WASHINGTON, Aug. 4— The House of Representatives approved the Administration's tax-relief bill today by a 3-to-1 margin and sent it to President Reagan for his signature after repelling an attempt by Northern Democrats to reopen consideration of the bill.

White House officials said that the President would sign the bill in Washington on Thursday or later in the month in California, where he will fly Thursday for a vacation.

The House vote was 282 to 95, considerably more than the two-thirds needed under the House rules to thwart the attempt to reopen the bill. That effort was led by Representative James M. Shannon, Democrat of Massachusetts. Voting with him were 93 other Democrats, largely from the upper Middle West and Northeast, and one Republican, James M. Jeffords of Vermont.

The bill before the House was the compromise worked out last weekend by a House-Senate conference committee that met for 16 hours, from 4 P.M. on Friday to 8 A.M. Saturday. Voting for it were 113 Democrats and 169 Republicans.

The Air Force said today that it flew an unspecified number of House members back to Washington for today's three-and-a-half-hour House session, then flew them back home. On Sunday and Monday, the Air Force flew 11 missions, bringing senators to Washington for the brief Senate session on the tax bill Monday and then returning them to their home states or regions. A Defense Department spokesman said the ferrying was requested by the White House.

The Senate approved the conference bill yesterday by a vote of 67 to 8 after turning back an attempt by Senator Edward M. Kennedy of Massachusetts and some other Democrats to reduce the bill's relief for crude oil producers and royalty owners.

A similar attack by liberal Democrats on the oil provisions led by Mr. Shannon generated more than an hour of lively House debate. Mr. Shannon said he wanted to reopen the bill to reduce the relief it gives from the 1980 ''windfall profits'' tax. To thwart the attempt, Dan Rostenkowski, the Illinois Democrat who is the chairman of the Ways and Means Committee, asked the House to suspend the rules and pass the bill, a procedure that requires a two-thirds majority of those voting.

Mr. Rostenkowski, speaking first in the debate, took pains to remind the House that the three-year, 25 percent cut in tax rates mandated by the conference bill was President Reagan's policy, not that of the Democratic majority or leadership. A Democratic bill was defeated last week by a House vote of 238 to 195.

''The President succeeded in passing the program he wanted - and then some!'' Mr. Rostenkowski exclaimed, ''and we congratulate him.'' For the good of the country, he added, ''I hope this plan succeeds.''

Looking ahead, Mr. Rostenkowski promised that the Ways and Means Committee would ''return to bipartisan tax-writing.'' Mr. Shannon, asking the House to vote against approval of the bill under suspension of the rules, said the only issue he was raising was the $11.7 billion worth of relief from the profits tax over five years.

Other Democrats, such as Parren J. Mitchell of Maryland and Ted Weiss of Manhattan, reminded the House that Congress had voted to cut aid to the handicapped, the elderly and the working poor.

Mr. Shannon, appealing for support from Northern Republicans, noted that the House had no opportunity last week to vote separately on the oil issue.


WASHINGTON, Sept. 15— A Republican Congressman, running contrary to Reagan Administration policy, intends to introduce on Thursday a measure that would cut off United States funds to the United Nations Educational, Scientific and Cultural Organization if the organization takes steps to restrict the world's press.

Representative Robin L. Beard Jr. of Tennessee plans to offer an amendment to a bill authorizing funds for the State Department that would mandate a yearly accounting of actions by Unesco affecting international communications.

If the organization should attempt to license or censor journalists, or to introduce a binding code of conduct, the United States would be required to stop all payments to it. American contributions form about 25 percent of Unesco's budget.

Congressional aides say the Beard amendment has a ''reasonable'' chance of being adopted. They say that the issue unites this year the conservative forces that traditionally oppose United Nations organizations and liberals who view Unesco discussions on a ''new international information order'' as a campaign to curtail the activities of journalists, particularly those from nations with a free press.

A similar amendment was offered in June in the Senate by Daniel Patrick Moynihan, the New York Democrat, who sought to reduce American contributions to Unesco rather than end them. That amendment was rew ritten into a nonbinding ''sense of Congress'' resolution before being attached to the Senate version of the same authorizationbill. Resolution Introduced in House

A ''sense of Congress'' resolution has also been introduced in the House by Representative Millicent Fenwick, Republican of New Jersey, and Bob Shamansky, Democrat of Ohio. That resolution, which has the State Department's approval, would state that Unesco should cease its efforts to control the activities of journalists or the flow of news. It will also come up for a vote on Thursday.


The Justice Department plans to sue William E. Colby, a former Director of Central Intelligence, for publishing his 1978 memoir, ''Honorable Men,'' without clearing all editions with the Government, Newsweek magazine said yesterday.

The magazine said the Colby case was meant by the Reagan Administration to serve notice that the White House would not tolerate security leaks or breaches of legal contracts between the Federal Government and its workers.

Citing Government sources, Newsweek said in its Sept. 28 issue that the case probably would be settled with a consent agreement, perhaps forcing Mr. Colby to turn over some profits from his book to the Government. No criminal charges are planned, a Justice Department official said in Washington last night. The official declined to comment on the possibility of a civil suit.

The asserted breach of security occurred when galley proofs of Mr. Colby's book reached a French publisher before the C.I.A. could demand that passages be deleted, Newsweek said.

Mr. Colby disclosed that an agency spy ship, the Glomar Explorer, had failed in an attempt to recover nuclear missiles, steering and transmission devices, and codes from a Soviet submarine three miles beneath the Pacific Ocean.

Although the book was entirely favorable to the agency, Newsweek said, its tone will not be an issue.''Neither the political views of the author nor the fact that the writing is favorable to or critical of the intelligence agency involved will be a factor in deciding whether to sue,'' the magazine quoted Attorney General William French Smith as saying.

Newsweek also said that the Administration had ordered several investigations of possible breaches of national security, including the disappearance of State Department policy papers on southern Africa, removal of studies on the MX missile from the Pentagon and acquisition by Marvin Kalb of NBC News of position papers on Pakistan.

The magazine said that William Casey, the current Director of Central Intelligence, had asked for a special F.B.I. team to investigate leaks within the Central Intelligence Agency, but that bureau officials refused. They were said to feel that the bureau should not be working for the C.I.A.


NEW YORK — When Josh Marion had to book a last-minute business trip to New York, he knew the plane ticket wouldn’t be cheap.

A loyal Delta flier, he went to TripAdvisor, which lists flights from many airlines, to compare Delta’s price against those of its rivals. He hit a wall. “The fare wasn’t even there,” he said.

Indeed, Delta pulled that information from TripAdvisor last year. It did the same with a number of European online travel agencies this year, saying that they did not have permission to use its data.

This is just what Delta would like to see more of, specialists say. Airlines are increasingly pushing and prodding travelers to book flights through their own websites, where they can sell more services like in-flight entertainment and add-ons like hotel reservations. They also bypass paying a commission to websites that book plane tickets.

For consumers, this means the hunt for the lowest fare has become more difficult as the number of places where they can comparison-shop has declined. In many cases, they just give up.

Already, travelers typically use three or four sites when shopping for a flight, according to Phocuswright, a travel market research firm. “The number goes up for your more price-sensitive travelers,” said Douglas Quinby, vice president for research.

“Consumers are going to go to the price-comparison sites and thinking they’re comparing prices, but they’re not,” said Fiona Scott Morton, an economics professor at Yale University who conducted a study for the Travel Technology Association, a trade group representing air travel sites, asserting that the airlines hurt competition when they cut independent distributors out of the loop.

Analysts say airlines’ evolving distribution strategy is another outgrowth of a consolidated airline industry, where customers now face additional charges for just about everything except using the bathroom.

Last week, Lufthansa took an even more extreme step when it announced that starting in September it would charge passengers roughly $18 for the option of booking plane tickets through third-party sites. To avoid the fee, passengers must book the tickets through Lufthansa-owned channels.

The company said Lufthansa was just ensuring that customers pay for only the services they want. “More customized services will better reflect customers’ preferences,” said Juergen Siebenrock, a Lufthansa vice president.


What would a Boston 2024 beer taste like?

Hopefully, not as bitter as the debate over the Games has been. But we may find out soon, as the Boston Beer Company has filed two trademark applications to use the term in connection with beer. It would be the first trademark on the term.

The Boston Business Journal, which first wrote about the trademark filing, reported that a Boston Beer Co. spokeswoman said the company had a “very preliminary conversation” with Olympic proponents to collaborate on a beer in the future. Attorneys told the BBJ that the trademark applications also could give other companies leeway to make sponsorship deals with the Olympic organization, but could prevent them from using “Boston 2024” in their beer names.

The Boston 2024 Partnership, Inc., the private organization known commonly as Boston 2024, doesn’t appear to have filed a trademark on the name. Mark Leonardo, an intellectual property attorney at Brown Rudnick LLP, said trademarking the term used to describe the Olympics could be difficult. But he said using the name on websites, marketing materials, and other contexts could help Olympic backers protect the brand.

“That ‘Boston 2024’ is carrying some common-law trademark rights,” said Leonardo. “That’s another way to protect it.”

Several trademark applications for “LA 2024” filed by Southern California Olympic backers have been filed and abandoned, according to the website of the US Patent and Trademark Office, and game proponents in Washington, D.C. had filed trademark applications as well.

Boston 2024 and the brewers of Sam Adams didn’t immediately return a request for comment.

Summary: Hopefully, the beer proves less controversial than the city’s bid for the Games.


The main Obamacare-related tax or penalty facing potentially millions of people is not due until next year, but avoiding it will require action before the end of this tax season.

Under the ACA, most people are required to have obtained some form of coverage by March 31 or face a tax penalty when they file next year. That penalty is $95 a person (and up to $285 for a family) or 1 percent of AGI above $20,400 for a family, whichever is higher. It is deducted from any refund owed by the IRS.

