Turkish rights distributor Saran Media has signed

first_imgTurkish rights distributor Saran Media has signed an agreement to use a 3D conversion platform from technology specialist SterGen to convert sports content  to 3D for Turkish broadcasters and mobile carriers.SterGen’s technology enables real-time conversion of camera feeds and footage into stereoscopic 3D. SterGen’s 3D platform will also enable Saran Media to produce stereo 3D content with a 3D-depth effect for optimised display on glasses-free 3D mobile phones and tablets.last_img

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Cyprus public broadcaster CYBC and pay TV operator

first_imgCyprus public broadcaster CYBC and pay TV operator Cyta have been awarded rights to UEFA Europa League football for the 2012-15 seasons.CYBC will show the best live match as well as a highlights programme every week, while Cyta has been awarded the rights to all remaining games each match week. Up to five live matches per kick-off slot will be broadcast across the Cytavision Sports family of channels, with a weekly highlights programme being screened on Cytavision Sports 1.Both CYBC and Cyta will be able to show games on their websites and on mobile.last_img read more

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Fashion and lifestyle channel Fashion One has expa

first_imgFashion and lifestyle channel Fashion One has expanded its presence in Africa on the TopTV platform.The Fashion One Africa feed will launch on the TopTV platform in South Africa in March. The channel will debut on the platform with shows including Fashion Frontline, and African Fashion International 2012.“We are pleased to be able to announce the launch of Fashion One Africa with TopTV in South Africa and excited to be part of the country’s growing global importance. In addition to bringing the latest fashion, entertainment, and lifestyle programmes from around the world to our audience in South Africa, Fashion One will also showcase African talent with our increasing investment in local productions and, at the same time, provide regular worldwide exposure to the designers and labels in the region through our worldwide network,” said Ashley Jordan, CEO, Fashion One.last_img read more

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Amazonowned videoondemand service LoveFilm is a

first_imgAmazon-owned video-on-demand service LoveFilm is adding seven seasons of The West Wing and nine series of One Tree Hill to its online service, as part of a new deal with Warner Bros. International Television Distribution. The agreement, which LoveFIlm described as a “milestone deal,” also includes every season made of the Golden Globe winning Nip Tuck and sci-fi spin off Terminator: The Sarah Connor Chronicles 1 and 2, which will each be added to LoveFilm Instant.last_img

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French cable operator Numericable is making its 4G

first_imgFrench cable operator Numericable is making its 4G mobile service free of charge to existing La Box subscribers for the first year.Subscribers to Numericable’s existing €45.90 offering will be able to use the 4G mobile service at no extra charge for one year, after which they will be charged €9 a month.Numericable has also said it will offer the mobile service to all subscribers between now and the end of February.Numericable’s 4G service, announced last week, is provided over the network of Vivendi-owned telco SFR.last_img read more

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Finnish telecom operator DNA is combining all its

first_imgFinnish telecom operator DNA is combining all its TV and fixed-network broadband services in a single company, DNA Welho.The move means that DNA will merge digital-terrestrial pay TV unit Plus TV, which it acquired in September last year, into the new unit. Plus TV operator DigiTV Plus will be renamed as DNA Welho.DNA said it would migrate Plus TV to the DNA Welho brand in March, giving a single brand for all TV and fixed-network offerings. The product and service selection of Plus TV will be expanded, according to the company.DNA’s cable network reaches 600,000 homes in Helsinki, Oulu, Lahti, Kuopio, Turku, Pori, Rauma and Lohja, while its own terrestrial VHF network covers about 85% of the country’s homes. The Merger of DNA’s and Plus TV’s terrestrial offerings mean that households are able to view VHF and UHF network using their existing TV caerd, while Plus TV subscribers can now access all Antenna Ready HD approved HD services on the network.“Now is the time to update the receivers and antennas of terrestrial-network households, since all of this year’s major events – such as the Winter Olympics in Sochi, Formula 1 season, Ice Hockey World Championships and FIFA World Cup – will be broadcast in high definition. Both pay TV channels and the new, free HD channels of Yle will feature high-definition offering,” said Pekka Väisänen, VP for consumer business.last_img read more

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Spanish satellite operator Hispasat has extended i

first_imgSpanish satellite operator Hispasat has extended its capacity agreement with RRSat, RTVE and FORTA for distribution of content from 30º West.The Hispasat 1E satellite, situated at this orbital slot, distributes TV and radio channels from the RRSat platform for Europe and America. Hispasat said it is launching a joint program with RRSat, aimed at deploying antennas in Europe, to provide quality content and an increased number of channels in the 30º West position covering Europe.The Hispasat 1E satellite will also distribute content from Spanish public service broadcaster RTVE to America from the same European position, and will broadcast the respective regional Galician and Basque channels TVG and ETB, to America, thanks to its deal with Spanish broadcast federation FORTA.“The capacity of the Hispasat satellites to transmit powerfully to the American continent makes it the transatlantic satellite operator with the biggest and best coverage for providing European programming to America,” the firm claimed.last_img read more

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Online video platform provider Piksel has teamed u

first_imgOnline video platform provider Piksel has teamed up with TV metadata specialist Lingospot to deliver personalisation, search, targeted advertising and content discovery.The partnership will make it possible to derive rich, scene-level metadata for each piece of content, comprising the subjects, themes, topics and concepts contained within it, and to use this compiled intelligence within Piksel’s video solutions to drive content suggestions and advertising selections that are personally relevant to viewers, according to the pair.Lingospot uses patented natural language processing, semantic search, image analysis, and machine learning technologies to analyse multiple modalities of video and extract time-coded metadata about what is happening on a scene-by-scene basis.  Combining Lingospot with the capabilities of the Piksel Palette will enable services such as random access TV viewing, plot based recommendations and personalised media delivery, according to the companies.“Meeting the demands of the online audience and creating compelling user experiences requires deep understanding of the content itself, one that can be achieved with metadata. This can be accomplished using easily accessible metadata about the video content, in combination with analysis of what occurs within the video content. Rich metadata can power increased usage and monetization opportunities through effective content search, discovery, hyper-personalized recommendations and advertising. All of which play a key role in much-needed service differentiation. The addition of Lingospot’s technology to the Piksel Palette™ will give our customers exclusive access to a suite of enhanced metadata services that are truly innovative in the video space and we are delighted to formalize our partnership together,” said Mark Christie, chief technology officer at Piksel.“Over the last two years, Lingospot has focused on building the technology to analyze various modalities of video content.  We have become leaders in deciphering exactly what is happening inside a video stream, in real-time.  This understanding goes a long way towards building revolutionary video discovery and consumption experiences. Piksel is a leader in all the technology elements we were missing to launch these services.  We are excited to be joining forces with Piksel as part of this technology partnership and look forward to launching some of these unique services leveraging our combined capabilities,” said Nikos Iatropoulos, CEO of Lingospot.last_img read more

