Ships Sabotaged in UAE Waters Identified

first_imgzoomIllustration. Source: Pixabay under CC0 Creative Commons license The Saudi Arabia-flagged tankers involved in the sabotage incident off UAE earlier this week have been identified as the 300,000 dwt Amjad and the 105,200 dwt Al Marzoqah.According to data provided by VesselsValue, the VLCC and the LR2 tanker significant hull damage close to the water line after being fired upon in a suspected sabotage attack off Fujairah.The incident occurred in the Gulf of Oman on May 12. There were no reports of injuries to the vessels’ crews.The ships were on their way to cross into the Arabian Gulf. One of the two tankers was to be loaded with Saudi crude oil from the port of Ras Tanura, to be delivered to Saudi Aramco’s customers in the United States.Besides the two Saudi tankers, the incident involved the Norway-flagged crude oil tanker Andrea Victory and the UAE-flagged tanker A Michel, both of which suffered significant hull damage close to the water line at its stern. A Michel began to list due to water ingress, and booms were deployed as a precaution against potential pollution, VesselsValue added.Khalid Al-Falih, UAE’s Minister of Energy, Industry and Mineral Resources, earlier denounced the attack adding that it had an aim “to undermine the freedom of maritime navigation, and the security of oil supplies to consumers all over the world.”World Maritime News Stafflast_img read more

Nonheinous crimes on rise in national capital

first_imgNew Delhi: A total of 1,56,714 non-heinous cases of crime were reported in the national capital in 2019, up from 1,22,498 in 2018 till July 15, marking a 27.93 per cent rise, according to Delhi Police’s crime statistic data. The cases of murder have increased, as per the Delhi Police data. The cases of murder in 2019, reported till July 15, stood at 283. The figure was 250 during the same period last year, the data revealed. However, a senior police officer said the number of crimes in Delhi under all the major heads have shown a declining trend, except 4.26 per cent increase in motor vehicle thefts and 50 per cent rise in other theft cases this year till July 15. Also Read – After eight years, businessman arrested for kidnap & murder Till July 15 this year, 24944 cases of motor vehicle theft were reported, which was 23923 during the same period last year. Other theft cases were 102123, against 67760 in 2018 till now. “In all, 159649 cases were registered under the provisions of Indian Penal Code (IPC) till July 15 this year, as against 125669 in 2018. The statistics also showed that there is a slight rise of 1.5 percent in snatching cases. Till July 15, this year 3577 cases were reported as against 3524 in 2018. Also Read – Two brothers held for snatchings There is a big rise in crime against women. Till July 15 this year, cases of cruelty by husband and in-laws stood at 1936 till July 15 this year, against 1471 during the same period in 2018. In 90 per cent cases of crime against women, it has been observed that the accused is someone known to victims. The officer said one of the big reasons for rise in crime in the national capital is that unemployed youth staying in JJ clusters and unauthorised colonies adjacent to colonies of the opulent class resort to such activities after seeing the lifestyle of the rich that is replete with comfort and opulence. They start harbouring the desire to become rich within a short period. This motivates them to try their hand at street crimes like snatching and robberies. Factors such as low income, unemployment and under employment, increasing charm of consumerism and materialism are the factors which continue to play their role behind the rising level of delinquency amongst the youths.last_img read more

Bob Saget To Host Cool Comedy Hot Cuisine For Charity

first_imgBob Saget will host Cool Comedy – Hot Cuisine, the Scleroderma Research Foundation’s (SRF) signature event on Monday, October 22 at Carolines on Broadway.Saget, an SRF Board Member who lost his sister to scleroderma, will be joined in the fundraising effort by comedians Seth Herzog (Late Night with Jimmy Fallon), Seth Meyers (Saturday Night Live), John Oliver (The Daily Show) and Triumph the Insult Comic Dog.Presented by Actelion Pharmaceuticals, Cool Comedy – Hot Cuisine benefits the SRF, America’s leading nonprofit investor in research to find improved therapies and a cure for people living with scleroderma, a disease of the connective tissues that literally means “hard skin,” but often affects the internal organs with life-threatening consequences.Symptoms and severity of scleroderma vary greatly and the course of the disease is often unpredictable. Women between the ages of 20 and 50 represent 80% of patients; however, children and men of all ages are also affected.The “Hot Cuisine” will be provided by Bravo Top Chef Masters and restaurateurs Susan Feniger (an SRF Board Member) and Mary Sue Milliken (Food Network’s Too Hot Tamales) featuring dishes from Feniger’s acclaimed restaurant, STREET.“It’s inspiring what can happen when passionate people work together,” says Saget. “As a result of this night, researchers on the front lines for patients are changing lives.”Cool Comedy – Hot Cuisine events held in New York, Los Angeles and San Francisco have raised considerable awareness for scleroderma and enabled the SRF to press forward with research aimed at helping patients live longer, fuller lives. Founded by patient Sharon Monsky in 1987, the SRF has raised more than $31,000,000 to fund research at Dartmouth, Stanford, University of California San Francisco and other universities as well as America’s foremost scleroderma center at Johns Hopkins.“The Foundation’s collaborative approach is enabling scientists from leading institutions across the nation and abroad to work together and develop an understanding of how scleroderma begins, progresses and what can be done to slow, halt or reverse the disease process,” explains Luke Evnin, Ph.D., SRF Board Chair and Managing Partner of MPM Capital, one of the world’s largest investors in life sciences.Cool Comedy – Hot Cuisine will include a live auction featuring the opportunity to be part of two of fashion’s premier events, the Victoria’s Secret Fashion Show and Mercedes Benz Fashion Week. Dining packages include a dinner for eight at the legendary Rao’s and an in-home dinner prepared by Top Chef Master Jonathan Waxman. Travel packages, including trips to Park City Utah and a celebrity chef Las Vegas/Los Angeles internship, are accompanied by first-class airfare provided by event sponsor Delta Private Jets.This event is sold out. All contributions benefit the Scleroderma Research Foundation. For more information, call (800) 441-CURE or visit www.sclerodermaRESEARCH.org.Source:PR Newswirelast_img read more

EverBank Field Rating the sight of the Gator Bowl

JACKSONVILLE, Fla. — It wasn’t the Rose Bowl in Pasadena, Calif., and it wasn’t the Mercedes-Benz Superdome in New Orleans, La., but the EverBank Field in Jacksonville, Fla., site of the 2012 Gator Bowl, was the best bowl game location Ohio State football could do this season. The stadium, home of the NFL’s Jacksonville Jaguars, holds more than 77,000 fans and was home of Super Bowl XXXIX between the New England Patriots and the Philadelphia Eagles. The mostly-full stadium held 61,312 fans for Monday’s Gator Bowl, and The Lantern was there to cover the game, and rate the quality of the venue. Here is our rating of EverBank Field, should Buckeyes, Browns or Bengals fans find themselves there in the future. All categories were rated on a five-point scale, with a five being the highest. Sight lines/seating: One of the most important factors when shelling out big bucks for an NFL game or a college football bowl game is your proximity to the field and the sight lines. Luckily for those in attendance for Monday’s Gator Bowl, the Buckeyes’ and Gators’ sideline areas were narrow. The front row of seats was quite close to the playing surface. The stadium was not particularly tall, and the higher the row you sat in, the farther you were from the action, kind of like the Rose Bowl. Upper deck seats might not have been the best vantage point, but the expansive lower bowl would be well worth the price of admission. Lantern rating: 2 Access to stadium/location: Though the stadium wasn’t at full capacity, traffic to the game was manageable — a 15-minute cab ride from downtown Jacksonville. Public transit is an option, as is an elevated, light-rail train that runs right past the stadium. Very convenient. The stadium location is also quite nice. The Baseball Grounds of Jacksonville, home of the Double-A affiliate of Major League Baseball’s Miami Marlins, is a beautiful, red-brick ball field adjacent to EverBank Field. Lastly, and perhaps best of all, the stadium is located on the banks of the St. Johns River, which makes for a picturesque scene. Lantern rating: 4 Aesthetics of the stadium: EverBank Field is comprised mostly of large concrete ramps that run up to the upper levels of the stadium. It isn’t very colorful or particularly eye-grabbing. The open-air facility was very open indeed, and probably not conducive to allowing crowd noise to reverberate and bother the team you’re rooting against. Lantern rating: 1 Gameday atmosphere: There was a large tailgate party situated on a lawn outside of the stadium. Hundreds of fans attended, ate, drank and watched college football on a jumbo-sized television screen. The cost of admission to the tailgate was $10, but your “ticket” to enter was the official Gator Bowl patch — worn by both teams during the game — attached to a lanyard. The patch was a fine souvenir and the tailgate grounds gave fans the opportunity to meet and get pumped for the game. Lantern rating: 4.5 To visit or not to visit: All categories considered, EverBank Field garnered a 2.875. A trip to EverBank Field, which was built in 1995, could be justified for a college football bowl game. A trip to see the Jaguars, which finished the 2011 season with a 5-11 record, though? Probably not. read more

