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Mar 15, 2016

The Guardian l World US - March 16, 2016 (02:15 GMT): Trump and Clinton Win Big as Kasich Takes Ohio and Rubio Drops Out - Live.
Richard Luscombe
Trump claims he has been a victim of bad press. The Republican candidate seems to have conveniently overlooked the fact that political elections are perhaps the only time when the expression “all publicity is good publicity” actually holds true.
Polls have a feedback loop. When a candidate is ahead in the polls, they are more likely to stay ahead in the polls. And simple name recognition can help them to get that early lead. As a household name, Trump already had that recognizability which undoubtedly worked in his favor early on but the media emphasized that by relentlessly covering every word and every move of the billionaire.
As the New York Times showed earlier on today, Trump was essentially given free publicity. He spent far less on presidential ads than other candidates ($10m compared to Jeb Bush’s $82m) but earned $1,898 in media exposure from free coverage of his campaign. No other candidate comes close to that.
Hours before Hillary Clinton took the stage in West Palm Beach – even before polls in the state closed - her election night party pulsed to the Latin rhythms blaring over the loudspeakers. The cheered and chanted “Hillary” and “I’m with Her”, growing louder as the night unfolded.
Then came Clinton’s first big win of the night: Florida. The crowd erupted into deafening applause. Wins in North Carolina and Ohio, where the race between her and opponent Bernie Sanders was expected to be close, followed.
Then the crowd erupted in wild cheers and chants as Clinton emerged on stage. She smiled brightly, turned and waved to the crowd that encircled the podium.
“This is another Super Tuesday for the campaign,” Clinton says. “Thank for Florida, thank you North Carolina, than you Ohio.”
The crowd went wild again. By the end of the night, Clinton said, her campaign expected to expand its lead over Sanders to more than 300 pledged delegates – nearly enough to block his path to the nomination.
With Tuesday night’s wins, her campaign can confidently say it swept the south while rebutting the argument that she is a regional candidate whose wins are concentrated in states that Democrats don’t win in a general election. At this stage, she’s won the battleground states of Florida, Ohio, North Carolina, Virginia and Nevada.
The backdrop of the event – from the Latin music to the Spanish signage – worked as a reminder of the diverse coalition that has so far powered her biggest wins yet. Latinos and especially black voters have been at the heart of her string of major victories. While Sanders has made marginal gains among Latino and black communities, he has been unable to draw these voters away from Clinton in large enough numbers to make a difference.
During Clinton’s victory speech, she trained her fire on Donald Trump, who after big wins on Tuesday is increasingly likely to be the Republican nominee.
“This may be one of the most consequential campaigns of our lifetimes,” she said. “The next president will walk into the Oval Office next January…”
“YES SHE WILL,” someone in the crowd shouted.
Clinton continued: “... sit down at that desk and start making decisions that will affect the livelihoods of everyone in this country, indeed everyone on this planet.”
In the past week, Clinton has attempted to distinguish herself from Trump on an international stage, noting in the CNN debate earlier this week that she had world leaders reaching out to her about the tone and tenor of the election.
“Our commander in chief has to be able to defend our country, not embarrass,” Clinton declared in her remarks on Tuesday night. Clinton railed against Trump’s most controversial proposals, including his calls for mass deportations of all undocumented immigrants and barring Muslims from entering the US, as well as his embrace of torture.
“That doesn’t make him strong, that makes him wrong,” she declared.
Though results were still pending in two states by the time her speech ended, Tuesday night clarified and all but cleared Clinton’s path to the nomination, pushing her campaign into a new and unpredictable stage of the race.
Hillary Clinton greets people in the audience and takes photos during her election night event at the Palm Beach County Convention Center.
Hillary Clinton greets people in the audience and takes photos during her election night event at the Palm Beach County Convention Center. Photograph: Carolyn Kaster/AP
Trump wraps. No questions tonight.

Trump congratulates Rubio

Trump: “Northern Marianas Islands have been so incredible. And we picked up nine delegates, that’s a lot.”
Watch a live stream of Donald Trump in Palm Beach, Florida

Trump addresses supporters

Here’s Trump at Mar-a-Largo. Three wins tonight so far, one loss – and the Missouri result to come.

Trump wins Illinois

Trump has just been projected the winner of Illinois by AP, his third win of the night. Illinois Republicans will award 69 delegates proportionally.

