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Latest Articles: Business/Finance
Chinese train manufacturer wins US metro deal
Post Date: 2017-01-21 09:31:59 by Tatarewicz
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People's Daily... A metro project evaluated at $270 million in the U.S. state of Massachusetts has been awarded to CRRC Corp., a conglomerate formed by the merger of China's top two high-speed rail makers, China North Railway (CNR) and China South Railway (CSR). A total of 134 trains will be purchased for the project, according to a Caixin report on Jan. 10. An insider disclosed that the contract was signed between CRRC and the Massachusetts Bay Transportation Authority (MBTA) in December 2016. CRRC is the only qualified provider of metro trains to meet the MBTA's requirements. As a result, the MBTA decided not to solicit additional bids, the insider said, emphasizing that the ...
'Pharma broÂ’ a whistleblower? Martin Shkreli complaint leads to $100mn FTC drug price settlement
Post Date: 2017-01-19 02:32:44 by Tatarewicz
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RT... Mallinckrodt Pharmaceutical has agreed to pay $100 million to the Federal Trade Commission (FTC) for charges that were, in part, brought on by Martin Shkreli, the “pharma bro” notorious for significantly raising the price of a life-saving drug. According to the FTC, Mallinckrodt violated antitrust laws when their Questcor division acquired the rights to Acthar, a specialty drug used to treat infantile spasms. Once they had the monopoly, the FTC says Mallinckrodt increased the price of the drug and engaged in anti-competitive behavior to keep their prices high. “Questcor took advantage of its monopoly to repeatedly raise the price of Acthar, from $40 per vial in 2001 ...
An Autopsy of the Buffalo Public Schools
Post Date: 2017-01-16 07:55:11 by Ada
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The Buffalo Public School system has been in the press lately. Sadly, little of what has been said has illuminated the most salient truths about that system. First, the ultimate fate of government school students can be predicted by who their parents are, their parents’ educational attainment and income and their home environment such as how many books are in the home. (See, Government Schools Are Bad for Your Kids, p. 85 and the citations therein.) Students who come from dysfunctional home environments tend to do poorly in school. As the author of a book called “Government Schools Are Bad for Your Kids,” I am the last person to defend the system. That said, it is ...
China to quadruple new energy vehicle production by 2020: minister
Post Date: 2017-01-16 04:56:39 by Tatarewicz
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(Global Times) China will quadruple its new energy vehicle annual output to 2 million by 2020, a cabinet minister said. Citing a government plan, Industry and Information Technology Minister Miao Wei said at a Beijing forum over the weekend that by 2025, at least one in every five cars sold in China will be a new energy model. In 2016, China produced 517,000 new energy vehicles. The country has been the world's top seller of such environment-friendly cars since 2015. The cumulative sale has exceeded 1 million, according to the ministry. New energy vehicles include battery electric cars, plug-in hybrids, and fuel-cell cars. In 2016, top Chinese electric carmakers BYD, Geely, and ...
Boots recalled after owner discovers swastika footprints
Post Date: 2017-01-14 01:50:48 by Dakmar
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A California shoe company is recalling a series of work boots that leave swastika imprints on the ground after a customer complained. Conal International Trading, the Los Angeles-area footwear company, apologized for the troubling image left by the tread of its Polar Fox boots. The company assured the public that the symbol was not intentionally incorporated into its design and blamed the misstep on its manufacturers overseas. “We were informed recently the company imported boots that has an offensive symbol designed on them. We are extremely sorry for the frustration this has caused our customers and the public. The boots have been recalled, and we have stopped selling the ...
Investors Bolt Mexico as Peso Enters Free Fall Concerns about impact of Trump’s trade policies build
Post Date: 2017-01-12 06:57:02 by HAPPY2BME-4UM
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Investors Bolt Mexico as Peso Enters Free Fall Concerns about impact of Trump’s trade policies build Global investors are fleeing Mexico’s financial markets, sending the peso to record lows on mounting concerns that Donald Trump’s trade policy could end the country’s privileged status among developing countries.The peso on Wednesday tumbled to another all-time low against the dollar as Mr. Trump pledged to change U.S. trade policy with Mexico. “Mexico has taken advantage of the United States,” he said during his press conference. “It’s not going to happen anymore.”The Mexican currency weakened 0.3%—at 21.8609 from 21.8009 late ...
