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MTN Group Ltd’s net income fell 7 percent without the huge fine imposed on it by Nigerian regulator as the company continues to grapple with a weak consumer base stoked by stuttering economy in major markets. The audited financial statement of the South Africa company showed Earnings Before Interest Taxation Depreciation and Amortization (EBITDA) before […]

Champion Breweries Plc ability to pay all debts owed helped the Nigerian beer maker revert to the path of profitability for the first time since at least 2011. The just released Full year 2015 financial results of the company showed the Nigerian brewer posted a profit after tax of N77.14 million as against a loss […]

President Muhammadu Buhari has sent hearty congratulations to former President of Nigeria and elder statesman, Chief Olusegun Obasanjo (GCFR), as he turns 79 years old on 5th March 2016. Buhari pointed out that affirms the former president, who is approaching the octogenarian cycle, has contributed immensely to the institutionalization of democracy in Nigeria and Africa […]

Rivals rip Trump but promise support if he is the nominee (Reuters) Employment gains seen accelerating in February (Reuters) Brazil’s Lula Targeted in Police Raid Into Corruption Scandal (BBG) Economist: For The ECB, It’s No Longer About Oil (BBG) China’s premier says economy faces greater difficulties in 2016 (Reuters) Copper Stockpiles in China Surge to […]Read More

Gold has surged another 4% this week to bring year to date gains to 20% in dollar terms, 19% in euro terms and 24% in sterling terms. We were interviewed by PickingAlpha.com yesterday afternoon and looked at what is currently driving gold prices higher in all currencies.   [embedded content]   The sudden rise of gold […]

The Brazilian Real has soared over 2.5% this morning after the shocking news that former President Luiz Inacio Lula da Silva (Lula) has been detained by the federal police. The long-running inquiry, known as Operation Car Wash, stems from accusations of corruption and money-laundering at Petrobras and police, who raided Lula’s home near Sao Paulo, […]

In half an hour, the BLS will report the February unemployment rate and payrolls number which is expected to print as follows: February jobs exp. 195K (Low 70K, High 245K), Prey. 151K, Dec. 262K Unemployment Rate (Feb) M/M Exp. 4.9% (Low 4.8%, High 5.0%), Prey. 4.9%, Dec. 5.0% Average Hourly Earnings (Feb) M/M Exp. 0.2% […]Read More

If bulls were expecting a February payrolls miss, they did not get it when moments ago the BLS reported that nonfarm payrolls surged by 242K in the past month, smashing expectations of 195K, with the January and December prints both revised higher by 21K and 9K respectively. The unemployment rate at 4.9% printed unchanged from […]

The immediate kneejerk rip in stocks (and bond yields) and dip in gold on the “good” jobs headline rapidly faded as the reality of ugly wage data seeped out. Crude is now notably lower, gold higher, stocks lower, and bond yields rallying back… Initial rip then dip… And gold is now soaring back… As stocks […]Read More

The headline jobs number was certainly good, beating expectations and well higher than last month’s disappointing (and upward revised) 182K print. However, a quick look below the headline reveals an amazing statistic: while we already noted that average hourly earnings posted only their first decline since December 2014, and just the 6th in the past […]

Submitted by Simon Black via SovereignMan.com, Just stunning. German newspaper Der Spiegel reported yesterday that the Bavarian Banking Association has recommended that its member banks start stockpiling PHYSICAL CASH. Europe, of course, has been battling with negative interest rates for quite some time. What this means is that commercial banks are being charged interest for […]

BlackRock’s Gold ETF (IAU) has seen fund inflows every day in 2016 (no outflows at all) and with the stock trading above its NAV for most of the year, the world’s largest asset manager has made a significant decision: *BLACKROCK SAYS ISSUANCE OF GOLD TRUST SHARES SUSPENDED  *BLACKROCK SAYS SUSPENSION DUE TO DEMAND FOR GOLD […]Read More