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May 30, 2012

Gerald Celente Interviews: Tommy Schnurmacher Show - May 29, 2012

NYT Breaking news: New York Plans a Ban on Big Sizes of Sugary Drinks

Breaking News 
 The New York Times
Wednesday, May 30, 2012

New York Plans a Ban on Big Sizes of Sugary Drinks

New York City plans to enact a far-reaching ban on the sale of large sodas and other sugary drinks at restaurants, movie theaters and street carts, in the most ambitious effort yet by the administration of Mayor Michael R. Bloomberg to combat rising obesity.

The proposed ban would affect virtually the entire menu of popular sugary drinks found in delis, fast-food franchises and even sports arenas, from energy drinks to pre-sweetened iced teas. The sale of any cup or bottle of sweetened drink larger than 16 fluid ounces — about the size of a medium coffee, and smaller than a common soda bottle — would be prohibited under the first-in-the-nation plan, which could take effect as soon as next March.

Read More:

NYT Global Update:: India's Economy Slows, With Global Implications

Global Update


Taylor Receives 50 Years for 'Heinous' Crimes in War

Charles G. Taylor, a former president of Liberia and the first former head of state convicted in an international court since World War II, was sentenced for crimes in Sierra Leone.

British Court Clears Way for Extradition of WikiLeaks Founder

Britain's highest court ruled on Wednesday that the WikiLeaks founder, Julian Assange, should be deported to Sweden to face allegations of sexual abuse there.

Ex-Aide to Cameron Detained in Perjury Case

Andy Coulson, the former editor of The News of the World, is held on suspicion of lying under oath about phone hacking during his testimony in a 2010 case involving a Scottish politician.

Video: TimesCast

Julian Assange's plea to fight extradition is denied, and more.

Opinionator | Borderlines

Ephemeral Islands

How lowly seamounts, which barely top the ocean's surface, can rewrite international relations.

India's Economy Slows, With Global Implications

India's problems have dampened hopes that it, along with China and other non-Western economies, might help revive global growth.

In China, a New Round of Stimulus

Spooked by a slowing economy, leaders have begun opening the financial spigots, but they are signaling that the spending will fall short of levels during the downturn.

As Afghan Detainees Are Transferred, U.S. Keeps Its Grip

Operations at the Parwan Detention Facility point out a gap between nominal Afghan control and the reality of lasting American authority.

A Lawyer Skilled at Scandal Cleanup Presses for Tougher Banking Rules

Dennis Kelleher, who built a reputation cleaning up after crises, runs Better Markets, a nonprofit that pushes for tighter regulation of American banks.

European Officials Caution France and Warn of Challenges in Spain

Call for greater integration comes as the European Commission prodded national capitals to live up to the budget rules they had already agreed on.

Europe Fears Bailout of Spain Would Strain Its Resources

With a bailout of Spain becoming a more distinct possibility, European policy makers are questioning who will provide the money that Madrid needs to stay in business.

Wasting Time Is New Divide in Digital Era

As access to devices has spread, children in poorer families are spending considerably more time using them for purposes other than for education.

Technical Trading Issues to Blame for Facebook's Fall, Meeker Says

Speaking at the AllThingsD D10 conference on Wednesday, the former Morgan Stanley analyst described Facebook's initial public offering as a "financial tsunami," but placed most of the blame on the string of technical glitches that affected Facebook's stock on its first day of trading.
Bits Blog

RIM Shares Drop, and Analysts Warn of Further Trouble

Research in Motion's warning that it may lose money in its current quarter pushed down the BlackBerry maker's already depressed shares and led analysts to say the worst is yet to come.

A Risky Trip Outside the Protective Cocoon

England's players will visit Auschwitz before the start of Euro 2012, but who knows how players will respond to what they see?

Concerns of Racism Ahead of Euro 2012

British authorities fear racial abuse of players and fans in Poland and Ukraine, hosts of the soccer championships, and the families of two of England's black players say they may not attend.

Djokovic, Azarenka Advance; Federer Sets Record With Win

With a victory in the second round at the French Open, Roger Federer broke a tie with Jimmy Connors for most career wins at major tournaments in the open era.

After Seeing a Dismal Reflection of Itself, a City Moves to Change

Residents of Lawrence, Mass., are banding together to try to reshape the city's image, battered by unemployment, high crime rates and investigations of officials.

College Gap Grows, Leaving Manufacturing Cities Behind

Cities that once depended on manufacturing jobs are finding it hard to compete with already highly educated areas for college graduates, a key ingredient in a transformation.

