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Jul 27, 2010

THE GATA DISPATCH: Jay Taylor interviews Swiss America's Fred Goldstein on investing in real metal ... July 27th., 2010

Jay Taylor interviews Swiss America's Fred Goldstein on investing in real metal

11:40p ET Tuesday, July 27, 2010
Dear Friend of GATA and Gold (and Silver):
On his most recent weekly Internet radio program, "Turning Hard Times into Good Times," newsletter writer Jay Taylor interviewed longtime GATA supporter Dr. Fred Goldstein of Swiss America Trading Corp. in Phoenix. They discussed GATA's work, the mechanism for holding gold in an Individual Retirement Account, and a gold coin investment strategy. You can listen to the interview here:
http://www.webeatthestreet.com/media/archives/SwissAmerica20100713.mp3
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Stewart Thompson: Central banks will push gold up to rescue asset prices


10:30p ET Tuesday, July 27, 2010
Dear Friend of GATA and Gold:
In commentary posted tonight at 321Gold, newsletter writer Stewart Thompson joins those who expect central banks to revalue gold upward and devalue their own currencies. Thompson writes:
"There is a middle step between quantitative easing and money printing, and it is gold revaluation. No confiscation is needed in the current crisis to make revaluation 'work,' because so few people own gold. The major central banks are already committed to major long-term gold buy programs (the opposite of the 1990s), and these buy programs are the mechanism of gold revaluation under a sort of guise of currency reserves diversification.
"The central 'banksters' aren't stupid; they didn't get the market all wrong and accidentally sell their gold holdings into the end of the gold bear market, any more than the current buy programs are 'knee-jerk' reactions to a rising gold price.
"The buy program is about gold revaluation, not rushing to buy gold as an asset. As QE is more and more broadly deemed a failure in the fund community, the central banks will step up their gold buy programs, stepping UP the price they pay for the gold, with tremendous vigor.
"The buy programs of the central banks are not about adding gold to diversify their forex reserves; they are about devaluing paper money to raise asset prices, as blown marked-to-model OTC derivatives can then be marked to market."
Thompson's commentary is headlined "It IS 2008 Again. So What's in Play?" and you can find it at 321Gold here:

http://www.321gold.com/editorials/thomson_s/thomson_s_072710.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Hinde Capital's Ben Davies talks gold price suppression on CNBC

10:10p ET Tuesday, July 27, 2010
Dear Friend of GATA and Gold:
Somehow Hinde Capital CEO and GATA adherent Ben Davies keeps getting on business television programs to make subversive remarks about the gold market. Today Davies was interviewed for a few minutes by CNBC's Maria Bartiromo and observed matter-of-factly that central banks and "paper gold" have been suppressing the gold price to mask currency mismanagement. Bartiromo even seemed glad to have Davies on the show. You can watch it at the CNBC archive here:
http://www.cnbc.com/id/15840232/?video=1552984313&play=1
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Join GATA here: New Orleans Investment Conference
Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel
http://www.neworleansconference.com/redirect.php?page=index.html&source_...

* * *
Support GATA by purchasing a colorful GATA T-shirt:
http://gata.org/tshirts
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
http://www.goldrush21.com/
* * *
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:

http://www.gata.org/node/16


MarketWatch : Industry .- Financial services.- Stocks to Watch: Stocks to watch Wednesday: ConocoPhillips. July 27th., 2010





INDUSTRY- FINANCIAL SERVICES


 Stocks to Watch: Stocks to watch Wednesday: ConocoPhillips
 
By Rebecca L. McClay MarketWatch



Among the companies whose shares are expected to see active trade in Wednesday’s session are ConocoPhillips, Coca-Cola Enterprises and Boeing. 




By Alistair Barr MarketWatch



Affiliated Managers Group reports quarterly profit that is more than double levels of a year earlier as the company scooped up more fees from some of the hedge-fund businesses it owns stakes in. 


 

CNBC: Personal Finance Daily. July 27th., 2010.


MarketWatch

Personal Finance Daily
JULY 27, 2010

Tuesday's Personal Finance stories

By MarketWatch




Don't miss these top stories:

Working is not always easy. There's the stress, long hours and the worry that you're not doing a good enough job to avoid the ax, and, for many these days, more work and more stress as employers trim their workforce ranks and let the lucky ones pick up the slack.

But getting that ax, and especially suffering a long bout of joblessness after that "termination," is pain on another scale entirely. No paycheck coming in, nowhere to go during the day, the feeling that you're not good enough -- even if you are fully aware that macroeconomic forces far beyond your control are what's to blame for your predicament.

