Archive - Story
May 2nd, 2016
- Puerto Rico Development Bank Won’t Make Most of a Debt Payment Monday (WSJ)
- Why the jump in futures? Tokyo slide keeps mood downbeat (Reuters)
- Indiana to test Donald Trump’s staying power with evangelicals (Reuters)
- Gold Rallies Above $1,300 for First Time Since January 2015 (BBG)
- This Tech Bubble Is Bursting (WSJ)
After Failed Halliburton Deal, Baker Hughes Unveils "Path For The Future" Including $2.5BN Stock, Bond BuybackSubmitted by Tyler Durden on 05/02/2016 07:21 -0400
While it wasn't exactly breaking news, with consensus having long ago decided that Halliburton and Baker Hughes would ultimately call off their ill-timed $28 billion merger announced in late 2014 following recurring media leaks, overnight the two companies officially ended speculation when they announced that the contested merger would be called off, resulting in a $3.5 billion termination fee payable to Baker Hughes. And with its immediate future somewhat in limbo, moments ago Baker Hughes outlined its "path for the future."
In what may be the biggest "self-outing" in years, overnight Australian entrepreneur Craig Wright has publicly identified himself as Bitcoin creator Satoshi Nakamoto, revealing his identity to three media organizations - the BBC, the Economist and GQ. His admission ends years of speculation about who came up with the original ideas underlying the digital cash system.
There has been a bevy of negative news in the past 48 hours which perhaps explains why futures are fractionally in the green as of this moment.
Update: PR Governor Padilla has spoken...*PUERTO RICO GOVERNOR SAYS WON'T PAY DEBT TOMORROW, CALLS ON U.S. CONGRESS, PAUL RYAN FOR HELP, CRISIS WILL GET WORSE IF U.S. CONGRESS DOESN'T HELP
Presented with no comment...
Seymour Hersh has reported that the Obama Administration falsely blamed the government of Syria’s Bashar al-Assad for the sarin gas attack that Obama was trying to use as an excuse to invade Syria, exposing that a secret agreement in 2012 was reached between the Obama Administration and the leaders of Turkey, Saudi Arabia, and Qatar, to set up a sarin gas attack and blame it on Assad so that the US could invade and overthrow Assad. Notably, multiple reports suggest the US Consulate in Benghazi Libya was operating a "rat line" for Gaddafi’s captured weapons into Syria through Turkey; and now, for the first time, Hersh has implicated Hillary Clinton directly in this "rat line."
The latest mega data leak which hit the Qatar NationL Bank last week contains hundreds of thousands of records including customer transaction logs, personal identification numbers and credit card data. Additionally, dozens of separate folders consist of information on everything from Al Jazeera journalists to what appears to be the Al-Thani Qatar Royal Family and even contains a slew of records listed as Ministry of Defence, MI6 (the UK foreign intelligence service) and Qatar's State Security Bureau, also known as "Mukhabarat".
...and now the fun really begins...
"Get Out Traitor" - German Justice Minister Flees In Armored Mercedes After Angry Protesters Boo Him OffstageSubmitted by Tyler Durden on 05/01/2016 20:40 -0400
Heiko Maas, the German Minister of Justice, was unable to finish his Labor Day celebration speech on the 1st of May as he was loudly booed and chased off the stage by the German people. The people repeatedly shouted "Traitor", "Leftist Rat", "Get out!", "We are the People" and "Maas must go!", eventually getting him to cancel his speech and flee to his armored Mercedes escorted by his armed bodyguards.
"It is becoming increasingly clear to us that the level of yields at which credit expansion in Europe and Japan will pick up in earnest is probably negative, and substantially so. Therefore, the ECB and BoJ should move more strongly toward penalizing savings via negative retail deposit rates or perhaps wealth taxes. With this stick would also come a carrot – for example, negative mortgage rates."
From here, we expect Abadi to face more calls to resign to pave the way for fresh elections. On balance, those calls will be narrowly dismissed, not because Abadi has any political capital left to appoint a new cabinet, but because a dearth of consensus over who’d replace him. Iran is more than happy to keep Abadi in post to bring Iraq to its knees, while the US won’t want the horrifying nightmare of orchestrating an Iraqi election before US Presidential elections are out the way. Fall short on the 2018 dates, and you’ll merely highlight the ingrained presence ISIS still has in Iraq, amid inexorable state collapse.
Deutsche Bank Has Systemic Money Laundering, Terrorist Financing And Sanctions Problems: UK RegulatorSubmitted by Tyler Durden on 05/01/2016 20:01 -0400
"Our overall conclusion was that Deutsche Bank UK had serious AML (anti-money laundering), terrorist financing and sanctions failings which were systemic in nature," the FCA said in a recent letter. Deutsche Bank's response? To fire the man it tasked with enforcing "business ethics."