Markets


'Series of Government Failures' Blamed for Flint Water Crisis
- March 25, 2016

Appointed by the state's governor, the task force added in a report that failures were found at all levels of government related to the lead contamination crisis with the city's water supply. In the interim, Flint is seeking assistance to bring clean drinking water to its children. He blamed career bureaucrats in the federal government and in his state but also repeatedly apologized for his role in the crisis. (more...)
Arizona Democrats say long poll lines suppressed vote
- March 25, 2016

Maricopa County's top elections official, Recorder Helen Purcell, initially put the blame on voters, stirring a clamor on the Internet. She says the problem was a combination of high voter turnout and a reduced number of polling locations. "This was the first time that we allowed people to go to any polling place". That's pretty bad considering most other counties had an average of about 2,500 or fewer voters per polling site. (more...)
Task force lays Flint water crisis blame on DEQ
- March 25, 2016

The river had a reputation for nastiness. In particular, the report highlighted failures at the environmental quality department in MI. "It was a mixture of ignorance, incompetence, and arrogance by many decision-makers that created a toxic and tragic situation that produced the Flint water crisis", Kolb said. (more...)
Phoenix official backtracks after blaming voters for lines
- March 25, 2016

That, coupled with record voter turnout, resulted in what Former Secretary of State Ken Bennett called a "perfect storm". "My proposal would be to ensure larger counties such as Maricopa, have a minimum number of polling locations", said Yee. (more...)
Uber demands Rs. 5 cr from Ola for alleged malpractices Uber demands Rs. 5 cr from Ola for alleged malpractices
- March 23, 2016

The case will now be heard on September 14. Uber has sought " declaration, perpetual injunction and damages " against Ola in the petition . Google has introduced a dedicated tab with the information on cab services in Google Maps. Uber alleges the actions are creating a shortage of cars and that the high numbers of cancellations are affecting the earnings of drivers, leading 20,000 of them to move to Ola . (more...)
Maine's unemployment rate slips to 3.8% in January Maine's unemployment rate slips to 3.8% in January
- March 22, 2016

Elmore County was tied for the second lowest jobless rate in the state at 5.3 percent in January, and Autauga County was tied for No. 4 at 5.4 percent. Professional and business services was the only sector with an employment gain over the month, adding 300 jobs. The rate was 4.8 percent, down from 5.1 percent in January. (more...)
US existing home sales tumble in warning sign for housing market US existing home sales tumble in warning sign for housing market
- March 21, 2016

Tight supplies have driven the increases in home prices, forcing buyers to bid more for hotly contested homes. The median home sales price was $210,800 in February, a 4.4 percent annual increase from a year ago. "The overall demand for buying is still solid entering the busy spring season, but home prices and rents outpacing wages and anxiety about the health of the economy are holding back a segment of would-be buyers", Yun stated. (more...)
Casinos, money laundering and wire transfers: inside global bank heist Casinos, money laundering and wire transfers: inside global bank heist
- March 20, 2016

Maia Santos Deguito, the manager of the Rizal Bank branch from which the $81 million was withdrawn, has said she had approval from senior bank executives for the transfers. Bangladesh central bank officials close to the investigation said the criminals had used malicious code, known as malware , to penetrate its computers. (more...)
Oil prices rebound as producers agree to April meeting
- March 18, 2016

Brent LCOc1 was up 11 cents at $38.85 a barrel. Oil prices have been declining for the past 18 months as an oversupply of oil floods world markets. "It is hard to see such a meeting reaching an agreement that is price-supportive because these producers are discussing the prospect of freezing oil output at historically high levels", Tamas Varga of PVM said in a report. (more...)
Stocks tick higher on economic data before Fed statement
- March 18, 2016

Asian stocks rose Thursday, tracking gains on Wall Street after the Federal Reserve left interest rates unchanged and forecast it will raise rates more gradually than it had envisioned past year. The loonie spiked against a weakening greenback, gaining 1.37 USA cents to 76.21 cents US. Yellen emphasized that a weak global economy and strong job growth accompanied by lackluster wage growth were among the contradictory economic factors the central bank was considering while deciding on its next ... (more...)
Alexa voice software to offer Fitbit progress updates Alexa voice software to offer Fitbit progress updates
- March 18, 2016

