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first_imgWelcome to India Today Online’s coverage of the first cricket Test match between India and New Zealand from the Rajiv Gandhi International Stadium in Uppal, Hyderabad. Score | PhotosIndia vs New Zealand Day 1Pujara: I am happy that I have made a comeback and I have started well. I like to thank my father for supporting me. It is my immense love for the game that keeps me going. We were playing in tough conditions on the A tour to the West Indies. I knew that I was facing these kind of bowlers and I knew the ground well. I was better prepared. The pitch is slowing down and it is starting to turn. MS Dhoni is telling me to score a double ton and we will look to go past 400.Summary: The day belonged to Cheteshwar Pujara. He has nicely slotted back into the Indian Test team after a gap of 20 months. His first Test century lit up what has been an even day for both India and New Zealand. Both the openers fell to poor shots while Tendulkar was sent back by a wonderful delivery from Boult. Kohli and Pujara shared a 125 run stand before Martin accounted for Kohli. Raina too fell cheaply before Dhoni and Pujara steadied the ship.5:05 pm | 86.6 overs: STUMPS – India score 307/5 on Day 1. Chris Martin to Pujara, no run, back of a length delivery and it nips back in just outside off, Pujara defends it to mid off and that will be stumps. Pujara (119*) and skipper MS Dhoni (29*) remain unbeaten.4:50 pm | 84.1 overs: PUJARA GETS A LIFE! Chris Martin to Pujara, no run, loud appeal for a catch but not given, New Zealand cannot believe it, good length ball that darts back in around the off stump, the ball flicks the glove as Pujara takes the bottom hand off, van Wyk dives to his left and collects it, umpire Gould does not give it out, that is a poor decision. The TV replays clearly point out that he was out.advertisement4:30 pm | 10 overs remaining: New Zealand have taken the NEW BALL. We should have called it a day now, but they’re short by ten overs.MS Dhoni, right handed bat, comes to the crease4:05 pm | 72.4 overs: WICKET! Raina departs cheaply. His poor form continues. Jeetan Patel to Raina, out Caught by van Wyk!! Oh boy, this is a very unlucky way to go. Quicker ball fired down the leg side, Raina looks to tickle it down to fine leg, gets a feather edge and van Wyk moves to his right to collect a sharp catch, Jeetan is thrilled to bits. Raina c van Wyk b Jeetan Patel 3(13) (India 260/5 in 72.4 overs)3:37 pm | 69.3 overs: 100 UP FOR PUJARA! Franklin to Pujara, 1 run, the crowd erupts as Pujara gets to his first Test century, take a bow, Che Pujara! Short of length ball on the middle and leg stump, Pujara clips it to long leg and punches the air in delight, he is just soaking in the adulation here, many more to come I am sure. And that’s his break-up for the century – 169 balls, 14 fours, 1 six. This is also his maiden international ton. He also has 14 first class centuries to his credit.  3:42 pm | 68.4 overs: Chris Martin to Pujara, FOUR, to third man. And Paujara moves on to 99. You bet, he has batted like Rahul Dravid. Good decision by skipper MS Dhoni to bring him on No. 3 position.Suresh Raina, left handed bat, comes to the crease3:38 pm | 68.1 overs: WICKET! Thank God it’s not Pujara! Chris Martin to Virat Kohli, out Caught by Guptill!! The Phantom breaks this dangerous stand. Good length ball in the zone outside off and gets it to kick up a touch, Kohli plays away from the body and looks to force it to the off side, gets an outside edge that flies to Guptill at second slip, Kohli is gutted as he walks back. Virat Kohli c Guptill b Chris Martin 58(107) [4s-8] (India 250/5 in 68.1 overs)3:28 pm | 66.2 overs: Chris Martin to Virat Kohli, no run, loud shout for an LBW from Martin but not given, length ball and it nips back in off the pitch, Kohli plants his front foot across and looks to work it to the leg side, he misses it and gets rapped on the pads, but that ball was sliding down the leg side.3:03 pm | 60 overs: India are 219/3 at the stage with Virat Kohli and Cheteshwar Pujara in the middle.2:30 pm | THIRD SESSION2:10 pm | TEA: India are 182/3 in 54.0 overs (Pujara 54, Kohli 32)advertisement2:05 pm | 51.6 overs: FOUR and that brings up Pujara’s 50. He is definitely living up to his expectations. Franklin to Pujara, FOUR, fantastic shot! Short and a touch wide outside off, Pujara latches on to it and cuts it away off the back foot, to deep backward point, for a boundary.1:32 pm | 44.1 overs: Nicely driver by Pujara towards the boundary. Doug Bracewell to Pujara, FOUR, wonderful shot! Full outside off, Pujara gets onto the front foot, leans in to the delivery and drives it with perfect timing, through the gap on the off side, to the sweeper cover fence.Virat Kohli, right handed bat, comes to the crease12:54 pm | 34.5 overs: WICKET! It’s a big one …Sachin walks! Boult to Tendulkar, out Bowled!! Lovely delivery! Good length on middle, angled across, pitches and jags back in to the right hander, Tendulkar tries to push at it but the ball goes through the gap between bat and pad, and crashes in to middle stump. Tendulkar reacts as though the ball stayed a little low, however, replays suggest otherwise. Tendulkar b Boult 19(62) [4s-2] (India 125/3 in 34.5 overs)12:30 pm | 29.6 overs: India are 111/2 at the stage. Boult to Pujara, no run, pitched up outside off, Pujara lets it go through to the wicketkeeper.12:12 PM |  25.3 overs: Four and that brings up the 100 to Team India. Patel to Pujara, FOUR, that’s a cracking shot! Too wide by Patel, Pujara had the time to rock back and slap it wide of point12:10 pm | SECOND SESSION – The players are coming back out to the middle. This session is going to be a very important one for both sides.LUNCH – India are 97/2 at the stage. Sehwag and Gambhir got starts but couldn’t convert them into big scores. The Kiwis have got rid of the openers and if they can get Tendulkar soon after lunch, they’ll feel that they have an upper hand. Join us at 12:10 for the next session11:30 am | 25 overs: India are 97/2 at the stage with Sachin Tendulkar and Cheteshwar Pujara at the crease. They are batting at ease after Virender Sehwag provided the hosts with a quick start.10:55 pm | 15.3 overs: Sachin opens his account. Boult to Tendulkar, 1 run, off the mark with a single, down the leg side and Tendulkar glances it to fine leg for one.Sachin Tendulkar, right handed bat, comes to the crease10:45 am | 14.3 overs: WICKET! Oops Sehwag falls three runs short of his 50! Doug Bracewell to Sehwag, out Caught by Guptill!! No drop catches this time. In fact, it’s a sharp catch! Short of length but too close to the off stump, Sehwag still goes for the cut but he ends up guiding it straight to second slip, he hit that hard but Guptill did very well to hold on. An entertaining knock comes to an end, but India needed more than just 47 from Sehwag.. Sehwag c Guptill b Doug Bracewell 47(41) [4s-9] (India 77/2 in 14.3 overs)10:40 am | 13 overs: India are 65/1 at the stage. DRINKS! Drinks are on the field now . A good first hour for India, but New Zealand are just getting some rhythm going now. Things would have been very different had they taken the catch in the last over..advertisement10:38 am | 12.5 overs: Driven away towards the boundary. Easy 4 there. Doug Bracewell to Sehwag, FOUR, edged and between 1st slip and the keeper! Oh dear, oh dear. Good delivery that – full and close to the off stump, Sehwag pushes away from the body and gets a thick edge, it goes right between van Wyk and Ross Taylor and both of them leave it to the other. Taylor reacts late and attempts to go for the catch but it’s a bit too late.. will that prove costly?So Pujara has stepped into Rahul Dravid’s boots. Hope he lives up to the expectations. Cheteshwar Pujara, right handed bat, comes to the crease10:20 am | 9.6 over: WICKET! And Boult gets his man of the last ball of the over. Boult to Gambhir, out Caught by van Wyk!! That’s the first strike. The bowling has been good in the last 2 overs and that ultimately consumes Gambhir. Perfect length in the corridor of uncertainty outside off, Gambhir pokes at it as he always does and gets an edge to the keeper. Gambhir started well, but has to walk back now. Gambhir c van Wyk b Boult 22(36) [4s-4] (India 49/1 in 10 overs)10:10 am | 8.2 overs: DROPPED! It was a tough one though. Chris Martin to Sehwag, 2 runs, a harsh man will call that a chance. It would have been an incredible catch had he taken it. Martin digs it in short, Sehwag looks to pull but it gets a bit too big on him, goes off the top of the bat but just clears mid wicket. Flynn ran back from that position and tried to get there but couldn’t.10:10 am | 8 overs: Two quick fours off Sehwag in that over off Doug Bracewell even as India total reach 39 for no loss.9:50 pm | 3.6 overs: An easy FOUR there Boult to Gambhir, 4, edged, in the air, but safe! Good delivery that – full and moving away, Gambhir was drawn into the drive but only manages a thick edge, luckily for him it went between the slip cordon and gully9:46 pm | 3 overs: India are 8 for no loss against the Kiwis even as Chris Martin has completed his over. Sehwag and Gambhir are going easy there.9:42 pm | 2 overs: Boult to Sehwag, no run, angled away from Sehwag who leaves it alone.9:35 pm | 0.6 over: Chris Martin to Sehwag, no run, a bouncer to end the over, Sehwag stays away from that one.9:30 am | Gambhir and Sehwag are at the crease. Gambhir is on strike. Chris Martin will open the attackNot many surprises in the Indian playing eleven. Pujara was an obvious choice and Raina has pipped Badrinath for the number 6 spot. The tougher question is: who will bat at number 3? Will it be Pujara – who is touted as the next Rahul Dravid, or Kohli – who has already tasted success at that position in ODIs?Teams:  New Zealand (Playing XI): Martin Guptill, Brendon McCullum, Daniel Flynn, Ross Taylor(c), Kane Williamson, James Franklin, Kruger van Wyk(w), Doug Bracewell, Jeetan Patel, Trent Boult, Chris Martin India (Playing XI): Virender Sehwag, Gautam Gambhir, Virat Kohli, Sachin Tendulkar, Cheteshwar Pujara, Suresh Raina, MS Dhoni(w/c), Ravichandran Ashwin, Zaheer Khan, Pragyan Ojha, Umesh Yadav Taylor: The pitch is hard. We have played here in the IPL and seen that the wicket is hard. It was a disappointing tour of the West Indies but we had 1 and a half weeks to get over it. Chris Martin, Jeetan Patel and Franklin come in to the side. Dhoni: The wicket will assist spinners later on. The last game we played here was a draw. It’s good to see a wicket like this in the sub-continent. There is something for the batsmen and the bowlers. The break helped us, especially in the fitness aspect. We’ll miss Rahul Dravid and Laxman. They’re legends of the game. Rahane, Ishant, Piyush and Badri are missing this game. 9:00 am | TOSS: India have won the toss and elected to bat Pitch report: It’s evenly rolled, but it’s very dry, with no grass whatsoever. We expect the pitch to take turn as the Test match progresses. The pitch has a bit of dampness, which will aid faster bowlers initially. With the humidity around, it might swing, but it will be tough conditions for the Kiwis.last_img read more

