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Articles Posted by John W

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  • All major indexes in correction, off more than 2%

    09/01/2015 9:51:15 AM PDT · by John W · 16 replies
    cnbc.com ^ | September 1, 2015 | Evelyn Cheng & Jenny Cosgrave
    U.S. stocks fell nearly 2 percent or more on Tuesday, the first day of trade for September, as weak Chinese data pressured global markets. The Dow Jones industrial average traded about 400 points lower, still in correction, after briefly falling more than 425 points. The Nasdaq composite wiped out gains for 2015 and struggled to stay out of correction. The index traded about 2 percent lower, while the S&P 500 fell more than 2 percent and was briefly in correction territory.
  • The US economy's second quarter went from solid to stellar

    08/27/2015 4:20:59 PM PDT · by John W · 51 replies
    AP via Yahoo News ^ | August 27, 2015 | Martin Crutsinger
    WASHINGTON (AP) -- The U.S. economy staged a far bigger rebound last quarter than first thought, outpacing the rest of the developed world and bolstering confidence that it will remain sturdy in coming months despite global headwinds. The economy as measured by gross domestic product expanded at an annual rate of 3.7 percent in the April-June quarter, the Commerce Department reported Thursday. That's more than a percentage point greater than the initial 2.3 percent estimate and a sharp upgrade from the anemic 0.6 percent advance during the January-March quarter. President Barack Obama took note of the good GDP report, saying...
  • Ashley Madison website subscribers included White House, Congress workers

    08/20/2015 8:35:05 PM PDT · by John W · 80 replies
    AP via Stars & Stripes ^ | August 20, 2015 | JACK GILLUM and TED BRIDIS
    WASHINGTON — Hundreds of U.S. government employees — including some with sensitive jobs in the White House, Congress and law enforcement agencies — used Internet connections in their federal offices to access and pay membership fees to the cheating website Ashley Madison, The Associated Press has learned. The AP traced many of the accounts exposed by hackers back to federal workers. They included at least two assistant U.S. attorneys; an information technology administrator in the Executive Office of the President; a division chief, an investigator and a trial attorney in the Justice Department; a government hacker at the Homeland Security...
  • U.S. stocks routed as media, consumer, tech stocks tumble

    08/20/2015 10:33:26 AM PDT · by John W · 10 replies
    marketwatch.com ^ | August 21, 2015 | Anora Mahmudova & Sara Sjolin
    U.S. stocks were seeing a broad-based rout Thursday, led by a selloff in media, technology, consumer and financial stocks as investors wrestled with worries about a slowdown in global growth. “There is heightened uncertainty that began with yuan devaluation last week, while overall China’s growth is slowing father than thought. This is weighing on confidence,” said Randy Frederick, managing director of trading & derivatives at Schwab Center for Financial Research. The nervousness on Wall Street was apparent from a jump in the CBOE Volatility index VIX, +16.98% which has gained more than 35% to 17.65 over the past three trading...
  • St. Louis Fed official: No evidence QE boosted economy

    08/18/2015 11:14:51 AM PDT · by John W · 27 replies
    cnbc.com ^ | August 18, 2015 | Jeff Cox
    The Federal Reserve is putting some of its post-crisis actions under a magnifying glass and not liking everything it sees. In a white paper dissecting the U.S. central bank's actions to stem the financial crisis in 2008 and 2009, Stephen D. Williamson, vice president of the St. Louis Fed, finds fault with three key policy tenets. Specifically, he believes the zero interest rates in place since 2008 that were designed to spark good inflation actually have resulted in just the opposite. And he believes the "forward guidance" the Fed has used to communicate its intentions has instead been a muddle...
  • Empire State index tumbles to recession-era levels

    08/17/2015 6:36:41 AM PDT · by John W · 10 replies
    marketwatch.com ^ | August 17, 2015 | Steve Goldstein
    A reading of New York-area manufacturing conditions fell swiftly and brutally in August, one that could make the likelihood of an interest-rate hike next month — or even this year — more remote. The Empire State general business conditions index nose-dived to a reading of negative 14.9, from positive 3.9 in July, marking the worst level since April 2009, the New York Fed said. The index, on a scale where any positive number indicates improving conditions, was far worse than the positive 4.5 forecast in a MarketWatch-compiled economist poll. It wasn’t just weakness at the headline. The new-orders component sank...
  • Greece parliament approves 85-billion euro bailout deal

