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You will recall that on Wednesday, July 20, 2016, Hon. Abdulmumin Jibrin was removed from his position as Chairman of the House Committee on Appropriations and replaced by Hon. Mustapha Bala Dawaki. This was done in exercise of the powers conferred on Mr. Speaker by the House Rules to appoint and remove Committee Chairmen and […]

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After beating on revenues and earnings despite a steep drop in both revenues and iPhone orders and projecting a third consecutive quarter of declining profits, Apple is up nearly 8% pre-market as traders clearly liked what Tim Cook did in the quarter. The company helped during the conference call, when the CFO said iPhone SE […]

Via MiddleEastEye.net, More than 3,000 migrants and refugees have died while trying to cross the Mediterranean this year, while nearly 250,000 have made the journey to Europe, the International Organisation for Migration has said. The new toll was reached following the discovery of 39 bodies washed up on the coast of Libya, bringing the current […]

After 21 straight days of economic imporvements, today’s dismal durable goods orders appears enough to prompt ‘the QE trade’ as bonds, stocks, and bullion surge (and dollar drops). Silver just spiked to $20… Silver broke major downtrend… And Gold is surging on heavy volume…

China’s burgeoning problem with its ponzi-like wealth management product or WMP, industry, is nothing new: we presented a comprehensive summary one year ago in “The 8 Trillion Black Swan: Is China’s Shadow Banking System About To Collapse?” For those unfamiliar, the outstanding value of WMPs, widely expected to be a major source of future systemic […]Read More

One day after Russia’s foreign minister Sergey Lavrov gave the first Russian response to allegations that Moscow was behind the DNC server hack when he said “I don’t want to use four letter words” to a media question if Putin was responsible,  on  Wednesday the Kremlin reiterated Russia’s position when it dismissed allegations Russia had […]Read More

Following New Home Sales rebound to their highest since 2008, amid record high prices, Pending Home Sales disappointed with a mere 0.2% MoM rise (versus +1.2% expectations) showing very little bounce off May’s tumble. Northeast sales saved the day with a 3.2% surge but The South and West both continued to slide. As NAR’s Larry […]Read More

34 years after trying to assasinate Ronald Reagan in 1981, John Hinckley, Jr will be released from a psychiatric hospital and allowed to live with his mother in Virginia. On Wednesday, a federal judge granted John Hinckley, Jr., the man who shot President Ronald Reagan, full-time release from St. Elizabeth’s Hospital in Washington, D.C., where […]

Despite last night’s API-reported surge in Cushing inventories, oil futures surged into this morning’s DOE data on the heels of terrible durable goods data. However, a shocking build in overall crude levels (+1.67mm vs -2mm) breaking crude’s record 9-week streak of draws, sent crude prices reeling. Cushing also saw a major build as did Gasoline […]Read More

According to German media Bayerischer Rundfunk, moments ago an explosion took place in the town of Zirndorf near the northern Bavarian city of Nurenberg.  Bayerischer Rundfunk adds reporting that a suitcase filled with various cans exploded about 200 meters away from the local refugee center. Focus.de adds that emergency personnel are on site, citing local […]

GlaxoSmithKline Consumer Goods Nigeria Plc has announced the declaration of a special dividend of 60 Kobo per share to shareholders. The special dividend was approved by the company’s shareholders during the extra-ordinary general meeting held on Monday, July 4, 2016 on the disposal of the company’s drinks business (Lucozade and Ribena brands) to Suntory Beverage […]