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Sep 21, 2015

The Guardian Today - Australia Edition.

the guardian today - Australia edition
Tuesday 22 Sep 2015
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Documents obtained by Guardian Australia on the agreement between Seven and immigration department reveal what the network gives up for access

Federal Reserve Board Announces Approval of Application by Empresas Juan Yarur SpA: FRB Press Release on september 21, 2015.

 

Press Release

Release Date: September 21, 2015

For release at 4:00 p.m. EDT

The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act by Empresas Juan Yarur SpA and its subsidiary, Banco de Credito e Inversiones, both of Santiago, Chile, to acquire CM Florida Holdings, Inc., Coral Gables, Florida, and thereby indirectly acquire its subsidiary, City National Bank of Florida, Miami, Florida.
Attached is the Board's order relating to this action.
For media inquiries, call 202-452-2955.
Board Votes
Attachment (73 KB PDF)
 
Last update: September 21, 2015

Federal Reserve Board Announces Approval of Proposal by PacWest Bancorp: FRB Press Release on September 21, 2015.



Press Release

Release Date: September 21, 2015

For release

The Federal Reserve Board on Monday announced its approval of a proposal by PacWest Bancorp, Los Angeles, California, to merge with Square 1 Financial, Inc., and thereby indirectly acquire its wholly owned subsidiary, Square 1 Bank, and the nonbank subsidiaries of Square 1 Financial, all of Durham, North Carolina, pursuant to sections 3 and 4 of the Bank Holding Company Act.
Attached is the Board's order relating to this action.
For media inquiries, call 202-452-2955.
Board Votes
Attachment (96 KB PDF)
 
Last update: September 21, 2015

SEC Charges Two Men in Stock Manipulation Scheme: SEC Enforcement Action on September 21, 2015.

SEC Seal

The Securities and Exchange Commission today charged two men behind a scheme that defrauded investors in YaFarm Technologies Inc., a company that purported to provide stem cell therapy.

The SEC’s complaint filed in federal court in Boston charged Frank Morelli III, of Florence, Colorado, and Louis Buonocore, of Woburn, Massachusetts, for their roles in the alleged scheme.  In a parallel case, the U.S. Attorney’s Office for the District of Massachusetts today filed a criminal information against Buonocore. 

SEC Files Settled Aiding and Abetting Charges Against Joseph F. Apuzzo, Former CFO of Terex Corporation: SEC Litigation Release on September 21, 2015.r

SEC Seal

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23356 / September 21, 2015

Accounting and Auditing Enforcement Release No. AAER-3703 / September 21, 2015

SEC v. Joseph F. Apuzzo, Civil Action No. 3:07-cv-1910 (D.Ct)

SEC Files Settled Aiding and Abetting Charges Against Joseph F. Apuzzo, Former CFO of Terex Corporation

On September 8, 2015, Judge Alvin W. Thompson of the U.S. District Court for the District of Connecticut entered a judgment against Joseph F. Apuzzo, former Chief Financial Officer of Terex Corporation. Apuzzo consented, without admitting or denying the allegations in the Commission's complaint, to be permanently enjoined from violation of Sections 10(b) and 13(b)(5) of the Securities and Exchange Act of 1934 ("Exchange Act") and Rules 10b-5 and 13b2-1 thereunder, and from aiding and abetting violation of Sections 13(a) and 13(b)(2)(A) of the Exchange Act and Rule 13a-1 thereunder, and to pay a penalty of $100,000. Upon motion by the Commission, Judge Thompson will determine whether to impose an officer and director bar against Apuzzo. Apuzzo, who was a Certified Public Accountant at the time of the alleged fraudulent conduct, has further agreed to the entry of a Commission order suspending him from appearing as an accountant before the Commission, with a right to apply for reinstatement after five years. The Commission issued such an Order on September 16, 2015 (http://www.sec.gov/litigation/admin/2015/34-75933.pdf).

It’s Odd That Jeremy Corbyn is Considered Non-Conformist. He Couldn’t be More British if He Bled Tea: The Guardian Opinion - September 21, 2015.

The best of Guardian opinion
Monday 21 Sep 2015
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SEC Charges Investment Adviser With Improperly Using Mutual Fund Assets to Pay Distribution Fees: SEC Litigation Release on September 21, 2015.

SEC Seal


The Securities and Exchange Commission today charged a New York-based investment adviser and its affiliated distributor with improperly using mutual fund assets to pay for the marketing and distribution of fund shares.  First Eagle Investment Management and FEF Distributors agreed to pay nearly $40 million to settle the SEC’s charges, the first brought under a recent SEC initiative to protect mutual fund shareholders.  The money will be returned to the accounts of affected shareholders.

