In one of its first steps towards creating an unconstrained economy, the State of Texas has decided to setup its own gold-backed bank.

The decision comes in the wake of Governor Greg Abbott’s decision to repatriate $1 billion worth of state’s gold from an underground vault in New York. The republican plans to store this gold in a ‘yet-to-be-built’ facility, a step that will circumscribe taxpayers’ money from leaving Texas and will further circumvent the controversial Federal Reserve System.

This means thats the Texans will be able to conduct gold-backed transactions to pay for goods and services, and will further be exempted from paying fees to store gold outside their state. The government, on the other hand, will be able to objectively secure and stabilize their commodity reserves.

BEIJING, July 27 (Xinhua) -- U.S.-based Delta Air Lines bought 3.55 percent of shares of China Eastern Airlines worth 450 million U.S. dollars on Monday.

The investment is part of a series of cooperation agreements signed by the two airlines, which both belong to SkyTeam Alliance.

"Delta's investment will help us promote mixed ownership and speed up our overseas expansion," said Liu Shaoyong, chairman of China Eastern Airlines.

China is the second-largest market for travel to the United States and is expected to take the lead in the next few years, according to Richard Anderson, CEO of Delta Air Lines.

The two airlines have signed codeshare agreements to operate 30 U.S. domestic flights, 43 Chinese domestic flights and seven trans-Pacific flights.

dow down 1000 points on opening,

Why does Centum require one to put his name,email address and Cellphone number to download annual report from the website.
Is it even legal;this reports are supposed to be easily downloadable without quoting personal details

How Low Can Oil Go? Goldman Says $20 a Barrel Is a Possibility

The global surplus of oil is even bigger than Goldman Sachs Group Inc. thought and that could drive prices as low as $20 a barrel.

... The International Energy Agency predicted that crude stockpiles will diminish in the second half of next year as supply outside OPEC declines by the most since 1992.
“The oil market is even more oversupplied than we had expected and we now forecast this surplus to persist in 2016,” Goldman analysts including Damien Courvalin wrote in the report. “We continue to view U.S. shale as the likely near-term source of supply adjustment.”

Saudi Arabia, Iraq and Iran will drive supply growth from OPEC, Goldman said. The group, which supplies about 40 percent of the world’s crude, has produced above its 30-million-barrel-a-day quota for the past 15 months.
Iranian Oil Minister Bijan Namdar Zanganeh has vowed to increase output by 1 million barrels a day once sanctions are removed as the nation seeks to regain market share.