    08/14/2015 4:20:33 AM PDT · by John W · 11 replies
    dw.com ^ | August 14, 2015 | dw
    A divided Hellenic parliament has approved a third bailout for the country in five years, amid protests in Athens. The tense vote has lead to divisions within the ruling Syriza party, with snap elections on the horizon. Greek Prime Minister Alexis Tsipras was handed a pyrrhic victory early Friday after opposition legislators approved a 85-billion-euro ($94.8 billion) bailout to keep the country financially afloat. A clear majority of 222 MPs approved the 400-page text containing the bailout conditions - there were over 64 who voted against and 11 abstentions. However, only 118 of the 162 members of Tsipras' governing coalition...
  • Drugmaker GlaxoSmithKline shuts down plant over Legionnaires' bacteria

    08/11/2015 6:25:37 PM PDT · by John W · 6 replies
    AP ^ | August 11, 2015 | EMERY P. DALESIO
    RALEIGH, N.C. (AP) -- Drugmaker GlaxoSmithKline shut down a plant Tuesday that produces inhaled medications after discovering the bacteria that causes Legionnaire's disease, a potentially fatal form of pneumonia. The manufacturing plant in Zebulon, about 25 miles east of Raleigh, was closed after routine testing found the bacteria in a self-standing cooling tower. About 400 of the 850 employees who work in Zebulon were told to stay away until the towers are cleaned, officials for the London-based company said. The company said in a statement that the cooling tower "does not come into contact with product manufactured at the facility."
  • Athens in 'intense' talks to avoid another loan default

    08/08/2015 7:35:49 PM PDT · by John W · 6 replies
    AFP via Yahoo News ^ | August 8, 2015 | AFP
    Brussels (AFP) - Greece and its creditors were involved in "intense talks" over the weekend to agree on a new bailout before the debt-ridden country must repay 3.4 billion euros ($3.7 billion) to the European Central Bank on August 20. European officials said sticking points still remain despite the progress being made, with a "generally positive reception... towards Greek readiness to vote on reforms this week. "It is ambitious but feasible to come to an agreement in the coming days, preferably by 20 August," an EU diplomat said Saturday.
  • The timebomb under Yellowstone: Experts warn of 90,000 immediate deaths and a 'nuclear winter'

    08/08/2015 6:46:54 AM PDT · by John W · 103 replies
    dailymail.co.uk ^ | August 7, 2015 | Ellie Zolfagharifard
    A supervolcano in the heart of America's northwest has the potential to blanket the US in a 'nuclear winter'. If it were to erupt, the Yellowstone supervolcano would be one thousand times as powerful as the 1980 Mount St Helens eruption, experts claim. While it has lain dormant for more than 70,000 years, scientists say that we can't rule out the possibility eruption this may some day take place - although they say the chances are extremely slim. The eruption, the scientists say, could kill as many as 90,000 people almost instantly and release a 10 ft (3-meter) layer of...
  • Obama heading for Martha's Vineyard vacation a day early

    08/07/2015 12:39:31 PM PDT · by John W · 30 replies
    AP via Yahoo News ^ | August 7, 2015 | DARLENE SUPERVILLE
    WASHINGTON (AP) — Eager for a break from Washington, President Barack Obama is returning to his summer vacation spot of choice, the Massachusetts island of Martha's Vineyard, a day earlier than originally planned for more than two weeks of hoped-for rest coupled with extended pursuit of his favorite leisure sport: golf. Obama apparently was so anxious to join the hordes of lawmakers, lobbyists and others who turn Washington into a political ghost town every August that he moved up his departure. He was leaving the White House on Friday afternoon with his wife, Michelle, and teenage daughters Malia and Sasha,...
  • U.S. Economy Added 215,000 Jobs in July; Unemployment Still 5.3%

    08/07/2015 6:43:42 AM PDT · by John W · 31 replies
    New York Times ^ | August 7, 2015 | NELSON D. SCHWARTZ
    The American economy added 215,000 jobs in July, a respectable gain that could raise the comfort level of policy makers at the Federal Reserve as they consider the timing of their long-awaited move to raise interest rates. Although slower than the blockbuster pace of hiring in late 2014, the average monthly payroll gain in the first half of 2015 stood at more than 200,000 and the report from the Labor Department on Friday showed employers to be consistent last month. The unemployment rate held steady, after a decrease to 5.3 percent in June, the lowest level in more than seven...
  • Homeownership rate drops to 63.4%, lowest since 1967