Brian Haile, senior vice president for health care policy at Jackson Hewitt Tax Service, said that many clients erroneously believe the penalty is only $95 per adult and $47.50 per child.

When he tells clients that if they make $100,000 a year they will owe more than $700 for going without insurance, he said, "They say, 'You're kidding me!' "

Haile said most people are also unaware that they must update the federal government this year if they are receiving subsidies to offset the cost of insurance premiums bought on a health-care exchange and the size of their household changes—for example, from a birth, a child turning 21, a marriage or a divorce.

(Read more: 7 tech tools to make tax prep less frustrating)

The reason is that subsidy amounts are based on household size, and if it shrinks during the year but you still receive the same amounts, you may owe the IRS to rebate the excess subsidy when you file next year.

Summary: Several developments related to the Affordable Care Act will be hitting many filers this tax season, but they also need to watch issues that could affect them next year.


The decision to embrace crowdfunding marks a departure for the Smithsonian, which normally relies on federal funds and voluntary donations.

Alison Mitchell, public affairs specialist at National Air and Space Museum, told CNBC that this campaign was the first of many for the museum, who has now entered a multi-project partnership with Kickstarter.

"Funds for Neil Armstrong's spacesuit is the first of many. We thought this artifact, given that it is one of the most iconic in the collection, was a choice to start with."

"The Smithsonian has always needed private funding for projects like this and Kickstarter gives us a new way to do that. Through these campaigns, the public will have a chance to be involved in the entire process – from fundraising to completion – regardless of their level of support."

As the Smithsonian enters this digital donating stage, other museums may be inspired to integrate this system more rigorously. In a England- focused "Digital Culture 2014" report, one of the most popular trends predicted to grow for art institutions in 2015 was crowd-funding and online donations.

Read MoreBuild the economy on Earth by exploring space: Tyson

Summary: The famous Smithsonian has launched its first crowdfunding campaign in the hope that fans will help preserve an iconic piece of space memorabilia.


The Hasbro factory in East Longmeadow that has for decades made games like Monopoly, Battleship, and Connect Four will be sold to a Belgian card company.

Pawtucket, R.I.-based Hasbro said in a Wednesday securities filing that it would sell the factory to Cartamundi, a Belgian company that makes playing cards and cards for games. The factory was previously owned by Milton Bradley before Hasbro acquired the Massachusetts game company in 1984.

The financial terms weren’t disclosed, but Cartamundi agreed to continue to employ the factory’s manufacturing and distribution employees as normal. The factory has approximately 350 employees, the companies said. The game makers plan to close the deal in the third quarter of this year.

Under the agreement, Hasbro will sell its only two factories to Cartamundi, including the Massachusetts location and another in Waterford, Ireland, which mostly make games. Most of the company’s toys, like Nerf guns, Transformer toys and Play-doh, are made by third-party manufacturers in China and other countries, according to its last annual report. Hasbro’s game segment accounted for about 29 percent of its consolidated net revenues last year, the company’s statements show.

The Pawtucket company said the sale would bolster its efforts to diversify from its traditional products into the broader entertainment industry. The company is in the midst of a “transformation from a toy and game company to an organization delivering global brand experiences,” the company’s chief executive officer and chairman said in a letter to shareholders earlier this year.


Japan's Nikkei 225 index touched 20,913 points - its highest level since June 26 - in early trade.

In the energy sector, JX Holdings and Inpex elevated 2.1 and 1.5 percent, respectively. Idemitsu Kosan Co. and Showa Shell Sekiyu, which are reportedly seeking to expand their operations in the rest of Asia after their upcoming merger, opened up 2.9 and 0.4 percent, respectively.

Mitsubishi Materials Corp. and Sumitomo Metal Mining also climbed 3.5 and 5.3 percent, respectively, on the back of a rebound in commodity prices.

Precision machinery maker Screen Holdings advanced nearly 2 percent after announcing a 47.3 percent rise in April-June operating profit.

Meanwhile, the Bank of Japan is due to release its monthly report at 4.30pm local time.

Australia's S&P ASX 200 index was on course for a second straight day of gains, but a mixed bag of earnings limited the bourse's advances.

Market bellwether BHP Billiton surged 3 percent from the get-go, while Rio Tinto and Fortescue Metals advanced 2.7 and 2.1 percent, respectively. Gold producers Evolution Mining and Newcrest Mining soared 7.6 and 4.7 percent, respectively, while Santos and Woodside Petroleum piled on 2.2 and 1.5 percent, respectively.

Hearing implant maker Cochlear and Domino's Pizza slumped 14.6 and 7.7 percent, respectively, after announcing their earnings report.

South Korea's Kospi index notched up at the start of trade.

Affiliates of Lotte Group are in focus as Shin Dong-bin, chairman of Lotte Group and co-CEO of Lotte Holdings, is scheduled to issue a second apology later on Tuesday, in a bid to curb growing criticism of the retail group.

Lotte Chemical and Lotte Shopping rallied 3.3 and 4.4 percent, respectively, while Lotte Insurance bounced up 1 percent.

Meanwhile, Singapore's final gross domestic product (GDP) contracted 4.0 percent on-quarter in the April-June period, better than a Reuters' estimate of 4.6 percent. On a year-on-year basis, GDP expanded 1.8 percent in the second quarter, beating the advance estimate of 1.7 percent and a Reuters' forecast of 1.5 percent.

Summary: Asian shares are likely poised for a higher open, taking the lead from a rally on Wall Street overnight.


Most Americans don't even have a plan of where to start.

Only half of American households have a savings plan with specific goals, and only four out of 10 have a budget that allows for sufficient savings, according to the survey.

(Read more: Should I pay off mortgage with my 401(k)?)

But those who have calculated how much they need to save are far more likely to reach their savings goal, according to EBRI president and CEO Dallas Salisbury. Setting up automatic savings for emergencies, college and retirement either through a bank or an employer can help individuals reach their goals, he said.

Lower-income Americans—those with annual household incomes of $25,000 to $50,000—report having the most difficulty saving, including spending less than their income and saving enough for retirement, according to the survey.

And fewer than two-thirds of people in that group have a sufficient emergency fund, compared with over 80 percent of those who make $50,000 to $100,000. Yet that means nearly 20 percent of higher middle earners don't have enough saved for emergencies, either.

(Read more: How to make sure you don't outlive your nest egg)

The problem is that one-fifth of higher-income adults fail to spend less than their income and save the difference. While that's less than the 30 percent of lower-income Americans living beyond their means, it is still a significant percentage of people who are better off than most.

Another disturbing statistic comes from the National Foundation for Credit Counseling's Financial Literacy Survey which revealed that 31 percent of consumers have zero non-retirement savings.

"How did you pay for your last emergency? If it was with a credit card, that's a red flag," said Gail Cunningham of the NFCC, an America Saves partner organization. "Americans with no money socked away for the inevitable rainy day are on a slippery slope. When money is tight, it's difficult to think about saving. However, that is when an unplanned expense can be most devastating financially."

Higher-income households often find it just as difficult as those with lower income to earmark money for saving.

"The more people make, the more they spend," Cunningham said. "What we suggest is when you get a raise or bonus pretend it never happened. If you were living just fine before you got it, bank that extra money."

To find out more about America Saves Week and to assess your own savings, go to www.americasavesweek.org.

Summary: Only about one-third of Americans report making "good" or "excellent" progress with saving, according to a new survey.


08/17/2015 AT 05:25 PM EDT

Another day, another Twitter feud. Going "at" it today (pun intended)?

The social media squabble started Monday afternoon when Malik

a user who posted a since deleted Tweet featuring side-by-side quotes on the music industry from

The quote from Swift finds her

. (Swift has been a

for up-and-coming artists receiving their due in royalties.) Meanwhile the quote from Cyrus is taken from a

, in which she said, "I've made my money. If no one buys my album, it's cool. It's fine. I've got a house, and I've got dogs that I love. I don't need anything else."

Harris, seeing Malik's Retweet as a dig at Swift, Tweeted at him directly:

"You've made your money? Coolâ¦f--- the 99 percent of musicians who depend on these services to survive right? yeah f--- em."

Then, the "How Deep is Your Love" DJ went on a rant, posting:

"If u don't get what it means when successful artist uses their celebrity to benefit every other musician and songwriter in the industry â¦ stay out of my f---in mentions pls â¦ While u kids are refresh voting teen choice awards there's some poor f---er in a basement making your new favorite record trying to survive â¦ Meaning â¦ stay out of things you don't understand."

didn't take kindly to Harris's retorts and responded, Tweeting: "ha you just made an absolute fool of yourself â¦ you clearly didn't understand what I just said either â¦ so I suggest you calm your knickers before them dentures fall out â¦ Oh and I write my own s--- too d---head."

@CalvinHarris ha you just made an absolute fool of yourself mate

@CalvinHarris you clearly didn't understand what I just said either

@CalvinHarris so i suggest you calm your knickers before them dentures fall out

Harris seemingly cooled down, responding to Malik, "all good, it was the quote not you personally" before apparently

: "best of luck, genuinely. You've got a great voice."

@zaynmalik all good, it was the quote not you personally mate

Summary: More "Bad Blood"? The Scottish DJ went on a Twitter rant after Malik Retweeted what appeared to be a dig at Harris' girlfriend


The price of crude oil is tumbling. It is down 13 percent for the month, 23 percent year to date and 56 percent in the last 12 months.

Goldman Sachs told clients in a note this week which companies will have the biggest boost to their bottom lines from sliding crude.

"Indeed the pullback in energy prices is likely to drive overall S&P 500 profit growth into negative territory for full-year 2015. With that said the news isn't all that bad particularly for those who take on oil and oil derivatives as input costs," wrote Goldman's Robert Boroujerdi.

"We think this tail wind still has some degree of discovery value with a number of companies citing the boost to margins from lower raw material. This tail wind is real and should provide a tail wind in future quarters," he added.

