World stocks slide over trade tensions, German politics

SINGAPORE — Global stocks dropped Monday on concerns over trade as the U.S. and China scheduled the start of tariffs on each other’s goods, and a row over migrants threatened the German government. Markets in China and Hong Kong were closed for a holiday.

KEEPING SCORE: Germany’s DAX lost 1.3 percent to 12,839 and France’s CAC 40 shed 1.2 percent to 5,433. Britain’s FTSE 100 dipped 0.4 percent to 7,605. Wall Street was poised to open lower. Dow futures dropped 0.7 percent and the S&P 500 futures were down 0.6 percent.

U.S.-CHINA TARIFFS: Tariffs mooted by the world’s two biggest economies are set to take effect from July 6, bolstering fears of a trade war. President Donald Trump has announced a 25 percent tariff on up to $50 billion of Chinese products. China is retaliating by raising import duties on $34 billion worth of American goods, including soybeans, electric cars and whiskey.

THE QUOTE: “Caution appears to be the key word for Asian markets today as investors digest the potential implications of the U.S.-China tit-for-tat tariff measures,” said Selena Ling, chief economist at OCBC Bank.

DISPUTE IN GERMANY: Chancellor Angela Merkel’s Bavarian allies are tangled in a dispute with the German leader over migration, a conflict that could escalate into a threat to her government. Interior Minister Horst Seehofer, who heads the Bavaria-only Christian Social Union, wants Germany to refuse migrants who were previously registered as asylum-seekers in other European countries. Merkel opposes unilateral action, arguing that it would weaken the 28-nation European Union. A CSU leadership meeting on Monday will likely authorize Seehofer to go ahead with his plan.

ASIA’S DAY: Japan’s benchmark Nikkei 225 index dropped 0.8 percent to close at 22,680.33. South Korea’s Kospi lost 1.2 percent to 2,376.24. Australia’s S&P/ASX 200 gained 0.2 percent to 6,104.10. Southeast Asian indexes were mostly …read more

Source:: Deseret News – Business News

Returned missionary brings a piece of Thailand to Provo with Fish Kiss Spa

PROVO — A sidewalk in Utah County is an ocean away from where Jameson Tanner spent two years of his life.

“It was totally different to say the least, but it was the best thing that ever happened to me,” he said, reflecting on his LDS mission while standing in the sun outside his business in Provo. “My dad actually served his mission in Thailand 30 years earlier.”

The country hooked Tanner — and when he returned home, he couldn’t wait to reel in a couple of high school friends. He soon returned to Thailand on vacation, along with William Wright and Porter Willis. The school of three quickly waded into the culture that had such a powerful impact on Tanner.

What they encountered saturated their minds. They took a canal of inspiration, and used it to catch a career.

“The first reaction is the best part,” Tanner said, gesturing to a customer about to plunge her feet into an aquarium.

The three friends founded Fish Kiss Spa, a place that invites fish to chew away dead skin from the feet of their clients — a taste of Thailand, right in the heart of Utah County.

“When I first saw it, it was like ‘What exactly happens?'” Tanner said, reflecting back on his first experience spotting the practice in Thailand. “I saw a video of a friend doing it, and I was thinking ‘He must be crazy, what is he thinking?’ All the little fish came and started nibbling his skin, and I thought ‘Does it hurt? He’s laughing, it must be ticklish.'”

“We don’t know who said it first,” Willis said. “We all just kind of had the idea together. As soon as we did it, we brought some other friends with us. We wanted them to try it immediately after.”

“We got to thinking, if …read more

Source:: Deseret News – Business News

Turning Utah’s rocks into liquid gold

VERNAL — South of here on a barren hillside full of craggy rocks, the eyes of oil men are glistening with hope.

A geologist is in awe, at home in this playground of sandstone rocks that are full of a sticky semi-solid petroleum substance called bitumen.

They are pulling this bitumen from the rock and transforming it into heavy oil that is low in sulfur, contains no paraffin and is low in heavy metals like nickel and vanadium. That oil can then be turned into diesel, kerosene or jet fuel or mixed with lighter oils.

By the end of this year, Petroteq Energy aims to be producing 1,000 barrels of oil per day. By 2019, the goal is 2,000 barrels per day.

The market is right and the process is proven, said Chief Executive Officer David Sealock, a 30-year oil man who cut his teeth with Chevron and has worked all over the globe.

A demonstration project in 2015 at Maeser, Uintah County, met company objectives and the state requirements to prove viability with production of 10,000 barrels.

At a media tour of this mining site off state Route 45, the Bonanza Highway, Sealock explains the compelling potential of pulling 86 million barrels of oil out of the rock over a two-decade span on Asphalt Ridge.

“Everything starts with geology in the energy world,” he said. “It is tremendous what we can do in two decades.”

Utah’s oil sand deposits are the largest in the United States, holding 14 to 15 billion barrels of oil in place, according to the Utah Geological Survey.

Unlike a conventional oil field with wells that go thousands of feet underground, this extraction process is above ground with rocks that are weeping the black gooey substance.

At this site, there’s no overburden — waste rock — to worry about and no need for tailings ponds.

“There …read more

Source:: Deseret News – Business News

About Utah: They came to Alta to be ski bums. Now they stay for the summer and Restoration Day

ALTA — Maura Olivos came to this ski town 16 years ago because Greg, her boyfriend/husband-to-be, had a goal of being a ski bum and he couldn’t think of anywhere on Earth he’d rather live out his dream.

Little did Olivos know, she was coming to her own kind of paradise, too.

Olivos is an ecologist. She loves plants. At Alta, the crown that sits atop Little Cottonwood Canyon, she landed smack in the middle of one of the planet’s most beautiful mountain landscapes – with a dizzying diversity of native shrubs, plants and flowers unrivaled anywhere this side of the rainforest.

It took her awhile to make the discovery, though. For her first few years in Utah, she worked in the ski area’s ticket office during the winter and as soon as the snow stopped falling, she traveled to other parts of the country to work as an ecologist, putting to use the degree in environmental science she got at Unity College in Maine.

But then, in 2007, she finally spent the summer at Alta – and saw what she’d been missing.

“We’d loved Alta from the start, we loved the skiing, we loved the culture,” recalls Olivos. “But it wasn’t until that summer (of 2007) that I saw the full picture of Alta.”

Things happened fast after that. In 2008 the ski area opened the Alta Environmental Center and in May 2009, when it dawned on everyone that the best place for a world-class ecologist probably wasn’t selling lift tickets, Olivos was named director of the center and given the title of sustainability coordinator.

A place long noted for its conservation efforts – where remnants of the old mining town are nary to be seen – upped the ante even more.

Among Olivos’ many brainstorms is Alta Restoration Day.

The first one was organized by her in …read more

Source:: Deseret News – Business News