DealBook P. M. Edition on September 21, 2015: White Collar Watch: Many Messages in the G.M. Settlement

 
Monday, September 21, 2015
TOP STORY
Mark Hood analyzed ignition switches in Chevrolet Cobalts and discovered that in 2006 or early 2007 they had been changed.
White Collar Watch: Many Messages in the G.M. Settlement The Justice Department appears to want other companies under investigation to view the significant benefits realized by General Motors from its cooperation.

CMI Spot Prices as of Close of Trading in New York on September 21,2015.

Spot Prices as of traditional New York closing times

Monday, September 21, 2015


Gold

Today Change Week Ago Month Ago Year Ago
$1,134.40 -$4.80 $1,109.20 $1,161.20 $1,218.45

Silver

Today Change Week Ago Month Ago Year Ago
$15.25 +$0.06 $14.40 $15.33 $17.80

Platinum

Today Change Week Ago Month Ago Year Ago
$974.00 -$11.60 $957.20 $1,029.00 $1,332.90

Palladium

Today Change Week Ago Month Ago Year Ago
$615.80 +$2.80 $587.50 $607.65 $804.90

Gold/Silver Ratio

74.39

Stocks End Higher, But Health-Care Selloff Caps Gains: Wall Street at Close Report by MarketWatch on September 21, 2015.

marketwatch.com

Stocks end higher, but health-care selloff caps gains

Anora Mahmudova, Barbara Kollmeyer
 
U.S. stocks finished with gains on Monday but off their highs of the session after a selloff in health-care stocks capped gains by the main indexes.
Hawkish comments from Federal Reserve President Dennis Lockhart’s on the likelihood of a rate increase this year seemed to give stocks a modest bump—unusual since investors have long feared the end of ultraloose monetary policy.
Lockhart, who is a voting member of the Fed this year, said he was confident there would be a rate increase this year.

European Stocks Rebound From Worst Drop in 2 Weeks: European Markets at Close Report by MarketWatch on September 21, 2015.

marketwatch.com

European stocks rebound from worst drop in 2 weeks

Sara Sjolin, Victor Reklaitis
Europe’s stock benchmark climbed Monday, rebounding from its steepest loss in two weeks thanks in part to optimism after Greece’s election.
Drug makers also provided a lift, offsetting Volkswagen AG’s drag as the auto maker’s shares plunged as its emission-test scandal deepened VOW3, -18.19%
The Stoxx Europe 600 SXXP, +0.86%  rose 0.9% to end at 357.83, after closing on Friday with its largest one-day loss since Sept. 4. Friday’s slide came after the U.S. Federal Reserve cited concerns about a slowdown in the global economy in its decision to keep interest rates at a record low.
European equities are “bouncing back following the re-election of Syriza in Greece, which is expected to pave the way for the passage of key reforms,” said Colin Cieszynski, chief market strategist at CMC Markets, in a note Monday. Read: ‘Grexit’ risks fade after Tsipras wins Greek election

Koos Jansen: Monetary gold Escapes International Trade Reports: GATA | THE GATA DISPATCH - September 21, 2015.

Koos Jansen: Monetary gold escapes international trade reports

Submitted by cpowell on  September 21, 2015Monday, September 21, 2015

International trade record-keeping rules exempt the reporting of movement of monetary gold, gold held or purchased by governments and central banks, gold researcher and GATA consultant Koos Jansen reports today. As a result, Jansen writes, gold acquired by the People's Bank of China or other proxies for the Chinese government is almost certainly not showing up in international trade statistics.

The Guardian Media Briefing - September 21, 2015:

Media briefing
Monday 21 Sep 2015
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Heads of seven Nordic public service broadcasters urge UK to protect BBC’s independence, saying diminished broadcaster reduces country’s standing
Presenter will also claim culture secretary has anti-BBC agenda in speech at Prix Italia awards
007 teams up with new female side-kick in $100m global ad campaign that launches on TV and in cinemas on Tuesday

France rejects Google appeal on cleaning up search results globally: Reuters - Technology - September 21, 2015.

reuters.com

France rejects Google appeal on cleaning up search results globally

By Leila Abboud
 
PARIS French data privacy regulators took a step towards sanctioning Google (GOOGL.O) by rejecting the company's request to drop a case against it for refusing to clean up information from its search engine results. Under Europe's so-called right to be forgotten, individuals can ask search engines such as Google and Microsoft's Bing (MSFT.O) to remove information that appears under a search of their name if it is incorrect, out of date, irrelevant or inflammatory.
Since the European Court of Justice ruling last year that granted this right to European residents, Google has fielded nearly 320,000 requests, granting about 40 percent of them. But it only de-lists the links on European versions of its sites, such as Google.fr or Google.de not globally, meaning the information remains available.