The analyst highlighted recent comments by the management of some of these companies on their quarterly conference calls that emphasized the benefits of lower commodity input costs.

"Operating expenses excluding net special charges for the second quarter of 2015 were $8.8 billion, down 9.8 percent, primarily due to a 37 percent decrease in consolidated fuel expense. We remain unhedged, and our financial results continue to see a material financial benefit from the significant year-over-year decline in crude oil prices."

"The lower fuel price environment played a significant role in our strong results, with our realized average fuel price of $2.13 down 31 percent versus the second quarter 2014."

"Lower spot prices today will turn up in our P&L (profit and loss) down the road, six months down the road."

Here are the six top Goldman "buy" rated stocks that benefit most from lower oil…

Summary: Goldman Sachs gave clients a number of stocks that should benefit if oil prices keep sliding.


Wes Anderson's colorful caper, "The Grand Budapest Hotel" proved popular among the 6,100 members of the Academy of Motion Picture Arts and Sciences who vote for the Oscars, winning four awards on its nine nominations.

"Whiplash," the independent film about an aspiring jazz drummer and his tough mentor from young director Damien Chazelle, won three Oscars.

The only box office blockbuster among the eight, the Iraq war drama "American Sniper" from director Clint Eastwood, also fell short with one win.

It was a night in which the controversy over the lack of diversity among this year's nominees was front and center. First-time host Neil Patrick Harris opened the telecast with a quip: "Tonight we honor Hollywood's best and whitest, sorry brightest."

But the race theme resonated in a more serious way too, when Common and John Legend got a standing ovation and made many in the audience cry with their performance of "Glory" from the 1960s civil rights drama "Selma."

It won best song, delivering the sole victory to "Selma," the film at the center of the diversity debate sparked by the exclusion of actors of color from the four acting categories. The nominations prompted a backlash on Twitter with the hashtag "#OscarsSoWhite.

"'Selma' is now, because the struggle for justice is right now," said Legend in the aftermath of recent racially charged protests in America.

All four acting award winners celebrated their first Oscars.

Redmayne, who won critical acclaim for his depiction of the various stages of disability endured by Hawking, who suffers from the motor neuron disease known as ALS.

"I am fully aware that I am a lucky, lucky man," Redmayne said. "This Oscar belongs to all of those people around the world battling ALS."

Five-time nominee Julianne Moore won best actress, also for her portrayal of an illness, as a middle-aged woman suffering Alzheimer's in "Still Alice."

"I read an article that said that winning an Oscar could lead to living five years longer," said the 54-year-old Moore. "If that's true, I'd really like to thank the Academy because my husband is younger than me."

Patricia Arquette won best supporting actress for her role as a struggling single mother in "Boyhood" and made an appeal for equal pay and rights for women in America in her acceptance speech.

J.K. Simmons, after decades as a character actor, won the best supporting actor as a monstrous music teacher in "Whiplash".

For the biggest televised event outside the sports world, the Academy aimed to attract young viewers who may not care much about the films but who could tune in for the musical acts.

A bridge between the young and old, pop diva Lady Gaga received a standing ovation for her medley of tunes from "The Sound of Music" before introducing that film's star, Julie Andrews.

Harris got laughs with his brave appearance in white underwear, a spoof of Keaton's opening scene in "Birdman." But some of his jokes fell flat and his debut got mixed reviews.

Ratings for the ABC telecast might also suffer because the show ran past midnight on the U.S. East Coast.

Poland's "Ida" clinched best foreign-language film, and director Pawel Pawlikowski pushed the 45-second acceptance speech boundary to thank "my Polish friends who are in front of the TV, the crew who were in the trenches with us and who are totally drunk now, and you were fantastic."

Best documentary went to "Citizenfour," director Laura Poitras' feature about National Security Agency whistleblower Edward Snowden, the former government contractor who detailed the secret mass surveillance programs.

"The subject of 'Citizenfour,' Edward Snowden, could not be here for some treason," joked Harris.

Summary: The dark comedy "Birdman" won the film industry's highest recognition on Sunday, the Academy Award for best picture.


On Tuesday, stocks closed more than 1.5 percent lower, with the Dow Jones industrial average sinking more than 300 points. Just a day earlier, the Dow closed up more than 135 points.

Read More Pressured by dollar, Dow dives 332 points

The market is facing several headwinds, including the stronger dollar, which will weigh on earnings, Mather said.

"We think the dollar will still continue to strengthen at a 5 to 10 percent annualized clip for some time," he noted.

In addition, he thinks labor market tightness will lead to higher wages, which will also drag on earnings.

Read MoreExpect 5-10% market correction: Expert

Meanwhile, Mather expects low yields to continue in Europe. In fact, he said he thinks it's very possible the 10-year German Bund could turn negative.

That's because while the goal of the European Central Bank's quantitative easing policy is to raise inflation expectations, it's a good distance off thanks to the slack in the labor market, he said.

"In the meantime, of course the ECB is buying more than the new supply of issuance in so many countries," Mather added. "That it is going to pull down yields substantially and we think there's more room to go lower from here."

He also thinks the foreign interest in U.S. fixed income will keep yields lower longer despite the fact that interest rates are going to be slowly creeping up beginning in the summer.

Summary: Pimco's Scott Mather sees more rocky times ahead for U.S. equities, and the possibility of the 10-year German Bund turning negative.


Commodities have been a crushing long trade, with the latest rout taking oil below $50 a barrel, gold on its longest losing streak in almost 20 years and the commodity currencies - the Canadian, Aussie and Kiwi dollars -- to six-year lows.

They are not the only victims: Copper, iron ore, mining stocks and soft commodities have also fallen victim to a rollover that some brokers have called a "second wave meltdown". The blame game is on with Chinese regulators searching for a bear raider manipulating gold markets, while others point the finger at the U.S. Federal Reserve for triggering a repeat of the taper tantrum as interest rates are poised to rise. Meanwhile emerging markets are regularly named as culprits, in particular China with its slowing growth.

The falls are so extreme that market watchers are forced to reach for long-term charts to provide context. The Australian dollar last traded below 74 US cents in 2009 and before that in 2006. Is this now a very low entry point or a value trap?

If the Aussie can ever reclaim 110 US cents notched up in 2011, then it would appear to be a tremendous buying opportunity, on the other hand if the low point of 60 US cents tested post crisis in 2008 is again possible or even worse the Aussie revisits levels below that witnessed in 2003, the currency could remain a soul-destroying trade. This is the conundrum facing those who might be tempted by a get rich quick trade on commodity plays.

The bears are piling in long and thick on commodities as supply continues to outstrip demand. Mining giants have fought aggressively for market share by keeping production high while extracting cost efficiencies. Few believe prices have floored, as the miners simply have not slashed capacity enough.

"We've been in a multi-year bear market with China's structural rebalancing still happening, we haven't seen a meaningful turnaround in commodity prices," said Michael Widmer of BofA Merrill Lynch Global Research.

"I'm not sure we are at the bottom," said Mark Cutifani, CEO of Anglo American about commodity prices.

Read More Will the Fed lift commodity currencies?

Rival commodity giant Lonmin provided shock value on Friday with its decision to cut production by 100,000 platinum ounces over the next two years. A decisive move that Widmer believes other miners will have to mimic to restore balance in commodity markets.

Widmer also predicts further interest rate cuts by the Chinese central bank the PBOC will have little impact on demand. Rate cuts elsewhere could also reward those short commodity currencies. Nomura sees the Reserve Bank of Australia (RBA) reducing interest rates from a record low of 2 percent to 1.75 percent, despite 10 interest rate cuts already since 2010 and Charles St-Arnaud from the bank's global foreign exchange strategy team predicts the Aussie will fall to 70 US cents by year end.

St-Arnaud is not alone on the short Aussie call. Caroline Simmons, UK Deputy Chief Investment Officer at UBS believes the Australian dollar can fall another 5 percent to the pound over the next year.

Are central bankers merely using the tried-and-tested method of verbal intervention, jawboning currencies lower with the prospect of lower interest rates without actually moving the lever again? And is it a bluff the markets should test? Both the Reserve Bank of New Zealand and RBA have significant credibility on rate maneuvers so investors are willing to take them at their word. In reality how much more of a dip can rates take without triggering a bubble in housing markets?

Read MoreCommodity currencies: Who's the ugliest of them all?

At current levels, lower currencies are already lifting inflation as imported goods become more expensive. In the case of Australia, core inflation is now in the RBA's target zone of 2 to 3 percent, which should remove the incentive to lower rates further. Jeremy Stretch, Head of FX Strategy at CIBC believes the market will shore up its views on another rate cut if Australian capital expenditure is weak next month.

"The AUD (Australian dollar) could easily fall below 70 US cents" said Stretch. He explained that the prospect of higher US interest rates also favours going short Aussie, but added an opportunity to buy could emerge later this year.

"Once you get through the first Fed rate hike, it might be the time to accumulate some cheap Aussie," said Stretch.

Others are not perturbed by the current volatility in commodities. Ian Plenderleith, former Bank of England rate-setter and current chairman at BH Macro, sees commodities as an important part of a diversification mix in an investment portfolio and has exposure.

But commodities remain a contrarian trade and worryingly for the risk takers there may be little short-term reward.

Karen Tso is an anchor for Squawk Box Europe on CNBC and you can follow her on Twitter @cnbckaren

Summary: The blame game is on for who is responsible for the roiling commodities markets and the effect they're having on currencies.


Zipcar is expanding its one-way trip program to Denver, Philadelphia, and Los Angeles following a successful trial of the service in Boston.

Zipcar, based in the Fort Point area of Boston and owned by Avis Budget Group, has long allowed its members to pick up cars at reserved spots in parking lots and garages, use them for short trips, and then return them to the same spots, renting them by the hour or by the day.

Last year, Zipcar started allowing Boston users to arrange one-way trips and drop off the vehicles at other reserved spots — picking up a car at the airport, for instance, and leaving it near a hotel downtown.

