HENCE31 USAF Rivet Joint done over Black Sea after some track time sw of Crimea

The Rivet Joint's modifications are primarily related to its on-board sensor suite, which allows the mission crew to detect, identify and geolocate signals throughout the electromagnetic spectrum. The mission crew can then forward gathered information in a variety of formats to a wide range of consumers via Rivet Joint's extensive communications suite. The interior seats more than 30 people, including the cockpit crew, electronic warfare officers, intelligence operators and in-flight maintenance technicians. The Rivet Joint fleet was re-engined with CFM-56 engines with an upgraded flight deck instrumentation and navigational systems to FAA/ICAO standards. These standards include conversion from analog readouts to a digital "glass cockpit" configuration. All Rivet Joint airframe and mission systems modifications are overseen by L-3 Communications (previously Raytheon), under the oversight of Air Force Materiel Command.

https://www.af.mil/About-Us/Fact-Sheets/Display/Article/104608/rc-135vw-rivet-joint/

>morning

>>72148

o7

Wells Fargo smashes profit estimates on reserve release boost

Wells Fargo & Co swung to a profit in the second quarter, smashing Wall Street expectations, as it released $1.6 billion in funds it had set aside to cover loans that might have gone bad.

The lender also had more room to cut costs in the quarter as expenses tied to its years-old sales practices scandal stabilized, although it struggled with slowing loan growth. Charlie Scharf, who was named Wells Fargo’s chief executive officer in September 2019, is battling to turn the bank around after two other chief executives failed to do so, and the bank had to spend billions of dollars for litigation and remediation expenses. Wells Fargo reported a profit of $6 billion, or $1.38 per share, for the latest quarter, compared with a net loss of $3.85 billion, or $1.01 per share, a year earlier.

Analysts on average had expected a profit of 97 cents per share, according to estimates from Refinitiv. Its results in the prior-year quarter were hit by $9.5 billion in loan-loss reserves and a $1.2 billion loss tied to the sales scandal. Wells Fargo shares were up 2.7% in morning trading. Average loans fell to $854.7 billion in the quarter from $971.3 billion a year earlier, with commercial banking posting the biggest decline at 22%.

Soft loan demand combined with rock-bottom interest rates also sent net interest income - a key measure of how much lenders can make on the difference between what they earn from loans and pay out on deposits - 11% lower. The lender said revenue at its banking unit was hurt by lower debt capital markets earnings and the impact of lower interest rates as well as an asset cap on deposits.

The bank is not allowed to let its assets rise above $1.95 trillion under an order imposed by the Federal Reserve in 2018. Wells Fargo has fewer ways to cushion declines in revenue from low interest rates as the bank does not have a large capital markets business like JPMorgan Chase or Citigroup Inc. Bank of America Corp’s lending business also took a hit from low interest rates put in place to revive a pandemic-hit economy. Bank-wide expenses at Wells Fargo fell 8%, primarily due to lower operating losses, as well as reduced spending on consultants and contractors, the bank said. Total revenue rose 11% to $20.27 billion.

https://www.reuters.com/article/wells-fargo-results/update-3-wells-fargo-smashes-profit-estimates-on-reserve-release-boost-idUSL4N2OQ2NW

US Producer Prices Soar At Record Pace In June

Following yesterday's hotter than expected consumer price inflation, expectations were for another rise in producer prices this morning and just like CPI, the headline PPI soared past expectations, up 1.0% MoM (rising 7.3% YoY vs 6.7% exp).

That is the highest print on record (back to only 2010) but for context that is the highest since a CPI print in 1982..Core PPI continued to accelerate. Goods prices rose 1.2% MoM and Services were up 0.8% MoM

PPI Goods:

-Within the index for final demand goods in June, prices for industrial chemicals rose 4.5 percent.

-Prices for gasoline, meats, electric power, processed poultry, and motor vehicles also moved higher.

-In contrast, the index for oilseeds fell 11.7 percent. Prices for diesel fuel and for distilled and bottled liquor (excluding brandy) also declined.

PPI Services:

-Twenty percent of the June increase in the index for final demand services can be traced to margins for automobiles and automobile parts retailing, which rose 10.5 percent.

-The indexes for machinery and vehicle wholesaling; hardware, building materials, and supplies retailing; guestroom rental; professional and commercial equipment wholesaling; and transportation of passengers (partial) also moved higher.

-Conversely, margins for apparel wholesaling fell 6.0 percent. The indexes for machinery and equipment parts and supplies wholesaling and for gaming receipts (partial) also declined.

This is a major problem as corporates face collapsing margins from soaring input prices-Cap #2. So either they pass those prices on to consumers or profits collapse? What will Jay Powell say about this later? (Nuffin as usual)

https://www.zerohedge.com/economics/us-producer-prices-soar-record-pace-june

Japan watchdog and BOJ to assess banks on anti-money laundering

Global task force to cite regional lenders for inadequate ID verification.