first_imgHome to many young, promising designers, Hyderabad is fast making its mark on the fashion map. Classic saris rub shoulders with opulent Indo-Western wear even as young designers are going green with recycled materials or luring the modern fashionista with experimental and creative innovations. Join us for a tete-a-tete with,Home to many young, promising designers, Hyderabad is fast making its mark on the fashion map. Classic saris rub shoulders with opulent Indo-Western wear even as young designers are going green with recycled materials or luring the modern fashionista with experimental and creative innovations. Join us for a tete-a-tete with some of the city’s coolest, most innovative designers.Uber chic: Sagar TenaliHe launched his label, Sagar Tenali in 2006 and since then, has been on a roll. A NIFT graduate, he worked with the brand XLNC in Hyderabad, designing men’s clothing before he started his own studio in 2008.With his creations displayed in most leading studios throughout India, he’s carved a niche in the genre of western wear, club wear, resort wear and wedding trousseau. ‘Confident subtlety’ is his mantra and his latest collection titled Oh Bahamas reflects that rather stylishly. Essentially resort wear with a lot of linen jackets, chinos, ponchos and kaftans thrown in, he’s experimented with the embellishing and has used European style stones, crystals and other such adornments. “Expect to see a lot of silver, and black this season is blended with other shades,” he says. Other hot colours this season are slated to be dark emerald green, olive greens, brick red, shades of yellow, and blues like ultramarine and midnight. Layers are back. Like a kurta emerging out of a sherwani, paired with churidars.Style tip: Men can do away with the stoles and dupattas and go in for the pagdi or turban while sporting ethnic wear.advertisementUrbane hues: Asmita MarwaAsmita Marwa’s creations fuse the traditional with the contemporary, producing a chic urbane sensibility. An extensive traveller, Asmita draws inspiration from anything ranging from exotic spice markets to things lying on her desk in her studio. In 2008, she was featured among ‘Nine Designers to Look Out For’ by Vogue and now she’s already got a number of fashion weeks to her credit. Though having received no formal training in fashion, Asmita, a Psychology graduate was always interested in clothing design and has learnt designing through observation and experimenting besides her numerous travels abroad. Besides clothes, she also designs spaces and furniture as a hobby. Her label Asmita Marwa was launched in 2003 and for a few years following that, she retailed from a few stores.Her big break came in 2008 when she showcased her kalamkari collection at Lakme India Fashion Week, Mumbai. “One of the most fascinating aspects of contemporary fashion is the liberty of expressing yourself the way you like without any rigid set of style mantras,” says Asmita. Her latest collection, titled La Vi En Rose, showcased at the Blender’s Pride Fashion Tour this month is all about viewing life through rose tinted glasses even though everything around is affected by corruption, recession, violence and negativity. Her inspiration for this collection came from Woodstock and the times of the 60s and 70s that she keeps going back to.Her designs reflect a hippie chic look with a kaleidoscope of colours and prints. There are two distinct looks for this season-a boyish androgynous look and a more feminine bohemian kind of look,” she says. “Solid colours are the ‘in’ thing with a focus on deep tone shades of primary colours-burnt red, indigo, dirty mustard or military green. The last season’s obsession with purple is certainly over. The silhouettes are more structured and no-fuss. In India, a draped look still works. This translates into kaftan dresses and stuff like that.”Style tip: For evening wear, go in for a crisp white asymmetrical shirt with a pair of black leggings or pyjama pants or even palazzo trousers.Natural pizzazz: Sashikant NaiduEngineering didn’t quite agree with his more creative inclinations and Sashikant Naidu decided to follow his calling when he took up a diploma in designing at NIFT and debuted on the fashion week circuit at Lakme India Fashion Week, 2010. Listed among the top 50 upcoming designers of India in the Femina Book of Fashion 2003, he launched his label, Sashikant Naidu in the same year, but not before facing his fair share of struggles. He still thinks of himself as a struggling designer since he isn’t a cut throat businessman and can’t be one. “I like doing things my way and it’s been good so far-step by step with no overnight breakthroughs.” He started out really small in his father’s garage and not only had to work hard, but also face jibes like ‘After all you’re just a tailor!’ Inspired by Indian culture, heritage, tribes, and colours, Sashikant’s designs are subtle and classy. This season too he continues to work with ikat and kalamkari in silks apart from khadi that keep you cool in summer and warm in winter. When it comes to trends he says, “Burnt oranges, reds, deep purple, dull gold, royal blue, deep teal, primrose yellow are hot on the ramp and peach is the new neutral this season.” According to him, prints and colour blocks with structured cuts, carrying just a hint of sparkle and layering sums up the current look.Style tip: Aclassy shirt dress will always work since you can dress it down for work and up for the evening.advertisementClassy appeal: Archana RaoShe’s among the youngest of the lot and among the most promising too, going by the impressive looks in her look book. Archana Rao made a stunning debut on the fashion circuit this year, launching her label Frou Frou-a name inspired by the rustling sound of fabric-at the Gen-Next show, Lakme Fashion week, March 2012. After a bachelors degree at NIFT, Archana attended Parsons school of Design, New York and was selected to showcase her graduation collection at the prestigious Parsons Line Debut 2009 at Lord and Taylor, New York. That was followed by an internship at Kaufman Franco, New York, and after getting back to India, she started working as a menswear designer. The look for her latest collection Prologue is very androgynous. Classic masculine designs have been tweaked with a romantic, feminine twist. The structured, uniformed style of menswear has been made fluid with the use of oversized garments. “Inspired by the basic principles of line and form, silhouettes this season will be streamlined,” says Archana. Structured clothing with bold fabrics and simplistic style details are the forecast for the season.Style tip: Women should experiment with detachable collars, embellished neck pieces, oversized cuffs and metal belts.Ethnic elan: Ganesh NallariGanesh Nallari’s passion for fashion may have been a late discovery, but is certainly enriched with all that he’s done before, in line with his design philosophy of varied styles and inspirations coming together eclectically. Since art is known to show up in unexpected and often unpredictable ways, the painter, trained Bharatanatyam and Kuchipudi dancer, theatre actor, and once even a qualified dentist eventually took to dressing up the fashion conscious in the city. After having studied at Domus Academy, Milan and NIFT, he launched his label, Ganesh Nallari in 2007 that specialises in wedding trousseau for women and men. Over the last few years, he’s designed clothes for weddings, styled for several Telugu movie projects and dance productions and also finds his creative expression in theatre. “My brand celebrates the luxury of clothing, originating from the classic Indian art forms,” he explains. Ganesh finds Indian ethnic wear dominating this season in India. Apart from saris and anarkalis, which have been safe bets all through, the half-sari is becoming popular for its mix of fusion elements and diversity in style, allowing women of all ages to adapt to the new interpretation of this traditional attire with easy grace. Traditional fabrics like chanderi, kota tissues, kanchivaram and shaded Benaras georgettes are evergreen and the year 2012 celebrates color in contrasts, with warm hues like golden yellow, cadmium orange, Indian red, bright hyacinth, hot pink, light fuchsia, sea blue-green and royal ink blue dominating.Style tip: Pick the style and colour of your outfit based on your body type. Ink blue, for instance, can make you look slimmer. Larger prints on a bigger body type should be avoided. Shaded colours tend to give you a leaner look.advertisementEarthy femininity: Ishita SinghChic, elegant and comfortable-the words that best describe Ishita Singh’s sense of design. It’s the mantra she follows when dressing film stars and style divas. A NIFT graduate, Ishita has already been around for a decade in the fashion industry and her label, Anhad is all about the use of lots of colour, loads of Indian sensibility, style and simplicity. Ishita has also been designing extensively for films and her designs for actor Genelia D’Souza Deshmukh got her quite a lot of recognition. A socially conscious youngster, she happens to be the first designer in south India to have single handedly organised a fashion show to promote breast cancer awareness in Hyderabad in 2008. Talking about the trends this season she says, “A lot of bubblegum colours like pinks and oranges along with neutrals like dull grays will be in. More fitted silhouettes and sleek cuts will also be seen this season.”Style tip: Let accessories be minimal. A pair of big earrings should be good enough. Or a set of bangles in gold or silver are equally good.Clean cuts: Shravan KumarShravan’s self confessed “ramp to road” creations are a hit with wedding households and high society wardrobes alike. A NIFT graduate, he has been in the fashion industry for about 18 years now with his first breakthrough show being Design 04 at Pragati Maidan, Delhi in 2004. His re-diffusion couture with a definite love for traditional fabrics like kalamkari and namikari has earned him clients all over India and several shows; the latest being the Punjab and Kochi International Fashion Weeks. His collection showcased at the recently concluded Kochi Fashion Week has been inspired by the female matriarchal system in Kerala. While he works closely with weavers, he’s also associated with two NGOs-Passionate Foundation that works towards better education and Impact, which is associated with the treatment of cancer among children. Talking about this season, he says, “There seems to be a colour confusion of sorts, with shades from last season lingering on. So there’s a little bit of everything happening. The look, however, is a clean one with straight lines. Asymmetry is surely out. Frills and flounces are back and so are sheers, laces and net. For the future, the focus is quite certainly shifting rapidly to health fashion.”Style tip: If you’re wearing earrings, do away with the neckpiece; if it’s a statement clutch, go easy on the wrist-allow the focus to be on one eye-catching accessory.The saree soiree: Gaurang ShahHis designs are all about celebrating India and the sari. Perhaps that’s why actor Kiron Kher walked the ramp for Gaurang Shah at the Mumbai Fashion Week Winter Fest by Lakme in August this year. It was a rich collection which won him the Best Indian Designer Award for his kanjeevarams, kalamkari and zardozi saris in festive reds, yellows, pinks and oranges. At the July 2012 Berlin Fashion Week at Lavera Showfloor -Eco Designs Platform, he used a lot of whites and off-whites with splashes of colour. “I cannot work without colour. It’s how we Indians are and it’s who I am.” With no formal education in fashion or textile design, Gaurang learnt pretty much on the job, growing up among saris since his father had been running a textile business for years. Gaurang Shah was raised in Hyderabad and although his roots are in Gujarat, he draws immensely from the aesthetics of the south. Floral motifs are his all time favourite. Another signature motif is the peacock that he uses often in his creations. He believes in first understanding a weaving technique and then coming up with a design accordingly. The result-a healthy dose of texturing that his saris are enriched with. Expect to find unusual creations like a khadi Andhra sari with a pure silk border.Style tip: Choose simple, no-fuss blouses to go with your saris since the focus should remain on the sari, rather than shift to the blouse.last_img read more

first_imgKlopp deflects agent comments on Liverpool exit: It was German humour!by Freddie Taylora month agoSend to a friendShare the loveJurgen Klopp has brushed off comments from his agent saying he could leave Liverpool because of the weather.The Liverpool manager’s agent Marc Kosicke suggested in a recent interview that Klopp could be tempted to switch Merseyside for a hotter destination.Speaking on the eve of Liverpool’s Champions League opener against Napoli, Klopp said: “There is nothing in that story.”He wanted to make a joke so now I have to be serious.”It is German humour but obviously nobody got it…I am completely fine with the weather.”Let me spell it out, the weather has never been a reason for me to choose a city and it’s certainly not a reason for me to leave the country.”Maybe at the moment (in England) it’s the most healthy weather in the world – we have enough rain, it’s cool, pretty much the opposite of this room!”There’s nothing in that story. He’s my agent and my friend.”When I speak about the weather it was about the wind which can have an effect on football, but that is not allowed in England. But that is not to a reason leave the country. I am fine.” TagsTransfersAbout the authorFreddie TaylorShare the loveHave your saylast_img read more

first_imgCalipari tweets about Andrew Harrison following the NBA draft.Calipari’s NBA Draft RecapThe NBA Draft came and went last night and, once again, it was full of Kentucky players. Karl-Anthony Towns went No. 1 to Minnesota, Willie Cauley-Stein went No. 6 to Sacramento, Trey Lyles went No. 12 to Utah, Devin Booker went No. 13 to Phoenix, Andrew Harrison went No. 44 to Phoenix and Dakari Johnson went No. 48 to Oklahoma City. Only one of the Wildcats’ seven draft entrants went unselected: shooting guard Aaron Harrison. Following the draft, Kentucky’s John Calipari, who was in attendance in Brooklyn, tweeted about his former players. He says Aaron Harrison “will be fine.” Six guys get drafted and tie a record, four lottery picks, and another No. 1 pick – it’s been another unbelievable night.— John Calipari (@UKCoachCalipari) June 26, 2015I’m proud of the guys. Our job as coaches is to help these kids realize their dreams. I’m so happy that a lot of lives were changed tonight.— John Calipari (@UKCoachCalipari) June 26, 2015I’m disappointed Aaron didn’t get drafted, but he will be fine. He will be on a summer league team fighting for a position on an NBA team.— John Calipari (@UKCoachCalipari) June 26, 2015How many Kentucky players will get picked in the 2016 NBA Draft?last_img read more

first_imgAdvertisement Advertisement In the opera, which is set in ancient Beijing, the steely princess subjects all her suitors to three seemingly impossible riddles. The price of a wrong answer? Death, of course. But when Calaf (played here by Argentine tenor Marcelo Puente) falls in love with her, he gets all the questions right. Turandot still refuses to marry him, and that’s when he turns the tables, posing a puzzle of his own to the princess.READ MORE Advertisement Facebook The common perception of Turandot’s title princess is that she is a fearsome, all-powerful ice queen with a penchant for chopping her suitors’ heads off. But in Vancouver Opera’s new production of Giacomo Puccini’s outsized final work, American soprano Amber Wagner is tasked with bringing much more to the role.Acclaimed Quebec director Renaud Doucet is focused on finding Turandot’s humanity. “He’s more interested in making it a story that’s believable,” says Wagner, who’s taking on the monumental role for the first time, after years of specializing in Richard Wagner. “Rather than saying ‘Here’s this frozen ice princess,’ how can we make it human so the audience believes it?“This is what opera is really about now,” she adds, on a break before rehearsal, sitting at the O’Brian Centre for Vancouver Opera, sipping on tea to preserve a voice the New York Times has called “powerful, gleaming and richly expressive”. “Renaud’s done quite a good job building a layered and multifaceted back story for her.” Login/Register With: LEAVE A REPLY Cancel replyLog in to leave a comment Twitterlast_img read more

