Showing posts with label stock. Show all posts
Showing posts with label stock. Show all posts

Thursday, April 3, 2014

Canadian discovers how US Stock Market is completely "rigged" finds market solution is attacked by CNBC, Fox Business

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Canadian discovers how US Stock Market is completely "rigged" finds market solution is attacked by CNBC, Fox Business

Tuesday, April 1, 2014

Michael Lewis: ‘United States stock market is rigged’

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Michael Lewis: ‘United States stock market is rigged’

Tuesday, March 25, 2014

Kim Dotcom’s Mega to get listing at New Zealand stock exchange

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Kim Dotcom’s Mega to get listing at New Zealand stock exchange

Monday, February 3, 2014

VIDEO: Asian Markets in Second Week of Declines







Asian markets enter a second week of volatility, this time on news that U.S. manufacturing slowed in January. The WSJ’s Jake Lee tells us why things may not settle down anytime soon.













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VIDEO: Asian Markets in Second Week of Declines

Monday, January 27, 2014

Decline in US stock market moderates








Trader John Santiago works on the floor of the New York Stock Exchange Monday, Jan. 27, 2014. Stocks are mostly higher on Wall Street as investors shrug off worries about emerging markets that tanked the market last week. (AP Photo/Richard Drew)





Trader John Santiago works on the floor of the New York Stock Exchange Monday, Jan. 27, 2014. Stocks are mostly higher on Wall Street as investors shrug off worries about emerging markets that tanked the market last week. (AP Photo/Richard Drew)





Specialist Jason Hardzewicz works on the floor of the New York Stock Exchange Friday, Jan. 24, 2014. (AP Photo/Jason DeCrow)













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(AP) — Shaky economies and currencies in emerging markets are fueling a global sell-off in stocks.


Fearful investors on Monday pushed prices lower across Asia and Europe, though the drops weren’t as steep as last week. In the U.S. and in other rich countries, where economies are healthier, investors are also in retreat, but the selling is not as fierce.


Solid corporate earnings are offsetting fears of a slowing Chinese economy and the ripple effects of reduced stimulus from the Federal Reserve. The Dow Jones industrial average, for example, has fallen 5 percent over the past three days, less than the 8.4 percent drop in Argentina’s Merval index.


KEEPING SCORE: The Dow rose 48 points, or 0.3 percent, at 15,928, lifted by a big jump in Caterpillar’s fourth-quarter earnings. The Standard & Poor’s 500 index rose two points, or 0.1 percent, to 1,792.


After surging in 2013, both indexes had their worst losses last week since 2012. That has stoked fear that they could be heading for a correction, or a fall of 10 percent or more from a peak. U.S. stocks have not had a correction since October 2011.


The Nasdaq composite on Monday was down 16 points, or 0.4 percent, to 4,111.


OVERSEAS ANGST: Most major European stock markets were lower. Germany’s DAX fell 0.5 percent and France’s CAC-40 declined 0.4 percent. Spain’s benchmark index fell 1 percent. In Asia, the Hang Seng in Hong Kong and the Nikkei in Tokyo each fell more than 2 percent.


Stocks in emerging markets fell, again. The widely followed MSCI Emerging Markets ETF was down 0.7 percent. It has fallen 10 percent so far in 2014 after a nearly 6 percent loss last year.


THE BACKGROUND: The turbulence in emerging markets has been driven partly by signs of an economic slowdown in China, which is a major importer of commodities from other developing countries. But problems elsewhere are playing a role, too.


In Argentina, where inflation is running as high as 30 percent, the peso has collapsed and the government is running short of U.S. dollar reserves it could use to buy its currency and prop it up. In South Africa, a strike by tens of thousands of platinum miners is raising the specter of violence in the streets. And in Turkey, a corruption scandal has destabilized the government and scared investors into selling the currency, the lira.


HOPEFUL SIGNS: Investors were encouraged by a recovery in Turkey’s battered currency Monday. The lira hit a record low of 2.39 per dollar early in the day before recovering to 2.29 per dollar after the country’s central bank said it would hold an emergency policy meeting on Tuesday.