    07/28/2015 8:29:55 AM PDT · by John W · 28 replies
    cnbc.com ^ | July 28, 2015 | Diana Olick
    The U.S. homeownership rate fell to 63.4 percent in the second quarter of 2015, according to the U.S. Census. That is down from 63.7 percent in the first quarter and from 64.7 percent in the same quarter of 2014. It marks the lowest homeownership rate since 1967. "It is now just five-tenths from the record low seen in 1965 in data going back also to 1965," noted Peter Boockvar, an analyst with The Lindsey Group. "All the governmental attempts (certainly aided and abetted by many players in the private sector) at boosting homeownership has gotten us to this point in...
  • Eurozone, Greece reach agreement on bailout

    07/13/2015 1:52:59 AM PDT · by John W · 6 replies
    AP via Yahoo News ^ | July 13, 2015 | Pan Pylas and Raf Casert
    BRUSSELS (AP) -- A summit of eurozone leaders reached a tentative agreement with Greece on Monday for a bailout program that includes "serious reforms" and aid, removing an immediate threat that Greece could collapse financially and leave the euro. Nine hours after a self-imposed deadline passed, the leaders announced the breakthrough early Monday. If the talks had failed, Greece could have faced bankruptcy and a possible exit from the euro, the European single currency that the country has been a part of since 2002.
  • CBO: Debt Headed to 103% of GDP; Level Seen Only in WWII

    07/10/2015 5:24:07 PM PDT · by John W · 6 replies
    csnnews.com ^ | July 10, 2015 | Terence P. Jeffrey
    Testifying in the U.S Senate yesterday, Congressional Budget Office Director Keith Hall warned that the publicly held debt of the U.S. government, when measured as a percentage of Gross Domestic Product, is headed toward a level the United States has seen only once in its history—at the end of World War II. To simply keep the debt at the high historical level where it currently sits—74 percent of GDP--would require either significant increases in federal tax revenue or decreases in non-interest federal spending (or a combination of the two).
  • EXCLUSIVE: Surveillance Video Shows Caitlyn Jenner Fatal Car Crash

    07/10/2015 5:14:54 AM PDT · by John W · 22 replies
    Yahoo News ^ | June 9, 2015 | Shana Naomi Krochmal
    ET has exclusively obtained surveillance video that shows the fatal February four-car accident in Malibu, California, in which Caitlyn Jenner was a driver and one person was killed. The footage may help investigators determine who was at fault. The images appear to show Jenner's Cadillac Escalade, which was towing a trailer carrying an off-road vehicle, hitting both a white Lexus, driven by Kim Howe, and Jessica Steindorff's black Prius. It also appears to show Howe colliding with a black Hummer driven by Peter Wolf Millesi. Howe, 69, died in the crash.
  • Obama administration revives plan once criticized as 'death panels'

    07/08/2015 5:36:34 PM PDT · by John W · 23 replies
    latimes.com ^ | July 8, 2015 | Noam N. Levey
    Six years after end-of-life planning nearly derailed development of the Affordable Care Act amid charges of "death panels," the Obama administration has revived a proposal to reimburse physicians for talking with their Medicare patients about how patients want to be cared for as they near death. The proposal, contained in a large set of Medicare regulations unveiled Wednesday, comes amid growing public discussion about the need for medical care that better reflects patients’ wishes as they get older. The new proposal from the Department of Health and Human Services would not require Medicare patients to sign any order or even...
  • Inside Obama family's $12million summer vacation

    07/06/2015 5:17:03 PM PDT · by John W · 20 replies
    dailymail.co.uk ^ | July 6, 2015 | Ashley Collman
    The president and his family have spent almost every single summer on the Massachusetts island since he was elected into the White House in 2008. The Boston Herald reports that Mr. Obama will be spending August 8-23 at the same $12 million Chilmark cottage where his family stayed last year. A manicurist has been booked for three days a week for their stay, according to the newspaper.
  • Futures sharply lower; live CNBC coverage tonight at 8pm ET

    07/05/2015 4:21:18 PM PDT · by John W · 90 replies
    cnbc.com ^ | July 5, 2015 | Everett Rosenfeld & Ben Berkowitz
    U.S. futures are sharply lower after the Greek vote, and CNBC will have live coverage of the aftermath tonight at 8 p.m. ET. The Greek people voted resoundingly on Sunday to reject proposals from their European creditors. S&P 500 futures fell 1.5 percent in early trading after 6 p.m. ET (2200 GMT).
  • Press Roped Down By Aides at Hillary Event

