FIRST NYC, THEN DC..MORE POWER OUTAGES ARE
LOOMING: COULD YOUR AREA BE NEXT?(Source Zero Hedge) Last week, New York City
suffered a blackout in the heat of summer. Con Edison said
the blackout that plunged parts of Manhattan into darkness was due to a substation’s
relay protection system that “did not operate as designed.”
utility company said the faulty system was at its West 65th Street
system detects electrical faults and directs circuit breakers to isolate and
de-energize those faults. The relay protection system is designed with
redundancies to provide high levels of reliability,” Con Edison said in a statement on Monday. “In this case,
primary and backup relay systems did not isolate a faulted 13,000-volt
distribution cable at West 64th Street and West End Avenue.” THOUSANDS WERE
WITHOUT POWER IN WASHINGTON DC A COUPLE OF DAYS AGO.
DC’s electric company, is trying to determine the cause of a power outage in
Northeastern DC that left thousands in the dark on Monday.
to a company spokesperson, this outage, too, was an
equipment failure. Chicago is also anticipating hot weather and potential
electrical failure. Officials from ComEd in Chicago are also preparing for
extreme temperatures – Friday is forecast to be the hottest, with a high of 96
degrees, according to the Weather Channel.
you have extreme weather of any kind, it can put stress on any system and can
cause outages,” said Terence Donnelly, the company’s president and chief
operating officer. “We’re watching the pending hot weather moving into our
system very closely, we have scheduled our emergency response center to open up
and we have scheduled extra crews scheduled to work extra hours.”
Trump Ignorant of China’s Resolve(Source globalresearch.ca) Nearly
three weeks after Trump and Chineses President
Xi Jinping met on the sidelines of the late June G20
Osaka, Japan summit, agreeing to resume trade talks, all that took place were telephone
communications between both sides. No date for a face-to-face meeting was
scheduled in either country. Things are no closer to resolving major
differences than earlier.
nations are world’s apart on major structural issues. The US side appears
unwilling to soften its unacceptable demands, China not about to accept them. The
last time bilateral talks were held in May, they broke down. Both sides remain
firm. China insists that further talks take place “on a basis of equality and
mutual respect” — what the US affords no other countries, notably not sovereign
independent ones. For progress to be made in talks, China demands what the
Trump regime won’t agree to — lifting unacceptable tariffs, removing Chinese
enterprises from its blacklist, notably tech giant Huawei and its affiliates,
along with calling off its dogs against the company’s chief financial officer,
ordering Canada to release her from house arrest.
US must also end its unacceptable one-sided demands, be willing to compromise
on key issues, and respect China’s sovereign developmental rights.
no sign whatever of the Trump regime’s willingness to negotiate on this basis,
differences between both sides remaining at impasse.
Venezuela may switch from SWIFT to Russian
payment system to skirt U.S. sanctions (Source RT)
is considering using the Russian alternative to the traditional SWIFT
international payment system, as the country braces for new US sanctions that
could further weaken its financial sector, according to Bloomberg. Venezuela’s
central bank has sent a request on the matter to the Central Bank of Russia
(CBR) as the regulator’s approval is necessary if Caracas wants to use the
payment platform, the report said. Russia developed its own money transfer
mechanism –called the System for Transfer of Financial Messages (SPFS)– in
2014, amid concerns that SWIFT’s political neutrality could be shattered under
Russian alternative payment system already includes nearly 400 users, including
the country’s major banks. Last month, the Central Bank of Russia (CBR) said
that foreign banks had shown interest in joining the platform and are already
Ebola outbreak in Congo declared a global
(Source Associated Press) The deadly Ebola outbreak in Congo is now an
international health emergency, the World Health Organization announced
Wednesday after a case was confirmed in a city of 2 million people. A WHO expert committee
declined on three previous occasions to advise the United Nations health agency
to make the declaration for this outbreak, even though other experts say it has
long met the conditions.
than 1,600 people have died since August in the second-deadliest Ebola outbreak
in history. The declaration comes days after a single case was confirmed in
Goma, a major regional crossroads in northeastern Congo on the Rwandan border,
with an international airport. Also, a sick Congolese fish trader traveled to
Uganda and back while symptomatic — and later died of Ebola. While the risk of
regional spread remains high, the risk outside the region remains low, WHO
chief said after the announcement in Geneva.
Iran state TV: Iranian forces seize foreign
oil tanker, crew(Source
said Thursday its Revolutionary Guard seized a foreign oil tanker and its crew
of 12 for smuggling fuel out of the country, and hours later released video
showing the vessel to be a United Arab Emirates-based ship that had vanished in
Iranian waters over the weekend.
announcement solved one mystery — the fate of the missing ship — but raised a
host of other questions and heightened worries about the free flow of traffic
in the Strait of Hormuz, one of the world’s most critical petroleum shipping
routes. One-fifth of global crude exports passes through the strait.
incident happened with tensions running high between Iran and the United States
over President Donald Trump’s decision to pull the U.S. out of the Iran nuclear
state television did not at first identify the seized vessel but said it was
intercepted on Sunday and was involved in smuggling some 1 million liters
(264,000 gallons) of Iranian fuel. Iran did not identify the nationalities of
prices, which had been falling since last week, ticked higher almost
immediately after the announcement.
said the tanker was seized south of its Larak Island in the Strait of Hormuz.
