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Aug 4, 2015

The Guardian | Australian Politics on July 5, 2015( U.K. Time Zone - Wednesday 5 August 2015 00.31 BST).

Australian politics
Wednesday 05 Aug 2015
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It’s much easier to implement, but above all a flat increase in the charge is the most progressive way to provide a much-needed boost to federal revenues
Constitutional lawyer George Williams says the bill aimed at dual national foreign fighters removes natural justice and lacks any form of notification
Frontbencher says he has declared the visits, which were connected to a childcare company run by businessmen and donors Ian Tang and Anthony Chan
Essential poll reveals Tony Abbott’s popularity has gained since February, with 17% of voters preferring him as Liberal leader, but he still sits behind Turnbull
Comment is free More »

Bronwyn Bishop, your final gift to the nation is to bring the already degraded institution of parliament into further disrepute. (Is this a bit over the top?)
Video More »

Just what's behind a quirky Western Australian farmer's three-decade long battle for sovereignty?

RBS sell-off: George Osborne defends £1bn loss: The Guardian - August 4, 2015.

theguardian.com

RBS sell-off: George Osborne defends £1bn loss

Jill Treanor
George Osborne has tried to justify a £1bn loss on the first sale of shares in Royal Bank of Scotland in the face of criticism from politicians and City analysts by saying it was the right thing to do for the British taxpayer.
The chancellor sanctioned the first sale of the stake in RBS, announced on Monday night, to cut the taxpayer shareholding from 79% to just below 73%. Slightly more shares than expected were sold after the stock market closed on Monday, crystallising a loss for the taxpayer after £45bn was ploughed into the bank to rescue it amid the financial crisis of 2008-2009.

Is Such a Thing as Post-Capitalism? RT Keiser Report: Solutions to World Economy Part I (E790): Originally Published on July 30, 2015.

Keiser Report: Solutions to World Economy Part I (E790)

RT RT

Published on Jul 30, 2015
In this double-header special episode of the Keiser Report, Max Keiser and Stacy Herbert discuss whether or not there is such a thing as post-capitalism, whether or not we are actually in this phase and examine the solutions to the multiple crises of neoliberal capitalism.

GATA | THE GATA DISPATCH - August 4, 2015: Stefan Gleason: Five extraordinary things that will shake up precious metals | Hugo Salinas Price: Will China play the 'gold card'?

Stefan Gleason: Five extraordinary things that will shake up precious metals

Submitted by cpowell onAugust 4, 2015  Tuesday, August 4, 2015

Writing today at TheStreet.com, Stefan Gleason, president of Money Metals Exchange in Eagle, Idaho, enumerates "Five Extraordinary Things that Will Shake Up Precious Metals," basically a list of the fundamental factors supporting a rise in price for the monetary metals, including the imminent collapse of the monetary metals mining industry, its agreement to die quietly and cease production.
Will fundamentals ever again mean anything in markets that, like the gold and silver markets, are controlled by surreptitious intervention by central banks and their agents?

Times Video - August 4, 2015.

Monday, August 3, 2015

U.S. & Politics

In a year of violent police encounters, a 25-year-old movement to document law enforcement has new urgency. This is the story of Copwatch as told by Michael Brown's neighbor and Freddie Gray's friend.

U.S. Department of Commerce News Release - August 4, 2015: U.S. Commerce Secretary Penny Pritzker Announces Competition for $10 Million in Grants to Advance Innovation

Press Release
08/04/2015

U.S. Secretary of Commerce Penny Pritzker today announced the launch of the Economic Development Administration’s (EDA) $10 million funding opportunity for the 2015 Regional Innovation Strategies (RIS) Program competition to spur innovation capacity-building activities in regions across the nation. Under this program, EDA is soliciting applications for two funding opportunities: the i6 Challenge, which funds organizations that help innovators and entrepreneurs turn innovations, ideas, intellectual property, and research into viable, sustainable companies, and Seed Fund Support Grants (previously Cluster Grants for Seed Capital Funds), which funds regionally-focused seed capital funds that provide early-stage capital to innovation-based startups with a potential for high growth. This is the second RIS competition; EDA’s 2014 i6 and Seed Fund Support Grant awardees were announced in March 2015.

FTC Press Release - August 4, 2015: FTC Approves Application from Holcim LTD. and Lafarge S.A. to Divest Cement Assets.

FTC@100 Banner

Following a public comment period, the Federal Trade Commission has approved an application from Holcim Ltd. and Lafarge S.A. to sell various Holcim cement assets to an affiliate of the international cement company CRH International.