    07/04/2015 2:04:37 PM PDT · by John W · 44 replies
    weeklystandard.com ^ | Juy 4, 2015 | Daniel Halpor
    The press was roped down by aides today at Hillary Clinton event in New Hampshire. Photos of the press corps following Clinton at a July 4 parade were shared today on Twitter.
  • Bubba Watson to paint over Confederate flag on General Lee

    07/02/2015 10:07:58 PM PDT · by John W · 76 replies
    espn.com | July 2, 2015 | ESPN.com news services
    Bubba Watson, the third-ranked golfer in the world and owner of one of the official General Lee cars from the late 1970s TV show "Dukes of Hazzard" has decided to paint over the Confederate flag that adorns the top of the widely recognizable vehicle. Watson tweeted his plans Thursday night about the car he bought at auction several years ago for $110,000. @bubbawatson All men ARE created equal, I believe that so I will be painting the American flag over the roof of the General Lee #USA 7:18 PM - 2 Jul 2015
  • NBC Cutting Ties to Donald Trump Over ‘Derogatory’ Remarks About Immigration

    06/29/2015 11:57:52 AM PDT · by John W · 107 replies
    Yahoo News ^ | June 29, 2015 | Cynthia Littleton
    NBC is ending its long relationship with Donald Trump in the wake of the presidential hopeful’s recent comments about Mexican immigrants. NBC said it will no longer carry the Trump-produced Miss USA and Miss Universe pageants. Nor will he return to host “Celebrity Apprentice.” In a statement, NBC said: At NBC, respect and dignity for all people are cornerstones of our values. Due to the recent derogatory statements by Donald Trump regarding immigrants, NBCUniversal is ending its business relationship with Mr. Trump.
  • The world is defenceless against the next financial crisis, warns BIS

    06/28/2015 5:25:10 PM PDT · by John W · 23 replies
    The Telegraph ^ | June 28, 2015 | Peter Spence
    The world will be unable to fight the next global financial crash as central banks have used up their ammunition trying to tackle the last crises, the Bank of International Settlements has warned. The so-called central bank of central banks launched a scatching critique of global monetary policy in its annual report. The BIS claimed that central banks have backed themselves into a corner after repeatedly cutting interest rates to shore up their economies. These low interest rates have in turn fuelled economic booms, encouraging excessive risk taking. Booms have then turned to busts, which policymakers have responded to with...
  • JPMorgan Vice Chairman Jimmy Lee has died: Company

    06/17/2015 4:28:40 PM PDT · by John W · 42 replies
    cnbc,com ^ | June 17, 2015 | Everett Rosenfeld
    JPMorgan Vice Chairman Jimmy Lee unexpectedly died on Wednesday, the company said. He was 62. James B. Lee Jr. led the company's investment banking arm, and was known for his work on the syndicated loan market among other things. He oversaw major mergers and acquisitions deals including the sale of General Electric assets, the General Motors and Alibaba IPOs (the two largest U.S. IPOs ever), the United-Continental merger and the Comcast-NBCUniversal merger, according to a company spokesman.
  • Greek default fears rise as ‘11th-hour’ talks collapse

    06/14/2015 2:26:02 PM PDT · by John W · 19 replies
    http://www.ft.com ^ | June 14, 2015 | Peter Spiegel & Kevin Hope
    Talks aimed at reaching an 11th-hour deal between Greek ministers and their bailout creditors collapsed on Sunday evening after a new economic reform proposal submitted by Athens was deemed inadequate to continue negotiations. The breakdown is the clearest sign yet that differences between the two sides may be too wide to breach, increasing the possibility that Athens will not secure the €7.2bn in bailout aid it needs to avoid defaulting on its debts — including a €1.5bn loan repayment due to the International Monetary Fund in just two weeks.
  • Jim Ed Brown, Country Music Hall of Famer, Dies at 81

    06/11/2015 7:09:31 PM PDT · by John W · 40 replies
    billboard.com ^ | June 11, 2015 | Mike Barnes
    Jim Ed Brown, a member of the country music trio The Browns and a star of the Grand Ole Opry for more than a half-century, died Thursday. He was 81. Brown, who was elected into the Country Music Hall of Fame in March with his sisters Maxine and Bonnie, died at Williamson Medical Center in Franklin, Tenn. He was diagnosed with lung cancer in September. The Browns’ 1959 crossover smash “The Three Bells” topped Billboard’s country chart for 10 straight weeks, and it spent four weeks atop Billboard’s all-genre singles chart.
  • Obama Authorizes Deployment of Additional 450 Military Personnel to Iraq