Read Ruth Mantell's Diary of a Recession Baby today for more on the mental-health costs that come with a long-term bout of unemployment, plus some tips for how to deal.

If only it were possible to treat unemployment like it was a vacation. Unfortunately, that's not possible for most jobless workers.

-- Andrea Coombes , Personal Finance editor

Long-term unemployment is hard on your health

Long-term unemployment doesn't just drain your wallet, it's mentally exhausting. Self-respect may suffer, family relationships are stressed, and relationships with close friends may end, according to a recently released report from the Pew Research Center.
See story on long-term unemployment is hard on your health.



INVESTING
Four market myths that won't die

Investors hear the standard calming myths over and over again. Brett Arends discusses four that need extra scrutiny.
 Watch video on four market myths that won't die.


THE GULF OIL SPILL

BP taking $10 billion tax credit from Gulf oil spill

Oil giant BP PLC will reduce its contribution to U.S. coffers by roughly $10 billion due to a tax credit the company is claiming it incurred from the Gulf of Mexico oil spill.
See story on BP taking $10 billion tax credit from Gulf oil spill.


REAL ESTATE

U.S. home prices increase 1.3% in May from April

The price of residential housing rose in May on the back of strong sales in the spring, but analysts said they doubted the gain would be sustainable in coming months as the housing sector continued to struggle.

CNBC : Evening Brief.- Latest Stories .July 27th., 2010


LATEST STORIES


»click here to see the latest top stories from CNBC.com

LATEST VIDEO

 Pulse of Madison Ave
Discussing the state of the U.S. advertising industry as well as just how realistic the television show "Mad Men" is, with advertising guru Jerry Della Femina.
» Watch Video

Consumer Confidence
Insight on the latest consumer confidence data, with CNBC's Rick Santelli and Ken Goldstein, The Conference Board and Dan Veru, Palisade Capital Mgmt.
» Watch Video

S&P/Case-Shiller Results
Insight on the latest home price data and what they mean for the housing market, with Maureen Maitland, Standard & Poor's VP of Index Services.
» Watch Video

 

ABC News : Australia Business.-Inflation tipped to exceed RBA's target. July 27th., 2010


Opposition questions Government's housing plan for mining towns
The Queensland Opposition has expressed reservations about a State Government plan for affordable housing in mining towns.

Inflation tipped to exceed RBA's target
An election campaign interest rate rise could be on the cards if today's official inflation figures reveal a strong rise in consumer prices.

Opposition matches Brisbane-Redcliffe rail link pledge
The Federal Opposition has matched Labor's pledge to build a long-awaited rail line to the Redcliffe peninsula, north of Brisbane.

More Business Stories > 

NYT : Afternoon Business Update.- Tobacco Funds Dwindle as Obesity Fight Intensifies. July 27th., 2010




Tobacco Funds Dwindle as Obesity Fight Intensifies

By DUFF WILSON
As public health priorities shift, anti-tobacco programs are losing out to the campaign against obesity.

Pushed Along by Wind, Power Storage Grows

By MATTHEW L. WALD
Utilities are developing batteries to smooth the flow of the intermittent sources of power, like wind farms.

G.M. Puts $41,000 Price Tag on the Volt

By NICK BUNKLEY
The carmaker has begun taking orders for the plug-in vehicle, which is expected to be at dealers in November.

More Job-Seekers Hitch Ride on Asian Economy

By BETTINA WASSENER
European and American job seekers are hoping that Asia is a place where opportunities match their ambitions.

UBS and Deutsche Bank Report Gains for Second Quarter

By JACK EWING and BETTINA WASSENER
Shares of both banks rose sharply after they reported second-quarter earnings, signaling renewed confidence in European banks.

RTTNews: Evening Market Wrap .-Stocks End Mixed As Economic Data, Earnings Polarize Sentiment - U.S. Commentary . July 27th., 2010.

