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Sep 10, 2015

The Guardian Today | Australia Edition.

the guardian today - Australia edition
Friday 11 Sep 2015
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Editor's picks More »

The prime minister says ‘reports of end-of-year reshuffles are a dime a dozen’ and News Ltd stories are ‘wrong’

Citi Shared Central Bank Trading Info With Clients, Former Trader Says: GATA | THE GATA DISPATCH - September 10, 2015.

Citi shared central bank trading info with clients, former trader says

Submitted by cpowell on  Thursday, September 10, 2015. By Jamie McGeever
Reuters
Thursday, September 10, 2015


LONDON -- Citigroup sent details of its central bank customers' trading activity to another client and handed out details of its foreign exchange order book to customers in electronic chat rooms, a former foreign exchange trader said in a witness statement to a London court today.

Yemen’s forgotten war (PART ONE) - Newsnight: BBC Newsnight - September 10, 2015.

Yemen’s forgotten war (PART ONE) - Newsnight
BBC Newsnight BBC Newsnight
 
Published on Sep 10, 2015
Newsnight’s Gabriel Gatehouse has had rare access inside Yemen, to what some are calling the “forgotten war”. In the first of two reports, he looks at the scale of the humanitarian crisis - and whether the UK is complicit in this disaster. This report contains some disturbing images. Gabriel’s second report will be on Friday 11 September here on YouTube and on BBC Two at 22.30 BST

'We are a genetic freak': Sebastian Faulks: BBC Newsnight - September 10, 2015:

'We are a genetic freak': Sebastian Faulks - Newsnight

BBC Newsnight BBC Newsnight
 
Published on Sep 10, 2015
Author Sebastian Faulks reads an extract of his new book, Where my Heart used to Beat, and speaks to Emily Maitlis about war and the lessons from the end of the last century

Bron Suchecki: Indian government's gold bond plan aims to depress gold price: GATA | THE GATA DISPATCH -September 10, 2015.

Bron Suchecki: Indian government's gold bond plan aims to depress gold price

Submitted by cpowell on  September 10, 2015. Thursday, September 10, 2015

The Indian government's plan to sell gold bonds, Perth Mint research director Bron Suchecki writes today, is in effect a system of foreign currency-denominated loans that aims to weaken demand for gold and depress its price. Suchecki's commentary is headlined "Foreign Currency-Denominated Loans -- What, Me Worry?" and it's posted at the Perth Mint's Internet site here:

http://research.perthmint.com.au/2015/09/10/foreign-currency-denominated...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

CPowell@GATA.org

DealBook P.M. Edition - September 10, 2015: Top Story: Challenges Remain for Justice Dept. in Prosecuting Executives.

 
Thursday, September 10, 2015
TOP STORY
Matthew M. Tannin, an executive at Bear Stearns, was taken away in handcuffs in 2008 by federal agents. He was charged with securities fraud. He was acquitted of criminal charges and settled civil charges with the Securities and Exchange Commission.
Challenges Remain for Justice Dept. in Prosecuting Executives Recent investigations suggest that changes to Justice Department guidelines may not guarantee a Wall Street "perp walk."

U.S. Stocks End Modestly Higher as Rally Loses Steam - Wall Street at Close Report - September 10, 2015.

marketwatch.com

U.S. stocks end modestly higher as rally loses steam

Anora Mahmudova, Sara Sjolin
A solid rally in U.S. stocks ran out of momentum in the final two hours of the session, with the main indexes ending only modestly higher Thursday.
A jump in oil prices helped lift the overall market, but uncertainty ahead of the Federal Reserve’s two-day policy meeting next week made for volatile trade and kept a lid on gains.
The S&P 500 SPX, +0.53%  closed 10.25 points, or 0.5%, higher at 1,952.29. Technology and health-care stocks led the gains, while nine of the index’s 10 main sectors finished higher. The main benchmark is still down 5.2% year to date, however.

CMI Spot Prices as of Close of Trading in New York on September 12, 2015.