    06/10/2015 12:21:13 PM PDT · by John W · 20 replies
    sputniknews.com ^ | June 10, 2015 | sputniknews.com
    WASHINGTON, June 10 (Sputnik) – US President Barack Obama has approved sending up to 450 military personnel to train local Iraqi forces as part of counter Islamic State (ISIL) effort, White House announced in a statement on Wednesday. “To improve the capabilities and effectiveness of partners on the ground, the President authorized the deployment of up to 450 additional US military personnel to train, advise, and assist Iraqi Security Forces at Taqaddum military base in eastern Anbar province,” the statement said. The White House explained that the decision was made following a request from Iraq’s Prime Minister Haider al-Abadi, and...
  • D.C. judge grants retrial in 2001 killing of intern Chandra Levy

    06/04/2015 5:42:02 PM PDT · by John W · 24 replies
    washingtonpost.com ^ | June 4, 2015 | Spencer S. Hsu
    A D.C. judge on Thursday granted a new trial to the man convicted of killing federal intern Chandra Levy in 2001, but prosecutors face steep challenges after acceding to the defense request to retry the case, attorneys and legal experts said. D.C. Superior Court Judge Gerald I. Fisher, who presided over the 2010 trial that sentenced Ingmar Guandique, 34, to 60 years in prison, set aside the verdict and agreed to bring the case before a new judge and jury. “Unless there is something else to be said, I would grant the motion for a new trial,” Fisher said in...
  • Rate hike needed to pop bubbles: Robert Shiller

    06/01/2015 3:01:07 AM PDT · by John W · 11 replies
    cnbc.com ^ | June 1, 2015 | Dhara Ranasinghe
    The U.S. Federal Reserve should consider lifting interest rates sooner rather than later to tackle speculative bubbles in the housing and stock markets, Nobel Prize-winning economist Robert Shiller told CNBC on Monday. "I'm thinking they (Fed policy makers) ought to be considering that, because that is the mistake they made in the past," the Yale University professor told CNBC Europe's "Squawk Box" when asked whether he believed the Fed should raise interest rates soon or later on. "They didn't deal with the housing bubble that led to the present crisis. There's a suggestion in my mind that they should be...
  • Japan rocked by 6.8-magnitude earthquake

    05/12/2015 3:14:07 PM PDT · by John W · 16 replies
    9news.com ^ | May 12, 2015 | 9 News
    An earthquake has struck off the coast of Japan, less than 24 hours after a seismic movement in Nepal caused further devastation in the region. The US Geological Survey said the 6.8-magnitude earthquake occurred near northeastern city Morioka, Honshu and struck at 6.13am local time (7.13am AEST). No tsunami warning has been issued.
  • Nepal earthquake, magnitude 7.3, strikes near Everest

    05/12/2015 1:58:46 AM PDT · by John W · 14 replies
    bbc.com ^ | May 12, 2015 | BBC
    A major earthquake has struck eastern Nepal, near Mount Everest, two weeks after more than 8,000 died in a devastating quake. The latest earthquake hit near the town of Namche Bazaar, near Mount Everest. The US Geological Survey said it had a magnitude of 7.3. An earthquake on 25 April, centred in western Nepal, had a magnitude of 7.8. The latest tremor was felt in northern India and Bangladesh. In the Nepalese capital Kathmandu, which was badly damaged last month, people rushed out of buildings as the quake struck at 12:35 local time (07:50 GMT).
  • Earthquake Swarm, Including Magnitude 4.0, Shakes East Bay Cities

    05/03/2015 4:44:44 PM PDT · by John W · 23 replies
    KPIX San Francisco ^ | May 3, 2015 | AP/CBS
    CONCORD (CBS/AP) — A string of moderate earthquakes has rattled the East Bay Sunday, shaking buildings. There were no immediate reports of injuries or damage. The U.S. Geological Survey says an earthquake with a preliminary magnitude of 4.0 hit at 2:13 p.m. Sunday. It was centered a mile south of Concord. Three smaller quakes shook the area in the moments before and after the larger one. A magnitude 2.5 earthquake hit at 2:01 p.m., followed by the 4.0 at 2:13, and a 2.7 magnitude quake at 2:14 p.m. A magnitude 2.4 shook the area again at 2:28 p.m. A magnitude...
  • 3.9 earthquake rattles Los Angeles area