Public-Place Laws Tighten Rein on Sex Offenders

Communities around the country have gone beyond regulating where sex offenders can live and begun banning them outright from a growing list of public places.
Op-Ed Contributor

Two Homes, a World Apart

It's always a jolt to leave the buzz of Asia for a rustic setting where your heartbeat in the night can be deafening.
Op-Ed Contributors

Going Directly to Israelis and Palestinians

The U.N. should appoint a panel that would shape a peace deal acceptable to a majority of Israelis and Palestinians.
Op-Ed Contributor

How China Flouts Its Laws

The fundamental question the Chinese government must face is lawlessness. China does not lack laws, but rather the rule of law.

CBS NEWS | Political hotsheet Top Stories: Poland urges "explicit reaction" on death camp gaffe

The CBS News Political Hotsheet newsletter


Donald Tusk, Polish PM, not satisfied with White House's "regret" over president's "Polish death camp" comment
Read full story
Poland urges

Rubio taking advantage of veepstakes spotlight Florida senator has perfected the art of benefitting from national attention

Florida Dems push back against voter purge Democratic lawmakers blast Florida's process for purging potential non-citizens from state voter rolls, say proceeding with action "irresponsible"

Romney camp fixes The Romney campaign on Tuesday released an iPhone app with the misspelled phrase "A Better Amercia"

Obama congratulates Romney on GOP primary win The two men spoke by telephone in what was described as a brief and cordial conversation

DealBook | DealB%K afternoon Edition: At Gupta Trial, Seeking to Discredit Galleon Traders

Wednesday, May 30, 2012
At Gupta Trial, Seeking to Discredit Galleon Traders To discredit prosecution witnesses, lawyers defending Rajat K. Gupta, a former director of Goldman Sachs and Procter & Gamble, sought to portray the Galleon Group hedge fund as a place where traders routinely boasted about their inside connections that did not exist.
    Technical Trading Issues to Blame for Facebook's Fall, Meeker Says Speaking at the AllThingsD D10 conference on Wednesday, the former Morgan Stanley analyst described Facebook's initial public offering as a "financial tsunami," but placed most of the blame on the string of technical glitches that affected Facebook's stock on its first day of trading.
    Bain Capital Said to Plan Raising New Fund Bain Capital will soon begin raising its 11th leveraged buyout fund, with an aim of drawing in about $8 billion from investors, a person briefed on the matter told DealBook on Wednesday.
    KPN Rejects America Movil's Official Bid The Dutch telecommunications company KPN rejected an official offer from América Móvil, owned by the billionaire Carlos Slim Helú, continuing to say the $3.2 billion bid was too low. Now KPN shareholders will have a month to decide.
    Rockefeller and Rothschild Dynasties Join Forces RIT Capital Partners, the investment trust chaired by Jacob Rothschild, has agreed to buy a minority stake in the investment and wealth management firm Rockefeller Financial Services.
    A Lawyer Skilled at Scandal Cleanup Presses for Tougher Banking Rules Dennis Kelleher, who built a reputation cleaning up after crises, runs Better Markets, a nonprofit that pushes for tighter regulation of American banks, reports Annie Lowrey for The New York Times.
    Economic Reports Data released on Thursday will include the Chicago purchasing managers index for May.
    Corporate Earnings No earnings of note for the week.
    In the United States Retailers will report May sales for stores open more than a year on Thursday. A House Transportation subcommittee will conduct a hearing about realignment and consolidation at the Federal Aviation Administration. Two House Energy and Commerce subcommittees will conduct a hearing about oversight of the Nuclear Regulatory Commission. A House Energy and Commerce subcommittee will conduct a hearing about an international proposal to regulate the Internet.

    DealBook Video
    Business Day Live: India's Economy Slows
    Business Day Live: India's Economy Slows The BlackBerry maker Research in Motion projects more losses. India faces sluggish growth and tough economic choices. Most aid to Greece skips over Greek citizens.
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In Her Power by Helene Lerner

Stocks and Markets in the News | Wall Street at Close: U.S. Erased yesterday's gains, as mounting stresses on Spain banking system

SAN FRANCISCO (MarketWatch) -- U.S. stocks tumbled more than 1% Wednesday, giving up the prior session's gains, as mounting stresses on Spain's banking system and a retreat in pending home sales erased any recent optimism about the euro zone's outlook. The Dow Jones Industrial Average fell 160.83 points, or 1.3%, to 12,419.86, with only Intel Corp. ending higher among 30 components. The S&P 500 dropped 19.10 points, or 1.4%, to 1,313.32. All 10 S&P 500 sectors ended lower, led by pullbacks in energy and financial stocks. The Nasdaq Composite lost 33.63 points, or 1.2%, to 2,837.36. For the month that ends Thursday, the benchmark indexes are down at least 6%.