Good news for Fitbit users who also happen to have an Amazon Alexa-enabled device: It's about to get more convenient to keep tabs on your fitness. So, for example, if you ask for your daily step count early in the morning, Alexa will say something like "you've got to start somewhere", or "try to take a walk today, but don't forget to stop and smell the roses". (more...)
Developer Preview of Android N Released Early Developer Preview of Android N Released Early
- March 18, 2016

The preview is available for Nexus 6, Nexus 5X, Nexus 6P, Nexus Player, Nexus 9, and Pixel C devices, and is intended for developers rather than consumers, Google has advised . The power-saving feature Doze, introduced in Android Marshmallow to save battery when a device is stationary, in N additionally saves battery whenever the screen turns off. (more...)
Zika Virus spreads in Missouri through mosquitoes
- March 17, 2016

The species does not live in Wyoming because of the climate. A Missouri man who had traveled from Haiti has been confirmed with a case of Zika virus, according to the CDC. In a new study , researchers looked at the risk of microcephaly in fetuses and newborns whose mothers are infected with Zika virus. By analysing travel patterns from countries and territories with Zika outbreaks, the research team further concluded that cities in southern Florida and impoverished areas in southern Texas ... (more...)
Memo: EPA didn't "want to go out on a limb for" Flint
- March 17, 2016

Edwards' team tested samples last September, showing that some city residents were consuming water with lead levels that were thousands of times higher than the legal limit. "Though I've left government service, I've not stopped worrying about the people of Flint", said Hedman, her voice choked with emotion. He said the agency didn't take definitive action until January. (more...)
Fed keeps key rates unchanged; foresees fewer hikes in 2016 Fed keeps key rates unchanged; foresees fewer hikes in 2016
- March 17, 2016

Federal Reserve policymakers said Wednesday that the US economy is chugging along at a decent pace with an improving job market. The interest rate outlook also was a shift from the four quarter-point rises expected when the Fed raised rates in December for the first time in almost a decade. (more...)
Fed keeps key interest rate unchanged, cites global threats
- March 17, 2016

Asian markets were mixed Wednesday as investors watched for news from a U.S. Federal Reserve policy meeting and from China's annual legislative session. Fossil (FOSL.O) slid 4.8 percent at $44.62 after Macquarie cut its rating on the stock to "underperform". That could force employers to offer higher pay and accelerate growth. (more...)
Investors cautious ahead of Fed comments
- March 17, 2016

The Federal Reserve left interest rates unchanged on Wednesday, acknowledging risks overseas and growth in the USA economy. Bloomberg Intelligence's Ken Hoffman explains that an increase in the Federal Reserve's interest rates would not be good for gold, as such increases boost the value of the dollar. (more...)
Property | US home construction jumps in February Property | US home construction jumps in February
- March 16, 2016

Census Bureau and the Department of Housing and Urban Development . "We see a resilient labour market as supportive of a continued slow and steady housing recovery and low housing inventory should continue to bolster residential construction ahead", Dwyer said. (more...)
Gov. Snyder releases more emails related to Flint Water Crisis
- March 16, 2016

Last month, a county health supervisor told CNN Michigan authorities blocked county health officials from investigating an outbreak of Legionnaires' disease that may have been linked to the water crisis in the impoverished city of Flint. It shows that an employee from Snyder's Office of Urban Initiatives warned against the rush to switch Flint's water source from Detroit-area system to Flint River in 2014. (more...)
Fed mulls interest rate future amid weaker U.S. retail sales
- March 16, 2016

Fed Chair Janet Yellen will also discuss the situation with journalists after the meeting and present new economic forecasts from the panel. According to JP Morgan Asset Management's global market strategist Kerry Craig, "The Federal Reserve can't hike rates unless the market expects to see it. (more...)

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