson on Twitter. Murdoch has also previously been critical of Donald Trump, with the real estate mogul feuding with Fox News of late.
  • What happened to Minnesota’s education system?

    10/08/2015 6:55:35 AM PDT · by TigerClaws · 31 replies
    Traditionally, Minnesota has been considered one of the top states in which to get a K-12 public education. The latest numbers regarding reading and math proficiency from the state’s Department of Education, though, serve as a warning that not all is well in the land of 10,000 lakes. Below is a chart using data from the Minnesota Department of Education that gives a high-level perspective of how students are doing in the state:
  • China's Little-Noted Rage Against TPP

    10/08/2015 4:29:12 AM PDT · by expat_panama · 13 replies
    Investors Busniness Daily ^ | 10/07/2015 | Editorial
    Free Trade: As U.S. demagogues and presidential candidates bluster against the Trans-Pacific Partnership trade pact as a boon to China, the very same China, in a far colder fury, is sharpening its claws in a bid to kill it. The irony of this disconnect is incredible. About the same time presidential candidate Donald Trump was condemning the just-negotiated 12-nation TPP as "terrible" on Fox News because China might some day be able to join it, the South China Morning Post changed the banner headline on its website to: "It's not checkmate yet: Beijing to counter US-led Trans-Pacific Partnership trade pact."...
  • Gannett Co. acquires Midwest, South newspapers for $280M

    10/08/2015 4:08:02 AM PDT · by Timber Rattler · 8 replies
    The Washington Post ^ | October 7, 2015 | Greg Moore 
    Gannett Co. has reached an agreement to acquire newspaper company Journal Media Group for $280 million, giving the media giant control of publications in more than 100 local markets in the U.S., company officials announced Wednesday evening. Journal Media publications dot the Midwest and South and include the Milwaukee Journal-Sentinel, Memphis (Tennessee) Commercial-Appeal and Knoxville (Tennessee) News Sentinel. Industry experts say the publications are a natural fit for Gannett’s strategy of maximizing short-term profits through managing the decline of publications in less competitive markets.
  • Got Incompetence? The Federal Gov't Has Misled Public About Milk For Decades

    10/08/2015 3:18:52 AM PDT · by RockyTCB · 70 replies
    Investor's Business Daily ^ | 10/7/2015 | John Merline
    If you look up "whole milk" in the government's official Dietary Guidelines, it states pretty definitively that people should only drink skim or 1% milk. "If you currently drink whole milk," it says, "gradually switch to lower fat versions." This is the same advice the government has been issuing for many years. And it's wrong
  • Gannett Co. acquires Midwest, South newspapers for $280M

    10/07/2015 10:53:32 PM PDT · by Zakeet · 8 replies
    Washington Post ^ | October 7, 2015 | Greg Moore
    Gannett Co. has reached an agreement to acquire newspaper company Journal Media Group for $280 million, giving the media giant control of publications in more than 100 local markets in the U.S., company officials announced Wednesday evening. Journal Media publications dot the Midwest and South and include the Milwaukee Journal-Sentinel, Memphis (Tennessee) Commercial-Appeal and Knoxville (Tennessee) News Sentinel. Industry experts say the publications are a natural fit for Gannett’s strategy of maximizing short-term profits through managing the decline of publications in less competitive markets. [Snip] Journal Media Group was formed earlier this year, after Journal Communications Inc. of Milwaukee and...
  • Most Americans have less than $1,000 in savings

    10/07/2015 9:08:27 PM PDT · by TigerClaws · 30 replies
    Americans are living right on the edge — at least when it comes to financial planning. Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account, according to a new survey of more than 5,000 adults conducted this month by Google Consumer Survey for personal finance website “It’s worrisome that such a large percentage of Americans have so little set aside in a savings account,” says Cameron Huddleston, a personal finance analyst for the site. “They likely don’t have cash reserves to cover an emergency and will have to...
  • El Faro Search Ended At Sunset

    10/07/2015 8:55:00 PM PDT · by rockinqsranch · 50 replies
    CNN ^ | Wednesday October 7, 2015 | Mariano Castillo, Holly Yan, Eliott C. McLaughlin and Steve Almasy
    "The U.S. Coast Guard said it called off its nearly weeklong search for the missing mariners of the El Faro at sunset Wednesday."
  • Feds push forward with controversial health rule