Womens Lacrosse Firsthalf domination leads to Northwestern decimating Ohio State 206

Ohio State then-freshman midfielder Liza Hernandez looks to pass in the offensive zone against Stanford on Feb. 24, 2017 at Ohio Stadium. Credit: James King | Sports DirectorThe Ohio State women’s lacrosse team could not keep up with No. 8 Northwestern and fell 20-6 to the Wildcats Friday afternoon. Northwestern (10-3, 3-0 Big Ten) ended the first half with five unanswered goals in the final 13 minutes and held a commanding a 13-3 advantage at halftime. The Buckeyes (5-7, 1-3 Big Ten) fought to get back in the game but the deficit was too large for Ohio State to overcome. Northwestern struck first just 47 seconds into the game with a goal from sophomore midfielder Sheila Nesselbush. But Ohio State sophomore midfielder Liza Hernandez responded less than 30 seconds later with a goal of her own to tie the game at one. The Wildcats scored three more goals before Ohio State junior attack Sara Dickinson found the back of the net to cut Northwestern’s lead to two. Wildcat junior attack Selena Lasota had back-to-back goals during her team’s 4-0 run before Buckeye junior midfield Baley Parrott scored a goal to make the score 8-3. Ohio State had 21 turnovers, 12 of which came in the first half, which allowed Northwestern the early opportunities. The teams traded goals early in the second half, but Wildcats took advantage of their early lead and extended their win streak to five.  Lasota led Northwestern with four goals and had one assist. Hernandez led the Buckeyes with two goals and four draw controls. Ohio State sophomore goalie Jillian Rizzo racked up 14 saves against the Wildcats, while Northwestern’s two goalies combined for six saves. Northwestern held a 44-17 shot advantage.The Buckeyes will look to bounce back when they face Bucknell on the road at 4 p.m. Wednesday. read more

New model for social marketing campaigns details why some information goes viral

first_img(PhysOrg.com) — Marketers dream of finding ways to get something to “go viral” on the Internet. Indeed, viral marketing, whether it be through email, YouTube, Facebook or Twitter, has become the Holy Grail of online marketing campaigns. With viral marketing, it is possible for the message to reach millions in a matter of hours. Marketers and scientists alike have been studying this phenomenon in the hopes that it will yield information about human dynamics. “There has been a lot of research done on social networks,” Esteban Moro tells PhysOrg.com. “However, until now it has been rare to get feedback from an actual performed experiment. Most research on social media is done with data that is inferred. But we have real experimental data for the basis of our model.” Moro is a scientist at the Institute of Mathematical Sciences at Carlos III University in Madrid, Spain. Along with José Luis Iribarren at an IBM division based in Madrid, Moro devised a viral marketing experiment that provides some quantitative conclusions about how something goes viral online. Their work appears in Physical Review Letters: “Impact of Human Activity Patterns on the Dynamics of Information Diffusion.”“Most models of information diffusion through social media are based on the idea of homogeneity in human response,” Moro explains. According to Moro, most models are based around the average time that it takes for a person to respond to a request and then to pass it on. This model, while it might be useful in predicting some aspects of online marketing campaigns, does not adequately account for the reasons that some rumors, advertisements, content and even viruses suddenly explode worldwide in what is known as “going viral.”“Humans respond differently,” Moro continues. “We performed a viral marketing experiment and used the response to build a different model, based on the heterogeneity of human response.” The experiment consisted of seeding a campaign over the Internet that rewarded participants for passing it along via email to friends and colleagues. The email messages reached more than 30,000 individuals in 11 European countries, and Moro and Iribarren were able to track the spread of the piece of information through social networks. “Collectively, most information moves at a slower pace through networks than expected,” Moro says.But, if information moves slower than expected through social networks, how does one explain some information that “goes viral” quickly? Moro says that there is a tipping point of information spreading through social networks. The ability to surpass that tipping point and reach most of the collectivity is determined by those who are more actively involved in social media. “Some people respond to email within a couple of minutes. They are more active on social networks. If these people find something compelling, they respond quickly and propagate the information through their social neighborhood,” Moro says. “It’s about a difference in the way we schedule priorities, and differences in the way humans send information.” Time dynamics of the biggest viral cascade, from Spain. Each “snapshot” represents the process at different times. The circles represent participates and the arrows describe the propagation of the message. Colors are meant to help you keep track of different stages of the message propagation. Image credit: Esteban Moro and José Luis Iribarren. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. On the other hand, if information does not reach the tipping point needed to “go viral,” it is because that information is at the mercy of those who take longer to respond. Instead of capturing the interest of the fastest responders, some information merely moves slowly through social networks, sometimes lasting months or years as it continues to be pushed through social media channels as people get around to it after days or weeks. “Even though our experiment lasted only a couple of months,” Moro says, “we were still receiving responses after finishing it. People were still responding. It was just taking them longer to get around to it.”The model offers interesting insight into human dynamics. “Our work shows that there is no such thing as a typical time scale in human dynamics, and the impact of this fact in information diffusion,” Moro insists. “This sharply contrasts with current information diffusion models that base information spread on homogenous response time.” He also points out that this work could also be helpful in tracking the spread of fads, hoaxes, opinions or rumors. Moro says that IBM has a patent to detail a model for viral marketing campaigns. “Our model allows us to predict how many people get the campaign message the first day, and how long it will take the message to go through social networks. The model provides a mathematical framework for modeling efficiency in social networks.” More information: José Luis Iribarren, Esteban Moro, “Impact of Human Activity Patterns on the Dynamics of Information Diffusion,” Physical Review Letters (2009). Available online: link.aps.org/doi/10.1103/PhysRevLett.103.038702 . Copyright 2009 PhysOrg.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed in whole or part without the express written permission of PhysOrg.com.center_img Citation: New model for social marketing campaigns details why some information ‘goes viral’ (2009, August 6) retrieved 18 August 2019 from https://phys.org/news/2009-08-social-campaigns-viral.html The Physics of Friendship Explore furtherlast_img read more

OrangeFrance Telecom has reportedly ended discuss

first_imgOrange-France Telecom has reportedly ended discussions with Yahoo! about the latter buying a majority stake in its online video site Dailymotion, following objections by the French Ministry of Culture. According to a report last week in French paper Le Monde, the government expressed misgivings about a US firm taking over one of France’s few preeminent internet companies, leading Orange – which is 27% state-owned – to drop the talks.Reports first emerged last month that Yahoo! was interested in buying up to 75% of the French video site, after the Wall Street Journal claimed that Yahoo! could pay around US$200 million for the asset, in what would have been Marissa Mayer’s first major deal since joining Yahoo from Google last year.The news comes as Yahoo! moves forward with its own video strategy, unveiling six new original web series at its ‘New Front’ event in New York last night.Morgan Spurlock is producing Losing Your Virginity with John Stamos in which the eponymous actor will interview celebrities about how they lost their virginity.The Daily Show’s Ed Helms has created Tiny Commando, an action comedy about a four-inch tall private detective that will be produced by Principato-Young Entertainment.Principato-Young is teaming with Michael Eisner’s digital production company Vuguru for another of the original, We Need Help about an overworked personal assistant.The three lifestyle shows are Fashion Recipe, hosted by celebrity stylist Brett Alan Nelson, food and film show Cinema & Spice and cookery show Grill Girls (WT).“In the last year, we have more than doubled the original video programming on Yahoo! to become one of the Web’s largest content publishers,” said Erin McPherson, Yahoo! vice president and head of video.“The new shows and partnerships we’re announcing at Yahoo!’s NewFront demonstrate how we are building scale, reaching more targeted audiences, and innovating with content.”last_img read more

