Thursday, November 08, 2012
News Links, November 9, 2012
## Global Ponzi meltdown/House of Cards ##
El-Erian: Really Depressing Numbers Out of Greece
EU to unveil multi-billion euro support scheme for auto sector
"The EU pledges funding worth billions of euros to the automotive industry up 2020 in a leaked draft of its cars strategy, to be presented today (8 November). The new strategy comes amid a wave of announced factory closures and lay-offs in the sector but was criticised by Green activists for lacking ambition on CO2 emission cuts."
EU to unveil multi-billion euro support scheme for auto sector
"The EU pledges funding worth billions of euros to the automotive industry up 2020 in a leaked draft of its cars strategy, to be presented today (8 November). The new strategy comes amid a wave of announced factory closures and lay-offs in the sector but was criticised by Green activists for lacking ambition on CO2 emission cuts."
High raw materials cost the most significant threat faced by Brazilian steelmakers - S&P
"Ratings agency Standard & Poor's said that in the last few years Brazilian steelmakers have faced a strong local currency, high costs of raw materials and labor, significant idle capacity and increased competition from imports, which have seriously affected their competitive advantage and hence their operating margins."
Draghi open to ECB rate cut, done helping Greece
"Ratings agency Standard & Poor's said that in the last few years Brazilian steelmakers have faced a strong local currency, high costs of raw materials and labor, significant idle capacity and increased competition from imports, which have seriously affected their competitive advantage and hence their operating margins."
Draghi open to ECB rate cut, done helping Greece
Dexia gets further aid from France and Belgium
"France and Belgium have agreed to pump a further 5.5bn euros ($7bn; £4.4bn) into struggling bank Dexia, after it reported another large loss."
"France and Belgium have agreed to pump a further 5.5bn euros ($7bn; £4.4bn) into struggling bank Dexia, after it reported another large loss."
Kuwaiti offices half empty after hub bid runs aground
"Almost half the office space in Kuwait's financial centre lies empty after plans to become a regional business hub rivalling Dubai were wrecked by the financial crisis and the difficulties of doing business in the Gulf state."
"Almost half the office space in Kuwait's financial centre lies empty after plans to become a regional business hub rivalling Dubai were wrecked by the financial crisis and the difficulties of doing business in the Gulf state."
## Airline Death Spiral ##
EADS Cash Dwindles as Jets Line Up
"European Aeronautic, Defence & Space Co. (EAD) saw its cash pile dwindle by a third in the first nine months as about a dozen A380 superjumbos await delivery and the company negotiates development aid from the German government."
Kingfisher Q2 loss widens to Rs. 754 cr
"European Aeronautic, Defence & Space Co. (EAD) saw its cash pile dwindle by a third in the first nine months as about a dozen A380 superjumbos await delivery and the company negotiates development aid from the German government."
Kingfisher Q2 loss widens to Rs. 754 cr
"About 24 million people are expected to fly during the holiday period, up by 150,000 passengers from last year, said industry trade group Airlines for America. However, fewer planes will be flying because airlines have grounded some to cut expenses."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Iranian warplanes fired on U.S. drone over Gulf: Pentagon
"Iranian warplanes fired at an unarmed U.S. drone in international airspace last week but did not hit the aircraft, the Pentagon said on Thursday, an unprecedented incident that triggered a sharp warning to Tehran through diplomatic channels."
Beijing Sinking Teeth into Western Turf in Asia
"Iranian warplanes fired at an unarmed U.S. drone in international airspace last week but did not hit the aircraft, the Pentagon said on Thursday, an unprecedented incident that triggered a sharp warning to Tehran through diplomatic channels."
Beijing Sinking Teeth into Western Turf in Asia
Strategic oil needed if Iran shuts Hormuz
"Strategic oil reserves will be needed if Iran seeks to close the chokepoint Strait of Hormuz, an Arab energy group has warned."
"Strategic oil reserves will be needed if Iran seeks to close the chokepoint Strait of Hormuz, an Arab energy group has warned."
Iran's Ahmadinejad says anyone stockpiling atom bombs "retarded"
"Iranian President Mahmoud Ahmadinejad said on Thursday the age of nuclear deterrence was long gone and any country still stockpiling nuclear weapons was 'mentally retarded.'"
"Iranian President Mahmoud Ahmadinejad said on Thursday the age of nuclear deterrence was long gone and any country still stockpiling nuclear weapons was 'mentally retarded.'"