Evening Market Wrap Tue Jul 27 17:01 2010 

Commentary

Jul 27, 2010 Stocks End Mixed As Economic Data, Earnings Polarize Sentiment - U.S. Commentary Stocks closed on opposite sides of the unchanged mark on Tuesday, as a mixed batch of economic data and solid quarterly earnings results divided market sentiment on the day. While the Dow eked out a modest gain, the Nasdaq and the S&P 500 declined by slim margins. Full Article

Earnings News

Jul 27, 2010 Lockheed Martin Q2 Profit Rises; Boosts FY10 EPS Outlook - Update Defense contractor Lockheed Martin Corp. (LMT) Tuesday reported a rise in second-quarter profit, helped by higher sales and gains from discontinued operations. Further, the company raised its full-year earnings per share outlook to reflect lower share count, but lowered its revenue forecast to include an anticipated business sale. Full Article
Jul 27, 2010 DuPont Q2 Profit Soars, Tops Estimate; Raises 2010 View - Update Chemicals giant EI DuPont de Nemours & Co. (DD) Tuesday reported a surge in second-quarter profit, driven by higher volume and price increases across its business segments that led to a total net sales growth of 26%. Both adjusted earnings per share and net sales exceeded Wall Street analysts' estimates. The Wilmington, Delaware-based company also lifted its adjusted earnings per share outlook for fiscal 2010. Full Article
Jul 27, 2010 Consumer Confidence Drops To Five-Month Low In July With consumers growing increasingly more pessimistic about the short-term outlook, the Conference Board released a report on Tuesday showing that consumer confidence retreated further in July after falling sharply in June. The Conference Board said its consumer confidence index fell to 50.4 in July from an upwardly revised 54.3 in June. Economists had expected the index to slip to a reading of 51.0 compared to the 52.9 originally reported or the previous month. Full Article
Jul 27, 2010 Office Depot Q2 Loss Sharply Narrows Office products supplier Office Depot, Inc. (ODP) reported Tuesday a sharply narrower year-over-year loss for the second quarter, boosted by better margins, absence of a year-ago charge, and strong execution across its divisions. The quarterly loss was much smaller than analysts were expecting, and also exceeded the company's expectations. Still, quarterly sales declined 4% and missed analysts' expectations by a whisker. Full Article

Forex Top Story

Jul 27, 2010 Dollar Steadies As Consumer Confidence Dwindles The dollar found its footing versus the euro and yen after struggling for most of Tuesday's session, bolstered by another round of disappointing economic data that spurred a move back into safer havens. Although the dollar touched its lowest level since May versus the euro, it was steady by mid-day after a dismal reading on consumer confidence spooked investors on Wall Street. Full Article

Political News

Jul 27, 2010 Poll Shows Gap In Opinions On Immigration Narrows SlightlyWhile the results of a Gallup poll released Tuesday showed that Americans are more likely to say immigration should be decreased rather than kept at its current level, the gap between the two opinions has narrowed since last year. The poll showed that 45 percent of Americans say immigration should be decreased compared to 34 percent who say that it should be kept at current levels. Full Article
Jul 27, 2010 Obama Urges Additional Congressional Action Before August RecessPresident Barack Obama Tuesday called on the leaders in the House and Senate to advance an ambitious legislative agenda before the August Congressional Recess. Obama, speaking after a meeting with top Democrats and Republicans from both chambers, said he had reminded the legislators of the need to pass additional bills in a host of areas. Full Article

MarketWatch: Industry - Financial Services Fannie, Freddie jump as housing-reform push starts. July 27th., 2010





INDUSTRY: FINANCIAL SERVICES



Fannie, Freddie jump as housing-reform push starts

By Alistair Barr MarketWatch
7/27/2010 12:36:00 PM


Fannie Mae and Freddie Mac shares jump as a push to reform the U.S. housing-finance system gets underwaySee full story

White House schedules Fannie-Freddie conference

By Ronald D. Orol MarketWatch


The Obama administration has scheduled an Aug. 17 conference on the U.S. housing finance system, including mortgage-finance giants Fannie Mae and Freddie Mac, according to a White House release. See full story


By Ronald D. Orol MarketWatch


The Securities and Exchange Commission is committed to adopting rules that would give greater power to shareholders and investors next year, the nation's top securities regulator says. 



By Simon Kennedy MarketWatch


The U.K.’s Financial Services Authority slaps a fine of 320,000 pounds ($495,000) on David Jones, the former finance director of Northern Rock, for helping disguise the level of arrears at the bank. See full story






RTTNews: Daily Market Analysis.- Traders Eye Consumer Confidence Data Even As Earnings Encourage . July 27th., 2010

Daily Market Analysis Tue Jul 27 09:06 2010 


Jul?27,?2010 Traders Eye Consumer Confidence Data Even As Earnings Encourage - RTTNews Daily Market Analysis The major U.S. index futures are pointing to a higher opening on Tuesday. After a lull, positive data and earnings are trickling in, reinforcing confidence in the recovery's sustainability. Earlier in the day, Swiss financial giant UBS (UBS) and German bank Deutsche Bank (DB) reported forecast-beating results, while a private survey in Germany showed that consumer confidence in Europe's largest economy is set to remain strong. Full Article