Could JPMorgan et al engineer a price decline at t

first_imgCould JPMorgan et al engineer a price decline at this juncture. Sure. They can do it anytime they want.Gold didn’t do much during the Far East trading session on Tuesday, but a smallish rally began shortly after 3:00 p.m. Hong Kong time around the $1,609 spot price mark.  The high of the day [$1,619.50 spot] came minutes before 9:00 a.m. in New York…and from there it got sold off to its low of the day [$1,607.70 spot] at 10:00 a.m. Eastern…the time of the London afternoon gold ‘fix’.  From that time onwards, it didn’t do much.Once again, net volume was pretty light…around 93,000 contracts…and gold closed at $1,612.30 spot…up the magnificent sum of 70 cents.Silver began to rally at the same moment as gold…and really took off to the upside about 1:00 p.m. in London…about twenty minutes before the Comex open.  Silver’s high point of the day, like gold, came about 8:50 a.m…and that price was $28.34 spot  Silver got sold off about two bits going into the 5:15 p.m close of electronic trading.Silver finished the Tuesday session at $28.10 spot…up 22 cents on the day.  Gross volume was pretty chunky, but once the roll-overs out of the September contract were removed, the net volume was very light…around 19,000 contracts.The dollar index didn’t do much at the Far East open…but rallied a bit going into the Hong Kong afternoon.  The high tick [82.38] came shortly after 3:00 p.m. Hong Kong time…and the low tick [82.07] came about 8:30 a.m. in New York.  From that low, the index rallied back and closed at 82.35…virtually unchanged from Monday.The rallies in both gold and silver coincided perfectly with the moves in the dollar index yesterday.The gold stocks opened up…and stayed up…and this time there was no last half-hour sell-off going into the close.  The HUI finished up 1.38% on the day.After Monday’s big price-run up, the silver shares had another decent day yesterday…and Nick Laird’s Silver Sentiment Index closed up another 1.56%.(Click on image to enlarge)The CME’s Daily Delivery Report showed that 76 gold and 4 silver contracts were posted for delivery on Thursday within the Comex-approved depositories.There were no reported changes in either GLD or SLV…and no sales report from the U.S. Mint, either.There was a huge amount of activity in silver for the second day in a row over at the Comex-approved depositories.  On Monday they reported receiving 225,034 troy ounces of silver…and they shipped  2,523,686 troy ounces out the door.On Friday and Monday combined, these five depositories received 3.31 million ounces of silver…and shipped 4.30 million ounces out the door.  This is almost two days of world silver production coming in the door…and more than two days of world silver production going out the door.  One has to wonder the reason behind this frantic in-out activity that’s occurring on a weekly basis.  Ted Butler says that in a ‘normal’ week, it’s only about 2 million ounces in and out.  So with the week still very young, it will be interesting to see if this level activity continues.The link to Monday’s activity is here…and it’s worth a quick look.It’s been a busy week for stories…and today’s column is no exception.  I hope you have time to skim them all.There are no markets anymore…only interventions. – Chris Powell, GATALike Monday, I wouldn’t read a whole heck of a lot into Tuesday’s price action, either.  Prices basically followed the dollar index…and it was just “another day off the calendar” as Ted Butler is wont to say.Yesterday, at the close of Comex trading, was the cut-off for August’s Bank Participation Report…and the new Commitment of Traders Report.  Just eye-balling the price patterns over the reporting week, I’d say that we’ll see an improvement in the Commercial net short position in both gold and silver…but I wouldn’t bet a huge amount of money on that.Could JPMorgan et al engineer a price decline at this juncture. Sure. They can do it anytime they want.  They could hit gold for around sixty bucks or so…and silver for a dollar or more.  But will they?  Don’t know.  September is a big delivery month for silver…and the roll-overs out of the September contract have just started…and there’s no reason to think that they couldn’t fix the markets so that all these options/futures contracts close out-of-the-money on or before expiry day.When they smashed the precious metals last week, they started on Wednesday morning in London…and had the deed done by the time the job numbers came out on Friday morning in New York.  There’s no reason why they couldn’t do it again if that’s their plan.  We’ll just have to wait it out.Nothing worth mentioning happened in the Far East on their Wednesday…and nothing much is happened in London during the first two hours of their trading day.  Volumes continue to be vapours…and the dollar index isn’t doing a thing, either.  Will the rest of the Wednesday session be just “another day off the calendar”…or something more exciting?  We’ll find out soon enough.Enjoy what’s left of your day…and I’ll see you here tomorrow. Sponsor Advertisement Avrupa Minerals Ltd. is a growth-oriented prospect generator focused on aggressive exploration for valuable mineral deposits in politically stable and prospective regions of Europe with a growing pipeline of prospects in Portugal, Kosovo and Germany.Company highlights:Alvalade Project JV with Antofagasta Minerals SA – Copper and Zinc on 1000 km2 project area in the Portuguese Pyrite Belt – 2012 exploration budget of US$ 2.5 million, all provided by Antofagasta, including 6000 meters of core drillingGold exploration in the Erzgebirge Mining District, Germany – 307 km2 exploration license in 1000+ year producing region of tin, tungsten, silver, base metals, and uranium – Increasingly favorable permitting and mining regulations, long mining culture, widespread known gold panning locationsCovas Tungsten JV with Blackheath Resources Inc. – 922,900 mt @ 0.78% WO3 (non NI 43-101 compliant) historic resource – Potential to increase the tungsten resource – New gold target on the projectStrong management including Paul Kuhn, CEO, previously involved with several discoveries around the world, and Mark T. Brown, Director, founder of Rare Element Resources Ltd.Low risk exploration strategyShare structure and cash on hand (12/31/2011):16.1 million shares outstanding; 23.7 million shares outstanding, fully diluted40% of shares held by insiders, family, friends, and long-term investorsApprox. C$ 500,000 cash on hand (consolidated Canada and Europe)Antofagasta has provided US$ 350,000 for all anticipated Alvalade JV expenses for Q1 2012.Please visit our website for more information.last_img read more