Japan's financial regulator and central bank will launch a sweeping investigation into how well anti-money laundering measures work at regional banks and other local financial institutions, Nikkei has learned.

The probe, which comes amid a spate of fraudulent money transfers in the country, could get underway this summer. An international assessment by the Financial Action Task Force (FATF) on money laundering, scheduled to be released in August, will likely point out inadequate internal control systems at Japanese financial institutions.

The Financial Services Agency and Bank of Japan intend to learn whether financial institutions are implementing sufficient preventive measures to counter fraudulent money transfers. If they find inadequacies, the FSA and BOJ will conduct necessary reviews and take action. The FATF last assessed Japan in 2008, when it admonished many institutions for lax identity verification standards. The latest assessment is expected to once again note several shortcomings; it is also likely to place Japan into the enhanced follow-up category, a failing grade for countries deemed to have "significant deficiencies." According to Japan's National Police Agency, there were 1,734 fraudulent online transfers last year. While the number is lower than it was in 2019, it represents a 16% increase from five years earlier.

In Japan, it is fairly easy to open a bank account. The country has about 800 million deposits, and in some cases, unused accounts are misused for fraudulent money transfers. The FATF evaluation is expected to call into question regional financial institutions whose systems sometimes do not detect fraud. Compared to major banks, regionals tend to have weaker risk management systems and identity verification processes; this has been an issue for some time. Last year, bank accounts were breached through mobile carrier NTT Docomo's e-money service. The company had to suspend linking its service to regional banks after illicit withdrawals. The FSA and BOJ will partner to investigate the status of money laundering countermeasures at financial institutions. The BOJ will take part in the survey at the request of the FSA due to the large number of regional financial institutions. The central bank does not have supervisory authority but can carry out on-site examinations of financial institutions. Examination results and other information will be shared with the FSA after the BOJ obtains permission from the financial institutions.

In February, Japan's financial regulator revised its guidelines regarding money-laundering and terrorist-financing countermeasures, calling for strict customer management. Depending on the results of the investigation, the FSA and BOJ will look into issuing business improvement orders or request the submission of reports regarding the status of operations and finances. The FSA and BOJ also plan to investigate cybersecurity measures, especially as digital crimes emerge as a major threat to the international community. The watchdog and central bank have been strengthening their cooperation, carrying out integrated inspections of financial institutions. While sharing the workload, they have agreed to update each other on the status of their examinations and future plans, as well as risk awareness.

Countries are rushing to combat money laundering and terrorist financing. Without stronger countermeasures, financial institutions also face reputational risks and possible sanctions from overseas authorities.

https://asia.nikkei.com/Business/Finance/Japan-watchdog-and-BOJ-to-assess-banks-on-anti-money-laundering

>>72153

doing ok

Gettin hotter here earlier doggo nao

Bank of Canada holds interest rates steady, trims bond-buying program

The Bank of Canada on Wednesday held its key interest rate at a record low and reduced the scope of its bond-buying program, while predicting inflation would be higher than previously forecast over the near-term. The central bank also said the risks of the COVID-19 pandemic to Canada’s economy were “significantly diminished,” and that growth should pick up in the third quarter of 2021 after being weaker than expected in the first half of the year.

The Bank of Canada held its overnight interest rate at 0.25%, as expected, and cut its weekly net purchases of Canadian government bonds to a target of C$2 billion from C$3 billion. “This adjustment reflects continued progress towards recovery and the Bank’s increased confidence in the strength of the Canadian economic outlook,” it said in a statement. Separately, it said the third wave of COVID-19 had slowed Canada’s economic growth. “However, these negative effects are waning, and the downside risks associated with the pandemic have significantly diminished,” the Bank said in its summer monetary policy report.

Inflation is now expected to remain at or above 3% - the top of the central bank’s 1%-3% inflation control range - through the rest of 2021 on temporary factors related to the pandemic, easing back to the 2% target by 2022 as those factors fade. It now expects Canada’s economy to grow 6.0% in 2021, down from its April forecast of 6.5%. It revised up the 2022 growth estimate to 4.6% from 3.7%. The Bank of Canada continues to predict economic slack will be absorbed in the second half of 2022, though it cautioned the estimated timing remains “highly imprecise.” Canada is assumed to achieve broad COVID-19 immunity in the third quarter of 2021, which will bolster consumer confidence.

The economic recovery is expected to become more broad-based and self-sustaining over the projection horizon, with a strong rebound in employment seen over the coming months.

https://www.reuters.com/article/canada-cenbank/update-1-bank-of-canada-holds-interest-rates-steady-trims-bond-buying-program-idUSL1N2OQ0Y8

02-5001 USAFSOC C-32B nw after a Bragg ground stop-Eglin AFB depart earlier

Citigroup trounces profit estimates as economic recovery spurs reserve release

Citigroup Inc on Wednesday reported a surge in quarterly profit that swept past estimates, fueled by the bank’s decision to release loan loss reserves that helped offset a plunge in revenue from lower trading and credit card lending.

