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Jul 31

In The News:

Jobs, Jobs, Jobs….

On Wednesday ADP released their monthly private sector jobs report. The reports showed private employers added 218,000 jobs, down from 281,000 in June. It was the fourth straight month of job gains above 200,000, a healthy pace that usually is enough to lower the unemployment rate. July job gains were mostly broad-based with construction added 12,000 positions, retail/shipping and utilities sectors gained 52,000 and professional/business services gained 61,000. Next up… the other jobs report, the NFP, out Friday.

We’re Growing…

Wednesday the Commerce Department announced U.S. gross domestic product, a broad measure of the nation’s output of goods and services, advanced at a seasonally adjusted annual rate of 4.0% in the second quarter. The 4.0% rate is a significant rebound from a wintry 2.1% contraction during the first three months of the year. Compared with a year ago, economic output was up 2.4% in Q2, in line with the modest pace of growth that has characterized much of this recovery.

The End… Nearly…

The Federal Reserve, on Wednesday, released their policy statement after ending their two day meeting. As expected the Fed will continue scaling back its purchases of Treasury and mortgage bonds to $25 billion monthly and delivered a modestly better assessment of inflation, jobs and the economy. The Fed’s move will keep the central bank on course to end the bond program by October, a wind-down strategy officials have signaled in recent public statements. The Fed also in their policy statement noted the labor markets is improvement, the jobless rate declining and inflation moving closer to its 2% objective.

In The Markets:

Asia:

Asian markets closed mixed on Thursday as investors profit-taking overshadow robust economic data from the US.

Europe:

European stock markets fell after patchy earnings reports and non movement by Wall Street after better economic news.

US:

U.S. markets closed mixed on Wednesday as investors digested July job numbers, 2Q GDP, and the Fed policy statement all in one day. DJIA: -31.75 16880.36 NASDAQ: +20.20 4462.90 S&P

 

In Dinner or Drink:

Happy Ending

2 oz. Absolut® Mandarin vodka
4 oz. club soda
2 splashes cranberry juice

 

Add 2 shots vodka to approx. 4 oz. of club soda. Mix in a splash of cranberry juice. Squeeze 1 lime wedge and enjoy! Happy Ending for everybody!

In Word Of The Day:

Gross Domestic Product (GDP):

The monetary value of all the finished goods and services produced by a country within its borders in a specific time period, usually annually. Or put another way it’s like a countries price tag. The number includes both private and public consumptions, government productions, investments and exports minus imports. It is commonly used as an indicator of countries economic health aka is the economy growing (good) or is it declining (bad).

Jul 30

In The News:

3-D Vision…

What’s the future of retail according to Amazon (AMZN)? Items manufactured by a 3-D printer and then delivered by drone to the customer. Amazon inched closer to its vision this week when it launched its 3-D Printing Store. The 3-D Printing Store will offer shoppers over 200 products, including toys, jewelry and home décor. All items are produced via 3-D printer and can be customized by size, color, material or with personal text and images. A “personalization widget” lets customers play around with different designs and preview their purchase before they buy. Watch out; Christmas is right around the corner. Could 3-D be found under your tree this year?

Silence…

On Tuesday Twitter Inc. (TWTR) silenced its doubters, at least for now, over the company’s ability to jump-start shrinking user growth in the shadow of larger rival Facebook Inc. (FB). The San Francisco social-media company posted strong results across all areas in the second quarter of this year, reversing its fortunes from three months earlier, when it sparked concerns its popularity had peaked.  Twitter reported its second straight quarter of user growth, adding 16 million, or 6.3%, more users world-wide in the quarter who logged in at least once a month. Most important to investors… Twitter showed signs its growing pains may be easing.

In The Markets:

Asia:

Asian markets closed mixed on Wednesday as investors wait for the Fed’s meeting later today.

Europe:

European shares closed positive Tuesday after shrugging off fears what potential implications additional sanctions on the Russian will bring to that country’s economy.