Another day when the highfrequency traders were a

first_imgAnother day when the high-frequency traders were active almost the entire time. The gold price traded sideways until 10:00 a.m. Hong Kong time on their Tuesday morning and, with the exception of a couple of tiny rallies at the London and N.Y. Comex opens…both of which got hammered flat immediately…it was pretty much all down hill into an early London p.m. gold fix at around 9:50 a.m. EDT in New York. Once ‘the fix was in’…the high-frequency traders went to work…and spun the price down to its Tuesday low, which came just minutes after 11:00 a.m. EDT…and minutes after London closed for the day. The subsequent [but smallish] rally lasted until the 1:30 p.m. EDT Comex close…and from there it traded sideways until the end of trading at 5:15 p.m. in New York. The high tick came in early Far East trading…and was a bit over $1,385 spot…and the low tick in New York was $1,360.10 spot. Gold closed at $1,368.30 spot…down $16.10 on the day.  Gross volume wasn’t overly heavy at around 132,000 contracts. The red trace is Tuesday’s price action. The dollar index closed on Monday afternoon in New York at 80.63…and then spent until 9:00 a.m. EDT on Tuesday morning struggling up to its high of the day, which was 80.97.  But it was all down hill from there, as the rally fell out of bed…and the index hit its nadir of 80.56 about 12:40 p.m. in New York.  The dollar index closed at 80.69…basically unchanged from either Monday’s or Friday’s close. Here’s the chart from the Sunday night open in New York.  Every rally attempt above the 81.00 mark has failed…and the dollar index has closed within 10 basis points for three days in a row.  It’s worth mentioning that the precious metals price activity has had no correlation whatsoever to the currency moves on Tuesday…not that it ever has. Without JPMorgan Chase et al riding shotgun over them 24/7…the platinum and palladium charts looked quite different.  However, don’t ever lose sight of the fact that JPMorgan is the biggest Comex short holder in both platinum and palladium as well. The gold stocks opened down…and headed lower after the London p.m. gold fix.  The bottom was basically in at gold’s low, which came a few minutes after 11:00 a.m. in New York…and the equities traded sideways into the close.  The HUI finished down 2.84%. (Click on image to enlarge) Both these charts are courtesy of JPMorgan et al…as there is nothing free market about either of them.  The MACD and RSI traces are at lows probably never seen before…and both metals are well below their respective 200-day moving averages…and are probably the most oversold in the history of either metal, certainly going back over a decade.  If anyone has weekly charts for both metals going back that far, or further, I’d love to see them…and would be happy to post them in this space. I still firmly of the belief that when the bottom does finally arrive…and the market turns up…it will do so violently, as JPMorgan et al won’t be there to go short…as they are already mega-long gold in all markets…and attempting to cut their silver loses to a bare minimum in the process.  I also believe that it will happen in such a way that no trader will be able to react to it…and you’ll either be all the way in, or all the way out. That’s certainly the way I’m playing this.  But there’s been a terrible price [both financially and emotionally] to pay for being “all in” for the last ten years.  I, and others, are still paying that price…but I’ve bet the ranch on this particular outcome. Of course, it may not turn out exactly like that, but it will be pretty close…and I’m just hoping that I’ve prepared for any eventuality. In Far East trading on their Wednesday, there was no price action worthy of the name…and the same can be said of the first couple of hours of the London trading day as well.  Volumes are very light in both gold and silver…and the dollar index continues to chop sideways just under the 81.00 mark. Since I mentioned the dollar index, I remember that Ted pointed out last week that the four largest traders still hold a bit over 80 percent of the entire short position in the U.S. dollar index…traded on the I.C.E.  Ted figures that its “da boyz”.  So whatever happens in gold and silver on their next rally, it’s obvious that the dollar is going to get hit hard at the same time…and JPMorgan et al are all set up to profit on that as well when the brown stuff hits the fan.  And as I’ve pointed out on numerous occasions, it’s only the timing of these events that remains unknown…at least to the general public, as nothing happens by accident anymore. As I hit the ‘send’ button on today’s column at 5:10 a.m. EDT…gold is unchanged from Tuesday’s close…silver is down about a dime…volumes are still very light…and the dollar index isn’t doing much. It could prove to be an interesting day for all four precious metals during the New York session…and we should be emotionally ready for anything as the trading day unfolds. See you on Thursday. It was pretty much the same chart pattern in silver, expect the low tick [$21.45 spot] came at 10:30 a.m. EDT in New York…but after that it followed the same price pattern as gold…rallying into the Comex close, before trading more or less sideways for the remainder of the day. Kitco recorded the high tick as $22.01 spot, but if the price got that high, it only lasted for a second or two before falling back, as there’s no trace of it on the New York Spot Silver [Bid] chart. Gold closed at $21.68 spot…down 16 cents from Monday.  Volume, net of the roll-overs out of the July delivery month, were rather anemic at 23,500 contracts. The red trace is Tuesday’s price action. (Click on image to enlarge) Sponsor Advertisement The silver stocks had another bad day as well, even though the silver price was down only 16 cents.  Nick Laird’s Intraday Silver Sentiment Index closed down another 2.81%. (Click on image to enlarge) The CME’s Daily Delivery Report showed that only 26 gold contracts were posted for delivery on Thursday within the Comex-approved depositories. Even though it was only a tiny amount, “all the usual suspects” were involved…and the link to yesterday’s Issuers and Stoppers Report is here. There was a withdrawal from GLD yesterday.  This time it was 48,326 troy ounces.  And as of 10:34 p.m. EDT last night, there were no reported changes in SLV. There was no sales report from the U.S. Mint. Over at the Comex-approved depositories on Monday, they reported receiving 651,006 troy ounces of silver…and shipped 234,059 troy ounces of the stuff out the door.  The link to that activity is here.  There was no reported warehouse activity in gold. I have the usual number of stories for a week day…and I hope you can find the time for the ones that are of interest to you. It’s only because JPMorgan is so smart, powerful…and adept at manipulating markets…that they have been able to amass such a large gold long and small short silver position. The truth is maybe they can add more to the gold long and reduce the silver short position with still lower manipulated prices, but we have to be in the terminal phase of this operation in terms of gauging how many more sellers can be lured in at this point. There is a limit to such engineered speculative selling. Therefore, since JPM is running out of road as to how much more gold and silver they can buy before we reach the resolution, it is no exaggeration to say that we are running out of time in which to buy cheap silver…and gold. – Silver analyst Ted Butler…15 June 2013  It was another day of low volume, but another day when the high-frequency traders were active almost the entire time…as there was no precious metal-specific news to account for the big sell-offs in both gold and silver during the Comex trading session in New York.  Ted Butler’s quote from his Saturday commentary posted above, explains it better than I can. And as I mentioned further up…and in yesterday’s column…I expect to see some price ‘action’ when the word comes down from the FOMC meeting at 2:00 p.m. EDT this afternoon…and I fully expect that it will allow “da boyz” to hit the precious metals hard once again.  I’d love to be proven wrong. One interesting thing I did see in that piece by Dr. Alex Cowie posted in the ‘Critical Reads’ section, was the weekly silver chart.  I always post the daily charts…and it’s rare event when I remember to post anything else. Not only are we at the bottom of the barrel in price terms…and in the Comex futures market as well…but it is more than obvious when one looks at the 3-year weekly charts for both metals.  As Ted said on the phone yesterday…a major low is being set. Avrupa Minerals Ltd. is a growth-oriented prospect generator focused on aggressive exploration for valuable mineral deposits in politically stable and prospective regions of Europe with a growing pipeline of prospects in Portugal, Kosovo and Germany. Company highlights: Alvalade Project JV with Antofagasta Minerals SA – Copper and Zinc on 1000 km2 project area in the Portuguese Pyrite Belt – 2012 exploration budget of US$ 2.5 million, all provided by Antofagasta, including 6000 meters of core drilling Gold exploration in the Erzgebirge Mining District, Germany – 307 km2 exploration license in 1000+ year producing region of tin, tungsten, silver, base metals, and uranium – Increasingly favorable permitting and mining regulations, long mining culture, widespread known gold panning locations Covas Tungsten JV with Blackheath Resources Inc. – 922,900 mt @ 0.78% WO3 (non NI 43-101 compliant) historic resource – Potential to increase the tungsten resource – New gold target on the project Strong management including Paul Kuhn, CEO, previously involved with several discoveries around the world, and Mark T. Brown, Director, founder of Rare Element Resources Ltd. Low risk exploration strategy Share structure and cash on hand (12/31/2011): 16.1 million shares outstanding; 23.7 million shares outstanding, fully diluted 40% of shares held by insiders, family, friends, and long-term investors Approx. C$ 500,000 cash on hand (consolidated Canada and Europe) Antofagasta has provided US$ 350,000 for all anticipated Alvalade JV expenses for Q1 2012. Please visit our website for more information.last_img read more

