Twitter’s growth in US grinds to a halt – Business Insider – Business Insider

Business Insider
It’s bad news for a company whose U.S. market is its largest driver of revenue. In its second quarter financial earnings statement, the social network had 65 million monthly active U.S. users — the exact same amount as last quarter. Even if you add in …
Twitter shares climb after earnings surprise – Yahoo FinanceYahoo7 News
More than 450 staff fly Twitter’s nest – – Financial TimesFinancial Times

all 173 news articles …read more

From:: Social Finance – Google Alert

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Russia is swimming in oil

By Georgy Borodyansky

Russia’s oil industry lacks the infrastructure to avoid spills and leaks; and the environmental consequences are horrific.

Russian oil giant Rosneft has dumped on us northerners once again. It’s unlikely that anyone apart from the locals would have heard about the pipeline which burst on the outskirts of Nefteyugansk if photos of the aftermath hadn’t appeared on social media.

The pictures were taken by Andrei Seleznyov, a light aircraft pilot; and the local media, swiftly followed by national TV and press, picked them up after they appeared online on 27 June.

Burst pipes

The burst had in fact taken place several days before on 23 June. The pipeline, lying along the bed of a channel at a depth of around three metres, burst at a point about a kilometre outside town, covering a four hectare area of water with a one-millimetre-thick iridescent film.

Nefteyugansk oil spill. Picture taken by Andrei Seleznyov.

This, at least, was the estimate of the damage made by inspectors from Russia’s environmental watchdog Rosprirodnadzor, who visited the site on 2 July, accompanied by the deputy CEO of the Rosneft subsidiary responsible for the pipeline, as well as two independent observers.

According to the Environmental Ministry, the real extent of the spill was in fact impossible to assess. High water levels led to the further dispersal of oil, some of which ended up on the channel’s banks and in the gardens of neighbouring houses. Environmental officers are confident that floating booms will prevent the oil flowing into the nearby massive river Ob, but the real size of the slicks, both in rivers and on dry land, will become clear only after the lifting of gale warnings in the area.

The real extent of the spill …read more

From:: OpenEconomy

Posted in Economics Tagged with:

Why You Should Know the Different Types of Credit Card APRs

By CompareCards


A credit card’s interest rate is the price you pay for borrowing money. For credit cards, the interest rates are typically stated as a yearly rate, called the Annual Percentage Rate (APR). Where it can become a little more complicated, however, is that each single credit card may have multiple APRs that apply to it. The interest rate you are charged will depend on the rules and policies of your card company, which are the legal guidelines they must follow that are established by federal government regulators.

While APRs may sound confusing and complex on the surface, once you know how to find your card’s APR and you know which APR applies to you it is relatively simple. The problem for many cardholders, however, is that they don’t grasp the concept of APR and they don’t know what rate they are being charged or how that relates to their own consumer behavior.

Here’s a common example that puts that into perspective. A credit card company may entice you to open a new account with them by promising a very low interest rate. Later on, however, you notice that they have started charging you two or three times as much interest – or even 10 times your original APR. Something terrible has happened, but why has it occurred and what in the world can you do about it?

Don’t panic because that’s the purpose of this explanation. We’ll cover the basic nuts and bolts of APR’s for you in easy-to-comprehend language. That way you’ll never have to deal with that kind of unexpected shock when you receive your monthly credit card billing statement.

Fixed vs Variable Rates

For starters, it’s important to know that there are two categories of APRs; they can be variable, which means they can change …read more

From:: Money – The Huffington Post

Posted in News

Deus Ex Machina: IRS Has an Epiphany, Realizes It Has the Power to Close a Tax Loophole

By Citizens for Tax Justice …read more

From:: Citizens for Tax Justice

Posted in Economics Tagged with:

Redbook Retail Sales, Case-Shiller House Prices, PMI Services, Consumer Confidence, Richmond Fed, Oil Capex, Truck Tonnage



Still bad:



I don’t put much weight on Markit surveys, but the optimism comment is interesting:



Service sector growth is strengthening slightly this month based on Markit’s July flash index which is up 4 tenths to a very solid 55.2. New orders are at a 3-month high and are getting a boost from both consumer spending and from business customers, the latter a welcome signal of strength for business investment. Backlogs are up and so is hiring. But optimism in the 12-month outlook, perhaps shaken by the outlook for the global economy, is the softest it’s been in three years. Input prices continue to rise but final prices are flat. This report is mostly upbeat and, despite the easing in the outlook, points to solid contribution from the service sector.

This kind of drop is concerning, and I’ve been watching for employment, a lagging indicator, to take a dive:



Consumer confidence has weakened substantially this month, to 90.9 which is more than 6 points below Econoday’s low estimate. Weakness is centered in the expectations component which is down nearly 13 points to 79.9 and reflects sudden pessimism in the jobs outlook where an unusually large percentage, at 20 percent even, see fewer jobs opening up six months from now.

Less severe is weakness in the present situation component which is down nearly 3 points to 107.4. Here, slightly more, at 26.7 percent, say jobs are hard to get but this is still low for this reading.

A striking negative in the report is a drop in buying plans for autos which confirms weakness elsewhere in the report. Inflation expectations are steady at 5.1 percent which is soft for this reading.

This report is citing problems in Greece and China as possible factors for the decline in expectations, …read more


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The uncertain relationship between national insurance and income tax | Letters

By Letters

Larry Elliott, in his recommendation to merge income tax and national insurance contributions (Analysis, 27 July), makes only a brief reference to any potential impact on the structure of the social security system. But this could be significant.

A merger on the paying-in side may seem technically tidier. But to remove any connection between contributions and benefits runs counter to the new single-tier pension, which deliberately kept such a link.

Continue reading… …read more

From:: Personal finance and money news, analysis and comment –

Posted in News