US:

U.S markets closed lower on Monday after new tougher sanction against Russia were announced. DJIA -70.48 16912.11 NASDAQ: -2.21 4442.70 S&P: – 8.96 1969.95

In Dinner or Drink:

Blue Bird:

1 1/2 oz. gin
1/2 oz. triple sec
1 dash bitters

Add gin, bitters and triple sec to a cocktail shaker with ice. Stir well and strain into a cocktail glass. Garnish with cherry and lemon twist.

In Word Of The Day:

Market Capitalization:

Market capitalization is calculated by multiplying a company’s outstanding shares by the current market price of one share. Market Capitalization is used to determine whether a company is categorized as a small cap, mid cap, small/mid cap, or large cap.

 


Jul 29

In The News:

Mile High Entertainment…

Delta (DAL) is ratcheting up its customer service, saying it intends to offer free entertainment options on all of its flights world-wide, either through seat-back devices or streaming on board Wi-Fi-equipped planes into passengers’ own laptops and mobile devices. Content for the entertainment studio will include movies, TV shows, music and video games. [Continue reading...]

Jul 28

In The News:

What A Dollar Will Buy…

Dollar Tree Inc. (DLTR) announced it will acquire Family Dollar Stores Inc. (FDO) in a cash-and-stock deal that values the discount retailer at about $8.5 billion. The $74.50-a-share deal price, roughly a 23% premium over Family Dollar’s closing price on Friday, will include $59.60 in cash and $14.90 equivalent in Dollar Tree shares. [Continue reading...]

Jul 25

In The News:

House Sale:

Zillow Inc. (Z), the online real-estate information service, is in advanced talks to buy rival online service Trulia Inc. (TRLA) in a deal that could give their fast-growing websites even more power in the home-sale market. Should the talks not fall apart, a deal could be struck within the next week. The two companies’ websites have each emerged as significant competitors to traditional real-estate information sources.  [Continue reading...]

Jul 24

In The News:

If you don’t have something nice to say…

A father took his rant to the twitter-verse and alleges that it got him kicked off his flight. A Minnesota dad and his daughters were flying last Sunday from Denver to Minneapolis when the dad got into a dispute with a Southwest (LUV) customer service agent who wouldn’t let his two young daughters board priority with him because Southwest doesn’t offer priority boarding for children. The dad tweeted about the incident and was asked to leave the plane with his daughters. According to him, they could not re-board until after the tweet had been deleted. Southwest has apologized to the dad and has provided vouchers for him and his daughters.

Going Up…

Wednesday, Mars Chocolate North America, the maker of M&M’s and Snicker, announced it will raise its prices by an average of 7 percent “to offset rising costs,” The price hike by Mars follows Hershey Co, the No. 1 candy maker in the United States, who has also raised its chocolate prices about 8 percent due to soaring commodity costs. The price hike is the first for the company in three years and like Hershey is the result of a dramatic increase in the costs of doing business. Mars Chocolate North America is a subsidiary of Mars Inc., the third biggest confectionery business globally next to Butterfinger-maker Nestle SA and Cadbury-maker Mondalez International. A date for the price increase has not been announced.

In The Markets:

Asia:

Asian markets ended mixed on Thursday as investors turned towards the regions earning session and better economic data from China.

Europe:

European markets closed slightly higher on Wednesday despite the revelation one of Europe’s biggest banks had major accounting issues in their US operations.

U.S.:

U.S. markets closed mixed on Wednesday as investors digested mixed economic news, corporate earnings, and continued geopolitical issues. Despite the mixed results the S&P hit a record high. DJIA: -263.91 17086.63 NASDAQ: +17.68 4473.70 S&P: +3.48 1987.01

In Dinner or Drink:

Liquid Snickers

1 oz. dark crème de cacao
1/2 oz. Irish cream
1/2 oz. Frangelico® hazelnut liqueur
1/2 oz. light cream

Pour creme de cacao, irish cream and frangelico liqueur over ice cubes in an old-fashioned glass. Top with light cream, stir and serve.

