GRAND RAPIDS, Mich./WASHINGTON (Reuters) - When President-elect Donald Trump returns to this factory town on Friday for a victory celebration, he will find a region that is already experiencing the manufacturing renaissance he promised on the campaign trail.
FRANKFURT (Reuters) - German semiconductor chipmaking machinery company Aixtron is considering reducing the size of the business with a partial sale, its chief executive said in an interview published on Friday, opening the door for bidders after a deal with a Chinese firm collapsed.
MOSCOW (Reuters) - Russia plans to meet with some OPEC and non-OPEC nations on Friday to discuss unresolved issues related to a planned oil-output cut before wider talks the following day in Vienna, a Russian government source told Reuters.
MILAN (Reuters) - The European Central Bank has rejected a request by ailing Italian lender Monte dei Paschi di Siena for more time to raise capital, a source said on Friday, in a move that piles pressure on the Italian government to bail out the bank.
SINGAPORE/TOKYO/DUBAI (Reuters) - Saudi Arabia has told its U.S. and European customers it will reduce oil deliveries from January as Russia signaled that a commitment from non-OPEC producers to join OPEC's output limits still faced challenges.
BRUSSELS (Reuters) - The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, a case Beijing said it viewed with deep concern.
PARIS (Reuters) - Pernod Ricard , the world's second-largest spirits group, has agreed to buy a majority stake in Smooth Ambler Spirits, the U.S. maker of Old Scout bourbon and Greenbrier gin, further strengthening its portfolio of premium craft spirits.
TOKYO (Reuters) - Principal Global Investors has upgraded its view on the U.S. economy and equities as it sees higher growth because of likely tax cuts and increased fiscal spending from the incoming U.S. administration, its chief executive officer said on Friday.
Submitted by Charles Hugh-Smith via OfTwoMinds blog,
Sorry, U.S. Census Bureau, I.R.S. and St. Louis Federal Reserve - you're issuing "Russian propaganda" according to The Washington Post's shoddy "fake news" methodology.
In case you missed it, The Washington Post's criminally careless publishing of "fake news" about purported "Russian propaganda" created a backlash--and the Post's attorney-approved bleating to sidestep responsibility for publishing "fake news" failed to calm the waters.
Here's The Washington Post's "fake news" article in case you missed it: Russian propaganda effort helped spread 'fake news' during election, experts say.
The "experts" claims of expertise were not validated or investigated by the Post, and the Post prominently linked to a list of 200 websites (oftwominds.com among them) that purportedly "wittingly or unwittingly" promoted "Russian propaganda"--but The Washington Post did zero journalistic work to investigate the list or the anonymous "experts" that published it.
Since the list is bogus, the entire story qualifies as "fake news"--exactly what the Post claims to be investigating. Talk about irony....
This criminally sloppy publishing of "fake news" isn't journalism--it's propaganda. No amount of slippery legalese can erase the fact that The Washington Post published a "fake news" story and featured it prominently on page ...
Earlier this week, we reported that according to the FT, a suddenly empowered Rome was demanding that the ECB give it more time to rescue Italy's Monte Paschi show private bailout effort has effectively failed. What is surprising is that Italy was "preparing to blame the bank for losses imposed on bondholders if Rome is forced into an urgent state bailout", a negotiating tactic we dubbed at the time blackmail.
The board of MPS, which has the Italian Treasury as its largest shareholder, was asking the supervisory arm of the European Central Bank to give it until mid-January to pull off a 5bn equity injection and try to avoid forcing losses on some debtholders as required under new EU bailout rules. And this is where the blackmail came in: cited by the FT, a person involved in the negotiations warned that "If they don't give the extension, the ECB must take responsibility. They will be pushing the button. We are only asking for five more weeks."
According to Reuters, as of moments ago the ECB has called Italy's bluff, and the central bank "has rejected a request by ailing Italian lender Monte dei Paschi di Siena for more time to raise capital, a source said on Friday, in a move that piles pressure on the Italian government to bail out the bank."
The ECB's supervisory board turned down the request at a meeting on Friday on the grounds that a delay would be of little use and that it was time for Rome to step in, the source said.
The news follows an earlier report according to which the head of the euro zone bailout fund said it was not preparing financial support for Italy though some individual Italian banks have problems and need to raise capital, the head of t ...
ECB 'Bazooka' Extended - Will Buy EUR 60 Billion Per Month Until At Least December 2017
The ECB's 'Bazooka' is back and 'Super Mario', the European Central Bank's monetary magician did not disappoint QE addicted markets yesterday by extending ultra loose monetary policies and quantitative easing until at least December 2017.
The euro fell and gold rose 1.1% in euro terms from 1,090/oz to 1,102.85. Stocks globally moved higher, and European stocks look set for their best week since February, supported by the extended ECB currency printing and a calm, some would say complacent and irrationally exuberant, reaction to the Italian referendum.
Despite the recent sell off in gold, it remains 13% higher in euro terms in 2016 - 10% higher in dollars and 30% higher in pounds.
Week 48 of 2016 shows same week total rail traffic (from same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. Long term rolling averages remain in contraction - but the 4 week rolling average remains in positive territory.
Brexit minister David Davis stands firm he won't bow into pressure from London's financial elite about a "transitional" Brexit period, but will only consider such a move if the request comes from the EU itself.
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