The bank took down $2.4 billion of funds it had set aside during the COVID-19 pandemic for expected losses that have not yet materialized. A year ago, it had added $5.9 billion to its loss reserves. An economic recovery fueled by vaccine rollouts across the country and a $1.9 trillion stimulus package pushed through by the Biden administration earlier this year has brightened the outlook for Wall Street’s biggest banks, with all of them freeing up funds set aside during the height of the pandemic. “The pace of the global recovery is exceeding earlier expectations and with it, consumer and corporate confidence is rising,” said Chief Executive Officer Jane Fraser. While the latest results from the banks clearly indicate that a recovery is underway, it may not immediately translate into blockbuster profits because of low interest rates, weak loan demand and a big slowdown in trading activity, analysts have said.

Citigroup has also struggled to offset the drag from the credit card businesses where customers cut back on spending and paid off their loans during the pandemic, unlike larger and more diversified rivals JPMorgan Chase and Bank of America. There were, however, positive signs during the quarter, as consumer spending rebounded. Spending on Citi credit cards in the United States jumped 40% from a year earlier. Chief Financial Officer Mark Mason said the bank expects more customers to go back to their pre-pandemic ways of carrying revolving balances and paying interest to Citigroup as government stimulus payments wind down later this year. Results were also helped by investment banking, with revenues rising slightly to $1.8 billion, as dealmakers capitalized on a record M&A boom. Advisory fees for deals surged 77%.

Equity underwriting revenue rose 11%, helped by higher fees from underwriting initial public offerings and special purpose acquisition companies (SPACs). Debt underwriting revenue, however, declined 21%.

https://www.reuters.com/article/citigroup-results/update-3-citigroup-trounces-profit-estimates-as-economic-recovery-spurs-reserve-release-idUSL4N2OQ30H

>>72164

wait until they all find out who was really dere first as settlers and not just a bunch of nomadic tribes

>>72177

Columbian AF Embraer departed JBA on June 16th after a two day stay

>>72192

Dat's wut imma thinking too with that.

.

>>72197

member Maduro tried to habs it taken out of the BOE in 2020 and it was denied.

At least the 'deposited" amount.......

British judge denies Maduro Venezuela's gold in London bank

https://abcnews.go.com/International/wireStory/british-judge-denies-venezuela-access-gold-bank-vault-71571958

Saw dat too re: MOSS/VZ/Cuba makes sense here.

>>72202

BlackRock profit beats as assets grow to a record $9.5 trillion

BlackRock Inc, the world’s largest asset manager, reported a better-than-expected quarterly profit on Wednesday as investors poured more money into the company’s funds, driving robust fee growth and boosting its assets under management to a record high.

BlackRock’s assets under management jumped to a record $9.49 trillion in the second quarter from $7.32 trillion a year earlier. “More than ever, our voice is resonating deeper and more broadly with our clients worldwide,” BlackRock’s chief executive, Larry Fink, said in an interview.

The company continued to gather assets at a robust pace as investors deployed money across BlackRock’s product types and asset classes. Global equity markets’ strength during the second quarter helped boost both assets under management as well as fee growth. The U.S. economy displayed signs of a recovery over the past quarter, helped by large government stimulus and steady vaccination programs. Global financial market continue to display strength a year after the coronavirus pandemic crashed asset prices and hurt risk sentiment. “It seems like everything is going their way right now. It’s just strength across the entire platform,” said Kyle Sanders, an analyst with St. Louis-based financial services firm Edward Jones.

Net inflows for the quarter stood at $81 billion, driven by higher investments in BlackRock’s various funds, including its exchange-traded funds. That figure is well below $81 billion, but well below the $172 billion record set in the prior quarter, with most of the decline due the loss of a $58 billion equity index mandate from a U.S. pension fund client, Sanders said. “Despite them having $9.5 trillion and being so big, they are still best positioned to deliver the best growth over the next couple of years, relative to their peers,” Sanders said.

The company’s adjusted net income rose to $1.55 billion, or $10.03 per share, in the three months ended June 30, from $1.21 billion, or $7.85 per share, a year earlier. Analysts on average had expected a profit of $9.46 per share, according to IBES data from Refinitiv. Revenue rose 32% to $4.82 billion, helped by higher performance fees and 14% growth in revenue from technology services. BlackRock’s shares, which hit a record high on Monday, ahead of the results, rose 16% during the quarter ended June 30, compared with a 15% gain for a Thomson Reuters index that includes more than a dozen of BlackRock’s industry rivals in the United States.

https://www.reuters.com/article/blackrock-results/update-4-blackrock-profit-beats-as-assets-grow-to-a-record-9-5-trillion-idUSL4N2OQ2N1

>>72213

>>72180 45 on GA erection fraud

mebby an "L" dere

kek

>>72222