RTTNews: Morning Market Briefing .-Stocks On Track For Moderate Gains In Light Of Upbeat Earnings - U.S. Commentary.- Stocks On Track For Moderate Gains In Light Of Upbeat Earnings - U.S. Commentary. July 27th., 2010

Morning Market Briefing Tue Jul 27 09:01 2010 

Commentary

Jul?27,?2010 Stocks On Track For Moderate Gains In Light Of Upbeat Earnings - U.S. Commentary Stocks are poised to open Tuesday's session moderately higher, as traders are digesting upbeat quarterly results from the likes of DuPont (DD) while awaiting data on home prices and consumer confidence. The major index futures are all in positive territory, with the Dow futures up by 62 points. Full Article

Economic News

Jul?27,?2010 Eurozone June Private Sector Credit Growth ImprovesEurozone private sector credit continued to increase modestly on an annual basis in June. Full Article
Jul?27,?2010 Basel Committee Reaches Agreement On Banking ReformsA committee of global central bankers and regulators came to agreement on Monday over a series of new rules for banks so that they can withstand future shocks in the financial sector. Full Article
Jul?27,?2010 German Consumer Optimism Rises German consumers are becoming more optmistic about the future, a study found, boding well for a continuing recovery in Europe's largest economy. The data adds to the recent run of positive news and comes on heels of another survey, which showed that German business climate improved significantly. Full Article
Jul?27,?2010 Indian Central Bank Raises Key Rate, Growth Outlook The Reserve Bank of India Tuesday raised its key interest rates for the fourth time this year to curb surging inflation. The central bank also lifted its economic growth and inflation outlook. Full Article
Jul?27,?2010 U.K. Retailers Increasingly Optimistic About Sales GrowthU.K. retail sales rose more than expected in July and retailers' expect the strong growth to continue in the coming months, the Confederation of British Industry said Tuesday, citing results of its latest distributive trades survey. Full Article