    10/07/2015 8:42:28 PM PDT · by Tolerance Sucks Rocks · 26 replies
    The Hill ^ | October 6, 2015 | Sarah Ferris
    The Obama administration is moving ahead with controversial new rules that require doctors to switch to electronic health records or face fees, resisting calls from both parties to delay implementation. Federal health officials said the final rules released Tuesday will make “significant changes" in the "meaningful use" electronic health records program, such as lowering the number of standards each provider must meet and allowing providers to apply for hardship exemptions. But the administration will not delay what it calls "Stage 3" of the records program, a move that is already angering vocal Republicans like Sen. Lamar Alexander (R-Tenn.), who have...
  • What No One Seems to Know About Ted Cruz’s Past

    10/07/2015 8:22:07 PM PDT · by Impala64ssa · 49 replies
    PJ Media ^ | 9/30/15 | Asheesh Agarwal and John Delacourt
    Cruz was once a director at the Federal Trade Commission. He had a remarkable record of convincing Democrats to vote for conservative principles. In his first significant leadership role — as president of the Screen Actors Guild — Ronald Reagan fought communist influence in Hollywood and prevailed in a tough contract negotiation. In his first command — as a captain during the Black Hawk War — Abraham Lincoln overruled his men to prevent the execution of a suspected Potawotami spy. To win his first congressional race, Richard Nixon disingenuously linked his opponent to communist sympathizers, the start of a pattern...
  • Obama Prepares Give-Away of White-Collar Jobs And Citizenship To Foreign Graduates

    10/07/2015 8:00:06 PM PDT · by bushwon · 37 replies
    Breitbart ^ | September 28, 2015 | Neil Munro
    President Barack Obama’s deputies are quietly hacking a gap through immigration regulations to allow them to import hundreds of thousands of university-trained foreign workers for jobs sought by American college grads. “They’re bending immigration law until it almost breaks,” says Ian Smith, a lawyer at the Immigration Reform Law Institute. The Obama-hack, he added, should be fixed by Congress or a judge The regulatory hack is part of Obama’s broad immigration-boosting alliance with Fortune 500 Companies and the GOP’s establishment. In 2013 and 2014, most — but not all — of his prior amnesty and immigration plans were blocked by...
  • Hackers Breached LoopPay, Whose Tech Is Central to Samsung Pay (Chicom)

    10/07/2015 6:41:11 PM PDT · by TigerLikesRooster · 1 replies
    Hackers Breached LoopPay, Whose Tech Is Central to Samsung Pay By NICOLE PERLROTH and MIKE ISAAC OCT. 7, 2015 WASHINGTON — Months before its technology became the centerpiece of Samsung’s new mobile payment system, LoopPay, a small Massachusetts subsidiary of the South Korean electronics giant, was the target of a sophisticated attack by a group of government-affiliated Chinese hackers. As early as March, the hackers — alternatively known as the Codoso Group or Sunshock Group by those who track them — had breached the computer network of LoopPay, a start-up in Burlington, Mass., that was acquired by Samsung in February...
  • Ted Cruz 1, Sierra Club 0

    10/07/2015 4:51:13 PM PDT · by Isara · 25 replies
    Houston Chronicle ^ | October 7, 2015 | Eric Berger
    Climate change is real. Climate change is happening. And we have an obligation to address climate change for ourselves, our children and future generations. With that said, the Sierra Club needs to do better. During a hearing of a Judiciary subcommittee on Tuesday regarding regulation and minorities, Texas Sen. Ted Cruz, who is running for the Republican nomination on an arch-conservative platform that includes rejection of mainstream climate change science, seized an opportunity to show off his debating skills. ... ..He asks Mair about the satellite temperature record, which he says has shown no warming during the last 18 years....
  • Obama: Customers will accept paying more for higher minimum wage

    10/07/2015 4:40:35 PM PDT · by markomalley · 95 replies
    Washington Examiner ^ | 10/7/15 | Sean Higgins
    President Obama said Wednesday that consumers would be OK paying higher prices if they knew it was the result of an increase in the national minimum wage. He argued that there was therefore no practical reason for anyone to oppose a hike. "I think that most of us are price-sensitive. We're not looking to over-pay. On the other hand, I'll bet that a lot of folks here, if they go to a restaurant, and they know that the people working there are making a living wage, the fact that they may be paying an extra dollar for a burger, would...
  • Former Employee: Planned Parenthood ‘More Concerned About Its Bottom Line’ Than Women’s Health

