admin

There are plenty of legal apps out there. Some are great, but many are a bit meh. I don’t know too many attorneys who need an app to tell them how many days remain between now and their next court appearance. (Most of us know how to use a calendar.) But lawyers do need apps. […]

The director-general of the Pension Transitional Arrangement Directorate (PTAD) of the Federal Ministry of Finance, Nellie Mayshak, has been placed on indefinite suspension. The Cable reports that Mayshak’s suspension is as a result of an alleged scam running into billions of naira which was recently discovered in the Directorate. The PTAD oversees the management of […]

The Swiss Government has confirmed that it has so far returned $723 million (about N142.43 billion) of stolen funds seized from the family of the late former Head of State, General Sani Abacha, to the Nigerian Government over the last 10 years. The amount excludes $321million (about N63.24 billion) which the Swiss authorities recently said […]

At least 22 people were killed on Wednesday morning when two female suicide bombers  attacked a mosque during early morning prayer in Maiduguri, Borno State. The attack occurred at Molai-Umarari village, on the outskirt of Maiduguri. One of the female suicide bombers detonated the bomb inside the mosque while the other waited outside to detonate […]

Coming at the same time as an inflationary report which showed Core CPI rising at 2.30%, or the highest rate since October 2008, and one which will put further pressure on the Fed to hike rates as shelter inflation is now simply too big to sweep under the rug, we also got February’s housing starts […]

One of the more impressive short squeezes in recent history took place in the first two weeks of March, when the stock of distressed Peabody Energy, the largest U.S. coal producer which employs 8,300 workers, exploded higher from just $2.50 per share at the start of the month to a whopping $6.50 just last week. […]

One reason given for the contention that investors should fade Draghi’s latest “package” is that, to quote Deutsche Bank, “we are one hawkish Fed statement away from a re-pricing.” The argument is essentially this: the Fed reminds the market that more rate hikes are still in the cards (even if there isn’t one today), that […]Read More

Following last month’s inflation ‘jolt’ to the marketplace, Core CPI increased 2.3% YoY in Feb – the biggest jump since October 2008 (led by the biggest monthly surge in apparel prices since 2009). Bond & Stock markets are dropping in the news as it corners The Fed further into a hawkish stance, despite the recessionary […]Read More

The current decline in US manufacturing would be the first time since 1952 that Industrial Production has declined for four straight months without the US economy not being in recession. A worse-then-expected 0.5% MoM plunge – near the worst since 2009, led to a 1.0% drop YoY, the 4th monthly decline… Another data point to […]

Two days ago, courtesy of Bloomberg, we outlined how the (extremely perturbed and after Tuesday completely decimated) GOP establishment would go about stealing the Republican nomination from Donald Trump. “Although everyone now jokes about just how unstoppable the Trump ‘juggernaut’ has become, the establishment isn’t called ‘the establishment,’ for nothing,” we said. “Trump may have […]Read More

When one eliminates all the noise, the Valeant story was very simple and boiled down to two simple things: a debt-funded rollup which needed a constant influx of new acqusitions to grow non-GAAP earnings faster than the rate at which its debt was growing (while maintaining a low cost of debt low), and a sellside […]

For the 7th week in a row, Cushing inventories saw a build (+545k) pushing to new record high stockpiles but that was offset by a smaller-than-expected build in overall crude (+1.3m vs +3.2m and less than API overnight). Smaller-than-expected draws in Gasoline and Distillates are helping to fade the early gains in crude. DOE *CRUDE […]