Archive - Dec 8, 2015
World's Fifth Largest Miner Announces Massive Layoffs, Suspends Dividend, Sells 60% Of Portfolio
Submitted by Tyler Durden on 12/08/2015 07:41 -0500If you're in the commodities business, this is “not the time for courage” (to borrow a classic Gartman-ism). In the latest example of just how bad things have gotten, Anglo American - the world’s fifth largest miner - just kitchen sink-ed it, announcing a sweeping restructuring, a massive round of layoffs, and a dividend cut. The company will reduce its assets by some 60% while headcount will be cut by a whopping 85,000 or, nearly two thirds.
Frontrunning: December 8
Submitted by Tyler Durden on 12/08/2015 07:34 -0500- Argus Research
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- Anti-Trump Effort Launches Super PAC (WSJ)
- Muslims decry Trump's proposal to keep them out of US (AP)
- Debate Heats Up Over No-Fly List, Gun Sales (WSJ)
- OPEC Takes Down Oil Majors as Lower-for-Even-Longer Kicks In (BBG)
- Chinese Companies Are Trapped in IPO Logjam (WSJ)
- Republican Ted Cruz vaults into first place in new Iowa poll (Reuters)
Global Stocks, US Futures Tumble As Emerging Market Turmoil Is Set For A Dramatic Comeback
Submitted by Tyler Durden on 12/08/2015 06:53 -0500- Australia
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Over the weekend, in its latest quarterly presentation, the Bank of International Settlements made what may have been a very premature assessment that China is now contained. Judging by events in the past 24 hours, the reality is anything but.
Record Silver Coin Demand Signals Financial Trouble Ahead
Submitted by Sprott Money on 12/08/2015 05:57 -0500The world doesn’t realize it, but record global silver coin demand is warning that big trouble is coming to the financial system