Earnings News

Jul?27,?2010 Lockheed Q2 profit up 12.4%, beats Street; boosts FY10 EPS viewTuesday, Lockheed Martin Corp. (LMT) reported a 12.4% rise in profit for the second quarter, as revenue grew 3.3% from the previous year. Earnings per share came in above the Street view. Earnings from continuing operations, however, decreased slightly year-over-year. Looking forward, Lockheed Martin lifted its earnings guidance for the full year. Full Article
Jul?27,?2010 BP plc posts huge Q2 loss, to take $32 bln charge; Dudley to replace Hayward as new CEOTuesday, BP plc (BP) reported a record loss of $17.2 billion in the second quarter and took $32.2 billion in charges to cover expenses related to the devastating oil spill in the Gulf of Mexico. The company also revealed that Tony Hayward will step down as chief executive, effective October 1, 2010, and will be replaced by fellow executive director Robert Dudley. Full Article
Jul?27,?2010 SAP Q2 profit rises 15%Tuesday, SAP AG (SAP) reported a 15.2% rise in profit for the second quarter, reflecting a 12% increase in revenue, as the company experienced business growth in the U.S as well as in emerging markets. Looking ahead for the full-year, the company expects 9% - 11% growth in non-IFRS software and software-related service revenue at constant currencies. Full Article
Jul?27,?2010 UBS turns to profit in Q2Tuesday, UBS AG (UBS) returned to a profit in its second quarter, attributable to a strong performance of its Investment Banking business, which also benefited by a hefty gain on its own debt. Revenue for the quarter surged 59% year-over-year, the company noted. Full Article
Jul?27,?2010 Teva Q2 profit rises 53%Tuesday, Teva Pharmaceutical Industries Ltd. (TEVA) reported 53% climb in second-quarter profit, reflecting a 12% growth in sales. Both adjusted earnings and revenue came in above the Street view. The company noted that sales in North America grew 17%, and improved 10% in Europe. Full Article
Jul?27,?2010 Talisman Energy Q2 profit surgesTuesday, Talisman Energy Inc. (TLM) said its second-quarter profit surged year-over-year, reflecting the absence of hefty mark-to-market losses on derivatives that dented year ago results. Revenue for the period rose 5%. The company noted that per-share earnings from continuing operations was flat with the prior-year quarter, and surpassed the Street view. Total production dipped 3.1% because of non-core asset sales. Full Article
Jul?27,?2010 Thermo Fisher Q2 profit up 15%, meets estimate; backs 2010 EPS viewTuesday, Thermo Fisher Scientific, Inc. (TMO) posted a 14.7% rise in profit for second quarter, as revenue grew 7% from the previous year. Adjusted earnings came in line with the Street view, while revenue came a tad below expectations. Looking ahead to the full year, the company reiterated its earnings guidance but lowered its revenue outlook. Full Article
Jul?27,?2010 DuPont Q2 profit almost trebles, beats Street; boosts FY10 EPS view above estimateTuesday, EI DuPont de Nemours & Co. (DD) said its second-quarter profit almost tripled, reflecting over a 25% growth in sales and a decline in costs. Both earnings and revenue came in above the Street view. Looking ahead, Dupont lifted its earnings outlook to a level that stands above the current estimate of analysts. Full Article
Jul?27,?2010 CIT Q2 profit climbs 46%Tuesday, CIT Group, Inc. (CIT) reported a 46% jump in second-quarter, although net interest revenue dropped 14.8% from the past year. The results were boosted by a 36.3% increase in other income. The company also noted that gains on the sale of assets offset a rise in loan loss provision. Full Article
Jul?27,?2010 L-3 Communications Q2 profit rises 1.3%, beats estimate; cuts FY10 viewTuesday, L-3 Communications Holdings Inc. (LLL) reported a 1.3% increase in profit for the second quarter, as revenue inched up nearly 1% from the past year. Earnings came in above the Street view, while revenue fell short of expectations. Looking ahead to the full year, the company lowered both its earnings and revenue outlook. Full Article
Jul?27,?2010 Occidental profit up 56%, yet adj. EPS misses estimateTuesday, Occidental Petroleum Corp. (OXY) reported a 56% rise in second-quarter profit, as revenue grew 29% from the past year. Adjusted earnings came in below the Street view, while revenue surpassed estimate. The company also noted that production for the period improved 3.6% year-over-year. Full Article
Jul?27,?2010 Alcon Q2 profit rises 15%; raises FY10 viewMonday, Alcon Inc. (ACL) reported a 15.1% rise in second-quarter profit, reflecting a 12.5% growth in revenue. Both earnings and revenue came in above the Street view. Looking ahead, the company also lifted its guidance for the full year. Full Article
Jul?27,?2010 Fluor Q2 profit declines 7%, yet beats estimateMonday, Fluor Corp. (FLR) said its second-quarter profit declined 7.0% from last year, hurt by weakness in its oil & gas business unit. However, both earnings per share and revenue came in above the Street view. Further, the company raised the low end its full year 2010 earnings outlook. Full Article
Jul?27,?2010 Western Union Q2 profit edges up, beats estimate by a pennyTuesday, Western Union Co. (WU) reported second-quarter profit that that barely increased from the past year. Total revenue grew 2% year-over-year, as a 15% rise in foreign exchange revenues was offset by a 23% drop in commission and other revenues. Earnings per share came in above the Street view by a cent, while revenue fell short of estimates. The company also updated its earnings and revenue guidance for the full year. Full Article
Jul?27,?2010 Cummins Q2 profit soars, beats estimateTuesday, Cummins Inc. (CMI) reported a sharp rise in its second-quarter profit, as sales grew 32% from the previous year. Both earnings and revenue came in above the Street view. Further, the company said it expects fiscal 2010 sales to surpass the current estimate of analysts. Full Article