Zipcar One-Way started with 200 Honda Fit subcompacts, a number that grew to 250 in response to the popularity of the service, Zipcar said.

In Boston, One-Way costs $6 per half-hour, according to the company’s website.

The three new cities will be added to the program in the fall, Zipcar said.

The One-Way program is separate from the company’s bid to be part of a City of Boston program under which the city plans to sell 150 “free-floating” parking permits. They would allow cars from designated services like Zipcar to park in any legal space in the city at any time, including at meters and on streets that would otherwise require a residential parking permit.

The city has not issued such permits yet, said Lindsay Wester, a Zipcar spokeswoman.

Summary: The car-sharing service Zipcar said it is expanding its one-way trip program to Denver, Philadelphia, and Los Angeles after a successful trial in Boston.


In addition to Axovant's IPO on fire, the biotech group was flying high on Thursday. And, there was some very positive news released from Cramer-fave Isis Pharmaceuticals.

Now that the biotech group has bounced back, Cramer thinks the upside to Isis could be enormous. This company led the way for antisense technology that can change the RNA in cells in order to fix issues caused by genetic abnormalities.

With 38 drugs in development, Cramer considers it to have one of the best pipelines in the business. On Thursday investors heard terrific data on one of these drugs, which is a treatment for spinal muscular atrophy, the leading cause of infantile death worldwide.

To find out more, Cramer spoke with Isis Pharmaceuticals CEO Dr. Stanley Crooke.

"Many of these babies when they enter the trial can't even move a toe, or move a finger. So, when we are able to prolong these babies' lives, and certainly the data suggests that we may be doing that, and make the muscles stronger, they're able to do things that SMA babies haven't been able to do before," Dr. Crooke said.

Take one look at some of the huge moves in the biotech group lately, and many investors assume that it is pure insanity. Not Jim Cramer! In fact, these moves make complete sense to him.

"They're not crazy because, for whatever reason, the older line pharmaceutical companies seem congenitally incapable of developing huge new drugs, while these younger companies seem to do it as a matter of course," the "Mad Money" host said.

"Given the paucity of new drugs that the old pharma companies are inventing, I wonder how these two biotechs can even stay public long enough to develop what could very well be the next Pharmassets, Regenerons or Pharmacyclics," Cramer added.

Meaning, Cramer definitely does not consider these crazy gains to be insane. To him, they are the definition of sanity, which is exactly why he continues to feature the biotechs and recommend them.

Ultimately, Cramer thinks these little biotech companies are the answer to the stale old pharmaceutical companies that have a good balance sheet, but no growth. Perhaps they should be your answer, too.

Read MoreCramer: Massive biotech moves that make sense

In the Lightning Round, Cramer gave his take on a few caller favorite stocks:

Medtronic PLC: "Medtronic is terrific. I love the inversion, I love their acquisitions. I think MDT should be bought, that's the right call."

DCP Midstream: "I'm worried about that yield. That yield tells me that something may not be that great about that here. I do own a high yielder for my charitable trust, and that is Energy Transfer Partners. I have a very good feel for that one. That's the one I think you should be in."

Read MoreLightning Round: This stock's yield worries me

Summary: Twitter overhaul? “Mad Money” host Jim Cramer shares how the CEO change at Twitter will affect your stock.


SOUTHFIELD, Mich., Aug. 27, 2015 /PRNewswire/ -- Preliminary results of SMaASH™ 2.0, the second annual study of how the top 25 North American automotive suppliers use social media, will be unveiled by Jim Bianchi, APR, president of Bianchi Public Relations, Inc., at today's meeting of the Communications Executives Council (CEC) of the Original Equipment Suppliers Association (OESA) at the OESA/MERA Conference Center.

The SMaASH™ – Social Media and Automotive Supplier Habits™ – study was launched by Bianchi PR last autumn. The inaugural 2014 study analyzed social media usage by the top 25 North American automotive OEM suppliers, as ranked by Automotive News, during the first six months of 2014. The study identified five critical mistakes and opportunities auto suppliers were making with their social media posts (http://www.bianchipr.com/top-5-auto-supplier-social-media-mistakes/).

Completed earlier this month, the SMaASH™ 2.0 study analyzed social media posts from the top 25 companies over the same period of 2015 and indicates where and how social media usage by auto suppliers has changed in the past year.

"Although auto suppliers – like many other business-to-business companies – have adopted social media, many of them feel they are lagging behind consumer companies in terms of strategy, content and engagement. But it seemed no one offered hard, industry-specific data to help them," said Bianchi.

"So, last year, to fill this need and provide them with some benchmarks and actionable insights, we developed the SMaASH study," he said. "This year's study builds upon the 2014 results, showing what progress has been made, what trends are emerging and what opportunities for improvement in engagement and effectiveness still exist."

Bianchi said that in some respects – such as a dramatic increase in the use of visual images in posts – auto suppliers have made remarkable progress, yet in other areas, such as the social sharing of credible, third-party media coverage, some opportunities for improvement remain.

Bianchi PR plans to formally release final SMaASH 2.0 results next month. For more info, visit http://www.bianchipr.com/article/study-reveals-five-ways-north-american-automotive-suppliers-can-improve-social-media-engagement-2015/.

With special expertise in PR for automotive suppliers, professional service firms and other business-to-business enterprises, Bianchi PR was founded in 1992 and is ranked in the top three independent PR agencies based in Michigan, according to PRWeek's 2015 ranking of public relations firms.

Among Bianchi PR's ongoing automotive, industrial and business-to-business PR clients are BASF, Cooper Standard, Eisele Connectors, Freudenberg-NOK Sealing Technologies, FRIMO North America, Johnson Controls, Schaeffler Group, TRW Automotive and 3M. The firm's experience also includes work with organizations such as the SAE International, Automotive Industry Action Group, the Center for Automotive Research, the Motor Vehicle Lighting Council and the Steel Market Development Institute. For more information, visit http://www.bianchipr.com or call 248-269-1122.

Bianchi PR is a member of the Public Relations Global Network – "The World's Local Agency" – one of the world's largest international public relations networks. PRGN harnesses the resources of 50 independent public relations firms and nearly 1,000 communications professionals to connect international companies and organizations with individual and culturally diverse markets globally. Visit PRGN online at www.prgn.com or on Twitter at @PRGN.

Formed in August 1998, OESA provides a forum for automotive suppliers by addressing issues of common concern through peer group councils, serving as a reliable source of information and analysis, providing an industry voice on issues of interest and serving as a positive change agent to the automotive industry. With 450 member companies, OESA represents more than 70 percent of North American automotive supplier sales. OESA is the original equipment division of the Motor & Equipment Manufacturers Association (MEMA). For more information, visit http://www.oesa.org.

With some 30 members from many of the world's leading automotive suppliers, the OESA Communication Executives Council provides a forum for senior automotive supplier communication executives from OESA member companies to identify and address strategic issues, share best practices, recommend solutions and promote the welfare of the supplier industry by supporting the effective implementation of communication practices. For more information, contact Jeff Laskowski at 248.430.5951 or jlaskowski@oesa.org.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sneak-peek-of-auto-supplier-social-media-study-offered-at-oesa-communications-executives-council-meeting-300134001.html

SOURCE Bianchi Public Relations, Inc.

Summary: SOUTHFIELD, Mich., Aug. 27, 2015/ PRNewswire/-- Preliminary results of SMaASH™ 2.0, the second annual study of how the top 25 North American automotive suppliers use social media, will be unveiled by Jim Bianchi, APR, president of Bianchi Public Relations, Inc., at today's meeting of the Communications Executives Council of the Original Equipment Suppliers...


FAIRFAX, Va., Aug. 10, 2015 (GLOBE NEWSWIRE) -- Crestline Hotels & Resorts, LLC (Crestline) announced today that it has been named the management company for Hyatt Place Washington DC/Georgetown/West End which will be located at 2121 M Street, NW. The 168-guestroom hotel is scheduled to open in spring 2016. It is being developed by Washington DC-based Renaissance Centro, which enjoys a 30-year legacy of nationally recognized projects throughout the DC metro area.

"This stylish new upscale select service hotel will be an excellent addition to the West End community of Washington DC," said James Carroll, Crestline's President & CEO. "Embodying the brand spirit of Hyatt Place, this new hotel will provide travelers with a comfortable and service-focused experience, in a location just a short walk from the many businesses and attractions in the West End and Georgetown," added Carroll.

About Hyatt Place Washington DC/Georgetown/West End

Located in Washington's beautiful West End neighborhood, and adjacent to historic Georgetown, Hyatt Place Washington DC/Georgetown/West End will offer visitors 168 spacious guest rooms in a striking nine story building with a rooftop terrace. Perfect for business and leisure travelers, and convenient to Embassy Row, this hotel is steps from Georgetown's shopping, dining and nightlife, while easily accessible to the heart of the nation's capital via the Washington DC Metro subway system.

The hotel will bring the Hyatt Place brand's intuitive design, casual atmosphere, and practical amenities, such as free Wi-Fi and 24-hour food offerings to Washington DC's West End area. Each of the oversized guest rooms will feature the perfect blend of home and office, so that you can relax while staying productive during your visit. Connect all your electronic devices to the Hyatt Plug Panel™, rejuvenate with KenetMD™ bath essentials and sleep soundly on your Hyatt Grand Bed®. Free hotel-wide Wi-Fi, free a.m. Kitchen Skillet™ hot breakfast, 24-hour StayFit Gym and an indoor pool will make guests' stays as seamless as possible while on the road. Gallery Hosts will be available 24-hours a day to take care of guests, fulfill a 24/7 Gallery Menu order, help plan a meeting, make coffee or do anything else guests may need. In addition, Hyatt Place Washington DC/Georgetown/West End will feature two board rooms and three meeting rooms, offering 2,200 square feet of event space—perfect for small meetings and gatherings. Onsite parking will be available.