first_imgThe Leela Palace Kovalam. Canadian investment firm Brookfield has signed an agreement to take over four hotel properties of the Leela Group. Picture courtesy: www.theleela.com.Debt-hit hospitality group Hotel Leela Venture will sell its assets to Canada-based private equity firm Brookfield Asset Management for Rs 3,950 crore under a deal that covers four hotels – in Bengaluru, Chennai, Delhi and Udaipur – on a slump sale basis, media reports say. The deal also gives Brookfield a 100 per cent shareholding in Leela Palaces and Resorts Ltd, which holds the licence to develop a hotel property in Agra. These assets account for nearly 80 per cent of Leela’s revenues and 88 per cent of the company’s net worth.The Leela Group will continue to operate a hotel in Mumbai and own some land in Hyderabad and continue to jointly develop residential apartments with Prestige Developers in Bengaluru. Brookfield will have the right of first refusal over the company’s Mumbai hotel.The hotel chain said in a communication to the Bombay Stock Exchange (BSE) that the sale proceeds would go to repay its lenders. “After the completion of the aforesaid transaction, all borrowings of the company from all banks and financial institutions would stand repaid,” the statement said. News about the deal buoyed Hotel Leela Venture share in the National Stock Exchange (NSE) to rise 5 per cent in early trading on Tuesday to touch 11.55 from the previous close of 11. Themed after the Mysore Palace, the Leela Palace Bengaluru, is a luxury destination for the tourist and the businessman. The Leela Group’s deal with Brookfield includes the four luxury properties in the metros. Courtesy: theleela.comUnder the agreement, Brookfield will pay Rs 150 crore for all the intellectual properties of Hotel Leela Venture including the ‘Leela’ brand to Brookfield. The deal also makes the Leela Group sign a separate licence and centralised services agreement for The Leela Hotel, Mumbai, and transfer of leasehold rights for 24,404 square metres of land on Old Airport Road, Bengaluru, to Brookfield, a report in the Business Line says. The two parties will form a joint venture to carry out development activities in the future.Ankur Gupta, managing director and head-India real estate of Brookfield, told Business Line: “The Leela is one of the finest hospitality groups in India and over the years it has gained extraordinary recognition from some of the most prestigious authorities on travel and luxury in the world. We are excited with this opportunity and look forward to completing this transaction at the earliest while ensuring that all operations remain unaffected.”JM Financial Asset Reconstruction Co, which is Leela’s biggest lender, had approached the Mumbai bench of the National Company Law Tribunal (NCLT) seeking proceedings under the Insolvency and Bankruptcy Code (IBC) after the company failed to arrive at a debt resolution plan.The total debt burden of Leela at the end of December 2018 stood at Rs 6,164 crore, the company’s losses having grown to Rs 89 crore in the nine months that ended in December 2018 against Rs 7.42 crore year on year.last_img read more

first_imgEvery year, Bollywood sees a plethora of movie releases and this year is no different for the film industry. Hundreds of Bollywood films are set to release this year, but there are certain releases that have gained immense popularity and generated enthusiasm among audience. One such eagerly awaited directorial venture-Fitoor by Abhishek Kapoor, starring Aditya Roy Kapur, Katrina Kaif and Tabu, will release on February 12. The film is an adaptation of Charles Dicken’s classic novel Great Expectations. Also Read – ‘Playing Jojo was emotionally exhausting’Abhishek Kapoor, an award winning writer-director, who has three prominent films to his credit, started his career as an actor but his acting career did not take off very well. But destiny had some different plans for him as after the success of Rock On, he won multiple awards including India’s Filmfare award for best story and prestigious National award for best Hindi film.Commenting on his acting career, Abhishek, who was recently in the national Capital for the promotion of Fitoor said: “I started my career as an actor but it did not take off very well after which there was a very dark space in my life. The transition period was very difficult for me. I had just stopped writing and after a few years, I produced my first feature film Aryan in 2006, which was based on the story of a boxer and his travails to keep his head high against all odds, through the storms of love, life and everything else in between as he attains self actualisation. Although the movie was not a hit on the box office but it is very close to my heart.” Also Read – Leslie doing new comedy special with NetflixFitoor, which set in Kashmir, is a passionate love story between Firdaus, played by Katrina Kaif and Noor, played by Aditya Roy kapur. Tabu will be seen playing the character of Begum, which is the Indian version of Miss Havisham’s character from the book. The reason why the movie has been set up in the backdrop of Kashmir was also revealed by Abhishek Kapoor. “I have grown up as a child by watching most romantic films set in Kashmir. Those movies left a mark on me and influenced me lot.  “Kashmir is a very beautiful hill station and my film’s story is also like that. Also for a very long duration nobody shot in Kashmir”, said the Rock On director. The movie has been produced by Disney UTV and Guy in the Sky Pictures. On his joint venture with UTV Disney, Abhishek commented, “Guy in the Sky Pictures is my company. I have good relations with UTV Disney and we have done Kai Po Che and now Fitoor together. We are very hopeful that this movie will do well and we hope to collaborate again in the near future.”Commenting on the movie, Abhishek said: “The film will showcase passionate love between the characters. This is the first time that I have done any love story, so it was a totally new experience for me. Although the movie is based on the novel but the storyline is quite different as we have done some modifications from our side.”“It is a story about love which is based on real emotions that everybody faces in their daily lives. We have worked very hard and we hope that people will enjoy it”, concluded Abhishek.last_img read more

first_imgMichael ThorntonThe Society of Cable Telecommunications Engineers (SCTE US) and the Society for Broadband Professionals (SCTE UK) have signed a memorandum of understanding, designed to “address brand confusion”.The pact will address confusion between the two SCTE brands and lay the foundations for developing a longer-term relationship between the two technical education organisations and their affiliated brands, according to the two societies.Together, the organisations said they plan to increase the quality of training outcomes for the benefit of the cable broadband community worldwide.“Our two societies share a common goal of improving engineering standards and skills throughout our industry. Eliminating confusion between our brands is the first step towards global collaboration that can help the industry to maintain – and even increase – its competitive edge,” said Michael Thornton, president, Society for Broadband Professionals.Currently, the Society of Cable Telecommunications Engineers operates globally via the International Society of Broadband Experts (ISBE). The Society for Broadband Professionals operates globally and conducts training through Broadband Training Limited (BTL).last_img read more

first_imgBunto TV, a new advertising-supported video-on-demand service spealising in foreign-language series has launched commercially in the German market.The service, formerly known as Bumerang TV, offers a range of series from countries including Turkey and Spain including Turkish historical drama Muhtesem Yüzyil– The Magnificent Century or Das Osmanische Imperium: HAREM- Der Weg zur Machtin the German version, the first time the series has been dubbed into German.Bunto TV comes from aggregator Govinet Deutschland. The service was initially launched online in December ahead of this week’s full launch.The service debuted is available via the web, on tablets, smartphones and smart TV.last_img read more

first_imgWe are no further along the path to the resolution of the situation that currently exists in both silver and goldThursday was another day where the gold price didn’t do much of anything.  The difference between the high and lows ticks was only about thirteen bucks or so, with the low coming shortly after trading began on the Comex in New York.  Not much to see here.Gold closed at $1,741.60 spot…down $8.30 on the day.  Volume was around 112,000 contracts.It was pretty much the same price action in silver.  The high [around $33.35 spot] came at 10:00 a.m. Hong Kong time…and the Comex low, like gold, came at 8:30 a.m. Eastern time right on the button.  After that low was in, silver climbed to its New York high by 12:10 p.m….and then got sold off to its absolute low of the day…$32.60 spot…which came at precisely 3:00 p.m. in the thinly-traded New York electronic marketFrom there, it rallied a hair into the close…finishing the Thursday session at $32.82 spot…down 38 cents on the day.  Volume was pretty light at 33,500 contracts.The dollar index opened at 79.08 on Wednesday evening in New York, then flopped around that value up until noon in New York yesterday.  At that point a rally of sorts developed…and by shortly after 3:00 p.m. Eastern time, the index was up to 79.40.  From there it traded sideways into the close.  The dollar index closed up 26 basis points, finishing the Thursday trading day at 79.34.The gold stocks gapped down…and then moved lower from there.  The HUI finished on its absolute low of the day…down 2.97%.With the odd exception, all the silver stocks finished down yesterday, but didn’t get hit quite as hard as their golden brethren, as Nick Laird’s Silver Sentiment Index only closed down 2.10%.(Click on image to enlarge)The CME’s Daily Delivery Report showed that only 4 silver contracts were posted for delivery on Monday.  As I said in this space yesterday, unless a surprise buyer shows up demanding a big chunk of Comex silver or gold, it should be pretty quiet for deliveries between now and the end of October.There were no changes in GLD reported yesterday but, surprisingly enough, SLV reported that an authorized participant deposited 871,612 troy ounces of silver.After Wednesday’s big sales report, there was no report from the U.S. Mint on Thursday.There was a fair amount of activity over at the Comex-approved depositories on Wednesday.  They reported receiving 1,496,888 troy ounces of silver…and shipped 806,112 ounces of the stuff out the door.  The link to that activity is here.Here’s a chart that Washington state reader S.A. stole from somewhere.  It shows how well gold has performed, in percent, against the five indexes shown below over the last forty years.  We’ve still got miles to go in this bull market.It was another slow day for hard news yesterday, so I hope you’re able to skim all the stories that I’ve posted below.It is only possible to live happily ever after on a day-to- day basis. ~ Margaret BonnanoThursday was the third day in a row of little or no price action to speak of…either up or down…and the third day in a row that we are no further along the path to the resolution of the situation that currently exists in both silver and gold.There are commentators out there that say we are in lockdown until after the U.S. Presidential election next month…and in the case of the precious metals, there could be some truth in that.  And if that is the case, then the only price action allowed would be to the downside…and I certainly wouldn’t rule that out between now and then.The fact is, that nobody knows for sure, or can know.  All we have is speculation…including mine.  But that obscene and grotesque short position held by the ‘Big 4’ traders is still in place.Here’s the 6-month gold chart…and as you can see at a glance, it’s been pretty quiet price-wise during the last six weeks.(Click on image to enlarge)Today we get the Commitment of Traders Report for positions held at the 1:30 p.m. Eastern time close of Comex trading on Tuesday.  Both Ted and I are expecting some sort of improvment in both gold and silver…and it’s just a matter of how much.  But we’re not expecting a lot.  Whatever the numbers are, I’ll have that for you in tomorrow’s column.Not much happened in Friday trading in the Far East.  Both gold and silver got sold off a bit, the volume was fumes and vapours…and the dollar index was flat, so you can’t read a thing into that price action…although the price pressure was more pronounced in silver than gold.[It’s been a couple of hours since I wrote the above paragraph…and there have been a few changes during that time period.  Both metals have come under more selling pressure starting at 9:00 a.m. BST in London…4:00 a.m. New York time.  It’s particularly noticeable in silver [surprise, surprise!]…as it was down over 60 cents at one point.  Volumes in both metals are up substantially since the London open…over 30% in gold and 50% in silver…but the dollar index is still basically unchanged.] That’s all I have for today.  Since it’s Friday, I have no idea what the New York trading day is going to be like, but if someone put a gun to my head and I was forced to bet a dollar, I’d say that it’s entirely possible that we’ll see some sort of sell off.  And I’d sort of be morbidly happy about it, as I just want the current situation to resolve itself.  I’m praying for up…but in all reality, it’s probably going to be down in the very short term.And as I head out the door, I’d like to remind you that there’s still an opportunity to either readjust your portfolio, or get fully invested in the continuing major up-leg of this bull market in both silver and gold…and I respectfully suggest that you take out a trial subscription to either Casey Research‘s International Speculator [junior gold and silver exploration companies], or BIG GOLD [large producers], with all our best [and current] recommendations…as well as the archives. Don’t forget that our 90-day guarantee of satisfaction is in effect for both publications.Have a good weekend…or what’s left of it, west of the International Date Line…and I’ll see you here tomorrow. Sponsor Advertisement Tosca Mining Corporation’s goal is to acquire advanced stage projects that can be placed into production quickly. The company’s primary asset is the Red Hills Molybdenum/Copper project located in Presidio County, Texas. A program to confirm, and expand the considerable size and potential of the project and evaluate various economic scenarios was completed in 2011. Tosca recently received results from the 13 remaining holes from its phase two, 16,000 M (4,873 m) diamond drill program. Per Tosca’s Chairman, Dr. Sadek El-Alfy, “the drill program has successfully verified historic drill results of the shallow Copper-Molybdenum cap and confirmed the presence of a deeper, well mineralized Molybdenum Porphyry deposit.” The results of 21 holes drilled through the copper/moly cap in Tosca’s 2011 drill program give a weighted average grade of 0.39 % Cu over a core length of 113 feet (34.5 m). Since the copper cap is subhorizontal, the average core length can be interpreted as being approximately equivalent to true width. The copper/moly cap is crescent shaped, approximately 4,000 feet (1220 metres) long and 400 feet (122 m) to 1000 feet (305 m) wide.The 2011 program encountered numerous thick  Molybdenum mineralized intervals including Hole TMC-25 wich  intersected 1,189 feet (362.4 m) averaging 0.089 per cent Mo including 830 feet (253 m) of 0.1 per cent Mo from 359 feet (109.8 m) to the bottom of the hole. Hole TMC-29 cut 989 feet (301.4 m) averaging 0.09 per cent Mo including 139 feet (42.4 m) of 0.16 per cent Mo. The molybdenum grades are similar and in some cases higher than those of projects currently considered of potential economic interest.”Aggressive plans are in place for 2012 to conduct metallurgical tests, produce an updated resource estimate and  Pre Economic Assesment. Tosca is operated by an experienced mine development team, operates in Texas, a  mine-friendly jurisdiction and its property iseasily accessible with infrastructure in place to advance operations. Please visit our website to learn more about the company ad request information.last_img read more