In Word Of The Day:

Yield Burning:

The illegal practice of underwriters marking up the prices of bonds for the purpose of reducing the yield. Yield burning occurs after the bond is placed in escrow for an investor who is awaiting repayment.

Jul 23

In The News:

Exam Time…

An examination by the Federal Reserve Bank of New York found Deutsche Bank’s giant U.S. operations suffer from an array of serious financial-reporting problems that the lender has known about for years but not fixed. In a letter to the bank executives in December, a senior official with the New York Fed described reports produced by some of the bank’s U.S. arms as low quality, inaccurate and unreliable. The size and extent of the errors strongly suggest that the firm’s entire U.S. regulatory reporting structure requires wide-ranging remedial action. Concern over Deutsche Bank’s operations comes as federal regulators are increasingly focused on the health of overseas lenders with substantial U.S. operations.

Premium Subscription…

LinkedIn Corp. (LNKD) announced Tuesday that they have agreed to buy business audience marketing provider Bizo for about $175 million. The San Francisco-based Bizo has been part of LinkedIn’s partner program. Linkedin will incorporate Bizo’s Media Solutions and Multichannel Nurturing products; however, it will keep its Data Solutions. The acquisition will enhance Linkedin’s ability to offer a more comprehensive B2B marketing platform. The 90% cash and 10% stock deal is expected to close in the third quarter.

In The Markets:

Asia:

Asian stocks closed higher on Wednesday after a positive hand off from Wall Street.

Europe:

On Tuesday, European stocks got a lift higher from oil stocks and a handful of banks.

US:

U.S. stocks closed modestly higher on Tuesday as better than expected inflation, housing reports, and a flood of second quarter earnings had investors buying. DJIA: +61.81 17113.54 NASDAQ: +31.31 4456.02 S&P 500: +9.90 1983.53

In Dinner or Drink:

Final Exam Relief

3 oz. Captain Morgan® Parrot Bay coconut rum
2 oz. amaretto almond liqueur
1 oz. triple sec
pineapple juice
Sprite® soda

Pour the Captain Morgan Parrot Bay coconut rum, amaretto almond liqueur and triple sec into a Collins glass 3/4 filled with ice cubes. Stir and fill up the rest of the glass with equal portions of pineapple juice and Sprite. Top with a little grenadine and some cherries if desired, and serve.

Jul 22

In The News:

We Like You…
CIT Group (CIT), the business finance arm of Citigroup (CIT) announced Tuesday it had reached a deal to buy the parent company of OneWest Bank NA for $3.4 billion.  CIT provides loans and other forms of financing to small and midsize businesses for everything from office equipment to mergers and acquisitions. The company is also one of the [Continue reading...]

Jul 21

In The News:

 

Back To The Future…
Thirty five years after its debut, Sony Corp.’s (SNE) Walkman is enjoying a little comeback. The newest gadget from Sony, the new Walkman or ZX1 as it is officially called, is aimed at premium buyers with a $700 price tag. But while the original cassette player of 1979 heralded the age of mass-market, portable music, the new Walkman is aimed at premium buyers, as technological advances have helped create more upscale audio-on-the go users. [Continue reading...]

Jul 18

In The News:

Cutting Back…

Microsoft Corp.’s (MSFT) new chief executive is handing out pink slips as he seeks to remake the company. Satya Nadella, the CEO since February, announced Thursday he will cut about 14% of Microsoft’s workforce. The majority of the cuts will come from areas of overlap with Nokia Corp.’s mobile-phone business, which Microsoft acquired in April. Microsoft absorbed about 25,000 workers in the Nokia deal. The layoffs will be the largest in Microsoft’s history, surpassing 2009′s layoffs, when more than 5,000 positions were eliminated. Microsoft employees have been anxiously awaiting an announcement as rumors of layoffs have spread over the last couple weeks. Not helping the rumor mill, Mr. Nadella issued a company-wide memo last week that foreshadowed a shake-up in Microsoft’s culture and organizational makeup. If they want a bright future ahead, Microsoft needs to stay nimble as the technical landscape continues to change at record speed. We will have to wait to see if the cutbacks will help the company do just that.

