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Latest Articles: Business/Finance
Facebook friends could change your credit score
Post Date: 2013-09-01 21:24:27 by X-15
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Choose your Facebook friends wisely; they could help you get approved -- or rejected -- for a loan. A handful of tech startups are using social data to determine the risk of lending to people who have a difficult time accessing credit. Traditional lenders rely heavily on credit scores like FICO, which look at payments history. They typically steer clear of the millions of people who don't have credit scores. But some financial lending companies have found that social connections can be a good indicator of a person's creditworthiness. One such company, Lenddo, determines if you're friends on Facebook (FB) with someone who was late paying back a loan to Lenddo. If so, ...
China oil giant buys into strife-hit Egypt for $3.1 bln
Post Date: 2013-09-01 04:36:12 by Tatarewicz
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Chinese oil giant Sinopec is entering Egypt despite the country's political strife, announcing on Friday it is buying a $3.1 billion stake in an existing operation as China scours the globe for energy reserves. State-owned Sinopec will buy a one-third share in the Egyptian oil and natural gas business of US firm Apache Corp., the companies said. The deal, which is still subject to regulatory approval, marks Sinopec's first entry into exploration and production for oil and gas in Egypt, Sinopec said. It is the latest major Chinese resources acquisition abroad and comes after CNOOC, another Chinese state-owned energy giant, bought Canada's Nexen in a $15 billion deal last ...
Investments the Feds Say You're Too Poor to Make
Post Date: 2013-08-31 05:11:12 by Tatarewicz
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Like many of you, I spent most of the second half of 2011 glued to my television screen, watching the Occupy Wall Street protests swell from a grassroots campaign to a full-scale movement with global attention. What struck me as most odd about the whole thing even back then was the focus on Wall Street, and not on Capitol Hill or the White House... Yes, of course, there is a great wealth divide in this country between the so-called 1-percenters and everyone else. But even that anomaly is rooted in legislation adopted in Washington, D.C., decades ago — not any systemic abuses in New York City. It all goes back to the signing of the Securities and Exchange Commission back in 1934 ...
Finding Out It’s True About Bankers
Post Date: 2013-08-29 08:07:10 by Ada
4 Comments
I’m back, and finally calmed down, from my disastrous trip to the bank. I’ve never been so angry and humiliated in my life, even including that embarrassing time in the seventh grade when the beautiful Jennifer, whom I deeply, deeply loved more than life itself, told Mary Sue, who told Marcie, who told her boyfriend Mark, who told Todd, who told Bob, who told me, and now everybody knew, that she thinks I’m icky. Anyway, old scars that never quite heal aside, my day started off innocently enough by my noticing that the enormous, bankrupting national debt has mysteriously stabilized, at $16.738 trillion, for the last few months in a row, probably connected to it being ...
Large gold deposit found in south China
Post Date: 2013-08-27 19:41:44 by Tatarewicz
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GUANGZHOU, Aug. 27 (Xinhua) -- Chinese geologists confirmed on Tuesday that they have discovered a large gold deposit with estimated reserves of 21 metric tons in south China's Guangdong Province. It is the third such gold deposit in the province and has a potential value worth billions of yuan, sources with the Guangdong Geological Bureau said. The deposit is located in western Guangdong and its main body measures about 800 meters long, sources said. In addition to the gold, the deposit also has reserves of silver of about 26 metric tons, according to the bureau. Two other gold deposits, each with reserves of over 20 tons, were found in Guangdong in the 1980s and 1990s. ...
China electric carmaker BYD expanding into hybrids
Post Date: 2013-08-27 01:18:38 by Tatarewicz
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SHANGHAI (Reuters) - BYD Co Ltd , the Warren Buffett-backed company best known for electric cars, is in the midst of a revival thanks to traditional gasoline-fueled vehicles. Its car sales jumped 25 percent to more than 250,000 units in the first six months of this year, outpacing China's overall auto market growth rate of 11 percent. The vast majority of those were gasoline-powered, not electric. The recovery in gasoline car sales, which account for half of BYD's revenues, has raised investors' hopes that the company is once again starting to live up to the promise that attracted big-name backers such as Buffett. Profits from those gasoline cars, as well as from selling ...
