Daily Digest

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Daily Digest 5/24 - HP Axes More Jobs, Tech Poison Killing Chinese

Saturday, May 24, 2014, 11:32 AM

Economy

The Government Isn't Very Good at Deciding What to Keep Secret (jdargis)

"It seems clear, at least to me, that the private companies that own newspapers, and their employees, should not have the final say over the release of government secrets and a free pass to make them public with no legal consequences," he writes. "In a democracy ... that decision must ultimately be made by the government. No doubt the government will usually be overprotective of its secrets, and so the process of decision-making—whatever it turns out to be—should openly tilt in favor of publication with minimal delay. But ultimately ... someone gets to decide, and that someone cannot be Glenn Greenwald."

Congress Blocks the NSA From Meddling With Encryption Standards. Finally. (jdargis)

Internally, NIST has also been working to cleanse itself by eliminating the faulty, NSA-backed encryption component from its standard. And the amendment is an important victory and a good reminder for people who may not think about cryptography every day. Weakened encryption has been one of the NSA's reliable backdoors for collecting data, and the NSA's involvement at NIST was preventing citizens and people worldwide from making informed choices about how to protect their data.

U.S. Gains in a Spat With China Over Tariffs (jdargis)

The decision comes against a backdrop of increasing commercial tensions between Beijing and Washington. The Obama administration has criticized China for its supposed state-sponsored spying on American firms, and challenged its willingness to play by the rules over trade in cars, steel and chickens and other goods. The broader diplomatic situation has become tense as well, over concerns about how to deal with North Korea and whether China’s territorial ambitions in the South China Sea and elsewhere threaten United States allies in the region.

Tech poison killing Chinese (pinecarr)

After a year-long dispute, ASM Pacific Technology agreed to compensate Ming for his illness, but the settlement was insufficient to cover the care he needed. On December 28, 2013, this young man became one of the much-publicized Chinese electronics-worker suicide cases.

He took his own life, jumping from the top of the hospital where he was receiving treatment.

Ukraine Faces Struggle to Gain Control of Militias, Including Those on Its Side (jdargis)

What once seemed a sideshow to Ukraine’s campaign against the rebel militias took center stage on Friday when a firefight pitting the Donbass Battalion against a pro-Russian militia left at least seven people dead just south of Donetsk, the largest city in the region.

The origins of the clash were in dispute.

What China Property Crash? Economists See Growth Bump (jdargis)

Chinese real-estate companies gained today on speculation the government will ease property curbs. An index of developers listed in Shanghai rose 2.1 percent at the close, the biggest advance since April 22. Poly Real Estate Group Co. surged 4.3 percent.

A manufacturing gauge released yesterday signaled the economy is stabilizing after the government announced tax breaks and faster railway spending to support growth. The preliminary purchasing managers’ index for May from HSBC Holdings Plc and Markit Economics unexpectedly rose to a five-month high of 49.7, approaching the expansion-contraction dividing line of 50.

HP axes up to 16,000 more jobs (jdargis)

The announcements of job cuts this week came as part of the company’s quarterly earnings report. After the second quarter of the company’s 2014 fiscal year, HP made a profit $1.3 billion—up 18 percent over the previous time period in fiscal 2013.

“With the first half of our fiscal year completed, I’m pleased to report that HP’s turnaround remains on track,” said CEO Meg Whitman, in a statement. “With each passing quarter, HP is improving its systems, structures and core go-to-market capabilities. We’re gradually shaping HP into a more nimble, lower-cost, more customer- and partner-centric company that can successfully compete across a rapidly changing IT landscape.”

13 Vintage Pictures of Sheep Shearing (jdargis)

It's spring time, which means it's time to shear those sheep. We dug through the Library of Congress to show you pictures of the golden age of American sheep shearing. Enjoy!

Gold & Silver

Click to read the PM Daily Market Commentary: 5/22/14

Provided daily by the Peak Prosperity Gold & Silver Group

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