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Articles Posted by Lorianne

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  • Target pulling out of Canada

    01/25/2015 7:54:14 PM PST · by Lorianne · 21 replies
    CBS News ^ | 15 January 2015
    Target Corp. Chairman and CEO Brian Cornell said Thursday that the company was unable to find a realistic scenario in which the 133-store Target Canada would become profitable before at least 2021. It is Cornell's first major move since becoming CEO in August. Cornell, who's been tasked with maintaining the retailer's momentum and reclaiming its image as a purveyor of cheap chic fashions and home decor, said it was a difficult decision "but it was the right decision for our company." "We have determined that it is in the best interest of our business and our shareholders to exit the...
  • Europe's Austerity Moment Is Ending (Greek election)

    01/25/2015 6:01:49 PM PST · by Lorianne · 84 replies
    The Atlantic ^ | 25 January 2015 | Matt Schiavenza
    Voting in Sunday's much-watched Greek elections has ended, and exit polls suggest that the far-left Syriza party has captured nearly 40 percent of the vote. While this may not be enough to ensure a parliamentary majority in Greece's electoral system, it's now clear that Alexis Tsipras, a fiery 40-year-old once considered too radical for national politics, will lead the next Greek government. Tsipras has promised to end Greece's "austerity program," a series of spending cuts and tax hikes designed to reduce the country's enormous bailout debt, which equals 175 percent of its GDP. Freed from this burden, Tsipras argues, the...
  • Truth Or Lies? (Deficit)

    01/21/2015 10:38:19 AM PST · by Lorianne · 8 replies
    Market Ticker ^ | 20 January 2014 | Karl Denninger
    I don't like this sort of horsecrap. The federal budget deficit slid to $483 billion in fiscal year 2014, down from $680 billion in 2013 and more than $1 trillion each of the prior four years. Higher tax revenue, economic growth and caps on government spending all contributed to the shrinking budget gap. It did? 09/30/2013 11,976,279,236,073.83 4,761,904,290,623.49 16,738,183,526,697.32 On 9/30/2013 there was $16,738 billion in federal debt. 09/30/2014 12,784,971,238,978.02 5,039,100,141,755.80 17,824,071,380,733.82 On 9/30/2014, the end of last fiscal year, there was $17,824 billion of federal debt. The net increase is $1,086 billion, or $1.086 trillion dollars, not $483 billion.
  • Syria regime airstrikes kill at least 39 people

    01/21/2015 8:38:14 AM PST · by Lorianne · 6 replies
    Daily Star (Lebanon) ^ | 21 January 2015
    Syrian government airstrikes Tuesday killed at least 39 people, mostly civilians, in two main battlegrounds in the north of the country, a monitor said. The Syrian Observatory for Human Rights, a Britain-based anti-regime monitoring group, said at least 27 people were killed in airstrikes that targeted a livestock market in the village of Khansaa, south of the city of Qamishli. Speaking to AFP, Observatory director Rami Abdel-Rahman said nine of those killed in the village of Khansaa near the town of Tal Hamis had been identified by his group as civilians. “More of the dead may be civilians too, but...
  • Thousands from ex-Soviet Central Asia 'fighting for Islamic State'

    01/21/2015 7:51:13 AM PST · by Lorianne · 10 replies
    Al-Monitor ^ | 20 January 2014
    Up to four thousand people from Muslim former Soviet Central Asian countries are believed to have joined Islamic State jihadists, a report published on Tuesday said. Often driven by poverty, some "2,000 to 4,000 have in the past three years turned their back on their secular states to seek a radical alternative," the International Crisis Group said in a briefing on the region. That figure is much higher than the official one of several hundred given by the governments of Uzbekistan, Tajikistan, Kazakhstan, Turkmenistan and Kyrgyzstan, the report said False 'Chechens' People from the region are drawn to join Islamic...
  • Ocean 'calamities' oversold, say researchers