In This Issue Dollar stuck in a tight range…

first_imgIn This Issue. * Dollar stuck in a tight range… * German confidence highest in 6 years… * Kiwi falls after NZ’s trade deficit widens… * Precious metals are largely unchanged… And, Now, Today’s Pfennig For Your Thoughts! Budget negotiations leave the dollar stuck in a rut… Good day, and what day is it???  HUMP DAAAAAY!!  I just love that commercial.  Yes we made it to the halfway point of the week, it is all a downhill run from here.  Chuck will be back writing the Pfennig tomorrow, so this is the last day of writing for me.  I can get back to my early morning workouts tomorrow and take advantage of these beautiful mornings we have been having.  The weather has cooled off just enough to make my morning runs nice and crisp. The markets have cooled off a bit also, staying in a fairly tight range after a pretty volatile last week thanks to the FOMC.  The dollar edged lower vs. most of the major currencies, but still didn’t break out of the tight range it has settled in following the big drop last Wednesday.  The uncertainties surrounding the US budget negotiations have most investors staying on the sidelines.  I still believe a budget deal will be reached, I just hope it gets done soon. The US data released yesterday was mixed, and did little to convince investors the US economy is gaining strength.  The S&P/Case Shiller home price index ticked up slightly, but was just below estimates.  The data showed US home prices have slowed their rate of gains, rising just .62% in July after a .88% increase during the prior month.  A separate report released by the US Federal Housing Finance Agency showed a slightly better increase in home prices with a 1% increase in July.  But both of these reports are for July, and don’t fully reflect the higher interest rates which took hold over the summer.  The other big piece of data released yesterday was US consumer confidence which slipped a bit in September.  The Conference Board’s Consumer Confidence index came in at 79.7 this month following a revised reading of 81.8 in August.  This was largely in line with economists’ expectations and reflect consumers’ worries that the US economic recovery could continue to be in jeopardy.  The uneven recovery of the labor market, and uncertainties about the Federal budget and new healthcare requirements continue to weigh on consumer confidence.  This recent drop in confidence is even more worrying for the markets as we are entering the incredibly important Christmas shopping season.  Today we will see some additional information on the health of the housing market with the release of the New Homes Sales figures.  We will also get a relatively new piece of data which shows the Household Change in New Worth (largely driven by home prices).  And before we see the latest readings on home sales we will get the Durable Goods Orders that are expected to have decreased by .2%.  This is actually an improvement over last month’s reading when durable goods orders fell a surprising 7.4%.  The budget battle has led to a bit of risk aversion, providing some support for the US$ and Japanese yen while some of the ‘riskier’ assets have been sold.  As I mentioned earlier, the currencies are all trading in a fairly tight range; the largest mover of the major currencies vs. the US$ today is the NOK which is down .8%.  This move is in concert with a similar slide in the value of the Swedish krona which got sold after data showed Swedish consumer and manufacturing confidence slumped in September.  The Nordic country’s consumer confidence gauge fell to 98.0 from a revised reading of 98.8 in August.  An increase in confidence was expected, so the more pessimistic view came as a surprise to the markets.  This Swedish pessimism stands in stark contrast to German consumers whose confidence in their economy rose to 6 year highs.  GfK market research group released its forward looking consumer sentiment indicator yesterday, and the survey showed German consumers are as confident in their economy as they have been since before the 2008 financial crisis rocked the markets.  The same firm predicts private consumption in Germany will increase about 1 percent in real terms during 2013 a sign that the German economy will grow moderately this year as the euro-area emerges from the ‘second dip’ of a double dip recession.  Another report confirmed the GfK numbers as the Ifo Institute’s business confidence indicator improved slightly. Merkel’s victory in last week’s German elections was a big deal for the euro as it provides businesses and consumers some confidence that the euro is here to stay.  All of the uncertainty about the euro’s future hung over the European continent like the sword of Damocles; smothering any real economic progress in the euro-region.  While the euro-crisis will undoubtedly show up on our radars again, the question of the euro’s survival is less of an issue.  The ECB and European Union can hopefully continue to move toward creating a banking and financial system which will continue to support the weaker members while keeping the overall economy on a positive growth track.  Things are certainly starting to look up for the euro area.  The New Zealand dollar fell in overnight trading after official data showed the nation’s trade deficit widened to 1.2 billion NZD last month.  This was the largest deficit in five years, and exactly what has been worrying us about the kiwi.  Chuck and I were just discussing the New Zealand dollar a couple of weeks ago, and he brought up the tiny island’s trade deficit as a factor which could weigh on the currency.  Trade deficits are typically a drag on a country’s currency, as the currency is sold in exchange for goods / materials being imported into the country.  In contrast, countries who run a trade surplus are actually creating demand for their currencies which of course supports their price.  Adding to the kiwi’s woes was a earnings warning by the NZ dairy giant Fonterra.  Dairy exports are very important to New Zealand’s economy, accounting for about 7 percent of annual GDP and one quarter of annual exports.  The kiwi is off .58% vs. the US$ today, but is still one of the best performing currencies during the month of September.  The best performing currency during the month of September?  The Brazilian real which is up over 8% vs. the US$.  Brazil’s central bank chief Alexandre Tombini said their FX market intervention had accomplished their intentions, reducing volatility for the Brazilian currency.  Tombini told Brazilian lawmakers that the central bank would continue to ‘stand at the ready’ with its $60 billion intervention program.  I am not a fan of currency intervention, as it rarely works over the long term, but it can have an impact in daily trading levels.  One piece of positive news which Tombini relayed in his speech was that he expects Brazil’s current account deficit to fall to 3% of GDP from the current level of 3.4%.   Also supporting the real is the expectation that interest rates will increase 75 basis points before the end of the year.  Inflation expectations have been increasing, with current forecasts of 5.96% inflation next year; well above the central bank’s target rate of 4.5%.  The commodities inched higher as China demand drove prices of raw materials higher.  Precious metals reversed a 3 day drop in overnight Asian trading, but couldn’t hold on to the gains in early European trading and are mostly unchanged. Then there was this. The folks on the desk know I sometimes struggle for material when I’m writing the Pfennig, so they help me out by sending me a steady stream of what I call ‘Pfennig Pfodder’.  Tim Smith did just that yesterday, sending along a couple of very good quotes which he had come across on the internet; and one in particular stuck out.  It is from Peter Coy, in a posting on the Bloomberg-Businessweek website on September 17th: ”The nonpartisan Congressional Budget Office on Tuesday projected a much gloomier long-term outlook for federal budget deficits than its year-ago forecast.  The CBO now predicts that federal debt held by the public will rise to 100 percent of gross domestic product by 2038 under its ‘extended baseline scenario.’  (It’s around 73 percent now.)  Last year it predicted the ratio would fall to 52 percent over the quarter-century in the baseline scenario. This is, as the CBO notes, a ‘very large’ forecast revision.” ”Reasonable people can disagree as to whether the federal government needs to tighten its belt right now, with the economy weak and unemployment high, but it’s pretty obvious that in coming decades, something has to give. Here’s how the CBO put it: ‘How long the nation could sustain such growth in federal debt is impossible to predict with any confidence.  At some point, investors would begin to doubt the government’s willingness or ability to pay U.S. debt obligations, making it more difficult or more expensive for the government to borrow money.  Moreover, even before that point was reached, the high and rising amount of debt that CBO projects under the extended baseline would have significant negative consequences for both the economy and the federal budget.’ ” Chris again.We have been writing about the growing debt and deficits for years now, but the story just doesn’t get old as the IOUs just continue to pile up.  As the CBO suggests, we will eventually hit that ‘tipping point’ but even before that we will definitely see dramatic reductions in the amount of funds available for ‘discretionary spending’ as rising interest rates continues to push the cost of servicing all of this debt higher.  It isn’t a pretty picture, but unfortunately it is one which is certain. To recap. The US dollar is stuck in a range as the congressional budget battle has investors wondering where to turn.  European data showed German confidence is at a 6 year high, while Swedish confidence levels dropped.  The New Zealand dollar was the largest loser vs. the US$ after a report showed the trade deficit widened and the globes largest dairy company issued an earnings warning.  The Brazilian real moved higher and the precious metals are largely unchanged. Currencies today 9/25/13. American Style: A$ .9359, kiwi .8218, C$ .9696, euro 1.3504, sterling 1.6033, Swiss $1.0979. European Style: rand 9.8683, krone 6.0194, SEK 6.4259, forint 221.96, zloty 3.1198, koruna 19.153, RUB 31.99, yen 98.44, sing 1.2541, HKD 7.7533, INR 62.42, China 6.1497, pesos 12.9780, BRL 2.1971, Dollar Index 80.424, Oil $103.80, 10-year 2.64%, Silver $21.63, Platinum $1,426.24, Palladium $718.97, and Gold. $1,321.06. That’s it for today. Another absolutely gorgeous evening here in St. Louis and another win for my daughter’s JV field hockey team.  I ran home from her game to watch the Cardinals inch a little closer to wrapping up the division.  Rookie pitcher Michael Wacha (who we got with the compensational pick after losing Pujols) got within one out of throwing a no hitter last night.  What a game!  If any of you were watching it on TV last night you saw both Jack Stapleton and Frank Trotter sitting in the first row behind home plate.  I just love the post season, and if our ‘young arms’ can hold up we could see our Redbirds go deep into the fall again this year.  Chuck will be back in the saddle tomorrow, so this is it for me.  Thanks to everyone for putting up with me the past three days, and I hope you all have a Wonderful Wednesday!! Chris Gaffney, CFA Vice President EverBank World Markets 1-800-926-4922 1-314-647-3837last_img read more

Dear Reader Ill be at the biggest mineral explor

first_imgDear Reader,I’ll be at the biggest mineral exploration conference of the year when this Dispatch is published, which should provide a good update on the state of the industry. More on that soon.For now, I simply want to invite all readers to attend our forthcoming Going Vertical web event. The cast includes true legends in our field. Some of what they’ll have to say will be familiar to subscribers of BIG GOLD and the Casey International Speculator, but the update is timely and important. For those not yet in the loop, the information shared could be vital… transformative.And it’s free, so I encourage one and all to check it out.Meanwhile, BIG GOLD’s Jeff Clark shares some of what the key experts he’s in touch with have to say about our favorite investment class in his article below.I hope you find this and our Going Vertical web event to be more than merely interesting. Our goal is to enable you to attain substantial increases in wealth, health, and happiness in your lives.One more thing: we’re planning some significant upgrades here at Casey Research, including this publication and a new and improved website. Stay tuned for more on this soon, but be advised that we’ll be replacing these Daily Dispatches with what we hope will be a publication more targeted and useful for different readers. We hope you’ll like the improvements and look forward to hearing whatever feedback you may have to help us make our services even better.Sincerely,Louis JamesSenior Metals Investment StrategistCasey Research One Year Ago One Month Ago Gold Producers (GDX)21.2822.9426.67 Rock & Stock StatsLast Gold1,213.801,292.671,331.59 Gold Junior Stocks (GDXJ)26.5730.1043.13 Oil49.5246.47102.75center_img Silver Stocks (SIL)9.7210.9714.69 Gold (SGE)1,215.441,287.261,327.05 TSX (Toronto Stock Exchange)15,234.3414,673.4814,209.59 Copper2.682.593.28 Silver16.6018.0721.29 TSX Venture706.73671.571,014.93last_img read more