Drug Buy…

U.S. drug maker, AbbVie Inc. (ABBV) on Friday agreed to buy drug maker Shire (SHPG) for around $54 billion making it one of the largest deals to date where a U.S. company seeks to lower its tax rate by buying a foreign rival. The offer, which has the backing of the Shire board, will include £24.44 in cash and 0.8960 AbbVie share per Shire share.  Once the deal is approved, North Chicago, Ill.-based AbbVie plans to base the new combined company in the U.K. to benefit from its lower corporate tax rate. The move is part of a growing number of U.S. health-care companies looking to take advantage of European deals to lower their tax bill.

In The Markets:

Asia:

Asian stocks ended mostly lower on Friday after the crash of a passenger plane in Ukraine and a ground offensive in Gaza sparked geopolitical tensions.

Europe:

European markets tumbled on Thursday after the news broke of the tragic airline crash over Ukrainian airspace.

US:

U.S. stocks ended sharply lower Thursday as selling took hold after a Malaysia Airlines jet crashed near the Ukraine-Russia border.  DJIA: -161.39 16976.81 S&P: -23.45 1958.12 NASDAQ: -62.52 4363.45

In Dinner or Drink:

Wild Pitch

Ingredients

1 oz. Bulleit® Rye

0.5 oz. earl grey infused sweet vermouth

2 dash(es) bitters

1 piece(s) orange zest

Bottom of Form

How to Mix

Glass: Rocks Glass

Combine BULLEIT® 95 Rye Whiskey, infused vermouth and bitters in a rocks glass over ice.

Express the orange zest over and around the rim of glass and place it on top of the drink.

 

In Word Of The Day…

Bonds:A debt instrument in which an investor loans money to an entity (either corporate or government) at a fixed rate of interest and duration. The entity can then use the money to finance a variety of projects or activities. Also known as fixed- income securities.

Have a safe and wonderful weekend, Yall!

Jul 17

In The News:

Sweet Things…
Hershey (HSY) announced it will increase prices, citing higher commodity, utility and transportation costs. The company will increase wholesale prices by a weighted average of about 8% across the majority of its U.S., Puerto Rico and export portfolio. Hershey hopes that the price increase will help offset part of the significant increase in input costs, including raw materials, packaging, fuel, utilities and transportation costs associated with make its sweet treats. [Continue reading...]

Jul 16

In The News:

 

Smoky Union…
Reynolds American (RAI) has agreed to acquire Lorillard (LO) in an ambitious and risky $25 billion deal that not only reshapes the landscape of U.S. tobacco but also makes Newport Menthols an even more formidable rival to Altria Group Inc.’s (MO) top-selling Marlboro. The marriage will add Lorillard’s famous brand Newport, the No. 2 cigarette brand, to Reynolds’ portfolio which already includes Camel and Pall Mall cigarettes. The total portfolio will give Reynolds a commanding position in popular menthol smokes, which have recently been stealing shares from unflavored cigarettes.
The deal, which ultimately involves four different cigarette makers, is so complex that it isn’t expected to close before the first half of next year. The marriage must win approval from antitrust authorities and shareholders, not just Reynolds and Lorillard, as well as UK based Tobacco Group PLC.

Strange Bed Fellows…

Enemies and rivals during the early personal-computer wars, Apple Inc. (APPL) and International Business Machines Corp. (IBM) will now unite to create simple-to-use business apps and sell iPhones and iPads to Big Blue’s corporate customers. The deal between the two heavy weights underscores Apple’s push to expand the reach of the iPhone and iPad into the business world—beyond their traditional base among consumers. IBM, on the other hand, is hoping Apple’s simplicity and popularity will help stop eight consecutive quarters of revenue declines and aid the company’s shift towards mobile business software used by employees.