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Globecast has integrated its private infrastructur

first_imgGlobecast has integrated its private infrastructure with a set of cloud-based tools to provide broadcasters with playout and media solutions.The integration combines features of the cloud with Globecast’s managed media solutions experience.At the heart of Globecast’s cloud-based approach is its Media Factory platform, which allows for the handling and preparation of content for any kind of distribution.This lets customers provide content to Globecast once and then deliver to linear playout, OTT and video-on-demand platforms. Furthermore, Media Factory allows Globecast’s three media centres in London, Singapore and Los Angeles to seamlessly work as a single operation.Globecast’s Channel Localisation offering draws on the flexibility, cost efficiency and accessibility of cloud infrastructure to enable broadcasters to test out services in new markets without needing to make a long-term commitment, according to the firm.In addition, Globecast is rolling out its cloud-based customer portal to provide remote access to channel workflows. The portal gives broadcasters as little or as much control over their channel or content as they want, with the agility to quickly adapt to changing market behaviour.“We’re always looking at how new technology allows us to improve how we support our customers’ business needs, and cloud has some compelling features that we’ve integrated into our existing offering,” said Globecast’s head of media management, Pete Elvidge.Globecast will exhibit at IBC on stand 1.A29last_img read more

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Pay TV penetration in the US and Canada will fall

first_imgPay TV penetration in the US and Canada will fall to 80.3% in 2021 as the number of subscribers continues to fall, according to Digital TV Research.The Digital TV North America Forecasts report claims that the number of pay TV subscribers in North America will fall from a peak of 112 million in 2012 to 106 million in 2021, with a decline of 2 million recorded last year.“At first glance, this does not indicate a massive cord-cutting problem. However, the number of non-pay TV homes will climb from 20.7 million to 33.3 million over the same period, as the number of households will continue to increase,” said Digital TV Research principal analyst, Simon Murray.The report claims that pay TV penetration will drop from 87.1% in 2012 to 80.3% in 2021 and said that 2015 was notable because subscriber losses were recorded for all of the major pay TV platforms – cable, satellite and for the first time IPTV.“Cable has been losing subscribers since 2011. Satellite TV started in 2014, and IPTV joined them in 2015,” said Murray, who noted that prior to last year much of the pay TV subscriber decline had been attributed to the loss of analogue cable subscribers.According to the research, pay TV revenues in North America peaked in 2015 at US$111.64 billion and will fall by 12.1% to US$98.10 billion in 2021.last_img read more

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Belgian operator Proximus has selected Ericsson to

first_imgBelgian operator Proximus has selected Ericsson to expand its multiscreen cloud DVR service.Proximus has deployed Ericsson’s multiscreen headend to enable the delivery of enhanced services to its customers, offering a consistent experiences on all screens.Customers can watch content on one screen and then continue it on a different screen, record content on a smartphone to view later on a tablet, swipe content from a mobile device to watch on the TV, and use a mobile device as a virtual remote control.“At Proximus we are dedicated to giving our viewers the best possible service and guaranteeing their enjoyment through the delivery of outstanding content experiences,” said Jean-Marc Capitaine, director of consumer product and solutions at Proximus.“Flexibility is a must-have for today’s TV consumers as they look to watch their favourite programs both inside and outside the home, on a variety of devices. Ericsson’s expertise is helping us to offer exactly this level of flexibility, giving our viewers the opportunity to enjoy a service that they can mould around their connected lifestyles.”last_img read more

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Netflix dominated the list of the most indemand d

first_imgNetflix dominated the list of the most in-demand digital originals in Spain in the second week in August, according to Parrot Analytics. The US streaming outfit took all top 10 slots in a list headed by Stranger Things and Orange is the New Black.Parrot Analytics analyses the demand for recent popular digital titles across international markets, based on the application of artificial intelligence to expressions of demand across social media, fan sites, peer-to-peer protocols and file-sharing platforms.The week from August 7-13 saw Stranger Things secure an average of 2.649 million ‘demand expressions’, closely followed by Orange is the New Black with 2.479 million.Setting Spain aside from other European markets measured by Parrot Analytics, where US content is generally completely dominant, Netflix’s locally-sourced period drama Las Chicas del Cable took fourth place in the Spanish top 10 table, with average demand expressions numbering 1.742 million, up from the number seven slot in mid-July.Colombia-set Narcos, which is filmed in Spanish and English, took fifth place with 1.652 million average demand expressions, while Mexican political drama Ingobernable took the number 10 spot, with 673,000 average demand expressions.Spain is rapidly emerging as one of the most hotly-contested OTT TV markets in Europe, with AMC Networks emerging as the latest to throw its hat into the ring, following launches by HBO, Netflix and Amazon and plans by Sky to launch a service later this year.National telco Telefónica is also believed to be planning to launch its own international OTT TV service to market its home-produced content in other European markets including the UK and Germany.last_img read more

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Sports streaming provider DAZN has tapped CDN prov

first_imgSports streaming provider DAZN has tapped CDN provider Limelight Networks to help it deliver its services.DAZN is using Limelight to provide distribution of its coverage of Japanese professional football league the J League, the rights to which the streaming service acquired in a 10-year exclusive deal.“No one wants an important play in a game interrupted by buffering,” said Robin Oakley, head of distribution technology at Perform Group, owner of DAZN. “Working with Limelight, we’re able to create and deliver a broadcast-like experience low on buffering, low on start-up times, and high on picture quality.”“Sports fans are gaining unprecedented global access to thousands of events thanks to DAZN’s fast growing live and on-demand service. Our massive global private network provides the speed and capacity needed to ensure DAZN’s customers receive the best possible viewing experience on any connected device, anywhere in the world,” said Emma Whitmore, head of account management, EMEA at Limelight Networks.last_img read more