Trump projected to win North Carolina

As we’re waiting for the Missouri results to come in, it’s worth remembering this was tonight’s least predictable primary. Only two Democratic polls have been conducted there this year, and only one poll has asked Republican voters who they prefer – those surveys suggested that Sanders and Clinton would be neck-and-neck and that Trump would be ahead of the Republican field (which so far appears true - but only by a whisker).
With 52 Republican delegates (distributed on a winner takes all basis) and 84 Democratic delegates available in Missouri, this will be an interesting primary.

Race updates: Illinois, Ohio, North Carolina

Cheers went up from the crowd gathered for John Kasich’s victory party in the field house at the small liberal arts college Baldwin Wallace University in Berea, Ohio (a suburb of Cleveland), as CNN announced that they were calling the Ohio Republican primary for their candidate.
Beth Ehrbar, a Berea resident who works at the university and used to be a constituent of Kasich’s during his time as a Columbus-area Congressman, declared herself “very excited!”
“I see John Kasich as a compassionate conservative,” she added, “and I’m very drawn to that.”
Compassionate conservativism – once used by George W Bush to describe his mixture of personal empathy and conservative policy prescriptions – has been key to Kasich’s campaign the last few months, as he’s tried to separate himself from the politics represented by Donald Trump, Ted Cruz and, more recently, Marco Rubio.
A few feet a way, a group of Alpha Sigma Phi fraternity members from Baldwin Wallace were celebrating the win. Patrick Hoang said that he voted for Kasich in Tuesday’s primary because “I believe John Kasich is the best candidate – and I wanted to be part of the effort to stop Donald Trump.”
“I’m really looking forward to a brokered convention,” he added. “I believe neither of them [Cruz or Trump} would be a good fit for the presidency.”
Austin Hermann, said, “I’m from Pennsylvania, so he has my vote there” on 26 April.
Ryan Ginley was even more enthusiastic. “He supports the red, white and blue, the constitution and our country, so I support John Kasich” – who, it should be noted, was himself an Alpha Sigma Phi brother, according to the Baldwin students.
John Kasich celebrating his win.
John Kasich celebrating his win. Photograph: Aaron Josefczyk/Reuters

FDIC Office of Inspector General Report Update - March 15, 2016: Report of Inquiry into FDIC's Supervisory Approach to Refund Anticipation Loans and the Involvement of FDIC Leadership and Personnel.


GATA l THE GATA DISPATCH - March 15, 2016: 2 Articles: Closer Look at London Metal Exchange Aluminum Prices Reveals Anomalies l U.S. Inflation Rears Its Ugly Head as Global Cycle Nears Danger Zone

CMI Spot Prices as of Close of Trading in New York on March 15, 2016.

Spot Prices as of traditional New York closing times

Tuesday, March 15, 2016

The Guardian l World l Australia l Australian Politics - March 15, 2016: Cross-Party Support Builds For Royal Commission into Financial Industry.

Gabrielle Chan
Pressure is building for a royal commission into the financial industry after a cross-parliamentary group backed a full investigation into life insurance, forestry managed investment schemes and financial planning.

WSJ l Major Indexes Closing on March 15, 2016.

The Wall Street Journal Major Indexes Closing
Major Indexes 5:46 p.m. EDT 03/15/16

WSJ l Forex Closing on March 15, 2016.

The Wall Street Journal Forex Closing
Major Currencies
Tuesday, March 15, 2016

WSJ l Biggest Gainers Closing on March 15, 2016.

The Wall Street Journal Biggest Gainers Closing
Biggest Gainers
4:46 pm ET 03/15/2016

WSJ l Biggest Decliners Closing on March 15, 2016.

The Wall Street Journal Biggest Decliners Closing
Biggest Decliners
4:46 pm ET 03/15/2016

WSJ l Most Actives Closing on March 15, 2016.

The Wall Street Journal Most Actives Closing
Most Active Stocks by Volume
4:31 pm ET 03/15/2016

DealBook P.M. Edition - March 15, 2016: Top Story: Valeant Reports Loss and Cuts Forecast in Preliminary Financial Statement.

Tuesday, March 15, 2016
J. Michael Pearson, chief executive of Valeant Pharmaceuticals International.
Valeant Reports Loss and Cuts Forecast in Preliminary Financial Statement The company, which is facing inquiries over its drug-pricing policies, had previously delayed the release of its earnings. Its shares dropped sharply.

SEC Press Release - March 15, 2016: SEC Charges Operator of Ponzi Scheme That Claimed to Offer “Bridge Loans” to Jamaican Businesses.