Rejection…
Sources told CNBC on Wednesday earlier this summer Time Warner (TWX) rejected an $80 billion formal offer from News Corp.’s 21st Century Fox (FOXA). In early June, the heads of both companies, 21st Century Fox President Chase Carey and Tim Warner President Jeff Bewkes met to discuss the deal. 21st Century Fox was so serious about the deal it offered to sell its CNN cable network to potential appease regulators concerned with antitrust issues. The bid, which offered $85 a share in cash and stock, Time Warner’s board felt was greatly undervalued. Time Warner’s Board sent its reject letter to Fox in early July. Well, Rupert Murdoch let’s see what your next move will be…

In The Markets:

Asia:
Asian stocks ended Wednesday’s choppy session mixed despite better-than-expected growth data from China.

Europe:

European shares ended Tuesday lower after investors didn’t really like comments made by Chairman Yellen in her semi-annual congressional testimony.

US:
U.S stocks closed mixed on Tuesday after investors had to balance upbeat earnings from the banking sector against concern from the Federal Reserve that valuations on small-cap and high-flying names might be “stretched.” DJIA: +5.26 17060.68 NASDAQ: -24.03 4416.39 S&P -3.82 1973.26

In Dinner or Drink:

Borrowed Time

1 1/2 oz. Canadian whisky
1/2 oz. ruby port
1 egg yolk
1 tsp grenadine syrup

Combine the Canadian whisky, port, egg yolk and grenadine in a cocktail shaker half-filled with ice cubes. Shake well, strain into a cocktail glass, and serve.

In Word Of The Day….

Pink Sheets:
A daily publication, literally published on pink paper, which is compiled by the National Quotation Bureau with bid and ask prices of over the-counter (OTC) stocks, including the market makers who trade them. The companies quoted on the pink sheets, unlike those on a stock exchange, do not need to meet minimum requirements or file with the SEC.

Jul 15

In The News:

Settled…

On Monday, Citigroup Inc. (C), the third largest U.S Bank,  agreed to pay $7 billion to resolve claims it misled investors about shoddy mortgage-backed securities in the run-up to the financial crisis. The deal includes the largest civil fraud penalty ever levied by the U.S. Justice Department. The $7 billion settlement, is less than the $12 billion the government sought in negotiations with the big bank. Under the terms, Citi will pay $4.5 billion in cash to the Justice Department and provide $2.5 billion in aid to low-income tenants and struggling homeowners. The Justice Department part of the penalty will resolve claims involving both mortgage securities and the more complicated securities known as collateralized debt obligations which the bank structured or underwrote between 2003 and 2008.

No Mail…

Staples Inc. (SPLS.O) announced Tuesday it will end a pilot program with the U.S. Postal Service to set up mini-post offices in the company’s retail outlets, after several protests outside the stores. For months postal workers have protested the program, objecting to expanding post office services to Staples stores would be staffed with non-union workers. The news comes just days after the American Postal Workers Union won the support of the American Federation of Teachers (AFT) after it approved a resolution to boycott Staples.

New Kid In Town…

Monday, Volkswagen announced the car maker will spend $900 million to build a mid-sized SUV at its U.S. plant in Tennessee, nearly doubling the factory’s workforce.  VW choose Chattanooga, Tennessee for the new factory instead of a plant in Puebla, Mexico to produce a seven-passenger SUV starting in late 2016. The new factory will create up to 200 new jobs at the site which currently has almost 2,500 staff. The current VW factory in Chattanooga started operating in 2011, building a cheaper, roomier version of the carmaker’s mid-sized Passat sedan specifically designed for American customers.

In The Markets:

 

Asia:

Asian shares closed higher on Tuesday as investors awaited Federal Reserve Chair Janet Yellen’s two-day testimony later in the day.

Europe:

European stock markets rose for a second straight day on Monday as fears about the soundness of Portuguese banks continued to recede.

