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Bibi1581 Blog For 02/06/2018: Morning Edition

1…………> Breaking: Taiwan Shaker

A powerful 6.4 magnitude earthquake has toppled buildings in the Taiwanese city of Hualien, media reports say.

The tremor struck at 23:50 (15:50 GMT) about 20km (12 miles) off the island’s east coast.



2…………> Storm Of The Century: Moscow

The snow storm that buried Russian capital is the most severe in a century, even for a place world famous with its heavy, but in many cases nocturnal winter scenes.


3…………> Global Ocean Network: China

The world’s first global real-time ocean observation network was established by  Chinese research vessel Kexue, or Science, that placed the 400th profiling float in the northwest Pacific Ocean since the country joined the forefront ocean monitoring plan Argo in 2004.

So far the network covers regions in the northwest Pacific Ocean, the mid and north Indian Ocean, and the South China Sea along the 21st Century Maritime Silk Road, a co-operational initiative proposed by China, and is monitoring in real time the temperature, salinity, and velocity of the upper ocean via float array, in order to tackle climate change and enhance ocean-atmosphere forecasting.



4…………> New Money Sheriff In Town: Powell

Not sooner than now as the stock market has collapsed nearly 5%, erasing billions in Trump created wealth, is Jerome Powell took the oath of office on Monday as Chairman of the U.S. Federal Reserve, succeeding Janet Yellen.

“Today, unemployment is low, the economy is growing, and inflation is low. Through our decisions on monetary policy, we will support continued economic growth, a healthy job market, and price stability,” said Powell after being sworn in to lead the U.S. central bank.

“My colleagues and I will remain vigilant, and we are prepared to respond to evolving risks,” Powell said.

The new Fed head faces an immediate challenge from the wobbly market, as the U.S. stocks opened sharply lower on Monday after a heavy sell-off on Friday.

“We cannot tolerate pervasive and persistent misconduct at any bank,” said Yellen, who rejected President Trump’s deregulation rhetoric.

“I am also pleased to report that our financial system is now far stronger and more resilient than it was before the financial crisis that began about a decade ago. We intend to keep it that way,” Powell said in a statement on Monday.



5…………> Tesla Rival Tanks: China Crash Underway?

Leshi Internet, one of China’s largest video-streaming services, disclosed that it must pay back 5.62 billion RMB (about $890 million), or about two-thirds of the total 9.29 billion yuan (about $1.45 billion) in debt the company owes    by the end of this year. Leshi Internet’s (also known as heavy debts stem from a financial crisis at its sister company LeEco, both of which were founded by Jia Yueting. Jia resigned as Leshi Internet’s chief executive officer last year.

There has been concerns for many months about China’s shadow banking system with estimated loans of more that two trillion US dollars.

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