    01/17/2015 7:34:17 PM PST · by Lorianne · 4 replies
    Nature ^ | 14 January 2015 | Daniel Cressey
    Team calls for more scepticism in marine research.___ The state of the world's seas is often painted as verging on catastrophe. But although some challenges are very real, others have been vastly overstated, researchers claim in a review paper. The team writes that scientists, journals and the media have fallen into a mode of groupthink that can damage the credibility of the ocean sciences. The controversial study exposes fault lines in the marine-science community. Carlos Duarte, a marine biologist at the University of Western Australia in Perth, and his colleagues say that gloomy media reports about ocean issues such as...
  • Charlie Hebdo and the Project of French Identity

    01/17/2015 3:56:36 PM PST · by Lorianne · 5 replies
    Globalist ^ | 16 January 2015 | Michael Vlahos
    What to do when you are no longer the next universal vision for humanity? ___ In the age of globalization, brand has become more important than where something is made. Quality counts, but it is the brand you buy into. How well the French understand this. They remain tenacious on EU laws that aggressively defend their marques of origin like the bubbly “Champagne.” France is, after all, a nation of immortal brands – so much so that they seem to undergird French national identity itself. Simply, for the national brand to be sustained, France must also grow, but here the...
  • Swiss Franc rockets…Hedgies taken out to the woodshed and shot

    01/16/2015 7:05:52 PM PST · by Lorianne · 30 replies
    China Money Report ^ | 16 January 2015
    Europe is deflating….The Swiss banking established, normally always a pillar of private property and free capital movement have decided to stop pegging their currency which has been an affront against free markets. Hedge Funds piggy banking off government manipulation and mostly short the currency were taken out to the woodshed and shot as the currency shot up 30% in minutes.
  • China shadow banking chills stimulus hopes

    01/16/2015 5:58:00 PM PST · by Lorianne · 3 replies
    CNBC ^ | 15 January 2015 | Nyshka Chandran
    Two months ago calls for broad-based stimulus in China were all the rage, but a sudden spike in shadow banking has led analysts to revise their expectations for looser monetary policy. Aggregate social financing, a measure of credit that covers bank lending and shadow banking activity, hit one-year high of 1.69 trillion yuan ($273 billion) in December, up from 1.15 trillion yuan the previous month, official data showed on Thursday. "A surge in shadow bank credit – entrusted loans, trust loans, banker's acceptances, corporate bonds and non-financial enterprises' domestic equity – was responsible for December's considerably larger than expected increase...
  • Aberdeen - the energy-rich town counting the cost of the new oil shock

    01/16/2015 5:54:42 PM PST · by Lorianne · 2 replies
    Guardian UK ^ | 15 January 2015 | Terry Macalister
    Billy Campbell’s three-year-old is spinning around in a Peppa Pig plastic rocket in the middle of Aberdeen’s Union Square shopping mall. It is not hard to believe that the wider Aberdonian population is in a similar spin given the crisis that has struck the Granite City’s key industry: oil and gas. Ed Davey, the energy secretary, and Nicola Sturgeon, Scotland’s first minister, have both rushed to Britain’s oil capital in the last 48 hours to reassure the city that they are aware of looming problems – problems that, the Bank of England governor warned on Wednesday, will deliver a “negative...
  • What is the future direction of oil prices?

    01/16/2015 5:52:12 PM PST · by Lorianne · 13 replies
    Guardian UK ^ | 15 January 2015 | Anatole Kaletsky
    If one number determines the fate of the world economy, it is the price of a barrel of oil. Every global recession since 1970 has been preceded by at least a doubling of the oil price, and every time the oil price has fallen by half and stayed down for six months or so, a major acceleration of global growth has followed. Having fallen from $100 to $50, the oil price is now hovering at exactly this critical level. So should we expect $50 to be the floor or the ceiling of the new trading range for oil? Most analysts...
  • World deflationary forces have swept away Switzerland's defences

    01/16/2015 5:49:10 PM PST · by Lorianne · 17 replies
    Telegraph (UK) ^ | 15 Junuary 2015 | Ambrose Evans-Pritchard
    The Swiss National Bank has lost control. It is the latest in a list of venerable central banks to be overwhelmed by deflationary forces and global economic disorder. The country is already in deflation. The Swiss franc ended Thursday 13pc higher after the SNB abandoned its three-year efforts to defend a currency floor of 1.20 to the euro. “We have a free exchange rate once again,” said the SNB’s president, Thomas Jordan. Indeed, but nobody is fooled by the SNB’s attempt to spin this as benign. “This is a huge hit to their credibility,” said Deutsche Bank. The official statement...
  • Swiss mess could make oil plunge seem like minor hiccup