    10/07/2015 4:26:39 PM PDT · by markomalley · 4 replies
    Daily Signal ^ | 10/7/15 | Kate Scanlon
    Sue Thayer, a former facility director for Planned Parenthood of the Heartland, will testify against her former employer before the House Judiciary Committee on Thursday.In prepared remarks, Thayer alleges that the nation’s largest abortion provider “is more concerned about its bottom line than it is about the health and safety of women.”“No business, certainly no healthcare clinic, should view a woman’s body as a profit center, yet that is exactly what Planned Parenthood does,” Thayer wrote.Thayer said that she began working for Planned Parenthood because she wanted to serve her community.“As an adoptive parent of three children and a foster...
  • Toyota Unsure How Islamic State Has Obtained So Many Pick-Up Trucks

    10/07/2015 3:01:11 PM PDT · by markomalley · 51 replies
    Washington Free Beacon ^ | 10/7/15 | Morgan Chalfant
    Officials in the Terror Financing unit of the U.S. Treasury Department are probing how the Islamic State has obtained a large number of Toyota vehicles, asking the automaker to help determine how the terror group came to possess the pick-up trucks and SUVs.Toyota Hilux pick-up trucks and Land Cruisers have become prevalent in propaganda videos published by the Islamic State (IS, also known as ISIL or ISIS) that show the terror group moving through Syria and Iraq and into Libya.ABC News reported that Toyota claims that it does not know how IS obtained the vehicles but is “supporting” the probe,...
  • House Dems: Oversight Committee Should ‘Apologize’ to Planned Parenthood

    10/07/2015 2:59:27 PM PDT · by markomalley · 12 replies
    CNS News ^ | 10/7/15 | Lauretta Brown
    Reps. Chris Van Hollen (D-Md.), Rosa DeLauro (D-Conn.), and Louise Slaughter (D-N.Y.) released a letter Tuesday evening to House Speaker John Boehner, saying that the House Oversight and Government Reform Committee should “extend an apology” to Planned Parenthood President Cecile Richards for “ideologically based personal attacks” in the committee’s hearing investigating the organization last week. They told Boehner that they “sincerely hope” that he directs the chairs of House Committees to “refrain from conducting this type of hearing in the future and to abandon any thought of establishing a Subcommittee to pursue these allegations that the Chairman of the Oversight...
  • Ted Cruz hammers overregulation, tangles with Sierra Club chief over climate science

    10/07/2015 1:56:54 PM PDT · by Isara · 17 replies
    Dallas Morning News ^ | October 6, 2015 | Todd J. Gillman
    WASHINGTON – Overregulation robs minority Americans of opportunity, Sen. Ted Cruz argued Tuesday at a Senate hearing that did double duty as a platform to critique the administration and to amplify his own campaign themes. “Fighting for economic opportunity is why I ran for office,” Cruz said after the hearing, citing his “opportunity conservative” philosophy that focuses on “easing the means of ascent up the economic ladder.” ... “They seemingly regulate everything under the sun,” Cruz said. Federal regulation has exploded in the last half-century, he said, from 20,000 pages to 175,000, “all in incredibly small print” that no individual...
  • Chinese money flows into US housing

    10/07/2015 1:00:30 PM PDT · by Lorianne · 11 replies
    CNBC ^ | 06 October 2015 | Diana Olick
    From sunny suburban developments in Irvine, California, to shiny new condominium towers overlooking Manhattan's skyline, Chinese buyers are sinking cash into U.S. residential real estate. Chinese are now the top foreign buyers of domestic properties, according to the National Association of Realtors, and nearly half of them are paying cash, according to RealtyTrac, a real estate sales and analytics company. Forty-six percent of Chinese buyers paid cash for their U.S. homes so far in 2015, up 229 percent from a decade ago. Compare that to a 33 percent cash share for buyers overall, up 65 percent from a decade ago....
  • Saudi Arabia cuts oil prices amid OPEC price war

