VIENNA (AP) — Iran has failed to answer questions about the discovery of uranium particles at former undeclared sites in the country, the head of the U.N. nuclear watchdog said Monday, calling on Tehran to provide information “without further delay.” Rafael Grossi, the head of the International Atomic Energy Agency, has been pushing Iran for answers on three sites dating back many years where inspections had revealed traces of uranium of man-made origin, suggesting they were once connected to Iran’s nuclear program. The issue is separate from the ongoing negotiations aimed at bringing the United States back into Iran’s 2015 nuclear accord with world powers. Grossi said in March that Iran had agreed to sit down with international technical experts investigating the discovery, and said he hoped to “come to some satisfactory outcome” by the time of the IAEA board meeting in June. But in comments Monday to the IAEA’s board of governors, Grossi said “after many months, Iran has not provided the necessary explanation for the presence of the nuclear material particles at any of the three locations where the agency has conducted complementary accesses.” He said Iran also hasn’t answered questions regarding another undeclared location. “The lack of progress in clarifying the agency’s questions concerning the correctness and completeness of Iran’s safeguards declarations seriously affects the ability of the agency to provide assurance of the peaceful nature of Iran’s nuclear program,” Grossi said. “For objectivity’s sake, I should say that the Iranian government has reiterated its will to engage and to cooperate and to provide answers, but they haven’t done that so far,” he told reporters later. “So I hope this may change, but as we speak, we haven’t had any concrete progress.” Nick Note: these guys need to be stopped. the longer we wait the uglier it will get!
US mostly down premarket following global tax initiative
Equities on Wall Street traded mostly lower in the premarket session on Monday, with investors worried about what the recent news on the global tax plan would mean for the stock market. Over the weekend, the G7 agreed on a plan to instate a minimum global tax of at least 15%, something which the United States Treasury Secretary Janet Yellen stated will ensure fairness and “help the global economy thrive.” Meanwhile, US President Joe Biden and his predecessor had different views on how the country’s economic recovery was going, while Biden’s hopes for a bipartisan infrastructure bill seemed to be crushed. The Dow Jones stood flat at 4:26 am ET, while the Nasdaq 100 decreased 0.37% at the same time. Meanwhile, the S&P 500 traded 0.15% in the red a minute later. The euro declined 0.09% against the dollar trading for $1.21562 at 4:27 am ET. Nick Note: The stupid money are scratching their asses to figure out what this means..Answer absolutely nothing. It will have a zero effect on corporate profits. Its all about spreading out the the tax revenues. They are trying to get taxes paid at the source of the funds,,, Instead of where the service is delivered from. Tax laws are trying to catch up with the internet age. In the past services were deliver at the point of origin… where the customer is. That is no longer the case. Should Netflix pay taxes on where the server is located that delivers the film… Or pay taxes where the customer is who is subscribing to the service is located? The answer is not that easy to decide. The answer is the revenue is spread between both places. Look at the auto business. Taxes are paid where the car is made in the case of most US cars. Mexico. And their is a tax liability on the US portion of the sale. And it is very very complicated….. Not something Janet sweet heart will settle with a sound bite from the G7 publicity stunt. You got the WTO in this as well as the OCED….. it will take years to sort out. in the mean time it has NO stock market impact… Of course Wall Street Fucking idiots do not understand this. When you do you analytical work on your smart phone while drinking a Mocha Coffee reading article posted on bloomberg from other idiots. it becomes the usual wall street cluster fuck. its hard to get to right unless you realy know how things work…. …… Meaning you have been their done that and got the t shirt to prove it……
Factbox-G7 agreements on tax, climate and recovery
The Group of Seven rich nations agreed on Saturday to commit to a global minimum corporate tax of at least 15% on a country by country basis. Below are the details of the agreement, according to the wording of a final communique seen by Reuters:
ON A MINIMUM CORPORATE TAX:
We also commit to a global minimum tax of at least 15% on a country by country basis. We agree on the importance of progressing agreement in parallel on both Pillars and look forward to reaching an agreement at the July meeting of G20 Finance Ministers and Central Bank Governors. U.S. Treasury Secretary, Janet Yellen, left, and Eurogroup President Paschal Donohoe share a light moment as finance ministers from across the G7 nations meet at Lancaster House in London, Britain June 5, 2021 ahead of the G7 leaders’ summit. The Group of Seven rich nations agreed on Saturday to commit to a global minimum corporate tax of at least 15% on a country by country basis. Below are the details of the agreement, according to the wording of a final communique seen by Reuters:
ON A MINIMUM CORPORATE TAX:
We also commit to a global minimum tax of at least 15% on a country by country basis. We agree on the importance of progressing agreement in parallel on both Pillars and look forward to reaching an agreement at the July meeting of G20 Finance Ministers and Central Bank Governors. We commit to reaching an equitable solution on the allocation of taxing rights, with market countries awarded taxing rights on at least 20% of profit exceeding a 10% margin for the largest and most profitable multinational enterprises. We will provide for appropriate coordination between the application of the new international tax rules and the removal of all Digital Services Taxes, and other relevant similar measures, on all companies.