Boeing Chevron and Other Huge Companies Are Spending 90 Million on Trumps

first_img Next Article Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. Donald Trump Dan Bobkoff and Danielle Muoio Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Enroll Now for $5 Image credit: Reuters | Jonathan Ernst The Presidential Inaugural Committee has raised at least $90 million — a record — to pay for the festivities and provide big donors some face time with the new administration. Add to Queue 7 min read January 20, 2017 For big-time donors like Boeing and Chevron, the inauguration of President-elect Donald Trump sounds downright romantic.They’ll be treated to an “intimate” dinner with Vice President-elect Mike Pence and his wife. Then there’s the “elegant” meal by candlelight — part of inaugural festivities described by the event’s planner as having a “soft sensuality.”All that and more could be yours if you ponied up at least $250,000 to help fund Friday’s inaugural events, according to a brochure obtained by multiple news outlets.The Presidential Inaugural Committee has raised at least $90 million — a record — to pay for the festivities and provide big donors some face time with the new administration. Donors at the $100,000 level even get a “policy discussion and dinner with select Cabinet appointees.”In addition to the aerospace giant Boeing ($1 million donated) and the oil company Chevron ($500,000), AT&T, Verizon and Coca-Cola are among the big companies helping fund the galas, balls and other pomp and circumstance welcoming Trump to the White House on Friday.Presidents in both parties have long welcomed corporate donors to their inaugurations. What’s different this year is the amount raised — roughly equal to the sum of each of President Barack Obama’s — and a lack of transparency. Trump inaugural officials have broken with recent tradition and declined to release donor information before the event.Critics say this cozy access for corporations and special interests goes against Trump’s campaign rhetoric.”This is very dangerous,” Fred Wertheimer, president of the nonpartisan government-accountability organization Democracy 21, told Business Insider. “It is a form of filling the swamp rather than emptying it, to use the words of the president-elect.”What are they paying for?President Barack Obama bows to Michelle Obama at the Inauguration Ball in 2013.Image credit: Reuters | Kevin LamarqueThe only part of the inauguration mandated by the Constitution is the swearing-in ceremony. And the expense associated with the president-elect standing on the steps of the Capitol and putting his hand on a Bible comes from taxpayers, not donors; it’s managed by a separate congressional planning committee. Likewise, part of the parade down Pennsylvania Avenue is managed by the US military and paid for out of its budget.Everything else, the ad hoc inaugural committee pays for with corporate and other donor support: the concerts, porta-potties and jumbo TV screens. The style and schedule of the inaugural events are entirely up to the incoming administration’s inaugural committee, which can also decide how much contact donors have with the new leaders.”It’s a blank slate,” said Brian Screnar, who was finance director for Obama’s 2009 inaugural committee. “What access can you provide? Tons, or zero. That’s all a choice.”Obama forbade all corporate giving and all donations above $50,000 at his 2009 swearing-in. That changed in 2013 for his second inauguration, when the administration reversed course and welcomed donations from big companies. Corporations like AT&T spent hundreds of thousands of dollars on the event.Screnar told Business Insider that forbidding corporate giving can cause problems for organizers. If a company wanted to host a free concert, for instance, it could be considered an in-kind contribution. And the ban didn’t prevent some CEOs from shaking hands with the president-elect in 2009.”President Bush took it. President Clinton took it. Now President Trump will take it,” Screnar said. “The inauguration is a one-time hit. I don’t think you can get that much access.”But watchdogs say what’s notable this year is the brazenness of the promises of access, like the small discussions with Cabinet nominees for big-ticket donors.”The pay-for-play aspect of this one — special access for special money — is not typical,” Norman Ornstein, resident scholar at the American Enterprise Institute, told Business Insider. “The money for the companies is chump change, and they will have access regardless. But, of course, it gets a little extra special treatment.”Who’s paying?A Boeing 747.Image credit: BoeingThe information we have, such as Boeing’s $1 million gift, comes from voluntary disclosures by the companies themselves. The Presidential Inaugural Committee did not respond to numerous requests for comment.Boeing’s and Chevron’s gifts are among the biggest known. Coca-Cola said this year’s donation will be in line with what it gave in 2013, which was a little over $431,000. Verizon told Business Insider it’s contributing $100,000 to this year’s events. AT&T is also donating but declined to say how much.Boeing is giving the same amount it did in 2013. However, Chevron seems to have dialed back its contribution. Chevron gave $1 million in 2013, according to OpenSecrets, a website that compiles federal campaign contributions and lobbying data.Of course, the companies giving to the inauguration could be significantly affected by the Trump team’s policy proposals — and while that could be said of any business, it’s still difficult for ethics watchdogs to overlook.”There’s a very self-serving reason for funding the inauguration,” said Craig Holman, government affairs lobbyist at Public Citizen, which advocates reducing the influence of big corporations in politics.Boeing’s future, for instance, is heavily dependent on U.S. defense contracts; Trump has threatened to cancel the new Air Force One that Boeing is developing. And his foreign policy could affect Boeing’s ability to sell planes to countries like Iran and China.”What it is, is buying time with the president and Cabinet officials,” Holman told Business Insider.Boeing declined to comment when asked whether its contribution could be seen as “buying access” to government officials. A Chevron spokesperson said the company has long participated in presidential inaugurations and has “worked successfully with 23 different presidential administrations.”TransparencyPresident Clinton takes the oath of office as first lady Hillary Rodham Clinton looks on.Image credit: Reuters | Blake SellWhile donations to presidential campaigns are heavily restricted and regulated, there are virtually no rules on inaugurations. It wasn’t until 2002 that inaugural committees were required to release the names of the companies and individuals that gave more than $200. And they have to release that information 90 days after the ceremony.Obama and former President George W. Bush voluntarily released that data beforehand. Trump’s team has, so far, broken with the tradition.”He’s trying to keep this as secret as he can until he has to file his disclosure requirements,” Holman said.Obama’s inaugural committee raised $55 million in 2009. It had so much left over that it used the surplus to renovate and redecorate the Oval Office and still had several million dollars left over for the second inauguration, Emmett Beliveau, who was CEO of the presidential inaugural committee at the time, told Business Insider.Tom Barrack, the private-equity investor overseeing Trump’s inauguration, has described this year’s event as more low-key, less of a “circus-like celebration.” This raises the question of how the committee — with more than $90 million on hand — will use all that cash, which came in above its goal of raising $65 million to $75 million.”I can’t imagine what you’d spend it on,” Beliveau said. “I have no idea how you could spend nearly twice the budget of the most widely attended inaugural to date,” he said, referring to 2009, which drew nearly 2 million attendees.An inaugural committee spokesman told the Associated Press that excess money would be donated to charity, though he didn’t give specifics.Wertheimer of Democracy 21 said there are no rules governing how the committee uses any surplus funds.”They can put it in people’s pockets and just pay taxes on it,” Wertheimer said.Or there are other options.”We don’t have much gold in the White House, and the incoming president likes his gold,” he said. –shares Reporters This story originally appeared on Business Insider President-elect Donald Trump and wife Melania deliver remarks at a luncheon in Washington. Boeing, Chevron and Other Huge Companies Are Spending $90 Million on Trump’s Inaugurationlast_img read more

ExDrug CEO Martin Shkreli Ordered to Testify on Spike in Drug Pricing

first_img A U.S. congressional committee has demanded that former drug executive Martin Shkreli appear at a hearing on drug prices to testify about his former company’s decision to raise the price of a lifesaving medicine by more than 5,000 percent, congressional aides said on Wednesday.Shkreli, who is separately facing federal criminal charges that he defrauded investors, has been served with a subpoena to appear on Jan. 26 before the U.S. House of Representatives’ Committee on Oversight and Government Reform, the aides said.The Senate’s Special Committee on Aging, which is also investigating the company’s drug pricing practices, said on Wednesday that Shkreli has invoked the U.S. Constitution’s Fifth Amendment against self-incrimination, and has refused to produce subpoenaed documents.Shkreli, 32, fired back at lawmakers on Twitter, writing on Wednesday that the House was “busy whining to healthcare reporters about me appearing for their chit chat next week. Haven’t decided yet. Should I?” He declined an interview request.The outspoken entrepreneur sparked a firestorm last year after he raised the price of Daraprim, a decades-old treatment for a dangerous parasitic infection, to $750 a pill from $13.50 after acquiring it. The medicine once sold for $1 a pill.Shkreli pleaded not guilty last month to criminal charges that he ran his companies like a Ponzi scheme, using each subsequent company to pay off defrauded investors from a prior company.After his arrest, he stepped down as chief executive of Turing Pharmaceuticals and was fired as chief executive of KaloBios Pharmaceuticals Inc. KaloBios also filed for Chapter 11 bankruptcy.Shkreli’s past companies also include Retrophin Inc, which sued him for alleged mismanagement.Testifying before Congress is risky for someone facing criminal charges because of the chance they could say something prosecutors would later use at a trial. For that reason, many such witnesses invoke the Fifth Amendment and refuse to answer questions.To even travel to Washington, Shkreli is required to first get the sign-off of a federal judge because his release on bond restricts him to certain parts of New York state. However, judges typically grant temporary travel waivers to white-collar defendants.U.S. Representative Elijah Cummings of Maryland, the top Democrat on the oversight committee, said the hearing will give Shkreli a chance to explain his views on drug pricing.”I have been trying for the better part of a year to get information from Martin Shkreli about his outrageous price increases, and he has obstructed our investigation at every turn,” Cummings said in a statement.(Reporting by Sarah N. Lynch in Washington and David Ingram in New York, additional reporting by Deena Beasley in Los Angeles; Editing by Jonathan Oatis) Ex-Drug CEO Martin Shkreli Ordered to Testify on Spike in Drug Pricing –shares 3 min read Martin Shkreli (C), chief executive officer of Turing Pharmaceuticals and KaloBios Pharmaceuticals Inc, departs U.S. Federal Court. Next Article Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Reuters Image credit: Reuters | Lucas Jackson | Files Legal January 21, 2016 Add to Queue Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Register Now » This story originally appeared on Reuterslast_img read more