DealBook P.M. Edition - August 4, 2015: Shire Offers to Buy Drug Maker Baxalta for $30 Billion

 
Tuesday, August 4, 2015
TOP STORY
The Irish drug maker Shire chose  to make its proposal public.
Shire Offers to Buy Drug Maker Baxalta for $30 Billion Shire said that it approached Baxalta in July about a deal, but Baxalta decided, following a written proposal on July 31, not to proceed with talks.

Wall Street at Close Report on August 4, 2015: Stocks close mildly lower as Apple plunges more than 3%

cnbc.com

Stocks close mildly lower as Apple plunges more than 3%

Evelyn Cheng


U.S. stocks closed lower on Tuesday as investors eyed further declines in Apple's stock and slight recovery in oil prices, amid continued focus on the timing of a rate hike.
"What we got today was reaffirmation that the Fed would like to raise rates this year, certainly not far from consensus," said Art Hogan, chief market strategist at Wunderlich Securities. He noted that this week also culminates with a jobs report.
"Apple's still the story," he said.

Supply Chains Take on Larger Role in Manufacturing: ESA | Supply Chain Innovation - August 4, 2015.

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In March, the Department of Commerce and the White House released "Supply Chain Innovation: Strengthening America's Small Manufacturers." One of the figures in that paper showed that supply chain costs, as a percentage of manufacturing shipments, have grown over the past two decades, from 52 percent in 1992 to 59 percent in 2012.1 Those percentages were gleaned from Economic Census data published every five years, and they paint an interesting picture of the growing importa

08/04/2015 PM EDT
Economics & Statistics Administration

European Markets at Close Report on August 4, 2015: Europe closes slightly lower; earnings weigh

cnbc.com

Europe closes slightly lower; earnings weigh

Alexandra Gibbs, Arjun Kharpal, Holly Ellyatt
European equities closed slightly lower on Tuesday as investors kept an eye on earnings and oil after the commodity saw a slight recovery.
Having dealt with a wobbly trading session, the pan-European Stoxx 600 decided to close in the red, finishing nearly 0.2 percent lower.



 


FTSE FTSE 100 Index 6686.57
-2.05 -0.03% 1431221241
DAX DAX Index 11456.07
12.35 0.11% 68762836
CAC 40 CAC 40 Index 5112.14
-8.38 -0.16% 124431421
IBEX 35 IBEX 35 Idx 11150.50
-115.40 -1.02% 409878983
Britain's FTSE 100 failed to hold onto earlier gains, ending trade just shy of the flat line, while the German DAX finished around 0.1 percent higher. The French CAC saw an almost 0.2 percent decline. Italy's FTSE MIB closed down 1 percent.

FTC Enforcement Actions - August 4, 2015: Operators of Bogus Credit Repair Scheme Settle FTC Charges.



FTC@100 BannerScammers Will Be Banned From Credit Repair Services Industry, Subject to a $2.4 Million Judgment
The operators of a bogus credit repair scheme that allegedly tricked Spanish-speaking consumers into paying thousands of dollars each to supposedly improve their credit will be banned from offering credit repair services and subject to a monetary judgment under settlements with the Federal Trade Commission.

FRB Enforcement Actions - August 4, 2015: Four Oaks Bank & Trust Company.



Release Date: August 4, 2015

For release at 11:00 a.m. EDT

The Federal Reserve Board on Tuesday announced the execution of the following enforcement action:
Four Oaks Bank & Trust Company (PDF), Four Oaks, North Carolina
Written Agreement dated July 30, 2015
The Federal Reserve Board also announced the termination of the enforcement action listed below:
Four Oaks Fincorp, Inc. and Four Oaks Bank & Trust Company, both of Four Oaks, North Carolina
Written Agreement dated May 24, 2011
Terminated July 30, 2015
Search of Federal Reserve enforcement actions.
For media inquiries, call 202-452-2955.
 
Last update: August 4, 2015

A fine balance: toward efficient merger review: FTC Competition Matters - August 4, 2015.

Competition Matters Banner

By Debbie Feinstein, Bureau of Competition
August 4, 2015
One of the key functions of the Bureau of Competition is to analyze mergers. Obtaining information through Second Requests is an essential aspect of our review process for proposed acquisitions. Even though the FTC and DOJ on average issue a Second Request in less than 5 percent of filed transactions, for the few that do require more extensive review, we have long recognized the burden they impose. The challenge is to find a balance between our need for information to determine whether there is a potential law violation and avoiding unnecessary costs for businesses subject to review.

FTC Press Release - August 4, 2015: FTC Seeks Public Comment on Riyo Proposal for Parental Verification Method Under COPPA Rule

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The Federal Trade Commission is seeking public comment on a proposed verifiable parental consent method that Riyo has submitted for Commission approval under the agency’s Children’s Online Privacy Protection Rule.

FDIC | Press Release - August 4, 2015: FDIC Issues List of Banks Examined for CRA Compliance.