Other emerging market currencies continued to weaken against the dollar. The South African rand fell another 0.6 percent to 11.16 per dollar, and Russia’s ruble fell 0.6 percent to 34.72 per dollar.


In Argentina, the government eased currency controls, announcing Argentines can buy up $ 2,000 per month. The Argentine peso has fallen the most against the dollar in 12 years.


EARNINGS SURPRISES: Caterpillar was the biggest gainer in the Dow, rising $ 4.83, or nearly 6 percent, to $ 91 after the earth-moving equipment maker reported fourth-quarter net income that easily beat analyst estimates. Several companies report results after the market closes Monday, including Apple, Zions Bancorp and Seagate Technology.


THE QUOTE: “Earnings numbers are coming in good, but sales are weak and macroeconomic numbers are lower than expected — new home sales, payroll, industrial production,” said Steven Ricchiuto, chief economist at Mizuho Securities. “We’re overdue for a correction.”


REDUCED FED BOOST: The Fed scaled back its stimulus for the U.S. economy last month as signs of growing economic strength emerged. It reduced its monthly bond purchases to $ 75 billion from $ 85 billion. The dialing back of easy-money policies has hit some emerging markets hard. When the Fed was pushing U.S. rates lower, emerging markets saw capital flowing in from investors hunting for bigger returns than they could get in the United States. Now investment is flowing back to America, and hammering currencies in emerging markets. The Fed meets again Tuesday and Wednesday, and many economists expect the central bank to cut its stimulus further.


AVOIDING RISK: Small-company stocks fell more than the rest of the market, a signal that investors were dumping assets seen as risky. The Russell 2000 index gave up 13 points, or 1 percent, to 1,131. Power and phone companies rose. Investors buy these “defensive” stocks when they want to play it safe and collect a rich dividend.


___


AP Economics Writer Paul Wiseman contributed to this report from Washington.


Associated Press




Top Headlines



Decline in US stock market moderates

Tuesday, January 21, 2014

BofAML: Buy Any Dip In Treasuries; Stock Bulls "Watch-Out"

BofAML: Buy Any Dip In Treasuries; Stock Bulls "Watch-Out"
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“Treasuries have turned medium term bullish,” writes Macneil Curry in his latest reports, advising traders to “get ready to buy a dip,” in bonds. At a minimum, he notes, BofAML expects yields to test the 2.691% area, but the most likely outcome is for a push to the multi-month range lows between 2.544% and 2.459%. Curry adds that he expected 5s30s to flatten to around 201bps and while they remain equity bulls he warns, “watchout” as seasonals turn much less constructive once February rolls around and the ratio of 3m-to-1m implied volatility is fast approaching the 1.20 level that traditionally coincides with complacency and market corrections.


 


Via BofAML’s Macneil Curry:


Buy a dip in US Treasuries, the m/term trend is BULLISH



The Friday push to 2.816% in US 10yr Treasury yields completed an impulsive (5 wave) decline from the 3.049% high of Jan-02 and confirms a bullish medium term turn in trend. At a minimum, we expect yields to test the 2.691% area, but the most likely outcome is for a push to the multi-month range lows between 2.544%/2.459%. We could even see a test of the 2.420%/2.399% pivot zone before renewed basing and a resumption of the LONG TERM BEAR TREND to 3.45%/3.50%. Having said that, we cannot recommend longs HERE. After an impulsive decline a market will correct higher before the downtrend resumes. Wait for a pullback into the 2.905%/2.960% before entering into longs. PATIENCE WILL BE REWARDED.



Throughout this move the curve should maintain its strong positive correlation with yields (inverse correlation with price). Looking specifically at 5s30s, we look for a base into 205.2bps/201.0bps from which a counter trend steeping bounce is likely into 225.0bps/230.9bps.
 
Finally, we remain equity market bulls.


The ESH4 intra-day consolidation below 1846.50 is best described as a bullish continuation pattern, with a break of 1846.50 clearing the way for 1865/1876. However, seasonality and the slope of the volatility curve say that once these targets are reached, WATCHOUT.



