Thursday, September 21, 2017

What A Good Idea

Norway wealth fund hits 'milestone' $1 trillion value

Norway's sovereign wealth fund, the largest in the world, on Tuesday reached the value of $1 trillion dollars for the first time, the Norwegian central bank, which manages the fund, said. This amount equals nearly $189,000 (157,000 euros) for each of the 5.3 million people living in Norway. Established in the 1990s to manage the Norwegian…

Good News For Gold

Beijing, Shanghai shut down bitcoin exchanges: media

Banking regulators in Beijing and Shanghai have ordered local cryptocurrency exchanges to shut down, state media reported Tuesday, in the latest blow to the once flourishing Chinese market for virtual money. A Beijing-based regulator required all exchanges in the city to cease operations by 6:00 pm on September 20, according to the official Xinhua news agency.…

Critical Merger With Sub-Continent/Europe

ThyssenKrupp, Tata to merge European steel operations

German heavy industry giant ThyssenKrupp and Indian group Tata agreed on Wednesday to merge their steel operations in Europe, taking second place in the continent's market behind ArcelorMittal. The two groups, which will finalise the deal in 2018, expect efficiency savings of between 400 and 600 million euros ($480-720 million) per year and are likely to…

Muscling In On China's Lucrative Airline Market

Airbus opens first overseas wide-body jet plant in China

People speak together near a scale model of an Airbus A330-200 during the Airbus annual news conference in Colomiers, near Toulouse January 13, 2015.[Photo/Agencies] Europe's largest aerospace company Airbus SE will open its first overseas completion and delivery center for wide-body aircraft in Tianjin, North China, on Wednesday, Bloomberg News reported. The center to be inaugurated…

Diamond In The Rough For Africa

Africa Will Become the Food Basket of the World รข€” Dangote

In a packed room at the headquarters of global law firm Shearman and Sterling LLC high level business leaders and international diplomats invited by the Corporate Council for Africa to hear Africa's richest man, Aliko Dangote, and Rwandan president Paul Kagame openly converse on Africa's opportunities and challenges. Both leaders underscored the ongoing movement to diversify…

Tuesday, September 19, 2017

Great, But It Seems Like A Bit Of A Mutilated Victory If You Ask Me

US state grants $3 billion in tax incentives to Foxconn

Wisconsin Governor Scott Walker signed a bill on Monday granting $3 billion in tax incentives to Foxconn, paving the way for the Taiwan electronics giant to build a manufacturing plant in the state. Foxconn, maker of Apple's iPhone, is expected to invest up to $10 billion to build a flat-screen facility in the state -- with…

Pushing Back Against Russian Encroachment

Germany Ordering Warships Amid Russia Resurgence

Germany is on the verge of striking a $2 billion deal for five new Braunschweig-class corvettes that would improve its capabilities and help meet NATO defense spending commitments. Parliament approved the funds for the vessels in June, and the German navy expects to receive the ships by 2025. They will each be equipped with a 76mm…

It's Okay, They Said The Same Thing To Scotland And All That Happened Was The U.K. Left E.U.

Spain warns Catalonia faces 'brutal' impoverishment if it leaves

Catalonia would suffer "brutal" impoverishment if it splits from Spain, with a deep plunge in its economic output, Spain's economy minister warned Monday ahead of a disputed independence referendum in the region. "The general impoverishment of the society would be brutal. GDP could fall between 25 and 30 percent and unemployment double," Economy Minister Luis de…

Am I The Only Person Bothered By This Development?

Navy's most advanced submarines will soon be using Xbox controllers

ABOARD USS JOHN WARNER — The control room of one of the Navy's most advanced submarines is filled with sophisticated computers, flat-screen monitors and sailors who grew up in a digital world. At times it can look a bit like a video game arcade, and not just because of the high-resolution graphics. The Navy is beginning…

With Permanent Russian Bases Right Next Door In Syria

In first, US establishes permanent military base in Israel

For the first time in history, the United States on Monday established an official, permanent military base in Israel: an air defense base in the heart of the Negev desert. Dozens of US Air Force soldiers will call home the new base, located inside the Israeli Air Force’s Mashabim Air Base, west of the towns of…

Monday, September 18, 2017

I Think Hurricane Harvey And Friends Will Change This

August auto slump holds down US retail sales

Sagging sales of autos held down overall US retail sales in August, with American consumers buying goods and services at their slowest pace in six months, government data showed Friday. However, the Commerce Department said it was unclear to what extent Hurricane Harvey had affected the monthly numbers, with the storm both hurting and helping sales…

