7 Percent Crash Causes Emergency Shutdown Of Stock Markets In China For The 2nd Time In 4 Days
Did you see what just happened in China? For the second time in four days, a massive stock market crash has caused an emergency shutdown of the markets in China. On both Monday and Thursday, trading was suspended for 15 minutes when the CSI 300 fell 5 percent, and on both days the total decline very rapidly escalated to 7 percent once trading was reopened. Once a 7 percent drop happens, trading is automatically suspended for the rest of the day. I guess that is one way to keep the stock market from crashing – you just don’t let anyone trade. And of course the panic in China is causing other markets to go haywire as well. As I write this, the Nikkei is down 324 points and Hong Kong is down 572 points.
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China turmoil sends oil, stocks sliding
Reuters - Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000s, after China guided the yuan lower and Shanghai shares tumbled by 7 percent, igniting fears of competitive devaluations across Asia. Less than half an hour after the market opened, Chinese stock trading was suspended for a second time this week. Brent crude prices skidded over 5 percent to an almost-12-year-low of $32.16 LCOc1, with worries over weaker demand from China adding to a persistent drag on prices caused by oversupply and near-record output levels.
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dow futures
Dow -356.00 / -2.11%
Level 16,482.00
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Monsanto announces 1,000 job cuts after first-quarter losses RT - Agrotech giant Monsanto said that it will eliminate 1,000 jobs as part of a bid to cut costs in the wake of lower profits. The cuts are the latest in a longer series of downsizing measures. Monsanto said that its income has been been hurt by a drop in major crop prices that has curbed farmers’ incomes and subsequent spending, as well as its continued trouble with countries’ monetary policies internationally.... The company, which sells agricultural chemicals and genetically engineered seeds, says that the most recent planned cuts will generate between $1.1 billion and $1.2 billion, up from previous estimates of $850 million to $900 million.
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California governor declares gas leak a state of emergency
Las Vegas Sun - California Gov. Jerry Brown declared a state of emergency Wednesday over a massive natural-gas leak that has been spewing fumes into a Los Angeles neighborhood for months. In a statement, Brown said he acted based on the requests of local residents in the community of Porter Ranch and the "prolonged and continuing" nature of the gas blowout at the underground storage facility. The well, owned by Southern California Gas Co., has been gushing up to 1,200 tons of methane daily, along with other gases. The utility is paying to relocate thousands of households after residents complained that the gases were making them sick. They say they have suffered nosebleeds, nausea, headaches and other ailments.
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Keystone XL company takes legal action after Obama 'overstepped authority'
The Guardian - The company behind the rejected Keystone XL pipeline fired off two legal challenges on Wednesday, accusing Barack Obama of overstepping his authority and violating the North American Free Trade Agreement (Nafta). TransCanada Corporation said it was looking to recover an estimated $15bn it spent over many years trying to win approval for the pipeline before Obama rejected the project last November.... The twin legal challenges – a lawsuit filed in a federal court in Texas on Wednesday and notice of intent to sue under provisions of the Nafta treaty – threaten to revive the longest-running environmental and political dispute of Obama’s administration.
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Caught on Tape – TSA Gropes 10 Year Old Girl for Two Minutes Due to Capri Sun in Baggage
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Southern Baptist Churches Start To Ordain Homosexuals And Perform Same-Sex Marriage Rituals
In a highly-ironic twist, the First Baptist Church of Greenville, SC, the same church that produced the very first president of the Southern Baptist Convention, William Bullein Johnson, is now an LGBT-affirming, pro-same sex marriage, and pro-transgender church, and they don’t care what you think of them. Looks like Pastor Jim Dant is leading a revolution to convince his sheep that the Bible supports the LGBT lifestyle. He has created something he calls the LGBT Discernment Team, whatever that is.
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No Gay Marriage in Alabama, Chief Justice Roy Moore Says
Alabama's chief justice of the state supreme court told state judges that they are required to maintain a ban on issuing same-sex marriage licenses, despite the U.S. Supreme Court ruling such bans unconstitutional last year.
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TransCanada Sues Obama Administration; Says Keystone Pipeline Rejection Was Unconstitutional
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Paul Craig Roberts: The Rule Of Law No Longer Exists In Western Civilization
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Soon I Will Begin to Bring Down Pastors, First One Then Another
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January 6, 2015 2:00pm Update from Burns, Oregon
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