Seasonals turn much less constructive once February rolls around and the ratio of 3m-to-1m implied volatility is fast approaching the 1.20 level that traditionally coincides with complacency and market corrections






    








Zero Hedge




Read more about BofAML: Buy Any Dip In Treasuries; Stock Bulls "Watch-Out" and other interesting subjects concerning Economy at TheDailyNewsReport.com

Tuesday, January 14, 2014

Thai protesters target ministries, threaten stock exchange





BANGKOK (Reuters) – Protesters trying to topple Thailand‘s government tightened a blockade around ministries on Tuesday and their leader warned the prime minister that she could be targeted next, as some saw more than two months of turmoil inching towards an endgame.


Major intersections in the capital, Bangkok, were blocked for a second day, and a hardline faction of the agitators threatened to storm the stock exchange.


Protest leaders say demonstrators will occupy the city’s main arteries until an unelected “people’s council” replaces Prime Minister Yingluck Shinawatra’s administration, which they accuse of corruption and nepotism.


The unrest is the latest chapter in an eight-year conflict pitting the Bangkok-based middle class and royalist establishment against the mostly poorer, rural supporters of Yingluck and her brother, Thaksin Shinawatra, a former premier ousted by the military in 2006.


Although the capital was calm and the mood among the tens of thousands of protesters remained festive, analysts said the scope for a peaceful resolution of the crisis ahead of elections called for February 2 was narrowing.


“There is no clear way out,” the International Crisis Group (ICG) think-tank said in a report. “As anti-government protesters intensify actions, the risk of violence across wide swathes of the country is growing and significant.”


Plans to paralyze the government


Ministries and the central bank have been forced to operate from back-up offices after protesters led by Suthep Thaugsuban stopped civil servants getting to work.


“In the next two or three days we must close every government office,” Suthep told a crowd of supporters. “If we cannot, we will restrict the movements of the prime minister and other ministers. We will start by cutting water and electricity to their homes. I suggest they evacuate their children.”


Groups of demonstrators marched peacefully from their seven big protest camps to ministries, the customs office, the planning agency and other state bodies on Tuesday, aiming to paralyze the workings of government.


A student group allied to Suthep’s People’s Democratic Reform Committee (PDRC) threatened to attack the stock exchange, with faction leader Nitithorn Lamlua telling supporters on Monday it represented “a wicked capitalist system that provided the path for Thaksin to become a billionaire.”


A PDRC spokesman said the bourse was not a target.


“We will not lay siege to places that provide services for the general public, including airports, the stock exchange and trains. However, we will block government offices to stop them from functioning,” Akanat Promphan told supporters at a rally.


Jarumporn Chotikasathien, president of the Stock Exchange of Thailand, said emergency measures had been prepared to secure the premises and trading systems. Trading was normal with the index up nearly 1.0 percent at the close.


Protesters want “people’s council,” not elections


Yingluck invited protest leaders and political parties to a meeting on Wednesday morning to discuss an Election Commission proposal to postpone the election until May.


But that proposal looked doomed, with protest leaders and opposition party members boycotting the meeting scheduled to be held at the air force’s headquarters in the north of the city.


Suthep says he is not interested in any election. He wants a “people’s council” to take power and eradicate the political influence of Thaksin and his family by altering electoral arrangements in ways he has not spelt out.


“A deal to postpone the election could buy time for negotiation but would be only a stopgap without a comprehensive, broadly accepted agreement on the future political order,” the ICG said. “Thailand is deeply polarized and the prospects for such an agreement are dim.”


It is widely thought that, if the agitation grinds on, the judiciary or the military may step in. The military has staged or attempted 18 coups in 81 years of on-off democracy, although it has tried to stay neutral this time and army chief Prayuth Chan-ocha has publicly refused to take sides.


In 2010, the army put down a pro-Thaksin movement that closed down parts of central Bangkok for weeks. More than 90 people, mostly Thaksin supporters, died during those events.