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ShareTweet

first_imgShareTweet “Causing water pollution is a criminal offence and whoever is behind this – whether through negligence or malice – must be brought before the courts.East Derry MLA Gerry Mullan“With no idea what is behind this at this stage, it is unclear how long it will take before the stretch of water recovers.“I will be seeking a full report from the Environment Minister on this shocking situation.”Local resident and keen angler Lucan Newland said the kill was “alarming”. Fish found dead from pollution in River FaughanTHE SDLP MLA for East Derry Gerry Mullan has said the news of a major fish kill in Claudy was “deeply disturbing”.The latest available figures are that in excess of 1,000 fish of a range of species have been killed over several kilometres of river.Brown trout, salmon, sea trout and eel were among the fish that died as a result of the toxic spill into the River Faughan.“The news that in excess of 1000 fish near Claudy have been killed is deeply disturbing, with eyewitness reports that this was like something out of a horror movie.“It is certainly one of the biggest incidents of its kind this year.“It is essential that the Northern Ireland Environment Agency and the Loughs Agency carries out an immediate investigation and determines the cause of this disaster. “The river is the heart and soul of this area and this is going to hit the community hard,” he said.“Salmon fry have been killed in their thousands, brown trout, sea trout and eels have all been eliminated.“Whatever it is that’s been introduced to the river, it’s had no mercy.“The river is dead – it’s very shocking.”center_img MULLAN: CLAUDY FISH KILL WAS ‘LIKE SOMETHING OUT OF A HORROR MOVIE’ was last modified: August 3rd, 2016 by John2John2 Tags: EAST DERRYGERRY MULLANMULLAN: CLAUDY FISH KILL WAS ‘LIKE SOMETHING OUT OF A HORROR MOVIE’NI ENVIRONMENT AGENCYRIVER FAUGHANSDLP MLAlast_img read more

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Indeed by supporting a young person to develop t

first_img“Indeed, by supporting a young person to develop their resilience and confidence in their day to day environment, mentors not only become a guide and a sounding board, but importantly a young person’s friend – which can be such a rewarding experience for the mentor and adds to their own personal and professional development.“This programme is therefore a great opportunity for young people to benefit from the support of mentors who will provide them with new perspectives, increase their self-confidence and guide them towards achieving their desired ambitions and goals”.Training provider Dorothy McKee, who has been commissioned by Council to provide the ‘underpinning knowledge & understanding’ workshops on the new programme added:“Mentoring is an excellent way to invest in the leaders of tomorrow through facilitating young people to grow in confidence and realise their potential. “Indeed, mentors play such a vital role in helping so many young people to go on and become successful in their lives.“It’s also important to note the benefits realised by the mentors themselves – who gain great personal satisfaction from sharing their experience and supporting young people to grow and develop”.The organisations currently signed up to the Youth 19 ‘Government Ambassador’s Programme’ include Derry City and Strabane District Council, Drumahoe Childcare Ltd, First Source, NUPRINT, PSNI and YMCA.If your organisation would like to take part in the new Government Ambassador’s Programme or you would like further information on mentoring please contact Jackie Parkington on 028 7125 3253 ext 6665 or Jackie.parkington@derrystrabane.comMayor launches Youth 19 ‘Government Ambassador’s Programme’ was last modified: June 19th, 2019 by John2John2 Tags: MAYOR of Derry City and Strabane District Council, Cllr Michaela Boyle has launched a new ‘mentoring’ programme aimed at forging the successful careers of young people aged 16-24 currently employed within the Council area.The ‘Government Ambassador’s Programme’ aims to match young employees with mentors to build their capacity and confidence by enabling them to take responsibility for their own learning, development, progression and personal growth. The new initiative is funded by the PEACE IV Programme which is supported by the European Union and managed by the Special EU Programmes Body (SEUPB). Derry and Strabane CouncilDrumahoe Childcare Ltdfirst sourceMayor launches Youth 19 ‘Government Ambassador’s Programme’Mayor Michaela BoyleNuPrintPEACE IV PROGRAMMEPSNI and YMCAYouth 19 ShareTweet The Government Ambassador’s Programme also provides ‘underpinning knowledge & understanding’ workshops that include: Good Relations in the Workplace; Personal Effectiveness; Decision-Making & Problem Solving; Competency Based Interviews; Presentation Skills and Introduction to Child Rights (UNICEF).The programme is one of a number of strategic projects led by Derry City and Strabane District Council during Youth 19 – a year dedicated to 12-24 year olds in the North West aimed at promoting the voices, needs, priorities and rights of young people.Mayor Boyle said: “I am delighted to launch this fantastic programme aimed at better improving our young people for the world ahead – and importantly providing them with the skills that they’ll need for successful future development.“Mentoring can be a tremendously positive experience for both mentees and mentors. last_img read more

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Google

first_img Google+ Linkedin Previous PostCompany sues to nix section of West Virginia broadband bill Pinterest Facebook SportsSports NewsWVU Crawford, Grier Receive Big 12 Preseason Recognition By Matt DigbyJul 13, 2017, 00:09 am 774 0 Twitter Tumblr Matt Digby Matt Digby is the Sports Director at WOAY-TV. He joined the station in January 2015 – right in the middle of Big Atlantic Classic Week. Read More Mail Home Sports News Sports Crawford, Grier Receive Big 12 Preseason Recognition Next PostMiners Take Low-Scoring Contest WOAY – The Big 12 released its preseason all-conference team Wednesday, with WVU running back Justin Crawford the lone Mountaineer on the squad.Crawford is coming off a 2016 season when he led the conference in rushing and was named Newcomer of the Year; he was on the All-Big 12 second team.Quarterback Will Grier was named the league’s preseason Newcomer of the Year, and will look to make a strong start to his WVU career on September 3rd when the Mountaineers face Virginia Tech at FedEx Field in Landover, Maryland.The Big 12 preseason poll will be released Thursday.last_img read more