    01/16/2015 5:46:55 PM PST · by Lorianne · 11 replies
    Market Watch ^ | 15 Junuary 2015
    One day, it’s gold. The next, it’s equities. Most days, it’s crude. On Wednesday, it was copper. On Thursday it was the Swiss franc and Swiss stocks. And the move in those two makes those others look like minor-league hiccups. While you were sleeping, all hell broke loose in Switzerland, as the central bank ditched its currency cap against the euro after four years and slashed interest rates to negative 0.75%. The Swiss franc is rallying wildly, while the Swiss stock market is cratering and U.S. stock futures are mostly on the losing side as investors figure out this latest...
  • Here's why oil is such a problem for corporate earnings

    01/13/2015 5:09:40 PM PST · by Lorianne · 12 replies
    CNBC ^ | 12 January 2015 | Bob Pisani
    Oil and natural gas are sliding again to multi-year lows, and once again it is having an influence on stocks. What's important is to understand the outsized influence this near-daily drop in oil (six months and running!) is having on corporate earnings. Even though the energy sector is only roughly 8 percent of the market capitalization of the S&P 500, the decline in earnings in that sector has been so dramatic that it is affecting earnings estimate for the entire S&P 500. On December 1st, analyst anticipated that Energy earnings for Q1 2015 would decline 13.8 percent compared to Q1...
  • The goats fighting America's plant invasion

    01/13/2015 5:02:29 PM PST · by Lorianne · 24 replies
    BBC ^ | 12 January 2015 | Joanna Jolly
    Each country has its own invasive species and rampant plants with a tendency to grow out of control. In most, the techniques for dealing with them are similar - a mixture of powerful chemicals and diggers. But in the US a new weapon has joined the armoury in recent years - the goat. In a field just outside Washington, Andy, a tall goat with long, floppy ears, nuzzles up to his owner, Brian Knox. Standing with Andy are another 70 or so goats, some basking in the low winter sun, and others huddled together around bales of hay. This is...
  • China’s small cities buy up their own land

    01/13/2015 4:54:24 PM PST · by Lorianne · 5 replies
    CNBC ^ | 12 January 2015 | Lucy Hornby
    Local governments in some of China's smallest cities are snapping up an increasing amount of their own land at auctions, in a destructive cycle designed to prop up property prices but which is ravaging their own finances. Local government financing vehicles in at least one wealthy province, Jiangsu, which borders Shanghai, accounted for more land purchases than property developers did in 2013 — the last year for which data were available — according to research collated by Deutsche Bank. The data signal that already cash-strapped local governments are switching money from one pocket to another rather than booking real sales....
  • Wendy Davis Replacement Wears ‘Stand for Life’ Boots to First Day of Texas Senate

    01/13/2015 2:30:15 PM PST · by Lorianne · 28 replies
    Mediate ^ | 13 January 2015 | Evan McMurry
    Before Wendy Davis ran what turned out to be an horrific campaign for Texas governor in 2014, she was launched by her 13-hour filibuster against a stringent abortion bill while wearing a pair of now-iconic pink sneakers. But in running for governor she gave up her state Senate seat, which was claimed by tea partier Konni Burton. On Tuesday Burton massively trolled Davis with some footwear of her own, brandishing on the first day of the Texas Legislature a pair of cowboy boots emblazoned with “Stand for Life”
  • France Terror Heading to US, Oil Crash Equals Market Crash, Obama’s Phony Recovery

    01/11/2015 6:50:55 PM PST · by Lorianne · 12 replies
    You Tube/ USA Watchdog ^ | 08 January 2015 | Greg Hunter
    video 15:10
  • The Fire Rages

