Gordon: “We’re Heading To Complete Financial, Moral, & Political Collapse”

Authored by MN Gordon via EconomicPrism.com, This week, while perusing the Federal Reserve’s balance sheet figures, we came across a rather curious note.  We don’t know how long the Fed’s had this note posted to its website.  But we can’t recall ever seeing it.  The note reads as follows: “The Federal Reserve’s balance sheet has expanded and contracted over time.  During...

While Americans Sacrifice To Survive The Pandemic, CEO Compensation Has Barely Changed

It looks as though we are in the midst of another recession where those in the C-suite are little affected; and in some cases where the Fed has stepped in, doing better than they were financially before the pandemic. And the “shared sacrifice” from most company’s CEOs – many of whom took pay cuts to show “solidarity” with employees – has actually been far less...

Protesters block Bolivian roads after Covid-19 postpones election

Tens of thousands of Bolivians have blocked roads across the country over a decision to delay the presidential election due to coronavirus, prompting fears of a repeat of the chaos and bloodshed that followed the last election nine months ago. The Organisation of American States has accused some protesters of “preventing the passage of oxygen tankers and ambulances necessary to...

US Intelligence: If Trump Wins Russia Did It, If Biden Wins It Was China And Iran

Authored by Caitlin Johnstone via Medium.com, Back in April I said “China’s gonna be so surprised when it finds out it interfered in the November election.” Now three months ahead of schedule China is already getting its surprise, alongside fellow unabsorbed governments Iran and Russia. U.S. intelligence agencies say China and Iran are working to sway voters against Trump while Russia is...

Quanta Services’ (PWR) CEO Duke Austin on Q2 2020 Results – Earnings Call Transcript

Quanta Services, Inc. (NYSE:PWR) Q2 2020 Earnings Conference Call August 6, 2020 9:00 AM ET Company Participants Kip Rupp – Vice President, Investor Relations Duke Austin – President and Chief Executive Officer Derrick Jensen – Chief Financial Officer Conference Call Participants Noelle Dilts – Stifel Michael Dudas – Vertical Research Steven Fisher – UBS Jamie Cook – Crédit Suisse Adam...

U.S. Oil Rig Count Falls To Lowest Level Since 2009

Baker Hughes reported on Friday that the combined oil and gas rig count in the U.S. fell this week by 4, to 247. The total oil and gas rigs are down by 687 compared to this time last year. The number of oil rigs slipped for the week by 4 rigs, according to Baker Hughes data, bringing the total to...

Thousands take to Beirut streets as anger against politicians grows

Police fired tear gas at demonstrators on Saturday as thousands of Lebanese gathered to protest against the government after a massive explosion killed more than 150 people and devastated much of the capital. Activists have called for a “day of judgment” as public anger with Lebanon’s political elite intensified, with many Lebanese blaming their leaders and the fractious political system...

Italy seeks 28.5 billion euros in EU’s SURE unemployment aid

Via Yahoo Finance MILAN (Reuters) – Italy has asked the European Union to tap its SURE unemployment scheme for 28.5 billion euros ($33.6 billion) after extending furlough support to help the economy withstand the hit from the COVID-19 crisis. The Italian government on Friday approved a new stimulus package worth 25 billion euros, setting aside roughly half of that sum...

Polish police detain LGBT protesters after scuffles in Warsaw

Polish police have detained 48 people following scuffles surrounding the temporary arrest of an LGBT rights activist on Friday night in Warsaw. The scuffles broke out after a court in Warsaw ordered the activist, who is suspected of assaulting the driver of a van from a conservative, pro-life foundation, to be detained for two months pre-trial. After the court hearing,...

Jones Lang LaSalle’s (JLL) CEO Christian Ulbrich on Q2 2020 Results – Earnings Call Transcript

Jones Lang LaSalle Incorporated (NYSE:JLL) Q2 2020 Earnings Conference Call August 6, 2020 9:00 AM ET Company Participants Chris Stent – Executive Managing Director of Investor Relations Christian Ulbrich – President and Chief Executive Officer Karen Brennan – Chief Financial Officer Richard Bloxam – Chief Executive Officer, Capital Markets and Valuations Neil Murray – Chief Executive Officer of Corporate Solutions...

Slowing U.S. job growth, rising COVID-19 raise doubts on the recovery’s strength

WASHINGTON (Reuters) – U.S. employment growth slowed considerably in July, underscoring an urgent need for additional government aid as a resurgence of COVID-19 infections threatens to snuff out the nascent economic recovery. The Labor Department’s closely watched employment report on Friday came as Democratic leaders in Congress and top aides to President Donald Trump struggled to negotiate a fiscal package....

Fed Wants Inflation But Their Actions Are Deflationary

Authored by Lance Roberts via RealInvestmentAdvice.com, A recent CNBC article states the Fed will make a major commitment to ramping up inflation. How is this different than the past decade of promises for higher inflation? More importantly, while the Fed may want inflation, their very actions continue to be deflationary. The Fed Has A Plan “In the next few months, the Federal...

Huawei will no longer produce its flagship chipsets due to US sanctions

Via RT Business Washington’s restrictions will force Chinese tech giant Huawei to stop making the chipsets powering its flagship smartphones as soon as next month, the company has revealed. According to Richard Yu Chengdong, CEO of Huawei’s consumer business, the new high-end Mate40 will become the last model featuring its most advanced processor Kirin 9000. The new smartphone is set...

Florida Cases, Fatalities Bounce Back After Hurricane As US Deaths Top 160,000: Live Upates

Summary: US deaths top 160k Florida reports another 187 deaths, cases climb NY cases top 700 Hong Kong cases top 4,000 Germany “R” rate hits highest in 10 days Denmark says may asks citizens to wear masks more frequently * * * It’s official: The US has passed 160,000 confirmed deaths, according to figures reported by state health authorities and...

Spero Therapeutics’ (SPRO) CEO Ankit Mahadevia on Q2 2020 Results – Earnings Call Transcript

Spero Therapeutics, Inc. (NASDAQ:SPRO) Q2 2020 Earnings Conference Call August 6, 2020 4:30 PM ET Company Participants Sharon Klahre – Senior Director-Investor Relations Ankit Mahadevia – Co-Founder, President and Chief Executive Officer David Melnick – Chief Medical Officer Cristina Larkin – Chief Operating Officer Steve DiPalma – Interim Chief Financial Officer Conference Call Participants Ritu Baral – Cowen Louise Chen...

Hard hit businesses pay only fraction of rents in July

The challenge of collecting rent in the age of coronavirus has been laid bare in recent days by US commercial landlords that have reported receiving only pennies on the dollar from movie theatres and some other tenants hard hit by the pandemic. A series of financial filings from listed real estate investment trusts show that overall collection rates have risen...