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Jul 8, 2015

A bullion banker sings in Berkeley Square: GATA | THE GATA DISPATCH - July 8, 2015.

A bullion banker sings in Berkeley Square

Wednesday, July 8, 2015
In an interview posted today at Arabian Money, the CEO of London bullion dealer Sharps Pixley, Ross Norman, makes comments that Arabian Money construes to mean: "Somebody big is sitting on the gold price":

DealBook P.M. Edition - July 8, 2015: Top Story: New York Stock Exchange Resumes Trading

Wednesday, July 8, 2015
TOP STORY

A trader outside the New York Stock Exchange on Wednesday. The exchange gave traders on the floor no warning before halting activity.
New York Stock Exchange Resumes Trading The exchange, the world's largest for stocks, says an "internal technical issue" prompted a shutdown of trading for nearly four hours.

Wall Street at Close Report on July 8, 2015: U.S. stocks sell off amid global jitters, NYSE trading halt

marketwatch.com

U.S. stocks sell off amid global jitters, NYSE trading halt

Anora Mahmudova, Sara Sjolin
 
U.S. stocks closed sharply lower on Wednesday after trading on the New York Stock Exchange was halted for three-and-a-half hours.

Stock prices were trading sharply lower even before the trading suspension as investors grappled with a precipitous selloff in Chinese shares and nervousness over unresolved Greece debt crisis.
Trading of all securities at NYSE was halted from 11:32 a.m. Eastern until 3:10 p.m. Eastern due to a technical glitch, while the exchange spokesperson it was not due to a cyber attack.

SEC Advisory Committee on Small and Emerging Companies to Hold Conference Call Meetin: SEC Press Release - July 8, 2015

SEC Seal

07/08/2015 11:00 AM EDT

The Securities and Exchange Commission today announced that its Advisory Committee on Small and Emerging Companies will hold a public meeting by telephone conference on July 15.
The advisory committee plans to continue its discussions regarding public company disclosure effectiveness and the regulatory treatment of so-called “finders” that assist companies in capital raising activities.  These topics were initially discussed at the committee’s June 3 meeting.
The July 15 meeting will begin at 1:00 p.m. ET and live audio will be available on the SEC’s website.
The Advisory Committee on Small and Emerging Companies provides a formal mechanism for the Commission to receive advice and recommendations on privately held small businesses and publicly traded companies with a market capitalization less than $250 million.  More information about the advisory committee is available here.

European Markets at Close Report - July 8, 2015: European stocks rise as Greece submits request for 3rd bailout Carla Mozee

marketwatch.com

European stocks rise as Greece submits request for 3rd bailout

Carla Mozee
 
European stocks were mostly higher Wednesday, catching a break after four straight sessions of losses as Greece requested a third aid package from the eurozone’s bailout fund that would allow the debt-burdened country to stave off bankruptcy.

European stocks advanced as Greek Prime Minister Alexis Tsipras told the European Parliament his government will submit a detailed economic-reform proposal in the next few days, with the aim to unlock further bailout aid. Tsipras also confirmed that his country is on the “verge of bankruptcy.”
Additionally on Wednesday, the Greek government requested a three-year bailout program from eurozone’s rescue fund, the European Stability Mechanism, according to a document obtained by The Wall Street Journal.

Supplement Marketers Will Relinquish $1.4 Million to Settle FTC Deceptive Advertising Charges: FTC Enforcement Actions - July 8, 2015.

FTC@100 Banner

Ads Claimed Procera AVH Would Restore 10 to 15 Years of Memory Loss
The marketers of a dietary supplement called Procera AVH will relinquish $1.4 million under settlements resolving Federal Trade Commission charges that they deceived consumers with claims that the supplement was clinically proven to significantly improve memory, mood, and other cognitive functions.
Under the terms of the settlements, the defendants will pay $1 million to the FTC, and another $400,000 to satisfy a judgment in a case brought by local California law enforcement officials. They also will be barred from making similar deceptive claims in the future and from misrepresenting the existence, results, or conclusions of any scientific study.

Bloomberg Politics - July 8, 2015: What GOP researchers found by stalking voters




The Brief

 

What GOP researchers found by stalking voters

Republican campaign-science advocates say every tactic, new and old, needs to be tested if the party wants to take back the White House.
 

Oh, this old fundraising total?

Ahead of the next disclosure deadline, a few presidential campaigns have offered up the most brag-worthy glimpses of their financials.
 

Clinton gets behind Puerto Rico Chapter 9 proposal

The former secretary of state said she wants to give the commonwealth more flexibility as it prepares to fall short on debt payments.
 

Obama administration may face another court loss on immigration

A panel of appeals court judges the White House will face Friday have expressed skepticism on President Obama's immigration actions.
 