    01/08/2015 6:23:19 PM PST · by Lorianne · 65 replies
    Steyn Online ^ | Mark Steyn
    In 2008, when the Canadian Islamic Congress attempted to criminalize my writing, we heard a lot of the usual hooey (courtesy of that eugenicist crackpot Oliver Wendell Holmes) that there was no right to shout fire in a crowded theatre. On the very last day of the trial in Vancouver, my old friend Julian Porter, QC summed up thus: Against the argument that you cannot cry fire in a crowded theatre: Oh yes you can — you must, if in your considered view there is a fire. In that case there is a duty to cry fire.The satirists of Charlie...
  • Most fossil fuels 'unburnable' under 2C climate target

    01/08/2015 9:43:26 AM PST · by Lorianne · 23 replies
    BBC ^ | 07 January 2015 | Helen Briggs
    Most of the world's fossil fuel reserves will need to stay in the ground if dangerous global warming is to be avoided, modelling work suggests. Over 80% of coal, 50% of gas and 30% of oil reserves are "unburnable" under the goal to limit global warming to no more than 2C, say scientists. University College London research, published in Nature journal, rules out drilling in the Arctic. And it points to heavy restrictions on coal to limit temperature rises. "We've now got tangible figures of the quantities and locations of fossil fuels that should remain unused in trying to keep...
  • China steps in to support Venezuela, Ecuador as oil prices tumble

    01/08/2015 9:41:24 AM PST · by Lorianne · 8 replies
    Fortune ^ | 08 January 2015 | Geoffrey Smith
    Xi eyes doubling of trade volumes within 10 years and promises $250 billion of investment to Latin America. China stepped up its courtship of Latin American countries Thursday, promising to double trade with the region by 2025 and offering fresh loans to support left-wing governments in Venezuela and Ecuador. At a meeting in Beijing with the Community of Latin American and Caribbean States, or CELAC, President Xi Jinping said that annual bilateral trade would rise to $500 billion over the next 10 years, and that China would invest some $250 billion in the region in that period. That would threaten...
  • Terrorists who attacked French magazine displayed professional training

    01/07/2015 8:05:27 AM PST · by Lorianne · 22 replies
    Long War Journal ^ | 07 January 2015 | Bill Ardolino, Bill Roggio
    The attack appears to have been executed by hardened and well-trained fighters who may have received instructions at a training facility overseas, or locally in France. The attackers may also be ex-military. The professionalism of the two attackers is seen in a brief video that shows the execution of one of the two French policemen on the street outside of Charlie Hebdo's headquarters [the graphic video is reproduced below]. The video was captured by witnesses at the scene of the attack and was published on Liveleak. The two attackers move in side-by-side formation and fire deliberately while shooting at a...
  • Oil’s future hangs between the emirates and the shales of Eagle Ford

    01/06/2015 2:56:07 PM PST · by Lorianne · 5 replies
    Guardian UK/ monbiot.com ^ | 04 January 2015 | Greg Jericho
    The decision by president Barack Obama to open the door to US oil exports seeped out of Washington in a low-key manner last week, but the impact could be as explosive as a New Year’s Eve firework display. The ban – imposed after the Middle East oil embargoes in the 1970s – has made it close to impossible to ship abroad the fruits of America’s shale bonanza. It also long looked wrong-headed in the home of free trade. The US department of commerce quietly overturned the four-decade-old policy by saying it had started to approve a backlog of requests to...
  • The people pushed out of Ethiopia's fertile farmland

    01/06/2015 2:52:18 PM PST · by Lorianne · 4 replies
    BBC ^ | 05 January 2015 | Matthew Newsome
    The construction of a huge dam in Ethiopia and the introduction of large-scale agricultural businesses has been controversial - finding out what local people think can be hard, but with the help of a bottle of rum nothing is impossible. After waiting several weeks for letters of permission from various Ethiopian ministries, I begin my road trip into the country's southern lowlands. I want to investigate the government's controversial plan to take over vast swathes of ancestral land, home to around 100,000 indigenous pastoralists, and turn it into a major centre for commercial agriculture, where foreign agribusinesses and government plantations...
  • Venezuelan leader Maduro seeks economic help on tour