Todays WS Events

Jul?27,?2010 Nasdaq OMX Group Q2 10 Earnings Conference Call At 8:00 AM ET Nasdaq OMX Group Inc. (NDAQ) will host a conference call at 8:00 AM ET July 27, 2010, to discuss its Q2 10 financial results. To access the live webcast, log on at http://ir.nasdaqomx.com/ The call can also be accessed by dialing 877.645.6210 (US) or 914.495.8566 (International). For replay of the call, dial 800.642.1687 (US) or 706.645.9291 (International) with Passcode 85781782.
Jul?27,?2010 Lexmark International Q2 10 Earnings Conference Call At 8:30 AM ET Lexmark International, Inc. (LXK) will host a conference call at 8:30 AM ET, July 27, 2010, to discuss its Q2 10 earnings results. To access the live audio webcast, log on at http://investor.lexmark.com
Jul?27,?2010 Lockheed Martin Q2 10 Earnings Conference Call At 11:00 AM ET Lockheed Martin Corporation (LMT) Bob Stevens CEO, will host a conference call at 11:00 AM ET July 27, 2010, to discuss its Q2 10 financial results. To access the live webcast, log on at www.lockheedmartin.com/investor
Jul?27,?2010 United States Steel Q2 10 Earnings Conference Call AT 2:00 PM ET United States Steel Corporation (X) will host a conference call at 2:00 PM ET, July 27, 2010, to discuss its Q2 10 earnings results and may include forward-looking information. To access the live webcast, log on www.ussteel.com
Jul?27,?2010 Broadcom Q2 10 Earnings Conference Call At 4:45 PM ET Broadcom Corporation (BRCM) Scott McGregor CEO, will host a conference call at 4:45 PM ET, July 27, 2010, to discuss its Q2 10 earnings results. To access the live webcast, log on at www.broadcom.com/investors
Jul?27,?2010 EI DuPont Q2 10 Earnings Conference Call At 9:00 AM ET EI DuPont De Nemours & Co. (DD) will host a conference call at 9:00 AM ET, July 27, 2010, to discuss its Q2 10 earnings results. To access the live webcast, log on at http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=73320&eventID=2660073
Jul?27,?2010 L-3 Communications Q2 10 Earnings Conference Call At 10:00 AM ET L-3 Communications Holdings Inc. (LLL) will host a conference call at 10:00 AM ET July 27, 2010, to discuss Q2 10 earnings results. To access the live webcast, log on at www.L-3com.com A replay of the call, dial 888-286-8010 with passcode 61892765.
Jul?27,?2010 CA Technologies Annual Meeting Of Stockholders At 10:00 AM ET CA Technologies (CA) will host its 2010 Annual Meeting of Stockholders on July 27, 2010. The event is scheduled to begin at 10:00 AM ET. To access the live webcast, log on at http://investor.ca.com

Stocks To Watch

Jul?27,?2010 A silver lining in the cloud...Despite the recession and unstable economic recovery, this data-integration software maker has been growing year-over-year every quarter, for six consecutive years, and boasts a customer base exceeding 4,000. Full Article

Money Morning: July 27th., 2010.- Has the U.S. Lost its Grip on the Credit-Rating Business? July 27th., 2010


July 27, 2010
How Bill Boswell Made $405,000 Last Year
Bill Boswell was down $325,000 when he decided to try something different. Given where he was, it was quite a leap of faith. But in just one year, he made it all back… and was up $80,000 last time we heard from him. If you need to recoup losses fast, this is how Bill Boswell did it.



Has the U.S. Lost its Grip on the Credit-Rating Business?

[Editor's Note: Money Morning's Martin Hutchinson, a noted commentator, author and longtime international merchant banker, outlines how the credit-rating-agency business will function in the post-financial-crisis world - and explains what that will mean for investors. His predictions may surprise you.]

By Martin Hutchinson, Contributing Editor, Money Morning


There's a new name in the credit-rating-agency business these days: It's Dagong Global Credit Rating Co. Ltd., and this Beijing-backed business is China's bid for a spot in the global-credit-rating oligopoly.

And Dagong's Chairman Guan Jianzhong doesn't think much of his long-established U.S. competitors.

"The Western rating agencies are politicized and highly ideological and they do not adhere to objective standards," Jianzhong told The Financial Times earlier this month.

Is he right? And does the newly passed Wall Street Reform and Consumer Protection Act correct their flaws, or does it make matters worse? It's a question that affects all investors - even those of us that don't invest in bonds, as we'll soon see.

To understand how credit-raters will influence investments going forward, please read on...

Hutchinson on...
--
The CIVETS: Windfall Wealth From the ‘New’ BRIC Economies
--
The Global Double-Dip Recession: Which Markets to Hold… And Which Ones May Fold



Who cares if this technology changes the world? I don't. I only care that this stock, which is trading for just pennies, hits $0.50 in the next three months!
Right now, you can buy 10,000 shares for just $250… and when it hits 50 cents, those shares will be worth a cool Five-Grand! For just $500, you can pick up 20,000 shares that could be worth an amazing $10,000 by the end of the summer.

Sounds too easy? Well it is. Once you read my Free report (by clicking here) you’ll see exactly why… heck, you may want to pick up a hundred thousand shares right now!


BP Hopes for a CEO Savior in American Robert Dudley

By Kerry Shannon, Associate Editor, Money Morning

BP PLC (NYSE ADR: BP) plans to oust Chief Executive Officer Tony Hayward from the top spot and to appoint Robert Dudley - an American and an insider - in an attempt to regain U.S. trust after a highly criticized, ineffective response to the Gulf oil spill.

