Economy
Global stocks under pressure as bond markets ring recession alarms (Thomas R.)
Johnson will limit parliament’s ability to derail his Brexit plans by unveiling his new legislative agenda on Oct. 14, a government source told Reuters, stoking fears of an economically disruptive no-deal departure from the EU.
The pound, already trading lower on the day, was last down 0.6% at $1.2210.
Addicted To Fines (tmn)
High fine communities can be found in just about every state, but they tend to be concentrated in certain parts of the country. Rural areas with high poverty have especially high rates. So do places with very limited tax bases or those with independent local municipal courts. And these jurisdictions are far more common in the South than elsewhere. The states that stood out in our analysis were Arkansas, Georgia, Louisiana, Oklahoma and Texas, plus New York. Fines and forfeitures accounted for more than one-fifth of general revenues in the most recent financial audits for 52 localities in Georgia, and 49 in Louisiana. By contrast, several Northeastern states with high property taxes had no localities exceeding the 10 percent threshold.
Exclusive: Fake-branded bars slip dirty gold into world markets (Thomas R.)
Four of the executives said at least 1,000 of the bars, of a standard size known as a kilobar for their weight, have been found. That is a small share of output from the gold industry, which produces roughly 2 million to 2.5 million such bars each year. But the forgeries are sophisticated, so thousands more may have gone undetected, according to the head of Switzerland’s biggest refinery.
Is $2,000 Gold On The Horizon? (Thomas R.)
And as a newcomer to the scene, the company appears significantly undervalued, meaning that they have the one thing that every investor is after: discount gold.
We’re talking about a stock that has a modest market cap of around $12 million, but is currently sitting on gold reserves estimated to be worth billions.
The Message of Measles (jdargis)
Almost everyone who contracts measles exhibits symptoms; this is not the case with, say, polio, a disease in which three out of four people don’t show any symptoms at all. “The measles vaccine really works, and the virus finds those who are unprotected, either because they haven’t been vaccinated or because they don’t have immunity from a prior measles infection,” Bruce Gellin, the president of global immunization at the Sabin Vaccine Institute, in Washington, D.C., told me. “So you can see it spreading. You can see where you’re vulnerable, on a mass scale.” It’s a little like sticking a punctured tire in a barrel of water. Measles finds the leak.
Sell Kraft Heinz Stock Because the Turnaround Task Is Enormous, Analyst Says (Thomas R.)
Guggenheim analyst Laurent Grandet reiterated a Sell rating on Kraft Heinz on Tuesday. He wrote that, while the new appointments are an “incremental positive” in that they show Patricio’s “sense of urgency…to make changes to the top,” he is still bearish on the shares “given the enormity of the task ahead and the uncertainty around the ultimate success of a potential turnaround.”
‘Retail Armageddon’ will hit in 5 days says industry CEO (Thomas R.)
“You know what’s going to happen on the 1st? Most of the apparel is going to get hit and about half the footwear is going to get hit and this is our selling season,” he said. “We know the president loves Christmas…we hope he doesn’t want his administration to be the Grinch. We don’t make that much money and 15 percent is going to take away the profits of retailers.”
Dollar General, Dollar Tree, Family Dollar to pay $1.2 million for selling expired, obsolete products (Thomas R.)
“We continue to believe that the DG-branded motor oil products at issue meet both the company’s standards for quality and value, but also all applicable federal and state labeling, marketing and placement requirements where they are sold,” Dollar General said in a statement.
On the issue of expired drugs, Dollar General said it “took immediate action to address the situation, and we continue to work with our store teams to ensure that the company’s expectations regarding expired products are clearly communicated, understood and implemented.”
“The reference to Johnson & Johnson as ‘a family company’ comes from the way it tries to appear to the public. Our trial, in part, was about unmasking this company for what it was found guilty of yesterday, being the kingpin behind the deadliest man made epidemic in our nation’s history,” he said.
How insurance companies are fueling a rise in ransomware attacks (tmn)
The mayor, Witt, said in an interview that he was aware of the efforts to recover backup files but preferred to have the insurer pay the ransom because it was less expensive for the city. “We pay a $10,000 deductible, and we get back to business, hopefully,” he said. “Or we go, ‘No, we’re not going to do that,’ then we spend money we don’t have to just get back up and running. And so to me, it wasn’t a pleasant decision, but it was the only decision.”
Colossal Crude Oil Inventory Draw Carries Prices Higher (Thomas R.)
Oil prices were trading up on Tuesday prior to the data release despite the appearance that the United States could be softening its stance on the Iranian nuclear deal and the subsequent oil exports that would be unleashed on the market in the rather unlikely event that the Iran vs. the West showdown wrap up in quick form. It also ignored news from China that it would seek to increase its domestic demand for products to weather the tariffs imposed by US strong-arming, indicating China’s future unwillingness to give up ground in the trade talks.
City crows may have high cholesterol because they eat fast food (tmn)
Jukka Jokimäki at the University of Lapland in Finland was surprised the fast food didn’t have a bigger negative influence on the birds’ health. “There are probably some other urban-related factors that are more important for the crows,” says Jokimäki, adding that other aspects of city life may tax crows’ health, such as car collisions and disease.
Gold & Silver
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