Posts belonging to Category USA



A thousand US CEOs and mayors: ‘we will continue to fight climate change’

The Paris Agreement is a blueprint for job creation, stability and global prosperity

Over a thousand mayors, businesses, investors, and academic institutions have signed a pact to continue fighting climate change in the US despite Donald Trump’s withdrawal from the Paris Agreement.

Last week, Mr Trump pulled out of the Paris accord, stressing that it puts American workers at an “economic disadvantage” and that it is “unfair” for the US economy.

The “We Are Still In” initiative represents $6.2 trillion of the US economy – composed of bipartisan “drivers of the real economy,” Lou Leonard, World Wildlife Fund’s Senior Vice President of Climate Change and Energy, told The Independent.

http://www.independent.co.uk…  Tue.,  06  June 2017

Saudi Arabia, UAE, Egypt and Bahrain break diplomatic ties with Qatar over ‘terrorism’

Is Quatar really supporting terrorism?

Saudi Arabia, the United Arab Emirates, Egypt and Bahrain have broken off diplomatic relations and all land, sea and air contacts with fellow Gulf Arab state Qatar, in the region’s most serious diplomatic crisis in years. Saudi Arabia on Monday said the move was necessary to protect the kingdom from what it described as terrorism and extremism. The kingdom also pulled all Qatari troops from the coalition fighting the ongoing war in Yemen.

The official state news agency, citing an official source, said Saudi Arabia had decided to sever diplomatic and consular relations with Qatar“proceeding from the exercise of its sovereign right guaranteed by international law and the protection of national security from the dangers of terrorism and extremism”.

http://www.theguardian.com…  Mon.,  05  June 2017

Climate change: 30 US mayors negociate directly with UN against Trump

Representatives of American cities, states and companies are preparing to submit a plan to the United Nations pledging to meet the United States’ greenhouse gas emissions targets under the Paris climate accord

Representatives of American cities, states and companies are preparing to submit a plan to the United Nations pledging to meet the United States’ greenhouse gas emissions targets under the Paris climate accord, despite President Trump’s decision to withdraw from the agreement.

The unnamed group — which, so far, includes 30 mayors, three governors, more than 80 university presidents and more than 100 businesses — is negotiating with the United Nations to have its submission accepted alongside contributions to the Paris climate deal by other nations.

http://www.nytimes.com…  Fri.,  02  June 2017

Trump wants to exit the Climate Change Paris Agreement

New York Mayor to Uphold Paris Agreement on Global Climate Effort

New York Mayor Bill de Blasio promised Wednesday that his city would uphold the Paris climate agreement even if President Trump moves forward with his campaign promise to withdraw from the accord.

In a series of tweets, de Blasio ripped Trump’s reported decision to exit the deal as “horribly destructive” and called climate change “a dagger aimed straight at the heart of New York City.”

http://www.efficientgov.com…  Thu.,  01  June 2017

Walmart’s online sales are exploding

Walmart Reports 63% Rise in Online Sales

Walmart’s (WMT, -0.23%) massive e-commerce investments are starting to pay off.

The discount chain reported on Thursday that U.S. online sales rose a staggering 63% in the first fiscal quarter of the year, following last year’s overhaul of its online marketplace and a series of acquisitions of e-commerce companies since then, most notably its $3 billion purchase of Jet.com. And more importantly, Walmart said comparable sales rose 1.4% at its U.S. stores, the 11th consecutive quarterly rise, and brought in more shoppers than a year earlier, in stark contrast to the traffic problems at rivals ranging from Target (TGT, +0.37%) to Macy’s (M, +0.34%). Walmart has credited its efforts to integrate its store and digital businesses so that they feed off each other.

http://www.fortune.com…  Mon.,  29  May 2017

Oil prices tumbled dropping more than 4%

Extension by OPEC of their current oil output cut

Oil prices tumbled dropping more than 4%, as the markets sold off following an as expected extension by OPEC of their current oil output cut. What was clear is that the market had probably priced in something even greater than the extension of the agreement until March.  What many had hoped was that OPEC would generate deeper cuts, and further attempt to rebalance markets by reducing the amount of crude oil placed on the market on a daily basis.  The selloff reflects disappointment, but OPEC believes that a 9-month rollover will rebalance global inventories.  Meanwhile the happiest producers have to be the United States, who has gladly filled the void left by OPEC.

