Showing posts from August, 2018

Labor claims Michaelia Cash avoiding scrutiny in AWU raid investigation | Australia news I The Guardian

Image Paul Karp Michaelia Cash did not provide any additional information to police investigating the tipoff to the media about the raid on the Australian Workers’ Union headquarters, leading Labor to accuse her of refusing to cooperate with the police. Guardian Australia understands the former employment minister’s evidence to the police consisted of only a witness statement detailing her evidence already in the public domain and she was not asked follow-up questions. While Labor leapt on the revelation as a sign of Cash’s evasiveness on the AWU raid leak, sources close to Cash believe it supports her version of events that neither she nor her office is under investigation. The Australian Financial Review, which first reported the revelation , suggested the leak made Cash a victim of payback culture within the Liberal party after she helped depose Malcolm Turnbull in last week’s leadership clash. A senior

EU FX: Dollar up for a second day on global trade tension I CNBC CNBC

Bonds & Fixed Income Report: Treasury yields slip as global trade friction resurfaces I CNBC Thomas Franck, Alexandra Gibbs Friday marks the deadline for a new trade deal to be secured by the U.S., Mexico and Canada. While an agreement has been struck between the States and Mexico to replace the current NAFTA pact, Canada has yet to secure its place. In the latest, the U.S. and Canada worked deep into the night on Thursday to push for an alternative to NAFTA, however Canada's trade minister said they are still working to "get the right deal, not any deal" on the refurbished trade accord; Reuters reported. With the deadline fast approaching, investors will be keeping a close eye on the developments. Trade turmoil continues to shake up investors worldwide however, following a Bloomberg report citing sources suggesting that the U.S. administration was on standby to inflict additional levies on $200 billion worth of Chinese goods as soon as next week. In an interview with Bloomberg, the U.S. leader went onto warn th

Oil Price at Close Report: Oil holds near $70 as Iran sanctions offset trade war worries I CNBC

Image CNBC Oil pumpjacks in silhouette at sunset. Oil prices slipped on Friday but remained near $70 a barrel as impending U.S. sanctions on Iran and falling Venezuelan output offset concerns over the impact of a global trade war. Benchmark Brent crude oil was down 35 cents a barrel at $77.42 by 2:18 p.m. ET. U.S. light crude ended Friday's session down 45 cents lower at $69.80. Despite Friday's losses, both Brent and U.S. light crude jumped about 2 percent this week after strong gains in the last two sessions. U.S. light crude gained 1.5 percent in August, while Brent was on track for a rise of 4.3 percent. Some analysts say the uptrend in crude prices will continue. "Brent prices will exceed $80 per barrel before the end of the year," U.S. bank Jefferies forecast on Friday. Oil markets are tightening with a recent surplus draining, trade figures show. The volume of unsold crude stored in the

Gold Price at Close Report - Gold rises, set for longest monthly losing streak in 5½ years I CNBC CNBC

Wall Street At Close Report: Stocks clinch best August performance in over 4 years despite trade turmoil I CNBC.

Image Michael Sheetz, Thomas Franck, Alexandra Gibbs U.S. stocks dropped Friday as the United States and Canada put off resolving their trade dispute. Several indexes closed with historic highs for the month of August, as both the Nasdaq Composite and the S&P 500 notched all-time highs this week. Friday marks the U.S.-imposed deadline for a new trade deal to be secured by the U.S. and Canada. The latter country's trade negotiator Chrystia Freelan

HBO’s Misguided Quest to Become Netflix – No Mercy I Medium Scott Galloway From the age of 25–40, my range of emotions could generously be described as “narrow.” I loved nobody, and the only real emotions I felt were satisfaction or disappointment from my ambition as I howled in the money storm. My approach to life could best be summarized as “I want more, fucking more.” Problem is, “more” started getting harder to define. During that 15-year period, I laughed out loud a lot less than before and didn’t cry once. Not once. The only time I ever really “felt” anything was under the influence of media, in particular TV. A hundred years from now, TV will be recognized as the defining art form of our age. The final scene from the series finale of Six Feet Under , as we see the deaths of all the characters we’ve come to know over the last seven years Michael ( Six Feet Under ) realizes he’s on the bus that killed his father and begins to sob A mob soldier ( Sopranos ), seeing no way out

European Markets at Close Report: Europe ends deep in the red amid renewed global trade war concerns; Whitbread climbs 14.3% I CNBC Sam Meredith, Alexandra Gibbs

Exclusive: Chief U.S. spy catcher says China using LinkedIn to recruit Americans I Reuters