ON CLIMATE CHANGE:
We support moving towards mandatory climate-related financial disclosures that provide consistent and decision-useful information for market participants and that are based on the Task Force on Climate-related Financial Disclosures (TCFD)framework, in line with domestic regulatory frameworks. We …agree on the need for a baseline global reporting standard for sustainability, which jurisdictions can further supplement. We commit to a multi-year effort to deliver the significant structural change needed to meet our net zero commitments and environment objectives in a way that is positive for jobs, growth, competitiveness and fairness. We commit to properly embed climate change and biodiversity loss considerations into economic and financial decision-making, including addressing the macroeconomic impacts and the optimal use of the range of policy levers to price carbon.
ON THE GLOBAL ECONOMIC RECOVERY:
We commit to sustain policy support as long as necessary and invest to promote growth, create high-quality jobs and address climate change and inequalities. As our economies re-open, we will continue to take steps to limit the uneven impact of the crisis by targeting support to where it is needed most. Once the recovery is firmly established, we need to ensure the long-term sustainability of public finances to enable us to respond to future crises and address longer-term structural challenges, including for the benefit of future generations.
ON STABLECOIN:
We reiterate that no global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements through appropriate design and by adhering to applicable standards. Nick Note: well the lefties had a field day a grand slam. They shit on everyone. Tax the shit out of corporations….. got the grenie winnie climate change…. and the recovery give away to the bankers and shit on bitcoin while they were at… Seems like its the G7 PC conference.
EU preparing scheme for trade sanctions on UK – report
The European Union is working on a plan to impose trade sanctions on the United Kingdom in response to what it perceives as London’s lack of effort to come to a deal on the Northern Ireland Protocol from the Brexit Withdrawal Agreement, The Times reported on Saturday. The sources familiar with the matter stated senior EU officials believed British Prime Minister Boris Johnson is “taking us for fools” and that its chief negotiator David Frost “completely failed to engage” in the talks. Another source reaffirmed earlier reports about the bloc thinking the UK is trying to undermine the protocol. Back in March, the European Commission started a “formal infringement process” against Britain over what it described as London’s decision to “unilaterally delay the full application of the Protocol on Ireland and Northern Ireland concerning the movement of goods and pet travel from Great Britain to Northern Ireland.”
UK’s Hancock: Too early to decide on reopening
Health Secretary Matt Hancock says it is “too early” to make a decision on if the final lockdown restrictions will be lifted on June 21. However, he adds there is not anything in the data to suggest the date needs to be delayed. The majority of people infected with the Indian Covid variant have not had either dose of the vaccine, with just 3 per cent of cases (177 out of 5,599) having received both doses, Public Health England figures show.
Of 201 people who ended up in hospital just five had had both vaccine doses, while 138 were unvaccinated and 45 had had their first dose more than three weeks previously.
It comes as the R-rate in England has inched higher and may now be above 1. Data released on Friday by the Department of Health and Social Care puts the figure between 1.0 and 1.1.