A barb clearly aimed at the US and Israel. -- RF
## Global unrest/mob rule/angry people/torches and pitchforks ##
Four Tibetans set themselves on fire (China)
## Energy/resources ##
Libyan oil production targets hit wall
"Damage from the Libyan civil war to the country's oil infrastructure meant there would be a delay in reaching production forecasts, an executive said."
"Damage from the Libyan civil war to the country's oil infrastructure meant there would be a delay in reaching production forecasts, an executive said."
Low power price threatens Norway's green targets
"Norway's ambitious plans to boost wind power output to cut greenhouse gas emissions and diversify supplies are at risk because of low power prices and an underfunded subsidy scheme, industry sources say."
"Norway's ambitious plans to boost wind power output to cut greenhouse gas emissions and diversify supplies are at risk because of low power prices and an underfunded subsidy scheme, industry sources say."
Desperation: Mining the Oceans for Mineral Riches
Update on coal (TOD; lots and lots of graphs)
ONGC Net Profit Drops 32% on Discounted Crude Sales
"Oil & Natural Gas Corp. (500312.BY), India's largest explorer by output, Thursday posted a larger-than-expected 32% fall in its second-quarter net profit, hurt by higher discounts on crude oil sales to state-run fuel-marketing companies."
"Oil & Natural Gas Corp. (500312.BY), India's largest explorer by output, Thursday posted a larger-than-expected 32% fall in its second-quarter net profit, hurt by higher discounts on crude oil sales to state-run fuel-marketing companies."
Desperate South Sudan Carves up Total Concession
## Got food? ##
FAO slashes grain f'casts, world food prices stay high
## Got food? ##
FAO slashes grain f'casts, world food prices stay high
Federal scientists muzzled on oilsands
"Environment Canada scientists have confirmed results published by researchers from the University of Alberta showing contaminants accumulating in the snow near oilsands operations, an internal federal document has revealed."
Laos breaks ground on Xayaburi Dam
"Environment Canada scientists have confirmed results published by researchers from the University of Alberta showing contaminants accumulating in the snow near oilsands operations, an internal federal document has revealed."
Laos breaks ground on Xayaburi Dam
## Intelligence/security/internet/cyberwar ##
Department Of Homeland Security To Scan Payment Cards At Borders And Airports
## Systemic breakdown ##
More NY gas stations ran out of fuel on Wednesday: EIA
"The New York fuel hub took a step back from its recovery on Wednesday, as more gasoline stations ran dry just a week after Superstorm Sandy struck the U.S. Northeast, a report showed."
Shelter From the Storm? The Entire Nation Has Infrastructure Lessons to Learn From Hurricane Sandy
## Japan ##
Is Japan Risking War to Save the U.S.-Japan Alliance?
## Japan ##
Is Japan Risking War to Save the U.S.-Japan Alliance?
1 in 3 young men feel they can't marry
"One out of three Japanese men in their 20s think they may not be able to marry, despite their wish to do so, with about 60 percent citing economic insecurity as the main reason, a life insurance company survey has revealed."
Do We Have What It Takes To Get From Here To There? Part 1: Japan
"One out of three Japanese men in their 20s think they may not be able to marry, despite their wish to do so, with about 60 percent citing economic insecurity as the main reason, a life insurance company survey has revealed."
Do We Have What It Takes To Get From Here To There? Part 1: Japan
## UK ##
Britain gives nod for deep-water oil work
"It's 'vital' that energy companies take a closer look at oil reserves in the British waters of the North Sea to help boost the economy, an official said."
"It's 'vital' that energy companies take a closer look at oil reserves in the British waters of the North Sea to help boost the economy, an official said."
Immigration backlog is the size of Iceland
"The immigration system is 'spiralling out of control' as officials run up a backlog of more than 300,000 cases, MPs have warned."
Switch-off plan for some city street lights
"The immigration system is 'spiralling out of control' as officials run up a backlog of more than 300,000 cases, MPs have warned."
Switch-off plan for some city street lights
Axe-wielding thieves on motorcycles storm mall
## US ##
Nor'easter snow layers Sandy destruction; more evacuations, more power outages
## US ##
Nor'easter snow layers Sandy destruction; more evacuations, more power outages
Explosion in Uncovered Employment During the Recovery
Massive Amounts of Insider Selling Right Before Presidential Election
Massive Amounts of Insider Selling Right Before Presidential Election