We Tried This Vegan Startups Taco Meal Delivery Kit Heres What We

first_img 3 min read Next Article Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Opinions expressed by Entrepreneur contributors are their own. –shares Delivery Register Now » Image credit: Chef’d | Instagramcenter_img January 22, 2016 Beyond Meat makes vegan food, including “chicken” strips and ground “beef.” According to the company, these products don’t belong in the imitation meat category, too often characterized by chewy blandness. Instead, as founder and CEO Ethan Brown told us in November, the goal is to create plant proteins that, on a molecular level, taste virtually indistinguishable from the juicy, fatty goodness of real meat.While Brown’s campaign to get his products placed behind the meat counter at supermarkets hasn’t panned out yet, Beyond Meat items are sold at more than 10,000 stores nationwide. Since launching in 2009, the company has raised $17 million in funding and attracted a high-profile list of investors including Biz Stone, Bill Gates and the venture capital firm Kleiner, Perkins, Caufield and Byers.This past November, the company teamed up with meal-delivery startup Chef’d to bring its products, plus all the additional ingredients necessary to cook a full meal, directly to consumers’ doors.Related: McDonald’s Ex-CEO Will Help Sell You Vegan BurgersOf the two available options — a barbeque kit and a taco box — we choose the latter.Did it taste like real ground beef, or a chewy, vegan crumble? Here’s how things panned out.The meal kit costs $28 for a two-person serving and $37 for a four-person serving, plus a $10 shipping fee. Delivery is available as soon as one to two days after placing an order.Our order arrived in an enormous, insulated orange box (which, for a company whose message revolves around sustainability, is slightly problematic, though Blue Apron and Plated are in the same boat).Image Credit: Laura EntisAll of the ingredients were inside. In addition to a package of Beyond Meat’s beef crumbles, the box included: lime, garlic cloves, shallots, tomato paste, vegan cheddar cheese, red chili flakes, various spices, lettuce, avocados, onions, corn tortillas, chipotle sauce, cilantro and black beans.After cutting the onion, shallots, cilantro and garlic, it was time to make the guacamole. First, we juiced the limes.Next, we cut up the avocados and mashed them in a bowl, adding the lime juice, chopped shallots, chili flakes and cilantro.Image Credit: Laura EntisImage Credit: Laura EntisImage Credit: Laura EntisRelated: Why Wendy’s and McDonald’s Still Don’t Have Veggie BurgersWhile the beans simmered over medium heat in a separate saucepan, we sauteed the garlic and onions, adding the tomato paste and the Beyond Meat crumble. Cooking the “beef” itself was slightly disquieting. It looked like meat, but it didn’t smell like meat. And it certainly didn’t sizzle like real meat — instead, the sauteeing process was eerily quiet.Image Credit: Laura EntisAfter heating the tortillas in a pan, it was time to assemble the tacos. We topped each one with the “meat” crumble, guacamole, shredded lettuce, beans and vegan cheddar cheese.The estimated cooking time was 40 minutes, but altogether it took closer to an hour.Image Credit: Laura EntisOut of curiosity, we heated up some of the “beef” crumble alone in a separate pan. Without the sauce and spice, it was unlike meat in both texture and flavor. While it worked in the taco, Beyond Meat has a ways to go before its products compare to meat dishes without the help of spices and sauces.That said, the tacos made for a tasty and satisfying meal.Image Credit: Laura EntisRelated: We Tested Chipotle and McDonald’s New Delivery Services. Here’s What Happened. Add to Queue Guest Writer Laura Entis We Tried This Vegan Startup’s Taco Meal Delivery Kit. Here’s What We Thought. Chef’d fiesty tacoslast_img read more

Obama Administration Rolls Out Rules on Paid Sick Leave Pay Data

first_img September 30, 2016 Reuters 2 min read Free Webinar | July 31: Secrets to Running a Successful Family Business Federal Government Add to Queue Learn how to successfully navigate family business dynamics and build businesses that excel. U.S. President Barack Obama U.S. Labor Secretary Thomas Perez told reporters in a phone call that the sick leave rule would directly affect more than 1.1 million workers.center_img Image credit: Emmanuele Contini | Shutterstock Register Now » The Obama administration on Thursday finalized rules requiring federal contractors to provide paid sick leave to employees and expanding the type of data employers must provide on their pay practices.U.S. Labor Secretary Thomas Perez told reporters in a phone call that the sick leave rule would directly affect more than 1.1 million workers. Effective Jan. 1, it will require companies working on federal contracts to provide up to seven days of earned leave.”You shouldn’t have to win the boss lottery or the geographic lottery to have access to paid sick leave,” Perez said, noting that the rule would help businesses by decreasing turnover and ensuring sick employees don’t show up for work.Meanwhile, the Equal Employment Opportunity Commission (EEOC), which enforces federal employment discrimination laws, released the final version of a new reporting form requiring employers with 100 or more employees to annually disclose aggregated pay data. The information must be broken down according to the gender, race and ethnicity of employees.EEOC Chair Jenny Yang said on the call that the new reporting requirements would make it easier for the agency to root out discriminatory pay practices.Business groups, however, say analyzing pay data is complicated, and the new information employers must disclose will do little to help the EEOC while opening companies up to more discrimination claims.The same groups and many Republicans in Congress say the sick leave rule could discourage many employers, particularly small businesses, from seeking federal contracts.(Reporting by Daniel Wiessner in Albany, New York, Editing by Alexia Garamfalvi and David Gregorio) –shares Next Article Obama Administration Rolls Out Rules on Paid Sick Leave, Pay Data Opinions expressed by Entrepreneur contributors are their own.last_img read more

Alibaba Singles Day Sales Pass 2015 Total But Growth Rate Slows

first_img Learn how to successfully navigate family business dynamics and build businesses that excel. –shares Sales on Alibaba’s platforms had raced to a billion dollars in under five minutes and within the first 60 minutes had passed $5 billion. Next Article November 11, 2016 Free Webinar | July 31: Secrets to Running a Successful Family Business This story originally appeared on Reuters 4 min readcenter_img Alibaba Singles’ Day Sales Pass 2015 Total, But Growth Rate Slows Reuters Register Now » Add to Queue Sales Alibaba Group Holding Ltd.’s Singles’ Day sales surged past last year’s 91.2 billion yuan ($13.36 billion) total with nearly nine hours left on the clock, but growth was markedly slower than in 2015 as shoppers sought even bigger price cuts.Amid fanfare and celebrity razzmatazz, sales on Alibaba’s platforms had raced to a billion dollars in under five minutes and within the first 60 minutes had passed $5 billion — a third faster than 2015 as the ecommerce giant looked to shrug off a domestic economic slowdown and a U.S. accounting probe.The 24-hour event held annually on Nov. 11 offers a benchmark for Alibaba’s performance and an insight into China’s swing to online shopping, especially via smartphones. Launched in 2009, Alibaba’s version of the event was designed to encourage consumers without a partner to treat themselves.Sales growth was down from last year’s 60 percent amid a more saturated domestic online retail market, a weaker economy and sluggish personal income growth. A strong U.S. dollar also hit the headline sales figure in dollar terms.The discount shopping day, also known as “Double 11,” still shifts more goods than Black Friday and Cyber Monday in the United States combined. Sales on Alibaba platforms, including Tmall and Taobao, are tipped to exceed $20 billion this year.”Back in 2013, 35 billion yuan ($5.14 billion) was our one-day GMV (gross merchandise volume),” said Chief Executive Officer Daniel Zhang in a live microblog posting on Alibaba’s event. “Now we can achieve it in one hour.”Image credit: Reuters | Bobby YipGMV refers to the value of goods sold by vendors through Alibaba’s platforms. Alibaba makes money through advertising and charging vendors a proportion of their sales.Mobile shopping surgeAfter a beefed-up marketing push over the last month — with fashion shows and virtual reality games — sales officially opened at midnight, releasing a wave of pre-orders that shoppers had placed ahead of the event. Sports stars David Beckham and Kobe Bryant attended the countdown, though headline act Katy Perry pulled out last minute citing a “family” issue.At 15:19 p.m. (07:19 GMT) a live sales tracker at Alibaba’s main event in the southern Chinese city of Shenzhen passed the 2015 yuan total, ensuring the day will set a new record but, in dollar terms, was still short of 2015’s $14.3 billion.The rise of Singles’ Day reflects how China’s consumers, armed with smartphones, are racing online to shop — to the detriment of bricks and mortar stores. So far on Friday, 83 percent of sales were via mobile devices, up strongly from last year, Alibaba said.The day itself is a double-edged sword for many: Couriers, packaging firms and vendors say low prices and steep competition mean profit margins are slim despite large sales volumes.Cut-throat competition for customers has also caused concern over false advertising and massaged statistics. This week China’s business regulator advised mainland online shopping platforms to guard against suspect sales tactics.In May this year, Alibaba said the U.S. Securities and Exchange Commission (SEC) was looking into how it reports its Single’s Day figures. Alibaba said at the time it was cooperating with the authorities, and that the SEC advised it the investigation should not be seen as an indication the company had violated federal securities laws.Alibaba declined to comment on the SEC probe on Friday.Alibaba is not the only retailer to mark Nov. 11 with a massive sales drive. China’s number-two ecommerce player JD.com Inc. and many others also offer discount deals on the day.(Reporting by Cate Cadell and Xihao Jiang; Writing by Adam Jourdan; Editing by Kenneth Maxwell and Christopher Cushing)last_img read more