Here the latest developments at a glance:
- The UK reported 19,114 new cases on Friday, slightly down from yesterday’s 20,634, as well as a further 1,014 deaths from Covid-19.
- The Cabinet Office was right to say all adults aged 50 and over will have had a coronavirus vaccine by May, Downing Street said after initially dismissing the report.
- The government’s top scientific advisers warned last month that a “complete, pre-emptive closure of borders” was needed to fully prevent new coronavirus strains being imported into the UK.
- Around 1 in 65 people in the community in England are estimated to have had the disease in the week ending 30 January, compared with 1 in 70 in Wales, 1 in 65 in Northern Ireland and 1 in 115 in Scotland. The week before the figures were 1 in 55, 1 in 70, 1 in 50 and 1 in 110 respectively.
- London continues to have the highest proportion of people likely to test positive for coronavirus in any region of England, with around one in 50 people estimated to have the virus.
- The reproduction number, or R value, of coronavirus transmission across the UK is between 0.7 and 1, according to the latest government figures. Last week, it was between 0.7 and 1.1.
- The outcomes of targeted tests to track the South African coronavirus variant in England could take up to two weeks, public health officials have said.
- Health secretary Matt Hancock said it was “too early” to decide whether restrictions could be eased in March, and said there were no current plans to roll out vaccine passports for those who had received both jabs, despite a report to the contrary.
- The Oxford/AstraZeneca coronavirus vaccine could be as effective at fighting the UK variant as it is in fighting the original virus, new research suggests.
- Covid vaccines approved for use in the UK are safe, with the benefits of their use far outweighing any risks, the UK’s medicines regulator has said after examining new data.
- Education minister Kirsty Williams told the Welsh government briefing on Friday that children in the foundation stage of their schooling would return to school from February 22.
- Scotland saw largest daily number of vaccinations given since rollout began, as another 48,165 patients in Scotland had received a first dose of coronavirus vaccine by Friday morning. Nick Note: For all intents and purposes England especially London are still in partial lockdown. Impossible to do business with them.
Covid: Small businesses’ account delays are over, insist banks
Banks Under scrutiny
The saga prompted the Treasury Committee to seek reassurances from six major banks – NatWest, Lloyds, HSBC, Barclays, Metro Bank and Santander – that they were committed to serving small businesses as the country emerged from lockdowns. In their replies, a number of banks said they had seen a rise in complaints, but against a background of rising demand and their own staffing pressures owing to Covid. “It is clear that delivering on bounce back loans at short notice rapidly increased the demand for business bank accounts at the same time as banks faced considerable additional work in delivering this extra support,” said Mr Stride. “It is good to hear from these banks that the availability of business bank accounts is now returning to pre-pandemic levels.” He said the committee would “keep a close eye” on the issue and on the commitment from banks to support small businesses as the UK started to move out of the pandemic. Nick Note: UK banks got in BIG trouble when they got the double whammy. The pandemic lock down closed their offices and sent our big banker ASSHOLE buddies home. Well guess what they had no way of getting their people to work at home. they lacked the computer skills, communication systems… Shit their staff could not even access their antiquated computer systems. Never mind fact they could not get on line they could not send nor answer emails never mind the phone. they could not connect calls from their main switch board to their staff at home. Their systems were crashing.. and then they lost their swift accounts and access to Europe as they were punished for leaving the EU without a deal on financial institutions. It was a shit house mes. So what was big high street banker solution. Why freeze accounts, close accounts that did business outside England especially in the EU. Worse yet they then systematically closed accounts and to make matters worse they all conspired to not open new business accounts. This scandal is slowly starting to come out. Because guess what? They are still not fully operational and are in complete disarray…… Because worse is coming……. Right now its a reopening stimulus party… But goveremnt cannot keep pumping money for ever. And the massive loans and stimulus they received and are processing will come to a end and they we will find out when the sheets are pulled of the bed who is fucking who….