(Additional reporting by Pairat Temphairojana and Panarat Thepgumpanat; Writing by Alan Raybould and John Chalmers; Editing by Nick Macfie and Robert Birsel)


http://www.globalpost.com/dispatch/news/regions/asia-pacific/thailand/140114/thai-protesters-target-ministries-threaten-stock-




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Thai protesters target ministries, threaten stock exchange

Thursday, January 2, 2014

Soaring Caracas Stock Exchange Undergoes 1000 For 1 "Stock Split"

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Soaring Caracas Stock Exchange Undergoes 1000 For 1 "Stock Split"

Thursday, December 26, 2013

The Stock Market Has Officially Entered Crazytown Territory


Looney Tunes - Photo by Ramon F VelasquezIt is time to crank up the Looney Tunes theme song because Wall Street has officially entered crazytown territory.  Stocks just keep going higher and higher, and at this point what is happening in the stock market does not bear any resemblance to what is going on in the overall economy whatsoever.  So how long can this irrational state of affairs possibly continue?  Stocks seem to go up no matter what happens.  If there is good news, stocks go up.  If there is bad news, stocks go up.  If there is no news, stocks go up.  On Thursday, the day after Christmas, the Dow was up another 122 points to another new all-time record high.  In fact, the Dow has had an astonishing 50 record high closes this year.  This reminds me of the kind of euphoria that we witnessed during the peak of the housing bubble.  At the time, housing prices just kept going higher and higher and everyone rushed to buy before they were “priced out of the market”.  But we all know how that ended, and this stock market bubble is headed for a similar ending.


It is almost as if Wall Street has not learned any lessons from the last two major stock market crashes at all.  Just look at Twitter.  At the current price, Twitter is supposedly worth 40.7 BILLION dollars.  But Twitter is not profitable.  It is a seven-year-old company that has never made a single dollar of profit.


Not one single dollar.


In fact, Twitter actually lost 64.6 million dollars last quarter alone.  And Twitter is expected to continue losing money for all of 2015 as well.


But Twitter stock is up 82 percent over the last 30 days, and nobody can really give a rational reason for why this is happening.


Overall, the Dow is up more than 25 percent so far this year.  Unless something really weird happens over the next few days, it will be the best year for the Dow since 1996.


It has been a wonderful run for Wall Street.  Unfortunately, there are a whole host of signs that we have entered very dangerous territory.


The medianprice-to-earnings ratio on the S&P 500 has reached an all-time record high, and margin debt at the New York Stock Exchange has reached a level that we have never seen before.  In other words, stocks are massively overpriced and people have been borrowing huge amounts of money to buy stocks.  These are behaviors that we also saw just before the last two stock market bubbles burst.


And of course the most troubling sign is that even as the stock market soars to unprecedented heights, the state of the overall U.S. economy is actually getting worse…


-During the last full week before Christmas, U.S. store visits were 21 percent lower than a year earlier and retail sales were 3.1 percent lower than a year earlier.


-The number of mortgage applications just hit a new 13 year low.


-The yield on 10 year U.S. Treasuries just hit 3 percent.


For many more signs like this, please see my previous article entitled “37 Reasons Why ‘The Economic Recovery Of 2013′ Is A Giant Lie“.


And most Americans don’t realize this, but the U.S. financial system and the overall U.S. economy are now in much weaker condition than they were the last time we had a major financial crash back in 2008.  Employment is at a much lower level than it was back then and our banking system is much more vulnerable than it was back then.  Just before the last financial crash, the U.S. national debt was sitting at about 10 trillion dollars, but today it has risen to more than 17.2 trillion dollars.  The following excerpt from a recent article posted on thedailycrux.com contains even more facts and figures which show how our “balance sheet numbers” continue to get even worse…


Since the fourth quarter of 2009, the U.S. current account deficit has been more than $ 100 billion per quarter. As a result, foreigners now own $ 4.2 trillion more U.S. investment assets than we own abroad. That’s $ 1.7 trillion more than when Buffett first warned about this huge problem in 2003. Said another way, the problem is 68% bigger now.


