News Feed

Barry Hearn to spice up office jobs with entrance music and dancing girls

News Biscuit - Fri, 25/07/2014 - 17:00
A Bedford-based logistics company is working with renowned sports promoter Barry Hearn, in an attempt to make their office jobs more popular with the addition of loud music, rowdy live audiences and dancing girls. The move was the idea of Managing Director Alan ‘The Big Boss’ Ball, who thinks Hearn’s track record of making a huge success of darts, and revolutionising snooker, makes him the ideal partner for his business.
Categories: Humour

Prince Charles busted in ‘Operation Poppyseed’ dawn raid

News Biscuit - Fri, 25/07/2014 - 17:00
Minutes later several horses were taken into care from Princess Anne's mansion at Gatcombe Park after testing positive for heroin.
Categories: Humour

Six-hour work day gains strength

NZ Herald - Fri, 25/07/2014 - 17:00
The so-called "normal" 40-hour working week appears to be a thing of the past, the 2013 Census indicates.Data from Statistics NZ shows that out of the 1.9 million people aged over 15 who completed the "hours worked" section of the...
Categories: Economic News

Auditor's report cites SPI breaches

NZ Herald - Fri, 25/07/2014 - 17:00
A property fund that last year did not have the money to fully pay investors owed $1.5 million failed to comply with the Securities Act by not keeping investor funds in a separate trust account, an auditor's report says.The Financial...
Categories: Economic News

Mary Holm: Insurance option on KiwiSaver cash

NZ Herald - Fri, 25/07/2014 - 17:00
Q: KiwiSaver default funds invest conservatively. I listened to the CEO of the Financial Services Council (FSC) on TV3 talking about an insurance option to protect the loss of KiwiSaver amounts due to a recession, as happened a few...
Categories: Economic News

Magazine: Undeveloped Pictures Of The Kennedys

The Onion - Fri, 25/07/2014 - 17:00
Undeveloped Pictures Of The Kennedys






Categories: Humour

SFO in £3m settlement with Tchenguiz

BBC Economics - Fri, 25/07/2014 - 16:59
The Serious Fraud Office (SFO) agrees to a £3m settlement with the business tycoon Vincent Tchenguiz for his arrest in March 2011.
Categories: Economic News

UK house prices slow in July, Hometrack survey reveals - IFA Magazine

Google NZ House Prices - Fri, 25/07/2014 - 16:49

UK house prices slow in July, Hometrack survey reveals
IFA Magazine
House prices in Britain rose at the slowest pace in more than a year in July following the introduction of tougher mortgage rules, according to a Hometrack survey on Friday. Prices climbed 0.1% this month, easing from a 0.3% increase in June, signalling a ...

and more »

A Graceful Way Around Obamacare Mandates

The Daily Reckoning - Fri, 25/07/2014 - 16:47

Although the mainstream media have turned its attention away from the wreckage of Obamacare, don’t think for a second that all is well.

As the politicos in D.C. focus their attention on the midterm elections in November, now is a great time to study, prepare, and seek out the most affordable, accessible, and highest quality options for you and your family.

“The Affordable Care Act is…creating financial problems for middle-class consumers.”

As far as health care cost is concerned, the only group that will be paying less under the Affordable Care Act (ACA), i.e., Obamacare, are low-income individuals who will receive subsidized care through state and federal exchanges.

The Heartlander Magazine points to a recent study by from Gov. Bobby Jindal that shows that “Americans have faced a cumulative $6,388 higher premium costs per individual and $18,610 per family under Obama’s policies.”

Due to the onerous, one-size-fits-all mandates under the ACA you’re certain to see significant price increases in insurance premiums, deductibles, and co-pays.

Multiple national media sources, like The Wall Street Journal, The Washington Times, and The New York Times just to name a few, have coined the term “insurance premium and deductible rate shock,” as a consequence of Obamacare?

CBS MoneyWatch reported: “The Affordable Care Act is turning out to be less affordable for some consumers, which it attributed to plans that carry huge deductibles, creating financial problems for middle-class consumers.”

This is stating it mildly since “some bronze-level plans, the lowest level of coverage, carry deductibles as high as $12,700 per year for a family of four.”

This means that if you or one of your family members fall and break a leg under an ACA exchange plan, you would immediately be set back almost $13,000, before your insurance even begins to kicks in.

This is a fact that Americans need to understand and prepare for. Sadly this is not the case. According to HealthDay, a recent survey found that “over 40% of respondents did not know what an insurance deductible was.”

If you have been following my reporting in the Laissez Faire Letter, you know that I have been recommending readers to opt out of Obamacare in any way possible. Unfortunately the options for opting out are slim since the law mandates that you carry insurance that is approved by the government or pay a penalty or tax to the IRS.

Fortunately for the tens of thousands of individuals, such an option does exist and it is quickly gaining popularity under the Obamacare mandate.

Referred to as Christian Health Sharing Ministry, the idea is quite simple. Essentially, Christian-based groups band together to share the expense of medical care among their members. Much like health insurance, members pay a monthly premium which is set by the ministry group, and pay for the medical expenses that are incurred by another participating member.