    01/06/2015 2:48:53 PM PST · by Lorianne · 6 replies
    BBC ^ | 04 January 2015
    Venezuelan President Nicolas Maduro is beginning an international tour to try to stem the impact of falling oil prices and a deepening recession. Mr Maduro goes first to China - a major source of loans for Venezuela - for talks with the Chinese President, Xi Jinping. He will then travel to various Opec member countries to press for cuts in oil output that would boost prices. Venezuelan oil prices have dropped by half since June. The country gets most of its foreign currency from oil exports and is estimated to have the largest oil reserves in the world. Before he...
  • Oil dips below $49 as sector faces 'Hunger Games'

    01/06/2015 2:45:41 PM PST · by Lorianne · 13 replies
    CNBC ^ | 06 January 2015 | Matt Clinch
    Oil's dramatic fall in price will have serious effects on revenues and spending in the sector, according to some industry analysts, with one investment firm predicting a sector-wide "recession" that will last for several years. Both U.S. crude and Brent futures fell to fresh 5½-year lows on Tuesday, with the former slipping below $48 at one stage. Weak global demand and booming U.S. oil production are seen as the key reasons behind the price plunge, as well as OPEC's (Organization of the Petroleum Exporting Countries) reluctance to cut its output. This sector slump will lead to a fight to the...
  • Best Prank Ever (fresh sausage)

    01/05/2015 2:19:20 PM PST · by Lorianne · 20 replies
    Video 5:37
  • A Coca-Cola factory is coming to Gaza

    01/03/2015 4:04:40 PM PST · by Lorianne · 41 replies
    Washington Post ^ | 23 December 2014 | Adam Taylor
    One of the most controversial aspects of Israel's policy on Gaza is economic: A blockade of the Palestinian territory began in 2007 after Hamas gained control of the region. Most experts agree that it has had a dramatic effect on life in the region (over the summer, the Economist said the siege had made Gaza "the world's biggest open-air prison") yet many also argue that it has failed to achieve its aims of weakening Hamas. In this light, the impending opening of a Coca-Cola factory in Gaza seems important. Reuters reports that Palestinians – with Israeli approval – began importing...
  • The Insatiable God (growth)

    01/02/2015 3:23:18 PM PST · by Lorianne · 5 replies
    Guardian UK/ monbiot.com ^ | 18 November 2014 | George Monbiot
    The blind pursuit of economic growth stokes a cycle of financial crisis, and wrecks our world. ___ Another crash is coming. We all know it, now even David Cameron acknowledges it(1). The only questions are what the immediate catalyst will be, and when it begins. You can take your pick. The Financial Times reports today that China now resembles the US in 2007(2). Domestic bank loans have risen 40% since 2008, while “the ability to repay that debt has deteriorated dramatically”. Property prices are falling and the companies that run China’s shadow banking system provide “virtually no disclosure” of their...
  • High-speed railways are revolutionizing trade in Eurasia (China)

    01/01/2015 8:20:15 PM PST · by Lorianne · 50 replies
    Salon ^ | 31 December 2014 | Pepe Escobar
    November 18, 2014: it’s a day that should live forever in history. On that day, in the city of Yiwu in China’s Zhejiang province, 300 kilometers south of Shanghai, the first train carrying 82 containers of export goods weighing more than 1,000 tons left a massive warehouse complex heading for Madrid. It arrived on December 9th. Welcome to the new trans-Eurasia choo-choo train. At over 13,000 kilometers, it will regularly traverse the longest freight train route in the world, 40% farther than the legendary Trans-Siberian Railway. Its cargo will cross China from East to West, then Kazakhstan, Russia, Belarus, Poland,...
  • Fairy Tales of Diversity

    12/29/2014 7:18:17 AM PST · by Lorianne · 5 replies
    Steyn Online ^ | 29 December 2014 | Mark Steyn
    The notion of "approved" news goes back a long way. If you've read A Connecticut Yankee In King Arthur's Court by Mark Twain, you'll recall that Hank Morgan, the eponymous time-travelling New Englander, was much taken by the Court Circular published each week in Camelot: On Monday, the King rode in the park. But at least the King did, in fact, ride in the park. In today's world, it is no longer necessary for the event so described actually to occur for it to be reported as a remarkable, newsworthy event. Here, for example, is CBS Los Angeles reporting on...
  • Regulators Explain ‘Too Big to Fail’ Decision on MetLife