Alibaba job boom: Jack Ma chats with Trump about how to create 1 million US jobs over 5 years
Post Date: 2017-01-09 16:07:49 by HAPPY2BME-4UM
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President-elect Donald Trump said he had a "great meeting" with Alibaba executive chairman Jack Ma on Monday, when they discussed 1 million new U.S. jobs.Ma said that Alibaba's expansion would focus on products like garments, wine and fruits, with a special focus on trade between the American midwest and southeast Asia."We're focused on small business," Ma told reporters. "We specifically talked about ... supporting 1 million small businesses, especially in the Midwest of America. Small businesses on the platform selling products — agriculture products and America services — to China and Asia, because we're pretty big in Asia."Where those ...
Bitcoin under Trump could triple in value, Saxo Bank predicts
Post Date: 2017-01-08 01:42:15 by Tatarewicz
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RT... The cryptocurrency bitcoin could triple in value this year thanks to US President-elect Donald Trump’s “spending binge,” according to a report from Saxo Bank which said the value of bitcoin could hit over $2,100. Read more © Jim Urquhart Bitcoin set for best week since June on strong Chinese demand The bank’s annual report “Outrageous Predictions for 2017” was published in December. It stated the expected increase in fiscal spending by Trump’s administration would cause “US growth and inflation to skyrocket, forcing the Federal Reserve to accelerate its hikes and the US dollar to hit the moon.” The dollar would be an attractive ...
Toyota Stock Gets HIT HARD After What Trump Said About Japanese Automaker
Post Date: 2017-01-07 13:37:37 by HAPPY2BME-4UM
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I’m severely torn over President-elect Trump threatening companies into bringing back plants and jobs to the US. On the one hand, I want that to happen and I can’t help but go… YES!, every time he does this. But the constitutional side of me gets the willies. I abhor protectionism and I have always embraced open market capitalism. There is no denying what Trump does and says however, gets results. Look at the stock market for instance. All he has to do is speak out against or reprimand a company and their stocks tank. Toyota found that out the hard way this week. Toyota announced in September they were building a plant in Baja, Mexico to produce cars that would be sold in ...
Can Trump Fix the Economy In 2017?
Post Date: 2017-01-07 08:42:40 by Ada
2 Comments
In the West Junk Information And Junk Judgment Prevail The Western world and that part of the world that partakes of Western explanations live in a fictional world. We see this everywhere we look—in the alleged machinations of Russia to elect Donald Trump president of the US, in claims that Saddam Hussein and his (nonexistent) weapons of mass destruction were a threat to the United States (a mushroom cloud over American cities), that Assad of Syria used chemical weapons against his own people, that Iran has a nuclear weapons program, that a few Saudi Arabians outwitted the entirety of the US, EU, and Israeli intelligence services and delivered the greatest humiliation to the ...
It’s Beginning: Economic Micro-Riots Erupt in Mexico…
Post Date: 2017-01-06 15:19:03 by HAPPY2BME-4UM
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It’s Beginning: Economic Micro-Riots Erupt in Mexico…Posted on January 6, 2017 by sundance In 2015 we predicted if Donald Trump won the 2016 election, the Southern Border and Security Wall would not only happen as a construct of following through on a promise, but also factually happen as a function of avoiding the crisis of a neighboring economy in complete collapse. What underpins that prediction is the hidden scale, and almost unquantifiable scope, of the exfiltration of U.S. dollars -legal and illegal- into Mexico. American taxpayers as voters have no idea of the scale for how much money flows out of the U.S. into Mexico. The reason no-one knows about it, and ...
Trump to Build Death Camps for Trans-gendered People of Color: Will Deport All Women
Post Date: 2017-01-06 09:53:19 by Ada
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I love it. Of all the things about Trump that our silly-ass Aunt Polly media might have considered–policy toward China, relations with Iran, reform of taxes–they seemed most agitated about…his sex life. Yes. Sure, he is a misogynist, homophobe, Islamophobe, fascist, Nazi, anti-Semite, and probably kicks his dog. Maybe a cannibal. But the truly horrid discovery was…that he thinks dirty thoughts about girls (as we all do–unless we are girls, and think dirty thoughts about boys) Shocking. Shocking. Clearly, he hates women. The famous dirty-talk tape is my favorite example of high-school outrage coupled with horrified old-maid moralism. It reveals what any sensible ...
MEXICO SLAMS TRUMP TAKING JOBS BACK!
Post Date: 2017-01-04 22:40:24 by HAPPY2BME-4UM
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MEXICO CITY (AP) -- Ford Motor Co.'s cancellation of plans to build a $1.6 billion auto manufacturing plant in San Luis Potosi has sounded alarms across Mexico. Even as the country is being rocked by rowdy nationwide protests against a Jan. 1 gasoline price hike, the Ford news led the front pages of Mexico's most influential newspapers Wednesday, and they tied the development directly to President-elect Donald Trump. "Trump leaves Mexico without 3,600 jobs," read the headline on El Universal. "Ford's braking jolts the peso," said Reforma, referring to the Mexican currency's nearly 1 percent slump following the news. "The jobs created in Mexico ...