first_imgThe fact remains that prices are set by JPMorgan Chase et alIt wasn’t much of a day in gold yesterday.  Not much happened in Far East trading, but right on cue at gold’s high of the day, such as it was—and two hours before the London open—the selling pressure began.  The low of the day, such as it was, came shortly before 9 a.m. EST in New York.  The smallish rally that developed from there, ran out of gas just before 4 p.m. in electronic trading—and the price didn’t do much after that.The CME recorded the high and low at $1,246.80 and $1,260.70 in the April contract.Gold closed on Tuesday in New York at $1,254.40 spot, down $2.70 from Monday’s close.  Net volume was pretty light at only 101,000 contracts.The silver price didn’t do much either.  It rallied a hair going into the London open, with the low tick coming at the London a.m. gold fix.  After that it chopped higher until minutes after 3 p.m. EST in electronic trading in New York—and then traded sideways into the 5:15 p.m. close.According to the CME Group, the low and high ticks were $19.26 and $19.51 in the March contract.Gold finished the Tuesday session at $19.51 spot, up 17.5 cents from Monday.Platinum and palladium traded sideways until the Comex opened at 8:20 a.m. EST in New York yesterday—and then they got sold down pretty good by “da boyz”.  They recovered a bit in afternoon trading, but both finished down on the day.   You’d sure never know that there were strikes going on at the platinum mines in South Africa based on this price action—and I’m sure that’s deliberate.  Here are the charts. The dollar index closed late on Tuesday afternoon in New York at 81.07—and then chopped very quietly higher in a fairly wide range during the Tuesday trading session.  It did dip briefly below the 81.00 mark minutes after 2 p.m. Hong Kong time, but that only lasted for a few seconds, just like the dips below that mark on Monday.  The index finished the Tuesday trading session at 81.15—which was up a whole 8 basis points.The gold stocks gapped down about a percent at the open—and then struggled mightily to get into positive territory.  They finally succeeded about an hour before the close—and the HUI finished up 0.50%.It was more or less the same chart pattern for the silver stocks, but they had an easier time of it, as Nick Laird’s Intraday Silver Sentiment Index closed up 1.08%.The CME Daily Delivery Report showed that 1,024 gold and 8 silver contracts were posted for delivery within the Comex-approved depositories on Thursday.  In gold, JPMorgan Chase out of its in-house [proprietary] trading account—and Canada’s Bank of Nova Scotia—were the two biggest short/issuers with 643 and 336 contracts respectively.  The only two long/stoppers of note were HSBC USA with 659 contracts—and Barclays with 261 contracts.  All 8 silver contracts were stopped by Canada’s Scotiabank.  Yesterday’s Issuers and Stoppers Report is worth a look—and the link is here.There were no reported changes is GLD, but there was a smallish withdrawal/adjustment for exactly 13,000 troy ounces in SLV.  I suspect the latter reason, as it’s too small to be a legal withdrawal—and not big enough to be a fee payment of any kind.  It’s also a very round number.  But regardless of the reason, it’s too small to matter in the grand scheme of things.Just after 4 a.m. this morning, I got an update on the gold and silver ETFs that are managed by Switzerland’s Zürcher Kantonalbank.  They are updated as of the close of trading on Friday, January 31.  For the reporting week, their gold ETF showed a decline of 58,653 troy ounces—and their silver ETF showed a small drop of 103,686 troy ounces.The U.S. Mint had another sales report.  They sold 2,000 troy ounces of gold eagles—3,000 one-ounce 24K gold buffaloes—and another 234,500 silver eagles.Over at the Comex-approved depositories on Monday, they reported receiving 64,919 troy ounces of gold, the bulk of which disappeared into the vaults over at HSBC USA.  The link to that activity is here.It was pretty quiet in silver on Monday, as these same depositories only reported receiving 18,076 troy ounces of silver—and shipped out 2,045 troy ounces.  The link to that ‘action’ is here.It was a pretty quiet news day yesterday—and I’m more than happy to report that I have considerably fewer stories today than I did on Tuesday.A disturbing aspect to the new silver COT report [on Friday] was that JPMorgan does not appear to be signaling a turn up in silver prices just yet, as the bank added a thousand contracts to its short position. In fact, JPMorgan appeared to be the only commercial short seller in silver for the reporting week, something that happens with disturbing regularity, but not usually as silver prices decline. When you think about it, nothing could be more manipulative. At 17,000 contracts net short, JPMorgan holds a short corner in Comex silver futures of 14.4% on a net basis. With JPMorgan having cornered the Comex gold futures market to the long side—and simultaneously holding a short market corner in silver, there should be little surprise in how prices moved during the reporting week; strong in gold, weak in silver. I don’t deny that the raptors have a strong influence on price and in maneuvering the technical funds to buy and sell, but when you hold a controlling market share (as JPMorgan does), you basically control the market. – Silver analyst Ted Butler: 01 February 2014As I stated at the top of the page, price action was very subdued on Tuesday—and there wasn’t a lot of volume.  I’m sure the fact that China is shut tight until Thursday for their New Year celebrations has something to do with that, but the fact remains that prices are set by JPMorgan Chase et al—and what happens in the Comex futures market is not determined by whether China is open for business or closed.  It does matter in the physical market of course, but “da boyz” are there to ensure that this incredible physical demand doesn’t manifest itself in the price.I noted in Tuesday’s preliminary report from the CME that was posted on their website in the wee hours of this morning, that gold’s open interest in February is now down to 4,058 contracts—and silver’s open interest for the same month is down to 19 contracts.  Of course, as I reported further up in this blog, a bit over a 1,000 gold contracts were posted for delivery tomorrow within the Comex-approved depositories—and you can subtract that number from the February open interest, so it’s now down to 3,000 contracts left.  We’ll have to wait and see how much of that amount the long holders will demand delivery on—and how much of it just fades away as the delivery month progresses.As I type this particular paragraph, it’s about an hour before London opens on their Wednesday—and the price action in Far East trading up to this point is comatose.  Volume is less than half of what it was this time yesterday—and I thought it was fumes and vapours then.  Not even in the period between Christmas and New Years have I seen such low volumes at this time of day.  In gold, volume is only 6,000 contracts—and in silver it’s 2,500 contracts.  The dollar index is dead as well.  Is anybody out there?And as I hit the send button on today’s column at 5:10 a.m. EST, I note that there is some positive price action going on in all four precious metals now that London has been open a bit more than two hours—and it remains to be seen how they fare during the rest of the day, particularly what happens after the noon London silver fix and the Comex open.  Volumes are a bit heavier of course, but still exceedingly light for this time of day—and the dollar index is hanging on to the 81.00 mark by a thread.I hope your day goes well—and I’ll see you here tomorrow.last_img read more

first_img The CME Daily Delivery Report for Day Two of the March delivery month showed that zero gold and another 635 silver contracts were posted for delivery within the Comex-approved depositories on Tuesday.  The two biggest short/issuers were Jefferies and FC Stone with 299 and 100 contracts respectively.  The third and fourth largest short/issuers were Canada’s Bank of Nova Scotia with 67 and JPMorgan with 65 contracts out of its client account.  On the long/stopper side was the one and only JPMorgan in it’s in-house [proprietary] trading account with 573 contracts. In the first two days of the March delivery month, JPMorgan has taken delivery on 997 Comex  futures contracts of the 1,494 silver contracts that have been posted for delivery so far.  That’s a hair under 5 million ounces—and two thirds of all the silver contracts posted in March up to this point.  And the month is still young!  The link to yesterday’s Issuers and Stoppers Report is here—and it’s worth checking out. Just to jog your memory, JPMorgan Chase took delivery of 5 million ounces of silver during the December delivery month as well.  I’ll have more on this in The Wrap further down. There were no reported changes in GLD yesterday—and as of 9:17 p.m. EST last evening, there were no reported changes in SLV, either. The U.S. Mint had a sales report on the last day of the month.  They sold 4,000 ounces of gold eagles—and 78,500 silver eagles.  For the month of February, the mint sold 31,000 ounces of gold eagles—12,000 one-ounce 24K gold buffaloes—and 3,750,000 silver eagles.  Based on these sales, the silver/gold ratio for February works out to 85 to 1.  Considering the fact that there are 16 ounces of silver mined for every ounce of gold, that sales ratio is astonishing—along with the fact that the current gold/silver price ratio is 60 to 1—it’s obvious that silver is outselling gold by a wide margin on a dollar basis as well. There wasn’t much in/out movement in gold at the Comex-approved depositories on Thursday.  They didn’t report receiving any—and only shipped out 1,464 troy ounces.  The link to that activity is here. It was a lot busier in silver, of course, as 412,680 troy ounces were reported shipped in—and a smallish 6,818 troy ounces were shipped out.  The link to that action is here. I didn’t know quite what to expect when I checked out the latest Commitment of Traders Report at 3:30 p.m. EST yesterday.  I certainly wasn’t expecting the worst, but that’s what we got, as the numbers were horrific—and orders of magnitude worse in both gold and silver than either Ted and I were expecting. In silver, the Commercial net short position blew out by another 6,132 contracts, or 30.7 million ounces.  The total net commercial short position is now 194.9 million troy ounces.  I can’t remember how long it’s been since the Commercial net short position has been this high, but I’m sure Ted will have the numbers in his column later today. Ted said that JPMorgan added another 1,000 contracts to its short-side corner in the Comex silver market.  JPM is now net short 18,500 contracts.  Almost all the rest of the increase in the Commercial net short position came from the raptors selling about 4,300 long contracts at a profit, with the balance made up with selling by the ‘5 through 8’ largest traders. In gold, the Commercial net short position increased by a gargantuan 24,912 contracts.  The ‘5 through 8’ largest traders bought about 4,500 long contracts, but it was the raptors that did most of the damage, as Ted said they sold almost 29,500 of their long positions at a profit. According to Ted, the really big surprise was the fact that JPMorgan’s 58,000 contract long-side corner in the Comex futures market in gold didn’t change from the previous COT Report.  They didn’t sell any of their position during the reporting week. The one take-away from this is that despite the huge deterioration in the short positions in both metals, it was mostly raptor selling of long positions [and taking profits] into a short-cover rally that was caused by the technical funds rushing in to cover their short positions as prices rose.  The big market manipulator, JPMorgan Chase, did very little during the reporting week—adding only 1,000 contracts to its silver short position and remaining unchanged in gold. As Ted Butler keeps saying—all eyes should be on what JPMorgan is doing, or not doing, as the case may be.  I’ll have more on this in The Wrap as well. I got an e-mail from Joshua Gibbons, the proprietor over at the About.Ag website yesterday—and here’s what he had to say about Tulving: Hi Ed, I thought you might want to know that it looks like Tulving finally gave up. I was expecting about 35 new complaints this week to update my webpage about Tulving, but there have been no new complaints from the BCA for over a week now, and only 4 from the BBB (3 of which were re-opening old cases, as Tulving did not ship when he had promised the BBB he would). But today the BBB website shows 12 complaints this week that they have categorized as “BBB did not receive a response from business.” So as far as I can tell, he has effectively shut down. The only people who were getting their metal were those who made official complaints (e.g. to the BBB or BCA), so it seems likely that at this point nobody will be getting their metal. He isn’t even responding to as many complaints as he can handle, he just isn’t responding at all. -JG You can read Joshua’s comments on his Tulving webpage headlined “February 28, 2014 – The End.”  I have the usual number of stories for a weekend column—and I hope you can find the time in what’s left of your weekend to read the ones that interest you. In essence, it comes down to how long JPMorgan’s control and manipulation of the silver price can last until some world entity (or entities) decides to take enough of a position in physical silver that creates a shortage. Not only am I convinced that situation must occur; in fact, it had already begun to occur around April 2011, when the world faced the first silver shortage in history. If you remember, one of the key signs of shortage at that time was that the Sprott Silver ETF had to wait for delivery and when it did receive delivery, many of the bars were manufactured after the original order date, indicating no existing bars were available. One other thing that Joshua [Gibbons] pointed out was that of the 8 million oz in 1,000 oz bars that came into the SLV last week (to replace 8 million oz that were removed), 82% were manufactured in 2013 and 18% were made in 2014. We may not be exactly where we were in April 2011 in terms of physical tightness, but there does not appear to be many old silver bars available for sale either. Therefore, we appear to be not that far away from where the physical silver equation was in early 2011. The big difference is that JPMorgan has positioned itself much better than it was back then. I can’t deny that this puts JPM in better potential control of prices short term as it has sufficient physical supply of both gold and silver to head off any shortage for the time being should it choose to let loose of some of its metal. The March COMEX delivery period which starts Friday should be revealing as to JPM’s intentions. – Silver analyst Ted Butler: 26 February 2014 Today’s pop “blast from the past” comes from one David Thomas “Dave” Mason.  I can pretty much guarantee that the name means nothing to you—but the tune he’s remember for, is a classic—and you’ll know it instantly.  The link is here. Today’s classical selection is the Adagio from Mozart’s Serenade No. 10 for winds in B flat major, K. 361/370a which he composed in the early 1780s.  Any fan of the movie Amadeus will know it right away.  It’s all on period instruments—some of which I’m sure you’ve never seen before.  I certainly haven’t.  It’s extraordinary.  The link is here. It was another day where not much happened as far as prices were concerned—and net volume was pretty light in both gold and silver.   I don’t expect this period of quiet to last very long—and it only remains to be seen whether the current situation resolves itself to the upside, or the downside. As Ted mentioned in the quote above, JPMorgan’s intentions in silver in the March delivery period are very clear now.  They’re out for every ounce they can get.  They took delivery of 5 million ounces of the metal in the December delivery month—and now another 5 million in March.  On top of that, they were virtual “no shows” in the COT Report yesterday—only a tiny bit in silver, and not at all in gold. One has to wonder how much physical gold and silver JPMorgan [and maybe the other U.S. bullion banks] are now sitting on that we don’t know about, as there’s no law that says they have to store all their metal in the Comex-approved depositories.  They can hide it anywhere—and as Ted has mentioned on many occasions, SLV and GLD are ideal candidates.  Because as long as they stay under the minimum public reporting requirements for both these ETFs, there’s no way to know exactly how much they hold. Then there was the mysterious silver switch in SLV that Joshua Gibbons told me about earlier this past week—and Ted alluded to in the quote above.  I never mentioned it in this column, as I wasn’t sure what to read into it—and I’m still not sure.  But it involved SLV’s custodian directly—and that is JPMorgan Chase—so I’m really suspicious now that I add their March silver deliveries into the mix. Here’s what Joshua had to say.  I stole it from Ted Butler’s Wednesday commentary to paying subscribers, but I was privy to this information before Ted, so I’m not really stealing anything:  “Joshua also told me that JPMorgan was responsible for 8 million ounces of silver moving into and out from the big silver ETF, SLV, last week. That’s a 16 million ounce turnover and only an entity which dominated a market could arrange such a turnover. This info was also highly supportive of my premise that JPMorgan has amassed an unprecedentedly large physical silver position. At some point, JPMorgan’s actions should prove wildly bullish for the long run in silver, but who knows what these crooks will do in the short term.” So, what to make of all this?  As I pointed out many times in this space over the years, JPMorgan Chase—either the day before, or the day after the drive-by shooting of May 1, 2011 all of sudden started collecting silver at its Comex-approved warehouse in New York.  Now they are within an eyelash of being the largest holder of silver within the Comex-approved depositories—and March’s deliveries should put them over the top, if they have to transfer the silver in from another Comex-approved depository. Too many coincidences for me.  Something is up—but what?  I’m just unsure of when JPMorgan and the rest of the U.S. bullion banks will spring it on us.  I know that Ted has a theory—and I won’t steal a decibel of his thunder by mentioning a word of it here.  I look forward to reading about it in his weekly commentary which will be posted on this website this afternoon EST. In closing, it might be worth your while to jump back into, or increase your exposure to the precious metals once again.  Your best bets for that are Casey Research’s monthly BIG GOLD newsletter—and Casey Research’s flagship publication—Casey International Speculator.  If you go for Casey International Speculator, it includes a subscription to BIG GOLD at no extra charge. It costs nothing to check them out—and Casey Research’s 90-day money back guarantee applies to both. That it for the day—and the week.  I’m off to bed—and I’ll see here on Tuesday. Too many coincidences for me. Something is up, but what? The gold price chopped around the $1,330 price mark until the Comex open on Friday in New York—and at that point gold began to get sold down, with the low coming minutes after the 1:30 p.m. Comex close.  From that low, gold rallied a bit, but wasn’t allowed to get back to its Thursday close. The CME recorded the high and low ticks as $1,333.60 and $1,319.30 in the April contract. Gold closed in New York at $1,328.60 spot, down $3.20 on the day.  Net volume was pretty light at around 113,000 contracts. It was more or less the same price action with the silver equities, but their lows came minutes after 2 p.m. EST—and the rally from there didn’t quite make it back into positive territory.  Nick Laird’s Intraday Silver sentiment Index closed down 0.27%. The dollar index closed at 80.26 late on Thursday afternoon in New York—and when it opened early Friday morning in Far East trading, it didn’t do much until about 9:30 a.m. in London.  Then, in the space of an hour, the index dropped 35 basis points, slicing through the 80.00 mark in a flash—and continued drifting quietly lower for the rest of the day.  The index closed at 79.78—which was down 52 basis points from Thursday. The silver price didn’t do much, either.  It’s Far East low came around 12:30 p.m. Hong Kong time—and from there it chopped sideways until shortly before 11 a.m. a.m. in London.  It’s high tick was at the 8:20 a.m. EST Comex open—and it was all down hill from there, with silver hitting its low tick the same time as gold, shortly after the Comex close.  From there it rallied quietly into the 5:15 p.m. close of electronic trading. The high and low ticks, both of which occurred in New York, were reported by the CME Group as $21.43 and $21.105 in the May contract. Silver finished the Friday session at $21.225 spot, down 3.5 cents from Thursday’s close.  Net volume was pretty decent at 40,500 contracts. The lousy dollar index action had no visible impact on the price of any of the four precious metals yesterday. The gold stocks opened in positive territory, but that didn’t last.  Their low tick came at 3 p.m. EST right on the button.  From there they rallied back into positive territory shortly after 3:30 p.m., only to get immediately sold down for a small loss on the day, as the HUI finished lower by 0.49%. The Energy Sectors You Should Invest in This Year Top energy analyst Marin Katusa, frequently featured in the financial media such as Forbes, Business News, Financial Sense News Hour, and the Al Korelin Show, says two undervalued energy sectors will provide windfalls for smart investors this year. Read his assessment, including which energy investments you should be bullish on for 2014… and which you’d only lose money on. Click here for Marin’s free report, The 2014 Energy Forecast. Sponsor Advertisement Platinum traded within ten bucks of its Thursday open for the entire day.  It was obvious that the price wanted to rally after the Comex opened, but the price was just as obviously capped.  Palladium didn’t do a lot.  Here are the charts.last_img read more