    10/07/2015 12:50:47 PM PDT · by Lorianne · 30 replies
    Market Watch ^ | 04 October 2015 | Benoit Faucon
    Saudi Arabia on Sunday made deep reductions to the prices it charges for its oil, hard on the heels of cuts last month by rival producers in the Gulf. With U.S. production still increasing despite lower oil prices, members of the Organization of the Petroleum Exporting Countries are battling to keep their share of the last growing markets in Asia. In a list of official prices sent to customers, state-oil company Saudi Aramco cut the price of its light-crude deliveries to Asia by $1.7 a barrel. As a result, it switched to a discount of $1.6 a barrel against the...
  • Air France workers rip shirts from executives after airline cuts 2,900 jobs

    10/07/2015 12:02:52 PM PDT · by Lorianne · 21 replies
    Guardian UK ^ | 05 October 2015 | Kim Willsher
    Striking staff at Air France have taken demonstrating their anger with direct action to a shocking new level. Approximately 100 workers forced their way into a meeting of the airline’s senior management and ripped the shirts from the backs of the executives. The airline filed a criminal complaint after the employees stormed its headquarters, near Charles de Gaulle airport in Paris, in what was condemned as a “scandalous” outbreak of violence. Photographs showed one ashen-faced director being led through a baying crowd, his clothes torn to shreds. In another picture, the deputy head of human resources, Xavier Broseta, left bare-chested...
  • Big U.S. firms hold $2.1 trillion overseas to avoid taxes: study

    10/07/2015 11:59:27 AM PDT · by Lorianne · 16 replies
    Reuters ^ | 06 October 2015
    The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they repatriated the funds, according to a study released on Tuesday. The study, by two left-leaning non-profit groups, found that nearly three-quarters of the firms on the Fortune 500 list of biggest American companies by gross revenue operate tax haven subsidiaries in countries like Bermuda, Ireland, Luxembourg and the Netherlands. The conglomerate General Electric has booked $119 billion offshore in 18 tax havens, software firm Microsoft is holding $108.3 billion...
  • California governor signs aggressive climate change bill

    10/07/2015 11:27:37 AM PDT · by Olog-hai · 25 replies
    Associated Press ^ | Oct. 7, 2015 2:19 PM EDT | Michael R. Blood and Judy Lin
    California Gov. Jerry Brown signed an ambitious bill on Wednesday to combat climate change by increasing the state’s renewable electricity use to 50 percent and doubling energy efficiency in existing buildings by 2030. Brown approved the measure after losing a political battle against oil interests as he also tried to cut petroleum use by half in the state. […] Many moderate Democrats were concerned that the petroleum mandate would hurt California’s working-class residents. The lawmakers sought greater oversight of state regulators, but Brown refused to give up what he viewed as executive authority. …
  • Obama calls on nation to ‘refashion the social compact,’ strengthen labor union powers

    10/07/2015 11:26:18 AM PDT · by jazusamo · 28 replies
    The Washington Times ^ | October 7, 2015 | Ben Wolfgang
    President Obama on Wednesday called on U.S. business, labor and political leaders to “refashion the social compact” and strengthen union powers across the country, arguing that the troubling trend of declining middle-class wages can be turned around by redefining the basic principles of workers’ rights. During a speech at a White House summit on working Americans, the president drew a direct link between drops in union membership and the stagnation of most workers’ wages. Mr. Obama also said that workers’ anxiety about their job security and whether they’ll be afford to feed their families contributes to “anti-immigration sentiment” and other...
  • Obama cites labor’s role in US economy amid trade rift

    10/07/2015 11:10:27 AM PDT · by Olog-hai · 3 replies
    Associated Press ^ | Oct. 7, 2015 1:28 PM EDT
    President Barack Obama says labor laws should be strengthened and it should be easier for workers to join unions. Obama made the comments at a White House workers’ summit on Wednesday—just as there’s a rift with labor over a Pacific Rim trade agreement. …
  • Who Charges Higher Fees – Islamic or Conventional Banks?

