US indexes closed higher today, (SPY + 0.6%) led by big tech names, building on gains from yesterday that were fueled by the Fed's decision to stand pat on interest rates. Crude prices slightly off session highs ahead of OPEC decision-making oil ministers next week, gold lost half of today's gains while the US dollar climbed off 2 week lows.
WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits unexpectedly fell last week to a two-month low, pointing to labor market strength that could pave the way for the Federal Reserve to raise interest rates by December.
WASHINGTON (Reuters) - Eight U.S. Democratic senators asked the Labor Department on Thursday to launch a probe into whether Wells Fargo may have violated wage and working hour laws by failing to pay overtime to tellers and sales representatives who worked late to meet sales quotas.
(Reuters) - The commercial aircraft unit of Airbus Group SE is confident in plans from engine maker Pratt & Whitney to solve production delays for its next-generation single-aisle planes, the A320neo, Chief Operating Officer for Customers John Leahy said Thursday.
WASHINGTON (Reuters) - Siemens Corp and Siemens Medical Solutions, units of Siemens AG , have agreed to pay a $175,000 fine for failing to disclose corporate felony convictions to the Federal Communications Commission, the agency said on Thursday.
With both a state of emergency implemented and the national guard deployed in Charlotte overnight following a second night of rioting, there was hope the mood in the city tonight would be less violent. That however, may prove optimistic now that the Charlotte police announced they do not plan - for now - to release a video showing the fatal shooting of Keith Scott by officers, and which that has sparked two nights of violent protests in North Carolina's largest city, the department's chief said on Thursday.
The video will only be shown to the family of Keith Scott, 43, who was shot dead by a black police officer in the parking lot of an apartment complex on Tuesday afternoon, Charlotte-Mecklenburg Police Chief Kerr Putney said.
The reason the video is relevant is because many of the protesters dispute the official account of Scott's death. Police contend he was carrying a gun when he approached officers and ignored repeated orders to drop it. His family and a witness say he was holding a book, not a firearm, when he was killed. "I'm not going to release the video right now," Putney told reporters, the morning after nine people were injured and 44 arrested in riots over Scott's killing.
As Reuters notes, Charlotte's reluctance to release the video stands in contrast to Oklahoma, where officials on Monday released footage of the fatal shooting of Terence Crutcher by police after his vehicle broke down on a highway. That shooting is now the subject of a U.S. Department of Justice probe.
One potential reason for the unwillingness to play the video is that according to Putney, while the video supports the police account of what happened, it "does not definitively show Scott pointing a gun at officers."
As such, presenting the video would likely lead to further protests, state of emergency notwithstanding, and may have boiled over into violence and looting for y ...
Submitted by Charles Hugh-Smith via OfTwoMinds blog,
Without the stimulus of ever-rising credit, the global economy craters in a self-reinforcing cycle of defaults, deleveraging and collapsing debt-based consumption.
In an economy based on borrowing, i.e. credit a.k.a. debt, loan defaults and deleveraging (reducing leverage and debt loads) matter. Consider this chart of total credit in the U.S. Note that the relatively tiny decline in total credit in 2008 caused by subprime mortgage defaults (a.k.a. deleveraging) very nearly collapsed not just the U.S. financial system but the entire global financial system.
Every credit boom is followed by a credit bust, as uncreditworthy borrowers and highly leveraged speculators inevitably default. Homeowners with 3% down payment mortgages default when one wage earner loses their job, companies that are sliding into bankruptcy default on their bonds, and so on. This is the normal healthy credit cycle.
Bad debt is like dead wood piling up in the forest. Eventually it starts choking off new growth, and Nature's solution is a conflagration--a raging forest fire that turns all the dead wood into ash. The fire of defaults and deleveraging is the only way to open up new areas for future growth.
Unfortunately, central banks have attempted to outlaw the healthy credit cycle. In effect, central banks have piled up dead wood (debt that will never be paid back) to the tops of the trees, and this is one fundamental reason why global growth is stagnant.
The central banks put out the default/deleveraging forest fire in 2008 with a tsunami of cheap new credit. Central banks c ...
With The White House desperately calling for "peaceful protest" in Charlotte, the Justice Department urging "peaceful protest" and the need to "build trust," and Hillary Clinton asking for "peace" saying the deaths of black men is "unbearable," the Democrat public relations machine is in full swing as riots continue. Donald Trump, however, took a different angle. As opposed to clinging to politically correct and meaningless one-liners, Trump pointed the finger for this turmoil at President Obama (and Hillary) exclaiming: "You look at the level of hatred... the rocks being thrown and everything happening. It's so sad to see. You know, this is the United States of America. I mean... it starts with leadership."
"I mean, it's a terrible thing that we're witnessing. You're seeing it. I'm seeing it, and you look at what went on last night in Charlotte — a great place — and you just see it."
As Politico reports, Donald Trump on Thursday subtly pinned the blame for the turmoil in Charlotte, North Carolina, on President Barack Obama, suggesting that the violent protests there highlight a racial divide in America that Obama has failed to mend as president.
Watch the latest video at video.foxnews.com
"It just seems that there's a lack of spirit between the white and the black," Trump said Thursday during a phone interview with "F ...
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