Established in 1751, Georgetown is Washington DC's most historic neighborhood. Lined with cobblestone streets and 18th & 19th century architecture, the town remains a treasured neighborhood, blending old and new. Over the course of its history, Georgetown has served as home to a long list of famous residents including Thomas Jefferson, Francis Scott Key, and John F. Kennedy. Today it is a hub for gourmet dining, eclectic shops and its arts community. Guests of Hyatt Place Washington DC/Georgetown/West End will be a short walk from two Metro stations with easy access to Capitol Hill and all business districts as well as the City's renowned tourism areas. The hotel is only five miles—a 20 minute ride—from Ronald Reagan Washington National Airport. For more information visit www.hyattplacewashingtondcgeorgetown.com or call our pre-opening sales office at 202-838-2222.

Hyatt Place, a brand of Hyatt Hotels Corporation, offers more than 230 locations in the United States, Armenia, Chile, China, Costa Rica, India, Mexico, Morocco, Panama, Puerto Rico, The Netherlands, and United Arab Emirates. For Hyatt Place information or to make a reservation, call 1-888-HYATT-HP (888-492-8847) or visit www.HyattPlace.com.

Join the conversation on Facebook and Instagram, and tag photos with #HyattPlace and #TheresAPlaceForYou.

Renaissance Centro is a dynamic real estate development firm specializing in creating projects that are relevant for today and tomorrow. The company focuses on urban centers as well as suburban locales close to transit and other lifestyle amenities so that people can live, work and play with ease and convenience. For more information visit: www.RenCentro.com.

About Crestline Hotels & Resorts, LLC

Crestline Hotels & Resorts, LLC is one of the nation's largest independent hospitality management companies. Founded in 2000, the company presently manages 75 hotels, resorts and conference and convention centers with more than 12,200 rooms in 21 states and the District of Columbia. Crestline manages properties under such well-regarded brands as Marriott, Hilton, InterContinental, Hyatt and Starwood, as well as independent, private label hotels and conference centers throughout the United States. For more information visit: www.crestlinehotels.com.

The statements in this press release that are not historical facts may be forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as "anticipate", "believe", and "intend" indicate a forward-looking statement, although not all forward-looking statements include these words.

CONTACT: Gayle MacIntyre Global Ink Communications 404-643-8222 gaylemacintyre@bellsouth.net

Summary: FAIRFAX, Va., Aug. 10, 2015-- Crestline Hotels& Resorts, LLC announced today that it has been named the management company for Hyatt Place Washington DC/ Georgetown/ West End which will be located at 2121 M Street, NW.  "Embodying the brand spirit of Hyatt Place, this new hotel will provide travelers with a comfortable and service-focused experience, in a location just a...


Things will probably get worse because the highly unpopular French government is squeezed by political forces from left and right urging more assertive economic and foreign policies. They see Germany as a hegemon dictating the proceedings to the rest of Europe. The French left is in disarray, but the rightwing parties are regrouping around a distinctly nationalistic agenda largely set by the strengthening far-right Front National (FN) -- which is bristling at German hectoring.

German relations with Italy are also characterized by frictions about structural reforms and fiscal consolidation. Struggling with a recessionary economy, a record-high unemployment rate of 13.2 percent (with youth unemployment at 44 percent), and a first-ever general strike last Friday by two of the country's largest trade unions against a center-left government, Italy's labor market reforms and fiscal policies are hostages to the notoriously slow and complicated political process.

Some progress on both issues is being made, though. And, without naming names, Italy's finance minister is complaining that these efforts are not being acknowledged (presumably by Germany). But there is much less discretion about that on the part of Italy's political leaders the government has to depend on to implement these reforms. A number of them are regularly venting strident anti-German statements and demagogic calls for Italy to leave the euro area.

Spain's fast-growing radical left movement Podemos (We can) is also drawing strength from hostility to devastating socio-economic effects of austerity policies advocated by Germany. Currently polling at close to 30 percent, Podemos is becoming a serious contender in next year's general elections. This unprecedented political formation is feeding on a 24 percent unemployment rate, more than half of unemployed youth and nearly one-third of the working poor – "mileuristas" earning about €1,000.00 per month.

Read MoreEurope economy 'not improving fast enough': EU

Greece's apparently more virulent radical left party – Syriza – has a popular support of 25.5 percent, slightly ahead of the governing center-right New Democracy Party's 22.7 percent. The poll, conducted by Kapa Research and published today (Sunday, December 14) by To Vima newspaper, also shows that the Greek Socialist Party (PASOK), the country's third-largest, polled at 6.7 percent.

If, as seems likely, the next Greek president cannot be elected by the parliament in the three rounds of ballots, starting next Wednesday (December 17) and ending on December 29, the Prime Minister Samaras seems inclined to call an election rather than align himself with Syriza.

But regardless of how this situation plays out, Syriza has enough political clout to complicate Greece's painful economic adjustment by continuing to rail against austerity policies.

And what is Germany saying to all this?

Summary: European markets may be signaling that recessionary and stagnant economies have set the stage for unsettling political developments throughout the monetary union.


Apple declined to comment on the use of its watch by advertisers, and will not attend CES officially. But many companies that make devices and services based around Apple products will be there, including several that are working with WatchKit, a software-development tool Apple released in November that allows developers to build watch-tailored applications.

Using that tool, developers are devising Apple Watch ad formats including interactive wallpapers on the watch dial with brand logos and personalized clock faces, said TapSense's chief executive Ash Kumar. His product helps developers insert ads, bought and sold instantaneously, in those apps.

The watch's main screen allows the display of several tiny icons, including for email, weather, time, and potentially a few favorite service and retail apps.

Read MoreIs this Apple's nextbig device?

Businesses could use those apps to notify customers of special deals, but only within already-opened apps, Kumar said. Otherwise, the vendor risks annoying consumers by introducing an ad that is out of sync with whatever they are doing.

If a consumer is using a transit app on the watch to monitor delays, for example, an advertiser could insert a marketing offer that would light up on the watch face for a ride-sharing service or a deal at a coffee shop nearby, Kumar said.

But moderation is key. Push notifications and banner ads on smartphones can be turn-offs. Some marketers advise avoiding showing ads to users who typically click out of them or delivering the same ad too many times to any one user.

"If it feels like your smartwatch is turning into a spam box, you will take it off," said Padden Guy Murphy, who heads business development and public policy at car-sharing service Getaround.

Read MoreApple takes a $1 trillion time warp

The startup is exploring using Apple Watch's location-based features to target new customers. Apple has not added global positioning on the Apple Watch, but apps can track location as the device is tethered to a smartphone.

Summary: Apple’s smartwatch poses a conundrum for advertisers: How to tap the possibilities of the tiny gadget without overwhelming consumers with messages.


The Fed could raise rates by a quarter of a point on Thursday, but likely would not move again for the rest of the year, said Uri Landesman, president of Platinum Partners. Regardless, he expects "very tame language" that may not move markets significantly.

"I think it's a reasonable time to get in because there's so much bad news out there," Landesman said on "Power Lunch."

The Fed's waiting past Thursday would have a short-term positive effect, but likely would drag on markets moving forward, added Kristina Hooper, U.S. investment strategist at Allianz Global Investors.

"Don't be surprised to see the Fed move tomorrow," she said on "Power Lunch," adding that the central bank could hike rates by less than a quarter of a percent.

If rates rise, she would look to the technology sector, as it has historically shown strength in hike cycles.

Summary: If global concerns make the Federal Reserve wait to raise rates, it risks contributing to long-term turmoil, one economist said.


That performance shows just how far Netflix has to go, despite its high-flying share price. Though the on-demand streaming service eclipsed HBO with 33 million domestic subscribers at the end of last year, it had just $228 million in operating income on revenue of $4.4 billion. Meanwhile, free cash flow was negative $16 million.

(Read more: HBO, movies boost Time Warner revenue)

What separates HBO from its younger rival is pricing power. Even without relying heavily on subscriber growth in the U.S., the network's subscription revenue rose 6 percent in 2013 and 8 percent in the fourth quarter. Time Warner said it expects continued fee increases in the mid-single digits, independent of any subscriber increases.

Netflix has stuck largely to a pricing model of a $7.99 flat rate per month, with an $11.99 option for a relatively small number of customers who want to stream on four screens at once. That has probably been a prudent move, given the backlash when it raised prices in 2011.

(Read more: Michael Kors rally won't set a retail trend)

The most likely way for Netflix to raise prices is to offer more of its own original programming. The audience and critical hits "House of Cards" and "Orange Is the New Black" are a step in that direction.

A couple of years ago, Netflix was losing about half of its domestic subscribers every year, but that churn has probably slowed to about 35 percent to 40 percent, estimated Tony Wible of Janney Montgomery Scott.

Summary: For the first time, Time Warner has disclosed HBO's financial performance—showing how much further Netflix has to go.


By Michele Corriston and Katie Kauss

12/03/2015 AT 01:55 PM EST

Days after her first public appearance since seeking treatment for postpartum depression,

costars' minds – and in their hearts.

, who plays country queen (and Panettiere's character Juliette's onetime mentor) Rayna, and

, who appears as her estranged husband Avery, both spoke about the actress's progress at Wednesday night's CMT Artists of the Year awards.

"We have connected, and I think she's doing really well," said Britton, 48, told the Associated Press. "She's right where she needs to be, and that's really good, and we all support her in that."

"We've been in communication, and she seems to be doing well, and we're really excited to get back to work when the time comes," Jackson, 33, told PEOPLE on the red carpet. "My wife and I were really grateful that she took the time that she needed. I think that's a really great example for people."

Saturday as she cheered on her fiancé Wladimir Klitschko during a boxing championship in Germany. (Klitschko, 39, lost the match.)