U.S:

On Monday, U.S. stocks rebounded with the Dow Jones Industrial Average closing above 17,000. A flurry of deal news and better-than-expected earnings from Citigroup Inc. increased demand for equities. DJIA: +126.44 17070.25 NASDAQ: +30.03 4445.52 S&P: +10.84 1978.41

In Dinner or Drink:

Celebration

2 1/2 parts gold rum
1 part brandy
1 part triple sec
1 part lemon juice
5 drops orange bitters

 

In a cocktail shaker add ingredients and fill with ice. Shake with gusto for half a minute, and pour/strain into a cocktail glass. Garnish with lemon peel, or lime peel if you use fresh lime juice.

A Special Note…

One year ago today we published our first daily digest. It has been an amazing year for us and we sincerely THANK YOU for allowing us the privilege to share a part of your daily life and for you support. We can’t wait to see what the next year of the Before 24 brings.  – PJ, KJ, & AJ

Jul 14

In The News:

Help Wanted…

Big Box retailer J.C Penny (JCP) is having a hard time finding a new leader. Mindy Grossman, head of HSN turned down the chance to become Penny’s next chief executive, leaving the retailer to continue their search. [Continue reading...]

Jul 11

In The Markets:

Child’s Play…
On Thursday, The Federal Trade Commission filed a lawsuit against Amazon.com (AMZN) accusing the company of unlawfully charging millions of dollars on apps designed for children. The FTC alleges that the company, who collects 30% of in-app charges from apps downloaded from the site, was billing its account holders even though no password or consent was required. The company received thousands of complainants from customers.
The FTC is alleging that children, when playing games, could simply click a box and their parents’ credit cards were charged. According to the lawsuit, the children had no idea they were spending real money. The commission is seeking a court order to force Amazon to issue refunds and to bar the company from in app charges made without proper authorization. Amazon says it will fight the FTC, noting they have issued refunds to all those who have complained.

We Have A Problem…
At the epicenter of Thursday’s global market tumble was one of Portugal’s largest bank, Banco Espirito Santo. Shares of the troubled lender had been under pressure since May after the bank disclosed in an audit serious financial trouble and its books contained accounting irregularities. The real trouble began Thursday morning when investors learned the bank had delayed coupon payments relating to some short-term debt securities. This caused panic as investors wonder if the bank could represent larger financial issue within the country’s financial system. Both Espirito Santo and the conglomerate which owns a stake in it, Espirto Santo International SA, plunged after the news broke and the shares were suspended from trading.

In The Markets:

Asia:
Asian markets closed out the week mostly down as fears the debt issues at the holding firm behind Portugal’s biggest bank could continue to hurt European periphery markets.

Europe:
Europe tumbled on Thursday after the revelation from Portugal’s largest bank made investors wonder about the governance and health of Portugal’s banking system.

US:
U.S markets closed lower on Thursday after the decision by Portugal’s biggest banks to delay debt payments reminded investors just how fragile Europe’s banking system is. DJIA: -70.54 16915.07 NASDAQ: -22.83 4396.20 S&P: -8.15 1964.68

In Dinner or Drink:

Purple Problem Solver

1/2 oz. vodka
1/2 oz. rum
1/2 oz. Midori® melon liqueur
1/2 oz. Blue Curacao liqueur
1/2 oz. apple schnapps
1/2 oz. peach schnapps
1/2 oz. sweet and sour mix
grenadine syrup
pineapple juice

Add vodka, rum, midori, curacao, schnapps, and sweet and sour to an ice-filled hurricane glass. Fill with pineapple juice, add grenadine until purple, and serve.

Like our recipe today, click here for more.

In Word of The Day…

Individual Retirement Account aka IRA:

Individual Retirement Account is a form of an individual retirement plan. The account provides tax advantages for retirement savings in the U.S. IRA’s can be provided by banks, brokerage firms, and even insurance companies.