CMI Gold & Sliver

Spot Prices as of traditional New York closing times

Thursday, September 10, 2015


Gold

Today Change Week Ago Month Ago Year Ago
$1,110.90 +$7.40 $1,125.80 $1,106.00 $1,239.15

Silver

Today Change Week Ago Month Ago Year Ago
$14.68 +$0.08 $14.74 $15.34 $18.62

Platinum

Today Change Week Ago Month Ago Year Ago
$983.00 $0.00 $1,012.50 $991.60 $1,373.30

Palladium

Today Change Week Ago Month Ago Year Ago
$593.50 +$12.50 $581.90 $609.45 $837.00

Gold/Silver Ratio

75.68

Federal Reserve Bank of New York Org. Press Release - September 10, 2015.: Agency MBS Transaction Data Update

Agency MBS Transaction Summary
Gross purchases from September 3 through September 9: $4,109 million
Sales (dollar rolls) from September 3 through September 9: $0 million
Net purchases from September 3 through September 9: $4,109 million


All amounts reflect current face

SEC Announces Fraud Charges in Cross-Border Scheme to Secretly Control and Manipulate Stock of Chinese Companies After Reverse Mergers: SEC | Enforcement Actions - September 10, 2015.

SEC Seal

The Securities and Exchange Commission today announced fraud charges against a Wall Street CEO and his company, family members, and business associates accused of secretly obtaining control and manipulating the stock of Chinese companies they were purportedly guiding through the process of raising capital and becoming publicly-traded in the United States.

Federal Reserve System Appoints Payments Security Strategy Leader: FRB Press Release - September 10, 2015.



Press Release

Release Date: September 10, 2015

For release at 12:00 p.m. EDT


Federal Reserve System Appoints Payments Security Strategy Leader
 
The Federal Reserve System on Thursday announced the appointment of Federal Reserve Bank of Chicago Senior Vice President Todd Aadland as its Payments Security Strategy Leader. In this role, Aadland will lead the System's activities to address fraud risk and advance the safety, security and resiliency of the payment system. His responsibilities will include chairing the Secure Payments Task Force, comprised of more than 170 payments stakeholders.

Africa In Numbers - How Its Countries Compare: The Guardian - September 10, 2015.

theguardian.com

Africa in numbers - how its countries compare

Paul Scruton
 
Africa is a continent of 1.1bn people, over 50 countries and thousands of different languages. Comparisons between countries are always difficult, more so in a continent so diverse.
We have plotted seven alternative indicators for each of the countries below which provide some sense of life on the ground as well as a general barometer of each nation’s development.
For example, a high proportion of the workforce being in the service sector suggests that the country is largely dependent on high-skilled jobs such as banking, which has grown rapidly over the past decade.
Each indicator has its own scale, shown in the key. As a general rule, dots further to the right tend to signify greater average wealth. For example, the countries with higher numbers of children per woman have that particular dot on the left hand side while those with fewer have it placed on the right.

Robert Cohen and Joseph Sansone Named Market Abuse Unit Co-Chiefs: SEC Press Release - September 10, 2015.

 SEC Seal
09/10/2015

The Securities and Exchange Commission today announced that Robert Cohen and Joseph Sansone have been named co-chiefs of the Division of Enforcement’s Market Abuse Unit, a national specialized unit that focuses on complex insider trading rings and other abusive trading schemes and misconduct.  The two have served as the unit’s acting co-chiefs since the departure last month of Daniel Hawke, its inaugural chief.

Enforcement Action Announced: Independent Bank (PDF), Grand Rapids, Michigan: FRB Notification - September 10, 2015:

 Press Release

Release Date: September 10, 2015

For release at 11:00 a.m. EDT

The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below:
Independent Bank (PDF), Grand Rapids, Michigan
Order of assessment of civil money penalty dated August 27, 2015
Search of Federal Reserve enforcement actions.
For media inquiries, call 202-452-2955.
 
Last update: September 10, 2015

What Stood Out From Apple's Product Event: BITS | The Business of Technology - September 10,2015.