Saddam Was The Last Person To Try This And He Wasn't Even In The Same Hemisphere

Shunning dollar, Venezuela lists oil prices in Chinese yuan

Venezuela on Friday began listing the price of its oil in the Chinese yuan, following President Nicolas Maduro's announcement last week that he would rid the economy of the "US imperialist system." The move was seen as a bid to weather US-imposed sanctions on the embattled country. The country's petroleum ministry listed the week's closing price…

Well Isn't This Interesting? Energy ETF XLE On A Sell With Possible Inverse Head And Shoulders Pattern

I normally prefer wedges when it comes to making my predictions but this was too good to pass up. Energy ETF XLE has been on a real tear lately due mostly to hurricanes and granted there has been some damage to the Texas infrastructure it isn't the mess some people were generally expecting. XLE is right now come up to a critical resistance level, $66.00, with two prior touches of what appears to be a "left shoulder." The RSI(5) also appears to be putting in a short term sell signal so I expect this to be confirmed with a change in the EMA's. What's also interesting is that XLE is starting to move above the MA(144), another bullish move. Near term XLE is looking "short" but the medium term prospects (which require a little more clarity) may be bullish!

Colonialism v2.0: Possibly Sowing The Seeds Of World War Three

China provides $10 billion credit line to Iran

A Chinese state-owned investment firm has provided a $10 billion credit line for Iranian banks, Iran's central bank president said Saturday. The contract was signed in Beijing between China's CITIC investment group and a delegation of Iranian banks led by central bank president Valiollah Seif. The Iran Daily said the funds would finance water, energy and…

All Electric Push Continues

Rickshaws to jump start India's all-electric drive

India will roll out nearly 100,000 battery-powered buses and autorickshaws onto its sulphurous city streets in the coming weeks, setting it on the bumpy road to making new vehicle sales all-electric by 2030. India, one of the world's most polluted nations, has one of the most ambitious plans to kick its fossil fuel addiction. Analysts say…

Sunday, September 17, 2017

"Wow" Emoji

Trump Won't Withdraw from Paris Climate Deal

The Trump administration announced Saturday the U.S will not pull out of the Paris agreement and offered to re-engage in the international deal to fight climate change, according to the European Union’s top energy official. President Donald Trump’s decision in June to withdraw to negotiate from the Paris deal or craft a new agreement came during…

Yeah, This Is Still An Important Part Of The World

GAZA STRIP - Hamas ready for reconciliation deal with Palestinian Authority leader Abbas

The Hamas militant group said Sunday it has accepted key conditions demanded by its rival, President Mahmoud Abbas, including nationwide elections in the West Bank and Gaza Strip, to clear the way for a reconciliation deal after a 10-year rift. The rift has left the Palestinians divided between two governments. In a statement issued overnight, Hamas…

Saturday, September 16, 2017

Japan Is Looking A Little Burnt Out (EWJ)

Japan ETF EWJ has usually been a bit of a stalwart and I've never had to comment much on it but recently I drew in an ascending wedge pattern which has held really nicely up till now. I can't say I'm a particularly huge fan of the long-term prospects for the Japanese economy, the first developed nation to begin selling more adult diapers than children's, but it has always being a reliable gainer and it does have a lot of good things going for it. Right now the divergence between the MA(144) and various EMA's is quite divergent and with a pattern developing like this a retracement to MA(144) seems quite strong.

Building Enthusiasm For Electric Cars

Automakers put new-energy cars in fast lane at Frankfurt

A vehicle equipped with the Gazele 3 battery management system was among exhibits at the Frankfurt Motor Show connected to new energy technology. [Photo/China Daily] The enthusiasm of automakers for new-energy vehicles was strong at this year's Frankfurt Motor Show, which is also known as 2017 IAA, as restrictions on gasoline vehicles becoming more prevalent and…

Friday, September 15, 2017

Trade War Threats Continue

Trump Blocks Chinese Takeover of US Computer Chip Company

President Donald Trump has blocked the acquisition of a U.S. computer chip manufacturer by a Chinese company, calling it a threat to national security. The Chinese-owned Canyon Bridge Fund has sought to take over Oregon-based Lattice Semiconductor Corp. The U.S. Treasury Department, acting under Trump’s orders, said Wednesday it is prohibiting the deal. It says the…