WTI crude futures are down 4.3% closing near $49.15, which breaks a three-week bull run and stands as the biggest one-day drop since May 4. The losses have been seen after the Saudi energy minister said that we’re going to roll over with the same terms over a nine-month period, with regard to the OPEC-led output cut. This would extend the existing accord for a 1.8 million barrels-per-day supply reduction from the end of June through to the end of March next year.

The so-called Vienne Group, which is OPEC nations plus allied oil producing nations, most notably Russia, met on Thursday. The sell-off in crude markets appears to be an on-the-fact style market reaction. Saudi Arabia and Russia are concerned about current levels and will likely keep cheating to

http://www.fxempire.com…  Fri.,  26  May 2017

Is UBER a Ponzi scheme?

Magellan’s Hamish Douglass says Uber is a ‘Ponzi scheme’

Uber’s practice of persistently raising capital from private investors is akin to a Ponzi scheme, according to veteran investor and Magellan Financial Group chief executive Hamish Douglass.

In a candid interview at the Stockbrokers and Financial Advisers Conference in Sydney on Wednesday, Mr Douglass lamented the dramatic losses awaiting Uber investors as automated driving technology permeates the market.

http://www.smh.com…  Wed.,  24  May 2017

Boeing declares war against Bombardier

In Bombardier fight, Boeing sees ghost of Airbus ascent

Two words underpin Boeing’s (BA.N) decision to launch a U.S. trade complaint against Bombardier (BBDb.TO), which plunged it into a row with Canada last week: “Never again”. Allegations that the Canadian firm dumped newly designed CSeries passenger jets in the United States at a steep loss have threatened a sale of F/A-18 warplanes to Ottawa, sending Boeing scrambling to save the deal.

Some analysts say Boeing carelessly put at risk billions of dollars of defense work or pandered to growing protectionism. But decades after Boeing failed to prevent European upstart Airbus gaining momentum with early victories in the United States, people familiar with the company say the strategic importance of defending its core passenger jet business outweighs the diplomatic storm. U.S. industry experts say Boeing and other jetmakers at the time did not take the European consortium seriously enough and allowed their future nemesis to poach U.S. airlines from 1978.

http://www.reuters.com…  Tue.,  23  May 2017

Quant Hedge Funds

A new sort of hedge fund relies on crowd-sourcing

“QUANT” hedge funds have long been seen as the nerdy vanguard of finance. Firms such as Renaissance Technologies, Two Sigma and Man AHL, each of which manages tens of billions of dollars, hire talented mathematicians and physicists to sit in their airy offices and develop trading algorithms. But what if such talent could be harnessed without the hassle of an expensive and time-consuming recruitment process? That is the proposition Quantopian, a hedge fund and online crowd-sourcing platform founded in 2011, is testing. Anyone can learn to build trading algorithms on its platform. The most successful are then picked to manage money. Last month the firm announced it had made its first allocations of funds to 15 algorithms it had selected.

http://www.economist.com …  Thu.,  18  May 2017

Cyber attack

Hacking group threatens to sell code

Governments turned their attention to a possible new wave of cyber threats on Tuesday after the group that leaked U.S. hacking tools used to launch the global WannaCry “ransomware” attack warned it would release more malicious code. The fast-spreading cyber extortion campaign, which has infected more than 300,000 computers worldwide since Friday, eased for second day on Tuesday, but the identity and motive of its creators remain unknown. The attack includes elements that belong to the U.S. National Security Agency and were leaked online last month.

Shadow Brokers, the group that has taken credit for that leak, threatened on Tuesday to release more recent code to enable hackers to break into the world’s most widely used computers, software and phones. A blog post written by the group promised from June to release tools every month to anyone willing to pay for access to some of the tech world’s biggest commercial secrets. It also threatened to dump data from banks using the SWIFT international money transfer network and from Russian, Chinese, Iranian or North Korean nuclear and missile programs. “More details in June,” it promised.

http://www.reuters.com …  Wed.,  17  May 2017