Money Show investors Daily Alert: 4 'Grade-A' Medical Names to Follow, Kate Stalter

Investors Daily Alert

The Daily Guru

Jim Jubak on

Today's Top Pros' Top Picks

Today's Gurus' Views & Strategies

Today's Charts in Play Exclusive Interviews

Portfolio Strategies

Ideas from Around the World

Today's Featured Videos & Exclusive Interviews
Peak Everything, Jim Jubak
Stick with the Fire Sales, Stephen McKee

Stocks and markets in the News | Oil Futures: Oil Closes at $88 a barrel, lowest close since October.

By Myra P. Saefong and V. Phani Kumar, MarketWatch 

SAN FRANCISCO (MarketWatch) — Crude-oil futures dropped Wednesday to mark their lowest close since October as the U.S. dollar strengthened and as concerns over Spain and scaled-back expectations for Chinese economic stimulus dulled the prospects for oil demand.
“It’s a continuation of the justified concerns about the dire state of the health of the European economy, which when coupled with outlooks such as my own that markets were relatively well supplied, eventually had to filter through into lower prices,” said Matthew Parry, a senior oil-market analyst at the International Energy Agency.
The July contract for light, sweet crude-oil futures CLN2 -3.65%  fell $2.94, or 3.2%, to settle at $87.82 a barrel on the New York Mercantile Exchange, after touching a low of $87.49.
It was the lowest settlement price for a most-active futures contract since October, according to FactSet Research. Month to date, futures prices have lost 16%.

ECB opposes Spain's banks plan

European Central Bank officials signal they would oppose any attempt to fund the $23.8 billion recapitalization of Spain's Bankia via the central bank's lending facilities.
The drop came as the ICE dollar index DXY +0.69% , which measures the greenback against a basket of six global currency counterparts, rose to 82.995 from 82.468 in North American trade Tuesday.
The euro EURUSD -1.0106% , meanwhile, fell to $1.2384 from $1.2493 late Tuesday. Read more on currencies.  
Investors were generally pulling out of risk assets as lingering concerns about Spain’s finances stoked fears about the euro zone. The country saw bond yields surge after Egan-Jones Ratings Co., on Tuesday after the European markets closed, downgraded Spain to B from BB- with a negative outlook, pushing Spanish debt further into junk status.
The Spanish downgrade “reminds everyone that the European problems are about far more than Greece,” said Parry.
U.S. and European stocks traded sharply lower, with the Dow Jones Industrial Average DJIA -1.14%  losing more than 148 points at last check, as Spain’s bond yields climbed and data on U.S. pending-home sales showed a decline for April. Read more on U.S. stock action.

Spain's Bankia bank headquarters in Madrid.
Asian markets mostly declined as some expectations for action from Beijing were scaled back after state-run media reported Tuesday that Chinese authorities won’t resort to aggressive stimulus to stabilize growth. Read Asia Markets.
State media also cited several senior Chinese economists as saying any stimulus the government provided would be mild compared with the one launched in late 2008. Read more about the economists’ comments.
Elsewhere in the energy complex, June gasoline prices RBM2 -1.82% lost 5 cents, or 1.7%, to end at $2.86 per gallon, and heating oil for delivery in the same month HOM2 -2.62%  shed 7 cents, or 2.5%, to $2.74 per gallon.

Data watch

Delayed due to Monday’s Memorial Day holiday, the American Petroleum Institute will release its weekly data on petroleum supplies later Wednesday, and the U.S. Energy Information Administration will release its data Thursday at 11 a.m. Eastern.
Analysts polled by Platts expect that supplies of crude oil climbed by 100,000 barrels for the week ended May 25. They also forecast unchanged inventories of gasoline and a rise of 150,000 barrels in distillate stocks.
Rounding out action in the energy markets Wednesday, July natural-gas futures NGN12 -2.41% , on its first full day as a front-month contract, gave up 7 cents, or 2.7% to finish at $2.42 per million British thermal units.
The EIA will release its weekly data on natural-gas supplies in storage on Thursday at 10:30 a.m. Eastern, as usual.
Analysts polled by Platts expect the data to show that natural gas supplies rose between 67 billion cubic feet and 71 bcf for the week ended May 25.
Myra Saefong is a MarketWatch reporter based in San Francisco. Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Sara Sjolin in London contributed to this report.