First China-U.K. Freight Train Departs as Xi Seeks to Lift Trade
Post Date: 2017-01-04 05:18:16 by Tatarewicz
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(Bloomberg) -- China initiated a rail-freight service to Britain as part of President Xi Jinping’s efforts to strengthen trade ties with Europe. The first train departed Yiwu in eastern Zhejiang province on Jan. 1 and will cover more than 12,000 kilometers (7,500 miles) in about 18 days before reaching London, China Railway Corp. said in a statement Monday. The service, carrying garments, bags and suitcases among other items, will pass through Kazakhstan, Russia, Belarus, Poland, Germany, Belgium and France. London becomes the 15th European city with direct trains from China following the unveiling of Xi’s so-called Belt-and-Road initiative in 2013. The plan put transport links ...
Trump names trade hawk and China critic Robert Lighthizer as US trade tsar
Post Date: 2017-01-04 02:55:54 by Tatarewicz
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IBT... Trump names trade hawk and China critic Robert Lighthizer as US trade tsar A man holds a placard, which reads USTR, while protesting outside the U.S. embassy in Bangkok May 3, 2007. Several dozen protesters gathered outside the embassy, criticizing the U.S. Trade Representative (USTR) for placing Thailand on its "Priority Watch List" of countries with weak protection and enforcement of intellectual property rights. The U.S. decision comes after Thailand announced plans to override international patents on two HIV/AIDS drugs and and heart disease treatment which Thailand says is too costly for its poor. REUTERS/Adrees Latif (THAILAND) US President-elect Donald Trump has ...
Bitcoin was the best-performing currency of 2016
Post Date: 2017-01-03 07:22:35 by Tatarewicz
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ScienceAlert... The world's most high-profile digital currency, bitcoin, hit a three-year high this week, rising above US$1,000 on Monday in a strong surge that saw it stand out as the best-performing currency of 2016. Bitcoin, which shot up 125 percent in value last year alone, is now fast approaching its all-time high of $1,163 in late 2013, and stands at $1,027.53 at time of writing per price index CoinDesk. While the extreme gains – which many expect to continue – make bitcoin look like an attractive bet, some investors are wary of the currency's history of extreme volatility. In 2013, the cryptocurrency – which relies on encrypted peer-to-peer transactions ...
Stratfor’s and others forecasts for Russia in 2016: Hit or Miss
Post Date: 2016-12-30 13:52:38 by Ada
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Despite claim that Western sanctions were supposed to target just parts of Russia’s economy and not its general population, they were specifically designed to trigger the collapse of its banking system, food production, civil construction, and to trigger massive unemployment, widespread hunger and civil unrests. In essence, in 2016 Russia was supposed to have a return of the 90s catastrophe period known as “perestroika.” As for Russia’s involvement in Syria, it was supposed to become a ‘quagmire’ that would destroy what precious little military power the country had. For those who ever relied on Western analytics, it should already be clear that the think ...
China Sheds Treasury Holdings: How Big Is the Selloff?
Post Date: 2016-12-28 00:11:00 by Tatarewicz
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Bloomberg... China’s holdings of U.S. Treasuries declined to the lowest in more than six years as the world’s second-largest economy uses its currency reserves to support the yuan. Japan overtook China as America’s top foreign creditor, as its holdings edged down at a slower pace. QuickTake Abenomics A monthly Treasury Department report showed China held $1.12 trillion in U.S. government bonds, notes and bills in October, down $41.3 billion from the prior month and the lowest investment since July 2010. The portfolio of Japan decreased for third month, falling by $4.5 billion to $1.13 trillion, according to the data. Collectively, the two nations account for about 37 ...
You'll Be Outraged At How Easy It Was To Get You To Click On This Headline!!
Post Date: 2016-12-27 04:54:12 by X-15
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This article will not restore your faith in humanity. Nor will it amaze, stun, delight, shock, charm, or in any literal or figurative way, blow your mind. What it will do—hopefully in a clear and intelligent way—is explain why people continually fall for clickbait. You know, like you just did a few seconds ago. Whether you think it’s on the rise, obscurant and self-negating, not such a big deal, or the root of all evil, one thing is clear about clickbait: It’s increasingly hard to pin down. Some, like Buzzfeed’s Ben Smith, narrowly define it as an article that doesn’t deliver on its headline’s promise. Others think it means vapid listicles, quizzes, and ...
