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Jul 7, 2014

BIV | Asia Pacific - July 7, 2014: Mining and Energy: Half of B.C. residents would say “No” to Northern Gateway



Mining and Energy


Half of B.C. residents would say “No” to Northern Gateway

Support for the controversial Northern Gateway project, which is intended to provide Canada with access to growing Asian economies, has fallen in British Columbia ... READ MORE

Asia Pacific

 

Cultural festival showcases South Asian artists

The Indian Summer Arts Society (ISAS) is hosting an arts festival dedicated to promoting South Asian arts... READ MORE

More News...

  

Australia: Future leaders sought

India: Companies see brighter future

India and Pakistan: Rivals take aim at trade barriers

Cambodia: Job-seekers reverse course


China: Airline adds non-stop route


GATA | THE GATA DISPATCHES - July 7, 2014: Government's lies about economy getting too obvious, Embry tells KWN | Gold industry resistant to price benchmark replacement, hearing finds | New York Sun: Krugman's last hurrah?

Government's lies about economy getting too obvious, Embry tells KWN

Submitted by cpowell on , July 7, 2014. Section: Daily Dispatches
 Monday, July 7, 2014
Sprott Asset Management's John Embry, interviewed today by King World News, marvels at the ever-more-obvious lies being told about economic conditions by the U.S. government. Meanwhile, Embry says, gold and silver prices seem unusually resilient. Embry's interview is excerpted at the KWN blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Gold industry resistant to price benchmark replacement, hearing finds

Submitted by cpowell on  Monday, July 7, 2014. Section: Daily Dispatches
By Clara Denina
Reuters
Monday, July 7, 2014
LONDON -- Gold producers and consumers are resistant to a wholesale redesign of the existing price setting benchmark known as the "fix" despite increasing regulatory glare, a discussion held by the World Gold Council found on Monday.
The debate hosted by the gold mining industry group was attended by 34 delegates from investment funds, refiners, exchanges, and other industry bodies.
The four banks that currently set the globally used gold benchmark twice a day via a conference call -- Barclays, HSBC, Bank of Nova Scotia, and Societe Generale -- were not present, but the WGC said it had had meetings with them separately.
"There was no real view from anyone in the room that the gold fix should be abandoned and we should start redesigning it from scratch," WGC managing director Natalie Dempster told Reuters. ...
... For the full story:

New York Sun: Krugman's last hurrah?


Submitted by cpowell on  ET Monday, July 7, 2014. Section: Daily Dispatches
 Monday, July 7, 2014
When New York Times columnist Paul Krugman pines for economic policies followed by the United States just after World War II, the New York Sun editorializes today, he forgets a big one: the anchoring of the currency to gold. Repudiation of the current system of infinite money without rules, the Sun adds, might clear the way for a return to the mass prosperity of the old days. The Sun's editorial is headlined "Krugman's Last Hurrah?" and it's posted here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

NYT | Opinion - July 7, 2014: How to Redraw the World Map

The New York TimesNYTimes.com | Most Popular | Video | Search

Opinion

Monday, July 7, 2014


ROOM FOR DEBATE
How to Redraw the World Map
What parts of the world should rethink their maps? Why and how?
TODAY'S EDITORIALS
The Risks of Hospital Mergers
By THE EDITORIAL BOARD
When two top names in health care formed an alliance in Massachusetts, it did not turn out well for consumers.
EDITORIAL
Reining In the Drones
The grave problems raised by this lethal technology need to be addressed by the Obama administration, as a bipartisan panel has just made clear.
EDITORIAL
Two Approaches to Tidal Politics
North Carolina is in foolhardy denial about the severity of rising seas, while Virginia's leaders are forthrightly talking about the problem.

Today's Columnists
Charles M. Blow
CHARLES M. BLOW
Ramparts Against Republicans
With the plutocrats betting on the G.O.P., Democrats will need to marshal their forces.
Paul Krugman
PAUL KRUGMAN
Beliefs, Facts and Money
How Republicans ignore the evidence and cling to that old-time economic religion.

