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Senate President, Dr. Bukola Saraki, has denied falling out with his party for striking a deal with the PDP to win the senate presidency in June 2015 as alleged by celebrity Ovation Magazine publisher, Dele Momodu. Here’s a copy of Saraki’s reply to Momodu: “My dear brother Dele, let me thank you most sincerely for […]Read More

Federal Government needed 700 million dollars to upgrade its refineries to produce at maximum capacities. Minister of State for Petroleum, Ibe Kachikwu, on Saturday, made this disclosure while speaking with newsmen during the re-inauguration of the Port Harcourt/Bonny Crude Supply Line at the Port Harcourt Refining Company (PHRC), Eleme. Kachikwu said because Nigeria currently does […]

Following his anti-Brexit Op-Ed which sparked much controversy and confusion as to just why the US president was interfering with yet another domestic issue, Obama held a press conference with UK PM David Cameron in which he in no uncertain terms threatened the UK with trade retaliation if the country were to exit the EU. […]

Amid surging supply of crude and the world’s biggest traffic jam of tankers, we suspect more images like the following will be seen going forward. A Russian tanker has caught fire in the Caspian Sea near the territorial waters of Turkmenistan, leaving one dead. The Palflot-2 vessel in distress is currently drifting in Turkmenistan’s territorial […]

It’s not just Halliburton (“What we are experiencing today is far beyond headwinds; it is unsustainable”) and Intel (12,000 layoffs amid re-evaluation of programs) that are facing up to a new normal very different from expectations. As Avondale Asset Management notes, having poured over 100s of earnings transcripts, while most CEOs don’t see signs of […]Read More

Two days after we posted a note by a commodity trader according to whom “What Is Happening Has Absolutely No Reasonable Explanation” late last night we received another warning from a futures trader, one which is applicable to everyone who also trades futures and may be unfamiliar with the recent changes in Nymex and Globex […]

Submitted by Pam Martens and Russ Martens via Wall Street On Parade, According to a study released by the Federal Reserve Bank of New York in March of last year, U.S. taxpayers have already injected $187.5 billion into Fannie Mae and Freddie Mac, two companies that prior to the 2008 financial crash traded on the […]

There is little joy for bulls in David Kostin’s latest weekly kickstart, in which the chief Goldman strategist says that “the S&P 500 has reached our 2016 year-end target of 2100. We expect that the index will remain at this level given tepid US GDP growth, a mixed earnings outlook, and elevated valuation. Corporate repurchases […]Read More

One of the recurring complaints about Donald Trump, if mostly emanating from those whom he is defeating on the campaign trail, is that the Republican presidential front-runner should act more “presidential.” Then, just a few days ago, the WaPo’s Chris Cillizza – one of Trump’s biggest media adversaries who has predicted Trump’s political demise countless […]Read More

As part of his World Apology Tour visit to Britain, President Obama took time to answer questions from London students. When asked about his presidential legacy, Obama said he was proud of the healthcare reforms, and added that: “saving the world from a Great Depression – that was quite good.” Defending the sheer arrogance (and […]

By EconMatters Declining U.S. Production, the Massive drop in RIG Counts, and robust Demand Growth for 2016 are all bullish fundamentals for the Oil Market heading into the Seasonally Strong part of the Demand Curve from a consumption standpoint. [embedded content] Area Last Count Count Change from Prior Count Date of Prior Count Change from […]

Bukola Saraki Nigeria’s Senate President, Mr. Bukola Saraki, on Friday, sacked Mr. Sani Omolori as acting clerk of the National Assembly, recommending that Mr. Benedict Efeturi, who is the Deputy Clerk of the National Assembly, and the most senior civil servant, should have been considered for the position. Senator Isa Galaudu, Chief of Staff to the […]