Daily Report
 Thursday, September 10, 2015

 
What Stood Out From Apple's Product Event | Apple's product event came and went as foretold by many.
Timothy D. Cook, Apple's chief executive, rolled out new iPhones, a jumbo-sized iPad, an upgraded Apple TV and other accouterments at an event in San Francisco on Wednesday. Many of the refreshed products had already been teased out by the tech press in the previous weeks and months, and there were few surprises.
What stood out, though, was how Apple is starting to do some things it once swore it would never do, writes Katie Benner. That includes a stylus, an accessory that the Apple co-founder Steve Jobs had once mocked.
Another element that jumped out is how the iPhone, Apple's biggest moneymaker, continues to dominate the mobile market, writes Farhad Manjoo. While most tech hardware is subject to the forces of commoditization, the iPhone has so far withstood the trend through a mix of services, software and design that have helped distinguish it from other smartphones.
For an up-close-and-personal look at the new Apple products, Brian X. Chen spent some time hands-on with the new iPhone, iPad and Apple TV. He also gives a primer on the latest version of Apple's mobile operating system, iOS 9, and what consumers need to know about it.

Shanghai Gold Exchange Expands Trading Collateral To Help Volume: GATA | THE GATA DISPATCH - September 10, 2015.

Shanghai Gold Exchange expands trading collateral to help volume

Submitted by cpowell on Thursday, September 10, 2015From Bloomberg News Thursday, September 10, 2015

The Shanghai Gold Exchange, the world's largest physical bullion marketplace, plans to expand trading collateral to precious metals, foreign exchange, and securities from local currency now, according to statements posted on its website Thursday. The move is designed to "boost market services," it said.

Maher Kara, Karim Bayyouk, and Bassam Salman Settle Insider Trading Charges: SEC Litigation Release - September 10, 2015.

 SEC Seal

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23341 / September 10, 2015

Securities and Exchange Commission v. Maher F. Kara, et al., Civil Action No. 3:09-cv-1880-EMC (N.D. Cal. filed Apr. 30, 2009)

Maher Kara, Karim Bayyouk, and Bassam Salman Settle Insider Trading Charges

The Securities and Exchange Commission announced today that on August 21, 2015, the Honorable Edward M. Chen of the United States District Court for the Northern District of California entered a final judgment against defendants Maher F. Kara, Karim I. Bayyouk, and Bassam Y. Salman.
In its complaint, the SEC alleged that Maher Kara, a former director in Citigroup Global Markets' investment banking division in New York, repeatedly told his brother about upcoming deals involving Citigroup's healthcare industry clients. Kara's brother, in addition to buying stock and options in target companies that were the subject of the Citigroup deals, leaked the information to a network of friends and family in California, Illinois, and Michigan, who also traded in advance of the deals. Eight individuals were charged in the trading scheme, including Maher Kara, Michael Kara (brother of Maher Kara), Salman (brother of Maher Kara's wife), Bayyouk (Salman's brother-in-law), and four others, who already have settled the Commission's charges against them.

European Stocks End Lower Over Asia Concerns: European Markets at Close Report on September 10, 2015.

cnbc.com

European stocks end lower over Asia concerns

Holly Ellyatt, Arjun Kharpal, Alexandra Gibbs
European equities finished solidly lower on Thursday, after investor sentiment was left dented by data from Asia's two largest economies, Japan and China.
The pan-European STOXX 600 ended the day around 1.2 percent lower.






FTSE FTSE 100 Index 6153.76
-75.25 -1.21% 550716242
DAX DAX Index 10210.45
-92.67 -0.90% 80009356
CAC 40 CAC 40 Index 4594.61
-69.98 -1.50% 86793248
IBEX 35 IBEX 35 Idx 9861.30
-176.50 -1.76% 167805922
London's FTSE 100 index closed the day 1.2 percent lower, after the Bank of England decided to keep its rates on hold, amid a volatile time for financial markets. After the news broke, Sterling rose against the dollar.

July 2015 wholesale inventories were $584.3 billion, down 0.1 percent from the revised June level but up 4.9 percent from July 2014...ESA | Monthly Wholesale Trade (July 2015) pdf.

ESA Overlay Banner



July 2015 wholesale inventories were $584.3 billion, down 0.1 percent from the revised June level but up 4.9 percent from July 2014.  Sales were $449.5 billion, down 0.3 percent from the revised June level and down 4.2 percent from July 2014.


