News on Permanent Portfolio Fund (PRPFX)Monday May 25th 2015
Latest news for Permanent Portfolio(PRPFX) (See analysis on PRPFX)
Aggregared News for Permanent Portfolio(PRPFX) from various sourcesThe Riskalyze Report: Advisors Buy the Small Cap Rally
Swiss Shock Spurs Gold Bid as ETP Assets Jump Most Since ‘11
Latest business news
Monday May 25th 2015: Latest financial news from the worldEurope stocks stumble, dollar lifted by U.S rate view
By Emelia Sithole-Matarise LONDON (Reuters) - European shares fell in thin trade on Monday while the dollar powered ahead after U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year. Investor concerns about Greece's debt problems and a poor regional and local election result by Spain's ruling People's Party also weighed on the euro and European shares. The pull-back in European stocks mirrored losses on Wall Street on Friday after Yellen suggested the Fed was ready to act if the economy kept improving as expected, though a raft of recent data has suggested it is growing only modestly in the second quarter.
Regulation should be main tool against bubbles: Fed's Mester
Central bankers should be aware of the potentially destabilizing effects of super-easy policy on financial systems, a top U.S. Federal Reserve official said on Monday, even if monetary policy should not be used as a main tool to prevent bubbles. "I would opt to use the macroprudential tools as the first line of defense, since they can be more targeted to the markets and institutions where the risks are emerging," Cleveland Fed President Loretta Mester said in remarks prepared for delivery to the annual conference in of the Financial Intermediation Research Society, a group she helped found, meeting in Reykjavik, Iceland. "However, I do think that when we are making policy decisions, we should be cognizant of the linkages between our nonconventional monetary policy of an extended period of essentially zero interest rates and financial stability." The concern that the Fed's near-zero rates, in place since December 2008, could be creating new bubbles and an eventual crisis has motivated a few Federal Reserve officials to push for the U.S. central bank to start raising rates sooner than later.
Oil prices edge down as dollar strengthens
Crude oil futures edged lower toward $65 a barrel as the dollar strengthened on Monday, with a public holiday in the United States and much of Europe keeping trading muted. Front-month Brent crude shed 17 cents to $65.20 a barrel by 1052 GMT. U.S. crude was down 35 cents at $59.37 a barrel.
Greece says wants to make debt payments but needs aid urgently
By Renee Maltezou ATHENS (Reuters) - Greece intends to make good on its debt obligations but needs aid urgently to be able to do so, the government said on Monday, after several senior officials insisted Athens had no money to pay a loan installment falling due next week. It must repay four loans totaling 1.6 billion euros to the International Monetary Fund next month, starting with a 300 million euro payment on June 5 that is seen as the next crunch point for state coffers. Athens has the money to make monthly wage and pension payments this week, government spokesman Gabriel Sakellaridis told a news conference.
Troubled Malaysia Airlines to be completely revamped: new CEO
By Siva Govindasamy and Al-Zaquan Amer Hamzah KUALA LUMPUR (Reuters) - Loss-making Malaysia Airlines is set to undergo a complete overhaul as it is restructured into a new company, with a rebranding that will be unveiled next week and changes planned to its fleet and network strategies. Christoph Mueller, who joined from Irish national carrier Aer Lingus, said in his first ever interview since taking over as chief executive on May 1 that the new company will be like a "start-up". A new name and livery are on the cards for Malaysia Airlines (MAS), sources told Reuters.
Iran says OPEC unlikely to change output ceiling: Mehr news agency
OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zanganeh said on Sunday, according to the semi-official Mehr news agency. "Lowering OPEC's production ceiling requires consensus between all members ... under current conditions it seems unlikely that the OPEC production ceiling will change," Zanganeh was quoted as saying. Last month, Zanganeh said the producing group should cut its target daily crude production by at least 5 percent, or approximately 1.5 million barrels per day.
China invites private investors to help build $318 billion of projects
China's state planning agency on Monday released a list of more than 1,000 proposed projects totalling 1.97 trillion yuan ($317.75 billion) that it is inviting private investors to help fund, build and operate. The National Development and Reform Commission said the 1,043 projects, in sectors such as transport, water conservancy and public services, will be done as public-private partnerships (PPP). An NDRC statement on its website did not say whether private investors will include foreign firms.
