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The 14-year old Ese Oruru, who was abducted by one Yinusa, who took her to Kano, converted her to Islam and married her, would be united with her family after she is handed over to her mother on Wednesday.  The anguished mother of Ese is currently in Abuja to receive her daughter who had been […]

The governorship election in Lagos in 2015 was won by Akinwunmi Ambode as a replacement for Babatunde Fashola who was leaving office after eight successful years as governor of the state. Fashola, it is known, was a major face during the campaign of Ambode. He followed the candidate of the All Progressives Congress (APC) everywhere […]

Lagos State Governor, Mr. Akinwunmi Ambode, on Wednesday said his government will spare no effort to ensure the safe release of the three female students of Babington Macaulay Junior Seminary School in Ikorodu area of the state, who were kidnapped by a group of armed gang on Monday evening. The Governor in a statement signed […]

Yesterday, there was some confusion as algos and humans tried to explain to themselves why they are buying at such a furious pace that yesterday’s torrid surge resulted in the biggest March 1 S&P500 surge in history. The truth is that there should be no confusion: as we previews, and explained, first thing yesterday, “Gartman […]Read More

After surprisingly jumping in December, ADP’s employment report fell back to a more normal 200k ish level in January and now in Feb it rises once again to 214k (from 193k in Jan – revised down from 205k – and better than expectations of 190k). Manufacturing jobs, according to ADP remain relatively flat for the […]

A massive 7.9 magnitude earthquake has just shaken Indonesia. The USGS initially evaluated to tremor at 8.2 but revised the magnitude down after further investigation.  As CBS notes, “the quake was centered about 500 miles southwest of Indonesia’s Sumatra island in the Indian Ocean, but was shallow at a depth of only about six miles, […]Read More

And the CapEx hits just keep on coming. Two weeks after Goldman reported something troubling, namely that there is a massive gap of nearly 20% between sellside CapEx estimate for what US oil companies will spend on CapEx and what implied guidance suggests as shown in the table below… … moments ago Rex Tillerson, the […]

Via Dana Lyons’ Tumblr, After resolving its former “most interesting” chart status with a massive breakdown in January, Brazil’s Bovespa is back testing that breakdown level in an equally interesting development. On September 4 of last year, we labeled the Brazilian Bovespa stock index “The Most Interesting Chart In The World”. You’ll recall that, at the time, […]Read More

Bail-In Regulation To Blame For “Bank Turmoil” In EU? The Financial Times recently looked at how the new bail-in resolutions in the EU, U.S. and most of the western world and asked whether they may be leading to “bank turmoil” and increased concerns about banks and the banking sector in the EU. As is typically the […]Read More

In a case of supreme poetic justice, the SEC probe into Valeant which was reported on Monday and which led to a 20% plunge in the price the company’s shares and resulted in Pershing Square’s -19.9% performance through the end of February, was started by Valeant itself following its request of an SEC investigation into […]Read More

The US markets are in a quandary. On the one hand, some of the data (GDP growth, unemployment, etc.) suggests the Fed should continue to hike rates. On the other hand, other data points (food stamp usage, labor participation rate) suggest the US never actually entered a real recovery. More importantly, how can the jobs […]

It’s not entirely clear whether Saudi Arabia knew what they were setting in motion when the kingdom moved to deliberately suppress crude prices at the end of 2014. The idea (of course) was to preserve market share by bankrupting the US shale space and if there were “ancillary benefits” – like say forcing Moscow to […]