Have a safe and wonderful weekend, Yall!

Jul 10

In The News:

Flyin’ High…

Boeing (BA) announced Wednesday that they have finalized a $56 billion agreement to build 150 777X aircraft for Dubai’s Emirates Airline. The 777x is a larger more fuel-efficient model than its kissing cousin Boeing’s wide body 777. Currently Emirates is the world’s largest operator of Boeing’s 777. This is the second contract between the two companies. The companies first announced a commitment to do a deal at the Dubai Airshow in November. [Continue reading...]

Jul 9

In The News:

Beauty Make Over…
Coty Inc. (COTY), the beauty-products maker, unveiled a new organizational structure built around categories and regions on Wednesday. Under the company’s new structure, all Coty brands will be housed under four consumer-driven categories—fragrance, skin care, color cosmetics and body care. The company will also organize itself under four markets—North America, Europe, Latin America, and Asia-Pacific/Middle East, Africa. Currently, Cody has been organized into two stand-alone division model of Coty Prestige and Coty Beauty. [Continue reading...]

Jul 8

In The News:

More Food for Us…

On Mondays way of reminding guests how Fridays delivers on its promise of great food, great service, great value and great fun or a great heart attack down the line.  The promotion, which is being pushed out over social media, comes just weeks after the Carlson Group (CRW) announced it will sell the companys bellies? We will find out in Q4.​

Cutting Back…

On Monday, Delta Airlines (DAL) announced it will cut 85% of its flights to Venezuela next month, part of a broad cutback by foreign airlines who say the Venezuelan government owes them more than $4 billion. The move follows Air Canada (AC) and American (AAL) who have already significantly reduced their flights to the county in recent months because of a dispute with the Venezuelan government over their financial holdings in the country. The issue comes from the counties policy that foreign companies need state approval to exchange their revenues which are paid in bolívares to other currencies such as the dollar. This practice wreaks havoc on the airlines bottom line. A recent example… Authorities recently weakened the exchange rate for international airfares to 11 bolívares to the dollar from 6.3. Because of the change Delta, for example, recorded a $23 million charge in the first quarter because of the devaluation.

The reduction in flights to the county comes as other foreign companies also are cutting back in Venezuela which are leading to shortages of basic goods such as car parts and cooking oil.  These shortages have spark violent street protests and turned some people against leftist President Nicolás Maduro.

In The Markets:

Asia:

Asian markets ended their Tuesday trade mostly lower taking the lead from weary investors in the US.

Europe:

European stocks pulled back on Monday after German Industrial production data dropped un-expectantly sparking worries that the economic engine is losing steam.

US:

US markets closed down on Monday as investors took a rest break after Thursday better jobs numbers and the start of earning season on Tuesday. DJIA: -44.05 17024.21  NASDAQ: -34.40 4451.53 S&P 500: -73.79 1977.65

In Dinner or Drink:

Venezuelan Chicha
Ingredients:
2 cup white rice
7 cup water
1- 1/4 tsp. salt
1 can condensate milk (397 gr)
1-1/2 cup sugar
2 – 3 tsp. vanilla essence

  • ·  Soak the rice in water for at least 4 hours. You may skip this step if you cook the rice for longer time in a big pot adding more water than what was specified, for example 9 cups of water.
  • ·  Put the rice in a big pot with the 7 cups of water and the salt. Cook it until the rice is very soft. Do not let the water dry too much, add water if needed during cooking.
  • ·  Let the rice get cool (warm).
  • ·  Using your blender, blend the rice with water at medium speed, the condensate milk (keep some for topping), the vanilla essence, and the sugar.
  • ·  Do it in batched. I suggest to mix all the ingredients with some rice in the first batch. Pour it in a big bowl.
  • ·  Continue blending the rice adding water if necessary, make sure that the rice is very well blended (no lumpy) add the blended rice to to bowl. When you finish blending all the rice, stir all together in the bowl.
  • ·  Pour the chicha in a jar big enough to content the drink, put in the refrigerator.
  • ·  When ready to drink it, add ice in the glasses, pour the chicha and add ground cinnamon and condensate milk.

