Facebook admits year-long data breach exposed six million users

Anonymous has been surprisingly quiet.

Increasing Bond Yields Risk Debt Spiral in U.S., Japan, BIS Says

Central Banks Seeing Limits of Powers to Revive Growth, BIS Says

KRUGMAN: The Fed May Have Just Made A Historic Mistake, And Done More Damage Than It Realizes

The World's Central Banks May Have Just Started A Strike

Controlling The Implosion Of The Biggest Bond Bubble In History

The Odds Of A Market Crash Are Much Higher Than Normal

MARC FABER: The Way Things Are Going, Bernanke Will Have To Give Us 96 More Rounds Of Fed Stimulus

The bears are coming out of hibernation and its not even a week.

Russia and China oil cooperation estimated at the unprecedented $270bn

BRICS development bank can be ready by 2015 - Russian deputy PM

China's Sinopec Group has agreed to buy Marathon Oil Corp's (MRO.N) Angolan offshore oil and gas field for $1.52 billion, Asia's largest refiner producer said.

Sonangal Sinopec International Ltd, the group's subsidiary, will acquire Houston-based Marathon's 10 percent stake on the Angolan field called Block 31, it said in a statement late on Friday.

China's oil majors has been on an aggressive hunt for overseas assets to bulk up their energy reserves to meet future demand from the world's second-largest economy.

CNPC agreed in March to buy a $4.2-billion stake in a Mozambique offshore natural gas field and on Friday agreed to buy a 20 percent stake in Novatek's (NVTK.MM) $20-billion Yamal-LNG project in northwest Siberia.

The Angolan Block 31 field, operated by BP (BP.L), has estimated proved and probable reserves of 533 million barrels, Sinopec said, adding that it would hold a stake of 15 percent in the block when the transaction was completed.

The $1.52 billion due to be paid by Sinopec is part of a $3-billion asset disposal target set by Marathon in 2011 to shore up its balance sheet to fund further exploration and development projects.

The deal is subject to approval by the Chinese and Angolan governments.

Silvio Berlusconi found guilty in sex trial - http://www.ft.com/intl/c...b7de.html#axzz2X9OZbgEV

Indeed giants fall with a thud... What a way to exit the party...

Cyber attack hits South Korea websites



No comment.

Durable goods orders rise, house prices jump

Two Fed officials downplay worries over end to stimulus

Consumer confidence highest in over five years in June

New home sales near five-year high, prices rise

China's central bank seeks to allay fears of credit crunch

African Eurobonds and the Rise of the Dollar

"While it is commendable that African governments are seeking international capital for development projects, it is wise to consider history pertaining to the currency in which the debt is denominated.

During the 1931 Debt Crisis, the British Pound swung between $4.86 in August of 1931 to $3.15 in November 1932 and back to $5.17 by November 1933. This was a 35% depreciation and a 64% appreciation within 3 years. The flight of capital was first to the United States due to the debt defaults in Europe, Latin America and China, then back once Britain got off the gold standard and Roosevelt devalued gold from $20 to $35 per ounce to end the devastating hoarding and deflation..."

Read more:

http://www.scribd.com/do...-the-Rise-of-the-Dollar

Its up 100+ pts this morning, but the day is still very young

15,000 in sight...

With gold price dipping below $1300/Oz many mining firms are poised to shutdown as production costs outweigh income. Mines will be wiped off balance sheets. Mine firm shares will continue getting crashed. Bankruptcies and ridiculous cheap buyouts will escalate.

An arbitrage opportunity is being given by Mr Market...