, daughter Kaya Evdokia, on Dec. 9, 2014, and Panettiere opened up about her private battle with PPD in September,

Hayden Panettiere, Wladimir Klitschko and baby Kaya

Michael Sterling Eaton / Neo NostalgiaÂ

"There's a lot of misunderstanding," the mom, whose character also has PPD,

. "There's a lot of people out there that think that it's not real, that it's not true, that it's something that's made up in their minds, that 'Oh, it's hormones.' They brush it off. It's something that's completely uncontrollable. It's really painful and it's really scary and women need a lot of support."

A source close to the show

that Juliette's heartbreaking storyline was planned long before Panettiere shared her own struggle – and production has worked around her treatment schedule for season 4.

airs Wednesday at 10 p.m. ET on ABC.

Summary: Connie Britton and Jonathan Jackson attended the CMT Artists of the Year show


Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday, "The yield on the (U.S.) 10-year (note) is going up without spooking the market."

He doesn't think the higher yield is due to the morning's unexpectedly large drop in first-time claims for unemployment insurance, as some on Wall Street are saying.

Cashin said comments from European Central Bank chief Mario Draghi could be the real cause. While Draghi said the ECB wasn't raising rates and expects to keep rates low for an "extended period," the market interpreted that as also meaning there won't be further easing. That "tended to stimulate the yields on the German bonds going higher and I think ours are just going along."

While the Ukraine situation remains difficult, Cashin predicted that "as long as nothing heats up, as long as no bullets are fired or troops moved, we should be OK" in the stock market.

Summary: Art Cashin of UBS Financial Services discusses why higher yields didn't derail a strong gain for stocks.


12/10/2015 AT 01:55 PM EST

looks stylishly sultry in a newly released video from her cover shoot for

The actress even suffered a momentary wardrobe malfunction in the black-and-white clip by Ellen von Unwerth, which was filmed in Mykonos, Greece.

Amid posing in a series of bikinis and polka-dot ensembles, a gust of wind temporarily lifted the star's dress to reveal her bare top (which is pixelated in the video). Lohan didn't let the snafu slow her down, however – she seemed happy throughout the rest of the clip.

In the opening moments, the 29-year-old chugged from an oversized bottle of champagne while covered with only bed sheets (a similar moment made it to the magazine's cover). Later, she cradled a watermelon while lounging on a white stone wall on the Grecian island.

The whole affair had a retro vibe, down to the clip's soundtrack, which was a jazzy version of

"I love working with you," Lohan wrote on Instagram, sharing a photo from the magazine spread. "@ellenvonunwerth you bring out the best of old Hollywood and sex appeal with class in women. Thank you & I can't wait for our next adventure!!"

Earlier this week, the actress surprised an

Wearing a blue sequin ensemble, the

star performed the band's track "Dancephobia" – of which she has a spoken word part – during their concert at London's 02 arena.

Summary: Lindsay Lohan cavorts around Greece in a series of bikinis in a behind-the-scenes video from her latest cover shoot


Some experts have believed that the first signs of California’s drought easing could emerge thousands of miles away in the Pacific Ocean near the equator.

That’s where the famously fickle weather condition known as El Niño forms. Predicting one can be difficult. But when the effects of a very strong El Niño arrive in California, heavy — sometimes epic — rains often follow.

Over the last year, scientists have been disappointed as signs of El Niño fizzled. But this week, they are seeing clear signals that the “great wet hope” is showing signs of life, the Los Angeles Times reports.

If the pattern forming in the Pacific does strengthen and persist, it could bring storms next winter that “would certainly provide what we would call genuine relief,” said climatologist Bill Patzert, , of the Jet Propulsion Laboratory in La Cañada Flintridge. “It could be ... potentially the beginning of the end of the drought.”

But it remains a big “if.”

Patzert said the increasingly warm temperatures in the Pacific Ocean along the equator this year were a reminder of conditions back in the spring of 1997, the prelude to a record El Niño year that brought heavy rains to California.

To California weather watchers, the winter of 1997-98 is significant because it brought widespread flooding and mudslides, causing more than half a billion dollars in damage and causing 17 deaths. Downtown L.A. got nearly a year’s worth of rain in the month of February.

“This looks like the real deal, and something that might replicate the famous 1997-98 El Niño. This is as close as we’ve come,” said Patzert.

He and others are quick to warn that this El Niño could fade before the winter rainy season begins, which would do California little good.

“Should it become a strong event, that tilts the odds more in favor. But until it’s actually raining or snowing, nothing is actually guaranteed,” said Mike Halpert, deputy director of the National Oceanic and Atmospheric Administration’s Climate Prediction Center in Maryland. “It’s not quite time to buy the ark yet.”

On Thursday, El Niño was declared to be “weak-to-moderate” this month, stronger than its “weak” status in April, according to the Climate Prediction Center. The current El Niño was first identified in March.

The center said there was now an 80% or greater chance that El Niño conditions would persist through the latter part of the year — up from more than 60% in April’s forecast.

A strong El Niño that lasts deep into the winter and into next spring would be favorable in bringing much-needed rain to California. Very strong El Niños are very likely to bring substantial rainfall, much needed in a region besieged by years of drought.

There are a number of reasons to be optimistic for a strong El Niño this year, although last year the weather phenomenon failed to show up despite promising signs.

An ocean area roughly twice the size of the United States is warmer than normal in the Pacific along the equator, a situation similar to what occurred in 1997, Patzert said. Warm water is pushing eastward toward the Americas, because trade winds that normally push warm waters from the Americas to Asia have weakened.

“When you see that large of a redistribution of heat … it influences the Northern Hemisphere jet stream patterns,” Patzert said. “So that could — but not necessarily will — change the pattern that we’ve been stuck in, which is heat and drought in the West and punishing winters in the Midwest and Northeast.”

“Another way to say that: epic mudslides in California, with some drought relief thrown in, and golfing in Minnesota in February,” Patzert said.

Daniel Swain, climate scientist at Stanford University and author of the California Weather Blog, said scientists were observing changes in the atmosphere needed for El Niño to develop. Many scientific models of this El Niño are “suggesting, in fact, the potential for a really significant event.”

El Niños are notoriously hard to predict. They can last nine to 12 months, and in some cases go for as long as 18 months. But they can also fizzle out with disappointing speed.

Traditionally, the models scientists use in the spring to foresee what will happen next winter are not that accurate. And Halpert said there’s concern that this El Niño will peak too early, although there are other observations that also show how it might not.

For all the uncertainty, more time will help.

“Hopefully in June, at the latest in July, we’ll have a better sense as to whether this is going to be at least a strong event,” Halpert said. “Then we’ll have to start trying to figure out predicting what type of winter you’ll have with the rain.”

But it would be a mistake to think of El Niño as a sudden fix to California’s drought problems.

It would take many years of rain to make up for existing deficits, and a single El Niño would not erase the problem of unsustainable demands on our water supply.

For all the hope for rain, the return of a very strong El Niño might soon be seen with regret if it brings severe damage to California, as in years past.

“Everyone is thinking of this in terms of drought relief. What they’re forgetting is if this thing really materialized, once this thing starts, the drought story will be secondary to the destruction story,” Patzert said.

Rong-Gong Lin II, Los Angeles Times

Summary: Some experts have believed that the first signs of California&rsquo;s drought easing could emerge thousands of miles away in the Pacific Ocean near the equator.


Dance always seems to be in a state of transition. Dancers come and go, artistic directors move on, companies rise and fall, performance spaces appear and disappear. Still, 2015 was a particularly tumultuous year in Boston.

And nowhere more so than at Boston Ballet. In March, at age 42, principal dancer Yury Yanowsky gave his final performance for the company, in Val Caniparoli’s “Lady of the Camellias,” as Armand opposite the Marguerite of Kathleen Breen Combes, who is his wife. Yanowsky had joined the company in 1993 and had been a principal since 1999. He and Breen Combes weren’t paired often, but they were mesmerizing in “Lady of the Camellias.” Now Yanowsky is looking ahead to a career as a full-time choreographer; already he’s won the Erik Bruhn Choreographic Prize, and Boston Ballet has commissioned a piece from him for its “Mirrors” program next May. He hasn’t totally given up dancing, either; earlier this month, he was the Cavalier in Leggz Ltd. Dance’s “Nutcracker” on Long Island.

Two more company principals, Jeffrey Cirio and Whitney Jensen, departed at the end of the 2014-15 season. Cirio, following in the footsteps of former Boston Ballet principal James Whiteside, moved to New York’s American Ballet Theatre, where he is a soloist. He gave his farewell performance in May in Balanchine’s “Theme and Variations,” on a program that also featured a work he choreographed, “fremd,” commissioned by the company. This summer he danced at Jacob’s Pillow with Daniel Ulbricht’s “Stars of American Ballet”; he also developed his own troupe, the Cirio Collective, for a performance on Martha’s Vineyard. And he’s returning to dance in some final performances of Boston Ballet’s “Nutcracker.” Jensen, who left to guest and freelance elsewhere, was part of that Cirio Collective performance, and she did Marzipan in the Leggz Ltd. “Nutcracker.”

In September, Boston Ballet also announced that its music director, Jonathan McPhee, will become the company’s music director emeritus at the end of the 2015-16 season. McPhee has been with Boston Ballet since 1988. McPhee, who has worked with Martha Graham, Leonard Bernstein, and George Balanchine, has been one of the finest conductors in Boston over the past 27 years, and the high musical standard he set elevated the company’s dancing. As to why he is leaving, artistic director Mikko Nissinen had no comment. But Boston Ballet could have a very difficult time replacing him.

Meanwhile in the Berkshires, Jacob’s Pillow announced that executive and artistic director Ella Baff was leaving to become senior program officer for arts and cultural heritage at the Andrew W. Mellon Foundation. Baff had been at the Pillow for 17 years. Under her leadership, Jacob’s Pillow was named a National Historic Landmark by the federal government, and in 2011 it received a National Medal of Arts from President Obama. The Pillow’s board of directors is planning to announce a new director early next year.

Boston Globe critics look back on the year.