And here’s a number no one else will tell you – not even Buffett. Foreigners now own $ 25 trillion in U.S. assets. And yet… we continue to consume far more than we produce, and we borrow massively to finance our deficits.


Since 2007, the total government debt in the U.S. (federal, state, and local) has doubled from around $ 10 trillion to $ 20 trillion.


Meanwhile, the size of Fannie and Freddie’s mortgage book declined slightly since 2007, falling from $ 4.9 trillion to $ 4.6 trillion. That’s some good news, right?


Nope. The excesses just moved to a new agency. The “other” federal mortgage bank, the Federal Housing Administration, now is originating 20% of all mortgages in the U.S., up from less than 5% in 2007.


Student debt, also spurred on by government guarantees, has also boomed, doubling since 2007 to more than $ 1 trillion. Altogether, total debt in our economy has grown from around $ 50 trillion to more than $ 60 trillion since 2007.



So don’t be fooled by this irrational stock market bubble.


Just because a bunch of half-crazed investors are going into massive amounts of debt in a desperate attempt to make a quick buck does not mean that the overall economy is in good shape.


In fact, much of the country is in such rough shape that “reverse shopping” has become a huge trend.  Even big corporations such as McDonald’s are urging their employees to return their Christmas gifts in order to bring in some much needed money…


In a stark reminder of how tough things still are for low-income families in America, McDonalds has advised workers to dig themselves “out of holiday debt” by cashing in their Christmas haul.


“You may want to consider returning some of your unopened purchases that may not seem as appealing as they did,” said a website set up for employees.


“Selling some of your unwanted possessions on eBay or Craigslist could bring in some quick cash.”



This irrational stock market bubble is not going to last for too much longer.  And a lot of top financial experts are now warning their clients to prepare for the worst.  For example, David John Marotta of Marotta Wealth Management recently told his clients that they should all have a that contains food, a gun and some ammunition…


A top financial advisor, worried that Obamacare, the NSA spying scandal and spiraling national debt is increasing the chances for a fiscal and social disaster, is recommending that Americans prepare a “bug-out bag” that includes food, a gun and ammo to help them stay alive.


David John Marotta, a Wall Street expert and financial advisor and Forbes contributor, said in a note to investors, “Firearms are the last item on the list, but they are on the list. There are some terrible people in this world. And you are safer when your trusted neighbors have firearms.”


His memo is part of a series addressing the potential for a “financial apocalypse.” His view, however, is that the problems plaguing the country won’t result in armageddon. “There is the possibility of a precipitous decline, although a long and drawn out malaise is much more likely,” said the Charlottesville, Va.-based president of Marotta Wealth Management.



So what do you think is coming in 2014?


Please feel free to share your thoughts by posting a comment below…



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The Economic Collapse



The Stock Market Has Officially Entered Crazytown Territory

Tuesday, December 10, 2013

BofAML Warns "Bad Breadth" May Spoil 2014"s Stock Market Party

The % of NYSE stocks above their 200-day moving averages has a strong bearish divergence similar to previous plunge-preceding divergences. As BofAML notes, this points to diminishing momentum for market breadth and preceded pullbacks in the range of 15%-20% in 2010 and 2011; increasing the risk for a US equity market pullback in 2014.



It would take a break below 60% for the % of NYSE stocks above 200-day MAs to provide a more dire warning for US equities.


 


Source: BofAML






    





Zero Hedge



BofAML Warns "Bad Breadth" May Spoil 2014"s Stock Market Party

Tuesday, November 19, 2013

GLOBAL MARKETS-World stock markets pause amid growth concerns

GLOBAL MARKETS-World stock markets pause amid growth concerns
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/beb0e__p-89EKCgBk8MZdE.gif




Tue Nov 19, 2013 1:22pm EST



* Worries over timing of Fed taper resurface


* Dollar steady amid conflicting views on Fed stimulus


* Oil prices ease, copper edges higher


By Ryan Vlastelica


NEW YORK, Nov 19 (Reuters) – World stock markets mostly dipped on Tuesday as investors sought new catalysts to extend a rally amid signs of tepid economic growth, though Wall Street held mostly steady on expectations for continued stimulus from the Federal Reserve.


