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After being on strike for 30 days, labour leaders in Ekiti have reached an agreement with the state government to return to work. The workers had on May 25, embarked on a strike in protest against the five months salary arrears they are owed and other issues. During a meeting of both parties, it was […]

President Muhammadu Buhari on Friday urged Niger Delta militants to soft pedal on the bombing and destruction of oil and gas installations. He made the call during the breaking of fast with All Progressives Congress (APC) leadership at the Presidential Villa, Abuja. The President also urged those closed to the militants to prevail on them […]

The Nigerian Army has said that the Chief of Army Staff, Lieutenant General Tukur Buratai declared his  properties in Dubai and has done nothing wrong in owning them. The army made the declaration in reaction  to a media report that the Buratai acquired the properties illegally.  Acting Director Army Public Relations, Colonel Sani Usman, said […]

President Muhammadu Buhari says Nigeria is paying dearly for incompetence in managing high revenue that accrued from oil, particularly over the past decade, and for allowing the decay of critical infrastructure. Speaking at the State House, Abuja, Monday, while receiving the Chief Global CEO of Unilever, Mr Paul Polman, the President said his administration is […]

If anyone needs another confirmation that the European Union is fundamentally the most anti-democratic entity currently in existence, then the following statement by European Parliament Martin Schultz should put all confusion to rest. Schulz: “The British have violated the rules. It is not the EU philosophy that the crowd can decide its fate“. Schulz: “The […]

On Friday afternoon, after the shocking Brexit referendum, while being interviewed by CNBC Alan Greenspan stunned his hosts when he said that things are about as bad as he has ever seen. “This is the worst period, I recall since I’ve been in public service. There’s nothing like it, including the crisis — remember October […]Read More

The list of SolarCity directors who will vote on Tesla’s $2.86 billion bid is getting shorter, as Bloomberg reports two more directors have recused themselves, as the incestuously deep connections between the two companies create clear potential conflicts of interest, according to analysts and experts in governance issues. A few of the directors are related […]

The last leader of the Soviet Union, Mikhail Gorbachev, previously said: The most puzzling development in politics during the last decade is the apparent determination of Western European leaders to re-create the Soviet Union in Western Europe. And in the wake of Brexit, today’s Kremlin said much the same thing: It’s obvious that the U.K. […]Read More

It is well known that Chicago’s pension liabilities have completely decimated the city’s finances and currently stand at close to $20 billion. Faced with a significant challenge of meeting funding obligations as a result of a 2010 state law, Mayor Rahm Emanuel recently won a slight reprieve in the amount of money the city would […]

The US Treasury yield curve has collapsed to its flattest since Nov 2007… just before the US economy officially slumped into recession…  “There can’t be a recession… the yield curve is not inverted…” Perhaps US banks are starting to realize the inevitable also? Charts: Bloomberg

“You silly sod, you got us all worked up over a little [Brexit]…” [embedded content] European bank stocks were a bloodbath…Worst.Drop.Ever… But US Financials were not immune, catching down to Treasuries’ reality… US Financials are down the most since Summer 2011’s US Downgrade… Citi, BofA, and MS all spanked with GS outperforming JPM… but still […]Read More

Submitted by Howard Kunstler via Kunstler.com, Wait a minute. They’re already dead. Brexit just reveals that not everybody’s brains have been eaten. A viral contagion now threatens the zombified institutions of daily life, especially the workings of politics and finance. Just as zombies exist only in the collective imagination, so do these two principal activities […]Read More