Economics & Statistics Administration

U.S. Census Bureau
Bureau of Economic Analysis

U.S. Stock Futures Slump, Point to Rough Ride: U.S. Stock Market Future Indications Update - September 10, 2015.

marketwatch.com

U.S. Stock Futures Slump, Point to Rough Ride

Sara Sjolin
 
U.S. stock futures were slumping on Thursday a day after big swings in the main indexes culminated in sharp losses.
Investors weighing the possibility of the end of the Federal Reserve’s easy-money policies, underpin some of Thursday’s early action and were a specter looming over markets yesterday.
Data out during the day — such as weekly jobless claims and wholesale inventories — could further help shape the trading mood as investors look to economic reports to gauge the Fed’s intentions at its two-day policy meeting next Wednesday.

Koos Jansen: India's precious metals imports explosive in August: GATA | THE GATA DISPATCH - SEPTEMBER 10, 2015.

Koos Jansen: India's precious metals imports explosive in August

Submitted by cpowell on  Thursday, September 10, 2015. By Koos Jansen Thursday, September 10, 2015

In the month of August 2015, India imported 126 tonnes of gold and 1,400 tonnes of silver, according to data from Infodrive India. Gold import into India is rising after a steep fall due to government import restrictions implemented in 2013.
Year-to-date India has imported 654 tonnes of gold, which is 66 % up year on year. 6,782 tonnes in silver bars have crossed the Indian border so far this year, up 96 % y/y.
Gold import is set to reach an annualized 980 tonnes, which would be up 26 % relative to 2014 and would be the second highest figure on (my) record my record goes back to 2008. ...
... For the remainder of the report:
https://www.bullionstar.com/blogs/koos-jansen/india-precious-metals-impo...

Hunting for Clues in Biden’s Stroll Through Clinton’s Turf: NYT First Draft on Politics - September 10, 2015.


Thursday, September 10, 2015

Thursday, September 10, 2015

NYTimes.com/FirstDraft »

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Keith Srakocic/Associated Press
Hunting for Clues in Biden’s Stroll Through Hillary Clinton’s Turf
By MAGGIE HABERMAN
Good Thursday morning. The debate over the Iran nuclear deal in Congress and among the candidates continues to pull focus onto the national stage. But a major character still waits in the wings as speculation will attach itself to his every move until he decides whether to stay out of view or to step into the campaign lights.
On Thursday, Vice President Joseph R. Biden Jr., who is considering a presidential campaign, will spend a full day in New York, Hillary Rodham Clinton’s home base, raising money for Democrats and appearing with local officials.
Those officials include Gov. Andrew M. Cuomo, who is supporting Mrs. Clinton. But Mr. Cuomo’s political aides sent an email urging people to come to a rally that he’ll hold with Mr. Biden in support of raising the federal minimum wage.
Cyrus R. Vance Jr., the Manhattan district attorney, and Attorney General Loretta E. Lynch, who until recently was the top federal prosecutor in Brooklyn, will also meet with Mr. Biden to discuss the backlog of evidence kits in sexual assault cases, which hinders prosecutions and is an important issue for many women.
Mr. Biden has identified with both issues -- workers’ rights and ending violence against women -- throughout his career; they are also of premium importance to the Democratic base. 
Later, he will appear on “The Late Show With Stephen Colbert,” an eagerly anticipated appearance in a setting that is likely to suit Mr. Biden. And he’ll raise money for the Democratic Senatorial Campaign Committee at an event hosted by James Torrey, a longtime bundler for President Obama, and by Gary Hindes, a friend of Mr. Biden’s for four decades.
As with most of Mr. Biden’s recent appearances, the temptation will be to read his schedule like tea leaves for hints of his 2016 plans. But as has been the case throughout, it is difficult to predict the future of a man enduring unimaginable personal grief after the death of a son.

Gold Drops to Near Lows After Jobs Data, India's Bullion Plan: Mineweb Gold News - September 10, 2015: Gold Drops to Near Lows After Jobs Data, India's Bullion Plan.

Mineweb
Mineweb Gold News -  10 September 2015

Gold drops to near lows after jobs data, India's bullion plan

Gold drops to near lows after jobs data, India's bullion plan
The Fed hiking rates next week is becoming a distinct possibility.
 
Goldcorp studies mine geology after forecast cut: Analyst

Goldcorp studies mine geology after forecast cut: Analyst
In July, the company said production would be at or below the low end of 290,000.
 
Updated reserve and resource statement for Centamin plc

Updated reserve and resource statement for Centamin plc
Update sees 8.8 million ounces for the open pit and underground reserves.