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Aug 11, 2015

Times Video August 11, 2015.

Tuesday, August 11, 2015

U.S. & Politics

A new warden at Cook County Jail in Chicago is looking for ways to treat an influx of mentally ill inmates. Her hiring comes at a time when many public mental health facilities have closed.
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DealBook P.M. Edition - August 11, 2015 - The Upshot: Why Did China Devalue Its Currency? Two Big Reasons

 
 
TOP STORY
Paul J. Fishman, the United States attorney for New Jersey, and Mary Jo White, chairwoman of the Securities and Exchange Commission, on Tuesday.
Nine Charged in Insider Trading Case Tied to Hackers The international scheme generated more than $100 million in illegal profits, and the S.E.C. is bringing a parallel lawsuit in the case.
  • NYT »
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    DEALBOOK HIGHLIGHTS
    Counting renminbi in Beijing last month. On Tuesday, China's central bank set the value of its currency nearly 2 percent weaker against the dollar.
    China Devalues Its Currency as Worries Rise About Economic Slowdown The move appeared to be a response to signs that the economy was slowing too fast for comfort and could raise tensions with trading partners like the United States.
    A fruit vendor in Beijing on Tuesday. China's central bank devalued the nation's currency.
    The Upshot: Why Did China Devalue Its Currency? Two Big Reasons The nation wanted to keep its economy on an even keel, but it is also looking to assert more leadership in the global economy.

Stocks close sharply lower on surprise yuan devaluation; Apple plunges - Wall Street at Close Report on August 11, 2015.

cnbc.com

Stocks close sharply lower on surprise yuan devaluation; Apple plunges

Evelyn Cheng
U.S. stocks closed lower by about 1 percent on Tuesday after an unexpected move overnight by the People's Bank of China to depreciate the yuan by nearly 2 percent.
"The major concern is, the prospect of a China hard landing is more ominous as far as its impact on global growth," said Eric Wiegand, senior portfolio manager at U.S. Bank's Private Client Reserve.
The Dow Jones industrial average closed about 210 points lower, wiping out most of Monday's gains. The index's 50-day moving average fell below its 200-day moving average, a bearish condition many analysts term a "death cross ."

SEC Charges 32 Defendants in Scheme to Trade on Hacked News Releases: SEC Enforcement Actions - August 11, 2015.

SEC Seal

08/11/2015 11:30 AM EDT

The Securities and Exchange Commission today announced fraud charges against 32 defendants for taking part in a scheme to profit from stolen nonpublic information about corporate earnings announcements.  Those charged include two Ukrainian men who allegedly hacked into newswire services to obtain the information and 30 other defendants in and outside the U.S. who allegedly traded on it, generating more than $100 million in illegal profits.

FRB Press Release - August 11, 2015: Federal Reserve Board Issues Enforcement Action and Announced Ttermination of Enforcement Action.

Press Release

Release Date: August 11, 2015

The Federal Reserve Board on Tuesday announced the execution of the following enforcement action:
Cecil Bank (PDF), Elkton, Maryland
Prompt Corrective Action Directive dated August 7, 2015
The Federal Reserve Board also announced the termination of the enforcement action listed below:
Philippine National Bank, Pasay City, Philippines and Philippine National Bank New York Branch, New York, New York
Written Agreement dated May 8, 2009
Terminated August 5, 2015
Search of Federal Reserve enforcement actions.
For media inquiries, call 202-452-2955.
 
Last update: August 11, 2015

New Research Will Help U.S. Businesses Assess Costs Everywhere: ESA Press Release - August 11, 2015.

ESA Overlay Banner


08/11/2015 10:40 AM EDT

Assess Costs Everywhere (ACE) has been recently revised with more modern, up-to-date information. ACE is a resource developed by the Office of the Chief Economist in the Department of Commerce to outline the hidden costs and risks U.S. firms need to consider when evaluating the location of manufacturing operations and supply chains. ACE was originally launched in April 2013, and we are constantly reviewing it to ensure the data and research are current.
Highlights from our newly updated research include:
Economics & Statistics Administration

ESA Press Release - August 11, 2015: June 2015 wholesale inventories were up 0.9 percent from the revised May...

ESA Overlay Banner



June 2015 wholesale inventories were $586.2 billion, up 0.9 percent from the revised May level and up 5.4 percent from June 2014.  Sales were $449.9 billion, up 0.1 percent from the revised May level but down 3.8 percent from June 2014.



Economics & Statistics Administration

European Markets at Close Report on August 11, 2015: European stocks under pressure after China devalues the yuan.

marketwatch.com

European stocks under pressure after China devalues the yuan

Carla Mozee
European stocks fell Tuesday, led by exporters, as investors assessed China’s unexpected devaluation of the yuan, but Greek shares rose after the cash-strapped country moved closer to receiving fresh financial aid.
The Stoxx Europe 600 SXXP, -1.55%  lost 1.6% to close at 393.61. Luxury-goods makers were among hardest hit sectors, with Swatch Group UHR, -5.11%  skidding 5.1%, LVMH Moët Hennessy Louis Vuitton SE MC, -5.42% dropping 5.4% and Hermes International SCA RMS, -3.93%  losing 3.9%. Danish jeweler Pandora A/S PNDORA, +4.76% however, rose 4.8% after raising its full-year forecast.