There are currently four Sharing Ministries in the U.S., which includes Samaritan Ministries, Christian Healthcare Ministries, Christian Care Ministry (Medi-Share), and Liberty HealthShare.

…a recent survey found that “over 40% of respondents did not know what an insurance deductible was.”

Combined, these entities serve over 240,000 people across 50 states to the tune of approximately 180 million per year on medical treatment expenses, according to the Health Sharing Ministry Alliance.

The benefits of participating in a Christian Sharing Ministry are quite appealing. For starters, members of these four sharing ministries are completely exempt from the Affordable Care Act’s individual mandate. You will not be assessed any fines or penalties for not signing up for the one-size-fits-all insurance products under the ACA.

Another great benefit is the affordability. The premiums and deductibles are much lower than all other health insurance products on the market. The monthly premiums, or amounts that participating members agree to share ranges between approximately $200-400, the lower end covering individuals and the higher for families.

Add to the fact that there is much more freedom of choice is choosing your care provider and you can quickly see the benefits of belonging to a health sharing ministry.

This being said, Christian Sharing Ministries are not for everyone. In order to be accepted as a sharing member, one must live a “biblical” lifestyle. This means that participating members must pledge their Christian faith, limit alcohol intake, abstain from all recreational and illegal drugs, and no sexual relations outside traditional marriages.

It’s also worth noting that there are potential pitfalls of joining a Christian Sharing Ministry. Most importantly these sharing ministries are not-for-profit organizations and are not regulated by state and/or federal insurance agencies.

Although these sharing ministries function just like typical health insurance programs, they are not insurance and are by no means bound to pay your medical bill should they deem your case as unnecessary.

Joining a sharing ministry is a personal choice and if you can overcome the potential pitfalls and live up to their Christian lifestyle conditions, the savings and freedoms are a welcome exemption from the Obamacare individual mandate, that will continue limiting your choices and draining your bank account.

As a final note, the immense savings that one realizes through a sharing ministry can be applied to other free market health care services to provide even better access and quality. I have covered many of these ideas, like Direct Primary Care, Free Market Cash Pay Hospitals, and Medical Tourism.

Wishing You A Happy & Healthy Day,

Judson Anglin
for The Daily Reckoning

Ed. Note: Do you have an Obamacare Survival plan in place in case when things go south? If you don’t set one up now, when things start falling apart, it might already be too late. Thousands of Laissez Faire Today readers have already gained access to our exclusive health care report. Sign up for FREE, right here, to make sure you don’t miss out on the next opportunity to get access to this report.

This article originally appeared in Laissez Faire Today.

Categories: Economic Blogs

Grouse off the shelves at M&S

BBC Economics - Fri, 25/07/2014 - 16:39
Marks and Spencer says it will not be selling red grouse this year after concerns about the way in which the game birds are killed.
Categories: Economic News

Smart people buy generic brands

CNN Economics - Fri, 25/07/2014 - 16:29
Read full story for latest details.
Categories: Economic News

Report: Countless Invasive Species Detained In EPA Black Sites

The Onion - Fri, 25/07/2014 - 16:15
WASHINGTON—According to leaked documents obtained this week by members of the press, the Environmental Protection Agency has for the past 15 years operated a network of secret black sites where an unknown number of invasive species are being held in...






Categories: Humour

India's gold import restrictions turn into political patronage for trading houses

Gold War: Traders Lock Horns with Star Trading Houses

By Ram Sahgal
The Times of India, Mumbai
Friday, July 25, 2014

http://economictimes.indiatimes.com/markets/commodities/gold-war-traders...

A war is brewing in the gold market with traders led by the All-India Bullion and Jewellers Association complaining to the Reserve Bank of India that its May 21 decision to allow premier and star trading houses to import gold for local sales has given half a dozen export houses a dominant position in the market and raised imports of the metal.

The RBI claimed that one of the complainants from the trade is likely to initiate action shortly, considering that the sharp rise in imports has happened during the traditionally slack month of June.

The trading houses strongly contested the claims of traders. They say the RBI's action had improved supplies and reduced the premium on gold, and that the traders' claims of the surge in gold imports are exaggerated.

... Dispatch continues below ...


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Four members of Delhi-based All India Bullion and Jewellers Association on Wednesday told C.D. Srinivasan, a chief general manager of the RBI, that the move to allow star trading houses to import gold for sale in the domestic market against the past two years' import performance has helped the big players import larger quantities than banks, which can import the metal only against their past three years' export performance.

Consequently, the star trading houses have gained greater control over supply in the domestic market than banks and other RBI-nominated agencies.

A letter presented by the association to Srinivasan, which the Economic Times has reviewed, claims that gold imports in June doubled to 106 tonnes from a month ago, thanks to the trading houses accounting for 75 tonnes or 70 percent of the imports. Banks, other nominated agencies, and export-oriented units are believed to have imported the rest.

Demand for gold tends to be slack in June and July as no festivities fall in these months.

