tyb
Gold jumps to nine-year peak on tepid dollar and stimulus
Gold rose more than 1% to a nine-year high on Tuesday, propelled by a softer dollar and expectations of more stimulus measures to resuscitate pandemic-hit economies, while silver sprinted past $20 for the first time since September 2016. Spot gold gained 1.18% to $1,838.30 an ounce by 1217, having touched $1,842.40 for its highest since September 2011. The dollar eased 0.1% against major currencies after touching a more than four-month low. Widespread stimulus tends to support gold because the metal is widely viewed as a hedge against rising prices and currency debasement. Analysts, however, remain divided on the outlook for inflation. In the United States, too, congressional Republicans announced plans to seek a further $1 trillion in economic relief. A surge in coronavirus cases in the United States and globally have stoked doubts about economic recovery, helping gold to gain about 20% this year. Silver surged 6.04% to $21.10 an ounce after reaching its highest since July 2016 at $21.23.
https://www.reuters.com/article/global-precious/precious-gold-jumps-to-nine-year-peak-on-tepid-dollar-and-stimulus-idUSL3N2ES2HU
https://www.kitco.com/charts/livegold.html
https://www.kitco.com/charts/livesilver.html
https://finance.yahoo.com/quote/%5EDJI
https://www.marketwatch.com/investing/index/dxy
for every $1 that Ag gains the shorts are losing roughly $1B on those pieces of paper carried through COMEX-possibly moar but certainly not less.
AF2 USAF C-32A departed JBA sw
SAM135 US Army G5 also sw from JBA
PAT009 US Army C-560 departed Newport News Int'l and on a holding pattern just sw of DC
PAT580 US Army departed McGuire AFB, NJ ws
Some BRRRRRRRRRRT
0790087 USAF A-10 Thunderbolt out of Aberdeen Proving Grounds, MD wn
ahhhh Ok I member now
sorry I don't have any other info accept they are missed
I do think they were close based on post times
Seems to have had similar ability to post the text just as quick.
But could be wrong.
yes I do. The dog days kickin' in and don't know about you but the "ok..it's time" voice getting louder in head-but I am patient-no other choice
AZAZ09O9 US Army C-560 departing Ft. Bragg, NC after a ground stop-origin JBA
just caught the end of that in pb.
Yes, now recall they mentioned having that situation the last time they were visible.
Certain they have been here but not in kitch.
But stranger things have habbened.
Wells Fargo names BNY Mellon exec Mike Santomassimo as new CFO
Wells Fargo & Co. (NYSE: WFC) named a new chief financial officer on Tuesday.
Mike Santomassimo will start the role this fall. He was at New York-based BNY Mellon (NYSE: BK) for four years, including two-and-a-half years as CFO. Santomassimo also held top roles at New York's JPMorgan Chase & Co. (NYSE: JPM), where he worked for 11 years.
“Mike is a strategic-minded CFO with success in building and leading global finance teams that help drive business improvement,” Wells Fargo CEO Charles Scharf said in a statement. “His experience as the CFO of one of the other seven globally systemic important banks in the U.S. puts him in a unique position to have immediate impact on Wells Fargo. He is action oriented and will be an important partner to me and our entire operating committee as we move our company forward.”
Recommended
Santomassimo will replace longtime Wells Fargo executive John Shrewsberry, who is retiring from the bank. Shrewsberry's banking career spans nearly 30 years. He has been CFO at Wells Fargo since 2014, having previously led Wells Fargo Securities. Shrewsberry will work with Santomassimo during the transition. Scharf said Shrewsberry shared his intent to retire last year. He wanted to stay on as Scharf moved into the CEO role.
"It has been my privilege to be surrounded by a dedicated team and some of the brightest minds in financial services. I am proud of the progress we have made and the team we have built, and I have every confidence in the enterprise finance team to continue the good work we've begun," Shrewsberry said in a statement. Scharf is driving big changes since joining Wells Fargo last October. That includes refreshing much of the bank's leadership. Wells Fargo yesterday named a former Bank of America Corp. (NYSE: BAC) executive as its head of strategy, digital and innovation. Other big hires include: Scott Powell as chief operating officer starting last December; Muneera Carr as controller starting in January; and Lester Owens as head of operations starting this month.
Wells Fargo is still grappling with a 2016 fake-accounts scandal, where as many as 3.5 million accounts were created without customers' consent to meet steep sales goals. Scharf has said multiple times his first priority is to take steps to move the bank past its woes. Wells Fargo has operated under an asset cap since early 2018, part of its outstanding regulatory and legal issues. The bank is doubling down on risk management and revamping its structure for a more streamlined approach. Last week, Scharf also proposed cutting Wells Fargo's annual expenses by at least $10 billion. He noted too many management layers and duplicative processes across almost all lines of business. Cuts are also expected in retail operations.
San Francisco-based Wells Fargo posted poor second-quarter results last week. It posted a net loss of $2.38 billion, or 66 cents per diluted share, in the second quarter. Much of that loss was due to the $8.4 billion added to loan-loss reserves. Revenue also fell by 18% year over year.
Wells Fargo is the Charlotte area's second-largest bank based on deposits. It has its largest employment hub here with 27,500 employees.
https://www.bizjournals.com/charlotte/news/2020/07/21/wells-fargo-names-new-cfo.html