U.S. Stock Market Future Indications Update - August 11, 2015: U.S. stock futures skid after China shakes forex market


 marketwatch.com

U.S. stock futures skid after China shakes forex market

Sara Sjolin
U.S. stocks were poised on Tuesday for a pullback as investors digest a surprise devaluation in the yuan and how it may impact the timing of the first Federal Reserve interest-rate hike in nearly a decade.
Futures for the Dow Jones Industrial Average YMU5, -0.98%  lost 109 points, or 0.6%, to 17,444, while those for the S&P 500 index ESU5, -0.84%  slumped 12.05 points, or 0.6%, to 2,087.75.
Futures for the Nasdaq 100 index NQU5, -0.56%  slipped 9.75 points, or 0.2%, to 4,556.25, with losses held in check by a 5.9% premarket jump for Google Inc. GOOGL, -0.19% GOOG, -0.25% The tech giant late Monday announced a new corporate structure built around a new umbrella company dubbed Alphabet Inc.

The Guardian Today U.S. Edition - July 11, 2015: The Guardian today: Ferguson: more arrests as police and protesters clash for second night

the guardian today - US edition
Tuesday 11 Aug 2015
g
Top Stories More »

Stones and bottles thrown by crowd and pepper spray used by police but no apparent gun violence after state of emergency ordered

China's devaluation raises currency war fear as Greece strikes deal: GATA | THE GATA DISPATCH - August 11, 2015.

China's devaluation raises currency war fear as Greece strikes deal

Submitted by cpowell on Tuesday, August 11, 2015By Nigel Stephenson
Reuters
Tuesday, August 11, 2015

LONDON -- China's shock 2 percent devaluation of the yuan on Tuesday pushed the dollar higher and raised the prospect of a new round of currency wars, just as Greece reached a new deal to contain its debt crisis.

DealBook Today's Top Headlines - August 11, 2015: Stock Buybacks Draw Scrutiny | Warren Buffett Bucks the Trend | Man Charged With Bitcoin Schemes in Court | The F.D.A. and the Free-Speech Fight | Mallinckrodt to Buy Therakos.

 
Tuesday, August 11, 2015
TODAY'S TOP HEADLINES
By AMIE TSANG
STOCK BUYBACKS DRAW SCRUTINY Debate over buybacks has grown and corporate America is worried, Andrew Ross Sorkin writes in the DealBook column. The buyback bug, which has bitten big companies from Apple to General Electric, has led to a backlash from investors and government officials. They doubt that using profits like that is a productive way to deploy capital compared with reinvesting in businesses and jobs.

Gerald Celente Tremds Journal : What Is Occupy Peace? Originally published on July 10, 2015-

What Is Occupy Peace

Trends Journal

NYTf First Draft on Politics - August 11, 2015: Trump’s Busy Week Aligns With His Opponents’ Growing Unease.

8/11/2015 nytimes.com/firstdraft »
First Draft

Trump’s Busy Week Aligns With His Opponents’ Growing Unease

Donald J. Trump addressed supporters during an event in Phoenix on July 11. Charlie Leight/Getty Images North America
8/11/2015
By Jeremy W. Peters
Good Tuesday morning. It is indeed the thick of the August lull, but with candidates fighting either to build on momentum from the debates or to make up for any lost ground, there is still work to do. Of course, it remains hard to be heard when one voice continues to rise above the rest, especially when that voice enters its most packed stretch of the campaign so far.
Donald J. Trump begins his busiest day since making comments about Megyn Kelly of Fox News that rocked the presidential campaign and drew widespread condemnation from fellow Republicans.

U.S. Stock Market Future Indications - August 11, 2015: U.S. Stock Futures Skid After China Shakes Forex Market.

marketwatch.com

U.S. stock futures skid after China shakes forex market

Sara Sjolin
U.S. stocks were poised on Tuesday for a pullback after the previous session’s sharp rally, with futures tilting lower as investors digest a surprise devaluation in the yuan and how it may impact the timing of the first Federal Reserve rate hike.

The Guardian Media Briefing - August 11, 2015.

Media briefing
Tuesday 11 Aug 2015
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Top stories on MediaGuardian More »

Former England captain takes to Instagram in response to article questioning the Beckhams’ four-year-old daughter being permitted to use a dummy
Jim Naughtie recalls Rory Morrison’s composure and colleagues throwing up their hands in mock surrender after infamous slip of the tongue
Mogul insists he did not imply anchor was menstruating and seeks to link Bush comment on women’s health to Romney ‘47%’ gaffe
Trust chairman and director general address concerns over inflation link, as commitment applies only as long as ‘purpose and scope’ of corporation do not change

Asian Markets at Close Report on August 11, 2015: Yuan suffers biggest one-day loss in two decades after devaluation; China stocks waver

marketwatch.com

Yuan suffers biggest one-day loss in two decades after devaluation; China stocks waver


Chao Deng


AFP/Getty Images
Currencies in Asia tumbled Tuesday and stocks in China fluctuated after China’s central bank devalued its tightly controlled currency.
The onshore yuan USDCNY, +1.8244%  suffered its biggest one-day loss in two decades after the move, which sent the Thai baht USDTHB, +0.8264% the Singapore dollar USDSGD, +1.3683%  and the Philippine peso USDPHP, +0.4213% to multiyear lows. The Korean won USDKRW, +2.05%  was among the hardest-hit currencies Tuesday, falling 1.6% to 1,177.4 per U.S. dollar compared with its opening level of 1,159.0.