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May 9, 2014

London gold fix injects 'synthetic supply' into market, Hathaway says: GATA | THE GATA DISPATCH -May 9, 2014-.

London gold fix injects 'synthetic supply' into market, Hathaway says

Submitted by cpowell on 07:59AM ET Friday, May 9, 2014. Section: Daily Dispatches
11a ET Friday, May 9, 2014
The daily gold price fixings in London may be serving mainly to inject into the market through bullion banks a "synthetic supply" of gold leased from central banks, the Tocqueville Gold Fund's John Hathaway tells Kitco News in an interview this week. The fix's archaic nature, Hathaway adds, is an advantage to its participating banks, which are always essentially short the metal. The price-setting process should be more transparent, he says. The interview is not quite 10 minutes long and can be heard at Kitco News here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Bits | The Business of Technology - May 09, 2014: Off the Record in Snapchat? Don't Be Sure.

Friday, May 9, 2014
For the latest updates, go to »
Daily Report
Off the Record in Snapchat? Don't Be Sure | What happens on the Internet stays on the Internet.

That truth was laid bare on Thursday, when Snapchat, the popular mobile messaging service, agreed to settle charges by the Federal Trade Commission that messages sent through the company's app did not disappear as easily as promised, Jenna Wortham reports.

Snapchat has built its service on a pitch that has always seemed almost too good to be true: that people can send any photo or video to friends and have it vanish without a trace. That promise has appealed to millions of people, particularly younger Internet users seeking refuge from nosy parents, school administrators and potential employers.

But the commission charged that there were several easy ways to save messages from the service, and in settling the accusations, the company agreed not to misrepresent the disappearing nature of its messages.
Will a government settlement improve Snapchat's privacy? Don't count on it, argues Farhad Manjoo. The Federal Trade Commission's privacy agreements with tech companies haven't led to a general improvement in privacy.
Apple Is Said to Be in Talks to Buy Beats for $3.2 Billion | A deal for Beats Electronics, founded in part by the rapper Dr. Dre, could signal an effort by Apple to transform its approach to music more than a decade after it opened the iTunes download store, Brian X. Chen, Ben Sisario and David Gelles report.

More From The Times
Ali Rowghani, Twitter's chief operating officer, made a profit of about $9.9 million after exercising stock options and selling shares.
Twitter Insiders Sell After Lockup Expires | Three executives of the social network, including Ali Rowghani, its No. 2 executive, sold stock on Tuesday after restrictions were lifted on insider selling after the initial offering of stock.
A California bill requires all smartphones sold in the state after July 1, 2015 to include a so-called kill switch feature turned on by default.
With a Change of Heart, California Senate Approves Smartphone 'Kill Switch' Law | The California Senate on Thursday voted to approve a state measure requiring smarter antitheft security on smartphones, even though it had decided last month to reject the bill.
Some Amazon customers have been told titles like Stephen Colbert's
Hachette Says Amazon Is Delaying Delivery of Some Books | Amazon, which controls more than a third of the book trade in the United States, is marking many books published by Hachette Book Group as not available for at least two or three weeks.
IZettle, a Stockholm-based company,  allows merchants to process credit-card transactions.
Swedish Payments Processor Raises $55 Million | iZettle, a European competitor to Square, announced a new fundraising round worth 40 million euros, from backers like Intel Capital and Zouk Capital.
Apple's new guidelines provide more detail about what types of information the company is capable of handing over to law enforcement officials.
Apple Publishes Expanded Report on How It Handles Government Data Requests | The guidelines include notifying customers when their information is being sought by law enforcement officials, except for when that would be illegal or put people in danger.
From left, Cameron and Tyler Winklevoss, who have started  Math-Based Asset Services.
Winklevoss Twins to List Bitcoin Fund on Nasdaq |Cameron and Tyler Winklevoss disclosed in a regulatory filingon Thursday that they had chosen to list their Bitcoin exchange-traded fund on the Nasdaq stock exchange.
Best of Scuttlebot  News from the Web, annotated by our staff
The Exclusive Inside Story of How Monster Lost the World | GIZMODO
A Feb. 2013 feature on Beats Electronics. - Ashwin Seshagiri
How Much Your Data Is Worth to Facebook and Google | BUSINESS INSIDER
One user discovers his personal details are worth $112.32 to Google -- but "a measly $16.60" to Facebook. - Natasha Singer
For more Scuttlebot, follow @nytimesbits »

YoiuTube | Gerald Celente has uploaded Gerald Celente - Gary Null Show - May 8, 2014.