    12/26/2014 3:19:06 PM PST · by Lorianne · 24 replies
    NYT ^ | 19 December 2014 | Mary Williams Walsh
    A panel of regulators said on Friday that MetLife required heightened scrutiny by the Federal Reserve because of its size, leverage and interconnectedness with other financial institutions. “Material financial distress at MetLife could have significant adverse effects on a broad range of financial firms and financial markets,” the Financial Stability Oversight Council said in a 31-page statement explaining why it had voted 9 to 1 on Thursday to designate MetLife a “systemically important financial institution,” or SIFI. In such a situation, the market disruption could be severe enough “to inflict significant damage on the economy,” the council found. The council,...
  • Amid Surge, Real Estate Investors Win as Builders Lose

    12/23/2014 2:26:54 PM PST · by Lorianne · 4 replies
    Professional Builder | 23 December 2014
    According to Bloomberg, investors in a fund devoted to real estate investment trusts have racked up gains of 65 percent, while investors in homebuilder stocks still haven’t recovered from the U.S. housing crash. “The gap will probably endure for years as U.S. job growth spurs demand for office, retail and apartment properties faster than Americans can buy new houses,” Bloomberg reports.
  • Existing Home Sales Drop 6.1% to 4.93M rate in November

    12/22/2014 12:12:04 PM PST · by Lorianne · 7 replies
    CNBC ^ | 22 December 2014
    U.S. home resales tumbled to a six-month low in November after two straight months of strong increases, underscoring the uneven nature of the housing market recovery. The National Association of Realtors said on Monday existing home sales dropped 6.1 percent to an annual rate of 4.93 million units, the lowest level since May.
  • Russia to bail out Trust Bank with up to $530 million

    12/22/2014 11:32:55 AM PST · by Lorianne · 12 replies
    Reuters ^ | 22 December 2014
    Russian mid-sized lender Trust Bank is to receive up to 30 billion rubles ($530 million) from the central bank to stop it going bankrupt in the first bailout of its kind during the current rouble crisis. The central bank also said its Deposit Insurance Agency, responsible for managing crisis-hit lenders, would take over interim supervision of Trust Bank as of Monday. The measures "will make it possible for Trust to continue smooth payments operations. All the bank's clients, including depositors, can use its services as usual", the central bank said in a statement. Trust, which hired actor Bruce Willis as...
  • Greece’s radical left could kill off austerity in the EU

    12/22/2014 10:08:31 AM PST · by Lorianne · 13 replies
    Guardian UK ^ | 22 December 2014 | Owen Jones
    nother war looms in Europe: waged not with guns and tanks, but with financial markets and EU diktats. Austerity-ravaged Greece may well be on the verge of a general election that could bring to power a government unequivocally opposed to austerity. Momentous stuff: that has not happened in the six years of cuts and falling living standards that followed the collapse of Lehman Brothers. But if the radical leftist party Syriza does indeed triumph in a possible snap poll in the new year, there will undoubtedly be a concerted attempt to choke the experiment at birth. That matters not just...
  • The Odd Math of Medical Tests: One Scan, Two Prices, Both High

    12/20/2014 5:23:54 PM PST · by Lorianne · 12 replies
    New York Times ^ | 15 December 2015 | Elixabeth Rosenthal
    Testing has become to the United States’ medical system what liquor is to the hospitality industry: a profit center with large and often arbitrary markups. From a medical perspective, blood work, tests and scans are tools to help physicians diagnose and monitor disease. But from a business perspective, they are opportunities to bring in revenue — especially because the equipment to perform them has generally become far cheaper, smaller and more highly mechanized in the past two decades. And echocardiograms, ultrasound pictures of the heart, are enticing because they are painless and have no side effects — unlike CT scans,...
  • Chevron, Statoil Announce First Oil Strike In New Gulf Of Mexico Field

    12/19/2014 12:23:47 PM PST · by Lorianne · 15 replies
    Oil Price ^ | 03 December 2014 | Andy Tully
    Two multinational energy giants, Chevron Corp. of the United States and Norway’s Statoil, have begun extracting oil and gas from the large Jack and St. Malo fields in US waters of the Gulf of Mexico. The two fields are among the largest in the Gulf and are expected to yield 94,000 barrels of oil equivalent and 21 million cubic feet of gas per day for an estimated 30 years, Chevron said in a statement on Dec 2. The Jack field’s reserves were discovered in 2004 and the St. Malo oil was discovered a year earlier. The fields are situated about...
  • Federal Reserve delays parts of Volcker rule until 2017