Migom Global Corp. Announces the Acquisition of Migom Bank
NEW YORK, Jun 29, 2020 – Migom Global Corp. (OTC: MGOM), a US publicly traded company focused on building synergistic ventures in international banking, has notified the SEC of the acquisition of Migom Bank (www.migom.com), an international full-service ‘neobank’ domiciled and regulated in the small Caribbean state of Commonwealth of Dominica.
“Today, businesses across multiple jurisdictions and industries have faced numerous hurdles opening and maintaining simple operating bank accounts. Arbitrarily frozen funds, suddenly blocked accounts, and other previously rare limitations have become a commonplace occurrence in daily banking for many regular businesses. This type of practice is often disguised as “de-risking” in the name of compliance, which in itself has morphed from the necessary but secondary function into a universal shroud weaponized by some of the mainstream banks in their purge of unwanted business,” stated Thomas Schaetti, the President of Migom Global Corp. He continued: “In reality, those large international banks seem to be simply discriminating small and medium-sized, transaction-heavy businesses, which they don’t see as a profitable market. As the result, millions of unbanked or under-banked entrepreneurs have a hard time growing their companies and contributing to the economic development of their industries and regions. We identify ourselves with these companies and are making our best effort to position Migom Bank as the destination financial institution serving their needs around the world”.
Migom Global Corp. aims to bridge the gaps in international banking by building a network of banks and affiliated businesses to provide seamless integration of traditional regulated banking with new-age financial services and emerging fintech solutions. Committed to solving the problem of under-banked businesses and individuals worldwide, the Company recently notified the SEC of the acquisition of 100% of the shares of Migom Bank, a full-service global bank for the digital age that is available to customers across a variety of industries and regions. Migom Bank offers a full suite of e-banking services tailored to the needs of small businesses and entrepreneurs, including online account opening, holding and operating corporate and individual bank accounts with full online access to account management and detailed reporting, international SWIFT / SEPA transfers in multiple currencies, issuing prepaid debit cards, certificates of deposit, investment, savings accounts and other services. The regulatory information enumerating multiple services provided by the bank is published on its website. In addition to providing traditional banking services, Migom Bank offers its account holders one of a kind crypto-to-fiat and fiat-to-crypto OTC functionality, including secure custody and instant-execution trading of crypto assets with unlimited liquidity volumes, best global spot prices and immediate availability of funds or crypto assets. Migom Bank account holders can seamlessly transfer fiat funds into crypto assets and back using their mobile app or account dashboard online.
About Migom Global Corp:
Migom Global Corp. is a US publicly traded company (OTC: MGOM) building synergistic ventures in international banking, securities brokerage, electronic money distribution as well as digital assets origination and market making. The Company is developing the network of affiliated businesses in several countries, which may provide a seamless integration between the traditional regulated banking and financial services and the innovative emerging fintech solutions, benefiting consumers and businesses worldwide.
About Migom Bank: Migom Bank is a global neobank focused on the emerging markets offering a full suite of e-banking services tailored for the needs of small-to-medium-sized businesses and entrepreneurs. Migom Bank is fully licensed to provide retail depository and inter-banking services, full suite of cryptocurrency-related services, securities dealing and investment banking services, featuring deal-oriented compliance, higher private banking limits and custom-tailored flexible solutions to help its versatile international clientele. For more information, please, visit http://migom.com. Nick Note: they have a app for a online Fintech bank that trades one to one bitcoin…. whose value does not fluctuate . You should look into this.