    05/03/2015 6:46:55 AM PDT · by John W · 8 replies
    latimes.com ^ | May 3, 2015 | LA Times
    A shallow magnitude 3.9 earthquake was reported Sunday morning one mile from View Park-Windsor Hills, according to the U.S. Geological Survey. The temblor occurred at 4:07 a.m. PDT at a depth of 5.6 miles. The quake was classified by the USGS as "light" but was felt over a wide area of the L.A. basin. The Los Angeles Fire Department said it had received no reports of damage. A 3.5 quake rattled the same general area on April 12. Both quakes were centered on the Baldwin Hills/Inglewood border. The Newport-Inglewood fault runs along that area.
  • Study Breaks Down Aging Process, May Lead to Solutions to Age-Related Diseases

    04/30/2015 2:49:45 PM PDT · by John W · 12 replies
    www.heathline.com ^ | April 30, 2015 | Roberta Alexander
    Salk Institute researchers studied a mutation in Werner syndrome to get a better understanding of aging as well as age-related diseases, such as cancer, diabetes, and Alzheimer’s. Nobody likes the idea of aging. But the alternative — which is to die young — doesn’t have too many fans either. That’s why a study that offers possible new ways to prevent and treat age-related diseases such as cancer, diabetes and Alzheimer's disease has attracted attention. The study was published today in the journal Science. But don’t throw out that bottle of Gray Be Gone just yet. The scientists at the Salk...
  • If Greece falls, no one wants their prints on the murder weapon

    04/27/2015 3:13:27 AM PDT · by John W · 11 replies
    Reuters via Yahoo News ^ | April 27, 2015 | Paul Taylor
    BRUSSELS (Reuters) - "We're going bust." "No, you're not." "You're strangling us." "No we're not." "You owe us for World War Two." "We gave already." The game of chicken between Greece and its international creditors is turning into a vicious blame game as Athens lurches closer to bankruptcy with no cash-for-reform agreement in sight. Europe's political leaders and central bankers and Greek politicians agree on only one thing: if Greece goes down, they don't want their fingerprints on the murder weapon. If Athens runs out of cash and defaults in the coming weeks, as seems increasingly possible, no one wants...
  • Chinese scientists genetically modify human embryos

    04/22/2015 2:37:49 PM PDT · by John W · 41 replies
    nature.com ^ | April 22, 2015 | David Cyranoski & Sara Reardon
    In a world first, Chinese scientists have reported editing the genomes of human embryos. The results are published in the online journal Protein & Cell and confirm widespread rumors that such experiments had been conducted—rumors that sparked a high-profile debate last month about the ethical implications of such work. In the paper, researchers led by Junjiu Huang, a gene-function researcher at Sun Yat-sen University in Guangzhou, tried to head off such concerns by using 'non-viable' embryos, which cannot result in a live birth, that were obtained from local fertility clinics. The team attempted to modify the gene responsible for β-thalassaemia,...
  • Stocks Are Trading Deep in the Red Amid Global Jitters

    04/17/2015 9:13:28 AM PDT · by John W · 11 replies
    the street.com ^ | April 17, 2015 | Keris Alison Lahiff
    NEW YORK (TheStreet) -- U.S. stocks cratered on Friday, caught up in a global selloff triggered by changes in Chinese market regulation. A series of poor earnings from the likes of American Express and Advanced Micro Devices also hurt stocks and prompted worries over first-quarter performance for companies in the S&P 500. Wall Street grew nervous on reports Chinese regulators will crack down on over-the-counter margin trading and regulations that allow fund managers to lend shares for short-selling. Global markets sold off on the reports on the view tighter regulation would limit the recent influx of money into China's Shanghai...
  • Obama Says Partisanship Over Iran Nuclear Deal Has Gone Too Far

    04/11/2015 5:30:06 PM PDT · by John W · 64 replies
    nbcnews.com ^ | April 11, 2015 | NBC News
    President Barack Obama said Saturday that partisan wrangling over the emerging nuclear agreement with Iran and on other foreign policy matters has gone beyond the pale, singling out two senior Republican senators for particularly harsh criticism. "It needs to stop," he declared. Obama complained that Sen. John McCain of Arizona had suggested that Secretary of State John Kerry's explanations of the framework agreement with Iran were "somehow less trustworthy" than those of Iran's supreme leader. "That's an indication of the degree to which partisanship has crossed all boundaries," an exercised Obama said in a news conference at the end of...
  • Large Hadron Collider restarts after two-year rebuild