QUOTATION OF THE DAY

"If the Iraqi Humpty Dumpty is to be made whole again, it can be only through a federal power-sharing formula."
OP-ED CONTRIBUTOR
Our Mismeasured Economy
Alex Nabaum
By LEW DALY
Standard G.D.P. doesn't fully account for the role of government.
ADVERTISEMENT
OP-ED CONTRIBUTOR
Taking Sides in Libya
By FREDERIC WEHREY
Amid Libya's worsening violence and polarization, room for dialogue and consensus is shrinking.
ADEWALE MAJA-PEARCE
Thai Rice and Nigerian Politics
Hungry people are susceptible to gifts from slick politicians.
OP-ED CONTRIBUTOR
The Promise of Aleppo's Radicals
By MATTHIEU AIKINS
The West's best allies against ISIS are other Sunni Islamists.
MASHA GESSEN
Our Traitors' Hearts
At the crux of the emigration debate is a question: Does one owe a special debt to one's country of birth?
Brian Stauffer
LETTERS
Pluses and Minuses of Common Core
Readers react to an article about how some parents are struggling to understand their children's math homework.
PAUL KRUGMAN BLOG
Not Knut
By PAUL KRUGMAN
Wicksellian? I don't buy it.
Butterfly weed, Asclepias tuberosa (here in the Hudson Valley).
DOT EARTH BLOG
Setting the Table for Migrating Monarch Butterflies
By ANDREW C. REVKIN
Property owners can help provide migrating and struggling monarch butterflies with a milkweed buffet and then map the insects' arrival.
OP-ED CONTRIBUTOR
The Fallacy of 'Balanced Literacy'
By ALEXANDER NAZARYAN
My struggling students craved instruction far more than freedom.

DealBook P.M. Edition - July 7, 2014: Ackman's Hedge Fund Offers Slate of Directors for Botox Maker Allergan