While accommodative policies from central banks around the world have boosted markets this year, market participants have grown concerned that the rally may have been overdone. In a sign that weakness may be ahead, the Paris-based Organization for Economic Cooperation and Development cut its 2014 forecast for global economic growth to 3.6 percent from the 4.0 percent it saw in May.


The outlook change followed negative comments from activist investor Carl Icahn, who on Monday told Reuters there was a chance the stock market could face a “big drop,” citing weak earnings growth.


Separately, short-seller Jim Chanos told Reuters that he was bearish on oil and coal companies, a sector tied to the pace of economic growth.


Despite that, the Fed’s bond-buying program, which is providing $ 85 billion of liquidity a month, is seen providing a floor to equity prices, though investors are keen for clues of when the Fed will begin to scale back the program.


“I’d say there’s a very low probability the Fed does anything between now and the end of the year,” said Dan Veru, who oversees $ 4.5 billion as chief investment officer of Palisade Capital Management in Fort Lee, New Jersey, adding that markets would “drift up” through then.


MSCI’s world equity index, which tracks shares in 45 countries, fell 0.3 percent, after hitting a six-year peak on Monday.


The Dow Jones industrial average was down 1.63 points, or 0.01 percent, at 15,974.39. The Standard & Poor’s 500 Index was down 2.44 points, or 0.14 percent, at 1,789.09. The Nasdaq Composite Index was down 10.57 points, or 0.27 percent, at 3,938.50.


The Dow was helped by a rally in Home Depot, which advanced 1.3 percent after its quarterly results.


The earnings season has been mixed in Europe, contributing to the region’s 0.7 percent drop on Tuesday. Shares in the region recently hit a five-year high.


“Pan-European multiples are close to multi-year highs. That means markets are no longer cheap and we need to see some earnings improvement to warrant higher equity prices,” said Gerhard Schwarz, head of equity strategy at Baader Bank.


Earlier, optimism sparked by China’s bold economic reform plans continued to bolster Asian markets, lifting MSCI’s index of Asia-Pacific shares outside Japan by 0.2 percent, extending Monday’s 1.4 percent rally.


DOLLAR FLAT


The dollar held steady on Tuesday, caught between talk the U.S. central bank could keep its easy policy stance until March and some optimistic comments on the economy by two top Fed officials that could signal an earlier move.


William Dudley, president of the New York Fed and one of the staunchest supporters of the Fed’s easy-money policies, cited labor market improvements and stronger-than-expected growth in the third quarter as positive signs for the U.S. economic recovery. Philadelphia Fed President Charles Plosser, an inflation hawk and critic of Fed stimulus spending, also pointed to improving economic conditions.


The U.S. dollar index fell 0.2 percent, though the greenback rose 0.2 percent against both the yen and the euro.


Euro zone government bonds moved within narrow ranges, with 10-year German yields slightly firmer at 1.7 percent, while lower-rated Spanish and Italian yields were little changed.


The benchmark 10-year U.S. Treasury note was down 6/32 in price, the yield rising to 2.6979 percent.


In commodity markets, copper fell 0.1 percent while gold was flat. U.S. crude oil futures rose 0.1 percent while Brent crude lost 1.04 percent.






Reuters: Bonds News




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Monday, November 18, 2013

US stock indexes hit round-number milestones

US stock indexes hit round-number milestones

NEW YORK (AP) — The stock market broke through two milestones Monday as a historic rally pushes stocks further into record territory.
Business Headlines



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VIDEO: Will J.C. Penney Pull Off A Turnaround?







J.C. Penney has blunted its steep drop in sales. Now investors want to know if the improvement can last. Suzanne Kapner discusses on MoneyBeat. (Photo: Getty)













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VIDEO: Will J.C. Penney Pull Off A Turnaround?

