Fitch outlines EU countries most hurt by Brexit

•July 1, 2016 • 1 Comment

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https://www.rt.com/business/348840-fitch-brexit-eu-economies/

Ireland, the Netherlands, Belgium, Malta, Cyprus and Luxembourg are the most exposed, mainly due to weaker exports. These countries export goods and services to the UK which make up at least eight percent of their GDP, according to the agency.

A fall in the value of the British pound is likely to have a negative impact on EU exports to the UK because it will reduce Britain’s ability to purchase in euro. At the same time, weaker sterling could boost Britain’s competitiveness by making its exports cheaper abroad.

Fitch adds that the UK’s decision to quit the bloc will increase political risk in Europe as well, encouraging other countries to follow suit.

According to the experts, European countries might gain from some foreign direct investment (FDI) moving from the UK. However, Germany, Luxembourg, Belgium and Malta, with a large stock of FDI and financial assets in Britain, may suffer losses in the euro value of those equities due to a sterling depreciation.

Fitch analysts also note that the loss of the UK’s contribution to the European common budget means other members will have to pay more or recipients will have to accept lower EU payouts.

Earlier this week, the agency cut Britain’s rating by one notch – from AA+ to AA, forecasting a negative impact of Brexit on medium-term growth. Standard & Poor’s lowered UK’s sovereign rating by two notches, predicting a deterioration of the country’s economic performance.

Following the result of the vote, the British pound dropped 10 percent hitting a three-decade low against the US dollar. Stocks on Britain’s premier FTSE 100 index fell more than 10 percent as well.

However, over the last two days, both the British currency and stock markets have made a strong recovery. London’s FTSE was up two-and-a-half percent as of 10:30GMT on Wednesday after posting similar gains a day earlier. The British pound has gained half a percent on the US dollar after recording a one percent gain on Tuesday.

After several days of panic selling, other European stock markets have also rebounded. Indices in Paris and Frankfurt were up around two percent for the second consecutive day of trading.

———-

“Ireland, the Netherlands, Belgium, Malta, Cyprus and Luxembourg are the most exposed, mainly due to weaker exports.”

but not spain, italy or france?

“After several days of panic selling, other European stock markets have also rebounded.”

yes they have..and big time..

who is next to leave?

401

Rolls-Royce’s cargo ship of the future requires no onboard crew

•July 1, 2016 • 2 Comments

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https://www.yahoo.com/news/rolls-royce-sails-ahead-plan-093836819.html

While most of us associate the Rolls-Royce name with luxury cars and jet engines, it also has strong links to the marine sector where it designs vessels and integrates power systems.

Separate from the car business, Rolls-Royce Holdings has for some time been researching the idea of autonomous and remotely controlled cargo ships that it says could take to the high seas as early as 2020.

The futuristic-looking vessels can be monitored remotely by a “captain” stationed at a base anywhere around the world, Oskar Levander, the company’s VP of marine innovation, explained recently at the Autonomous Ship Technology Symposium in Amsterdam.

Adamant that autonomous shipping is just around the corner, Levander said, “This is happening. It’s not if, it’s when. The technologies needed to make remote and autonomous ships a reality exist … we will see a remote-controlled ship in commercial use by the end of the decade.”

Tests of a simulated autonomous ship control system are already underway in Finland, and trials of sensor arrays in different operating and climatic conditions are also being carried out, the company said.

Despite its confident claim that the ships will be plying the world’s waters in the next four years, Rolls-Royce admits there’s still much work to be done, including navigating regulatory hurdles and careful examination of the safety and security implications of operating remotely operated ships.

The issue of piracy, of course, springs immediately to mind. Precisely how would the ships be protected against such attacks, and what safeguards will be in place to prevent a hacker gaining access to the ship’s systems and sailing it to a port of their choice? Rolls-Royce is working on it.

———-

“The futuristic-looking vessels can be monitored remotely by a “captain” stationed at a base anywhere around the world, Oskar Levander, the company’s VP of marine innovation, explained recently at the Autonomous Ship Technology Symposium in Amsterdam.”

*sigh

“The issue of piracy, of course, springs immediately to mind. Precisely how would the ships be protected against such attacks, and what safeguards will be in place to prevent a hacker gaining access to the ship’s systems and sailing it to a port of their choice? Rolls-Royce is working on it.”

phew..

401

George Soros bets €100m AGAINST Deutsche Bank

•July 1, 2016 • 7 Comments

deutsche-bank-logo

http://www.express.co.uk/news/world/684259/George-Soros-100-million-euro-bet-Deutsche-bank-collapse-shares-EU-referendum-Brexit

The man who “broke the Bank of England” took a short position of 0.51 per cent in Deutsche Bank shares on Friday – the day after the people of Britain backed Brexit.

In growing signs that desperate Angela Merkel’s economy is struggling in the wake of the nation’s decision to leave the EU – Soros Fund Management said its short position was now 0.46 per cent – suggesting it had begun to take profits from the trade.

