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Frontrunning: June 15
- Tsipras Hardens Greek Stance After Collapse of Talks (BBG)
- Obama Fights to Save Trade Bill (WSJ)
- German Stock Market Pain Seen Just Beginning Should Greece Exit (BBG)
- Russia to boost forces in western flank if U.S. stations arms in east Europe (Reuters)
- Lab Nears Settlement Over Pricey Medicare Drug Tests (WSJ)
- China's $358 Billion in Margin Loans Points to Next Bear Market (BBG)
- Draghi Faces EU Court Ruling on 2012 Bond Plan as Greece Teeters (BBG)
- Sex, lies and debt potentially exposed by U.S. data hack (Reuters)
- SNP threatens to call another independence referendum (FT)
- Libya says 'uncatchable' veteran militant killed in U.S. strike (Reuters)
- Billion-dollar tech start-ups on the increase in Europe (FT)
- With CEO shakeup, Twitter under pressure to please advertisers (Reuters)
- Tale of Two Job Markets Makes Fed’s Liftoff Timing a Tough Call (BBG)
- Prince Alwaleed calls for new Twitter chief executive (FT)
- Oil falls on dollar, Libya output, Yemen talks (Reuters)
- North Korean soldier walks across DMZ in bid to defect to South (Reuters)
- Saks Owner Plots Europe Push After $3.2 Billion Kaufhof Buy (BBG)
Overnight Media Digest
WSJ
* Standard Pacific Corp and Ryland Group Inc will merge in a $5.2 billion deal to create the fourth-largest U.S. home builder, possibly kicking off a wave of consolidation among U.S. builders as the industry's recovery remains stubbornly slow. (http://on.wsj.com/1G6rcii)
* The largest drug-testing laboratory in United States, Millennium Health LLC, is negotiating a major settlement over allegations it billed the federal government for unnecessary Medicare tests.(http://on.wsj.com/1G6sgTb)
* Gun maker Colt Defense LLC said late Sunday it is filing for chapter 11 bankruptcy-court protection, amid business-execution issues and a heavy debt burden. (http://on.wsj.com/1G6uPEH)
* Hollywood was expecting a hit, but the "Jurassic World" gross in North America exceeded estimates, bringing in a robust $204.6 million, and continued a sterling summer for Comcast Corp's Universal Pictures. (http://on.wsj.com/1G6wgTK)
* General Motors Co is poised to re-enter the growing and potentially lucrative U.S. market by teaming up with Japan's Isuzu Motors Ltd to procure work trucks to be sold in the U.S. under the Chevrolet brand. (http://on.wsj.com/1G6wtWU)
FT
Scottish National Party's Treasury spokesman Stewart Hosie, in an interview to the Financial Times, warned that if London did not devolve more powers to Edinburgh, the United Kingdom may be set for a breakup ballot again within a few years.
In a report to be issued by a government appointed committee on Monday, it will come to light that some of the most elite financial institutions and legal firms deploy a "poshness test" to lock up talent out of high-flying jobs.
A study by International Energy Agency shows that renewable energy such as wind, solar etc. could replace coal as the top source of electricity in the next 15 years.
According to data compiled by GP Bullhound, the British investment bank, Europe has produced 13 "unicorns", or tech startups that have reached a valuation of $1 billion or more, over the past year.
NYT
* Just weeks before a crucial debt payment comes due, weekend talks between Greece and its European creditors broke down as both sides refused to soften their long-held bargaining positions. (http://nyti.ms/1G6CGC8)
* Supported by income from Social Security, pensions and investments, as well as an increasing number of paychecks from delaying retirement, older people not only weathered the economic downturn that began in 2007 but made significant gains, a New York Times analysis of government data has found. (http://nyti.ms/1G6Dpn7)
* As the sportswear maker Under Armour finds itself in business with two of the hottest athletes in the country, Jordan Spieth and Stephen Curry, it is still figuring out how best to capitalize on those relationships. (http://nyti.ms/1G6LLed)
* Rent regulations that limit how much landlords can charge for many apartments in New York City and a number of surrounding communities were set to expire on Monday and lawmakers did not appear close to a deal to extend or modify them. (http://nyti.ms/1G6MlZs)
China
SHANGHAI SECURITIES NEWS
- State Grid Corp of China said it would invest 21.7 billion yuan ($3.50 billion) to build three pumped-storage hydroelectric stations in the provinces of Anhui, Shandong and Henan.
SHANGHAI DAILY
- A bumper harvest is expected this summer in China's central province of Henan, the top wheat producer, but autumn yields may not fare well due to uncertain conditions brought about by El Nino, an official in the province's agriculture department said.
CHINA DAILY
- Efforts are needed to put the power held by officials inside a 'cage of systems' and avoid the concentration of excessive power in individuals or certain departments, which makes it difficult to prevent them from being intoxicated with the unrestrained use of power, an editorial said.
GLOBAL TIMES
- Judging from the agenda and outcomes of this year's G7 summit, it has run counter to the global trend of peace, development and cooperation and become more of a geopolitical tool, targeting China and Russia, an opinion piece said.