first_imgBut I wasn’t happy to see the big volume The gold price didn’t do a lot up until 1 p.m. BST in London on their Wednesday, as it traded a couple of dollars either side of $1,290 spot up until that point.  Then, at the time mentioned, away it went to the upside, with most of the gains of the day recorded by minutes after 9:30 a.m. EDT.  From there, the price didn’t do much, as it chopped sideways into the 5:15 p.m. EDT close of electronic trading. The CME Group recorded the low and high ticks as $1,288.50 and $1,311.00 in the December contract. Gold finished the Wednesday trading session at $1,305.90 spot, up $17.30 on the day.  Volume, net of August and September, was pretty hefty at 171,000 contracts. It was more or less the same chart pattern for the silver equities, although they managed to finish the Wednesday session up a bit more, as Nick Laird’s Intraday Silver Sentiment Index closed up 2.77%. With some minor variations, platinum and palladium had similar charts patterns as well.  Platinum closed up $10—and palladium finished the Wednesday session up $3.  Here are the charts. Where we go from here is unknown.  Higher perhaps?  Sure, but that monster Commercial net short position in silver is still there—and in gold as well.  So whether yesterday’s price action is the beginning of a new rally, or a temporary respite from the ongoing engineered price declines, it doesn’t change the situation one iota. Of course JPMorgan et al. could get overrun and blown out of the water.  But as Ted Butler has been saying for more than a decade—if they do, it will be for the first time. Here are a couple of charts that Nick Laird sent my way yesterday evening.  They’re the monthly average intraday charts for both gold and silver for the month of July based on the two-minute tick.  Nick computes it by adding up every two-minute tick from each trading day—and averages them out for the month—and it produces the two charts below—the first for gold—and the second for silver. And as you can see, the daily price has a pattern in both metals once the “noise” is averaged out.  The downside price pressure in both metals begins about an hour after the London a.m. gold fix—and ends at 11:30 a.m. in New York.  Ditto for silver.  As a matter of fact, the gold and silver charts are virtual carbon copies of each other over the entire 24 hour periods. This sort of price pattern would never occur in a free market—ever! Sponsor Advertisement After the obligatory downtick at the New York open on Tuesday evening, it was more or less the same chart pattern in silver on Wednesday.  The metal began to rally sharply at 1 p.m. BST as well—and the spike high at 9:30 a.m. EDT got hammered back down to the $20 spot mark within minutes.  After that, like gold, it traded within a few pennies of that price for the remainder of the day. The low and high ticks were recorded as $19.77 and $20.135 in the September contract. Silver closed yesterday at $20.005 spot, up 26.5 cents from Tuesday’s close.  Net volume was way up there once again at 45,500 contracts. Once again I have a very decent number of stories—and I hope you have the necessary time to read the ones that interest you the most. One question that has never been answered by those denying that the COT reports are accurate, is why in the world would the CFTC publish data which provided proof of a silver manipulation by intentionally misreporting the data? There have been times in the past several years where JPMorgan held 40% of the short side in Comex silver; why would the CFTC report that if it wasn’t true? To those that may suggest JPMorgan’s concentrated short position was even greater, perhaps that may be true, but the market share was great enough to prove manipulation as reported. More than ever before, the changing structure of the COT reports has come to represent the sole reason for price movement on the Comex, with actual supply/demand fundamentals not mattering at all. That’s why, despite allegations the reports can’t be relied upon, more analysts and commentators than ever before have embraced the COTs as an important market tool. Ask yourself this – if it were not for the remarkable changes in the COT structure this year in Comex silver, gold and copper, what else could possibly explain the price moves to date? – Silver analyst Ted Butler: 06 August 2014 I was happy to see the nice rallies in all four precious metals yesterday, but I wasn’t happy to see the big volume associated with both gold and silver.  It was obvious, whether the rally was short covering or new long buying as the 50-day moving average in gold was broken, that JPMorgan et al. were going short against all comers in order to cap the rallies—and that’s why the volume was as high as it was. All the improvements in the Commercial net short position that occurred on Tuesday, were totally negated by the end of trading on Wednesday.  So we’re almost back to square one—and tomorrow’s Commitment of Traders Report is most likely “yesterday’s news” already. Here are the updated six-month charts for both gold and silver. I took this photo yesterday morning.  It’s a Sphinx Moth caterpillar trying hard not to be noticed.  This moth is rare this far north in Alberta, so I was rather surprised to find this critter—and for a caterpillar, it was pretty chunky. The CME’s Daily Delivery Report for Day 5 of the August delivery month showed that only 10 gold and 2 silver contracts were posted for delivery within the Comex-approved depositories on Friday.  Nothing to see here. And checking the CME’s Preliminary Report for Wednesday, I note that gold open interest for August is now down to 2,618 contracts.  Silver’s open interest in August is currently a dozen contracts or so.  But total open interest in gold blew out by more than 8,100 contracts with Thursday’s price action, however silver’s total o.i. was flat.  The gold number is not a surprise, but the silver o.i. number, is.  However, it’s dangerous to read too much into these preliminary numbers. There was a withdrawal from GLD yesterday, as an authorized participant removed 76,974 troy ounces—and as of 7:38 p.m. EDT yesterday evening, there were no reported changes in SLV.  But when I was editing today’s column at 3:45 a.m. EDT, I noticed that an authorized participant had added 767,711 troy ounces of silver. The U.S Mint had its third sales report in as many days, as they sold 2,000 troy ounces of gold eagles—500 one-ounce 24K gold buffaloes—and 380,000 silver eagles. There was more movement in gold over at the Comex-approved depositories on Tuesday, as 26,692 troy ounces were reported received—and 353 troy ounces were shipped out.  The link to that activity is here. Ted pointed out something that I’d missed in Tuesday’s column on Comex gold inventories—and that was the fact that the 595,102 troy ounces that the report showed withdrawn from JPMorgan on Friday was, with the exception of a few ounces, totally reversed in Monday’s report from the Comex. It was a decent day in silver, as 55,676 troy ounces were reported received—-and 778,776 troy ounces were reported shipped out.  The link to that action is here. Here’s the 5-minute tick gold chart from yesterday—and note all times are MDT, so add two hours for EDT.  The chart runs from 11:30 p.m. on Tuesday evening Denver time, up until the 5:15 p.m. EDT close of the electronic market in New York yesterday—and once again I thank reader Brad Robertson for passing it along.  Note the huge volumes that were associated with yesterday’s rally. And as I write this paragraph, the London market has been open about 10 minutes on their Thursday morning.  The gold price has barely twitched since the New York closed yesterday—and it’s only up a couple of bucks at the moment.  And it’s been mostly the same in silver, as the price is up only a penny or two.  But platinum and palladium have rallied a decent amount.  Gold volume is extremely light—and silver volume is almost nonexistent.  The dollar index is up a small handful of basis points. As is almost always the case, there is no follow-though in the rallies that begin [and end] in New York trading. And as I send this off to Stowe, Vermont at 4:55 a.m. EDT, I see that all four precious metals have rolled over a bit.  Both gold and silver are down a fraction—and a lot of the gains that platinum and palladium had, have disappeared.  Gold volume is now a bit over 20,000 contracts, but is increasing at a crawl at the moment.  Silver volume is higher as well, but very much on the extremely light end of the spectrum.  The dollar index is now up a slightly larger handful of basis points. After yesterday’s price action, nothing will surprise me when I power up my computer later this morning—and it shouldn’t surprise you, either. I hope your day goes well—and I’ll see you here tomorrow. Not surprisingly, the gold stocks gapped up more than 2% at the open—and did manage to tack on a bit more in the way of gains later in the day, but got sold down off their highs in the last thirty minutes of trading.  The HUI finished up 2.30%. Freegold Ventures Limited is a North American gold exploration company with three gold projects in Alaska. Current projects include Golden Summit, Vinasale and Rob. Both Vinasale and Golden Summit host NI 43-101 Compliant Resource Calculations. An updated NI 43-101 resource was calculated on Golden Summit in October 2012 and using 0.3 g/t cutoff  the current resource is 73,580,000 tonnes grading 0.67 g/t Au for total of 1,576,000 contained ounces in the indicated category, and 223,300,000 tonnes grading 0.62 g/t Au for a total of 4,437,000 contained ounces in the inferred category. In addition to the Golden Summit Project the Vinasale also hosts a NI 43-101 resource calculation which was updated in March 2013. Indicated resources are 3.41 million tonnes averaging 1.48 g/t Au for 162,000 ounces, and Inferred resources are 53.25 million tonnes averaging 1.05 g/t Au for 1,799,000 ounces of gold utilizing a cutoff value of 0.5 grams/tonne (g/t) as a possible open pit cutoff. Please send us an email for more information, ir@freegoldventures.com The dollar index closed late on Tuesday afternoon in New York at 81.53—and then chopped sideways in a tight range until 9 a.m. BST in London yesterday morning.  From there it rallied up to 81.70 by 11:30 a.m. BST.  Then it was pretty much all down hill into the close, as the index finished the Wednesday session around 81.43, which was down 10 basis points on the day.last_img read more