For the latest updates, go to dealbook.nytimes.com »
Monday, July 7, 2014
TOP STORY
Cathleen Black, with Mayor Michael R. Bloomberg, in January 2011, when she was chancellor of the New York City schools.
Ackman's Hedge Fund Offers Slate of Directors for Botox Maker Allergan With each tactical maneuver - the proposed board members being the latest - the Pershing Square hedge fund and the drug maker Valeant continue to ratchet up the pressure on Allergan.
For the latest updates, go to dealbook.nytimes.com »
DEALBOOK HIGHLIGHTS
Rengan Rajaratnam outside the federal courthouse in Manhattan last month.
White Collar Watch: The Incredible Shrinking Insider Trading Case An acquittal in Rengan Rajaratnam's trial would not be a big reversal in the Justice Department's insider trading crackdown but could make it harder to prosecute some cases, writes Peter J. Henning.
Box Said to Raise $150 Million in New Financing as It Moves Toward an I.P.O. The new capital, which valued the start-up at about $2.4 billion, will help the company as it stays private a little longer.
Fast electronic trading is deeply entrenched in modern financial markets.
Another View: No Need to Demonize High-Frequency Trading Despite legitimate concerns about high-frequency trading, technology in modern markets is here, will not disappear and is providing significant benefits to institutional and retail investors, writes Bart Chilton, a former financial regulator.
James H. Simons, a retired hedge fund titan, at a House panel in 2008.
James Simons Gives $50 Million to Cold Spring Harbor Laboratory The Simons Center for Quantitative Biology will use sophisticated algorithms to analyze biological data.
Johan Dennelind is the chief executive of TeliaSonera.
Tele2 of Sweden to Sell TeliaSonera Its Norwegian Business Tele2's sale of its Norwegian business could be a test for European regulators because the deal would leave Norway with only two primary mobile providers.
The Spire Healthcare Group, a British operator of hospitals.
British Hospital Operator Spire Healthcare Sets Price Range for I.P.O. The Spire Healthcare Group said it expected to price its offering at 2.10 pounds to 3 pounds a share, valuing the company at about $1.6 billion at the midpoint of that range.
Stefan Loacker, chief of the Swiss insurer Helvetia.
Helvetia Agrees to Buy Rival Swiss Insurer The $2 billion acquisition of Nationale Suisse would create the third-largest insurer in Switzerland, with about 7,000 employees and premiums of about 9 billion Swiss francs.
SABMiller said gambling and hotels are not core to its operations; its brands include the Czech beer Pilsner Urquell.
SABMiller to Sell Stake in South African Hotel and Casino Group SABMiller, the world's second-largest brewer after Anheuser-Busch InBev, plans to sell its 39.6 percent stake in Tsogo Sun Holdings for about $1.1 billion.
Cement is unloaded from a barge at a Lafarge concrete production plant in Pantin, France.
Cement Giants Holcim and Lafarge List Potential Asset Sales to Ease Merger The two companies, the world's two largest cement and construction materials companies, hope the proposed divestitures will speed regulatory approval of their merger.
Wild Flavors is a flavoring company based in Switzerland.
A.D.M. to Buy a Swiss Food-Flavoring Company Archer Daniels Midland will pay $3.1 billion in cash and debt for Wild Flavors, which is partly owned by funds affiliated with Kohlberg Kravis Roberts.
An Archer Daniels Midland Company booth at the 2011 Farm Progress Show, in Decatur, Ill.
Reuters Breakingviews: A Departure for A.D.M. in $3.1 Billion Deal The American food giant is buying Swiss natural ingredient maker Wild Flavors. A small add-on with like customers makes sense, but it won't change how investors see the company, writes Kevin Allison of Reuters Breakingviews.
LOOKING AHEAD
Consumer Credit Data Due Out Tuesday On Tuesday, the Federal Reserve will report total outstanding consumer credit in May, with economists expecting an $18.1 billion increase. Much of that gain will come from nonrevolving credit like mortgages and student loans, but credit card borrowing has been picking up strongly in recent months, a sign consumers are feeling more confident recently amid a healthier job market.
Fed Minutes Due Wednesday, With Monetary Policy in Flux Investors may find hints of the Fed's next steps in the minutes of its policy-making committee's June meeting, scheduled for publication Wednesday. But the pickings are likely to be slim. Key issues remain unresolved and the Fed, led by Janet L. Yellen, doesn't want to tip its hand too soon.
No Rate Movement Expected at Bank of England Meeting The Bank of England's Monetary Policy Committee meets Thursday on whether to raise interest rates. While no action is expected, investors will scour the minutes, which are released the same day, to see how members voted and whether their comments suggest a rate rise later this year or early next year.
U.S. June Budget Expected to Record a Surplus On Friday, the Treasury Department will release its estimate of federal spending and tax receipts in June, with a $96 billion surplus expected. The June data, which follows a $130 billion shortfall in May, is expected to be helped by strong gains in income tax and corporate tax collections, offset by a moderate rise in spending. The month of May contains no major tax due dates. For fiscal 2014, which ends in September, the federal government is expected to run a deficit of roughly $500 billion, a considerable improvement from Washington's $680 billion budget gap in fiscal 2013.
For the latest updates, go to dealbook.nytimes.com »

WSJ I Biggest Gainers Closing July 7, 2014.

Biggest Gainers Closing
Biggest Gainers
4:32 pm ET 07/07/2014
NYSE
Issue Volume Price Chg % Chg
Higher One Holdings (ONE) 1,295,588 $4.40 0.42 10.55
Amrep (AXR) 14,881 6.88 0.53 8.35
Maui Land&Pineapple (MLP) 44,069 7.41 0.57 8.33
Telekomunikasi Indonesia ADS (TLK) 224,068 44.34 2.52 6.03
Taomee Holdings ADS (TAOM) 60,897 5.27 0.30 5.97
InvenSense (INVN) 6,016,239 23.97 1.32 5.83
Semiconductor Manufacturing International ADS (SMI) 525,010 4.73 0.24 5.35
Companhia Siderurgica Nacional ADS (SID) 9,486,760 4.68 0.23 5.17
United Microelectronics ADS (UMC) 1,393,559 2.55 0.12 5.08
Veritiv (VRTV) 865,533 33.95 1.45 4.46
Transportadora de Gas del Sur ADS (TGS) 417,564 3.06 0.12 4.08
Alliance One International (AOI) 312,519 2.71 0.10 3.83
Centrais Eletricas Brasileiras ADS (EBR) 526,277 2.90 0.10 3.57
Fortegra Financial (FRF) 64,742 7.96 0.27 3.51
Skilled Healthcare Group Cl A (SKH) 118,902 6.29 0.21 3.45
Infosys ADS (INFY) 1,723,494 55.58 1.85 3.44
Lazard World Dividend&Income Fund (LOR) 148,622 15.98 0.52 3.36
Bitauto Holdings ADS (BITA) 1,184,943 49.46 1.49 3.11
Leju Holdings ADS (LEJU) 741,513 11.93 0.35 3.02
E-House (China) Holdings ADS (EJ) 2,628,995 9.64 0.28 2.99
Cementos Pacasmayo ADS (CPAC) 19,652 8.97 0.26 2.99
Gerdau ADS (GGB) 5,624,028 6.27 0.18 2.96
China Eastern Airlines ADS (CEA) 24,662 16.04 0.44 2.82
Daqo New Energy ADS (DQ) 151,121 31.04 0.85 2.82
Nordic American Offshore (NAO) 626,874 19.32 0.52 2.77
 
