The following is a rundown of the day’s news drawn from other media sources with topics curated just for Money and Markets readers: personal security and freedom, business and finance, and world news.
Personal security and freedom
Coca-Cola Super Bowl Ad Stirs Controversy with Multilingual Singing of ‘America, the Beautiful’
The ad showed Americans of different races and ethnicities singing “America, the Beautiful” in a variety of different languages. After it aired, many took to social networking sites to express their outrage at the song being performed in any language other than English.
Students Sign Petition to Have Gun Owners Executed in Concentration Camps
Media analyst Mark Dice has once again documented how many young Americans are completely disconnected from reality, capturing California college students signing a fake petition to imprison all legal gun owners in concentration camps and even to have them executed.
Conservative Legal Activist Asks Supreme Court to Hear NSA Case
“I’m confident that this case will move along quickly. One minute that one American’s constitutional rights are violated is one minute too much,” said Larry Klayman, who sent the unusual petition to the high court on Monday.
General Motors Pays Female CEO far Less Than Male CEO
Given the fact the U.S. Treasury has sold its stake in GM, meaning there are no pay restrictions, and given the CEO’s tenure, why is she making 48% of her male counterpart’s compensation? Shouldn’t it be a “growing concern” that her lower compensation is “out of step with market practices”?
‘Patrol-Bots’ Eyed as Surveillance Answer
A California start-up is turning out capsule-shaped robots that it says could serve as the eyes and ears of base police units. That means that in addition to sophisticated intelligence, surveillance and reconnaissance capabilities, they are equipped with analytics enabling it to detect threats to people or property and summon police.
Business and finance
Stocks Unravel After Factory Report; Dow Sinks 300-Plus Points
U.S. stocks were hammered on Monday, with benchmark indexes falling through key support levels after a gauge of factory activity disappointed, heightening concern about the economy before Friday’s monthly jobs report.
Markets Fear U.S. Economy Chilled by More Than Weather
“We’re seeing other confirming reports that the economy is not delivering in the zone we were expecting,” said Jack Ablin, chief investment officer of BMO Private Bank. “I’m sure I was part of the consensus thinking the economy wasn’t only expanding but accelerating.”
Wall Street Slams Asian Shares, With the Nikkei Falling 4.2%
“We have been bombarded with negative headlines and data points, and it just adds to the gloom,” said Paul Mackel, head of Asian currency research at HSBC Holdings in Hong Kong. “There is no obvious light at the end of the tunnel.”
Euro May Be Resurfacing as a Safe Haven
When emerging markets took a steep fall in the past few weeks, dragging global assets with them, the euro shrugged it off. On some days, the currency has even managed to rally while stocks are crashing–a tendency usually associated with the Japanese yen or the U.S. dollar.
The X-Factor in the Stock Market
There’s a catalyst in the market that’s somewhat unpredictable. And when it pops up, it can play havoc with stocks. The X-factor is perceived weakness in China. A company’s ability to execute in China may be a new and powerful theme that could wield considerable influence in the days ahead.
World news
China and Russia — Defense Budgets Soar
Spending across Asia and the Middle East is surging even as the military powers of Europe and the U.S. are forced to scale back dramatically in the face of austerity cuts — contributing to a steady change in the balance of military power.
Sochi City Hall Orders Killing of Stray Dogs
A pest control company that has been killing stray dogs in Sochi for years announced that it has a contract to exterminate more of the animals throughout the Olympics. Shooting stray dogs has been common practice in many Russian regions despite activists’ efforts to push authorities for more humane ways of dealing with the issue.
Germany Preparing Third Financial Rescue for Greece
The renewed help follows revelations of clandestine talks between German Finance Minister Wolfgang Schäuble and leading EU figures over how to deal with Greece, which despite receiving the biggest bailout in global financial history, continues to remain the weakest link in the Eurozone.
Britain Bars Entry to French Comedian Accused of Anti-Semitism
The comedian has been repeatedly fined for “hate speech” in his native France where local authorities in several towns have banned his shows as a threat to public order. He is closely associated with a gesture that critics have likened to an inverted Nazi salute and said carries anti-Semitic overtones.
Greece’s Neo-Nazi Golden Dawn Party Will Adopt New Name if Banned
Golden Dawn was declared a “criminal organization” after Sept. 18, when self-identified Golden Dawn members murdered a white Greek civilian rapper Pavlos Fyssas, or Killah P, who rapped against the kind of racism that Golden Dawn practices.
Best wishes,
The Money and Markets Team
