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Frontrunning: June 17
- And the truth keeps coming out: Evacuation urged for radioactive hot spots in Japan beyond 20km zone (Japan Times)
- Germany's Merkel: Europe and Euro Tightly Bound Together (WSJ)
- Hardline IMF forced Germany to guarantee Greek bailout (Guardian)
- Hunt for ‘Holy Grail’ Hunt Pits ECB Against Naked Banks (Bloomberg)
- Default by Greece ‘Almost Certain’: Greenspan (Bloomberg)
- SEC could file Civil Fraud charges against some Raters (Reuters)
- Merkel’s Greek Bondholder Gambit Tested as Sarkozy Visits Berlin (Bloomberg)
- Biggest banks face capital clampdown (FT)
- Too Big to Fail Ends With Wave of a Magic Wand (Bloomberg)
- Biden Talks Aimed at $4 Trillion in Cuts Over 10 Years (WSJ)
- California's Brown vetoes fellow Democrats' budget (Reuters)
- U.S. Confidence Out of Sync With Stock Gains (Bloomberg)
- High-frequency trade sparks flash fires in commodities (Reuters)
- Assad’s cousin to give up business activities (FT)
- Prada raises HK$16.7bn in Hong Kong listing (FT)
- Baum: Soft Patch 2, Not QE2, Is Main Influence on Rates (Bloomberg)
Global highlights courtesy of Egan-Jones
- Bank of Korea may need to slow rate rises, Board member says.
- Basel said to weigh 3.5 percentage point fee to curb bank growth.
- China central bank finds officials stole $123.7B of public money over 15 years.
- Consumer expectations in US drop to lowest level in two years.
- Euro poised for second weekly loss before EU leaders meet on Greece debt.
- Greenspan says Greece default 'almost certain,’ may trigger US recession.
- IEA warns of sweet crude shortage without Libya.
- IMF says 'We stand ready to continue our support for Greece'.
- Philadelphia Fed Manufacturing Index falls to -7.7 in June from 3.9 in May.
- Actuant Corp Q3 profit up 67% to $36.4M on 27% higher sales, raises 2012 EPS view.
- Borders Group extends leases on 11 stores, still negotiating to keep 40 more open.
- CapitalOne purchases ING's US bank for $9B cash and stock.
- Central Garden approves $100M share repurchase program.
- Energy Transfer Equity LP to acquire Southern Union Co. for about $4.2B.
- India's Tata Steel to sell its 26.27% stake in Riversdale Mining to Rio Tinto for $1.12B.
- ING to sell US online bank to Capital One for $9B in stock and cash.
- Kroger Co.'s Q1 net rises 16% to $432.3M. Revs up 11% at $27.5B.
- MBIA hid potential losses of up to $950M from regulator, banks say.
- McKesson Corp. backs fiscal 2012 EPS f'cast between $5.55 and $5.75.
- Oracle seeks billions of dollars in damages from Google over alleged patent infringements.
- Prada said to price shares at $HK39.50 each in Hong Kong IPO.
- RIM to cut jobs as f'cast misses estimates on sales slump. Sees qtrly revenue dropping for the first time in nine years.
- Smithfield Foods: Co. has hedged 50% of its feed-grain costs for the year at prices well below the current market.
- Steel Dynamics guides Q2 EPS at $0.35-0.40 vs. $0.56 consensus estimate.
- Winnebago profit falls 80% to $1.2M on lower margins. Revs flat at $135.6M.
Economic Calendar: Data on Mich Sentiment, Leading Indicators to be released today.
Earnings Calendar: AIM, CAVO, CCG, FTLK, LPHI, TIK.
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Weekly News Update -This Week Anonymous hackers, Chinese Protest, Arab update, Tiannamen dedication.
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http://www.youtube.com/user/zedgehero
And despite all efforts to thwart it, blood shoots out of Cdad's eyes.
Obviously, all of these problems would be fixed if we just had MORE bankers receiving LARGER bonuses.
Wow, expanding the evacuation area in Japan.
Well-played, Moonbeam.
Ancient Athenian Constitution
Article 2
"There was contention for a long time between the upper classes and the populace. Not only was the constitution at this time oligarchical in every respect, but the poorer classes, men, women, and children, were the serfs of the rich. They were known as Pelatae and also as Hectemori, because they cultivated the lands of the rich at the rent thus indicated. The whole country was in the hands of a few persons, and if the tenants failed to pay their rent they were liable to be haled into slavery, and their children with them. All loans secured upon the debtor's person, a custom which prevailed until the time of Solon, who was the first to appear as the champion of the people. But the hardest and bitterest part of the constitution in the eyes of the masses was their state of serfdom. Not but what they were also discontented with every other feature of their lot; for, to speak generally, they had no part nor share in anything."
http://avalon.law.yale.edu/ancient/athe1.asp
So it's better to PAY or provide for the poor without demanding SOMETHING from them?
I don't get it...why should someone be permitted to live "for free"? If YOU don't self determine how you will provide for yourself...why shouldn't someone else? If you don't voluntarily work...someone else will decide what you will do. It seems fairer than giving them free welfare and getting nothing in return.
This is why we love the NY Post
Weiner finally yanks himself
http://www.nypost.com/p/news/local/brooklyn/weiner_finally_yanks_himself_8c0axmksurP1oswOSxAijJNow, if only he'd been doing that the whole time, he wouldn't have had any problems.
Apple has patent that will restrict what you record with your iphone camera. They know what's best so just sit down and STFU.
Apple may soon stop you from recording live events using iPhones!calling Reggie.....
http://economictimes.indiatimes.com/tech/hardware/apple-may-soon-stop-yo...
say laterz to facebook
http://blogs.forbes.com/timworstall/2011/06/15/the-end-of-facebook/
Move the disaffected Japanese to Detroit.
This will be telling. Praying for a good outcome. This is the nearest, biggest city to the disaster site, with a quarter million souls.
From NHK:
Fukushima City expands radiation checks
Fukushima City has begun monitoring radiation levels at more than 1,000 additional sites to respond to its residents' concerns about possible contamination after the disaster at the Fukushima Daiichi nuclear plant.
The capital of Fukushima Prefecture is about 50 kilometers northwest of the crippled plant.
The city has been monitoring radiation levels at around 160 places, including parks and schools, and released the results on its website.
On Friday, 1,045 locations, including roads in residential areas, were added to the check list, to respond to residents' demands for more information about radiation levels.
At a road near a park, 2 officials checked radiation levels one centimeter, 50 centimeters and one meter above the ground.
They said the levels were below the official limits.
A housewife who lives near the park said the city should have checked earlier, but she is grateful for the detailed information.
The head of the city's environment division said he hopes the intensified monitoring will help to ease residents' concerns.
Fukushima City will check radiation levels again on Monday and will release the results next Thursday.
Friday, June 17, 2011 16:49 +0900 (JST)
The Reuters HFT link is down. Never seen this before on Reuters that I can remember. Can you repost the story?