    12/19/2014 12:20:11 PM PST · by Lorianne
    BBC ^ | 18 December 2014
    The US Federal Reserve has given Wall Street banks even more time to comply with parts of the Volcker Rule, a key provision of the 2010 Dodd-Frank financial reform bill. The rule prevents federally-insured banks from using their own money when investing in certain risky assets. It will now grant an extension to other types of funds. Initially, the Fed had said banks would have until 21 July 2017 to stop trading in collateralised loan obligations, which essentially move the risk of investments in loans off their balance sheets.
  • North Sea oil industry 'close to collapse'

    12/19/2014 12:13:59 PM PST · by Lorianne · 37 replies
    BBC ^ | 18 December 2014 | Ben King
    The UK's oil industry is in "crisis" as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money. Robin Allan, chairman of the independent explorers' association Brindex, told the BBC that the industry was "close to collapse". Almost no new projects in the North Sea are profitable with oil below $60 a barrel, he claims. "It's almost impossible to make money at these oil prices", Mr Allan, who is a director of Premier Oil in addition to chairing Brindex, told the BBC. "It's a huge crisis." "This...
  • The Business of Urban Farming Takes Root in Detroit

    12/16/2014 7:02:04 AM PST · by Lorianne · 23 replies
    Entreprenueur ^ | 02 December 2014
    Greg Willerer may not seem like your average entrepreneur. The once full-time school teacher quit his job to follow his passion for farming in the most unlikely of places. Located not far from Downtown Detroit, Willerer launched his urban farming business on just one acre of land. During his first year, Willerer earned almost the equivalent of his teaching salary. His venture, Brother Nature Produce, sells locally grown produce to restaurants across Detroit. They recently received a $10,000 grant to help grow their business from the New Economy Initiative’s small business challenge, and his farm was among one of five...
  • The Oil-Price-Shock Contagion-Transmission Pathway

    12/15/2014 4:40:28 PM PST · by Lorianne · 17 replies
    Zero Hedge ^ | 14 December 2014 | Tyler Durden
    As we noted previously, counterparty risk concerns (and thus financial system fragility) are starting to rear their ugly heads. In the mid 2000s, it was massive one-way levered bets on "house prices will never go down again." When the cracks started to appear, the mark-to-market losses in derivatives led to forced liquidations and snowballed systemically. In the mid 2010s, it is massively levered one-way asymmetric bets on "commodity prices [oil] will never go down again." Meet WTI-structured-notes... the transmission mechanism for oil-price-shocks blowing up the financial system. Because nothing says exuberant ignorance like limited upside, unlimited downside OTC (illiquid) derivatives...
  • (UK) Low pay and zero-hours contracts rise dramatically, figures show

    12/14/2014 7:36:35 PM PST · by Lorianne · 3 replies
    Guardian UK ^ | 13 December 2014 | Yvonne Roberts
    TUC report shows 1 in 12 in labour force now in ‘precarious employment’, huge rise since 2008 ___ New figures have revealed the dramatic spread of low-paid, insecure and casual work across the British economy since the financial crash of 2008. In that year, one in 20 men and one in 16 women worked in the casualised labour market. Now, one in 12 of both men and women are in precarious employment, which includes zero-hours contracts (ZHCs), agency work, variable hours and fixed-term contracts, according to new TUC data. According to the analysis, in 2008 there were 655,000 men in...
  • Oil price crash means £55bn of projects face axe

    12/14/2014 7:34:21 PM PST · by Lorianne · 6 replies
    Telegraph (UK) ^ | 13 December 2014 | Andrew Critchlow
    Dozens of new oil projects in the North Sea and Europe could be shelved as falling prices force international oil companies to tear up their investment plans. Global energy consultancy Wood Mackenzie has said that 32 potential European oil field developments containing 4.9bn barrels of oil equivalent are waiting for approval on more than $87bn (£55bn) of funding. These could be at risk should oil prices fall below $60 per barrel. “Major projects and investment in the UK and across Continental and Mediterranean Europe could be at risk if prices stay below $80 per barrel, as over 70pc of the...
  • Germany to be gas powered for next 70 years