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What is glaringly apparent is that there is no sho

first_imgWhat is glaringly apparent is that there is no short covering going on by any of the major players in the Commercial category.The gold price made a rather feeble attempt to break through the $1,700 spot price mark early in the afternoon Hong Kong time on Tuesday.  When that got turned back, the price slowly sank to its 12 o’clock noon London low.From that low, gold made another run at $1,700…and that ran into a not-for-profit seller ten minutes after the Comex open.  The low of the day [$1,687.10 spot] came ten minutes after the equity markets began trading in New York.Gold began to rally once again…and the moment the London p.m. fix was in at 10:00 a.m. Eastern time, the gold price blasted higher, hitting its high tick of the day…$1,700.30 spot…about fifteen minutes later.That rally also met with another not-for-profit seller…most likely the same one that showed up at 8:30 a.m.  Once that rally was squashed, gold began to move higher once again, even gaining ground in the electronic market, before getting sold off a bit once it got a sniff of the $1,700 price mark once again.Gold closed on Tuesday in New York at $1,696.20 spot…up $3.60 from Monday’s holiday-shortened trading session.  Volume was pretty chunky, even once Monday’s volume was subtracted.  Both days combined was around 190,000 contracts.Here’s the New York Spot Gold [Bid] chart so you can see the New York shenanigans in more detail.Silver traded in a reasonably tight price range yesterday but, it obviously had some help doing that, as every serious attempt to move higher got sold off.  Silver’s last rally of the New York trading session [during electronic trading] took it to its high of the day…$32.53 spot…around 3:20 p.m. Eastern time, before it got sold down a bit going into the close.Silver finished the Tuesday session at $32.36 spot…up 26 cents on the day.  Net volume, including Monday’s volume, was in the neighbourhood of 62,000 contracts…which I thought was pretty heavy.Here’s the New York Spot Silver [Bid] chart for a close up of the New York price action.It should be obvious that if the usual not-for-profit sellers hadn’t been around, both metals would have finished materially higher…with the emphasis on ‘materially’.The dollar index opened around the 81.20 mark on Monday night…and within four hours had hit its low tick of the day around 81.05.  The next rally began just before London opened at 8:00 a.m. BST yesterday morning…and then moved higher until 9:00 a.m. in New York…and more or less traded sideways into the 5:30 p.m. Eastern time close.  The dollar index closed at 81.34…up a whole 14 basis points.One would be hard pressed to find much co-relation between the precious metals prices and the currency moves yesterday.The gold stocks opened lower…and hit their nadir at gold’s 9:40 a.m. Eastern time low tick.  The subsequent rally didn’t get far…and the gold shares more or less traded sideways into the close.  It should come as no surprise that it was the poor performance of the South African gold stocks that caused the index to finish in negative territory. The HUI finished down 0.52% yesterday.However, it was an entirely different story in the silver stocks…as virtually every one finished well into the green yesterday…especially most of the junior producers.  Nick Laird’s Silver Sentiment Index closed up 2.26%.(Click on image to enlarge)The CME’s Daily Delivery Report was a yawner yesterday.  It showed that 7 gold and only 27 silver contracts were posted for delivery on Thursday within the Comex-approved depositories.  Just 348 silver contracts have been posted for delivery in the September delivery month…and according to the CME’s preliminary volume report from yesterday, there are still 2,008 silver contracts open in September.  What are the short/issuers waiting for?  Maybe they’re waiting for silver to be shipped in to the Comex-approved depositories so they can deliver it to the long/stoppers.The GLD ETF reported that an authorized participant added 16,357 troy ounces of gold yesterday.  But over at SLV, it was the same old story…instead of silver pouring into the ETF, an authorized participant[s] withdrew a very chunky 2,519,572 ounces and shipped it off to someplace where it was obviously more desperately needed.  One has to wonder just how much silver the SLV ETF is owed…and just how many shares have been sold short in lieu of providing the real metal.  We’ll have some sort of clue when shortsqueeze.com posts that data for the last two weeks of August…and Ted Butler says that will happen around the September 12th.  If that’s the correct date…then that’s next Wednesday, a week from today.The U.S. Mint had a smallish sales report to start off the month.  They sold 2,000 ounces of gold eagles…500 one-ounce 24K gold buffaloes…and 250,000 silver eagles.  I sure hope you’re getting your share, dear reader!It was a pretty busy day over at the Comex-approved depositories on Friday.  They reported receiving 1,248,363 troy ounces of silver, but only shipped 239,318 troy ounces out the door. The link to that activity is here.I have the usual number of stories again today…and I hope you have time to read the ones that interest you.It appeared to be a quiet trading day yesterday if you just looked at the price action…but the volume certainly didn’t reflect that.  Gold’s repeated attempts to break through the $1,700 spot mark were met with not-for-profit selling at ever turn…and the same can be said about silver.The cut-off for Friday’s Commitment of Traders Report came at the close of Comex trading yesterday afternoon…so last Friday’s big up day…and yesterday’s price action will be included in that report when it comes out.  Both Ted and I are awaiting that report with great interest, just to see how grotesque the short positions have blown out in both gold and silver…and what JPMorgan et al have been up to.  Even more interesting will be the positions taken by the Raptors.  Will they have gone even further short in gold…and now be market-neutral in silver?What is glaringly apparent is that there is no short covering going on by any of the major players in the Commercial category…and what they do 100% determines what happens to precious metals prices.  At the moment they are resisting this rally with everything they’ve got.  Are they finally trapped on the short side with not way out?  I don’t know, but we’ll find out soon enough I would think.We still remain monstrously overbought in the short term…but a quick peek at the 2-year silver chart below shows that we can remain in that position for long periods of time…and the July 2010 through May 2011 rally is a case in point.(Click on image to enlarge)If that time period proves to be a blueprint for what is about to happen now over the next six months or so, one has to wonder out loud just how the traders in the Commercial category are going to get through this without getting over run.  And if they do get over run, it will be [as Ted Butler has kept telling me over the years] for the first time.But, as I said in this space yesterday, all we can do is wait it out and hope that we’ve covered all the bases.  That’s pretty much my own personal situation.  And every dip should be bought.These are unprecedented times that we are living in…and I, for one, have no idea how it will all turn out in the end, except to say that whatever happens will be one for the history books.Both silver and gold came under a bit of selling pressure during the Far East trading session…and that’s continuing into London trading.  A lot of that has to do with the ongoing rally in the dollar index, which is up about 30 basis points as of 5:01 a.m. Eastern time…10:01 a.m. BST in London.  Based on that, I wouldn’t read much into the price action of either metal at the moment.  Gold volume is pretty light…and silver’s volume is already decent…over 5,900 contracts at the moment.Today, hopefully, gold will finally break through the $1,700 price ceiling but, considering yesterday’s price action, I don’t expect that the attempt will go unopposed. As is almost always the case, the lion’s share of the price action…and the volume…comes once Comex trading begins at 8:20 a.m. Eastern time.  I don’t expect today to be any different. That’s all for today.  See you tomorrow. Sponsor Advertisement Pelangio Exploration Inc. (PX:TSX-V; PGXPF:OTC) announced the results of seven diamond drill holes totaling 1,574 metres from its ongoing drilling program at the Pokukrom East zone on the Manfo Property in Ghana.  Highlights of the results included:·        1.19 g/t gold over 113 metres, including 9.05 g/t gold over 7 metres; ·        2.60 g/t gold over 64 metres, including 11.94 g/t gold over 10 metres; and ·        16.72 g/t gold over 4 metres.The results continued to confirm a higher grade, shallow north plunging core of Pokukrom East zone with an open plunge of 600 metres from near surface in previously reported hole SPDD-088 (7.01 g/t gold over 19 metres) to 210 metres depth in the holes reported this week.  Warren Bates, Senior Vice President Exploration, commented: “These are our best holes on the Manfo Property to date. These holes represent the north-plunging core of higher grade mineralization at Pokukrom East, now demonstrating an open plunge length of 600 metres.” Please visit our website to learn more about the project and request additional information.last_img read more