Wall Street closes in green after jobs data
Wall Street ends solidly in the green despite jobs data miss
Shares on major United States markets closed in the positive territory on Friday after the latest economic data report showed that the unemployment rate in the country declined 0.3 percentage points. President Joe Biden and members of his administration took credit for the upbeat report, while Cleveland Federal Reserve President Loretta Mester noted that more progress would be needed for the Fed to alter its monetary policy measures. The Dow was up 89 points, 0.3%, to 34,666 at midday in New York. The Nasdaq improved 185 points, 1.3%, to 13,800, and the S&P 500 added 27 points, 0.7%, to 4,220. “It is not just the US that is doing well today — a fresh record high for the Dax should continue to bring momentum funds to Europe, while the weaker dollar and softer yields have proven a boon for gold too,” IG Chief Market Analyst Chris Beauchamp wrote. “…Still, traders will want to see today’s momentum last beyond the weekend, since it has been a dull few weeks and an uptick in both up and down volatility would be welcome.” Nick Note: It is pretty obvious the studio (fund) money wants to jump in the pool. They just need the opinion makers to tell them the water if fine. Our cush served us well. And you got to stay for the rally… How cool is that. we have another test and that is the CPI report next week. This is where the con men will try to peddle reflation as inflation. Kind of hard to see that as the year over year wage growth is only 2%. I can not belive the over priced nusismatic shit being sold to the Americ public as a hedge against non existant inflation….. We will soon be shorting the precious metals. As they fuck to the wall the latest group of gold and silver suckers.
US factory orders down 0.6% in April U.S. factory orders fall more than expected
WASHINGTON(Reuters) – New orders for U.S.-made goods fell more than expected in April as a global semiconductor shortage weighed on the production of motor vehicles and electrical equipment, appliances and components. The Commerce Department said on Friday that factory orders dropped 0.6% in April after increasing 1.4% in March. Economists polled by Reuters had forecast factory orders slipping 0.2%. Orders surged 14.2% on a year-on-year basis. Manufacturing, which accounts for 11.9% of the U.S. economy, is being supported by a shift in demand towards goods from services during the pandemic. But the strong demand is straining supply chains. The Institute for Supply Management reported this week that manufacturing activity picked up in May, but noted that companies were struggling to fill orders because of shortages of raw materials and labor. Factory goods orders in April were weighed down by a 6.1% decrease in orders for motor vehicles and parts. Orders for electrical equipment, appliances and components fell 0.7%. Unfilled orders at factories gained 0.2% after rising 0.5% in March. The Commerce Department also reported that orders for non-defense capital goods, excluding aircraft, which are seen as a measure of business spending plans on equipment, surged 2.2% in April instead of 2.3% as reported last month. Shipments of core capital goods, which are used to calculate business equipment spending in the gross domestic product report, increased 0.9%, unrevised from last month’s estimate. Business investment on equipment has enjoyed double-digit growth over the last three quarters, also driven by massive fiscal stimulus to soften the blow to the economy from the public health crisis. Nick Note: obviously the recovery still has a long way to go.
US nonfarm payrolls up by 559,000 in May
U.S. employers added 559,000 jobs in May and the unemployment rate fell to 5.8%, in a pickup of the labor market’s recovery from the pandemic amid signs that businesses struggled to fill job openings. Last month’s gain represented an improvement from April, when the unemployment rate was 6.1% and the economy added a revised 278,000 jobs, a gain much smaller than economists had forecast. Economists had expected 671,000 jobs added and a 5.9% unemployment rate in May. Job gains in May were led by leisure and hospitality, which added 292,000 jobs, education, and healthcare, the Labor Department said. The faster pace of hiring came as several factors are propelling a burst of economic activity. More Americans have become vaccinated against the coronavirus, and state and local governments have eased restrictions on businesses as Covid-19 cases have declined and as the federal government has relaxed its pandemic guidance. Those factors, along with federal pandemic aid, have prompted a pickup in spending, particularly at services businesses, which in turn is stoking labor demand. Employment in May was still down by about 7.6 million jobs compared with pre-pandemic levels, and 9.3 million people were unemployed and potentially available to work. The unemployment rate fell because more Americans who were searching for work found jobs, but the number of people in the labor force held nearly steady, suggesting that ample open jobs and some improvement in wages didn’t draw more workers off the sidelines in May. The labor force participation rate, the share of adults working or looking for work, edged slightly lower in May to 61.6%, down from 63.3% in February 2020. Average hourly pay for private-sector employees increased by 15 cents to $30.33 in May. Hourly wage rose 2% from a year earlier. Nick note: the job market is slowly coming back. AND the wage horror stories are mostly the bottom tier and greatly exaggerated. When you look at the numbers its apparent wage driven inflation is NOT a issue.