BP is expected to announce the change today (Tuesday) when it releases its second-quarter financial report and Hayward addresses shareholders. The official appointment would be effective Oct. 1 - following a transition period that would give BP time to permanently seal the massive oil leak and to clean up most of the five million barrels of oil that have polluted the Gulf region as a result of the worst environmental disaster in U.S. history.

Read full story...





Battle Over Expiring Bush Tax Cuts Likely to Shape Fall Elections

By Don Miller, Associate Editor, Money Morning

A colossal battle is shaping up in Congress over what to do about the Bush-era tax cuts that are set to expire at the end of this year. It's an issue that entails sufficient economic and political consequences that could shape the fall elections and fiscal policy for years to come.

The expiring tax breaks received little public attention this year as Congress tussled with heavyweight issues like healthcare reform and financial regulation. But the fate of the tax cuts will be a major focus of debate in September when lawmakers return to Washington from their summer recess and the midterm campaign gets rolling.

"It has enormous ramifications for the fall and clearly will be one of the dominant issues," Sen. Ron Wyden, D-OR, told The New York Times. "This is code for the role of the federal government, the debate over the size of government and the priorities of the nation."

Democratic party leaders, including President Barack Obama, have said they want to extend the tax cuts for individuals earning less than $200,000 and families earning less than $250,000, while letting the cuts expire as scheduled for those exceeding those thresholds.

Most Republicans, and some Democrats, want to extend the tax cuts for everyone, characterizing any tax increases on anyone in this fragile economy as unwise. If no action is taken, taxes on income, dividends, capital gains and estates will all rise.

Read full story...

NYT: Business.- Retailers Pay More to get Cargo ( No Guarantee). July 27th., 2010


Retailers Pay More to Get Cargo (No Guarantee)
By STEPHANIE CLIFFORD
As retailers cut inventory, the shipping industry scaled back, leading to higher prices and regular delays.

Road to New Confidence at BP Runs Through U.S.
By JULIA WERDIGIER and JAD MOUAWAD
The expected choice of Robert Dudley as BP’s next chief executive shows a recognition that the spill will be a top concern for some time.

Panel Seen Approving F-35 Engine, Risking Veto
By CHRISTOPHER DREW
Despite increasing calls for deficit reduction, one program opposed by the White House — an alternate engine for the joint strike fighter — so far refuses to die.

More Business News

The Washington Post : Today's Highlights.- Business.- Basel panel reaches deal on bank rules


TODAY'S HIGHLIGHTS

After war leak, anger but no calls for change
In the first 24 hours after the unauthorized release of more than 91,000 secret documents about the war in Afghanistan, a few things became clear to the officials, lawmakers and experts reading them:
(By Greg Jaffe and Peter Finn, The Washington Post)

Among House Democrats, a sense of abandonment
Carbon-cap backers say party leaders left them exposed on hated issue
(By Paul Kane and Shailagh Murray, The Washington Post)

Violence accompanies cartels in move south
Murder rates soar as Mexican drug gangs besiege Central America
(By Nick Miroff and William Booth, The Washington Post)

Pentagon faulted on control of fund
IG: $2.6 billion in Iraqi oil revenue unaccounted for
(By Ernesto Londoño, The Washington Post)

Tally of fatalities grows in wake of summer heat wave
(By Lena H. Sun, The Washington Post)


POLITICS
Afghan intelligence contracts apply some limits
After more than eight years of fighting in Afghanistan, the United States and its NATO coalition partners continue to hire private contractors to support their intelligence and counterintelligence analyses and operations in that country.
(By Walter Pincus, The Washington Post)

Among House Democrats, a sense of abandonment
Carbon-cap backers say party leaders left them exposed on hated issue
(By Paul Kane and Shailagh Murray, The Washington Post)

After war leak, anger but no calls for change
Officials and experts largely dismiss impact on Afghan conflict
(By Greg Jaffe and Peter Finn, The Washington Post)

Democrats face dilemma in Rangel trial
Concern grows that ethic proceedings may affect midterm elections
(By Paul Kane, The Washington Post)

The Web giveth, and the Web taketh away
(By Dana Milbank, The Washington Post)

More Politics

NATION
Truly no place like home
Yahye Wehelie, 26, born and raised in Fairfax County, was supposed to have been home this spring, telling friends and family about his 18-month stay in Yemen: the technology classes, his quest for a Muslim bride, the wedding and reception that featured a DJ playing music by Michael Jackson and...
(By Ian Shapira, The Washington Post)

