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In his speech yesterday, following the Treasury’s crack down on corporate tax inversions, Obama blamed “poorly designed” laws for allowing illicit money transfers worldwide. Since the speech came at a time when the entire world is still abuzz with the disclosure from the Panama Papers, Obama touched on that as well: “Tax avoidance is a […]Read More

By Dana Lyons of My401kPro.com In terms of global reach, the post-February equity rally has been a fairly broad advance. Some markets, most notably the U.S., have resumed their former relative strength while other regions, like emerging markets and Latin America, have seen strong mean-reversion bounces from very oversold levels, One region conspicuously lagging during […]

Almost exactly one month ago, on March 10,Mario Draghi unveiled his quadruple bazooka, which among other features, included the first ever monetization of corporate bonds (this has unleashed such an unprecedented scramble for European bonds that there are virtually none left in the open market leading to massive illiquidity and forcing yield chasers to sell […]

Submitted by Charles Hugh Smith from Of Two Minds Technologies such as the blockchain are enabling alternative ways of creating and distributing money outside central banks and states. If we don’t change the way money is created and distributed, we will never change anything. This is the core message of my book A Radically Beneficial […]

We may not have the exact numbers yet, but in a filing with the SEC on Tuesday, China’s online retail behemoth Alibaba Group announced that it had “become the largest retail economy in the world” at the end of its fiscal year on March 31, “as measured by gross merchandise volume (GMV) on its China […]Read More

To some gold may not be “money”, but to a group of Greeks it was worth far more than merely pet rocks. According to Ekathimerini, customs officials at the Greek-Turkish border crossing of Kipoi have confiscated the largest amount of gold that anyone has ever attempted to smuggle out of the country. The loot was […]

Residential real estate is a slippery slope for China (especially when this frequently recurring bubble is in its bursting phase) . A critical problem the country is dealing with right now is the fact that it is now confronted with the realization that blind construction spending, building out ghost cities year in and year out, […]

Update: literally seconds ago, when the USDJPY tumbled below 110, we asked “how much longer will Kuroda sustain this battering before Japan is forced to do something even more ridiculous” and we may have gotten the answer when minutes after the USDJPY dipped below 110, some unknown “buying force” emerged out of nowhere and pushed […]

Following yesterday’s API data, which showed the biggest draw of 2016 with a 4.6 million reduction in oil inventories, everyone was keenly looking forward to today’s DOE data. Moments ago the DOE indeed confirmed the API data, reporting that in the past week oil inventories declined by 4.949MM, more than the API print, down from […]Read More

Share on Facebook Tweet on Twitter Ambode (right) Lagos State Governor, Mr. Akinwunmi Ambode, has appealed to Lagosians to bear with the government over the lingering shortage of fuel and power across the state as millions of people spend hours at fuel stations only to leave disappointed. In a statement issued on Wednesday by the […]

Punch GTBank expects further rise in inflation this year:Guaranty Trust Bank Plc says it expects a further rise in inflation to the lower double digits in 2016. DMO to borrow N110bn via bonds:The Debt Management Office has said it will raise N110bn ($553m) in naira-denominated bonds on April 13. Thisday Market Sheds N1.1tn in Three […]

Fidelity recently held a conference call to discuss its FY15 results. Asset quality trends were encouraging despite the NGN1.1bn 4Q15 provision made on its Oando exposure. Asset quality risks are still high going into 2016 but Fidelity’s numbers have shown significant resilience vs its tier 2 peers, most of which have announced profit warnings for […]