And another familiar face is moving on: Boston native Kirven Douthit-Boyd, who got his start with the Boston Arts Academy before moving on to Boston Youth Moves and the Boston Conservatory. For the past 11 years, Douthit-Boyd has danced with Alvin Ailey American Dance Theater, making regular visits to Boston, but now he and his husband, fellow Ailey dancer Antonio Douthit-Boyd, are retiring to become co-artistic directors of dance at the Center of Creative Arts in Antonio’s home town of St. Louis.

But 2015 wasn’t all departures in dance. José Mateo’s “Nutcracker” had been an annual event at the Cutler Majestic Theatre in the 1990s, before Mateo moved the production to the 250-seat Sanctuary Theatre in his company’s Cambridge home base. This year, Mateo reached an agreement with Emerson College, which owns the 1,200-seat Majestic, to bring his “Nutcracker” back for the next five years. He’s also expanded the production’s run at the Strand Theatre in Dorchester. It was good to see this “Nutcracker” back on the big stage.

And the Dance Complex just unveiled its renovated Studio 7 in Cambridge’s Central Square. The street-level space, which the Complex had formerly rented out, will be used for dance classes, workshops, performances, and outside events, and the big picture window — executive director Peter DiMuro says it’s about 17 feet wide and 13 feet high — will allow passers-by on Massachusetts Avenue to have a look at what’s going on. Inside there’s 1,800 square feet of supported floor — space that will get its first real workout during the Dance Complex’s Winter Wonder Dance Festival, which runs Dec. 28-31.

Summary: On the dance scene, 2015 was a particularly tumultuous year in the Boston area.


After years of planning and discussion, the massive Assembly Row complex in Somerville has entered a new phase as developers started construction Wednesday on the first two buildings of the $1.5 billion project.

The apartment buildings by AvalonBay Communities Inc. will have 448 rental units, and at 470,000 square feet is one of the largest residential real estate projects under construction in the Boston area, according to the developers. One of the two buildings will be an “AVA’’ residence - AvalonBay’s newest apartment brand that was introduced nationally last year.

Bill McLaughlin, executive vice president of development and construction at AvalonBay, said each apartment building will be targeted to a slightly different demographic. The Avalon at Assembly Row, with 195 units, will be a more traditional apartment complex. The second, AVA Somerville, will have 253 apartments in a more contemporary design, and feature smaller units aimed at younger residents. Many of the AVA units will be engineered for roommate living.

“Each building will have its own distinctive flavor,’’ McLaughlin said.

The project is expected to create a mixed-use neighborhood of offices, stores, restaurants, homes, and a new MBTA station.

The project will create a mixed-use neighborhood of offices, stores, restaurants, homes, a hotel, and new MBTA station. Its developer, Federal Realty Investment Trust, recently said it plans to include dozens of outlet stores among the retail offerings at the 45-acre complex.

Federal Realty is also refurbishing the park at the rear of the property along the Mystic River.

Conceived in the late 1990s, Assembly Row has suffered through several delays, at first due to community opposition to an earlier version and then because the economic downturn dried up funding for large-scale commercial developments.

But last fall the project received $104 million in US and state funds, coordinated by the Patrick administration for an access road and other site preparation work and money for the MBTA station. Somerville also provided $25 million in bonds to pay for road and utility upgrades.

Federal Realty also redeveloped the adjacent Assembly Square Marketplace, which includes a Bed Bath & Beyond, Sports Authority, Christmas Tree Shops, and other big-box retailers. The two projects combined will sprawl over 69 acres.

The construction of Avalon at Assembly Row and AVA Somerville is expected to be completed in July 2014, with occupancy to begin in the summer of 2013.

2,050 housing units, 200-room hotel

1.75 million square feet of office space

830,000 square feet of retail space, including Ikea and a 12-screen movie theatre

Summary: After years of planning and discussion, the massive Assembly Row complex in Somerville has entered a new phase as developers announced Wednesday that they have begun construction on the first two residential buildings for the $1.5 billion project.


FORTUNE — As more people have fled to the startup community for the promise of wealth and freedom, a new tier of gatekeepers have emerged. They’re called “incubators,” and their imprimatur is tantamount to a college degree. It’s like getting a degree from Harvard or MIT, explains David Cohen, the co-founder of TechStars, one of the more successful incubators in the country.

By ceding 6% of their company, startups get an investor, credibility in the startup community, and communion with other founders who are going through the same masochistic slog as they are. The incubators, meanwhile, get a set number of entrepreneurs to mentor and perhaps turn into successful businesses. After a few months of grooming, mentor and founder can then summon hundreds of people to watch their company’s official introduction to society.

Techno-types have a name for this strange ritual: Demo Day. It’s a highly structured and ritualized tradition with a set form, language, and hierarchy. The routine is universal: After months of isolation, sleepless nights, and marathon coding sessions, the time finally arrives for the young startups to reemerge and show how they’ve matured.

Each startup sends one founder to the stage to wild screams from his or her (and there are some hers!) fellow recruits. The audience applauds politely. And then, usually with a rushed voice, the performance begins. The founders have a set period of time, eight minutes in TechStars’ case, during which they will argue that they deserve a promotion to a higher status, that they deserve to be a startup that has raised a round of venture capital.

On Thursday the organizers at TechStarsNY allowed me to infiltrate a Demo Day and observe this ritual in the wild, along with 750 venture capitalists, entrepreneurs, and members of the media. What I found was a community that is committed to a very defined script. Individuality, it seems, can only be expressed within agreed-upon parameters. My field notes indicate those parameters are as follows:

THE DECK: All presentations happen in front of a screen of slides and, in some cases, short videos. How a collection of slides came to be known as a “deck” is a story lost to history. Note, however, that playing cards come in a deck, too. It would not be unreasonable to note the latent parallels to gambling.

THE TECHSPEAK: Throughout, the community’s idiomatic language is on display. ToVieFor, an auction site for luxury fashion, has already “achieved significant industry buy-in.” “People are the best platform in the world,” says Friendslist, a startup that has built what Craigslist would be like if it were created in the Facebook era. And Nestio plans to “dramatically disrupt the real estate industry.” As though the housing bubble wasn’t enough.

THE TAGLINE: Apparently concerned that the elders in the audience won’t be able to remember more than a few words about each company, the startups come prepared with catchy slogans. Red Rover is a “Peer-to-peer learning platform” Having Migration Box means “You don’t have to leave your data behind.” OnSwipe, a design template and ad network for tablets, had more of a cri de coeur than a tagline: “Apps are bullshit.”

THE PROBLEM: Nearly all of the presentations begin with an argument that something needs to be fixed. Crowdtwist is concerned that brands can’t keep track of who’s engaging with the brands and on what “platforms.” Immersive Labs is distraught that digital billboards aren’t nearly good enough at adjusting their ads to the audience that’s looking at them. ThinkNearis frustrated on behalf of the retailers who can’t use group coupons to their full effect. Many of these laments are simply market inefficiencies that are perceived as problems. Whatever we refer to them as, they almost always try to solve definitively first-world issues

THE SOLUTION: The startup is the solution.

THE DEMO: The presenters do not expect you to simply accept that they are The Solution. They intend to prove it to you. They will do this not through an actual live demonstration — this is reserved only for entrepreneurs who are known and beloved by all of society, like Steve Jobs. Instead they will show you recordings of the product in action as part of The Deck. It’s a cunning strategy — it forces those in the audience to engage with the product on their own later on, and eliminates the chances of “oops, that wasn’t supposed to happen” glitches overshadowing their vision.

THE BUSINESS: For everyone in the room, currency is the currency. So as a gesture of respect to their audience, the presenters attempt to answer the question that they’ll all ultimately be judged by: how they plan to make money. Shelby.tv, which pulls all the videos your social network is sharing into one place, plans to let brands curate their own channels. Red Rover, for example, has already made $1.6 million, proof that its model — charging companies to integrate their in-house social knowledge network — works.

THE ASK: And now comes the supplication. The presenters, with equal parts humility and thrill, reveal how much money they’re seeking to raise. Nearly all of them have already raised part of it, the way baristas seed the tip jar to guilt others into ponying up. When investors hear the number — hundreds of thousands of dollars for some, over a million for others — their default reaction is to not react.

THE REMINDER: And now we’re back to where we began, with a slide that has the logo, The Tagline — in case the audience has forgotten the snippet that was created for them not to forget — and the founder’s email address.

With all of this completed, huzzahs from the balcony and reserved applause from the floor return to the auditorium. Now that the eleven startups have presented, they’ll soon have to find their own office space, kicked out of the liminal one inside TechStarsNY’s headquarters to make room for a new crop. But that’s later. For now, some founders are learning they are among the funded, while others are regrouping for a longer season of pitching. But all are off stage and downstairs, mingling with the investors who either spurned or favored them. There they are engaged in an entirely different ritual. They call it “biz dev.” But an anthropologist might recognize it as mating.

–This is Fortune’s column on startups and the tech bubble that may or may not exist. All anthropological critiques should be sent directly to my email. If you’d rather be passive-aggressive about it, there’s also a Twitter feed.

Summary: An anthropological technography of the strange, ritualized world where startups sell themselves to venture capitalists: Demo Day.


Puerto Rico's 2016 Miss Universe contestant has been stripped of her crown with officials claiming the model had “attitude problems.”

Kristhielee Caride, who won the title of Miss Puerto Rico Universe 2016 four months ago, was to represent the Caribbean island at Miss Universe 2016.

Kristhielee Caride who won the title of Miss Puerto Rico Universe 2016 four months ago

Yesterday officials informed the 24-year old beauty pageant titleholder of their decision to remove her as Puerto Rico's representative after a comments made during an interview with a local newspaper.

Ms Caride was criticised for being dismissive and telling the paper she did not love cameras.

Desiree Lowry, national director of Miss Universe Puerto Rico, was present during that interview.