Nasdaq
Issue Volume Price Chg % Chg
Camtek (CAMT) 20,801,855 $5.02 1.82 56.88
EveryWare Global (EVRY) 7,863,117 3.44 0.64 22.86
China Information Technology (CNIT) 396,196 5.16 0.93 21.99
Bridgford Foods (BRID) 2,030 9.03 1.24 15.92
MobileIron (MOBL) 1,745,355 11.05 1.23 12.53
UBIC ADS (UBIC) 15,921 15.66 1.45 10.20
Penford (PENX) 100,623 13.48 0.97 7.75
Kandi Technologies Group (KNDI) 3,672,472 14.85 0.85 6.07
GoPro (GPRO) 16,935,222 43.96 2.38 5.72
BlackBerry (BBRY) 37,514,226 11.21 0.60 5.66
Ultratech (UTEK) 847,619 24.28 1.29 5.61
Asia Pacific Wire&Cable (APWC) 8,790 2.75 0.14 5.36
Synta Pharmaceuticals (SNTA) 6,446,219 4.74 0.24 5.33
Tower Semiconductor (TSEM) 1,463,931 10.16 0.50 5.18
Cirrus Logic (CRUS) 2,822,636 24.38 1.19 5.13
ZAGG (ZAGG) 979,749 6.17 0.30 5.11
Orbotech (ORBK) 709,774 16.44 0.79 5.05
ProShares UltraShort Nasdaq Biotechnology (BIS) 272,272 13.93 0.65 4.89
Union Bankshares (UNB) 6,663 25.88 1.18 4.80
Naugatuck Valley Financial (NVSL) 4,500 8.49 0.33 4.04
DragonWave (DRWI) 1,627,445 2.35 0.09 3.98
PMFG (PMFG) 184,724 5.75 0.22 3.98
VelocityShares Daily 2x VIX Short Term ETN (TVIX) 8,464,917 2.79 0.10 3.72
Alliance Holdings GP (AHGP) 80,026 66.74 2.38 3.70
EDAP TMS ADS (EDAP) 1,068,672 5.97 0.20 3.47
 