first_imgIn This Issue. * Brazil hikes rates 50 Basis Points! * Poland cuts rates 25 Basis Points * Euro in free fall. * China touts renminbi as “The World Currency”. And Now. Today’s A Pfennig For Your Thoughts. ECB To Announce Details Of QE. Good day.. And a Tub Thumpin’ Thursday to you! I don’t feel much like Tub Thumpin’ right now. In fact, I almost made a call to the bullpen this morning. But today is a lot like most days, I’ll soldier on, and eventually I’ll feel better.  Todd Rundgren greets me this morning with his song: It Wouldn’t Have Made Any Difference. Todd had a couple of other songs that are better known, but this one is my fave from him. All the focus in the markets has already shifted to tomorrow’s Jobs Jamboree. UGH! Let’s listen to the words of Todd Rundgren when we think of the Jobs Jamboree. Well, it wouldn’t really make any difference.. I’m sorry, but that’s how I feel about the monthly BLS (bureau of labor statistics) print of jobs created for the previous month.. The BLS doesn’t count widgets the same way you and I do, and therefore I say it’s all hogwash, but the markets are still enamored with the BLS print, so I have to pay attention to it. UGH!  And I may be ahead of myself a little with the statement that the focus has already shifted to tomorrow’s Jobs Jamboree. We have the European Central Bank (ECB) meeting to get through this morning first. This is the meeting that the ECB President, Mario Draghi will announce the details of his all-out Quantitative Easing/ QE..   And my question of the other day, when I asked if all the bad stuff associated with QE had been priced in the euro already, has been answered in the last 48 hours, as the euro has been in a free fall.. in that time frame. Don’t peek at the currency roundup! I’ll tell you right here, right now that the euro is trading with a 1.10 handle at 1.1050 this morning. That sure looks strange to me. Next stop? Parity? I wouldn’t bet against it, all you have to do is go back and see how badly the dollar was beaten about the head and shoulders from March 2009 to the “discovery” of Greek debt being too large, to see the damage a major currency goes through when QE is a part of their monetary policy.  Going into today’s ECB Meeting, we already know the broad strokes of Draghi’s plan to buy EUR 60 Billion of bonds each month until they have 1. Ruined the value of their currency, and 2. Bloated their balance sheet to levels that would rival the U.S. Fed’s Balance Sheet. I read on the Bloomberg yesterday that Goldman Sachs thinks that the euro will fall to 90-cents in 2016. OUCH! Now that’s going to leave a mark! I sure hope that’s not the case, although, I’m reminded of how when Goldman Sachs says something, they make sure it happens. Or at least it seems that way.  I sure would like to have that kind of power over the markets.. That would be Tre’ Cool!  Or maybe it would be a curse?  Oh well, either way, I don’t have it, and Goldman Sachs does! So with the euro in a free fall right now, the other currencies are finding it to be very difficult to carve out a gain VS the almighty dollar. One currency that is bucking the dollar strength is the Canadian dollar / loonie. The loonie got a BIG lift yesterday that has carried over to this morning, when the Bank of Canada (BOC) left rates unchanged and said that they see inflation risks as more balanced since they cut rates in January. That’s a good thing to hear from a Central Bank, that they believe the risks are balanced for when they are there’s no need to move interest rates. Let the markets work out the excesses, and so on. Another thing weighing on the euro this morning, is the weakness shown in the latest Factory Orders data.  German Factory Orders fell in January -3.9% from December.. Now, calmer heads would look at this print and say, but.. .The data since January has ticked up so, this is old news. While the hot heads look at this print and say, there’s a weak spot in the recovery.  I find it interesting that a weak Factory Orders print here, causes euro weakness, but a negative Factory Orders print in the U.S. gets shrugged off because the Fed says the economy is recovering so well that they will have to raise rates soon. As IF!  Well, I told you a couple of days ago, that Brazil would probably hike rates again at this week’s Brazilian Central Bank (BCB) meeting. And that’s exactly what happened yesterday, the BCB hiked rates by 50 Basis Points (1/2%) to bring their internal rate, which they call the Selic Rate to 12.75%… WOW! But it didn’t stop the bleeding in the real. At what rate will it stop the bleeding? Only the Shadow Knows. And a Central Bank that we don’t talk about much, the Polish Central Bank (PCB) cut rates yesterday, 25 Basis Points (1/4%).  Bringing their internal rate to 1.5%… Now that’s crazy isn’t it? An Emerging Market without a risk premium to pay to lenders? I’d say it is.. But it is what it is, and that’s the state of things today. Well, it was widely expected, but that doesn’t always mean it will happen, but this time it did. China moved their forecast for Growth down to 7% from 7.5%… Come hell or high water, the Chinese will see to it that 7% is achieved, you can bet your sweet bippie on that!  The renminbi /yuan is a tad weaker this morning. I had a dear reader sent me a picture of a billboard that the writer of the article encountered after landing in Thailand. As he left the airport, there was a HUGE Billboard announcing the RMB (renminbi) as The World Currency.   Well, apparently that’s how the Chinese Gov’t thinks about their currency.  The writer goes on to talk about how China is in deep dookie right now with their economy, but, these are things that countries go through valleys and peaks.  Sound a lot like what I always tell you, eh?  You know.. I’ve talked at length about China and what their plans seem to be per my opinion, and it occurred to me the other day, that I had been missing something that I should have pointed out many moons ago. the fact that China has been working so diligently on the currency swap agreements with countries that remove the dollar from the terms of transaction. That’s a given, but what I didn’t follow up on with you, is that now that they have these countries accepting renminbi / yuan, the Chinese need to make certain that the renminbi / yuan remains “stable”, otherwise, these countries that accept renminbi will just unload it immediately, and that’s not what the Chinese want. They want these countries to hold large sums of renminbi in their reserves, this is one of the key steps toward the float of the renminbi, and moving it toward the head of the class for reserve currencies. Recall about a month ago, I talked about how I thought Denmark was greasing the tracks for dropping the peg to the euro? Well, that thought caught on and a lot of “hot money” flowed into Denmark in anticipation of a drop of the peg. Well, I read earlier this morning, that the “hot money” was giving up and leaving Denmark. So soon? Did you guys really think that something like this would happen overnight? I mean just because the Swiss National Bank (SNB) threw a cat among the pigeons when they came out of left field to announce that they had dropped their peg on the euro cross, doesn’t mean the same thing would happen in Denmark. I’m going to continue to keep a light on for this thought. It was kind of a nothing gained, nothing lost day for Gold yesterday. The shiny metal traded up to $1,208 and as low as $1,197.  there are some cents on those prices, but I rounded them to the whole dollar.  There wasn’t much going on to really put wind in the sails of Gold, yesterday, but today, we could very well see Gold get some wind in its sails, given the ECB QE meeting. But when you think about it, Gold doesn’t really have to move to gain in value VS euros, with the euro in a free fall. The other precious metals of Platinum and Palladium are sure being volatile these days, with wild swings going both ways in both metals.. yesterday was not one of those volatile days, so that was good, as they added a couple of bucks respectively. I saw the other day that new vehicle sales here in the U.S. are still strong, but printed weaker last month than the previous month and the expectations. Both of these metals are used in catalytic converters, so new car sales are important to them. The U.S. Data Cupboard had the Fed’s Beige Book to deal with yesterday, and in the Book there was little change from the previous month’s book, and the Fed regional presidents still think that there will be continued expansion in early 2015.. Hmmm.  Where’s the Beef?  No really, Where’s the Beef?  Someone needs to gather up the first 3 months to date, of economic data, and present it to these regional presidents, to show them there has been no “continued expansion” in the early part of 2015, and if there’s been anything, it’s more like a contraction, not an expansion. So, wake up! Come on sleepy head, Wake Up! The U.S. Data Cupboard today, might be snowbound. Yes, that’s right, a message on the Bloomberg tells me that weather in Washington D.C. might delay data releases.. Too bad that won’t be the case tomorrow for the Jobs Jamboree!  But anyway, we do have some data today, like Factory Orders for January. Remember, December’s print was a negative -3.4%, and then the usual Weekly Initial Jobless Claims will also print today. For What It’s Worth.. Well, since I spent a few extra minutes on China today, I thought that this would play nicely in the sandbox with those earlier thoughts. You can read the whole article here if you so wish to do so: http://www.shanghaidaily.com/business/finance/Securitization-seen-to-double-this-year/shdaily.shtml “CHINA’S nascent securitization market may double this year as the regulator simplifies issuance procedures and falling interest rates will support investment demand, Moody’s Investors Service said yesterday. Securitization refers to the practice of pooling debts like mortgages, auto loans, credit card debts and corporate loans to a third party as securities. China launched the practice in 2005 but stopped it on risk management concerns during the 2008 financial crisis as opaque operations in the US securitization market caused great losses to investors and a triggered global turbulence. China allowed the practice again in 2012 and the interbank securitization market boomed in 2014 to 280 billion yuan (US$45 billion) from about 16 billion yuan in the previous year.” Chuck again.. I’ve explained before that the opening up of the Chinese capital markets to outsiders is an important step in the goal to remove the dollar as the reserve currency. So, we’re beginning to see signs that this is going to take shape this year, into next year. To recap. First the ECB announcement of the details of their all-out QE, and then all focus will shift to tomorrow’s Jobs Jamboree. The euro is in a free fall and dragging most currencies through the mud with it. The Canadian dollar / loonie is bucking the trend, as the BOC left rates unchanged yesterday and said that the risks were balanced, something every Central Bank would love to be able to say!  Brazil hike rates 50 Basis Points and Poland cut rates by 25 Basis Points. Gold saw a nothing gained nothing lost day, and Chuck takes issue with the Fed’s Beige Book findings. Currencies today 3/5/15. American Style: A$ .7810, kiwi .7510, C$ .8045, euro 1.1060, sterling 1.5245, Swiss $1.0335, . European Style: rand 11.7725, krone 7.7295, SEK 8.3370, forint 276.30, zloty 3.7440, koruna 24.7940, RUB 61.26, yen 120.15, sing 1.3685, HKD 7.7555, INR 62.16, China 6.1528, pesos 15.09, BRL 2.9910, Dollar Index 96.15, Oil $52.02, 10-year 2.12%, Silver $16.19, Platinum $1,181.23, Palladium $826.58, and Gold. $1,201.15 That’s it for today. Well, a I’ve been up for almost 3 hours now, and I’m beginning to feel better, so I have that going for me! The sun is rising and it looks like it will be another beautiful day. I told you a couple of months ago, how I was trying to be more active and walking around the small lake we have close to us here. But then my “good hip” began to give me trouble, and so I stopped for a few weeks, and then with the pain subsided, I decided to get back to walking yesterday. OMG! I was knocked on my derriere! You know me, I didn’t take it slow and just try to get back to where I was. And I paid the price! Pink Floyd is playing their song: Shine On You Crazy Diamond, Parts 1-7 on the iPod right now, it’s 17 minutes long, so it will still be playing as I send this out to be reviewed!  The Cardinals start their Spring Training Games today. YAHOO! They are the away team today, and the first home game is tomorrow!  Our Blues play the Flyers tonight in Philly. I remember the time many years ago, when in Philly the fight on the ice turned into Blues players going into the stands after people that threw stuff at them. Ah, the boys just got a little wound up on a Saturday night, eh?   Alrighty then, time to go!  I hope you have a Tub Thumpin’ Thursday! Chuck Butler Managing Director EverBank Global Marketslast_img read more

