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What We Read Today 14 July 2015

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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  • Articles about events, conflicts and disease around the world

U.S.

EU

Germany

Greece

  • Greece debt crisis: Greek PM defends 'harsh' deal (BBC News)  Greek Prime Minister Alexis Tsipras says he does not believe in a bailout offered by eurozone leaders - but is willing to implement it.  Mr Tsipras described the deal as "harsh", but said it was the only way for Greece to remain in the euro.

Iran

Israel has long been concerned that the “P5+1” powers would negotiate a bad deal with Iran. But the deal announced today in Vienna is breathtaking in its concessions to an Iranian regime that is the foremost sponsor of terror in the world, is on a march of conquest in the Middle East, is responsible for the murder and maiming of thousands of U.S. soldiers, and vows and works to annihilate the one and only Jewish state. 

Russia

  • Putin likes the Iran deal (Business Insider)  The oppotunities for trade will overcome the increased competition from Iranian oil.

India

  • India stampede 'kills 27 pilgrims' in Andhra Pradesh (BBC News)  At least 27 pilgrims have died in a stampede on the banks of a holy river in the southern Indian state of Andhra Pradesh. The Hindu pilgrims had gathered to take a dip in the Godavari river at the start of the Maha Pushkaralu festival.

Natural gas tops coal as top source of electricity in US (CNBC)  King Coa has been dethroned.  Call it a one-two punch against coal. As global demand for U.S. coal exports continues to sag, domestic demand at power plants has been sliding as well.  For the first time ever, natural gas trumped coal as the top source of electric power generation in the U.S. In April, roughly 31 percent of electric power generation came from natural gas, whereas coal accounted for 30 percent, according to a recent SNL Energy report.  It's a dramatic difference from April 2010, when coal accounted for 44 percent of the mix and natural gas just 22 percent.


Scaling Greece's debt mountain (Reuters)  The European Central Bank's decision to support Greece's shuttered banks by keeping its emergency funding line open has given the country's lawmakers a few days to seal reforms for an aid deal to keep it in the euro. But as Sonia Legg reports Greece has a financial mountain to climb.

Click to watch video.
greece.unsustainable

Other Economics and Business Items of Note and Miscellanea

  • Smart Strategies for Tax-Free Roth IRA Conversions (Financial Planning)  Undere certain circumstances 401(k) plans can be used to convert to a Roth IRA after-tax contributions to the plan directly or to a traditional IRA which can be rolled over into the plan.  New IRS rulings in 2014 clarified what is allowed.  
  • See Pictures of Pluto Get More Amazing Through Time (National Geographic)  Since its discovery in 1930 to this week's spacecraft flyby, pictures of Pluto have evolved from faint dots to crisp, stunning portraits.  Below is one from the 15 image slide show in this article.  The heart shaped surface feature is a possible indication of "weather" shaping the surface of the dwarf planet.

pluto.heart


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