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In This Issue Dollar gains ground on Friday…

first_imgIn This Issue.* Dollar gains ground on Friday… * Nordic countries get some love from the Economist… * China surpasses the US as the largest trading nation… * Gold slips as Lunar Holiday saps demand…And, Now, Today’s Pfennig For Your Thoughts!Dollar gains ground as European crisis moves back into the news…Good day. Chuck is headed down to Houston for a checkup, and then he will be traveling with his son Alex to visit some colleges.  I traded emails with Chuck last night, so I know he was able to make it down to Houston without any delays.  Lucky for him that he wasn’t headed out East!  The weekend news was dominated by the weather which brought a major snow storm to the upper east coast on Friday night and severe storms to the southeast last night.  The video of the tornado ripping across Mississippi was certainly scary.  I just hope everyone was able to take cover. Currency traders were running a bit scared on Friday as they moved out of ‘risk trades’ and back into the US$.  The dollar index continued to move higher, and has not had a ‘down’ day in February.  The index has recovered as the euro continues to give back some of the gains it had booked during the first month of 2013.  But the euro is trading a bit higher this morning on expectations that Federal Reserve official Janet Yellen will strike a expansionary tone when she speaks later today in Washington.  The Fed’s Vice Chairman is seen as one of the more dovish members of the FOMC and will probably make a case for extended monetary stimulus here in the US.  Vice Chairman Yellen is seen by most to be the logical successor to Chairman Ben Bernanke when his term ends in a year, so the markets definitely pay attention to what she has to say. News out of Europe is also helping to strengthen the euro a bit this morning.  As Chuck reported last week, ECB President Mario Draghi threw the common currency under the bus when he voiced concern that the euro’s strength would hamper the nascent European recovery.  This was a classic case of ‘jawboning’ by the ECB President, and it certainly worked as the euro dropped just under 2% after his warnings.  But Draghi has resisted calls from French President Francois Hollande to steer the value of the euro even lower to boost growth.  “The exchange rate is not a policy target, but it is important for growth and price stability,” Draghi said late last week.  “We want to see if the appreciation is sustained, and if it alters our assessment of the risks to price stability.”  Spoken like a true central bank leader – maintain price stability!!But the crisis in Europe isn’t over by any means.  Spanish bond yields have started to move higher again after reports of corruption by the ruling party were published by a major Spanish newspaper.  A presidential election in Cyprus is also weighing on the value of the euro as many believe a bailout will be needed for the tiny island nation.  I read over the weekend that many believe the aid package needed for Cyprus will match the overall size of their economy (about 18 billion euros).  While the size of the rescue package isn’t really a concern, if for some reason European leaders can’t agree on the aid we could see Cyprus default.  This could throw fuel back on the embers of the European debt crisis causing it to erupt back into the forefront of the currency markets.  The Nordic countries continue to be the bright spot on the European continent.  Norwegian underlying inflation unexpectedly accelerated in January, increasing 1.2% from 1.1% in December.  Policy makers in Norway’s central bank have signaled they would raise rates if/when inflation becomes a problem.  Officials of the Norges bank left rates unchanged during their meeting in December, but stated they could possibly raise rates as early as March if inflation warranted it.  Norway’s economy continues on solid footing thanks to oil exports, and a rate increase would definitely be seen as a positive for the Norwegian krone.As I stated in my opening paragraph, Chuck flew to Houston last night, and both he and I love to read the Economist magazine whenever we travel.  Chuck sent me the following email regarding an article which caught his eye in this week’s Economist.Sitting here at Lambert waiting to leave reading the latest Economist when the title of an article seemed a bit out of place for this publication: The next supermodel.  No, they weren’t talking about swimsuits, but instead they were talking about the Nordic countries.   Here’s a snippet: Sweden has reduced public spending as a portion of GDP from 67% to 49% it has also cut the top marginal tax rate by 27 percentage points since 1983.  This year they are cutting corp tax rate from 26.3% to 22%  It’s public debt fell from 70% of GDP in 1993 to 37% in 2010 and its budget moved from an11% deficit to a surplus of .03%It goes on and on about Sweden, Norway and Denmark.  Great article that proves what we’ve been saying about Norway and Sweden for years!Chris again, and yes, we have been big fans of the Nordic currencies for a while now. Norway and Sweden continue to be very popular with clients calling into the desk, as both of these countries provide some shelter from the debt crisis in Europe.In other European news, the pound sterling weakened for the first time in four days against the dollar after UK employment confidence declined in January.  The gauge of employment prospects dropped to minus 45 from minus 42 in December. The pound has been weakening vs. the Euro this year, giving up nearly 4.8% of its value vs. the Euro and dropping 3.3% vs. the US$.  