Press Release

FDIC Issues List of Banks Examined for CRA Compliance

 

FOR IMMEDIATE RELEASE
August 4, 2015
Media Contact:
Greg Hernandez (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

 The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2015. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations.

ESA | EI: Manufacturer's Shipments, Inventories, and Orders - August 4, 2015: June 2015 new orders for manufactured goods increased 1.8 percent, Shipments rose 0.5 percent...

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June 2015 new orders for manufactured goods increased 1.8 percent, to $478.5 billion. Shipments rose 0.5 percent, to $483.5 billion.  Unfilled orders were virtually unchanged at $1,194.7 billion.  And inventories increased 0.6 percent, to $653.6 billion.
 
 

Bits | The Business of Technology - August 4, 2015: The GIF Start-Ups Fostering a Visual Language on Mobile

 
 Tuesday, August 4, 2015
 
Daily Report
The GIF Start-Ups Fostering a Visual Language on Mobile | No matter how you pronounce them, GIFs are everywhere. Every day, 23 million of the brief animations are posted to Tumblr, and millions a day are sent on Facebook's messaging app.
They are also becoming big business. As Mike Isaac reported, a new generation of start-ups are finding support among venture capitalists.
Riffsy, which makes the GIF keyboard for smartphones, just raised $10 million. Giphy, which provides a search engine for a vast library of GIFs, has raised more than $23 million.
Whether the interest among the public and investors holds up remains to be seen. There is no doubt, though, that GIFs are now a mainstream form of digital expression.

DealBook Today's Top Headlines - August 4, 2015: Puerto Rico Defaults | Fiat Heir Reshapes Empire | Libor Conviction | Pimco Faces S.E.C. Action.

 
 
Tuesday, August 4, 2015
TODAY'S TOP HEADLINES
 
By AMIE TSANG
PUERTO RICO DEFAULTS The island defaulted on a $58 million bond payment on Monday in its first default since it came under the jurisdiction of the United States 117 years ago, Mary Williams Walsh reports in DealBook. It made a payment on the interest of about $628,000, but it said it lacked the funds to pay the full amount. This has increased pressure on its creditors to renegotiate debt, but also makes it harder for Puerto Rico to borrow in the future.

NYT First Draft on Politics - August 4, 2015: The Wait Is On for a Debate’s Final Top-10 List.

8/4/2015 nytimes.com/firstdraft »
First Draft

The Wait Is On for a Debate’s Final Top-10 List

Gov. John R. Kasich of Ohio in Keene, N.H., last week. He is among the candidates fighting for a spot in the Fox News Republican debate on Thursday. Ian Thomas Jansen-Lonnquist for The New York Times
8/4/2015
By Maggie Haberman
Good Tuesday morning from Washington, where President Obama will celebrate his birthday by continuing to press for the nuclear deal with Iran and where pundits, politicians and pollsters are focused on Thursday’s Republican debate. But on Tuesday, we will find out exactly who will be debating.
It’s decision day for the “decision desk” at Fox News.

U.S. Stock Market Future Indications - August 4, 2015: U.S. stocks set for choppy day as traders wait for jobs report, earnings

marketwatch.com

U.S. stocks set for choppy day as traders wait for jobs report, earnings

Sara Sjolin
 
U.S. stock futures were swinging between gains and losses as investors await key jobs reports due later in the week.
A raft of corporate updates were in focus, as Coach Inc. COH, -2.47% CVS Health Corp. CVS, +0.31%  and Sprint Corp. S, -0.89% all reported earnings before the opening bell.
Bouncing around the flatline, futures for the Dow Jones Industrial Average YMU5, -0.08%  lost 36 points, or 0.2%, to 17,475, while those for the S&P 500 index ESU5, -0.13%  shaved off 5.40 points, or 0.3%, to 2,085.50. Futures for the Nasdaq 100 index NQU5, -0.20%  lost 14.50 points, or 0.3%, to 4,558.50.

Asian Markets at Close Report on August 4, 2015: Chinese Shares Rise as Beijing Clamps Down on Short Selling

marketwatch.com

Chinese shares rise as Beijing clamps down on short selling

Chao Deng
 
China shares ended higher Tuesday after officials announced fresh steps to rein in short selling, while commodities weakness spread to some Asian currencies, including the Malaysian ringgit.
The Shanghai Composite Index SHCOMP, +3.69% ended up 3.7% to 3,756.54, and the smaller Shenzhen Composite Index 399106, +4.77%   gained 4.8% to 2,150.95. The small-cap ChiNext index 399006, +6.12% surged 6.1% to 2,546.16.
Hong Kong’s Hang Seng Index HSI, -0.02%  is roughly flat while a gauge of Chinese companies listed in the city is up 0.5%.