Iran takes over gas plant construction from China
Post Date: 2013-08-26 22:30:59 by Tatarewicz
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National Iranian Oil Company (NIOC) has signed a five-billion-dollar buy-back deal with Petropars Ltd. (PPL) for the development of Phase 11 of the massive offshore South Pars gas field. The Iranian company PPL is replacing China National Petroleum Corporation (CNPC) whose contract was terminated due to its foot-dragging on the development project. Hadi Mirbaqeri, a PPL project manager, said the company has already proven its qualifications in the development of phases 12 and 19 of South Pars. He added that the new contract involves construction and installation of two wellhead platforms, drilling 12 wells in each of the platforms, and construction of single buoy mooring (SBM) ...
Typing error sends Tel Aviv Stock Exchange plummeting
Post Date: 2013-08-25 14:45:06 by Jethro Tull
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Tel Aviv stock exchangeIsrael CorporationTel Aviv A typing error caused the value of one of Israel’s largest companies to instantly drop over 99% in value Sunday, dragging the Tel Aviv stock exchange down several points before the mistake was discovered and fixed. The Israel Corporation saw its value plummet by 99.88% in a matter of minutes around noon on Sunday, bringing the TA-25 index down by 2.5% and triggering an automatic fail safe that shut down trading for a short time. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1328660580467-1'); }); The catastrophic mistake was apparently caused during a transaction by a trader who wanted to sell shares ...
Excerpt from "Why Swatch Matters", the truth about global outsourcing
Post Date: 2013-08-24 16:24:48 by X-15
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This article isn't online, so I've transcribed it for your edification. This was in response to a question about a new watch and the the Swiss watch industry that Swatch Group (Breguet, Harry Winston, Omega, Tiffany & Co., Longines, Tissot, Hamilton, Swatch, etc.) CEO Nick Hayek Jr. expounded upon: WT: So that's the message of Sistem 51? (a new watch and mfg system) NH: It's a message to the industry, but not just the watch industry. We have a real problem in Europe and in the United States. All these countries need to go back not just to investing in research and development. Today most companies take the easy way that pleases the short-term thinking of the stock ...
Schiff: We're Heading For A Crisis
Post Date: 2013-08-22 23:43:16 by X-15
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Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions. That's according to Peter Schiff, the best-selling author and CEO of Euro Pacific Capital, who delivered his frightening warning to investors in a recent interview on CCTV. "The problem with politicians is they don't want to level with the voters and tell them how bad the economy really is and what the cure for the disease is," Schiff said. The "disease" Schiff refers to is a toxic combination of our ...
Russia-China plan joint development of wide-body aircraft
Post Date: 2013-08-22 22:32:17 by Tatarewicz
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PressTV A senior Russian official has revealed plans by Moscow and Beijing to collaborate in a joint bid to develop a wide-body long-haul passenger airliner. Russian Deputy Prime Minister Dmitry Rogozin emphasized on Tuesday that the joint project is only financially viable as a collaborative effort (with the Chinese) at a time European Airbus and American Boeing companies account for 80 percent of Russia’s long-range passenger aircraft market, RIA Novosti reported. Rogozin, however, offered no clue about the project’s current status, merely noting that Russian aircraft design bureau chiefs were due to meet and discuss the issue soon. The future airliner, he also emphasized, ...
China approves pilot free trade zone in Shanghai
Post Date: 2013-08-22 21:05:58 by Tatarewicz
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BEIJING, Aug. 22 (Xinhua) -- China's State Council has approved the establishment of a pilot free trade zone in Shanghai, according to a Ministry of Commerce statement on Thursday. Covering 28.78 square kilometers, the new zone will be built on the basis of existing bonded zones -- Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone. The pilot zone is a crucial move in adapting to global economic and trade development and imposing a more proactive opening-up strategy, said the statement, adding it will help explore a new path for China's opening up, speed up transformation of government ...
