411PUBLISH: 2015

Monday, November 30, 2015

IMF admits China's yuan to elite currency club

China's yuan has just won promotion to the premier league of global currencies.
The International Monetary Fund on Monday approved the yuan for inclusion in its elite basket of reserve currencies in what amounts to a major vote of confidence in Beijing's economic reforms.

IMF Managing Director Christine Lagarde said the decision represented "an important milestone" in China's integration into the global financial system.

Saturday, November 28, 2015

4 reasons Russia and Turkey can't afford a trade war

A war of words has erupted after Turkey shot down a Russian warplane on Tuesday.

Russian President Vladimir Putin called the downing of the jet a "stab in the back by the terrorists' accomplices." His Turkish counterpart Recep Tayyip Erdogan accused Moscow of deceit, and described Putin's comments as a "huge mistake" in an interview with CNN on Thursday.

Gold price plummets to almost 6-year low

Here's what people aren't buying right now: Gold.

The yellow metal traded as low as $1,051.60 an ounce on Friday, the cheapest price in nearly 6 years.

Gold prices haven't been this depressed since February 2010 -- before the popular show "Downton Abbey" was even on television -- when gold fell under $1,045 an ounce.

Friday, October 30, 2015

Two-child policy conceives new biz opportunities

BEIJING, Oct. 30 (Xinhua) -- China's historic elimination of its one-child policy will give birth to new business opportunities, though demographers predict that this particular maternity will be a long one.

China will allow all couples to have two children, ending the one-child policy that has been in place since the late 1970s, the Communist Party of China (CPC) announced on Thursday.

Saturday, October 17, 2015

Iran ballistic missile test condemned by US

The nuclear weapons-capable missile was launched on 10 October.

US ambassador to the UN Samantha Power said that her country was "deeply concerned" by the test firing.

Correspondents say however that it is unlikely to derail the recent US-Iran nuclear agreement.

But it does illustrate that despite the deal there is still little love lost between the two countries, BBC Defence correspondent Jonathan Marcus says.

FanDuel/DraftKings: Nevada bans daily fantasy as gambling

The Nevada Gaming Control Board has banned residents of the state from participating in daily fantasy sports on the grounds that it constitutes gambling, it announced Thursday.

Daily fantasy "meets the definition of a game or gambling game," the gaming board concluded.

The Wall Street Journal reported earlier Thursday that the FBI and Department of Justice are investigating the legality of pay-to-play daily fantasy sports. Daily fantasy sites have previously been allowed to operate due to an exception in the Unlawful Internet Gambling Enforcement Act of 2006 for online games of skill.

Monday, October 12, 2015

Interest Rate Hike 2015: China Warns Against Federal Reserve Increase Because Of Critical Dollar

The United States shouldn't raise interest rates to avoid hurting developing nations dependent on the U.S. dollar, China's finance minister said. Lou Jiwei said the dollar remained critical to the global economy.

"The United States isn't at the point of raising interest rates yet, and under its global responsibilities, it can't raise rates," Lou said in an interview published in the China Business News Monday. He spoke during the annual meeting of the World Bank and International Monetary Fund in Lima, Peru.

It may get harder for rich Chinese to buy green cards

It's about to get a lot harder to buy a green card.

The U.S. government runs a program that grants permanent residency to foreigners who sink at least $500,000 into a job-creating investment. The controversial immigrant investor program, known as EB-5, has been hugely popular with rich Chinese, but lawmakers are considering changes that could make getting a green card a bit tougher.

Sunday, October 11, 2015

Oregon sells $10.8 million worth of pot in the first 6 days October 09

It's a big pot payday.

Dispensaries in Oregon sold $10.8 million worth of recreational pot in the first six days it was legal, said the Oregon Retailers of Cannabis Association.

Recreational sales became legal in Oregon on October 1, and the association has only tallied revenue through October 6.

Kevin McCarthy’s real crime: He spoke the truth about Benghazi

In case it wasn't already clear, the wingnuts in Congress have won. John Boehner was too sane and diplomatic for their liking, so they forced him to an early retirement. Now it appears they've given Kevin McCarthy, the Speaker-in-waiting, the boot.

McCarthy's downfall began when he angered Republicans by committing the unpardonable sin of admitting what most people outside the conservative echo chamber already knew, which is that Benghazi was a manufactured non-scandal designed to taint Hillary Clinton.

