Business

Putin Closes The Door To Monsanto

In a new address to the Russian Parliament Thursday, Putin proudly outlined his plan to make Russia the world’s ‘leading exporter’ of non-GMO foods that are based on ‘ecologically clean’ production. Putin harshly criticized food production in the United States, declaring that Western food producers are no longer offering high quality, healthy, and ecologically clean food. Putin is correct. American agribusiness is slowly poisoning the American population.

South Africa's Standard Bank has confirmed that it is the latest bank to be hacked into, admitting that it had credit card data stolen and used in an elaborate scheme carried out in Japan.

On May 15th, between 5am and 8am, more than 100 people withdrew $13 million from 1400 ATMs across Japan in less than three hours. The coordinated heist involved forged credit cards, and data stolen from South Africa's Standard Bank. As The BBC reports,

A quick note from Eric Peters, CIO of One River Asset Management, which explains in very simply terms how as oil tumbled and its volatility soared, virtually everyone who manages large amounts of money missed the oil price rebound.

From The Great Recession Blog

by David Haggith

This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve tried to push back up to that distant high that means new life several times, but each time the market falls into a pit again.

While not quite on the level of last week's Berenberg downgrade (to Sell) which warned that DB's problems may now be "insurmountable", shortly after the close Moody's surprised the market with a downgrade that may have substantial repercussions on the funding costs (and perhaps viability) of the largest German, and European, lender.