China produces world's heaviest freight train
Post Date: 2013-08-17 23:45:07 by Tatarewicz
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HARBIN, Aug. 16 (Xinhua) -- A leading Chinese rolling stock manufacturer said Friday it has produced the world's heaviest freight train with a maximum loading capacity of nearly 155 tonnes per wagon. CNR Qiqihar Railway Rolling Stock Co., Ltd. delivered the train to global mining giant Rio Tinto on Friday. The maximum axle load of each wagon is 44 tonnes and the train has a total carrying capacity of 30,000 to 50,000 tonnes. The train shows that China is a global leader in freight train research, development and manufacturing, according to the company. Based in the city of Qiqihar in northeast China's Heilongjiang Province, Qiqihar Railway Rolling Stock is a leading domestic ...
Russia's Gazprom, American Halliburton sign major energy deal
Post Date: 2013-08-15 21:47:07 by Tatarewicz
3 Comments
Russia’s state-owned energy giant Gazprom Neft has signed a major cooperation agreement with the huge American energy services corporation Halliburton to facilitate “technological exchanges” to boost production. “One aspect of cooperation will be special technical seminars for employees of Gazprom Neft, with the aim of getting to know the main ways in which Halliburton uses its technology,” Gazprom announced on Tuesday in a statement posted on its website. “Some of the most important topics will concern work with tight oil reserves, unconventional resources and deep-water drilling,” it added. The deal is reportedly the latest in a growingly close ...
Elon Musk’s Tesla Is “Boring” Compared to Hyperloop So Build It Now
Post Date: 2013-08-13 12:37:39 by Ada
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Why Is TV Cooler Than Movies These Days? Because Of The Mexicanization Of The American Audience.
Post Date: 2013-08-12 13:42:42 by Big Meanie
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Why is TV cooler than movies these days? There are a lot of reasons for the decline in Cool Factor of movies relative to television, but this new Wall Street Journal article updates the numbers behind a big contributor that I identified in Taki's Magazine four years ago. From the WSJ: Hollywood Takes Spanish Lessons As Latinos Stream to the Movies In the past few years, Hispanics have become some of Hollywood's best customers. Though 15% of Americans over the age of 12 are Latino, they accounted for 25% of all movie tickets sold in the U.S. in 2012, according to a Nielsen Co. study. The average Hispanic moviegoer went to nearly 10 films in the year, compared with just ...
US cities got €18.5 billion from German banks
Post Date: 2013-08-12 03:40:03 by Tatarewicz
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Local-Germany Germany's biggest banks have been lending US cities money to the tune of around €18.5 billion. Bankrupt Detroit, it emerged on Monday, has been on of the main recipients, causing concern for Commerzbank. Unlike in Germany, cities and towns in the US can declare insolvency. And after Detroit did just that, financial supervision group Bafin looked at how much money German banks and insurance companies have been lending their transatlantic friends of late, the Frankfurter Allgemeine Zeitung reported on Monday. Eurohype, a subsidiary of Germany's second largest bank Commerzbank, lent €310 million to Detroit alone in the run up to it declaring bankruptcy this ...
China immigrant-financed car plant in limbo in US
Post Date: 2013-08-11 21:58:05 by Tatarewicz
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TUNICA, Miss. (AP) — Four years ago, a startup car company announced with great fanfare big plans for the Mississippi Delta: Using money from foreign investors and other sources, it would build a massive auto plant to churn out a new line of energy-efficient cars and bring thousands of jobs to the area. It seemed like a win for everyone involved. The foreign investors who plunked down at least $500,000 for the venture would get the opportunity to stay in the United States and a path to citizenship, an impoverished area of Mississippi would get some desperately needed jobs, the state would generate tax revenues, and the political leaders involved would be able to tout job-creation ...
Chinese automaker's Brazilian plant to begin operations
Post Date: 2013-08-11 21:00:07 by Tatarewicz
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HEFEI, Aug. 11 (Xinhua) -- China's privately-owned automaker Chery will open its new plant in Brazil this year, sources of the company said Sunday. Chery Auto started in 2011 to build the plant in the city of Jacarei in Sao Paulo State with an investment of 2.45 billion yuan (400 million U.S. dollars). Brazil has become one of the most important overseas markets for Chery since it first set foot in the country in 2009. Chery Auto has introduced several models to Brazil including QQ, Cielo and Tiggo, which won the country's title of "SUV of the year" in 2010. In July 2013, police in Sao Paulo State started using Celer models, the first time that Chery cars have been ...