The Economist | Selected New Articles: Rajat Gupta's trial, Pyongyang - the restaurant and those hardworking Greeks

Schumpeter: The defence
A view from the Manhattan courtroom where Rajat Gupta is on trial
read more »

Babbage: Flame on
Researchers uncover a sophisticated cyber weapon
read more »
Banyan: A little slice of Pyongyang
A visit to a North Korean restaurant in Bangladesh
read more »
Eastern approaches: Mind your language
Barack Obama inadvertently insults a close ally
read more »

Graphic detail: Hardworking Greeks
Who works hardest in Europe? The Greeks reckon they do
read more »

Daily chart: Crunch time
According to The Economist's credit-crunch index, credit is now tighter in the euro area than it was at the height of the financial crisis read more »
Online debate: Mexican elections
Is Mexico better off under the PRI?
read more »

GATA | THE GATA DISPATCH: Embry elaborates on counterintuitive moves in gold 'market'

Embry elaborates on counterintuitive moves in gold 'market'

2p ET Wednesday, May 30, 2012
Dear Friend of GATA and Gold:
John Embry of Sprott Asset Management is really getting around today, elaborating for King World News on the "massive manipulation and interference" in the gold market. "They knock gold down when it obviously should be going higher," Embry says, echoing GATA's long-running complaint about the counterintuitive moves in the gold price.
Indeed, if the Northern Hemisphere was destroyed in a nuclear war, the Federal Reserve, JPMorganChase, and HSBC would get some brokers to Sydney, Rio de Janeiro, and Johannesburg to sell gold futures massively and drive the price down by at least 5 percent. Kitco market analyst Jon Nadler would crawl out from the ruble and opine to the cockroaches that the gold price had fallen because so many gold buyers had been killed, as he always had predicted would happen. CPM Group's Jeff Christian would telephone New Zealand not to worry because he was flying down with reams of gold-colored paper that would work just as well in Wellington as it did in New York as long as nobody asked what was behind it. And the World Gold Council would console itself with whatever high-fashion models could be found wearing gold nose rings in French Polynesia.
But with London and New York razed, at least we'd be spared more contrived rationalizations about the strange market action from the Financial Times and Wall Street Journal.
Monetary metals investors should understand that, as geopolitical analyst Jim Rickards somehow was allowed to say on CNBC three years ago, "When you own gold you're fighting every central bank in the world." It's them or humanity, slavery or freedom. Get used to it. Besides, we're winning.
An excerpt from Embry's interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

BIV Business Today News;: Today: 40% layoffs at troubled Baja Mining; Enbridge's $5m pipeline ad campaign; New-style fast food on the rise

Mining and Energy

Baja mine

Baja lays off 40% of Vancouver staff

The saga continues at embattled Baja Mining Corp. (TSX:BAJ) with this morning’s announcement that it has laid off 40% of the staff and consultants at its Vancouver headquarters.

Enbridge launches $5 million pipeline ad campaign

If $1.2 billion in tax revenue and 4,000 new jobs can’t sell British Columbians on the merits of the Northern Gateway pipeline, Enbridge Inc. (TSX: ENB) is hoping a $5 million ad campaign will.

Hospitality and Tourism


New-concept fast food sales on the rise

Quick-service restaurant (QSR) outlets that offer alternatives to standard fast-food fare are likely see the greatest sales gains in the years ahead as full-service restaurants (FSRs) become less popular, according to the first annual Canadian Chain Restaurant Industry Review.

Human Resources


Colleagues pay tribute to original Mad-Men era ad man Ray Torresan

Colleagues are celebrating the life and career of Ray Torresan, the founder of one of Vancouver's most successful advertising and PR agencies, who died of cancer on Sunday aged 73.

Seven British Columbians make top 25 Canadian immigrant list

Seven British Columbians have been named to Canadian Immigrant magazine’s fourth annual Top 25 Canadian Immigrants awards list.

Economy and Finance

Central 1 posts strong first-quarter results

Central 1 Credit Union posted a profit of $31.0 million in 2012’s first quarter, an increase of $12.7 million from $18.3 million in the same quarter last year.