BREAKING: U.S. Steel CEO Says 10,000 Jobs To Be Brought Back… All Because Of Trump
Post Date: 2016-12-26 09:50:21 by HAPPY2BME-4UM
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BREAKING: U.S. Steel CEO Says 10,000 Jobs To Be Brought Back… All Because Of TrumpDecember 8, 2016 usapoliticsnow admin 2016 Election, Republicans U.S. Steel CEO Mario Longhi admitted that manufacturing challenges exist exclusively in the United States thanks to oppressive regulation set forth by President Obama. Longhi is willing to bring as many as 10,000 jobs back to the United States because of the prosperity predicted with the advent of the incoming Trump administration. Jobs were lost to lay offs and downsizing during the Obama administration, and many employees found work overseas. Europe and other countries have not established the same set of confining rules for ...
EXCLUSIVE: Facebook 'fact checker' who will arbitrate on 'fake news' is accused of defrauding website to pay for prostitutes - and its staff includes an escort-porn star and 'Vice Vixen domme'
Post Date: 2016-12-22 13:12:00 by Horse
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Facebook has announced plans to check for 'fake news' using a series of organizations to assess whether stories are true One of them is a website called Snopes.com which claims to be one of the web's 'essential resources' and 'painstaking, scholarly and reliable' It was founded by husband-and-wife Barbara and David Mikkelson, who used a letterhead claiming they were a non-existent society to start their research Now they are divorced - with Barbara claiming in legal documents he embezzled $98,000 of company money and spent it on 'himself and prostitutes' In a lengthy and bitter legal dispute he is claiming to be underpaid and demanding ...
Ukraine Nationalizes Largest Bank as Possible Economic Collapse Looms
Post Date: 2016-12-20 06:51:35 by Tatarewicz
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RI... The government of Ukrainian President Petro Poroshenko has suddenly announced the nationalization of Privatbank, owned primarily by oligarch Igor Kolomoisky. The bank holds nearly $6 billion in private deposits accounting for 36.5% of all private deposits in Ukraine. From CNBC: Ukraine took over its largest bank on Monday in a move backed by Kiev's international donors to protect the country's financial system and accompanied by an appeal for calm and assurances to depositors from President Petro Poroshenko. In one of the biggest shake-ups of the war-torn country's banking system since Ukraine plunged into economic and political turmoil more than two years ago, the ...
Can Donald Trump Prevent the Economy from Falling Into a Black Hole?
Post Date: 2016-12-15 13:51:55 by X-15
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Interest rates will eventually rise without an even more devastating policy of financial repression. When they do, rising interest costs will produce a vicious cycle of ever more borrowing. We are already approaching the “event horizon” of spinning into this black hole of an inflationary spiral and economic collapse from which few countries historically have escaped. A substantially higher rate of growth is the only way to break free. National economic growth is typically measured by the growth of GDP, and citizen well being by the growth of per-capita GDP. The long run trend of GDP growth reflects labor force participation, hours worked and productivity as well as the rate of ...
Fugitive in biggest financial hack ever arrested upon return to US from Moscow
Post Date: 2016-12-15 04:37:36 by Tatarewicz
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RI... The FBI has arrested one of its most wanted cybercrime suspects, an American who fled to Russia. Under what conditions Joshua Aaron suddenly returned to the US is unclear, but he will face 2015 charges related to the largest financial hack in US history. Read more © Mal Langsdon ‘Brave new world’ of hacking: Feds charge 3 men for stealing data from 100 million Aaron, 32, will be in a Manhattan federal district court Thursday morning, according to a Wednesday announcement from the US Attorney’s Office in the Southern District of New York. He is one of nine co-defendants in a case involving over 100 million hacked accounts from dozens of companies, including more ...
Dallas Police and Fire Pension Board ends run on the bank, stops $154M in withdrawals
Post Date: 2016-12-09 03:38:25 by noone222
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The Dallas Police and Fire Pension System's Board of Trustees suspended lump-sum withdrawals from the pension fund Thursday, staving off a possible restraining order and stopping $154 million in withdrawal requests. The system was set to pay out the weekly requests Friday. Pension officials said allowing the withdrawals would leave them without the liquid reserves required to sustain the $2.1 billion fund. "Our situation is currently critical, and we took action," board chairman Sam Friar said. Pension officials and many police and firefighters have blamed Dallas Mayor Mike Rawlings for forcing the latest run on the bank. Dozens of retirees rushed to request withdrawals ...
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