Gerald Celente has uploaded Gerald Celente - Gary Null Show - May 8, 2014
Gerald Celente - Gary Null Show - May 8, 2014
Gerald Celente
Gerald discusses the latest in Ukraine and highlights the Spring edition of the Trends Journal.­m

YouTube | RT has uploaded Spectacular video: Russia's top aces perform stunts in Crimea's skies

RT has uploaded Spectacular video: Russia's top aces perform stunts in Crimea's skies
Spectacular video: Russia's top aces perform stunts in Crimea's skies
Crimea celebrated the 69th anniversary of Victory over Nazi Germany in the Great Patriotic War (WWII) with some awe inspiring stunts from Russian aviation aces. Earlier Moscow celebrated May 9th on the Red Square with 11,000 troops, 149 vehicles and 69 warplanes.

YouTube | Al Jazeera English has uploaded News Bulletin - 09:35 GMT update and 3 other videos.

Al Jazeera English has uploaded News Bulletin - 09:35 GMT update and 3 other videos
   Play all  
News Bulletin - 09:35 GMT update
Al Jazeera English
Activists demand gender rights in India
Al Jazeera English
Thai protesters demand removal of government
Al Jazeera English
101 East - Bhutan's Forgotten People promo
Al Jazeera English

RTTNews Morning Market Briefing - May 9, 2014.

Economic News
Retail credit card spending in New Zealand added a seasonally adjusted 0.3 percent on month in April, Statistics New Zealand said on Friday. (May 9, 2014Full Article
The Bank of Korea's monetary policy board on Friday decided to hold the nation's benchmark interest rate at 2.50 percent - unchanged for the 12th straight month and in line with expectations. (May 9, 2014Full Article 
Chinese inflation slowed more-than-expected to an 18-month low in April, while the negative trend in producer prices persisted for the 26th straight month, giving leeway for the government to provide more stimulus to achieve its 7.5 percent growth target. Inflation eased notably to 1.8 percent in April from 2.4 percent in March, the National Bureau of Statistics said Friday. (May 9, 2014Full Article
The Reserve Bank of Australia on Friday said the current accommodative monetary policy setting is likely to be appropriate for some time yet. In its quarterly statement on monetary policy, the bank said a degree of spare capacity will be present for much of the forecast period. Today, the central bank raised its growth outlook for June 2014 to 3 percent from 2.75 percent estimated in February. (May 9, 2014Full Article 
Standard & Poor's Ratings Services upgraded its rating outlook for Portugal as both economic and budgetary performance outpaced expectations, but maintained its credit rating for the nation at 'BB'. The outlook was revised to Stable from Negative, indicating that credit metrics of the nation are stabilizing and there is less than one-in-three probability of upgrade or downgrade. (May 9, 2014Full Article 
Germany's exports in March declined at the fastest pace since last May, and imports fell for the first time this year, as the Ukraine crisis and the slowdown in China weighed on demand. Defying expectations, exports fell 1.8 percent month-on-month in March, which was sharper than the 1.3 percent fall seen in February, data from Destatis revealed Friday. (May 9, 2014Full Article 
U.K. manufacturing output maintained growth momentum for the fourth consecutive month in March and robust exports took the visible trade gap to the lowest since December, reports published by the Office for National Statistics showed Friday. Manufacturing output gained 0.5 percent in March from February and exceeded the 0.3 percent rise forecast by economists. (May 9, 2014Full Article 
Broker Ratings Changes
FBR Capital Markets Lowers Comstock Resources Inc. (CRK) To Market Perform From Outperform With $27 Price Target
(May 9, 2014
Todays WS Events
Baker Hughes Analyst Conference At 9:40 AM ET
Baker Hughes Incorporated (BHI) will hold its 2014 Analyst Conference on May 9, 2014, at 9:40 AM ET, in Tomball. To access the live webcast, log on at (May 9, 2014
E.W. Scripps Q1 14 Earnings Conference Call At 9:00 AM ET
E.W. Scripps Company (SSP) will host a conference call at 9:00 AM ET May 9, 2014, to discuss its Q1 14 earnings results. To access the live webcast, log on at A call can be accessed by dialing (800) 611-1147 (US) or (612) 332-0634 (International). For replay a call, dial (800) 475-6701 (US) or (320) 365-3844 (International); passcode: 324284. (May 9, 2014
Ralph Lauren Q4 14 Earnings Conference Call At 9:00 AM ET

Ralph Lauren Corp.(RL) will host a conference call at 9:00 AM ET May 9, 2014, to discuss its Q4 14 earnings results. To access the live webcast, log on at A call can be accessed by dialing 517-623-4799. For replay a call, dial 203-369-1973; passcode: 2347. (May 9, 2014)  

U.S. Stock Market Future Indications - May 09, 2014: U.S. stock futures trim loss; tech loses for week Hotel chain Hilton raises outlook; Ralph Lauren warns on sales.

