Bombardier Thanks Canada For $1 Billion Bailout By Firing 7,000 People
Back in October, Quebec put taxpayers on the hook for a $1 billion bailout of planemaker Bombardier, which was having one hell of a hard time creating a buzz around…
Downturn Now Hitting The Refining Sector
Submitted by Michael McDonald of OilPrice Downturn Now Hitting The Refining Sector As all energy investors know, it has been a terrible year for oil and natural gas companies. Many…
Stocks Have Taken Out Critical Support… Prepare Now!
One of the most critical lines to watch is the 12-month moving average for stocks. Historically this line has served well as a proxy for determining if stocks were in…
Tim Cook Refuses To Comply With “Chilling” Government Demand To “Build A Backdoor” Into iPhone
Following the December 2 horrific mass shooting in San Benardino, Judge Sheri Pym of U.S. District Court in Los Angeles said on Tuesday that Apple must provide “reasonable technical assistance”…
Core Inflation Spikes Most In 15 Months, Food Costs Surge
Producer Prices (ex food and energy) jumped 0.4% MoM – the biggest rise since Oct 2014 (and dramatically hotter than the 0.1% rise expected). Rubbing salt into Fed mandate wounds…
Housing Starts, Permits Drop For Second Month As Homebuilding Activity Remains Far Below Prior Peak
Today’s batch of housing data, namely the January update of housing starts and permits, which as a reminder has a quite substantial “confidence interval” of between 10.5% and 28.3%, was…
Morgan Stanley Admits “Our Advice Has Been Horrendous”, Blames “Bizarro World”
While we have generally disagreed with Morgan Stanley’s Adam Parker flipflopping on stocks some two years ago, or just as the market was topping out, we can’t find fault with…
Industrial Production Post Third Consecutive Annual Decline: 90% Chance Of Recession
In 17 of the 19 times in the last 100 years that Industrial Production has contracted for 3 consecutive months, the US economy has entered recession. Today 0.7% drop YoY…
Oil Tumbles Under $30 As Iran Refuses Doha Proposal, Goldman Warns “Freeze Doesn’t Help”
Oil prices limped higher overnight in their ubiquitous carry-driven way, only to tumble quickly this morning as the reality that, as Goldman says “at record levels, this production freeze doesn’t…
This Is How NNPC Wants To Pay Its $4 Billion Debt And Finance New Drilling
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu said the Nigerian National Petroleum Corporation (NNPC) has commenced discussion with oil majors and banks to raise capital for new…