Wednesday, September 23, 2015

Happy Birthday lawsuit plaintiff Jennifer Nelson wins

On Tuesday evening a federal judge ruled that the one of the world's most popular songs is free of copyright.

Since 1988, Warner/Chappell Music has held the copyright to the beloved song and reportedly collected $2 million per year in royalties. It's been charging for every use, whether it's in a movie or TV show or a musician singing it to an audience member.

Friday, September 18, 2015

U.S., Russia Discuss Moscow's Military Buildup In Syria

WASHINGTON (AP) — Defense Secretary Ash Carter called his Russian counterpart Friday, the first step in direct military talks proposed by Russia about Moscow's military buildup to support the Syrian government against the Islamic State group.

The 50-minute conversation marked the first time that American and Russian defense chiefs have spoken in more than a year amid U.S. anger over Russian invasion and annexation of Ukraine's Crimea region.

Monday, September 7, 2015

India Rising: Do people feel the economy picking up?

If you believe the official figures, India's economy is growing at an annual rate of more than 7%, the fastest of any major country.

Not everyone is convinced growth is really that high though.

BBC News went around India asking people if they feel things really are picking up.

Today's toon: More of Donald Trump's 'losers'

Republican presidential candidate Donald Trump loves to call successful people "losers."

Gavin Andresen on Why Bitcoin Will Become Unreliable Next Year Without an Urgent Fix

The way things are going, the digital currency Bitcoin will start to malfunction early next year. Transactions will become increasingly delayed, and the system of money now worth $3.3 billion will begin to die as its flakiness drives people away. So says Gavin Andresen, who in 2010 was designated chief caretaker of the code that powers Bitcoin by its shadowy creator. Andresen held the role of "core maintainer" during most of Bitcoin's improbable rise; he stepped down last year but still remains heavily involved with the currency (see "The Man Who Really Built Bitcoin").

Friday, August 21, 2015

Japan's finance minister warns China on currency moves

TOKYO (AP) — Japanese Finance Minister Taro Aso said Friday that recent moves by China to allow its currency to depreciate are a concern and could pose problems for Tokyo.

Japan's Nikkei 225 stock index fell 3 percent to 19,435.83 on Friday, slipping below the psychological 20,000 mark on widespread selling.
"Chinese factors are a big part of this, without a doubt," Aso said at a regular news briefing.

Monday, August 17, 2015

Scottsdale Fire, HonorHealth launch mobile health program

The Scottsdale Fire Department and HonorHealth hospital network have teamed up to launch the city's first mobile integrated health-care program that will specialize in home visits with the area's most vulnerable medical populations.

Following other Valley cities such as Mesa and Chandler, the partnership will bring individualized medical advice and attention to patients' doorsteps without the time or expense of costly 911 calls and emergency-room visits, the program's organizers said.

Sunday, August 16, 2015

Djokovic wants to weed out toking tennis fan

World No. 1 Novak Djokovic was unnerved by the smell of marijuana smoke on Saturday as he advanced to the final of the ATP Rogers Cup by defeating France's Jeremy Chardy.

During his 6-4, 6-4 victory, Djokovic complained to the umpire about the smell of marijuana smoke. After the match he addressed the issue, which he said had distracted him in a prior match as well.

"Oh my God," Djokovic said. "You can't believe how bad it was. Whoever it is, he's pretty high and I hope he doesn't come back tomorrow. Because it's a pretty bad smell. I didn't enjoy it much."

The Serb said later that the same situation happened to him in a Friday doubles win.

Read more....Djokovic wants to weed out toking tennis fan

Saturday, August 8, 2015

Sorry China, the Internet You’re Looking for Does Not Exist in Chinese Stock Markets

The long arm of China's massive internal security apparatus just reached further into the heart of the country's web. On August 4, China's Ministry of Public Security (MPS) announced that it would embed law enforcement officers at major Internet companies, which appear to include China Mobile, U.S.-listed Alibaba, and Tencent, which owns WeChat, the country's largest social network. The online press release did not specify a time frame, but emphasized that creating rooms for "web police" in each company's offices would aid the timely discovery and prevention of evils like terrorism, fraud, the theft of personal information, and, of course, "rumors," meaning whatever the government decides is a speech crime. In a paternalistic flourish, the MPS reminded companies they must be "a model of self discipline in the industry," and refrain from publishing "vulgar [or] harmful information."