Monday, November 11, 2013

Icahn spoke again with Apple"s Cook on stock buyback - CNBC

Icahn spoke again with Apple"s Cook on stock buyback - CNBC
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NEW YORK Mon Nov 11, 2013 1:03pm EST



NEW YORK Nov 11 (Reuters) – Activist investor Carl Icahn has spoken with Apple Inc. Chief Executive Tim Cook again to discuss a potential stock buyback, cable television network CNBC reported on Monday.


Icahn, who has demanded a $ 150 billion buyback publicly and privately to Apple’s Cook since August, had a good conversation with Cook and they both continue to believe the company is undervalued, CNBC reported.


Icahn owns roughly 4.7 million shares in the technology giant; he revealed on Aug. 13 that his investment firm had a “large position” in Apple. He has said that Apple shares could trade at $ 700 with a larger stock buyback.


Apple shares were down 0.36 percent at $ 518.70 in afternoon trading on Monday.


Icahn and Apple were not immediately available for comment.


Icahn also said that he hoped offshore driller Transocean would raise its stock dividend further in the future, CNBC reported.


Switzerland-based Transocean said Monday that it had reached an agreement with Icahn to pay out a $ 3 dividend and reduce its maximum number of board seats to 11 from 14.


Icahn, who disclosed a 5.6 percent stake in the company in January, had previously pressed for a $ 4 per share dividend. Transocean shares were up 3.8 percent at $ 55.5 in afternoon trading.






Reuters: Bonds News




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Sunday, October 27, 2013

Business - Financial - Stock Exchange - Real Estate - Syria - News 2013 - 2014 -- Weekly Wrap

Business - Financial - Stock Exchange - Real Estate - Syria - News 2013 - 2014 -- Weekly Wrap
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Business - Financial - Stock Exchange - Real Estate - Syria - News 2013 - 2014 -- Weekly Wrap

CLICK HERE➡ ➡ http://FinancialBuzz.com Business – Financial – Stock Exchange – Real Estate – Employment News 2013 – 2014 — Weekly Wrap Business News – Finan…





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Friday, October 25, 2013

Lock, stock and a smoking printer? UK police seize ‘3D-printed gun parts’

Lock, stock and a smoking printer? UK police seize ‘3D-printed gun parts’
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Published time: October 25, 2013 15:48

A handout picture taken on October 24, 2013 and released by Greater Manchester Police on October 25, 2013 shows a 3D printer seized by British police during an operation that also resulted in the seizure of plastic 3D components that police believe could be used to make a viable 3D-printed gun in the Baguley area of Manchester, northwest England on October 24, 2013. (AFP Photo)

A handout picture taken on October 24, 2013 and released by Greater Manchester Police on October 25, 2013 shows a 3D printer seized by British police during an operation that also resulted in the seizure of plastic 3D components that police believe could be used to make a viable 3D-printed gun in the Baguley area of Manchester, northwest England on October 24, 2013. (AFP Photo)




British police say they’ve seized a 3D printer and 3D-printed gun components, including a trigger and a magazine capable of holding bullets, during a raid in Manchester. Critics, however, say they found nothing more than spare printer parts.


The alleged gun parts were discovered, along with the 3D printer, when officers from the Greater Manchester Police force carried out a search Thursday in the Baguley area of Wythenshawe, in the south of Manchester.


If the parts prove to be legitimate, the bust would represent the first-ever seizure of the next-generation weapon, which can be constructed by a 3D printer almost entirely out of plastic – creating the possibility of evading detection by airport security metal detectors.


The components are now being forensically examined by firearms specialists to establish if they could be used to construct a functional device.


A man has been arrested on suspicion of making gunpowder and is currently in custody for questioning.


Police fear such weapons can be created by criminals in the privacy of their own homes, thus evading detection by security scanners at airports and other high-risk targets.

“If what we have seized is proven to be viable, components capable of constructing a genuine firearm, then it demonstrates that organized crime groups are acquiring technology that can be bought on the high street to produce the next generation of weapons,”
Greater Manchester Detective Inspector Chris Mossop told Sky News.

“In theory, the technology essentially allows offenders to produce their own guns in the privacy of their own home, which they can then supply to the criminal gangs who are causing such misery in our communities,” he said. “Because they are also plastic and can avoid X-ray detection, it makes them easy to conceal and smuggle. These could be the next generation of firearms.”