    10/07/2015 10:47:09 AM PDT · by nickcarraway · 9 replies
    Emirates 24/7 ^ | Tuesday, October 06, 2015 | Waheed Abbas
    Except auto finance, conventional lenders dominate the other segments of banking industry More UAE residents believe that Islamic banks transactions fees are lower than their conventional rivals, according to a survey published yesterday. Around 25 per cent residents believe that Shariah-compliant banks offer lower transaction fees as compared to 21 per cent for the conventional lenders. Conducted by Dubai-based Emirates Islamic bank, the survey results showed that more UAE residents opt for Islamic banks when it comes to auto finance rather than the conventional banks while in all other categories they prefer the latter. Around 52 per cent residents...
  • Company Stampede to Southeast Asia Seen on Trade Pact[TPP]

    10/07/2015 10:19:00 AM PDT · by Theoria · 11 replies
    WSJ ^ | 07 Oct 2015 | Jake Maxwell Watts, Kathy Chu and Celine Fernandez
    Vietnam and Malaysia growth depends heavily on external trade Even before the ink is dry on the Trans-Pacific Partnership trade deal, companies are laying out plans to expand in Vietnam and Malaysia, both rapidly developing Asian nations whose growth depends heavily on external trade.Manufacturers of apparel, rubber gloves and bikes are among those considering increasing production in the Southeast Asian countries to capitalize on export growth expected from the accord, which sweeps away tariffs to markets including the U.S., the world’s biggest economy.The mammoth trade agreement is seen as a game-changer for these national economies, according to an analysis by...
  • Kanye West Thinks Fashion Discriminated Against Him for Not Being Gay

    10/07/2015 10:13:10 AM PDT · by nickcarraway · 42 replies
    Billboard ^ | October 07, 2015 | Erin Strecker
    Kanye West is sharing some thoughts about breaking into the fashion industry. "I feel like I got discriminated in fashion for not being gay," he said during an interview with SHOWstudio on Tuesday. "In music, you definitely get discriminated in music if you are gay. It takes amazing talents to break down barriers. Everyone thought that when Frank Ocean dropped that it was going to be bad for his career. I feel like it’s so cliché to speak about him as it relates to this subject, but there are people who broke the ground and he broke the ground. The...
  • Gasoline prices expected to spike says fuel prices could spike within a week anywhere from 10 to 30 cents a gallon, and they could stay higher for several weeks. Its analysts are blaming aging refineries for unplanned repairs. When those happen, often the oil companies will tackle maintenance issues, too.
  • The Nuclear Option: ‘Teflon Don’ Morphs into a Real Candidate

    10/07/2015 9:00:22 AM PDT · by Rockitz · 63 replies ^ | 7 Oct 2015 | Charles Hurt
    First they ignored him. Then they mocked him. Then they tried tearing him down. With each failure to destroy Donald Trump, the political experts and establishment stooges only made him stronger. And now they don’t have a clue what to do. Those in Washington who still think a Donald Trump presidency is preposterous or absurd have only themselves to blame for creating an environment that has made it so easy for the swashbuckling, smack-talking businessman to rise so effortlessly to the top of the heap. It turns out that not only does the man enjoy very high energy, he also...
  • America’s ‘Tech Exec Savior': Marco Rubio Promotes H-1B, Immigration Platform to Supporters

    10/07/2015 8:50:31 AM PDT · by ConservingFreedom · 31 replies
    Breitbart ^ | 7 Oct 2015 | Adelle Nazarian
    [...] Rubio went on to tell the crowd of his plan for the tripling of H-1B visas for skilled workers, which he hopes to achieve by seeing the passage of his bipartisan I-Squared (Immigration Innovation) bill which would be responsible for the outsourcing of even more American jobs to the immigrants who hold them.The I-Squared bill has received tremendous backing from tech giants like Mark Zuckerberg of Facebook, Larry Ellison of Oracle and Bob Iger of Disney. Zuckerberg’s lobbying arm has also played a key role in pushing for these H-1B reforms. President Todd Schulte recently falsely suggested that “for every H-1B visa...
  • Once the Biggest Buyer, China Starts Dumping U.S. Government Debt

    10/07/2015 8:36:10 AM PDT · by Enlightened1 · 13 replies
    The Wall Street Journal ^ | 10/07/15 | Min Zeng And Lingling Wei
    Central banks around the world are selling U.S. government bonds at the fastest pace on record, the most dramatic shift in the $12.8 trillion Treasury market since the financial crisis. Sales by China, Russia, Brazil and Taiwan are the latest sign of an emerging-markets slowdown that is threatening to spill over into the U.S. economy. Previously, all four were large purchasers of U.S. debt. Few analysts expect much higher yields in the Treasury market as a result. Foreign private purchases of U.S. debt have increased amid pessimism about the world economic outlook. U.S. firms and financial institutions continue to buy...