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Aug 17, 2015

CMI Spot Prices as of Close of Trading in New York on August 17, 2015.

CMI Gold & Sliver

Spot Prices as of traditional New York closing times

Monday, August 17, 2015


Gold

Today Change Week Ago Month Ago Year Ago
$1,119.30 +$5.20 $1,106.00 $1,133.40 $1,299.45

Silver

Today Change Week Ago Month Ago Year Ago
$15.35 +$0.11 $15.34 $14.86 $19.66

Platinum

Today Change Week Ago Month Ago Year Ago
$1,003.30 +$6.90 $991.60 $1,004.40 $1,449.10

Palladium

Today Change Week Ago Month Ago Year Ago
$615.05 -$3.95 $609.45 $620.85 $896.70

Gold/Silver Ratio

72.92

RoboKill the robocall?: FTC Business Center Blog - August 17, 2015.

Bureau of Consumer Protection Business Center Blog Updates from the Federal Trade Commission

By Lesley Fair
The search for the Death Star that will destroy illegal robocalls once and for all is still underway, but the solution is one step closer. The FTC just announced that judges have selected winners in Robocalls: Humanity Strikes Back, a contest to come up with tech tools to further the fight against annoying pre-recorded calls. The winner: a mobile app that blocks and forwards robocalls to a crowd-sourced honeypot. But the contest has broader implications for business.

Read more >

NYT | Times Video - August 17, 2015.

The New York Times NYTIMES.COM/VIDEO »
Monday, August 17, 2015

Marijuana U.S.A.

Marijuana's effects can vary from person to person, and scientists are not quite sure what to make of the common distinction users and growers make between cannabis sativa and cannabis indica.
VideoIcon Watch »

DealBook P.M. Edition - August 17, 2015: Top Story: QVC Parent Bolsters Online Bet With $2.4 Billion Deal.

 Monday, August 17, 2015
 
TOP STORY
QVC Parent Bolsters Online Bet With $2.4 Billion Deal John C. Malone's Liberty Interactive has agreed to acquire Zulily in a cash-and-stock deal that values the online retailer at $2.4 billion. The transaction is expected to bolster Liberty's QVC Group business, which includes its online and broadcast shopping channel QVC and its interest in the retail and interactive lifestyle broadcast network HSN. Liberty's acquisition of Zulily comes less than two years after it went public.

Stocks rebound from early losses; Dow rises for third session: Wall street at Close Report on August 17, 2015.

marketwatch.com

Stocks rebound from early losses; Dow rises for third session

Anora Mahmudova, Victor Reklaitis
U.S. stocks rebounded from early losses, ending Monday’s lightly traded session in positive territory after investors put more weight on strong housing data than a dismal manufacturing report for the New York region.
The S&P 500 SPX, +0.52% closed 10.90 points, or 0.5%, higher at 2,102.44, with nine of its 10 main sectors posting gains. Health-care and consumer discretionary stocks led the way.
Home-builder stocks were among the biggest winners, with the S&P 500 home-building subindex gaining 1.9%, as investors bid up shares of companies such as Lennar Corp LEN, +2.66%  and D. R. Horton DHI, +1.86%  .

FTC Awards $25,000 Top Cash Prize for Contest-Winning Mobile App That Blocks Illegal Robocalls: FTC Press Release - August 17, 2015.

FTC@100 Banner

Commission Also Announces Winners of National Day of Civic Hacking Analytic Challenge
The Federal Trade Commission announced that judges for its Robocalls: Humanity Strikes Back contest selected a first place winner for the $25,000 cash prize for building a mobile app that blocks and forwards robocalls to a crowd-sourced honeypot.

SEC Litigation Release - August 17, 2015: EnviraTrends, Inc., et al.

SEC Seal

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23321 / August 17, 2015

Securities and Exchange Commission v. EnviraTrends, Inc., et al., Civil Action No. 8:15CV1903T27TGW (M.D. Fla., August 17, 2015)

SEC Charges Development Stage Company and Founder in Unregistered Offering Fraud Scheme