Image Warren Strobel, Jonathan Landay8 Min Read WASHINGTON (Reuters) - The United States’ top spy catcher said Chinese espionage agencies are using fake LinkedIn accounts to try to recruit Americans with access to government and commercial secrets, and the company should shut them down. William Evanina, the U.S. counter-intelligence chief, told Reuters in an interview that intelligence and law enforcement officials have told LinkedIn, owned by Microsoft Corp., about China’s “super aggressive” efforts on the site. He said the Chinese campaign includes contacting thousands of LinkedIn members at a time, but he declined to say how many fake accounts U.S. intelligence had discovered, how many Americans may have been contacted and how much success China has had in the recruitment drive. German and British authorities have previously warned their citizens that Beijing is using LinkedIn to try to recruit them as spies. But th

Buffett Buys More Apple, Calls iPhone 'Enormously Underpriced' I CNBC Daniel Libert Warren Buffett  continues to add to his already large stake in Apple Inc. ( AAPL ). In an interview with CNBC  on his birthday, the famous investor said that Berkshire Hathaway Inc. ( BRK.A ) had bought “just a little [more]” shares in the iPhone maker since the end of the June quarter. According to its last regulatory filing, Buffett’s firm had increased its stake in Apple to 252 million shares in the second quarter. According to Bloomberg , Berkshire's investment in Apple is worth more than $50 billion, making it the third-biggest shareholder in the Cupertino, California-based company with a more-than 5% stake. (See also: Warren Buffet's Berkshire Portfolio is Now 24% Apple: 13F .) Buffett Believes the iPhone is "Enormously Underpriced" Buffett told CNBC that he continues to buy Apple shares because of the strength of the company's brand and ecosystem. The investor was particularly enthusiastic abou

Stocks making the biggest move premarket: KO, LULU, ULTA, BIG & more Peter Schacknow Check out the companies making headlines before the bell: Coca-Cola – Coca-Cola struck a deal buy Costa , the world's second-largest coffee chain, from Britain's Whitbread for $5.1 billion, including assumed debt. Costa has nearly 4,000 locations across a variety of international markets. Lululemon – Lululemon reported second-quarter profit of 71 cents

China's agriculture ministry says containment of African swine fever complex and serious I Health News I Reuters

Image AMES, Iowa (Reuters) - An outbreak of African swine fever (ASF) in China’s hogs is probably bigger than what has been reported publicly, U.S. Agriculture Secretary Sonny Perdue said on Thursday. Piglets are seen by a sow at a pig farm in Zhoukou, Henan province, China June 3, 2018. REUTERS/Stringer “We think that it probably has been underreported in China - the way they’re able to control their media about that,” Perdue said at Landus Cooperative office in Ames, Iowa. China on Aug. 3 reported its first cases of the deadly ASF in Liaoning province and found another outbreak in Zhengzhou in central Henan province two weeks later. The Ministry of Agriculture and Rural Affairs on Thursday said ASF has infected 185 pigs on a farm in Wuhu, in eastern Anhui province, China’s fifth outbreak of the deadly disease this month. The news has pushed up U.S. hog prices and raised concerns of the disease spreading into other pa

When liberals are rooting for Jeff Sessions, you know something’s wrong: Top Opinion I The Washington Post

Image How on earth did Jeff Sessions — Jeff Sessions!  — find himself abandoned by the right and embraced by the left? For sure, President Trump has a special talent for matchmaking strange bedfellows. He has somehow gotten liberals to feel a begrudging sympathy or even admiration for figures they once reviled. Think:  Sen. Jeff Flake (R-Ariz.),  James B. Comey , Sen. Ted Cruz (R-Tex.) (however briefly), the  Kochs . Even ex-Trump lawyer  Michael Cohen  is getting some love (and donations) from left-wingers. But, surely, the unlikeliest of the left’s adopted underdogs is Trump’s embattled U.S. attorney general. Publicly and privately, the president has expressed his displeasure with Sessions. Trump complains that Sessions has been  disloyal   and   disgraceful , that he has  gone soft on  Hillary Clinton  and the “deep state,” and even that he  talks funny . Look, there are lots and lots of reasons to criticize Se

Will stocks slump if the US dumps Trump? I Money Week

Image By: Chris Carter Stockmarkets were unfazed by the Clinton impeachment drama Following chatter that he might be impeached, President Donald Trump warned that any such move would lead to a market crash and “everybody would be very poor”. He was speaking after his ex-lawyer Michael Cohen pleaded guilty to violating election rules. But what would impeaching Trump actually mean for financial markets? Not a lot, is the likely short answer. The first reason for this, according to Fidelity’s Tom Stevenson in The Daily Telegraph, is that his most economically positive policies have already been implemented. Were Trump to be removed, his replacement Mike Pence would be unlikely to change tack. Besides, investors are generally happy to overlook political dramas in Washington and focus on the economic and market fundamentals instead