A commenter on the California tech-blog GigaOM noted, however, that the parts being paraded in the media “are actually spare parts for a 3D printer,” and not components for a weapon.


“If the police thinks that the part on the photo is a trigger, just search mk8 on thingiverse.com and you will see that it’s a upgrade part for a printer. I really don’t get this media/police fascination relating to 3d printers with guns… it’s a tool to make 3d parts, not guns,” user nuno gato wrote.


A handout picture taken on October 24, 2013 and released by Greater Manchester Police on October 25, 2013 shows a plastic component that British police suspect to be a trigger that could be used to make a viable 3D-printed gun, seized by police during searches as part of an operation in the Baguley area of Manchester, northwest England on October 24, 2013. (AFP Photo)


Hours later, New Scientist came to the same conclusion, noting the “trigger” identified by police appears to be part of a MakerBot 3D printer designed to extrude 3D-printing plastic to make an object. The “clip,” incidentally, looks like a part intended to hold spools of plastic.


“It does look like the MakerBot part,” Stuart Offer, of 3D-printing firm 3T RPD in the UK city of Newbury, told the magazine. “These 3D printed guns seem to have hit the headlines, but I’ve no idea why they take off so much,” he said, noting that homemade weapons were not that difficult to manufacture. “A little engineer in his shed with a mill down the bottom of the garden could make a proper metal barrel capable of firing a high-velocity bullet.”


A handout picture taken on October 24, 2013 and released by Greater Manchester Police on October 25, 2013 shows a plastic component that British police suspect to be a magazine that could be used to make a viable 3D-printed gun, seized by police during searches as part of an operation in the Baguley area of Manchester, northwest England on October 24, 2013. (AFP Photo)


3D printed weapons first came to the attention of law enforcement officials worldwide after Defense Distributed announced it had successfully test-fired a handgun created with a 3D printer.


In May, the organization, founded by a 25-year-old crypto-anarchist Cody Wilson, posted blueprints for the single-shot .380-caliber Liberator online.


The files were downloaded more than 100,000 times in just two days before the US State Department demanded that they be removed. Britain was the No. 5 downloader of the plans upon publication, with Germany, Brazil, the United States and Spain filling out the top four positions.


A working version of the Liberator went on display in September in the Victoria and Albert Museum in London.


The only non-plastic part of the Liberator is a tiny nail that acts as the firing pin, as well as a .380 cartridge it fires. Wilson is reportedly working on fabricating plastic bullets, a move that would make it nearly undetectable at security screenings.  3D-printed firearms can also be manufactured without serial numbers or unique identifiers, tripping up ballistics testing.


Anyone with a sufficiently sophisticated 3D printer, which can be bought for $ 1,725 or even less, can make such weapons.


After users download designs for guns or components, the printers themselves ejects molten plastic to produce 3D shapes of whatever design has been downloaded.


An actual 3D gun can be made for as little as $ 25, according to a report by Forbes magazine.


Police agencies in Germany, Austria and Australia (http://rt.com/news/3d-gun-australia-police-758/) have been testing 3D weapons to get a better sense of their efficacy. Preliminary tests indicate a strong likelihood users could maim or kill themselves instead of the intended target, however, though the guns are expected to become increasingly sophisticated as technologies advance.


“In Germany and in most European countries, the possession of an unregistered weapon, even if it is manufactured at home, is illegal and punishable by law,” Michael Brzoska, a security expert and director of the Institute for Peace Research and Security Studies at the University of Hamburg, recently told the New York Times. “But the temptation to try, if it’s technically possible, is a great one.”


While it is currently legal for a person to manufacture a firearm for personal use in the US, the production of weapons using 3D printers is already banned by a European Union directive to member countries.


The UK imposed a ban on handguns after the 1996 Dunblane Primary School massacre, when a gunman shot 16 children and one adult before committing suicide.


So far, there are no reported violence crimes committed with 3D printed weapons.




RT – News




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