Chinese buyers feed new energy into Texas real estate

With investors nervously watching the Shanghai stock market, Chinese are the now biggest foreign buyers of American real estate, and they are setting their sights on the biggest state in the Lower 48.

Sunday, August 2, 2015

Could Scottsdale see 3 new marijuana dispensaries?

Three medical-marijuana companies are eyeing the Scottsdale Airpark for new dispensary locations as they look to tap into one of Arizona's highest concentrations of patients authorized to use the drug.

Two proposed dispensaries are on the south side of the airport's runways, while a third is planned near the Scottsdale Quarter office and shopping complex, according to city records. The latter has already been approved for a permit, while a City Council vote is likely upcoming for the others.

Pot industry's bank bid rejected by federal regulators - US News

DENVER (AP) — A Colorado credit union is hoping a federal judge will intervene to let the booming marijuana industry move its finances from cash-stuffed suitcases to the regulated banking system.

A pair of lawsuits filed in Denver this week challenge recent decisions by the U.S. Federal Reserve and the National Credit Union Administration to deny applications from Fourth Corner Credit Union.

Monday, July 27, 2015

The price of diamonds is collapsing

Market prices for diamonds are in a long, slow, five-year decline and it's causing havoc for diamond producers.

Petra Diamonds reported a 10% sales drop in the first half of the year to $425 million today, while luxury brand De Beers saw a 23% collapse in profits to $360 million last week.

The diamond price is to blame, driven by falling demand in, you guessed it, China. Diamond prices have dropped about 12% over the last five years.

Sunday, July 26, 2015

LeBron James signs deal with Warner Bros. to develop movie, TV projects

Warner Bros. and LeBron James are officially playing on the same team.

The studio announced Wednesday that the NBA megastar and his production company, SpringHill Entertainment, reached a deal "in an unprecedented agreement spanning all areas of content creation." It encompasses plans to develop projects in television, film, and online content with James, fresh off his performance in Trainwreck.

Monday, July 13, 2015

China crash is making the rich richer

President Xi Jinping has his eyes fixed squarely on one goal for the Chinese economy — moving it from an investment-based economy to one based on consumption.

To do that, of course, you must have consumers.

Unfortunately for those plans, consumers are getting absolutely crushed in the stock-market crash the country has been experiencing since June 12.

Monday, July 6, 2015

Greek banks are illiquid and insolvent

It's not like Fitch was ahead of the curve when it declared on Friday that the "four largest Greek banks have failed…" two days after downgrading them to "RD" (Restricted Default) because they'd defaulted on their depositors.

But Fitch shed a gloomy light on just how tough – or rather impossible – it will be to move forward so that these banks can re-open their doors, even if negotiations between Greece and its creditors can be brought back to life.

Sunday, July 5, 2015

China's Unsettling Stock Market Collapse in Chinese Stock Markets

This summer has not been calm for the global economy. In Europe, a Greek referendum this Sunday may determine whether the country will remain in the eurozone. In North America, meanwhile, the governor of Puerto Rico claimed last week that the island would be unable to pay off its debts, raising unsettling questions about the health of American municipal bonds.

Friday, July 3, 2015

Saudi Arabia might be leaving the US behind for Russia

The news from the recent St. Petersburg Economic Forum, which took place from June 18 to 20, inspired a torrent of speculation on the future direction of energy prices.

But the real buzz at the conference was the unexpected but much publicized visit of the Saudi Deputy Crown Prince, as an emissary of the King. The Prince, who is also his country's Defense Minister, carried the royal message of a direct invitation to President Putin to visit the King, which was immediately accepted and reciprocated, with the Prince accepting on behalf of his father.

Saturday, June 27, 2015

Medical Marijuana Industry Anticipates High Times As US Loosens Research Restrictions

Is medical marijuana really a medicine? Is it a drug? A dietary supplement? The definition is opaque, both scientifically and politically. But scientists and policymakers took steps this week that will let researchers more closely investigate the drug's potential medical value.

On Monday, the Obama administration banished a longstanding mandatory review of marijuana research proposals by the Public Health Service, effective immediately. Supporters of the decision said the review was merely a needless extra hurdle for scientists, and in some cases those who submitted proposals waited months or years to hear back.