SEC Seal
The Securities and Exchange Commission today charged a former Boston resident with operating a $10 million Ponzi scheme that claimed to generate profits from “bridge loans” to businesses in Jamaica.

GATA l THE GATA DISPATCH - March 15, 2016: TF Metals Report: Gold Futures Market Again in Smashdown Position.

Submitted by cpowell on March 15, 2016 March 15, 2016

Wall Street at Close Report on March 15, 2016, by CNBC: Stocks Close Mostly Lower Ahead of Fed.

U.S. stocks closed mostly lower Tuesday as a decline in health care stocks weighed and investors awaited the Wednesday afternoon conclusion of the Federal Reserve meeting.

European Markets at Close Report on March 15, 2016, by CNBC: Europe Closes Lower as Oil Falls; Miners Slip 4.8%.

Holly Ellyatt, Alexandra Gibbs
European stocks finished in negative territory on Tuesday, on the back of a sharp slip in mining stocks and oil prices.

SEC Press Release - March 15, 2015: Municipal Advisor Charged for Failing to Disclose Conflict.

SEC Seal

The Securities and Exchange Commission today charged Kansas-based Central States Capital Markets, its CEO, and two employees for breaching their fiduciary duty by failing to disclose a conflict of interest to a municipal client.  The case is the SEC’s first to enforce the fiduciary duty for municipal advisors created by the 2010 Dodd-Frank Act, which requires these advisors to put their municipal clients’ interests ahead of their own.

FDIC Press Release - M arch 15, 2016: FDIC Board Adopts Final Rule to Increase Deposit Insurance Fund to Statutorily Required Level.


Press Release

FDIC Board Adopts Final Rule to Increase Deposit Insurance Fund to Statutorily Required Level

ESA l Manufacturing and Trade,Inventories and Sales: January 2016 Business Inventories were Up 0.1% From December and Up 1.8% From January 2015.

 ESA Overlay Banner
January 2016 business inventories were $1,812.3 billion, up 0.1 percent from December and up 1.8 percent from January 2015.  Sales were $1,296.2 billion, down 0.4 percent from the previous month and down 1.1 percent from one year earlier.

FTC Press Release - March 15, 2016: Lord & Taylor Settles FTC Charges It Deceived Consumers Through Paid Article in an Online Fashion Magazine and Paid Instagram Posts by 50 “Fashion Influencers”.

FTC@100 Banner

Promotions Were Part of the Company’s March 2015 Design Lab Collection Launch
National retailer Lord & Taylor has agreed to settle Federal Trade Commission charges that it deceived consumers by paying for native advertisements, including a seemingly objective article in the online publication Nylon and a Nylon Instagram post, without disclosing that the posts actually were paid promotions for the company’s 2015 Design Lab clothing collection.
The Commission’s complaint also charges that as part of the Design Lab rollout, Lord & Taylor paid 50 online fashion “influencers” to post Instagram pictures of themselves wearing the same paisley dress from the new collection, but failed to disclose they had given each influencer the dress, as well as thousands of dollars, in exchange for their endorsement.
In settling the charges, Lord & Taylor is prohibited from misrepresenting that paid ads are from an independent source, and is required to ensure that its influencers clearly disclose when they have been compensated in exchange for their endorsements.
“Lord & Taylor needs to be straight with consumers in its online marketing campaigns,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “Consumers have the right to know when they’re looking at paid advertising.”
According to the FTC, over a weekend in late March 2015, Lord & Taylor launched a comprehensive social media campaign to promote its new Design Lab collection, a private-label clothing line targeted to women between 18 and 35 years old. The marketing plan included branded blog posts, photos, video uploads, native advertising editorials in online fashion magazines, and online endorsements by a team of specially selected “fashion influencers.”
Design Lab Paisley Asymmetrical Dress that was the subject of the Nylon social media campaignThe complaint alleges that Lord & Taylor placed a Lord & Taylor-edited paid article in Nylon, a pop culture and fashion publication. Nylon also posted a photo of the retailer’s Design Lab Paisley Asymmetrical Dress on Nylon’s Instagram site, along with a caption that Lord & Taylor had reviewed and approved. The Instagram post and article gave no indication to consumers that they were paid advertising placed by Lord & Taylor.
Over the same weekend in March 2015, Lord & Taylor gave 50 select fashion influencers a free Paisley Asymmetrical Dress and paid them between $1,000 and $4,000 each to post a photo of themselves wearing it on Instagram or another social media site. While the influencers could style the dress any way they chose, Lord & Taylor contractually obligated them to use the “@lordandtaylor” Instagram user designation and the hashtag “#DesignLab” in the caption of the photo they posted. The company also pre-approved each proposed post.
In addition, the FTC’s complaint charges that Lord & Taylor did not require the influencers to disclose that the company had compensated them to post the photo, and none of the posts included such a disclosure. In total, the influencers’ posts reached 11.4 million individual Instagram users over just two days, led to 328,000 brand engagements with Lord & Taylor’s own Instagram handle, and the dress quickly sold out.
The proposed consent order settling the FTC’s complaint prohibits Lord & Taylor from misrepresenting that paid commercial advertising is from an independent or objective source. It also prohibits the company from misrepresenting that any endorser is an independent or ordinary consumer, and requires the company to disclose any unexpected material connection between itself and any influencer or endorser. Finally, it establishes a monitoring and review program for the company’s endorsement campaigns.
The FTC recently issued an enforcement policy statement that businesses can use to ensure they make required disclosures in native advertisements.
The Commission vote to issue the administrative complaint and to accept the proposed consent agreement was 4-0. The FTC will publish a description of the consent agreement package in the Federal Register shortly.
The agreement will be subject to public comment for 30 days, beginning today and continuing through April 14, 2016, after which the Commission will decide whether to make the proposed consent order final. Interested parties can submit comments electronically by following the instructions in the “Invitation To Comment” part of the “Supplementary Information” section.
NOTE: The Commission issues an administrative complaint when it has “reason to believe” that the law has been or is being violated, and it appears to the Commission that a proceeding is in the public interest. When the Commission issues a consent order on a final basis, it carries the force of law with respect to future actions. Each violation of such an order may result in a civil penalty of up to $16,000.