Britain
The Times
London's biggest fund managers have begun drawing up plans to move trillions of pounds of assets and thousands of highly paid jobs should Britain leave the European Union. (http://thetim.es/1IdIF9P)
Priory Group, which owns a chain of clinics best known for treating pop stars such as Robbie Williams and Amy Winehouse, has held talks with advisors about floating itself in London, but will first sell a care-homes business, Amore Care. (http://thetim.es/1IdIQC5)
The Guardian
Last-ditch talks aimed at breaking the impasse between Athens and its international creditors have collapsed in acrimony with European Union officials dismissing Greece's latest reform package as incomplete in a step that pushes the country closer to leaving the eurozone. (http://bit.ly/1IdIY4w)
The amount of money paid to informants by HMRC in its attempts to crack down on tax evasion has leapt by more than 50 pct in a year to a record high of 605,000 pounds ($941,198.50). (http://bit.ly/1IdJ242)
The Telegraph
David Cameron is facing resistance in the House of Commons just five weeks after the general election with as many as 50 Conservative MPs set to try to force changes to the rules of the European Union referendum. (http://bit.ly/1IdJBel)
Barts NHS trust is paying 47,000 pounds a month for temporary finance chief Ian Miller, despite a government order to halt the "excessive and indefensible" rates paid on short-term contracts, an investigation by The Daily Telegraph has found. (http://bit.ly/1IdJMGn)
Sky News
Donald Brydon, a former chairman of the London Metal Exchange, is being lined up to take on the same role at its more famous cousin, the London Stock Exchange, Sky News has learnt. (http://bit.ly/1BbUtMW)
Justice Secretary Michael Gove is facing accusations of undermining the impartiality of Whitehall by appointing a wealthy Conservative donor and a close personal ally to his department's board. (http://bit.ly/1IdJTSs)
The Independent
Burma's worst nightmare came a step closer to reality when a spokesman for the Pakistani Taliban's most hardline faction called on the oppressed Rohingya to "take up the sword and kill in the path of God." (http://ind.pn/1IdKfIM)
It has been reported that a Russian military aircraft flew within 150 metres of a group of NATO warships in the Baltic Sea last week. The British, French and German ships' close call with the plane was reportedly caught on video, although the footage has not yet been released. (http://ind.pn/1IdKnrR)
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President Harry S Truman devolved all political issues down to a game of poker. In those terms I would argue the Fed will simply "hold" given the current cards on the table.
I have nothing but the greatest respect and trepidation for the folks who have to figure how to deal with the Ghordian Knot of security issues now present in what seems to me a total catastrophe vis a vis what is no longer a "war inn terror" anymore but in fact a REAL war now...pretty much again everyone would appear now.
Sorry but I can't think of a single good answer in this total and abject catastrophe.
I have no respect for those who got us into this mess either...how there has not been an insurrection in response really is a tremendous tribute to the men ans women who continue to serve in these "Endless Wars."
Obviously the American people have not only had enough but are in fact rioting.
How this is good going forward is beyond me.
"A study by International Energy Agency shows that renewable energy such as wind, solar etc. could replace coal as the top source of electricity in the next 15 years."
It's good that there are still dreamers in the world.
News TAP, TTIP, TISA, TAA, TPA
-
- GOP Leadership’s Latest Obamatrade Ploy Revealed: Small Business Tax Hike That Violates GOP’s Anti-Tax Pledge
- 'Gonna pass'...
http://www.breitbart.com/big-government/2015/06/14/gop-leaderships-lates...
"To secure final passage through Congress of a package that would include TPA fast-track authority—which would ensure finalization of the secretive Trans Pacific Partnership (TPP), Transatlantic Trade and Investment Partnership (T-TIP) and Trade in Services Agreement (TiSA), among other deals—the House would need to pass the Trade Adjustment Assistance (TAA) package that was necessary for Senate passage of TPA. The House voted TAA down 302-126 with widespread bipartisan opposition to last week, but House Ways and Means Committee chairman Rep. Paul Ryan (R-WI)
58% and his allies in House GOP leadership have pledged that they will try to pass it again early next week. The vote would potentially be on Monday, but more likely on Tuesday—and if there is no vote by Tuesday, it’s unlikely that Ryan will be able to succeed in his ploy to revive TPA."
"“A vote for Obamatrade on Tuesday is a vote to give the IRS more power and more incentives to go after small businesses,” said Curtis Ellis, founder of the Obamatrade.com website, in an exclusive interview with Breitbart News."
"“It’s pretty outrageous what is called for in this bill that Congress is going to vote on Tuesday – it literally doubles and triples the taxes on small businesses,” explained Ellis."
"“Small businesses that are already over-burdened with IRS paperwork will be penalized even further if they make a technical mistake on filing informational paperwork,” he said. “There’s a lot of dishonesty going on when the bill is described as raising the fines on tax violations. That’s dishonest because the fines aren’t for people who failed to pay their taxes, the fines are on businesses that for no fault of their own, they forget to fie a piece of paperwork telling the IRS how much someone else owes on their taxes.”
"Essentially, as explained by Ellis, any time a small business paid an independent contractor or freelancer a commission or any tips, it must be reported to the IRS with a 1099 form, which a copy is also sent to the contractor or freelancer. If the small business is late in filing this form, then it is fined by the IRS. The proposal Tuesday, as it stands, would double and triple these fines."
- Paying for Obama Care through fines/Taxes?
- Simplify, Streamline, Standardize, these are the principals of a clear thinking Government, these should be implemented in Income tax Rules or any kind of Tax, any kind of Regulation, Financial Instruments, Banking,
- a 12 year old should be able to understand the rules & structure of government & banking, because informed Citizenry are crucial to building a Fair and Free Nation as well as protect free press, free speech, privacy, individual rights, and transparent government & business & Economy & Trade