Since these trading houses can directly export gold, they were able to export the mandated 20 percent of the first imported consignment post value addition, under the 80-20 rule, more quickly than nominated banks, which have to find export clients first. They were thus able to complete three or four transactions during the month against just a single transaction by banks, the letter alleged.

Further, a member present at the meeting told the Economic Times that since the large players have their own set of preferred clients in the domestic market, 80 percent of a consignment left after the 20 percent exported was provided to them to the exclusion of many bullion dealers and jewellers.

These charges were hotly contested by the likes of Rajesh Exports and Edelweiss, part of the six or seven export houses allowed by the RBI to import gold under the 80:20 rule since May 21. Officials from these two companies said that once the export obligation was complete under the 80-20 rule, they had provided gold to many constituents of the gold market.

"The RBI's move has greatly improved gold supply in the domestic market, because of which premiums have sharply declined from $20-25 an ounce (around 32 grams) to just $2-3 per ounce," said Rajesh Mehta, executive chairman of Rajesh Exports.

"These complaints are the handiwork of a few associations whose members have gained at the cost of the consumer who was being charged hefty premiums because supplies were constrained prior to premier and star trading houses being allowed to sell under 80-20."

An Edelweiss official agreed with Mehta and said he found the association's import figure "hugely inflated" because of probable "double counting."

"Overall the supply is in deficit and considering the demand in the pipeline we should see higher premiums between September and December," said Sudheesh Nambiath, senior analyst for GFMS Thomson Reuters, a precious metals consulting firm. "The current discount in the market reflects a seasonally low point with respect to demand. I think any measures to roll back policies to pre-May 21 can strain the jewellery industry significantly."

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

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Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

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Categories: Goldbugs

Roger Goodell To NFL Players: 'Murdering Your Wife Will Result In Automatic 4-Game Suspension'

The Onion - Fri, 25/07/2014 - 16:10
Roger Goodell To NFL Players: 'Murdering Your Wife Will Result In Automatic 4-Game Suspension'






Categories: Humour

Alitalia approves $336 million capital increase

NZ Herald - Fri, 25/07/2014 - 16:00
MILAN (AP) Alitalia's board has approved a 250 million euro ($336 million) capital increase to save the struggling airline until it can be taken over by Abu Dhabi-based Etihad Airways.The Italian airline has been trying to overcome...
Categories: Economic News

American Voices: Study Finds Dogs Can Experience Jealousy

The Onion - Fri, 25/07/2014 - 16:00
A new study has found that dogs are capable of experiencing feelings of jealously similar to those of humans.






Categories: Humour

How Hotcha hopes to become the Domino's of Chinese takeaway

Telegraph Business - Fri, 25/07/2014 - 15:59
Chinese food over took fish and chips to became the country's favourite takeaway this year. But there is no national rival to the big pizza chains - yet






Categories: Economic News

Indian gold imports fell 25% over year -- not counting smuggling, of course

Gold Imports Stood at 638 Tonnes in 2013-14

By the Press Trust of India
via Financial Express, New Delhi
Friday, July 25, 2014

http://www.financialexpress.com/news/gold-imports-stood-at-638-tonnes-in...

Gold imports in 2013-14 stood at 638 tonnes, a decline of 25 per cent over the previous fiscal year, Parliament was informed today.

The quantity of gold imported in 2012-13 was 845 tonnes and in 2011-12 it was 919 tonnes, Minister of State for Finance Nirmala Sitharaman said in a written reply in the Lok Sabha.

In the April-June period of current fiscal, the quantum of gold import stood at 221 tonnes while in value terms it was Rs 54,792 crore, she said.

... Dispatch continues below ...


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The value of gold imported was at Rs 2.28 lakh crore during 2011-12, Rs 2.45 lakh crore in 2012-13 and Rs 1.60 lakh crore in 2013-14.

Sitharaman said the cases of gold smuggling had gone up in 2013-14 at 2,441. In 2012-13 and 2011-12 the number of such cases stood at 869 and 500 respectively.

Following a sudden spurt in gold import in the beginning of 2013, the government had hiked import duty on the precious metal to 10 per cent in phases.

Also the government and the Reserve Bank imposed certain other import restrictions, including linking of imports to exports to prevent outgo of foreign exchange, adding to instances of smuggling.

Sitharaman said the Central Board of Excise and Customs has communicated to all field formations to keep a close watch on the trend of smuggling of gold.

Other intelligence agencies, like the DRI, are also keeping a close watch on gold smuggling, she added.

High gold imports also pushed up the current account deficit as it rose to USD 88.2 billion or 4.7 per cent of GDP in 2012-13. Through import curbs, the CAD has been brought down to USD 32.4 billion or 1.7 per cent in 2013-14.

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Categories: Goldbugs

When U.S. companies dodge taxes, is it unpatriotic?

CNN Economics - Fri, 25/07/2014 - 15:55
Read full story for latest details.
Categories: Economic News

8 rights of pregnant women at work

CNN Economics - Fri, 25/07/2014 - 15:54
Read full story for latest details.
Categories: Economic News
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