Since the momentous decision, shares at Deutsche have dramatically slumped.

At one point, shares were down by more than 13 per cent compared with Friday’s high point.

By early on Tuesday afternoon, they were down by 7.9 per cent from that level.

Marshall Wace, a British hedge fund, also took a big bet against Deutsche Bank.

Banks across Europe have been left battered by Britain’s decision to turn its back on Brussels in a historic referendum on June 23, but Deutsche Bank is especially troubled.

The bank, which is undergoing a deep restructuring, has been hamstrung by the fallout from the financial crisis, posting a record loss of €6.8billion in 2015.

Around a year ago, John Cryan took over as the bank’s new CEO, with a clear mandate to slah jobs and costs.

Since then the bank’s share price has dropped by nearly 60 per cent, making it one of the lowest-valued international banks.

It comes after Mr Soros who banked profits of $1bn by famously positioning himself against sterling 22 years ago, said a British exodus from the bloc would make the eventual dissolution of the EU “practically irreversible”.

The veteran investor, 85, said that Brexit was the final nail in the coffin for the EU.

Mr Soros made around £690m after his infamous bet that sterling was overvalued against the Deutsche Mark, which forced former Prime Minister John Major to pull the pound out of the European Exchange Rate Mechanism (ERM).

———

401

Amsterdam wants to take London’s crown as global financial hub

•July 1, 2016 • Leave a Comment
Nederland, Amsterdam, 19 aug. 2012 Zuidas foto: Marco van Middelkoop/Aerophoto-Schiphol

Nederland, Amsterdam

https://www.rt.com/business/348580-amsterdam-finance-center-brexit/

Britain’s vote to leave the European Union may give Amsterdam the momentum to become the new center of international finance, reports Dutch daily Volkskrant citing the city’s administration.

“I cannot say the names, but a number of Asian companies operating in the finance sector and located in London, have turned to us in recent weeks,” said Deputy Mayor Kajsa Ollongren, stressing that the firms want to move to the Dutch capital to provide services for mainland Europe.

The companies need to avoid uncertainty connected to labor legislation, taxation, currency rates as well as stability of the British economy, according to the official.

“Asia’s businessmen do not accept such a contingency,” the politician added.

Britain quitting Europe in the long-term puts the Dutch economy in jeopardy, according to Ollongren.

“After leaving the EU, Britain will get an opportunity to independently change the rules of taxing and provide more attractive conditions for business,” she said.

Paris and Frankfurt are also jostling for London’s mantle.

Even before the UK referendum, Paris’s financial elite hosted a conference at which they promised to “roll out the red carpet” for City bankers in the event of Brexit. Frankfurt is also confident it can lure financiers from London.

“Brexit would be bad for Britain, for Germany and for the EU,” Hubertus Väth from Frankfurt Main Finance, a body that promotes the city as a financial center told the Financial Times. “But if it does happen, then Frankfurt is well placed to benefit.”

On Friday, UK citizens voted to leave the European Union by 52 to 48 percent in a national referendum. Now the decision has to be approved by the British Parliament.

Prime Minister David Cameron, a fierce proponent of staying in the EU, announced his resignation on Friday. A new prime minister will be chosen in October.

———

wont happen..

“Even before the UK referendum, Paris’s financial elite hosted a conference at which they promised to “roll out the red carpet” for City bankers in the event of Brexit. Frankfurt is also confident it can lure financiers from London.”

the city of london will not be usurped..

I cannot say the names, but a number of Asian companies operating in the finance sector and located in London, have turned to us in recent weeks,”

right..

401

The fear meme continues: Obama warns poor nations will put planet “under water”

•July 1, 2016 • 1 Comment

Obama_Seattle.JPEG-b6cc7_c0-328-3303-2253_s885x516

http://www.washingtontimes.com/news/2016/jun/25/obama-warns-poor-nations-will-put-planet-under-wat/

The world’s richest nations have long been fueled by oil, coal and natural gas, but President Obama warned Friday that less affluent countries trying to take the same path will put the planet “under water.”

In an interview with Facebook founder Mark Zuckerberg, Mr. Obama said he hoped social-media “connectivity” will help convince developing nations to eschew fossil fuels, which contribute to rising carbon-dioxide levels in the atmosphere but are also less expensive and more reliable than green energy alternatives.

“In terms of the problems we have to solve, energy is a classic example, the issue of climate change,” Mr. Obama said at the three-day Global Entrepreneurship Summit at Stanford University.

“There are entire continents, sub-Saharan Africa or the Indian sub-continent, where people are developing rapidly. They’re getting connected,” he said. “They’re going to need electricity, they’re going to need energy, but if they duplicate the ways that we produce energy here, or have in the past, then the entire planet is under water.”

The seventh annual summit, which ended Friday, hosted 1,200 entrepreneurs and investors from 170 nations, including for the first time Cuba. The Obama administration announced in December 2014 that it would restore full diplomatic relations with Cuba and end a 54-year-old trade embargo with the communist island nation.