The Federal Trade Commission works to promote competition, and protect and educate consumers.

 Lord & Taylor Settles FTC Charges It Deceived Consumers Through Paid Article in an Online Fashion Magazine and Paid Instagram Posts by 50 “Fashion Influencers”

Contact Information

Mitchell J. Katz
Office of Public Affairs

Robin Rosen Spector
Bureau of Consumer Protection

DealBook Today's Top Headlines - March 15, 2016: Unpacking a Chinese Company's Spree on U.S. Hotels | Investors Increasingly Bullish on Energy Sector | Bar Association to Enforce Stricter Timeline for Passing Exam.

Tuesday, March 15, 2016
UNPACKING A CHINESE COMPANY'S SPREE ON U.S. HOTELS Marriott International's deal to buy Starwood Hotels & Resorts Worldwide may be derailed by a Chinese insurer expanding its hotel empire, Chad Bray and Leslie Picker report in DealBook.

BLS Press Release - March 15, 2016: PPI for Final Demand Decreases 0.2% in February; Goods Decline 0.6%, Services Unchanged.

  Bureau of Labor Statistics

PPI for final demand decreases 0.2% in February; goods decline 0.6%, services unchanged

The Producer Price Index for final demand fell 0.2 percent in February. Final demand prices advanced 0.1 percent in January and declined 0.2 percent in December. In February, prices for final demand goods declined 0.6 percent and the index for final demand services was unchanged.

U.S. Stock Market Future Indications - March 15, 2016, by MarketWatch: U.S Stocks Futures Extend Losses After Mixed Data.

Ellie Ismailidou, Barbara Kollmeyer
Stock futures extended losses Tuesday, after a flurry of economic data offered a mixed picture of the U.S. economy a day ahead of the Federal Open Market Committee’s decision on interest rates.
Continued pressure on oil prices pulled down the shares of energy companies, weighing on the main benchmarks.

Asian Markets at Close Report on March 15, 2016, by MarketWatch: Asian Markets Fall as Bank of Japan Holds Fire Commodity Prices Drop.
Dominique Fong 
Most Asian stock markets closed lower Tuesday amid weaker oil and commodities prices.
Investors were watching the Bank of Japan, which in the afternoon announced it was keeping the reserves deposit rate at minus 0.1%. Japan’s Nikkei Stock Average NIK, -0.68% fell sharply after the announcement and closed 0.7% lower.

The Guardian l UK l Media Briefing - March 15, 2016: Today's Media Stories From The Papers.

Top story on MediaGuardian

Top Gear: BBC says Cenotaph will not appear in TV car stunt
War memorial will not be broadcast on Top Gear, as Westminster says it did not permit wheelspins on Whitehall