Neighboring Qeshm Island has a Revolutionary Guard base on it.
after that initial report, Iranian TV released footage of the ship surrounded
by Guard vessels and showed the registration number painted on its bridge,
matching that of the UAE-based MT Riah.
Putin and Macron call for efforts to save
AFP) Russian President Vladimir Putin and French leader Emmanuel Macron agreed
Thursday on the need to “consolidate efforts” to save the Iran nuclear
deal following months of soaring tensions, the Kremlin said. In a phone call,
Putin and Macron agreed the Iran deal known as the Joint Comprehensive Plan of
Action (JCPOA) was an “important factor in ensuring security in the Middle
East and maintaining a non-proliferation regime,” the Kremlin said in a
statement. US President Donald Trump last year withdrew from the accord and imposed
sweeping sanctions prohibiting Iranian oil exports in a bid to reduce the
clerical regime’s regional clout. In Germany, Russian Foreign Minister Sergei
Lavrov said “it would be a mistake to blame” Iran for the situation. He
said it was very important to reach “a common position of all the
remaining parties of the JCPOA and we will not achieve a result if it is
claimed that the safeguarding of this agreement depends solely on Iran”. His
German counterpart Heiko Maas said that “we have always made it clear that
we do not understand the exit of the United States from the JCPOA”.
Bank of England warns no-deal Brexit could
trigger economic shock (Source theguardian.com)
The Bank of England has warned that a no-deal Brexit could
trigger a material shock to the UK economy while causing widespread disruption
for EU companies by cutting them off from London-based banks. Stating that the
risk of Britain crashing out without a deal had risen, the Bank said the City
of London was ready to withstand such a scenario and avoid banks failing, as
they did in the financial crisis. However, there would still be major
disruption for companies. Mark Carney, the Bank’s governor, said: “The
perceived likelihood of no-deal Brexit has increased since last year. Although the
degree of preparedness for such a scenario has improved, material risks still
remain.” He said the absence of further action by Brussels to get ready for
Brexit could leave the door open to disruption for banks and their customers in
the EU, while warning that the UK would face “material economic disruption”
from a no-deal departure.
such disruption would primarily affect EU households and businesses, it could amplify
volatility and spill back to the UK in ways that cannot be fully anticipated or
mitigated,” he said.
Court rules against Florida officials on
(Source Associated Press) A Florida appellate court ruled that the state’s
approach to regulating marijuana is unconstitutional, possibly allowing more
providers to jump into a market positioned to become one of the country’s most
lucrative. If the ruling stands, it could force state officials to lift
existing caps on how many medical marijuana treatment centers can operate in
Florida. Tuesday’s ruling by the 1st District Court of Appeal in Tallahassee
was another setback for Florida officials trying to regulate the burgeoning
marijuana industry more tightly. It mostly affirmed a lower court’s ruling that
the caps and operational requirements violated the voter-approved
constitutional amendment legalizing medical marijuana in 2016. Florida now has
more than 240,000 people registered with the state to legally use medicinal
marijuana, according to the Office of Medical Marijuana Use. They are served by
142 dispensaries across the state, the majority operated by about a half-dozen
medical marijuana treatment centers that grow their own crop, process it and
sell it — a business model known as vertical integration.
business model and the limited number of treatment centers were points of
contention for Tampa-based Florigrown, which sued the state after being denied
Hurricane warning issued in Louisiana as
Tropical Storm Barry gains strength in Gulf of Mexico( Source USA today) A
hurricane warning was issued late Thursday as Louisianans grabbed sandbags or
fled to higher ground, their state threatened by Tropical Storm Barry. Barry,
the second named storm of the 2019 Atlantic hurricane season, formed Thursday
in the Gulf of Mexico. It could hit the Gulf Coast as a Category 1 hurricane
Saturday, the National Hurricane Center said. More than 2 million people
were under some level of advisory or warning as the storm approached. Louisiana
Gov. John Bel Edwards declared a state of emergency, warning that the
“entire coast of Louisiana is at play in this storm.” “There
are three ways that Louisiana can flood: storm surge, high rivers and rain,”
Edwards said. “We’re going to have all three.”
said National Guard troops and high-water vehicles would be positioned all over
about 10,000 people were ordered Thursday for portions of the east bank of
Plaquemines Parish, which encompasses the last 70 miles of the Mississippi
River before it reaches the Gulf of Mexico. Evacuation was also ordered for
parts of Lafourche Jefferson Parish, including the town of Grand Isle, on a
narrow barrier island in the gulf.
“It’s Going To Be Carnage” – Deutsche Begins
Culling 18,000 Employees(Source Zero hedge)
readers might have dismissed warnings of “Lehman-style” scenes outside Deutsche
Bank’s global offices as hysteria related to the bank’s restructuring. But the
mass firings that will eventually cull some 18,000 employees, roughly 20% of
the bank’s global workforce, have already begun. After announcing the bank’s
most radical restructuring plan in two decades, CEO Christian
Sewing on Sunday revealed that the bank would immediately move ahead with
the steep job cuts.
On Monday, whole teams of equity traders in
Tokyo and the bank’s other Asian offices were let go, the first step
toward winding down the bank’s equities sales and trading
bank is also planning cutbacks to its fixed income, and rates, trading
business. Shares bounced in pre-market trading on Sunday, but have since turned
lower; in recent trade, DB shares were off nearly 2%.
DB didn’t disclose the regional breakdown of the job cuts, it’s widely believed
that roughly 50% of the employees in its bloated investment bank will be let
go. That would mean the bank’s offices in New York and London will be the