Chuck was right on with his call for a narrowing of the Trade Deficit here in the US for December.  The Trade Balance narrowed to a deficit of $38.5 billion, much narrower than the expected $46 billion.  January’s figure was unchanged at $48.6 billion.  As Chuck suggested, the weaker dollar helped narrow the deficits as imports decreased.A story I read this morning on Bloomberg announced that China had surpassed the US to become the world’s biggest trading nation last year.  US exports and imports of goods last year totaled $3.82 trillion, and China’s trade in goods during 2012 amounted to $3.87 trillion.  The interesting part of this equation is the emergence of the Chinese consumer.  While exports still dominate the Chinese economy, imports are increasing at a much faster rate in China.  According to Goldman Sachs Group’s Jim O’Neill, Germany will probably export twice as much to China by the end of the decade as it does to France.  The Chinese consumer is definitely changing the global economy, and will vault China into a much more powerful global position.  Next step, will the Chinese Renminbi overtake the US$ as the next reserve currency?  I don’t think it will happen quickly, but we are definitely on a steady path toward that very outcome.Today we don’t have any major data releases, with only a couple of mortgage reports expected.  Tomorrow will be a light day also, with just the Monthly budget statement and NFIB Small Business Optimism for January.  Wednesday will bring the Retail Sales and Business Inventories.  Thursday (VALENTINES DAY – reminder for all of you husbands and boyfriends out there) will bring the weekly jobs data and then we will end the week with a flurry of data including the Empire Manufacturing data, Net TIC flows, Industrial Production, Capacity Utilization, and U of Mich confidence data.Gold declined a bit in trading over the weekend as most of the Asian markets are closed for the Lunar New Year.  China and most other Asian markets are closed most of this week for the celebration, and without the Chinese in the markets the price of gold slid.  The Chinese are the second biggest gold buyers, after India.  We could see further slides in prices as demand slackens a bit during this holiday week.  As Chuck always suggests, these dips are excellent buying opportunities!And finally, I read that Venezuela devalued its currency for the fifth time in nine years on Friday.  President Hugo Chavez’s government announced they would weaken the exchange rate by 32 percent.  The devaluation is designed to help narrow a massive budget deficit by increasing the amount of currency received from oil exports.  The budget deficits tripled last year as Chavez went on a spending spree to help him win a third six-year term. Hmm.  Spend a lot of money which your country doesn’t have in order to get re-elected and then devalue the currency in order to help decrease the debts and deficits you created with your spending.  Sound familiar?? Could be describing our own congress.Then There Was This. In a shocking announcement this morning Pope Benedict said he would be stepping down at the end of the month.  Not since the 1400’s has a Pope decided to leave the office as leader of the catholic church.  The Cardinals will now be heading to Rome to pick a new Pope, with the odds favoring the selection of one of the Latin American Cardinals.  I recently shook hands with one of the possible candidates from the US; Cardinal Timothy Dolan.  Cardinal Dolan is a native of St. Louis and was in town for the funeral of Stan Musial.  I realize the changing of the guard in the Catholic church isn’t exactly ‘market moving’ material, but it will give the media something to focus on besides the budget negotiations here in the US.To recap. The dollar rallied on Friday as investors were fearful, but the euro ticked back up over the weekend.  Vice Chairman Janet Yellen is expected to sound a dovish tone today in Washington.  Spanish bond yields ticked up and a rescue will probably be needed for Cyprus.  The Nordic countries are the darlings of the currency markets, and Chuck was correct with his call for a narrowing of the trade deficit.  And finally Venezuela devalued their currency by 32% in order to help narrow the budget deficits which were created by Chavez in order to get re-elected. Currencies today 2/11/13. American Style: A$ $1.0274, kiwi .8321, C$ $.99315, euro 1.3388, sterling 1.5685, Swiss $1.0891. European Style: rand 8.8973, krone 5.5194, SEK 6.4134, forint 217.18, zloty 3.102, koruna 18.856, RUB 30.1322, yen 93.39, sing 1.2396, HKD 7.7549, INR 53.855, China 6.2324, pesos 12.77, BRL 1.9727, Dollar Index 80.235, Oil $95.45, 10-year 1.98, Silver $31.21, Gold $1,657.67, and Platinum $1,713.75.That’s it for today. I spent a very nice evening Saturday night with my son attending his high schools Father / Son banquet.  The speaker was an amazing man who gave a very inspiring speech about overcoming major obstacles in your life.  Mr. Andree Norman was our speaker, I would encourage anyone who has an opportunity to hear him speak to take advantage of it you can read more about Andre at www.andrenorman.com . Mardi Gras was in full swing as we drove downtown for the banquet; if you haven’t heard St. Louis’ party is second only to New Orleans for the largest celebration.  My son’s hockey team lost their second round playoff game Friday night, so tonight’s game is do or die.  GO REBELS! Thanks to everyone for reading the Pfennig, and I hope you have a Marvelous Monday.Chris Gaffney, CFA Vice President EverBank World Markets 1-800-926-4922 1-314-647-3837last_img read more

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In This Issue   Yellens comments stops dollar

