Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
Earth on track for hottest year ever as warming speeds up (Reuters) The earth is on track for its hottest year on record and warming at a faster rate than expected, the World Meteorological Organization (WMO) said on Thursday. Temperatures recorded mainly in the northern hemisphere in the first six months of the year, coupled with an early and fast Arctic sea ice melt and "new highs" in heat-trapping carbon dioxide levels, point to quickening climate change, it said. June marked the 14th straight month of record heat, the United Nations agency said. It called for speedy implementation of a global pact reached in Paris last December to limit climate change by shifting from fossil fuels to green energy by 2100. The average temperature in the first six months of 2016 was 1.3° Celsius (2.4° Fahrenheit) warmer than the pre-industrial era of the late 19th Century, according to space agency NASA. David Carlson, director of the WMO's Climate Research Program, told a news briefing:
"What we've seen so far for the first six months of 2016 is really quite alarming. This year suggests that the planet can warm up faster than we expected in a much shorter time... We don't have as much time as we thought."
Trump accepts Republican nomination, vows to put 'America first' (Reuters) Donald Trump accused Democratic rival Hillary Clinton of a legacy of "death, destruction, terrorism and weakness" as U.S. secretary of state and vowed to be tough on crime and illegal immigrants in a speech on Thursday accepting the Republican presidential nomination. Trump's speech of more than an hour was designed to set the tone for the general election campaign against Clinton, an answer to Republicans who say the best way he can unify the divided party is to detail why the Democrat should not be elected on Nov. 8. As the crowd chanted: "Lock her up" for her handling of U.S. foreign policy, Trump waved them off and said: "Let's defeat her in November." Thousands of supporters who were gathered in the convention hall roared their approval.
Trump Vs. Clinton: Whose Economic Plan Is Best For U.S.? (Financial Advisor) Lindsey Piegza, chief economist at Stifel Nicolaus, examines the economic plans of Donald Trump and Hillary Clinton and how they could impact the U.S. economy. The commentary seems to favor Donald Trump in the analyst's estimation. (But she hedges with a lot of caveats.)
Exclusive: White House to review ban on military gear for police - police leaders (Reuters) The White House will revisit a 2015 ban on police forces getting riot gear, armored vehicles and other military-grade equipment from the U.S. armed forces, two police organization directors told Reuters on Thursday. Shortly after the recent shooting deaths of police officers, President Barack Obama agreed to review each banned item, the two law enforcement leaders said. That could result in changes to the ban imposed in May 2015 on the transfer of some equipment from the military to police, said Jim Pasco, executive director of the Fraternal Order of Police, and Bill Johnson, executive director of the National Association of Police Organizations.
Why Doesn't Your Company Want You to Put More in Your 401(k)? (Bloomberg) American corporations are getting less enthusiastic about encouraging employees to save for retirement. The reason? It costs the companies money. By getting more workers to increase contributions to their 401(k), that potentially raises the amount needed for matching contributions. So programs like auto-enrollment with employee opt-out and auto-escalation of contributions in future years have not been growing, and even shrinking slightly from peak years.
Russia Warned Turkish Government About Imminent Coup - Reports (The Moscow Times) Russian intelligence provided the Turkish government with intercepted information about preparations for a military coup before the coup began, the Iranian Fars news agency reported Wednesday, citing diplomatic sources in Ankara. Fars' sources claim that Russian military representatives intercepted coded radiograms containing information about preparations for a coup, which were then shared with the Turkish military.
Wahhabi Saudi Arabia and the Disappearing of Islam's Heritage (The Duran) Hat tips to Tom Hickey and Roger Erickson. Born in the desert of Nejd in the 18th century - an unwelcoming stretch of land which for centuries has echoed from the war cries of looters and tribal warlords, Wahhabism came into the world courtesy of one self-professed Islamic erudite: Muhammad ibn Abdul-Wahhab. This author says of the religious sect of the Saudi Arabia royal family and the dominant faith of that country:
An ascetic, violent and reactionary faith, Wahhabism is not just anchored in bloodshed, it has been weaved around hate, bred on exclusion, and grown on ignorant bigotry.
If ever there was an antithesis of Islam, Wahhabism would most certainly qualify to that title.
But enough already on this individual ... although we have to admit that it is his poisonous thoughts which continue to darken our skies, by allowing powers to wage "holy wars".
But that you may argue is an Islamic problem, and it has little to do with the rest of the world.
I beg to differ! Radicalism, and most specifically Wahhabism is all our problem.
Why? Because Wahhabism is not playing out in a far, far away land, it is quite literally being featured at a cinema near you. You might not see it yet, you might not be aware that it is there yet, but Wahhabism is most definitely attempting to break into Society' subconscious - a well-rehearsed doctrine.
You might know Wahhabism under a different name - that of Islamic radicalism.
The Court of Arbitration of Sport in Lausanne has as I predicted upheld the collective ban prohibiting Russian track and field athletes from participating in the Rio Olympic Games. As I said before, the timing of the WADA report and of the conduct of the IOC and of other Western sports organizations, together with the failure of the Western media to report the court case, all pointed clearly to the outcome of the case in Lausanne being a foregone conclusion, and moreover to those who are pressing the campaign for the banning of Russian athletes knowing it.
Exclusive: Possible early North Korean nuclear site found - report (Reuters) A U.S. policy institute said it may have located a secret facility used by North Korea in the early stages of building its program to enrich uranium for nuclear weapons, which if confirmed would be critical to the success of any future nuclear deal, according to a report seen by Reuters on Thursday. The report by the Institute for Science and International Security said there has always been doubt about whether North Korea has disclosed all of its nuclear facilities. Confirming their location would be critical to the success of any future agreement to freeze and dismantle North Korea's nuclear weapons program, it said.
Chinese Companies are Turning Japanese (Bloomberg) Chinese companies are swimming in cheap cash. Problem is, they're not spending it. A reluctance to invest is frustrating policy makers after they unleashed a wave of cheap credit in an effort to stoke growth. Rather than build new plants or hire additional staff, corporates are opting to park money at the bank - or send it overseas through buying foreign assets. Known as the so called "liquidity trap", it's a problem not unlike the experience in Japan where weak business confidence and a reluctance to invest is also holding back the economy.
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