On August 17, 2015, the Securities and Exchange Commission filed a settled civil injunctive action against Russell Haraburda, the founder and Chief Executive Officer of EnviraTrends, Inc., a Sarasota, Florida-based development stage company purportedly in the business of selling pet memorial products. The Commission's action also charged EnviraTrends. The Commission's complaint alleges that Haraburda and EnviraTrends engaged in a fraudulent scheme to sell EnviraTrends securities to the public in unregistered offerings based on false and misleading statements regarding the company's activities and financial condition, and the purposes for which investors' funds would be used, while Haraburda misappropriated most of the money raised from investors for his own personal use. The Commission charges Haraburda and EnviraTrends with violating the antifraud, registration, and other provisions of the federal securities laws.
The Commission's complaint, filed in federal court in the Middle District of Florida, also alleges:
  • From mid-2009 until at least February 2014, Haraburda and EnviraTrends raised over $2.3 million through the sale of EnviraTrends stock to over 100 investors in thirteen states.
  • In soliciting these funds, Haraburda and EnviraTrends made numerous oral and written misrepresentations, including in filings with the SEC, regarding EnviraTrends' activities, operations, and finances. Haraburda and EnviraTrends repeatedly assured investors that their money would be used to build the company's business, including arranging for EnviraTrends' shares to be listed on a stock exchange or quoted on the OTC Bulletin Board. Contrary to these representations, Haraburda misappropriated $1.8 million, or 78% of the funds obtained from investors, spending it on personal expenses, including his mortgage payments, car and motorcycle payments, alimony, shopping sprees, and personal travel. EnviraTrends never developed or sold a product or service, never generated revenue, and a public market for EnviraTrends shares was never created.
  • In annual and quarterly reports and other filings EnviraTrends made with the Commission, Haraburda and EnviraTrends falsely stated that Haraburda had loaned funds to the company. But Haraburda did not make any loans to the Company. While there were occasional transfers of small sums from Haraburda's personal bank account to the company's bank accounts, the funds transferred were investor funds that Haraburda had previously misappropriated.
  • Haraburda further concealed his misappropriations by falsely stating to auditors that the company owed him hundreds of thousands of dollars, thus creating a pretext for his personal use of investor funds.
  • After the Commission's investigation of this matter began, Haraburda in 2014 created sham promissory notes purporting to show that he intended to repay the amounts he had misappropriated.
Haraburda and EnviraTrends, without admitting or denying the allegations in the complaint, have agreed to the entry of a final judgment providing permanent injunctive relief, barring Haraburda from serving as an officer or director of a public company, barring Haraburda from being associated with any offering of penny stock, and ordering Haraburda and EnviraTrends to disgorge their ill-gotten gains. The final judgment would provide permanent injunctive relief against Haraburda and EnviraTrends under the antifraud provisions of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act, and Exchange Act Rule 10b-5. The final judgment would enjoin Haraburda from violating the registration provisions of Sections 5(a) and (c) of the Securities Act; the certification requirements of Exchange Act Rules 13a-14 and 15d-14; and the prohibition against misrepresentations to auditors in Exchange Act Rule 13b2-2; and from aiding and abetting violations of the reporting provisions of Section 13(a) and 15(d)(1) of the Exchange Act, and Exchange Act Rules 12b-20, 13a-1, 13a-13, and 15d-1. The final judgment would further enjoin EnviraTrends from violating Sections 5(a) and (c) of the Securities Act; and Section 13(a) and 15(d)(1) of the Exchange Act and Exchange Act Rules 12b-20, 13a-1, 13a-13, and 15d-1. The final judgment also would order Haraburda and EnviraTrends to jointly pay more than $2.3 million in disgorgement and prejudgment interest, but would waive these payments, except for $150,000, based their financial condition. The proposed settlement is subject to the approval of the District Court.
The SEC's investigation was conducted by Natalie Shioji, Ranah Esmaili, Donato Furlano, and Lisa Deitch, and assisted by Trial Attorney Michael Semler.
The SEC appreciates the assistance of the Florida Office of Financial Regulation.
SEC Complaint

FDIC Weekly National Rates and Rate Caps Updated August 17, 2015.

FDIC

Weekly National Rates and Rate Caps


On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the "national rate" as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC. The national rates and rate caps for various deposit maturities and sizes are provided below.
For more information. see Financial Institution Letter FIL-25-2009
Rates updated August 17, 2015

Europe ends mixed as Greece, oil in focus; Alstom jumps 7%: European Markets at Close Report on August 17, 2015.

cnbc.com

Europe ends mixed as Greece, oil in focus; Alstom jumps 7%

Alexandra Gibbs, Holly Ellyatt
European equities finished mixed on Monday, after a choppy day of trade, as investors kept and eye on the oil price and watched for progress being made in concluding a third bailout program for Greece.
The pan-European STOXX 600 index pared losses to finish around 0.3 percent higher on Monday afternoon after fluctuating earlier in the session.



 


FTSE FTSE 100 Index 6550.30
-0.44 -0.01% 482488652
DAX DAX Index 10940.33
-44.81 -0.41% 71128329
CAC 40 CAC 40 Index 4984.83
28.36 0.57% 83189616
IBEX 35 IBEX 35 Idx 10900.30
21.00 0.19% 202495935
London's FTSE 100 ended flat, with miners the major under performers as commodity prices remained in focus. The French CAC recovered, finishing up 0.7 percent, while Germany's DAX ended around 0.3 percent lower.