    04/05/2015 6:42:01 AM PDT · by John W · 10 replies
    BBC News ^ | April 5, 2015 | Jonathan Webb
    The Large Hadron Collider has restarted, with protons circling the machine's 27km tunnel for the first time since 2013. Particle beams have now travelled in both directions, inside parallel pipes, at a whisker below the speed of light. Actual collisions will not begin for at least another month, but they will take place with nearly double the energy the LHC reached during its first run. Scientists hope to glimpse a "new physics" beyond the Standard Model. Rolf Heuer, the director-general of Cern, which operates the LHC, told engineers and scientists at the lab: "Congratulations. Thank you very much everyone… now...
  • Arab leaders agree joint military force

    03/29/2015 6:57:27 AM PDT · by John W · 19 replies
    AFP via Yahoo News ^ | March 29, 2015 | Haitham El-Tabei
    Sharm el Sheikh (Egypt) (AFP) - Arab leaders have agreed to form a joint military force, Egyptian President Abdel Fattah al-Sisi announced Sunday at a summit dominated by a Saudi-led offensive on Shiite rebels in Yemen. Arab representatives would meet over the next month to study the creation of the force and present their findings to a defence ministers within four months, according to the resolution adopted by the leaders. "Assuming the great responsibility imposed by the great challenges facing our Arab nation and threatening its capabilities, the Arab leaders had decided to agree on the principle of a joint...
  • Fed rate hike may be warranted later this year: Yellen

    03/28/2015 6:12:02 AM PDT · by John W · 18 replies
    hirunews.lk ^ | March 28, 2015 | hirunews.lk
    An interest rate hike by the Federal Reserve may be warranted later this year, with a gradual path expected to follow, although a downturn in core inflation or wage growth could force it to hold off, the central bank's chief said yesterday. Fed Chair Janet Yellen said that after the first rate increase a further, gradual tightening in monetary policy will likely be warranted. She said, if incoming data fails to support the Fed's economic forecast, the path of policy will be adjusted.
  • Why the US Economy Has Not Recovered in 10 Charts

    03/25/2015 2:30:07 AM PDT · by John W · 23 replies
    schiffgold.com ^ | March 24, 2015 | Mike Finger
    Peter Schiff isn’t the only one warning that the economic data of the United States is much worse than the media portrays. Michael Snyder has shared 10 charts pulled straights from the Federal Reserve’s own records that show how things have gotten worse since last crisis, not better. Some of these are points Peter has raised time and again, such as the low labor force participation rate. You can see it has been ticking steadily lower since the turn of the millennium. However, Snyder goes on at length about a number of other important data points. Whether he is looking...
  • Kennedy: Jesse Jackson Jr. Leaving Prison for Halfway House

    03/24/2015 4:42:46 PM PDT · by John W · 8 replies
    AP via ABC News ^ | March 24, 2015 | Mchelle R. Smith
    Former U.S. Rep. Jesse Jackson Jr. will be released from a federal prison on Thursday and will serve out the remainder of his term in a Washington, D.C., halfway house, former U.S. Rep. Patrick Kennedy told The Associated Press after visiting Jackson. Kennedy said he spoke with Jackson at the minimum security federal prison camp in Montgomery, Alabama, where the son of the civil rights leader has been serving a 2 ½-year sentence after pleading guilty to illegally spending $750,000 in campaign funds on personal items. Jackson, an Illinois Democrat, began the sentence on Nov. 1, 2013. The U.S. Bureau...
  • Dow suffers biggest point drop in 5 months

    03/10/2015 2:12:31 PM PDT · by John W · 28 replies
    marketwatch.com ^ | March 10, 2015 | Anora Mahmudova
    NEW YORK (MarketWatch) — The Dow Jones Industrial Average suffered its worst one-day point drop in five months as investors began pricing in a rate hike by the Federal Reserve by the middle of the year, while other central banks are embarking on a quantitative easing path. ECB’s bond purchases sent European government bond yields sharply lower, while euro fell to multiyear lows against the dollar, wreaking havoc on foreign exchange and commodity markets. Tuesday’s free fall erased 2015 gains for the S&P 500 and Dow industrials, pushing the indexes slightly negative for the year. The surging dollar hammered commodities,...
  • Stocks Fall as Rate Hike Is Expected Sooner Rather Than Later