The Word of The Day…

Repurchase aka Repo:

Very different from taking your car away. Repo is a form of short-term borrowing for dealers in government securities. The dealer sells the government securities to investors such as banks, usually on an overnight basis, and buys them back the following day. Repo is a way banks or other investors pay for their day to day financial needs.

 

 

 

 

Jul 7

In The News:

Rust Recall…

Subaru announced it will recall more than 660,000 cars and SUVs due to potential rust and fluid leakage in the brake lines, causing a delay in vehicle stopping. Affected models are 2005-2009 Legacy and Outback, the 2008-2014 Impreza, and 2009-2013 Forester. This will be the second such recall for half of the vehicles listed. In documents filed with the U.S. National Highway Traffic Safety Administration, Subaru acknowledged that salty water can splash onto the brake lines through a gap in the fuel tank protector, causing rust. If it leaks fluid, it may take the car take longer to stop and increase the risk of a crash. [Continue reading...]

Jul 3

In The News:

Shopping Spree…

Kroger Co. (KR) announced it has agreed to buy online vitamin and health-related products retailer, Vitacost.com Inc., (VITC).  The deal gives the largest U.S. supermarket chain a stronger presence in Internet retailing. [Continue reading...]

Jul 2

In The News:

Bad Boys…

A federal regulator alleged on Tuesday that T-Mobile USA (TMUS) knowingly made hundreds of millions of dollars off its customers through bogus charges, a complaint likely to damage the reputation of a household name in wireless communications. In a complaint filed in federal court the Federal Trade Commission alleges T-Mobile billed its customers for subscriptions to  premium text services, such as $10-per-month horoscopes, that account holders never authorized. The complaint also alleges the company collected as much as 40 percent of the charges even after being altered by customers that the subscription were scams.  T-Mobile shares closed down on Tuesday.

Flying High…

Southwest Airlines (LUV) made history Tuesday when for the first time in the airlines 43-year history one of their flights took off headed for international territory. The airline’s inaugural international flight took off from Baltimore headed for Aruba. Southwest picked up Caribbean routs through its acquisition of AirTran however, Tuesday’s takeoff marked the first time the airline would be using its own aircraft for the flight. This was the first step for Southwest into the world of international flights. The company has already announce there will be more flights to exotic destination added within the next year. Southwest shares closed up 1.7%.

Jobs, Jobs, Jobs….

According to the monthly ADP jobs report, released Wednesday morning, the economy added 281,000 jobs in June. The number was well above the estimated 210,000 forecasted by analyst.

In The Markets:

Asia:

Asian markets closed in the green Wednesday following yesterday’s upbeat U.S economy data.

Europe:

European markets closed higher on Tuesday after better economic news out of the US.

US:

US markets closed higher on Monday after a strong reading of the manufacturing sector continued to point to an improving economy. The S&P 500 and the Dow Jones Industrial Average closed again at record levels. DJIA: +20.17 16976.24 NASDAQ: -0.92 4457.73 S&P: +1.30 1974.62

In Dinner or Drink:

Flying Fortress

1 oz. brandy
3/4 oz. vodka
1/2 oz. absinthe herbal liqueur
1/2 oz. triple sec

Pour all ingredients into a cocktail shaker half-filled with ice cubes. Shake well, strain into a cocktail glass, and serve.
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Jul 1

 In The News:

You’re In Trouble…
On Monday, BNP Paribas SA agreed to pay nearly $9 billion and pled guilty to violating U.S. sanctions against Sudan, Iran and other countries. The unprecedented settlement also includes a year-long ban on the French bank’s ability to conduct certain U.S. dollar transactions. The settlement marks the largest-ever fine paid by a bank for violations of U.S. economic sanctions and imposes other penalties rarely used against financial institutions. [Continue reading...]

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