Gold Drops Amid Speculation: Mineweb Gold News - September 21, 2015.

Mineweb Mineweb Gold News -  21 September 2015

 
Gold drops amid speculation the Fed may opt to tighten in 2015

Gold drops amid speculation the Fed may opt to tighten in 2015
This despite the Fed opting to keep rates on hold last week.
 
Barrick safe from slide into junk amid cutbacks, president says

Barrick safe from slide into junk amid cutbacks, president says
The company has identified $1.6 bn of $2 bn in cost reductions.
 
Torex Gold signs agreement for permanent police presence

Torex Gold signs agreement for permanent police presence
For areas adjacent to the company's Morelos gold property.
 
'Plunging' Group Metals

'Plunging' Group Metals
Macquarie pieces together a bullish PGM outlook.
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Iron ore outlook cut by ANZ as China passes peak steel 2014 was the peak.

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Not even Glencore can lift the sagging copper market The metal with a PhD in economics has a lesson in how the Chinese economy is doing.

NYT First Draft on Politics - September 21, 2015: Republicans’ Comments Put Them on Other Side of Pope's Visiting Message

Monday, September 21, 2015

Monday, September 21, 2015

NYTimes.com/FirstDraft »

Temporary fences have been set up on the Ellipse as Washington prepares for the pope’s visit, where thousands of tourists will hope to see him.
Temporary fences have been set up on the Ellipse as Washington prepares for the pope’s visit, where thousands of tourists will hope to see him. Doug Mills/The New York Times
Republicans’ Comments Put Them on Other Side of Pope’s Visiting Message
By MAGGIE HABERMAN
Good Monday morning. Pope Francis has delivered an encyclical calling for increased action against climate change, denounced the role of global capitalism in increasing poverty, and enthusiastically supported the new nuclear accord with Iran, positions that have caused tensions in the Republican Party. Now the pope, whom American Catholics overwhelmingly support, arrives in the United States as Republicans wrestle with these issues and with perceptions of intolerance.

DealBook Today's Top Headlines - September 21, 2015: Second Chance for Tsipras | Kickstarter Stays Focused on Altruism | Alibaba's $105 Billion Lockup Ends


Monday, September 21, 2015
TODAY'S TOP HEADLINES
By AMIE TSANG
SECOND CHANCE FOR TSIPRAS Greek voters returned Prime Minister Alexis Tsipras of Greece to power on Sunday, even though he had abandoned the anti-austerity platform he was elected on, Suzanne Daley reports in The New York Times. Many of them said he had fought hard to get a better deal for the country and deserved a second chance.

His left-wing party, Syriza, led with more than 35 percent. It was followed by the right-leaning New Democracy and then Golden Dawn, the neo-fascist party.

Mr. Tsipras had focused on tackling homegrown issues during his campaign, rather than the bailout he was forced to accept over the summer. "The mandate that the Greek people gave us is crystal clear: to get rid of the wickedness and the regime of corruption and intertwined interests that have ruled the country for years," he said.

Stock Futures Higher Head of Housing Data, Fed Speaker: U.S. Stock Market Future Indications by MarketWatch - September 21, 2015.

marketwatch.com

Stock futures higher head of housing data, Fed speaker

Barbara Kollmeyer
Stock futures were making moderate gains early Monday, as investors waited for home-sales data and a speech from a key Federal Reserve member to provide further direction.
Futures for the Dow Jones Industrial Average YMZ5, +0.35%  rose 35 points to 16,353, while futures for the S&P 500 ESZ5, +0.33%  added 4.65 points to 1,955.25. Futures for the Nasdaq Composite NQZ5, +0.32%  were up 11.70 points to 4,338.50.
The dollar DXY, +0.15%  was rising along with crude prices CLV5, +1.61%  on Monday, but investors remained wary about stocks following the Federal Reserve’s decision last week to leave interest rates unchanged and its concerns about the global economy. Fears about global growth triggered losses on Friday, when the Dow industrials DJIA, -1.74%   and S&P 500 SPX, -1.62%   losing 1.7% and 1.6%.