first_imgThe bond “super bubble” is coming to an end. For the last three decades, U.S. bond prices have been in a steady uptrend. This epic bond bull market survived three recessions, the dot-com crash, and the 2008–2009 financial crisis. Because of this, bonds have become very popular with investors. You can see why in the chart below, which shows the Dow Jones Equal Weight U.S. Corporate Bond Index since 1997. This index tracks the performance of U.S. corporate bonds. As you can see, a $100,000 investment in corporate bonds 20 years ago would now be worth more than $360,000. What’s more, corporate bonds did relatively well during the violent stock selloffs that occurred in 2000–2002 and 2007–2009. • Unfortunately, Trump’s pro-growth policies could come at a steep price… For one, inflation could take off. We could also see more deficit spending, more debt, and more currency debasement. Plus, problems in the bond market could spill over into other assets, like stocks. Dalio wrote yesterday: The question will be when will this move short-circuit itself—i.e., when will the rise in nominal (and, more importantly, real) bond yields and risk premiums start hurting other asset prices. Gundlach is also worried about the side effects of rising yields. Barron’s reported: “[T]he structure of the U.S. economy and the pricing of the stock market are predicated on 1.5% Treasury yields and zero short-term interest rates.” Rising rates would hurt the U.S. housing market and possibly dent corporate stock-buyback programs. Buybacks helped boost share prices in recent years and were funded, in many cases, with borrowed money. A buyback is when a company buys its own shares off the marketplace. Since the financial crisis, Corporate America has borrowed enormous sums of money to pay for buybacks. As we’ve explained many times, buybacks are a big reason stocks have kept rising even though earnings have been falling. If rates keep rising, it will become much more expensive for companies to borrow money…and that could kill the buyback craze. In short, the stock market could lose one of its biggest sources of demand. • To be clear, we aren’t saying higher rates will kill the buyback craze overnight… But it’s something we’re going to keep a very close eye on. It’s also something to think about before diving headfirst back into stocks. • In case you missed it: Casey Research founder Doug Casey just did another must-see interview… In this interview with Emancipated Human, Doug discusses his new novel, Speculator…his views on spirituality and morality…what he wants to do more of at this stage in life…and why he thinks the Rolling Stones are “the greatest rock and roll band in history.” You can enjoy this entertaining interview by clicking here. • FINAL REMINDER: Porter is hosting his much-anticipated webinar this evening…  If you’ve been reading the Dispatch, you know Stansberry Research founder Porter Stansberry sees a major financial crisis on the horizon. To help investors prepare, he’s shared some of his best ideas for free. He’s also found a way for you to make 10 or even 20 times your money during the coming crisis. Tonight, Porter and his team will finally reveal their Big Trade in a special live webinar. If you’ve already signed up for this event, don’t forget to tune in. If you haven’t signed up, you can do so by clicking here. This special event begins at 8:00 p.m. ET. Click here to reserve your spot. Chart of the Day Dividend-paying stocks are getting crushed… Today’s chart shows the performance of telecom stocks, real estate stocks, and utility stocks over the past month. All three of these sectors are known for paying steady, often generous dividends. When bond yields are low or falling, many investors like to own these stocks. When yields are high or likely to rise, investors don’t like these stocks as much. That’s because it’s easier for them to earn decent income in other assets, like bonds. Over the past month, telecom stocks are down 7.5%. Real estate stocks are down 4.2%. Utilities have fallen 4%. According to MarketWatch, these are the three worst-performing sectors in the S&P 500 over that stretch. If rates keep climbing, these stocks should continue to lag the market. Keep this in mind if you own stocks in these sectors, or any stock that you bought mainly for its dividend. Recommended Links Why Are Investors Obsessed with this Small Farmer?  He’s got doctors, lawyers, millionaires, and scores of thousands of regular Americans tuning in… It has to do with a warning he put out all the way back in the early 90s… And how it’s about to change your life… Find out why here. — – 112 Billionaires Buying Gold in Anticipation of December Announcement All over the news, billionaires like George Soros and John Paulson are buying gold hand over fist. But unknown to the mainstream media, a group of 112 billionaires are poised to begin a historic gold buying spree. They’re preparing for a major December announcement that could rock markets… And spark a $3 TRILLION wave of buying that sends gold to $5,000, virtually overnight. There’s no time to sit on this one. Click here for the full story. Many investors have gotten used to making safe and steady returns in bonds. But it looks like those days are over… • Over the last few months, bond yields have skyrocketed… A bond’s yield rises when its price falls. The yield on the U.S. 10-year Treasury has jumped from a record low of 1.37% in July to 2.23% today. We’ve seen similar spikes in two-years all the way up to 30-years. The same thing is happening overseas. Yields on French, Italian, and British government bonds have all hit multi-month highs over the last few days. This is a huge deal. Just four months ago, MarketWatch reported that global interest rates reached the lowest level in 5,000 years. • Still, you might not be worried about this if you don’t own any bonds… But you must understand that the bond market is a cornerstone of the global financial system. If it unwinds, it’s going to impact everything from stocks to the economy at large. We’ll explain what could happen in a minute. But first, let’s look at what some of the world’s smartest investors have to say about this. • Ray Dalio thinks bond prices have peaked… You’ve probably heard of Dalio. He manages more than $150 billion at Bridgewater Associates, the world’s largest hedge fund. Yesterday, Dalio explained why he thinks the bond market’s topped out: [W]e think that there’s a significant likelihood that we have made the 30-year top in bond prices. We probably have made both the secular low in inflation and the secular low in bond yields relative to inflation. In the investing world, secular means long-term. In other words, Dalio’s saying bond yields and inflation rates have bottomed. Now, we know higher bond yields are bad for bond prices. But rising inflation is also bad for bonds. Inflation measures how fast prices for everyday goods and services rise. The higher the inflation rate, the faster everyday prices rise. High inflation is obviously bad for the average person. It means the money in their wallet doesn’t go as far. It’s also bad for people who own bonds. That’s because inflation eats away at a bond’s future payments. • If Dalio’s call sounds familiar, it’s because we’ve been saying the same thing for weeks… On October 19, we told you that bondholders could take heavy losses if inflation keeps rising. More recently, we’ve shown you plenty of reasons why inflation is likely headed higher. This is clearly bad news for bonds. Unfortunately, many people are still on the wrong side of this trade. Dalio wrote yesterday: When reversals of major moves (like a 30-year bull market) happen, there are many market participants who have skewed their positions (often not knowingly) to be stung and shaken out of them by the move, making the move self-reinforcing until they are shaken out. • Jeffrey Gundlach also thinks the 30-year bull market in bonds is over… Like Dalio, Gundlach is a world-class investor. He runs DoubleLine Capital, an investment firm that oversees more than $100 billion. He’s also one of the world’s leading bond investors. He’s known on Wall Street as the “Bond King.” According to Barron’s, Gundlach turned bearish on bonds months ago: Gundlach says, he turned “maximum negative” on bonds on July 6, two days before the 10-year Treasury yield hit a multidecade closing low of 1.366%. He predicted shortly thereafter that the 10-year yield would top 2% by year end. Gundlach’s prediction was spot-on. Remember, the U.S. 10-year currently yields 2.23%. Since the election, Gundlach’s become even more bearish. Barron’s reported over the weekend: Trump’s pro-business agenda is inherently “unfriendly” to bonds, Gundlach says, as it could to lead to stronger economic growth and renewed inflation. Gundlach expects President-elect Trump to “amp up the deficit” to pay for infrastructure projects and other programs. That could produce an inflation rate of 3% and nominal growth of 4% to 6% in gross domestic product. “If nominal GDP pushes toward 4%, 5%, or even 6%, there is no way you are going to get bond yields to stay below 2%,” he says. In a way, this is good news. After all, what American wouldn’t want the economy to grow faster? Regards, Justin Spittler Delray Beach, Florida November 16, 2016 We want to hear from you. If you have a question or comment, please send it to feedback@caseyresearch.com. We read every email that comes in, and we’ll publish comments, questions, and answers that we think other readers will find useful.last_img read more

first_imgWhat would happen if global health innovators appeared on “Shark Tank,” the reality TV show that judges business concepts from straightforward to zany?It’d probably look a bit like the pitch competition the late July DevelopmentXChange conference in Washington, D.C. The event was organized by Saving Lives At Birth: A Grand Challenge For Development, a program that gives out grants to projects helping to improve medical care for moms and babies in low-income settings. It’s funded by groups like the Bill and Melinda Gates Foundation and the U.S. and U.K. government. (Note: As readers of Goats and Soda may know, the Gates Foundation is also a funder of this blog and of NPR.)The ten participants showcased a variety of innovations, each in different stages of development: medical devices that can work without electricity, new ways to administer medications and high-tech strategies to give women timely medical advice. All have previously received anywhere from $250,000 to $2 million from the program.Now, Saving Lives At Birth wants to help their grantees kick it up a notch.Cue the pitch session. If these global health projects want to scale up, they need to know how to communicate their vision, grab investors’ interest and attract more funds, says Sofia Stafford, a program assistant at USAID, one of the partners of Saving Lives At Birth.Each competitor was paired with business consultants who helped them tighten their speeches and create spiffy PowerPoints.Many of the innovators, who come from nonprofit groups or the academic world, had to start from scratch on their presentations, says Rachele Haber-Thomson, one of the coaches. They knew how to apply for funding through grants — but didn’t have experience pitching to investors, who expect concise explanations and savvy business plans, she says. So she encouraged the innovators to develop “a hook” when explaining their projects and “think about what would you tell someone at a cocktail party.”The competitors had seven minutes to lay out the problem they’re addressing, describe their solution and get into the nitty-gritty of how they’d make it work. Then a panel of judges — including experts in reproductive health, technology and strategic communications — peppered them with seven minutes of questions. The judges scored the whole shebang based on several factors, including target market, competition and revenue model.The winner would get either a sponsored trip to another Saving Lives at Birth event in Berlin this October or free consulting services from a communications firm. But there’s no cash handed out — although there could be financial benefits from the 7-minute pitch. The audience included people who might be interested in ponying up cash: representatives from investment firms, tech companies, nonprofits and the pharmaceutical industry.First up on the stage was an Australian physicist named Bryn Sobott, who immediately got the room’s attention by showing a short video of a coughing baby. Pneumonia is the leading infectious disease killer of kids worldwide, with nearly 1 million deaths a year of children under age 5. He told the audience that a key to treatment is something widely available: oxygen. The problem is that there isn’t always electricity around to deliver that oxygen in the developing world, which is why the FREO2 Foundation has created — and is currently testing in Uganda — an oxygen concentrator that can operate just on energy harnessed from running water.Who could compete with that? Try the next pitch presenter, Edward Bitarakwate. He opened with this line: “Imagine a world where children are born without the risk of HIV.” The pediatrician is the Uganda country director for the Elizabeth Glaser Pediatric AIDS Foundation, and he presented its plan to make sure that every HIV-positive mother delivering a baby at home has a Pratt Pouch, a squeeze packet containing just the right amount of anti-AIDS drugs to help prevent transmission of the virus to the newborn. Design of the pouches is complete and a facility to make them is about to be certified, he said, so the next step is making them available nationally.Inspired ideas kept on coming, often with a gee-whiz tech angle. Ibrahim Modehas of the University of Michigan introduced the room to SubQ Assist, a device that makes it possible for virtually anyone to insert a long-acting contraceptive device under the skin of a woman’s arm. It could dramatically increase the number of women around the world with access to birth control, he said.Chelsea Schiller, from the global health nonprofit PATH, laid out the case for the SafiStation chlorine generator. It allows hospitals to produce their own disinfectant on site. Mix salt and water, pour it in the device, press a button and voila.In the end, the judges picked Gradian Health Systems as the winner. The group is best known for its universal anesthesia machine that continues to work even in the event of a power outage. But this pitch focused more on Gradian’s plans to create a network of mobile training centers to teach skills to health workers that can boost the quality of medical care in places where doctors are scarce.The idea is to help health providers get the practice they need to treat patients by using mannequins. For example, one mock operating scenario might center around someone who’s been injured in a car accident and must have a tube inserted in his or her larynx. Then, the lights go off. “You have to figure out what you have to do,” said Adam Lewis, Gradian’s communications and marketing manager, in his presentation.Gradian was named the winner for its pitch. “It doesn’t matter how sexy it [an innovation] is if you don’t look at the unsexy sides of it,” says Lewis.But for Lewis, the real takeaway was just the chance to put together a polished presentation. It forced Gradian to examine its work and practice communicating that message to others, he says. Before, when a potential funder asked what Gradian needed, it was a scramble.”Now, we have an approach [when talking to investors],” he says. “It’s going to change the course of our business.”Vicky Hallett is a freelance writer who regularly contributes to NPR. Copyright 2018 NPR. To see more, visit http://www.npr.org/.last_img read more

