Universal Detection Technology, a developer of early-warning monitoring technologies and bioterrorism detection devices, recently announced that the company, through its agreement with U.S. Department of Commerce’s Commercial Service, is promoting its handheld assays, which can be used to effectively detect up to five bioterrorism agents.

Under the terms of the agreement, Universal Detection Technology will be listed as a featured U.S. exporter on Commercial Service’s United Kingdom website in preparation for the 2012 Summer Olympics, which will be held in London. Universal Detection Technology’s five-agent bioterrorism detection kits have been used by first responders and private industry throughout the United States to test for anthrax, botulinum toxin, Ricin, plague (Y. Pestis) and SEB’s in three minutes or less.

Jacques Tizabi, Universal Detection Technology’s chief executive officer, stated, “The listing with the department of commerce gives us the opportunity to market our anti-terrorism products in the United Kingdom.” He continued, “The

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Source: David and Eric Coffin, Hard Rock Advisory Journal  05/29/2009
The greatest economic realignment since Genghis Kahn took over Eurasia’s trade routes is continuing apace. The west remains mired in an assets contraction of its own making, and the east is refocused on channeling its growth engines into domestic consumption. The resource sector, which is our focus and which has been governed by those growth engines for a decade and half, is indicating at least the expectation of continuing gains in the east. That does not mean we ignore what is going on the developed west, plus Japan.

Most of the planned bad news on the US banking system is now on the table or at least anticipated, in some form. The stress test requirements for US banks at $75 billion of new capital required are workable, though heavily dilutive. There are legitimate doubts that this will actually be sufficient given …

As the economy begins its comeback, the utilities companies that will benefit the most are the ones whose stock prices have suffered for being located in poor housing markets and those with significant counter-party risk. These companies lack the stability an investor looks for in utilities companies during a time of economic hardship. However, as the economy begins its turn around, these investments will once again become attractive. A company that fits the aforementioned profile is Sempra Energy [SRE: 44.25, -0.57 (-1.27%)], a diversified gas utility company based in Southern California. Sempra has two core utility subsidiaries in Southern California Gas (SoCalGas), the largest gas utility in the United States and San Diego Gas & Electric (SDG&E), which serves 3.4 million customers in the San Diego area. Combined, these two entities comprise 60% of Sempra’s revenue stream. The remaining 40% comes from its natural gas infrastructure businesses, which includes ...

We made a brief trip back to France for a board meeting. Returning to London, people all seemed to be in mourning. Black is the color in London. Everyone wears black. Black pants, black skirts, black coats…

…the cabs are black…and so is the mood.

Last week, the Bank of England and European Central Bank announced new initiatives aimed at putting some brighter colors in the economy. Both banks are going to take up forms of QE – quantitative easing.

Whoa…don’t touch that dial! (A reminder for younger readers: TVs and radios used to have dials, which you turned to change the channel. Announcers would begin with ‘Don’t touch that dial’ when they had something important to say.)

We’re not going to discuss QE – promise!

On Friday, for the benefit of new readers, we were trying to explain The World According to The Daily Reckoning. Today, we continue our explanation –

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Today, The Royal Bank of Scotland Group plc (RBS) posted a first quarter pretax loss of £44 million, compared to £479 million gain in the prior-year quarter, driven by a £2.2 billion increase in impairment losses to £2.9 billion on deteriorating asset quality trends. (All data presented herein is on a pro forma basis, rather than on a statutory basis, as we believe this better represents RBS's operating trends.)Excluding all nonrecurring items, RBS reported pretax profits of £1.97 billion, down 11% from the £2.2 billion earned a year ago. Net revenues rose 41% year over year to £8.9 billion from £6.3 billion, largely due to the very strong trading performance (up 174%) in rates, currencies, and commodities at Global Banking and Markets (GBM).Net interest income declined 3% to £3.4 billion as a 37 basis-point drop in the net interest margin to 1.73% ...

Today in its first quarter trading update, Lloyds Banking Group plc (LYG, or Lloyds) announced that it still expects to post a loss for full-year 2009 (excluding an accounting gain from negative goodwill) on the back of rising loan impairment charges due to continued economic deterioration.Lloyds now expects a 50%-plus increase in corporate impairments, largely from commercial real estate losses in the UK and Ireland, in addition to significantly higher impairments in the retail secured and unsecured loan portfolios.More positively, revenue growth has been solid in Wholesale, reflecting lower investment write-downs, improved trading income in interest rate and currency products, and good transaction volumes in capital markets. This has been supplemented by improvements in Retail, through the addition of one-half million current accounts and increased market share of new mortgage lending. However, sales in the insurance and pension businesses were off 22% on weak ...

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Sources: Treasury considers more mortgage-modification incentives Providing cash payments to holders of second-mortgage liens is among the options being considered by the U.S. Treasury to encourage lenders to modify mortgages as an alternative to foreclosure, sources said. Incentives for “short sales,” in which the lender gets some money but less than the full amount due under the loan, are also being discussed, the sources said. Reuters (21 Apr.)

European, U.S. banks face steep funding needs, IMF says To return to capital levels similar to those immediately before the financial crisis, banks in Europe and the U.S. must raise $875 billion in equity, the International Monetary Fund said. The IMF’s Global Financial Stability Report delves ...

First Russia, then China, now U.N.? Powers of the world move to ditch the dollar …Puru Saxena on why the Fed secretly wants inflation… the more the better…The 5 examines the future of energy… from deep-water drilling to “polywell fusion”… Another government biz on the verge of collapse… one that will affect us all… Plus, some good housing news, maybe… home prices retreat to historic range

“A new global reserve system,” a panel of United Nations economists declared yesterday, “could contribute to global stability, economic strength and global equity.”

We begin with this today not because the U.N. is saying anything revolutionary, but because the global chorus to ditch the dollar is quickly becoming deafening. The Kremlin last week, China’s central bank earlier this week, Tim Geithner yesterday and now this… a U.N. panel led by an American no less.

There is “a growing

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Highlights include 3M Company (MMM), The Royal Bank of Scotland (RBS), Sony Corp. (SNE) and American International Group, Inc. (AIG).Civilians Get Uncivilized Over Financial Malaise in EuropeIn the Wall Street Journal today, it was reported that there have been several incidents of vandalism and other aggravated actions aimed at the high-powered "big-wigs" in Europe -- ranging from bank CEOs to factory management.Recently, workers at a 3M (MMM) factory in Europe held their boss hostage for 24 hours in order to protest planned layoffs. The manager was later released after certain deals regarding employment were met. More notably, a group of hooligans damaged windows and vandalized the car of former Royal Bank of Scotland (RBS) CEO Sir Fred Goodwin.The group who took credit for this act, claiming that "this is just the beginning," is livid over ...

Geithner sends the dollar on a thrill ride…  A failed UK gilt auction…  China set to recover first…  AUD and NZD rally again… And Now… Today’s Pfennig!

Good day… The currency markets took back what little strength the dollar mustered over the past two days with the Euro moving back above popping back above 1.36 and the Australian dollar moving back up over .70. The cause for this dollar weakness? Data released in the US yesterday was surprisingly strong again, so investors dumped the ’safe haven’ holdings of Treasuries and moved money back into higher yielding investments.

At one point yesterday the dollar index dropped precipitously (more than 1.5% in less than 10 minutes), and then bounced back up within a half hour. Jennifer McLean, who takes care of our currency trading while Chuck is away from the desk, said the sudden moves were due to Treasury Secretary Geithner’s comments. Apparently

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