Saturday, October 17, 2015

Today's Headlines

Posted by Gary .....at 9:58 PM
Bloomberg:   
  • Iran Nuclear Deal Adoption Starts Clock on Oil Sanctions Relief. World powers and Iran set the clock ticking on a landmark accord placing limits on the Islamic Republic’s nuclear work in return for access to oil and financial markets. Sunday’s adoption of the deal means that all sides will have to begin implementing the pledges they made three months ago. For Iran, that means mothballing thousands of centrifuges, eliminating 95 percent of its enriched-uranium stockpile and retrofitting a reactor. The U.S. and Europe will make preparation to lift sanctions, which will only occur once the Iranian measures are in place.
  • Japan's Finance Minister Says BOJ Unlikely to Expand Easing Now. Japan’s central bank is unlikely to expand its unprecedented economic stimulus for now, Japanese Finance Minister Taro Aso said, citing a surplus of money in the economy and weak domestic demand. “At this point, the government is not thinking about anything like that, and probably the Bank of Japan will not undertake additional monetary easing right now,” Aso said in an interview with public broadcaster NHK that aired Friday evening in Tokyo. The comments were confirmed by a Finance Ministry official who asked not to be identified.
  • Credit Suisse Says Euro Set to Drop With Draghi Close to More QE. Look for euro weakness next week, according to Credit Suisse Group AG. That’s because Mario Draghi, the European Central Bank president, is expected to signal further monetary easing by the central bank at its Oct. 22 meeting in Malta, according to Credit Suisse, the top major currency forecaster for the four quarters ended June 30, according to Bloomberg rankings. The shared currency stalled last week after gaining for the previous two amid growing speculation that the U.S. Federal Reserve won’t increase interest rates any time soon. 
  • German Politician Stabbed With Refugee Crisis Seen as Motive. A mayoral candidate in Cologne who advocates tolerance for refugees was stabbed and seriously injured by a man who cited xenophobic motives, just as Chancellor Angela Merkel insists that Germany needs to be open to people arriving on its soil. Henriette Reker, an independent, was attacked by a knife-wielding man at a campaign event Saturday and taken to the hospital for emergency surgery, Bild newspaper reported. Four other people were wounded and a 44-year-old suspect was taken into custody, Cologne police said on their website. Reker was stabbed in the neck, the Rheinische Post newspaper said.
  • U.S. Cancels Remaining Arctic Oil Lease Sales Under Obama. The U.S. Interior Department effectively halted drilling off Alaska’s coast for the remainder of President Barack Obama’s term by canceling two sales of Arctic oil and gas leases. The decision comes less than a month after Royal Dutch Shell Plc said it would indefinitely cease exploration in the region as the company didn’t find sufficient quantities of oil or gas in a Chukchi Sea drilling zone.
Wall Street Journal:
  • Regional Discord Fuels Islamic State’s Rise in Mideast. Competition among major players for influence trumps defeating extremists. Pretty much everyone in the Middle East is supposed to be fighting against Islamic State. Yet, the Sunni extremist group retains large swaths of Syria and Iraq and is spreading elsewhere in the region. This isn’t because of its military might or strategic sophistication. The explanation is different: For most of the major players in the complicated conflicts ravaging the Middle East, the defeat of Islamic State remains a secondary... 
  • Four Palestinians Killed in Israel After Allegedly Carrying Out Attacks. Wave of violence continues in Israel, Palestinian territories. Four Palestinians were killed and one injured after carrying out five separate knife attacks in Israel on Saturday, the Israeli military said, a day after Jerusalem Mayor Nir Barkat urged licensed Israeli gun owners to carry their weapons and help defend civilians.
  • The Clintons and the Emirates. Secretary Clinton’s top aide was paid to negotiate a private deal. This week the Washington Post reported that Cheryl Mills, who served as Hillary Clinton’s chief of staff at the State Department, was simultaneously being paid by a private organization to negotiate with a foreign government. And that foreign government has been particularly generous to the Clintons.
Barron's:
  • Had bullish commentary on (JPM), (AMT), (CCI), (SBAC), (FITB) and (TRCO).
Fox News: 
  • Violent attacks continue in Israel as tensions increase. (video) Palestinian assailants carried out five stabbing attacks in Jerusalem and the West Bank on Saturday, authorities said, as a month-long outburst of violence showed no signs of abating. The unrest came despite new security measures that have placed troops and checkpoints around Palestinian neighborhoods in east Jerusalem.
Zero Hedge:
Washington Times: 
  • Captain America battles right-wing conservatives in new comic. In the latest issue of Marvel’s revamped Captain America, the iconic superhero takes on a group of right-wing conservatives trying to stop illegal immigrants from crossing the border. Marvel Comics is owned by Disney(DIS) and has recently begun a new process of reinventing itself, changing the race and gender of many of its iconic superheroes.
Reuters:
  • Exclusive: Lockheed eyes overhead cuts of up to 30 percent. Lockheed Martin Corp (LMT), the Pentagon's No. 1 supplier, has launched a review aimed at cutting corporate overhead costs by as much as 30 percent, according to two sources familiar with the initiative. Lockheed would already reduce overhead substantially as part of an announced plan to sell or spin off an array of services businesses with revenue of $6 billion. The move will eliminate one of the $45 billion company's five current business divisions.
Telegraph:

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