Archive for the 'Economy' Category
EMERGENCY EU MEETING: POSSIBILITY OF GREEK DEFAULT
July 12th, 2011Via: Reuters: European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens’ debts and stop contagion to Italy and Spain. “There will be an extra summit this Friday,” a senior euro zone diplomat told Reuters, […]
JP Morgan Uses Field-Programmable Gate Array Supercomputer to Cut Credit Risk Analysis from 8 Hours to 12 Seconds
July 12th, 2011Via: ComputerworldUK: JP Morgan is now able to run risk analysis and price its global credit portfolio in near real-time after implementing application-led, High Performance Computing (HPC) capabilities developed by Maxeler Technologies. The investment bank worked with HPC solutions provider Maxeler Technologies to develop an application-led, HPC system based on Field-Programmable Gate Array (FPGA) technology […]
Recovery: Cisco to Cut as Many as 10,000 Jobs
July 12th, 2011Via: Bloomberg: Cisco Systems Inc. (CSCO), the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, according to two people familiar with the plans. The cuts include as many as 7,000 jobs that would be eliminated by the end of August, said the […]
Greek Budget Gap Widens, Widely Misses Target Set Under Bailout Plan
July 11th, 2011Via: Reuters: A deeper-than-expected recession caused Greece’s central government deficit to widen by almost one third in the first half of the year, widely missing an interim budget target under the country’s bailout plan, the finance ministry said on Monday. Budget slippages amid the recession caused the government last month to agree even harsher austerity […]
Dollar
July 11th, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument. Ok, the trouble in Europe caused a big move higher on the dollar. As a result, this bearish triangle is failing. A positive candle close above that top triangle line sets up 76.366. If it takes out 76.366, the bastard could […]
Italy Leads Surge in Sovereign Debt Risk to Record on Contagion
July 11th, 2011Via: Bloomberg: The cost of insuring against default on Italian government debt surged to a record, leading an increase in a gauge of European sovereign debt risk to an all- time high on concern the region’s crisis is spreading. Credit-default swaps on Italy surged 32 basis points to 283, according to CMA prices at 12:30 […]
Large Banks Responsible for Mortgage Disaster Might Be Able to Buy Immunity for $30 Billion
July 11th, 2011*meh* Pocket lint. Hell, why bother spending any money on a settlement? If nobody from Lehman went down—fuggetaboutit. Although, it might be worth it since I doubt anyone actually knows how that fraud soaked debt might metastasize in the future. Via: Huffington Post: State and federal prosecutors are pressing to complete a proposed settlement with […]
Automatic Butcherbot Debones 1,500 Whole Chickens Per Hour
July 11th, 2011Via: Popular Science: The fastest human butchers can fully debone about 150 chickens per hour. That’s a lot of chickens! But the new Mayekawa Automatic Chicken Deboner easily bests it, masterfully breaking down a whopping 1,500 chickens in the same amount of time–which, if our math is correct, is ten times faster than a flesh-and-blood […]
EU Calls Emergency Meeting Over Italian Debt
July 10th, 2011Via: Reuters: European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the euro zone debt crisis for Monday morning, reflecting concern that the crisis could spread to Italy, the region’s third largest economy. European Central Bank President Jean-Claude Trichet will attend the meeting along with Jean-Claude Juncker, chairman […]
U.S. Regime May Cite 14th Amendment to Keep Raising Debt Ceiling
July 10th, 2011Forget your gold coins and bars. This is comedy gold! I had guessed that the regime would use something from one or more of the multiple emergency declarations that the U.S. is under to keep the band playing on, but going to the Constitution might make for less worrisome soundbites—assuming that it goes that far, […]