"I wanted the earth to swallow me," Lowry said.

"You always have to put your best face forward ... it's a given that we are going to be in front of cameras and that we have to answer all types of questions."

After Ms Caride cancelled several more media opportunities and refused to reschedule, officials had no choice but to retire the titleholder.

It is the first time a contestant from Puerto Rico has had her title removed.

Ms Caride apologised for her antics in Facebook Post saying "beauty queens we are not exempt from having a bad day."

Kristhielee Caride apologised to fans

Her replacement, Brenda Jimenez has been appointed Caride's title


After being a stay-at-home mom for 10 years, Kirsten Cheney wanted to pick up her career as a graphic designer. The 46-year-old divorced mother of four returned to Vermont from Boston after reconnecting with a fellow designer who was running his own studio in Burlington.

She got a "returnship" with her friend—an internship-like program for experienced people who have been out of the labor force for some time.

"I met with him and suggested the returnship and started at his studio in 2009," Cheney said. "I would go in a few times a week, and he had me working on basic design tasks—which was great since over the last 10 years much of the technology end of the business had evolved and I needed to catch up."

She didn't intend to get a full-time job there and got no pay but "it did update my work experience and help me build connections in the Burlington area," said Cheney, who now has her own freelance business, Swannery Design.

"If you can swing it, I would highly recommend a returnship for anyone trying to get back into the workforce," she said.

Cheney's returnship is a variation on intern or "extern" programs that companies of all sizes are using to bring people who have been out of the workplace for a while back in, even if temporarily.

"Employers have told us that they've been moving to a model where the contract consultant is a permanent part of their workforce," said Carol Fishman Cohen, co-founder of IRelaunch, which runs career re-entry programs.

"Returnships are part of this new way of work opportunities," she added.

(Read more: Retirement roulette is the new American normal)

But not everyone sees them as a first choice.

Returnships raise concerns about pay and labeling, said Allison O'Kelly, founder and CEO of Mom Corps, a career development firm.

"Consideration for a returnship should be after many other avenues have been exhausted," she said. "You don't want a company's clever marketing-speak to follow you career-wise."

Summary: Many firms offer them as a way for job seekers to get back into the workforce, but they do have drawbacks.


Every spring, an interesting debate rages: Which sport has the better playoffs, the NBA or the NHL?

We're not talking popularity. The NBA playoffs still boast far better TV ratings than the NHL, although if you factor in Canadian viewership, the numbers are less pronounced. We're talking pure entertainment value.

Several analysts are calling these NBA playoffs one of the best in recent memory because of the number of close games, while hockey analysts are saying the same thing about the NHL playoffs, where 22 games have already gone to overtime and 39 have been decided by one goal.

But there's one major difference between the two postseasons that gives hockey a decided edge: predictability.

While two No. 1 seeds (Indiana and San Antonio) were squaring off against two No. 2 seeds (Miami and Oklahoma City) in the NBA's conference finals this week, a No. 4 seed (Montreal) was facing a No. 5 seed (New York Rangers) in the NHL's Eastern Conference Final, while a No. 5 seed (Chicago) was facing a No. 6 seed (Los Angeles) in the Western Conference Final.

There's nothing wrong with watching the top dogs square off for supremacy in the NBA -- unless of course you're a fan of one of those other teams. There is definite merit to seeing regular-season efforts rewarded before settling which team is the best of the best.

On the flip side, how interesting can those earlier rounds truly be when the outcome seems all but determined? There have been some notable upsets in the history of the NBA, but Cinderella generally doesn't play more than a round or two, and Cinderella almost never wins the title.

Of the NBA's 67 champions to date, 65 of them were either a No. 1 seed (48), a No. 2 seed (10) or a No. 3 seed (7). One No. 4 seed has won the title (Boston in 1968-69), and one No. 6 seed (Houston in 1994-95). One No. 8 seed has ever advanced to the Finals (New York in 1999). That's it.

So if you're a fan of a low-seeded team that gives a high seed a run for its money, is it really drama, or just pseudo drama? Let's face it, if your NBA team is seeded lower than No. 3, you've got virtually no chance (2.99 percent according to history) of seeing that club raise the Larry O'Brien Trophy.

Where's the drama in that?

By contrast, the NHL playoffs offer renewed hope for every team left standing. This year's playoffs alone have ensured that a lower-half seed will win the Cup. In 2012, the L.A. Kings became the sports' first No. 8 seed to win the Cup when they upset top-seeded Vancouver, second-seeded St. Louis, third-seeded Phoenix and then outlasted the Eastern Conference's No. 6 seed, the New Jersey Devils, in six games to win the franchise's only Cup.

Entering this postseason, the top NBA seeds in each conference had fallen in the first round just 8 percent of the time, compared with 26 percent in the NHL.

The two NBA No. 1 seed vs. No. 8 seed upsets in the 1990s were in best-of-five series. The three since the turn of the millennium were best-of-seven series, and one of those was Philadelphia over Chicago in 2012 when the Bulls lost star guard Derrick Rose to a torn ACL in Game 1, then lost center Joakim Noah later in the series. That's hardly an upset.

Aside from the L.A. Kings' incredible run, the No. 5 seed New Jersey Devils won the Stanley Cup in 1995; No. 4 seed Montreal won in 1993; No. 4 seed Pittsburgh won in 1992; No. 5 seed Montreal won in 1986 (when divisional playoffs still existed) and going way back, the Chicago Blackhawks, who finished with a 14-25-9 record, won the Stanley Cup in 1938.

So what's at play here? One theory is that a hot goaltender can carry a team to the Cup. There have certainly been instances of that phenomenon. Jonathan Quick won the Conn Smythe Trophy as playoff MVP for L.A. in 2012, and Martin Brodeur was brilliant for the Devils in 1995.

But the greater issue is a numbers game. NBA teams only have five players on the floor at the same time, and maybe nine who truly impact a game. The NHL playoffs require use of the full game-day active roster of 21, and then some, due to injuries that always occur.

When you have one or two superstars who can impact the game in greater percentages based on their playing time, as the NBA does, the outcomes become more predictable -- especially when the NBA affords teams the opportunity to essentially stop play and set up their offense to create isolations and favorable matchups.

It's far more difficult to do that at the much faster NHL pace when lines are changing every 45 seconds or so. And it's far harder for a superstar to impact the NHL game when the top forwards only play between 35 and 40 percent of the game and top defensemen anywhere between 45 and 50 percent.

None of this is intended to persuade you to drop one sport for the other. As we noted above, both formats have their merits. But if it's true drama you want -- and a chance for your lowly team to rise up and shock the world -- the NBA playoffs can't hold a candle to the NHL playoffs.

Follow Craig Morgan on Twitter

Summary: Lower seeds have a far better chance of winning the Stanley Cup than the Larry O'Brien Trophy


Small businesses aren’t hiring. The latest employment survey of such firms is due out today from the National Federation of Independent Business. And it’s going to be ugly. “Reported job creation turned negative in April, with the average employment change per firm falling to an average loss in employment of 0.08 workers per firm,” NFIB Chief Economist William Dunkelberg tells us. He figures that the government’s Friday jobs report covering firms of all sizes will show no change in the unemployment rate and a gain of around...

Small businesses aren’t hiring. The latest employment survey of such firms is due out today from the National Federation of Independent Business. And it’s going to be ugly. “Reported job creation turned negative in April, with the average employment change per firm falling to an average loss in employment of 0.08 workers per firm,” NFIB Chief Economist William Dunkelberg tells us. He figures that the government’s Friday jobs report covering firms of all sizes will show no change in the unemployment rate and a gain of around 200,000 jobs in April.

The “most hopeful way” to look at the rise of Donald Trump is that “GOP voters see Mr. Trump as the vehicle for American revival,” writes the Journal editorial board. But Mr. Trump is no Reagan, “who had spent 40 years developing a philosophy of limited government and the U.S. national interest.” Looking on the bright side, if Mr. Trump wins in November he would likely have Republican majorities in the House and Senate ready to write tax and health-care reforms. “An economic growth revival is more likely with President Trump than President Clinton,” notes the editorial.

Dan Henninger and Karl Rove are both offering advice to Mr. Trump. Mr. Henninger advises the likely GOP nominee to listen to libertarian activist Charles Koch. Meanwhile Mr. Rove thinks Mr. Trump should “get his wife and daughter to travel with him to major appearances. When they are around he is more personable and hurls fewer insults.” Also, if Mr. Trump opens his wallet to fund his own campaign, he can gain an edge. Under FCC rules, “Mr. Trump’s campaign can buy TV at the lowest possible price, and Mrs. Clinton’s super PAC can’t. In other words, he can match her super PAC’s throw-weight with less than half the money,” adds Mr. Rove.

Protesters on the faculty at George Mason University are opposing the renaming of its law school in honor of the late Justice Antonin Scalia. A law professor at the school, Lloyd Cohen, writes in our pages today that the new name “is entirely appropriate: Justice Scalia was a jurist of immense importance. I say this notwithstanding that both I and my colleagues at the law school often disagreed with him.” Mr. Cohen also points out that none of the vocal protesters actually teaches law. This GMU faculty crowd is really something. They resist association with a giant of American jurisprudence, but they’re silent while one of their colleagues, Jagadish Shukla, fleeces taxpayers and tries to stifle scientific debate.

Also in our pages today, Michelle Obama and Jill Biden urge companies looking to hire tech workers to consider highly-trained military vets and their spouses.

And as Britain decides whether to stay in the European Union, Holger Schmieding says that Germany shows how a country can still thrive even as it’s overseen by the bureaucrats in Brussels. “Within the EU, a member remains free to choose. If it gets its domestic policies right, it can use the EU common market as a springboard to success. If it gets its policies wrong, it can end up at the bottom of the pile instead. Domestic policy still shapes the fate of a nation in Europe,” adds the Berenberg chief economist.

Summary: Advice to Trump: Bring Melania on the Road