China central bank eases policy again to support economy

BEIJING (Reuters) - China's central bank cut lending rates for the fourth time since November and trimmed the amount of cash that some banks must hold as reserves, stepping up efforts to support an economy that is headed for its poorest performance in a quarter century.

Saturday's combined easing highlights Beijing's concerns that money isn't flowing to some of the most-needed sectors in the economy and that stubbornly high borrowing costs that could fuel bankruptcies and job losses. The last time the central bank simultaneously cut interest rates and reserve requirements was at the height of the global financial crisis in late 2008.

Thursday, June 25, 2015

Obama tells Marc Maron he saved the stock market

President Barack Obama says he saved the American economy... and its stock market.

Obama did a victory lap on comedian Marc Maron's podcast, WTF, earlier this week, and said people's lives are better today than they were four years ago, which is ultimately the goal of any presidency.

Sunday, June 21, 2015

Greece will hurt Europe no matter what

The economic crisis in Greece is far from over, and as it plays out it will have political and economic ramifications across Europe. The most Athens and its lenders can hope for at present is a temporary agreement to prevent a Greek default and buy time to continue negotiations, but the possibility of Greece exiting from the eurozone remains.

And while a default and a "Grexit" would impact global markets and European politics most drastically, drawn out negotiations will themselves also erode confidence in the viability of the European Union.

Wednesday, June 10, 2015

Really Feeling My Joints Today

Sunday, June 7, 2015

Steve Benson Cartoons

Monday, June 1, 2015

The Patriot Act Just Expired. Here's What Happens Now.

The Senate packed up Sunday evening without extending the expiring surveillance provisions of the Patriot Act, meaning that—for now, at least—the U.S. intelligence community is without tools that it says are vital to national security, including the National Security Agency's bulk collection of U.S. call data.

Thanks to the stubborn opposition of Sen. Rand Paul and a gamble with the clock by Majority Leader Mitch McConnell that sorely backfired, the Senate failed to deal with the three controversial parts of the post-9/11 act that reached sunset the moment the calendar turned to June.

Monday, May 25, 2015

Number of Arizona marijuana initiatives doubles

Second marijuana initiative filed ... The Campaign to Legalize and Regulate Marijuana filed paperwork last week for a competing effort to legalize marijuana, potentially jeopardizing any effort to legalize the drug in 2016.

Like the first initiative, the group seeks to let adults carry up to an ounce of marijuana and proposes a 15 percent tax to help fund public education. However, those who carry more than 8 ounces of marijuana could be slapped with a misdemeanor, as opposed to a felony, as the first initiative proposes.

Bitcoin Might Be The Next Big Thing In The Remittance Market

Bitcoin's most disrupting feature is its decentralized architecture. Indeed, bitcoin relies on a P2P network of computers to proceed money transfers. Each part of the network works to create new bitcoins ('mining'), keep the network alive and validate transactions.

All the transactions are registered in the blockchain that is used to validate a transaction using cryptography technology: it ensures that you can't use a bitcoin you don't own or you don't use the same bitcoin more than once. This last action previously required a third party, but with bitcoin this is not the case anymore: the network replaces financial institutions and banks.

Wednesday, May 20, 2015

NYSE creates a new bitcoin index

The New York Stock Exchange is diving deeper into the world of Bitcoin with the introduction of a bitcoin pricing index.

The index, which will be made available through NYSE's Global Index Feed and free on its website for a limited time, is intended to serve as a definitive benchmark for valuing the currency — in the same way that the LIBOR index is used to measure global interest rates.

Friday, May 15, 2015

A complete timeline of India-China relations since Modi took charge – Quartz

Much before he became India's prime minister, Narendra Modi was already a self-professed admirer of China.

"China and its people have a special place in my heart," Modi said in 2011 while he was on his fourth visit to the country as the Gujarat chief minister. "I admire their hard working, disciplined and resilient nature and above all, their sense of history."

Saturday, May 9, 2015

Unexpected triumph means Cameron can govern UK on his own

LONDON (AP) — After years of sharing power, David Cameron pulled off an unexpected election triumph that gave the Conservative prime minister a second term with an outright majority Friday and dealt a stinging defeat to his three main rivals.

Friday, March 13, 2015

Obama to speak at Phoenix VA Friday

President Barack Obama will be at the Phoenix VA Medical Center on Friday to discuss veterans issues.

The White House announced the trip on Tuesday.

The president will be joined with the Secretary of Veterans Affairs Robert McDonald.