Disputed chemical detected in receipts
(By Lyndsey Layton, The Washington Post)

After war leak, anger but no calls for change
Officials and experts largely dismiss impact on Afghan conflict
(By Greg Jaffe and Peter Finn, The Washington Post)

Afghan intelligence contracts apply some limits
(By Walter Pincus, The Washington Post)

The Web giveth, and the Web taketh away
(By Dana Milbank, The Washington Post)

More Nation

WORLD
Violence accompanies cartels in move south
SAN SALVADOR -- Drug cartel violence in Mexico is quickly spilling south into Central America and is threatening to destabilize fragile countries already rife with crime and corruption, according to the United Nations, U.S. officials and regional law enforcement agents.
(By Nick Miroff and William Booth, The Washington Post)

Allegations 'misplaced,' Pakistan says
(By Joshua Partlow and Karin Brulliard, The Washington Post)

A test of power and popularity
Young chief minister attempts to quell protests amid criticism of his leadership
(By Emily Wax, The Washington Post)

European Union imposes new economic sanctions against Iran
Move comes after strong pressure from Obama administration
(By Edward Cody, The Washington Post)

After war leak, anger but no calls for change
Officials and experts largely dismiss impact on Afghan conflict
(By Greg Jaffe and Peter Finn, The Washington Post)

More World

METRO
Cooler, dry day breaks heat wave
Washington's longest string of 90-degree days this year ended Monday, when the high temperature at the region's three airports failed to climb out of the 80s.
(By Martin Weil, The Washington Post)

In a heart-stopping moment, a tempest takes a young life
(By Annie Gowen, The Washington Post)

Online federal benefits calculators
(The Washington Post)

The power of community keeps neighborhood going
Storm outages abound in Rock Creek Woods, but so does goodwill
(By Theresa Vargas, The Washington Post)

Local Digest
(The Washington Post)

More Metro

BUSINESS
BP names American as its new chief executive
For a London-based petroleum company that relies largely on oil produced in the United States and Russia, Robert Dudley might be just the ticket.
(By Steven Mufson, The Washington Post)

Basel panel reaches deal on bank rules
Accord is first step in creating common global standards
(By Howard Schneider, The Washington Post)

Among House Democrats, a sense of abandonment
Carbon-cap backers say party leaders left them exposed on hated issue
(By Paul Kane and Shailagh Murray, The Washington Post)

Setting limits
(The Washington Post)

DIGEST
(The Washington Post)

More Business

 

The Wall Street - India Update. July 27., 2010. July 27th., 2010


July 27, 2010 -- 12:00 p.m.
RBI Raises Rates to Tame Inflation
India's central bank raised its main lending rate by 0.25 percentage point and its borrowing rate by a larger-than-expected 0.50 percentage point, as it seeks to quell double-digit inflation.

Ex-Spy Depicted as Taliban Link
U.S. intelligence reports paint a picture of Hamid Gul and the Pakistani spy agency that he headed in the late 1980s as working in recent years to attack U.S. interests in Afghanistan.

Sadanand Dhume: Pakistan: A Sanctuary for Terror
The militants wage war in Afghanistan while using Pakistan as a place for rest, recuperation and recruitment.

War Leak Prompts Damage-Control Bid
White House officials, on the defensive over Afghan war strategy, scrambled to keep a leak of secret military documents from eroding allies' support.

Papers Could Feed War Doubts
The release of some 76,000 internal military documents could serve to crystallize doubts about the war in Afghanistan, much as the Pentagon Papers did for the war in Vietnam.
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Website Releases Secrets on Afghan War
Thousands of secret military documents released by a Web-based organization appeared to present a bleak view of the Afghanistan war, and could have a profound impact on public perception.

How Green Is My Sneaker?
A group of roughly 100 well-known apparel brands and retailers have developed a software tool to help them measure the environmental impact of their apparel and footwear, from raw material to garbage dump.

India Games Plan Becomes a Sprint
India is facing challenges in its bid to become the latest developing nation to pull off a polished global sporting event.

When Your Co-Worker Is Your Spouse
Many couples who once led separate work lives have had to go into business together?often for reasons related to the recession. Financial stress, long hours and pet peeves can undermine a marriage in such setups.

Fast and Furious in Hyderabad
The four-day Hyderabad International Auto Show kicked off on Thursday. Some snapshots.