    12/14/2014 7:32:33 PM PST · by Lorianne · 12 replies
    RT ^ | 12 December 2014
    Germany’s plan to phase out nuclear energy and switch to renewables by 2022 is unrealistic as the country is doomed to remain dependent on fossil fuels like oil and gas for the next 70 years, energy expert Matthias Dornfeldt told RT. Renewables can’t replace fossil fuels overnight because there’s not enough infrastructure, said Dornfeldt in an interview with RT. He believes the 21st century will be the century of gas, as the 20th century was the century of oil. “We are going to be dependent on oil as well as on gas, as I see, for the next 50, 60,...
  • The Violent Threat Near UVA that Rolling Stone Downplayed

    12/12/2014 8:14:29 PM PST · by Lorianne · 9 replies
    Nationl Review ^ | 12 December 2013 | Jim Geraghty
    There is one more bitter, tragic irony to Rolling Stone’s erroneous coverage of allegations of gang rape at the University of Virginia. Evidence is mounting that young women on the campus indeed faced a violent threat for a long time. It just didn’t come from fraternities or the student body. On September 13, 18-year-old University of Virginia student Hannah Graham disappeared; authorities recovered her remains from a rural part of Albemarle County, Va., on October 18. Police arrested Jesse Matthew Jr. on September 25, and he was charged in the disappearance of Graham. What’s astounding is how many young women...
  • Same author of UVA gang rape reported on Philadelphia Catholic church sexual abuse (vanity)

    12/11/2014 10:09:13 AM PST · by Lorianne · 5 replies
    Rolling Stone article w/ Ederly byline | 11 December 2014 | self
    The Catholic Church's Secret Sex-Crime Files How a scandal in Philadelphia exposed documents that reveal a high-level conspiracy to cover up decades of sexual abuse By Sabrina Rubin Erdely | September 6, 2011 Read more: http://www.rollingstone.com/culture/news/the-catholic-churchs-secret-sex-crime-files-20110906#ixzz3Lc7wveco
  • Representative of reportedly captured in Turkey (may have been involved in Benghazi attack)

    12/09/2014 5:39:17 PM PST · by Lorianne · 5 replies
    John Batchelor Show ^ | John Batchelor inteview Long War Journal journalists
    Capture of an Ayman al Zawahiri coordinator discussed with the journalists of Long War Journal. Discussion of whether he was involved in the Benghazi attack. Podcast.
  • Japanese Unearth Remains, and Their Nation’s Past, on Guadalcanal

    12/05/2014 7:55:58 PM PST · by Lorianne · 54 replies
    New York Times ^ | 29 November 2014 | Martin Fackler
    GUADALCANAL, Solomon Islands — Using a trowel to dig into the shadowy floor of the rain forest, pausing only to wipe away sweat and malaria-carrying mosquitoes, Atsushi Maeda holds up what he has traveled so far, to this South Pacific island, to find: a human bone, turned orange-brown with age. Mr. Maeda, 21, was looking for the remains of missing Japanese soldiers at the site of one of World War II’s most ferocious battles. Others have done this work before him, mostly aging veterans or bereaved relatives. But he was with a group of mostly university students and young professionals,...
  • The Annotated Lyrics of That Incredible Hillary 2016 Song

    12/05/2014 7:21:33 PM PST · by Lorianne · 23 replies
    National Journal ^ | Emma Roller
    Super-PAC ad or Ford truck commercial? You decide. A super PAC supporting Hillary Clinton, called Stand With Hillary, has created a song that is sure to surpass Taylor Swift on the Billboard Top 100. https://www.youtube.com/watch?v=rfU3hI8ML30 VERSE 1: Lookin' back in time, learnin' hindsight's always right We came together in a way [also sounds like he's saying "in no way"] A defining moment we all can celebrate [with hamburgers and French fries!] And now it's 2016 [not really, no] and this time I'm a thinkin' Guys put your boots on, and let's smash this ceiling! [smashes what appears to be a...