The president will hear about progress made to improve the VA's ability to serve veterans in a timely and effective manner, areas where more progress is needed and further steps that are planned, according to the White House press secretary.

Thursday, March 12, 2015

China's banks are lending a lot of money, very fast

Chinese banks extended 1.02 trillion yuan of new loans in February, well above market expectations, while growth in broad money supply quickened, taking some heat off the central bank as it seeks to boost flagging economic growth.

Economists polled by Reuters had expected new local-currency loans to fall to 750 billion yuan in February from 1.47 trillion yuan in January, which marked a lending surge not seen since mid-2009.

Alternative way to pay for expensive drugs may be needed, analysis says

In an era of $1,000-a-pill medications, a new approach may be needed to finance an emerging breed of highly expensive pharmaceuticals and vaccines, according to a new RAND Corporation analysis.

In other industries, it is common for suppliers to encourage investment through approaches such as equipment leases or supplier-financed credit. Health care could learn from such approaches, according to Dr. Soeren Mattke, lead author of the analysis and a senior scientist at RAND, a nonprofit research organization.

Red more... http://m.medicalxpress.com/news/2015-03-alternative-expensive-drugs-analysis.html

Tuesday, February 24, 2015

In Hong Kong, Grandma Has to Find a Job

(Bloomberg) -- Eighty-six years old and still job hunting.

Wong Siu-ying had to stop passing out leaflets on a Hong Kong flyover when she hurt her knee in August. With two-thirds of her social security income spent on rent and no steady allowance from her three children, retirement isn't an option.

Monday, February 23, 2015

China could be the big winner of the Ukraine crisis

The crisis in Ukraine has plunged US-Russian relations to their lowest point since the Cold War.

Crimea is now Russian territory. Although prisoners of war have been exchanged and both sides have agreed to pull back heavy weapons, the accord signed on February 12 in Minsk has failed so far to stop the fighting in Eastern Ukraine.

Saturday, February 21, 2015

Severe congestion at America's busiest ports is about to be eased

Wal-Mart Stores Inc, the world's largest retailer, said on Thursday the dispute had caused delays of "pockets of merchandise" and that the potential cost had been included in the company's earnings forecasts this week.

The deal was welcomed by groups such as the National Association of Manufacturersand the U.S. Meat Export Federation.

Tuesday, February 17, 2015

Greek Banks Need More Emergency Funds

(Bloomberg) -- Greek lenders are urging central bank Governor Yannis Stournaras to seek additional emergency cash as deposit outflows accelerate, according to three people familiar with the situation.

Deposit withdrawals picked up after talks between Greece and its euro-area creditors on extending its bailout ended in acrimony in Brussels Monday night, said the people, who asked not to be identified because the information is private. Stournaras meets European Central Bank Governing Council colleagues in Frankfurt tomorrow as Greek banks exhaust their current allocation of emergency funds, the three people said.

Sunday, February 8, 2015

Brain Foods Pictures Slideshow: What to Eat for Better Concentration

Listen to the buzz about foods and dietary supplements, and you'll believe they can do everything from sharpen focus to enhance memory, attention span, and brain function.

But do they really work? There's no denying that as we age, our body ages right along with us. The good news is that you can improve your chances of maintaining a healthy brain if you add "smart" foods and drinks to your diet.

Saturday, February 7, 2015

$573 million in pot sales: 12 stats that defined cannabis' year

We can opine anecdotally on how legal marijuana sales changed Colorado in 2014, and we've done just that recently — read my "year in the life of the world's first marijuana editor" essay here.

But since we're journalists we also track down the hard numbers that show legal marijuana's definitive impact on the state in this first year of recreational pot sales. And a glance at the numbers, statistics and calculations below will give you a very clear picture of what legal, regulated, first-of-its-kind marijuana looks like in the Rocky Mountains.

Chaos in Yemen: Who are the key players?

Yemen's President Abed Rabbo Mansour Hadi resigned Thursday amid a standoff between powerful Iran-backed Houthi rebels, who control the capital Sanaa.

The different parties involved in the conflict are backed by outside forces who've been adversaries in other battle zones across the Middle East. The Houthis are backed by Iran while the Yemeni government has been supported by the USA, Saudi Arabia and Qatar. Al-Qaeda also has a significant presence in the country, and is now the only force still actively fighting the Houthis.

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