SynergySuite Closes 6 Million Series A Led by First Analysis

first_imgUtah-based restaurant management platform SynergySuite invests in sales, marketing and expanded U.S. presence; also names a new CEO.SynergySuite, the leading all-in-one, cloud-based restaurant management platform, announced $6 million in Series A funding to accelerate growth in the U.S. market and continue product innovation, and named Greg Staley as CEO. The financing round was led by First Analysis, a Chicago-based venture capital firm, with participation from Irish private equity firm Oyster Capital. A veteran sales and marketing leader with deep SaaS experience, Staley’s focus will be on building SynergySuite’s position in the marketplace, and ensuring the product continues to respond to the challenges enterprise restaurants face.Recommended:MarTech Interview with Ajay Gupta, CEO at StiristaSynergySuite helps multi-unit restaurants simplify operations and increase profitability with an easy-to-use restaurant management software. Businesses have the insights and tools they need to run the back office—all in one place with SynergySuite.Global brands trust SynergySuite’s mobile first software with inventory, purchasing, recipe costing, food safety, scheduling, cash management, human resources and business intelligence. “Restaurants are dealing with an increasing number of challenges to profitability, and SynergySuite is well positioned to answer the needs of restaurant operations teams,” said Jim Macdonald, managing director at First Analysis.Jim added, “Our investment in SynergySuite is rooted in our confidence that they are well positioned to disrupt this industry, providing restaurants with the visibility and automation they need to optimize operations.”With the new funding, SynergySuite will drive continued customer growth by expanding sales, marketing, implementation and client success. SynergySuite’s powerful back-of-house platform has experienced exponential growth in the last two years by giving restaurants the tools they need to see what’s happening in every location and optimize food and labor costs.Read Also: Everything You Need to Know About WordPress and Database“This funding will allow us to continue growing the best purpose-built back-of-house platform on the market. Restaurants are selecting SynergySuite because we offer the most comprehensive and powerful restaurant management product, paired with a world-class support team, and I’m looking forward to continuing our success,” CEO Staley said.SynergySuite co-founder Niall Keane will serve as chairman and chief strategy officer, where he will guide continued product development aligned with the company’s technology roadmap.“SynergySuite was founded because I saw first-hand how frustrating it was to manage restaurant operations with piecemeal technology solutions. I’m excited to focus on continuing to build an innovative system that makes it easier for restaurant brands to be successful and profitable,” Keane said.Currently, First Analysis is a leading venture capital investor, having invested more than $780 million over four decades. With its integrative research process, it aims to invest in the best, established rapid-growth companies in the targeted sectors where it is an acknowledged expert.Read More: CONCURED Named a Cool Vendor in Gartner’s 2019 ‘Cool Vendors … SynergySuite Closes $6 Million Series A Led by First Analysis Sudipto GhoshJuly 11, 2019, 8:18 pmJuly 11, 2019 First AnalysisfundingNewsOyster Capitalrestaurant managementSaasSynergySuiteTechnology Previous ArticleAd Fraud to Cost North American Advertisers $100 Million a Day by 2023Next ArticleNextStage to Support YSEOP, a World Leader in AI Dedicated to Natural Language Generation, in View to Accelerating Growth, Particularly in the United Stateslast_img read more

New guidelines on clinical use of lifesaving antibiotics

first_imgReviewed by James Ives, M.Psych. (Editor)Mar 11 2019An international panel of the foremost researchers on infectious disease and antimicrobials has formed new guidelines on the use of polymyxins, a class of antibiotics employed as a last resort to treat deadly, drug-resistant bacteria.The guidelines, published last month in Pharmacotherapy, set new standards for the clinical use of polymyxins, including on maximum dosage, treatment strategies and best practice for use in combination with other antibiotics.The recommendations have been endorsed worldwide by six international societies and organizations across the globe: American College of Clinical Pharmacy, European Society of Clinical Microbiology and Infectious Diseases, Infectious Diseases Society of America, International Society for Anti-infective Pharmacology, Society of Critical Care Medicine and Society of Infectious Diseases Pharmacists.The expert panel was co-led by Brian Tsuji, PharmD, professor of pharmacy practice in the University at Buffalo School of Pharmacy and Pharmaceutical Sciences; Jason Pogue, PharmD, clinical pharmacist specialist at the Detroit Medical Center; and Keith Kaye, MD, professor of infectious disease and internal medicine in the University of Michigan Medical School.”There is considerable confusion on how to optimally use the polymyxin antibiotics,” said Tsuji.”These guidelines represent consensus recommendations from expert clinicians and scientists around the globe to guide polymyxin therapy in Gram-negative infections where no treatments appear to exist.”First introduced in the 1950s, polymyxins are an older generation of antibiotics that fell out of favor due to their toxicity to the kidneys. However, the drug was recently resurrected by researchers and clinicians to aid in the fight against increasingly antibiotic-resistant bacteria, more commonly known as superbugs.But while polymyxins have made a comeback, the clinical standards that guide its use are outdated. Variations in conventions used to describe doses, differing formulations and dated product information have led to confusion on how to best use and dose the drug.Related StoriesMultifaceted intervention for acute respiratory infection improves antibiotic-prescribingPlant foods may transmit antibiotic-resistant superbugs to humansAntibiotic susceptibility pattern of Enterobacteriaceae found in GhanaThe recent publication provides clinicians with 34 recommendations for using polymyxin B and colistin – also known as polymyxin E. Highlights from the paper include: The panel recommended several areas of research needed in the future, including studies that compare the effectiveness and toxicity of polymyxin B and colistin, investigate biomarkers that rapidly respond to kidney damage to better detect the adverse effects of polymyxins, weigh the risks and benefits of curing infection at the expense of kidney damage, and measure the effectiveness of various combination therapies. The maximum tolerable dosage of polymyxin B and colistin is set at two milligrams per liter. Polymyxin B is preferred for routine systemic use against invasive infections, while colistin is preferred for the treatment of lower urinary tract infections and for delivery to the heart, brain and spinal canal. Patients receiving polymyxins should avoid agents that are toxic to the kidneys, such as nonsteroidal anti-inflammatory drugs (common pain relievers that include aspirin and ibuprofen) and angiotensin-converting-enzyme inhibitors (drugs used primarily to treat hypertension and congestive heart failure). To reduce confusion over labeling conventions used in different parts of the world, hospitals and prescription orders should specify doses of colistin in either international units (IU) or milligrams of colistin base activity (CBA). In the treatment of the superbugs carbapenem-resistant P. aeruginosa (CRPA) and carbapenem-resistant Enterobacteriaceae (CRE), polymyxins should be used in combination with one or more antibiotics, ideally a drug the bacteria is susceptible to. In the treatment of the superbug carbapenem-resistant A. baumannii (CRAB), polymyxins should only be used in combination with an antibiotic that the bacteria is susceptible to. If no such drug is available, the polymyxin should be delivered alone.center_img Source:http://www.buffalo.edu/news/releases/2019/03/010.htmllast_img read more