Clinton faults Republicans over Trump comments

The Democratic presidential candidate used her first national TV interview to weigh in on the Donald, her relationship with the media, and her trustworthiness.
 

Why Chris Coons isn't 'confident' in Bernie Sanders' qualifications

The Democratic senator talked with Mark Halperin and Heidi Przybyla on Tuesday's episode of “With All Due Respect.”

DealBook Today's Top Headlines - July 8, 2015: Economic Reforms at Risk as Chinese Markets Fall | Sunday Deadline for Greece | Barclays C.E.O. Steps Down | Unexpected Consequences of Leveraged Loan Crackdown

Wednesday, July 8, 2015
TODAY'S TOP HEADLINES

By DEALBOOK
ECONOMIC REFORMS AT RISK AS CHINESE MARKETS FALL Chinese markets continued their slump on Wednesday, with the main Shanghai index falling more than 8 percent in early trading, David Barboza writes in The New York Times. It closed 5.9 percent lower. Nearly half the listings on China's exchanges stopped trading by Wednesday morning, most of them at the request of companies, although some listings were also suspended by regulators.

Now that the country's stock markets are sinking sharply, the government of President Xi Jinping is facing "a searing test of its commitment to overhaul the country's financial system and open up the state-controlled economy," Keith Bradsher and Chris Buckley write in The New York Times. "For a government that loves absolute control, getting pushed around by the markets is an unsettling experience," they write, and the government may want to try to maintain control if the stock market weakness continues.

NYT First Draft on Politics - July 8, 2015: Approaching a Clearer Look at a Tangled Field.

7/8/2015 nytimes.com/firstdraft »
First Draft

Approaching a Clearer Look at a Tangled Field

Senator Ted Cruz of Texas spoke at the Freedom Summit meeting in Greenville, S.C., in May. Mr. Cruz has raised $10 million since announcing his candidacy in March. Travis Dove for The New York Times
7/8/2015
By Maggie Haberman
Good Wednesday morning from Washington, where Congress is debating an education law and where another Republican has said he just might join the race for the White House. It is a crowded race, after all, where the full picture is hidden among polling numbers and money raised, and where a first crucial deadline is just around the corner.
With less than 30 days until the first Republican presidential primary debate in Ohio, the jockeying for a spot will only intensify. So will the hunt for campaign cash.
Among the so-called establishment lane of presidential candidates – Jeb Bush, Senator Marco Rubio of Florida and Gov. Scott Walker of Wisconsin – only Mr. Rubio has been in the race for a substantial length of time. Mr. Walker won’t officially declare his candidacy until Monday, and Mr. Bush has been a formal candidate for only a few weeks.

U.S. Stock Market Future Indications - July 8, 2015: U.S. stocks set for day in the red ahead of FOMC minutes, Alcoa earnings

marketwatch.com

U.S. stocks set for day in the red ahead of FOMC minutes, Alcoa earnings

Sara Sjolin
 
U.S. stock futures pointed sharply lower on Wednesday, as investors grappled with a major selloff in Chinese shares, jitters over Greece and the upcoming Federal Reserve minutes.
The unofficial start to the earnings season, which comes with Alcoa’s report after the market close on Wednesday, was also weighing on investors’ minds.

Futures for the Dow Jones Industrial Average YMU5, -0.87%  dropped 158 points, or 0.9%, to 17,522, while those for the S&P 500 index ESU5, -0.91%  lost 20.70 points, or 1%, to 2,053. Futures for the Nasdaq 100 index NQU5, -0.96% shaved off 1.1% to 4,374.75.

Asian Markets at Close Report - July 8, 2015: China markets fall sharply despite fresh help from Beijing

marketwatch.com

China markets fall sharply despite fresh help from Beijing

Gregor Stuart Hunter , Fiona Law
 
Chinese markets fell sharply Wednesday, even as officials scrambled to arrest a three-week stock selloff. The widespread selling has spilled into global markets and is deepening doubts about Beijing’s limits to halt it.

China has introduced fresh measures to restore investor confidence seemingly to little avail. Stocks and Chinese bonds traded offshore, even high-quality corporate bonds issued by top state-owned companies, are getting dumped. China’s yuan, freely traded in the offshore market, hit a four-month low against the U.S. dollar amid a dimming outlook for the world’s second-largest economy.
The Shanghai Composite SHCOMP, -5.90% fell 5.9% at 3507.19, after losses of as much as 8.2% earlier Wednesday. The index has lost 32.1% since its peak in mid-June. The smaller Shenzhen Composite 399106, -2.50%  fell 2.5% at 1884.45, down 40% from its high last month.