Alibaba's latest gambit in fighting fakes: foster local brands
By John Ruwitch PUTIAN, China (Reuters) - Criticized and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding Ltd has been quietly piloting a scheme to try to curb fakes at source. In the coastal city of Putian, in Fujian province, Alibaba is working with 17 shoe manufacturers to cultivate home-grown brands online, revitalize a flagging industry and offer would-be counterfeiters an alternative source of livelihood. Critics say the scheme is misguided and Alibaba should instead focus on scrubbing its online marketplaces of widespread listings of fakes.
Senator Warren calls for public hearings on bank waivers: FT
U.S. Senator Elizabeth Warren is calling for U.S. Department of Labor hearings on whether banks accused of rigging foreign exchange markets should be allowed to manage retirement accounts, the Financial Times reported on Sunday. Five of the world's largest banks, including JPMorgan Chase & Co and Citigroup Inc, were fined some $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities said on May 20. The Securities and Exchange Commission gave the banks a series of waivers to let them continue their usual securities business shortly after they agreed to plead guilty to the criminal charges.
After bruising safety crisis, U.S. car watchdog shows its bite
The U.S. auto safety watchdog, long criticized as toothless and slow, is showing both bark and bite under its new boss - a testimony to his credentials as a safety expert and a hardening of the administration's policy after a wave of deadly defects. Having taken the helm of the National Highway Traffic Safety Administration in January, Mark Rosekind has wasted no time in forcing reluctant companies into recalling millions of defective vehicles. In doing so, he has shown greater willingness than some of his predecessors to use the government’s full legal powers over the industry, some for the first time. In the past week alone, the agency announced the biggest recall in history, involving nearly 34 million vehicles with potentially deadly Takata Corp air bags.
Bank of England keeps interest rates steady
LONDON (AP) — The Bank of England has kept interest rates steady as it remains cautious about Britain's economic recovery.
Ford sells sustainability to China with MyEnergi Lifestyle pilot
Amazon finally starts paying proper taxes in European countries
For many years, Amazon has sent a huge percentage of its European revenues over to Luxembourg. The tiny country levies a much smaller rate of tax than most of the countries in which the retailer operates, ...
Huawei to build subsea cables connecting Malaysia, Cambodia, Thailand
Encryption for Everyone: The free service that will change how you think about security
Google patents creepy smart toys that interact with kids
Nexus Ruxpin? Google's mad science X division is, er, toying with the idea of smart teddy bears in one of its strangest patents yet. In response to junior's voice or movements, "the anthropomorphic ...
Google Cardboard, Version 2: How VR and AR could take off at Google I/O
Amazon now paying tax in Germany and UK
Google finds that security questions aren't really secure
Human Services data centre consolidation nears completion
Lessons from a Sydney cryptoparty
Netflix accidentally bills Australian customers multiple times
Super-efficient solar cells can power homes in unforgiving areas
'A Beautiful Mind': mathematician John Nash dies aged 86
Telstra on track with decade-long Racing Victoria deal
Chromecast app update gives a clearer look at your streaming devices
BlackBerry jobs to go from software, hardware, apps businesses
Mobilising from retail to online
One boutique fashion retailer went with cloud-based POS from day one, a decision that, according to owner Ellie Weekley, has made the launch and subsequent day-to-day management of the online store much easier.
Unorthodox Sprite drone tolerates abuse and actually flies
Etsy may face 'Handmade' rival from Amazon
Lollipop brought the looks, now M needs to update Android's innards
Android's stand-alone Photos app will give you more creative control
Wondering what will happen when Android's Photos app finally makes a clean break from Google+? You should now have a pretty good idea. Android Police has peeked at a leaked copy of a reworked Photos app, ...
IBM's sales sag in New Zealand
Meditation can make you miserable, psychologist says
Instagram wants to reel you back in with emailed photo highlights
The bizarre and often hilarious world of Grand Theft Auto V mods
Just a month into its PC release, Grand Theft Auto V mods are here -- and they're weird, over-the-top and hysterical. Here are just a few of our favorite mods and instructions on how you can mod Grand Theft Auto V yourself.
CES Asia begins in Shanghai
Tennis star Roger Federer disturbed by invasive selfie-taker
Some of Hollywood's best animatronics are going to auction
If you're a movie buff who can't get enough of Hollywood's monsters, you might want to brace your wallet for impact. Famed special effects guru Rick Baker is auctioning over 400 items from his collection, ...
John Nash, 'Beautiful Mind' mathematician, and wife die in car crash
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