first_imgIn This Issue. *  Yellen’s comments stops dollar rally in its tracks! *  Former Fed Head doubts Yellen’s resolve to taper. *  Former Fed banker apologizes for QE! *  Eurozone 3rd QTR GDP ekes out a gain! And, Now, Today’s Pfennig For Your Thoughts! Yellen Says Central Bank Has More Work To Do!. Good day.  And a Tub Thumpin’ Thursday to you! I spent a lot of the day yesterday dealing with a car that had chewed through fuel injector line. Yes, some critter, probably a squirrel (there were nutshells around the scene of the crime, had eaten through my fuel injector line. UGH! I once had a mouse climb up and make a home, until the heat of the engine fried it, but the nesting and remains caused a problem! Why, do critters want to make a home under my car’s hood? Now that’s weird! Speaking of being weird. That’s what this whole market feels to me right now. Stocks are flying through the roof on their way to the moon, albeit courtesy of Fed Stimulus, but the rest of the markets, bonds, currencies, commodities just can’t seem to find a clear direction right now. One day it’s Armageddon, and interest rates are going to go sky high, thus deep-sixing bonds, and the next day they aren’t going sky high, and bonds recover. Same thing in the currencies and commodities, one day it’s all peaches and cream for these two asset classes, and the next day, it’s not.  Yesterday, it was not peaches and cream for currencies and metals, but today, it appears  that it just might be a peaches and cream day! The euro is back to moving higher, inch by inch that is, on news that the Eurozone 3rd QTR GDP printed positive, as it was expected to fall back into negative territory.  It was like doing chin-ups, or pull-ups when I was a kid, the phys-ed teacher would stand next to me and implore me to do one more. And I would struggle, and my face would turn red, and I would huff and puff, and barely squeeze out one me. Well that was the Eurozone economy in the 3rd QTR. It struggled, and there was lots of huffing and puffing, but in the end the Eurozone squeezed out just one more inch of growth to print a .1% gain over the previous quarter or a .4% annualized number. Nothing to brag about, but. as my little, almost 3 now, grandson, Everett likes to say when he achieves something, “I did it!”  The Eurozone, with all the negativity toward their economy being hurled at them daily, was able to eke out a gain. That was a akin to what the old football coach used to tell us. Unless we couldn’t help it, we were NOT to just lay on the field if hurt, get up, and get to the sidelines to show the other team you are OK. (it also helped the parents in the stands to not sit there and wonder, is he OK?)  The Eurozone economy could have just folded tent, and gone home, lay down on the field, and not get up. But, it didn’t!  And for that, the euro is inching higher this morning! Well, as I told you yesterday and probably Tuesday, Janet Yellen is speaking today, and the markets are looking for some direction from the new Top Dog Fed Head. Yellen decided to give the markets a hint of what she’s thinking right now, when she told reporters that “the U.S. economy and labor market are performing far below potential and the central bank has more work to do to support the economy.”   Now, does that sound as if she’s ready to begin tapering, as the markets have so priced in already? It sure doesn’t to me! Speaking of Yellen. Well. I wonder if the markets are so brazen now about tapering coming so soon? MarketWatch had an article on their website yesterday, (I had lots of time to read as my car got fixed!) that would / should put to doubt the markets’ brazen attitude about tapering. Former Fed Gov. Kevin Warsh told the Wall Street Journal yesterday that he has doubts about Janet Yellen’s courage and conviction to tighten monetary policy when the markets are opposed to it. Warsh said that, “the Fed has been handing out candy to spur markets higher, so consider the challenge when a steady diet of spinach is on offer.” The former Fed Gov. has never been a fan of asset purchases, the MarketWatch article goes on to say, that “he criticized the central bank’s second round of asset purchases in a Wall Street Journal opinion piece shortly after it began in Nov. 2010.”   Now, put that in your pipes and smoke it  all you traders bidding up dollars because you believe that tapering is going to begin soon! And while I’m on the subject of Quantitative Easing, I came across something that I found really interesting. Now, long time readers know that I’ve have been vehemently against Quantitative Easing since the first round was announced in March of 2009.  It continues to just turn my skin and cause me to yell at the walls every time I even hear the words Quantitative Easing! Well, this will just make your blood boil, that is if you’re like me, and Lord help you if you are! I found this on Google+, and it originated on the brotherjohnf.com website.  Let me set the table for this for you first. There’s a banker named Andrew Huszar that helped manage the Fed’s Quantitative Easing program from 2009 to 2010.   He has decided to apologize to the American public. let’s listen in: “I can only say: I’m sorry, America. As a former Federal Reserve official, I was responsible for executing the centerpiece program of the Fed’s first plunge into the bond-buying experiment known as quantitative easing. The central bank continues to spin QE as a tool for helping Main Street. But I’ve come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.” Chuck again.  Oh, great, after 4 years of this stuff, he now figures it all out! That’s like saying I’m sorry and expecting everything to be forgiven after you burn down a house!  Or other things like that! I’m shaking my head in disgust right now. The “greatest backdoor Wall Street bailout of all time”? Of course most of us that read or write this letter already figured this to be the case long ago, but to have a former Fed banker come clean, and call it what it is. I find that to be very interesting, and could be a game changer, IF the major media outlets picked it up. But I doubt they will, they have problems finding a snake story when the snake is about to bit their nose off! Well, let’s talk about other stuff, eh? All that QE talk, and tapering or no tapering is beginning to give me a rash!  But the question and answer component of Yellen’s talk in Congress begins today, and considering the way the markets violently reacted to her prepared statement yesterday, this could get pretty dicey, and reveal just how she intends to deal going forward. One of the currencies that has just been on the slippery slide since last week, without any reprieve is the Japanese yen. Yen has broken through, on the upside, the 100 figure. And as far as I’m concerned, this currency has far more ground to lose before reaching what I expected yen to be trading at by now, which was 110.  Once again, I’m ahead of myself and the markets with my thoughts, and all the while that I wait for the thought to come to fruition, I get barbs and fruit thrown at me, by people that don’t know anything about patience! Things are going to hell in a hand basket for Japan. They have awful demographics, they’ve been stuck in the mud for two decades, they have taken what was once a strong Current Account Surplus, led by Trade Surpluses, and turned that negative, and their Gov’t debt is the largest in the world.. so tell me, why wouldn’t yen be falling in value?  These fundamentals are awful. And yen deserves to be put on the chopping blocks every day! The other major currency besides yen and dollars that should be on the chopping blocks every day is the British pound sterling. While some 2nd and 3rd tier data here has been better lately, the real McCoy data, like Retail Sales continues to show the rot on the British economy. October Retail Sales printed weaker than expected this morning printing at -.6% VS the expected -.1%… And non-food sales were even weaker! We had a Bank of England (BOE) member, Fisher, speaking early this morning, and talking about interest rates normalizing in England. Yeah, right! You have Retail Sales falling through the floor, and you’re talking about interest rates normalizing?  