    03/06/2015 11:29:57 AM PST · by John W · 13 replies
    the street.com ^ | March 6, 2015 | Keris Alison Lahiff
    NEW YORK (TheStreet) -- Stocks fell on Friday as better-than-expected jobs figures increased the likelihood of a rate hike from the Federal Reserve in the near future, according to an economist. Crude oil prices were also pressuring markets even as the U.S. rig count declined for the 13th straight week. The number of jobs the U.S. economy added in February rose sharply to 295,000 jobs from a downwardly revised 239,000 in January, the Labor Department said Friday. Economists had expected an increase of 235,000. The unemployment rate in February ticked down to 5.5%, lower than a forecast 5.6%. "Continued healthy...
  • National Security Expert: U.S. Foreign Policy Leaders ‘Have Lost The Ability To Think

    02/22/2015 6:22:29 PM PST · by John W · 27 replies
    The Daily Caller ^ | February 22, 2015 | Ginni Thomas
    From his time briefing generals in the Pentagon, Stephen Coughlin — a leading expert on national security and author of the soon-to-be-published book, “Catastrophic Failure: Blindfolding America in the Face of Jihad” — has always feared for our nation’s safety and thinks it’s time for the government to stop lying. Coughlin is an attorney, decorated intelligence officer and expert on Islamic law and terrorism. He says the “entire world, friend and foe alike, understands, that starting with the Bush administration and accelerating in the Obama administration, that our foreign policy community is absolutely incoherent and completely vulnerable. These people have...
  • The Great SIM Heist;How Spies Stole the Keys to the Encryption Castle

    02/19/2015 11:56:15 AM PST · by John W · 3 replies
    firstlook.org ^ | February 19, 2015 | Jeremy Scahill and Josh Begley
    American and British spies hacked into the internal computer network of the largest manufacturer of SIM cards in the world, stealing encryption keys used to protect the privacy of cellphone communications across the globe, according to top-secret documents provided to The Intercept by National Security Agency whistleblower Edward Snowden. The hack was perpetrated by a joint unit consisting of operatives from the NSA and its British counterpart Government Communications Headquarters, or GCHQ. The breach, detailed in a secret 2010 GCHQ document, gave the surveillance agencies the potential to secretly monitor a large portion of the world’s cellular communications, including both...
  • Federal Reserve minutes indicate no rush to raise interest rates

    02/18/2015 11:26:15 AM PST · by John W · 8 replies
    cnbc.com ^ | February 18, 2015 | Jeff Cox
    Federal Reserve policymakers voted in unison last month not to raise interest rates, but the discussions leading to the vote show considerable levels of hand-wringing over the course ahead. January meeting minutes released Wednesday show a Fed Open Market Committee concerned over its credibility and the path it should take toward normalizing monetary policy. Issue by issue, "some," "a few" or a "couple" voiced concerns about when the central banks should begin raising rates and how it should do so. Ultimately, though, "many" won out in determining that the days of cheap money would continue. In fact, the minutes overall...
  • Under pressure from Congress, Secret Service deputy director resigns

    02/09/2015 5:23:32 PM PST · by John W · 6 replies
    Washington Post ^ | February 9, 2015 | Carol D. Leonnig
    The Secret Service said Monday that its second-ranking official was resigning his post, a departure under pressure of one of the last remaining senior managers who had presided over a string of embarrassing security lapses in recent years. The ouster of Deputy Director Alvin “A.T.” Smith, which followed pressure from lawmakers who have called for fresh leadership at the troubled agency, came three days before he was scheduled to testify before a House oversight committee. He was considered one of the few people with a deep understanding of the Secret Service’s highly specialized mission.
  • U.S. gains 257,000 jobs in January; unemployment 5.7%

    02/06/2015 5:42:28 AM PST · by John W · 38 replies
    marketwatch.com ^ | February 6, 2015 | Jeffry Bartash
    WASHINGTON (MarketWatch) - The U.S. added 257,000 jobs in January and hiring in the final two months of 2014 was even stronger than previously reported, reflecting by far the strongest pace of job creation since a recovery began more than five years ago. Economists polled by MarketWatch had expected a gain of 230,000 nonfarm jobs. The unemployment rate, meanwhile, edged up to 5.7% from 5.6% as more people entered the labor force in search of work, the Labor Department said Friday. In a good sign, average hourly wages jumped 0.5% in January to $24.75 after declining in December.