Citigroup Affiliates to Pay $180 Million to Settle Hedge Fund Fraud Charges: SEC | Enforcement Actions - August 17, 2015.

 SEC Seal
08/17/2015.

The Securities and Exchange Commission today announced that two Citigroup affiliates have agreed to pay nearly $180 million to settle charges that they defrauded investors in two hedge funds by claiming they were safe, low-risk, and suitable for traditional bond investors.  The funds later crumbled and eventually collapsed during the financial crisis.
Citigroup Global Markets Inc. (CGMI) and Citigroup Alternative Investments LLC (CAI) agreed to bear all costs of distributing the $180 million in settlement funds to harmed investors.

Where to See the Inequality Gap Wrought by the Tech Boom: Bits | The Business of Technology - August 17, 2015.





Monday, August 17, 2015
Daily Report

Where to See the Inequality Gap Wrought by the Tech Boom | Silicon Valley's technology boom has fueled a growing divide between rich and poor in the nation's innovation capital. It's a divide that has festered, turning into demonstrations around potent symbols like the buses that Google uses to ferry employees to work. Tech companies have tried to salve the wounds by giving away technology, among other moves.
Perhaps nowhere is the inequality gap as concentrated - and as evident - as in San Francisco's Tenderloin neighborhood, a 30-block district not far from the downtown financial area. The Tenderloin has traditionally been dotted with single room occupancy, or S.R.O., buildings for low-income workers. A barrage of tech companies, including Twitter and Zendesk, have moved in in recent years.

DealBook Today's Top Headlines - August 17, 2015: Merkel Pushes On With Greek Bailout | Hedge Funds Shed Alibaba and Baidu Shares | Activist Investor Aims for Canadian Pipelines | Mylan's Perrigo Bid Gets Complicated

 
 
Monday, August 17, 2015
TODAY'S TOP HEADLINES
 
By AMIE TSANG
MERKEL PUSHES ON WITH GREEK BAILOUT Chancellor Angela Merkel said she expected the International Monetary Fund to take part in the new bailout for Greece in her first public comments on the plan, Alison Smale reports in The New York Times. Ms. Merkel sought to push back against opposition from within the German Parliament to the package, but did caution that one could not yet say with certainty that the bailout would work.

Some Candidates Find Spoils Beyond the Fairground: NYT First draft on Politics - August 17, 2015.

8/17/2015 nytimes.com/firstdraft »
First Draft

Some Candidates Find Spoils Beyond the Fairground

Hillary Rodham Clinton attended the Iowa State Fair on Saturday. Win McNamee/Getty Images
8/17/2015
By Jonathan Martin
Good Monday morning, a day of recovery for many of the candidates who were perhaps required by custom and duty to cheat on their diets at the Iowa State Fair this weekend. While most of the candidates move on to a full week, others were busy outside the fair’s lively lights, seeking money rather than votes on an upscale and tourist-filled Massachusetts island.

The Guardian Media Briefing - August 17, 2015.

Media briefing
Monday 17 Aug 2015
g
Top stories on MediaGuardian More »

ITN journalist says he saw elderly man drive car off harbour wall and dived in to try to help but could not save him
‘Provocative’ columnist resigns as columnist after evidence suggested the former Labor leader operated Twitter account widely taken to be a parody

U.S. stocks: Futures flat as bulls, bears fight like never before: U.S. Stock Market Future Indications Indications.

marketwatch.com

U.S. stocks: Futures flat as bulls, bears fight like never before

Victor Reklaitis
U.S. stocks appeared on track for a flat open Monday, with futures struggling for direction in a way that analysts said has been typical market action for the last few weeks.
The latest reading for the Empire State index could help set a more decisive tone, with that report on manufacturers in New York state expected before the opening bell. Investors also await fresh housing data and earnings from Estée Lauder Cos. Inc.

Asian markets mixed; steadying yuan resets focus on Fed: Asian Markets at Close Report on August 17, 2015.

marketwatch.com

Asian markets mixed; steadying yuan resets focus on Fed

Chao Deng
A steadying yuan has sharpened focus on the timing of a rise in U.S. interest rates, renewing pressure on Asian markets Monday, although hopes for stimulus from Japan offset some losses.
Two days of stability in the yuan and improving U.S. economic data firmed expectations that the Federal Reserve wouldn’t change course on rising interest rates because of volatility sparked by the currency’s devaluation. That dealt a fresh blow to some regional stock markets and currencies, which briefly had found more secure footing after the devaluation dust had settled.
The Hang Seng Index HSI, -0.74%  finished down 0.7% while South Korea’s Kospi SEU, -0.75%  was down 0.8%.