The Dreadful Summer Wind
Post Date: 2013-08-07 13:22:14 by Rube Goldberg
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The Dreadful Summer Wind by James Howard Kunstler The world is swiftly moving to the dangerous place where nations won’t be able to do business with each other because they don’t trust the institutions that control wealth, which includes central banks, commercial banks, and governments. It will happen when the purveyors of international commodities, oil especially, refuse to accept the letters of credit issued by untrustworthy intermediaries. And when that dark moment arrives, nations will throw tantrums. The USA may be the loudest baby in the playpen. The USA is veering into a psychological space not unlike the wilderness-of- mind that Germany found itself in back in the early ...
Obama’s Terrorism Hoax is Simply a Tool to Justify his Continued Tyranny
Post Date: 2013-08-07 08:01:25 by Ada
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Washington, DC—I have access to intelligence material that’s been passed around to local and state cops as part of the recent terrorism warnings. Frankly it’s all baloney designed to scare the public into thinking Barack Obama’s suspension of our privacy, liberty and freedom is somehow necessary. They have cited several prison breaks have occurred over the last five months in the Middle East and Indonesia. A few of the 1,500 prisoners that escaped are supposed big boys in the terrorism business. That’s really, business as usual since none of them ever did anything on our soil. It is now the Muslim Holy month of Ramadan. Ramadan began on July 9 and ends on August ...
The “New Economy” Is The No Jobs Economy
Post Date: 2013-08-05 23:08:27 by Southern Style
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The “New Economy” Is The No Jobs Economy By Paul Craig RobertsAugust 05, 2013 "Information Clearing House - One of my most popular columns was about escaping from the Matrix existence in which Americans live. It is a world of disinformation and misinformation in which facts are fiction, and abstract theories are substituted for empirical reality. Official government statistics are make-believe. The government makes inflation and unemployment disappear by how it defines inflation and unemployment, and it makes the economy grow by how it defines Gross Domestic Product. The definitional basis determines the statistical result. For example, in his report on the ...
Being A Human Sign Is Just Another Job Robots Will Do--And For Which Immigrants Aren't Needed
Post Date: 2013-08-05 13:56:32 by Big Meanie
14 Comments
Back in 2006, I pointed out that the rapid spread from Mexico to California of "human directionals," people paid to stand on street corners and jiggle giant arrows pointing to real estate open houses exemplified the 21st Century's Cheap Labor / Expensive Land economy. As I wrote in a 2008 short story "Unreal Estate" about a house-hunting trip to Antelope Valley: Once off the highway, you see at least one person standing at every intersection twirling or jiggling a giant arrow pointing to an open house. “Human Signs,” nods Travis. “Like back in the Depression when guys would walk around wearing sandwich boards reading ‘Eat at ...
Libertarians Bite the Gold Dust
Post Date: 2013-08-04 09:13:36 by Buzzard
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It's hard to think of a more pathetic example of auto-combustion as the visitor decline at Libertarian websites run by Gary North, Lew Rockwell and Mises.org. Few still believe that Gold will stop the bankers. Gold is deflationary, which would worsen an already grim scenario and does nothing to end usury. America itself is in the absolute worst of positions to go Gold because nobody has any, the Federal Reserve least of all. Rand Paul recently suggested a Gold commission, but with his father gone, he is useless in the Truth Movement. The only person plugging him is Alex Jones, who was also instrumental in giving Ron 'Arabs did 9/11′ Paul a platform. But just about everybody ...
Ravenous Vampire-Hounds Of Inflationary Hell
Post Date: 2013-08-02 08:10:36 by Ada
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Thinking back on it, I see that I was, indeed, “on the edge” of going, as I seem to routinely be these days, completely berserk about how the evil Federal Reserve is creating so irresponsibly much, so staggeringly much, so impossibly much, so disastrously much excess currency and credit that We’re Freaking Doomed (WFD) to ruination and complete bankruptcy by the unstoppable inflation in prices, crushing weight of unpayable debt and a monstrous, suffocating government. And this always leads to the destructive action of angry, unemployed, hungry, bankrupted mobs that such a grotesque inflation in the money supply always — always! — produces. As proof, ancient Egypt ...
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