first_imgGoats (and sheep) have been recruited in the effort to fight wildfires.Northern Spain has a “Fire Flocks” project, in which dozens and dozens of the ruminants chip in by doing what they do so well: eat.A new video from BBC World Hacks, which highlights “brilliant solutions to the world’s problems,” tells the story. It was published on October 11.”They eat what is the fuel for fires,” says Sergi Nuss, who runs the project, which is based in Girona, an area where there were recurrent wildfires in summer.By chowing down on grass and the leaves of young trees and bushes, the goats and sheep can help reduce the chance that a fire will spread through grasslands and treetops.An added bonus is that the project creates more work for shepherds, who are a disappearing breed. To further boost the career prospects of shepherds, the Fire Flocks group encourages local butchers to promote the sale of goat meat.It is worth noting that goats and sheep are a bit different in their consumption habits. Sheep are mainly grazers, with their head down in the grass, while goats are more adventurous and will climb trees to browse for supper. But in the BBC’s inspiring video of their fire-fighting efforts, the livestock appear to have no problem getting along amid the greenery. Copyright 2018 NPR. To see more, visit http://www.npr.org/.last_img read more

first_imgIt’s a cotton T-shirt. It costs $395. It’s from Balenciaga, the luxury brand. And it bears the logo of the World Food Programme, the U.N. agency that provides food aid to disaster zones.The shirt is part of a line of WFP-emblazoned streetwear, with some of the proceeds going to the charity. The collection, which also includes a $790 sweatshirt and $850 fanny pack, launched last year, and people in the aid community are debating: Is this a good way for a charity to promote itself?The idea of buying an item of clothing, with a portion of the purchase price donated to a good cause, has been around for a while. Since 2006, (RED) has teamed up with brands like Apple, Gap and Emporio Armani, selling everything from iPhones to lip balm and donating $600 million from the purchases to the Global Fund to Fight AIDS, Tuberculosis and Malaria. In 2013, Gucci sold a $1,000-plus leather bag to benefit UNICEF. And Bulgari sells jewelry items like a $770 silver necklace with the Save the Children logo — with some proceeds going to the charity.Balenciaga’s collaboration with the WFP has brought renewed attention to this type of charity partnership. Partly it’s because of the high prices charged for items that usually sell for far, far less. And partly it’s because of the desire of WFP to have its logo displayed on the bodies of celebrities and “influencers” — people who have huge followings on social media.The charity and fashion house are transparent about the financial arrangement — up to a point. According to Balenciaga, 10% of the sale price of each item in the collection — sold online and at retail stores like Barneys New York and Saks Fifth Avenue — goes to the U.N. agency. In addition, Balenciaga donated $250,000 to the U.N. agency when the collaboration was set up.NPR asked Balenciaga how much the partnership has raised. Lionel Vermeil, a spokesman for Balenciaga, wrote in an email: “We never break down our sales figures.”However, Challiss McDonough, senior communications officer for the World Food Programme, says the collection has been “very successful” and that the 10%-per-item contribution has brought in “a significantly larger contribution than the initial donation” from Balenciaga of a quarter of a million.Still, it’s not much compared to what the U.N. agency normally gets from its big funders, says Jason Wojciechowski, a fellow at the Center for Impact Communication and the creative director of Corelab, an agency that has worked on digital campaigns for U.N. agencies and aid groups such as Oxfam and Save the Children. The WFP raised $7.4 billion in contributions last year, with $85 million from private donors.But the partnership with Balenciaga is “not just a matter of the financial resources,” says McDonough. As global crises become longer and more complicated, the demand for food aid is going up — and so is the cost. McDonough says WFP is looking to all kinds of ways to bring attention to the charity’s work. “WFP has relatively limited name recognition” in high-income countries, she says.The goal of the partnership is to expose the U.N. agency to a wider network of influencers, adds McDonough. “Balenciaga could offer reach and visibility in a way that [WFP has] not tried.”Indeed, the brand is a favorite among high-profile celebrities like Kylie Jenner and Kim Kardashian and uses its powerful social media presence to spark fashion trends (its $1,290 T-shirt shirt — a shirt, sewed onto another shirt — became a viral meme). And this year, the brand is on track to make more than $1.1 billion in sales.Wojciechowski, who has worked on developing corporate partnerships for U.N. agencies, says the World Food Programme’s strategy has potential. “In the attention economy, where eyeballs and media coverage are the ultimate currency, working with a brand that influencers already wear has value.”Indeed, there are benefits when a star wears a WFP logo. In December, for example, Christina Aguilera was pictured in The Daily Mail in what was described as “an all-black outfit complete with a Balenciaga World Food Programme baseball cap which supports the World Food Programme.”When Wonho, the hugely popular South Korean pop star, was photographed wearing the logo hat, K-pop fan accounts on social media reposted the image, explaining the work of WFP.And the garb is certainly getting eyeballs: This Instagram video of the rapper 2 Chainz in his WFP sweatshirt has half a million views.But the clothing has also been worn by celebrities who bring controversy along with attention. Unlike the carefully vetted U.N. ambassadors who are selected to represent the agency, the World Food Programme has no control over who buys and wears items from the collection in public settings.In October, for example, rapper Kanye West was photographed in his logo shirt on a visit to an orphanage in Uganda, where he gave away bags full of $220 Yeezy sneakers to the kids. West was slammed on social media for giving the children luxury items instead of more practical goods.In a statement to NPR in October, McDonough wrote: “It should be noted that Kanye West is not in a formal partnership with the World Food Programme and his activities in Uganda were not organized or funded by WFP.”A March post from hip-hop artist Chris Brown, in the white logo WFP hoodie, garnered nearly half a million likes on Instagram. But Brown comes with a criminal history. In 2009, he pleaded guilty to felony assault for attacking his then-partner, pop star Rihanna.NPR asked McDonough of WFP if she felt the image of Brown was problematic for the organization. She declined to comment.Balenciaga did not respond to multiple requests for comment on Brown’s social media appearance in the WFP sweatshirt.The associations with controversial public figures could hurt the World Food Programme’s image, says Brad J. Bushman, a professor of communication and psychology at the Ohio State University. He is the co-author of a 2014 study that looks at whether sex and violence affect buying intentions.”You want your brand to be associated with positive things. When it’s not, people come to associate your brand with negative things,” he says.There’s another concern raised by aid specialists. Some researchers take issue with the message that buying products can help the world. For Lisa Ann Richey, the Balenciaga partnership continues the “commodification of compassion,” which she wrote about in the 2011 book she co-authored, “Brand Aid: Shopping Well to Save The World.”In the book, Richey critiqued (RED)’s corporate strategy in the 2000s. She argued that it promotes the idea that products are “good” just as long as they contribute to a good cause, which can distract consumers from a more critical question: Was the product produced ethically?”Do not get sucked into the marketing that this choice makes you a hero,” Richey told AidEx, an organization that supports humanitarian workers, in an online interview in May.”This goes to the core of the debate on what the whole development industry is about,” says Savina Tessitore, who has worked at the Food and Agriculture Organization of the U.N. and gone on humanitarian missions to Ghana, Nigeria, Sudan and Thailand. “Whether it’s changing the structural conditions of poverty and vulnerability or giving crumbs that fall off the table to the poor and hungry.””Who can buy [$850] fanny packs?” Tessitore asks. “Very rich people who are such because so many more are very poor, some to the extent that they cannot survive without some form of foreign aid. It’s downright obscene.”Others in the aid community share her perspective. “What is gained by co-opting your logo to clientele that, if able to afford a $800 hoodie, should frankly be doing a hell of a lot more [for charity]?” says Patrick McGrann, who has been employed by various aid organizations and U.N. agencies over a span of 15 years. He is currently working on a Ph.D. on humanitarian aid at the University of London. “[It’s] a pretty lame way to broaden partnerships.”Despite the criticisms, there is some indication that people want to buy from companies that support philanthropic causes.Shawn Grain Carter is a professor at the Fashion Institute of Technology and a luxury branding consultant at the FIT’s fashion business management department. She says that increasingly, consumers want the brands they love to engage in social justice causes. “They want brands to demonstrate that they have a triple bottom line for people, planet and profit,” she says.Indeed, a 2017 study from the public relations research group Cone Communications found that 87% of 1,000 survey participants said they would purchase a product “because that company advocated for an issue they cared about.”At the moment, Balenciaga and World Food Programme are in talks to continue “a more long-term commitment,” according to Vermeil — but nothing has been confirmed. Copyright 2019 NPR. To see more, visit https://www.npr.org.last_img read more

first_img Keep up with the latest trends and news in the cannabis industry with our free articles and videos, plus subscribe to the digital edition of Green Entrepreneur magazine. dispensaries.com Image credit: Aaron Tilley | Getty Images Download Our Free Android App 3 min read Easy Search. Quality Finds. Your partner and digital portal for the cannabis community. Most agree that cannabis has an impact on those who start using it in their teenage years. But the exact nature and extent of that impact remains a subject of debate.A new study by researchers at the University of California, Irvine hopes to answer some of these questions by focusing on the effect of marijuana specifically on the teenage brain.In addition, researchers will investigate the underlying molecular activity that cannabis causes in the brain.The study has the potential to both offer medical insights into the use of cannabis and to influence public policy. At the very least, it will be the first time in the U.S. that such an extensive study has been completed.Related: Canada Makes Marijuana Farmers Eligible for Government Agriculture ProgramsCannabis and the BrainThe research is being funded by the National Institute on Drug Abuse (NIDA) and the National Institutes of Health (NIH). Together, they have awarded the UC-Irvine School of Medicine $9 million over four years to conduct the research.The stated goal is to measure the “long-term impact of cannabis exposure on the adolescent brain,” according to a news release from UC-Irvine. The research will focus on how THC, the active ingredient in marijuana related to the “high” feeling, affects endocannabinoid (ECB) signaling in the brain, as well as synaptic plasticity and behavior.But the scientific benefits of this study are not the only potential positive outcome. Researchers hope that the results may give policymakers — and voters — a scientific basis for making more informed decisions about the legalization of marijuana, which is still banned on a federal level. Related: The Cannabis Industry Is Going Global Without Waiting for America to LegalizeThe Role of EBCThe study will also examine the interaction between marijuana an EBC, molecules in the brain that govern such areas as emotions, learning, and memory. The NIH sponsored a previous study that found a connection between EBC activation, a lack of sleep, and obesity rates.In the news release from UC-Irvine, Daniele Piomelli, a doctor, and professor of anatomy and neurobiology at the school said: “The ECB system is the main point of entry of THC into the brain.“Now that cannabis is legal in many states, it’s very important to understand whether excessive activation of this signaling system during adolescence can produce alterations in cognition and motivated behavior that last into adulthood.”Previous studies have indicated an increase in the amount of marijuana used in the U.S. in the past decade, as well as the number of people who have associated “disorders” involving abuse of cannabis.By understanding the molecular activity generated by pot, UC-Irvine researchers hope to get closer to understanding how marijuana interacts with the brain. That could open the door to methods for helping those with marijuana-related issues, as well as provide a better understanding on just how cannabis impacts thinking and behavior.Follow dispensaries.com on Instagram to stay up to date on the latest cannabis news. News and Trends Guest Writer –shares New Study Will Gauge Pot’s Effect on Teenage Brains Free Green Entrepreneur App Next Article Add to Queue Opinions expressed by Entrepreneur contributors are their own. August 21, 2018 Researchers at UC Irvine receive $9 million to better understand how cannabis impacts young people.last_img read more

first_img –shares Game On: China Lifts 14-Year Ban on Video Game Consoles The floodgates to China’s gaming market have opened with the lift of a 14-year ban on the manufacture and sale of video game consoles.The most populous nation on earth instated the ban in 2000 for fear of corrupting its youth, but will now allow for distribution of consoles in the Shanghai Free Trade Zone — a 29-square-kilometer testing ground for new economic reforms established last year.News of the lift was met with cautious optimism — particularly by three of the world’s largest console creators: Sony (PlayStation), Microsoft (Xbox) and Nintendo (Wii).Related: Many Believe China Will Soon Overtake the U.S. as World’s Leading SuperpowerWhile Nintendo shares jumped more than 10 percent in Tokyo, according to a CNN report, China’s gaming market has proliferated for over a decade in the absence of consoles through the popularity of PCs, mobile devices and online gaming — leaving questions as to whether consumers will choose to re-adapt.Consoles and games have also long been available on China’s black market.Additionally, the government noted that the repeal was only temporary, and that foreign products — such as the widely popular games that include explicit content and thus are currently banned in China — will still be subject to regulatory approval. Related: How to Be a Gaming Entrepreneur Next Article January 8, 2014 Growth Strategies Geoff Weiss Former Staff Writercenter_img 2 min read Add to Queue 2019 Entrepreneur 360 List The only list that measures privately-held company performance across multiple dimensions—not just revenue. Image credit: China Daily Apply Now »last_img read more