———

yes we had 2 centuries of using coal to lift our countries out of the mire but you third world countries wont get that it that easy..

“They’re going to need electricity, they’re going to need energy, but if they duplicate the ways that we produce energy here, or have in the past, then the entire planet is under water.”

everywhere this puppet goes he talks of doom that isnt happening..alarmist claptrap..

401

71% of Americans believe the economy is “rigged”..the other 29% are brain dead

•June 30, 2016 • 7 Comments

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http://www.wpbf.com/money/71-of-americans-believe-economy-is-rigged/40260822

Seventy-one percent think the U.S. economic system is “rigged in favor of certain groups,” according to a new poll by Marketplace and Edison Research.

The poll asked a simple question: Which of the following comes closer to your opinion on the economic system in the U.S. People could select between three options:

1. The economic system is rigged in favor of certain groups 2. The economy system is fair to all Americans 3. Don’t know

Most selected rigged economy. It didn’t matter if the person was white, black or Hispanic or whether they identified as Republican, Democrat or Independent. The majority feel the American Dream comes with huge asterisk that reads “only for the favored few.”

No wonder the “rigged economy” has become one of the biggest talking points on the 2016 campaign trail. Bernie Sanders may have started it, but Donald Trump now uses that exact term and Hillary Clinton talks often about how she’ll help those “left behind.”

Americans have good reason to think this way. The typical middle class family is earning about the same amount of money — just under $54,000 — as they did in 1996, once you adjust for inflation.

That means a lot of people aren’t getting paid more. On top of that, the Great Recession knocked out many people’s safety net savings as they lost jobs or homes or both. Even people who have jobs tell CNNMoney that they feel one step away from financial ruin. They fear a life of “dead-end crap jobs with crap wages.”

Inequality, however you measure it, has been on the rise. The middle class is shrinking — partly because the upper middle class is thriving.

This week, actor Jesse Williams speech at the BET awards highlighting all this went viral. It began: “A system built to divide, impoverish and destroy us cannot stand if we do.” He called on his fellow Black celebrities — many of whom are part of the favored few — to do their part to fix inequality too.

Williams’ words are notable since 83% of African-Americans believe the economy is rigged, according to the Marketplace poll. It’s the highest group to think that, although the majority of Americans across all racial groups feel that way.

———-

Its. All. Rigged.

we have no idea of the depths of the rigging..sometimes we see physical glimpses of it like the recent libor cases..but its usually more esoteric..and its not confined to the usa..its just where the poll was done..

“The majority feel the American Dream comes with huge asterisk that reads “only for the favored few.”

a sight awakening for some..

“83% of African-Americans believe the economy is rigged”

even higher than 71%..

401

Evidence of “magnetic” sixth sense in humans

•June 30, 2016 • 15 Comments

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https://www.rt.com/viral/348576-magnetic-compass-sense-kirschvink-/

A US scientist believes he has discovered clear evidence of a lost human ‘sixth sense’ – one similar to that which enables animals to navigate the globe by detecting magnetic fields.

For years, planetary scientist Joseph Kirschvink has been trying to find a definitive answer to a hotly debated theory that suggests humans have an in-built magnetically guided ‘compass’ sense.

The California Institute of Technology researcher acknowledges the topic of ‘magnetoreception’ is scientifically controversial, since the theory has “been something of a romping ground for quacks and charlatans.”

In 2001, a research team led by Kirschvink described magnetite-based magnetoreception as an “attractive hypothesis to explain long-distance animal migration.”

“Earth’s magnetic field is the only geophysical signal that gives consistent information about position and direction at virtually all times and in all environments,” stated the team’s paper explaining the background to the phenomenon.

Animals have been found to possess subtle magnetic detecting power in previous studies. A 2003 scientific paper, in which Kirschvink was also involved, discovered a “magnetic sense” in aquatic vertebrates.

However, Kirschvink is now working to publish the findings of an admittedly small 24-person experiment which he claims gave a result proving once and for all that “humans have functioning magnetoreceptors,” report Science Mag.

During the experiment, human test subjects were placed in specially designed, darkened space known as a Faraday cage, where they were then exposed to a cycle of magnetic fields similar to the Earth’s.

Through EEG testing, Kirschvink was able to witness repeated active brain responses to the presence of a magnetic field – a consistent reaction which up until now has reportedly eluded the scientific community.

Speaking to Science Mag, Kirschvink said the sense, which happens unconsciously, is “part of our evolutionary history.”

He plans to replicate his findings in the Southern Hemisphere, having already repeated the experiment successfully in California and Tokyo.

———-

“The California Institute of Technology researcher acknowledges the topic of ‘magnetoreception’ is scientifically controversial, since the theory has “been something of a romping ground for quacks and charlatans.”

i see..dont they like ground breaking discoveries or is consensus the only way?:)

“Kirschvink is now working to publish the findings of an admittedly small 24-person experiment which he claims gave a result proving once and for all that “humans have functioning magnetoreceptors,”

very interesting..

401

 
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