By Carla Mozee, MarketWatch 
LONDON (MarketWatch) — U.S. stock futures trimmed losses ahead of the opening bell Friday, a session that will cap a choppy week marked by a retreat in tech stocks.
Deal news from Apple Inc. may be on the way, while two huge advertising firms called off their merger talks. The euro fell under $1.38.
Futures for the Dow Jones Industrial Average DJM4 -0.04%  fell 16 points, or 0.1%, to 16,494, and futures for the S&P 500 index SPM4 -0.05% shed 1 point, or 0.1%, to 1,871. Futures for the Nasdaq-100 index NDM4 -0.04%  fell 4 points, or 0.1%, to 3,533.
Stocks finished with losses on Thursday, putting the Nasdaq Composite IndexCOMP -0.27%  on track for a 1.7% decline for the week.

The tech-heavy index on Friday may take its cue from Apple AAPL -0.91%  , which is in talks to buy Beats Electronics for about $3.2 billion, The Wall Street Journal reported. Beats sells premium-sound headphones and speakers, and just launched a music-subscription service that could bolster Apple’s presence in that area. Beats was established in 2008 by rapper Dr. Dre and record producer Jimmy Iovine.
While Apple and Beats may be joining forces, advertising heavyweights Omnicom Group Inc. OMC +0.41%  and Publicis Groupe SA FR:PUB +0.13%  have called off their $35 billion merger.
“The challenges that still remained to be overcome, in addition to the slow pace of progress, created a level of uncertainty detrimental to the interests of both groups and their employees, clients and shareholders,” the companies said in a joint statement late Thursday.
From the corporate front, Hilton Worldwide Holdings Inc. HLT +2.61%   raised its yearly forecast after the hotel operator’s net earnings quadrupled in the first quarter. Shares of apparel retailer Ralph Lauren Corp. RL -5.35%  fell after warning on sales.
In premarket moves, shares of Rocket Fuel Inc. FUEL -23.23%   tumbled 28%, stretching sharp losses made late Thursday after the digital ad company’s quarterly sales outlook missed expectations.
Investors will get a fresh take on U.S. labor-market conditions from the so-called JOLTS report from the Labor Department at 10 a.m. Eastern Time. While the pace of hiring and jobs openings have increased, that data may show that number of quits in March — an indicator of how willing workers are to trade job security for career advancement — remained below far below pre-recession levels. In February, there were 2.38 million quits and 4.17 million job openings.
Federal Reserve Chairwoman Janet Yellen, who finished two days of congressional testimony on Thursday, looks at the JOLTS report for trends underlying payroll growth.
Also due Friday was the U.S. Commerce Department’s report on March wholesale inventories, at 10 a.m. Eastern Time. Economists polled by Dow Jones Newswires expect growth of 0.5%, matching February’s increase.
Dallas Federal Reserve President Richard Fisher, a voting member of the Fed’s policy committee this year, is expected to give his perspective on the limitations of U.S. monetary policy at 12 p.m. Eastern Time in New Orleans.
The drop in U.S. stocks Thursday marked a “subdued close ... with concerns that [Russian President Vladimir] Putin’s apparent pullback on rhetoric will not be enough to stop a referendum in eastern Ukraine from taking place at the weekend, the ramifications of which could be significant,” said Richard Perry, market analyst at Hantec Markets, in a note.
Sunday’s referendum on secession to be held by pro-Russian separatists defies Putin’s call for the vote to be postponed. Western capitals, meanwhile, questioned Putin’s switch to a more conciliatory tone about the conflict between Moscow and Kiev. Read: Russia parades military might amid Ukraine crisis.
Before the start of U.S. trade Friday, Asian stocks ended mixed after a lower-than-expected consumer-inflation reading from China. Stocks in Europe fell following a string of disappointing corporate updates. A day ago, the Stoxx Europe 600 XX:SXXP -0.51%  hit a six-year high after European Central Bank President Mario Draghi said the central bank may be ready to cut rates next month.
The euro UK:EURO +1.26%  extended its decline against the U.S. dollar in the wake of Draghi’s easing signal, trading at $1.3787, compared with $1.3851 late Thursday.
Among commodities, gold for June delivery GCM4 +0.27%  rose $5.40, or 0.4%, to $1,293 an ounce and June oil CLM4 +0.36%  gained 32 cents, or 0.3%, to $100.58.

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Carla Mozee is a reporter for MarketWatch, based in London. Follow her on Twitter @MWMozee.