That’s funny to me, for it reminds me of that great clip of the football coach, Jim Moira, talking about his awful team’s record, when a reporter asks him about the playoffs, and Moira responds, “Playoffs? Playoffs? Don’t talk to me about playoffs. Are you kidding me? Playoffs? I’m just hoping we can win a game!”  Now, if you’ve ever seen that video / sound clip and you have a sense of humor that similar to me, for there’s no one like me!,  then you’re laughing out loud right now! And then Gold. Oh the poor shiny metal sure has been through some rough times since reaching an all-time high a couple of years ago above $1,900. Most of us have a very good understanding what’s going on here, but for you naysayers, you might want to step back from the car slowly, and go back and research some more. It’s all there for us to see, the price manipulators are so brazen now, they don’t even attempt to hide their short selling ahead of market moving news, or in the afterhours trading any longer.  But there’s some good news for Gold. So, let’s talk about it! My friends over at the 5 Minute Forecast had some interesting tidbits about China’s new Gold Vault yesterday, which prompted them to say that with the price of Gold down, “that’ll be more gold the Chinese can scoop up at bargain prices.”  Here are the guys at the “5”. “This month, a gold vault opened in Shanghai’s new free trade zone — a vault big enough to store 2,000 metric tons, or double China’s projected gold consumption this year. “Such a facility is a massive vote of confidence for the Chinese gold market,” Philip Klapwijk tells Bloomberg. He’s managing director at Precious Metals Insights Ltd. in Hong Kong. “The trend for demand has been very strongly positive.” The rest of Bloomberg’s story is a recitation of things you already know if you read us regularly: China is set to overtake India as the world’s biggest gold consumer this year. Chinese consumption during the first six months of 2013 nearly equaled the total for all of 2012, even as gold is set to record its first annual price drop in 13 years.” I have always told you, dear reader, to follow the money, and if the Chinese believe that buying physical Gold on the dips is a prudent thing to do, for them. Hmmm.. The U.S. data cupboard is chock full-o-2nd and 3rd -tier -data today, including the always interesting Weekly Initial Jobless Claims. And the stupid productivity reports. I say stupid, because the Fed Heads believe that Productivity is important to keeping inflation in check. I say all it does is prove that people can work harder, longer hours, and still not make enough!  Tomorrow, we’ll see Industrial Production, which is usually paired with Capacity Utilization but I don’t see Capacity Utilization on the list for tomorrow. For What It’s Worth. Lots of things to think about today, and consider. and here’s one more.  You know how I’m always telling you that China is hoarding Gold so that they can back their currency with Gold when they decide to float the renminbi, thus making it the most attractive currency in the world.  Well, I found this report on mindweb.com and it talks about how China has been adding to their Gold reserves, but attempting to keep the amount secret. “Since writing a recent article suggesting that China’s Reserve Bank, the Peoples Bank of China (PBOC), has been building up its gold holdings, but without reporting this to the IMF. We have been contacted by a Bloomberg research analyst, Andrew Cosgrove, who has, with his colleague Kenneth Hoffmann, been working on Chinese gold data, and who has come up with a somewhat similar conclusion.  In this case some specific figures have been developed in the research which do tie in well with Philip Klapwijk’s assertion that China has taken some 300 tonnes of gold into reserves in the first half of the current year. The Bloomberg data, which has been available on Bloomberg terminals since mid October, puts a more precise figure on this, suggesting that in the current year the PBOC will likely add some 620 tonnes into its gold reserves, and possibly even more next given the current lower gold price.  China can do this without reporting the increase to the IMF by the simple mechanism of holding the newly acquired gold in a separate account from its official reserves and only transferring it into the official reserve when it deems it timely, or politically expedient, to do so.  This is exactly what happened in 2009 when China announced an increase in its gold reserve from 600 tonnes to 1,054 tonnes with the gold having been acquired over the prior five years. It thus seems increasingly likely that China has been steadily accumulating gold since its last gold reserve announcement, but again not reporting the figures – indeed even denying that it has been doing so – surely a question of interpretation if it is working in the same manner as in the five years prior to its 2009 reserve update?  However, there is plenty of Chinese domestic evidence that it may indeed be increasing its reserves, not least a number of statements from Chinese officials and academics calling for official gold holdings in line with the size of the country’s growing economy – and in China few such statements are made without government approval.” Chuck again. Those sneaky Chinese! HA! The evidence has been there all the time folks, and I’ve told you about the imports, etc. So, this is old news to many of you that pay attention in class each day! HA!  But, IF the U.S. still has their Gold. China could very well match the U.S.’s Gold reserves inside of 10 years..  And when the you know what hits the fan, and the major countries come together to see who has the most Gold, China will belly up to the table, and finally show what they have, and they will end up being the Lead Dog. Scary eh? To recap. The currencies tried to rebound on Yellen’s assertion that the U.S. economy is far from its potential and that the central banks has more work to do, but were quickly slapped back down overnight, only to attempt to rally again in the early morning sessions, led by the euro, where the Eurozone side-stepped a negative 3rd QTR GDP by printing a .1% gain.  The markets might have to take a step back in their brazen attitudes about Fed tapering on the Yellen remarks. I had to stop and sing along and whistle of course (the people on the desk will tell you that I whistle all the time, and it was one of the things I missed doing when I had that egg-sized tumor in my mouth) to one of my fave songs by the Doobie Brothers (before Michael McDonald) titled: South City Midnight Lady. It’s from the Doobies’ best album (in my opinion), The Captain and Me. I think I wore the grooves out on the LP back in the day! Currencies today 11/14/13. American style: A$ .9295, kiwi .8250, C$ .9530, euro 1.3440, sterling 1.6040, Swiss $1.0890, . European Style: rand 10.3405, krone 6.2025, SEK 6.6790, forint 221.55, zloty 3.1160, koruna 20.1860, RUB 32.72, yen 99.95, sing 1.2480, HKD 7.7535, INR 63.12, China 6.1315, pesos 13.06, BRL 2.3245, Dollar Index 81.11, Oil $93.54, 10-year 2.72%, Silver $20.75, Platinum $1,445.85, Palladium $735.80, and Gold. $1,282.16 That’s it for today. I didn’t get a chance to see the sunrise on the water yesterday as it was too cloudy. The arctic blast that hit the U.S. this week, didn’t reach this far south, but we’re still feeling some of the effects, with very strong winds, and cloudy skies, it’s all supposed to get back to norm this weekend. I sure hope so! A local person apologized to me yesterday for the bad weather, and I said, “are you kidding me? It’s 16 degrees back home, I’ll take warmth with some clouds any day, over 16 degrees!”  Mike Meyer was kind enough to send me the Chinese fix rate today, thanks Mike. I forgot to ask Mike what day it was yesterday! Mike, Mike, Mike! We found a neat little local pizza joint last night, that made my day!  Well, I’m late getting this out today, so I had better wish you a Tub Thumpin’ Thursday and get it out the door! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837last_img read more

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