NYSE Arca
Issue Volume Price Chg % Chg
Market Vectors MSCI Emerging Markets Quality Dividend ETF (QDEM) 5,965 $54.10 4.58 9.24
VelocityShares 3x Inverse Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (DGAZ) 18,731,996 3.52 0.28 8.64
Direxion Daily Natural Gas Related Bear 3x Shares (GASX) 75,930 13.98 1.00 7.74
ProShares UltraShort Bloomberg Natural Gas (KOLD) 143,640 44.22 2.27 5.41
Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) 1,799,378 12.09 0.59 5.13
Market Vectors Indonesia Small-Cap ETF (IDXJ) 24,474 14.07 0.67 4.97
ProShares UltraPro Short Russell2000 (SRTY) 719,819 36.00 1.70 4.96
Direxion Daily Small Cap Bear 3x Shares (TZA) 17,081,805 14.10 0.65 4.83
Direxion Daily Gold Miners Bear 3x Shares (DUST) 3,143,383 17.32 0.79 4.78
PowerShares DB Agriculture Double Short ETN (AGA) 6,371 19.83 0.80 4.20
iShares MSCI Indonesia ETF (EIDO) 537,011 27.89 1.12 4.18
ProShares Ultra VIX Short-Term Futures ETF (UVXY) 5,856,722 25.05 0.95 3.94
Market Vectors Indonesia Index ETF (IDX) 242,564 25.94 0.89 3.55
ProShares UltraShort Russell2000 (TWM) 1,590,899 43.37 1.45 3.46
ProShares UltraPro Short MidCap400 (SMDD) 5,426 41.95 1.12 2.74
Direxion Daily Mid Cap Bear 3x Shares (MIDZ) 26,548 13.92 0.37 2.74
Direxion Daily Developed Markets Bear 3x Shares (DPK) 4,663 27.33 0.69 2.59
ProShares UltraShort Bloomberg Commodity (CMD) 8,900 54.68 1.36 2.55
PowerShares DB Crude Oil Long ETN (OLO) 2,901 14.71 0.33 2.29
Direxion Daily Energy Bear 3x Shares (ERY) 332,206 12.88 0.28 2.22
Barclays Bank iPath S&P 500 VIX Short Term Futures ETN (VXX) 21,226,609 27.77 0.60 2.21
ProShares UltraShort Consumer Services (SCC) 2,069 16.61 0.35 2.15
Direxion Daily 20+ Year Treasury Bull 3X Shares (TMF) 192,759 58.62 1.20 2.09
ProShares UltraShort FTSE Europe (EPV) 12,344 51.79 1.04 2.05
ProShares VIX Short-Term Futures ETF (VIXY) 1,029,096 18.47 0.37 2.04
 
Composite
Issue Volume Price Chg % Chg
Camtek (CAMT) 20,801,855 $5.02 1.82 56.88
EveryWare Global (EVRY) 7,863,117 3.44 0.64 22.86
China Information Technology (CNIT) 396,196 5.16 0.93 21.99
Bridgford Foods (BRID) 2,030 9.03 1.24 15.92
Royale Energy (ROYL) 1,691,728 3.77 0.45 13.55
MobileIron (MOBL) 1,745,355 11.05 1.23 12.53
NeoGenomics (NEO) 1,323,720 4.06 0.43 11.85
Revolution Lighting Technologies (RVLT) 1,376,521 2.55 0.25 10.87
Higher One Holdings (ONE) 1,295,588 4.40 0.42 10.55
UBIC ADS (UBIC) 15,921 15.66 1.45 10.20
Carolina Financial (CARO) 5,579 24.24 2.24 10.18
BioDelivery Sciences International (BDSI) 6,966,793 13.06 1.07 8.92
HMG/Courtland Properties (HMG) 2,494 15.55 1.25 8.73
VelocityShares 3x Inverse Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (DGAZ) 18,731,996 3.52 0.28 8.64
Amrep (AXR) 14,881 6.88 0.53 8.35
Maui Land&Pineapple (MLP) 44,069 7.41 0.57 8.33
Fusion Telecommunications International (FSNN) 2,443 5.40 0.40 7.99
Penford (PENX) 100,623 13.48 0.97 7.75
Direxion Daily Natural Gas Related Bear 3x Shares (GASX) 75,930 13.98 1.00 7.74
U.S. Energy (USEG) 324,090 4.42 0.29 7.02
22nd Century Group (XXII) 651,485 3.21 0.21 7.00
IMPAC Mortgage Holdings (IMH) 55,703 5.11 0.31 6.58
Remark Media (MARK) 26,523 8.89 0.53 6.34
Kandi Technologies Group (KNDI) 3,672,472 14.85 0.85 6.07
Telekomunikasi Indonesia ADS (TLK) 224,068 44.34 2.52 6.03
 
 
Footnotes
Includes common, closed end funds, ETFs, ETNs and REITS with prior day close of $2 a share or higher, with volume of at least 2,000.
x - stock is trading ex-dividend
Source: WSJ Market Data Group