Nuclear Power

Toshiba Falls By Limit 20%, CDS Soar By Most On Record As Full Extent Of Damage Revealed

One day after Toshiba's new CEO, Satoshi Tsunakawa, pulled a page from the book of his ill-fated predecessor Hisao Tanaka who presided over the biggest accounting fraud scandal in the company's history, and bowed down during a press conference to apologize to investors, the company's stock crashed by the limit 20%, bringing its two day loss to 32% and wiping out $5 billion in market cap in two days.

Frontrunning: December 14

  • Countdown to first Fed hike in a year under way, but focus shifting to 2017 (Reuters)
  • What to Expect From the Fed: Decision-Day Guide (BBG)
  • Investors Expect Fed Rate Rise, Seek Clues on Next Step (WSJ)
  • What ceasefire? Aleppo evacuation delayed (Reuters); Aleppo Fighting Resumes Hours After Cease-Fire Deal (WSJ)
  • Too big to fail: China maps out its Trump strategy (Reuters)

Rick Perry Is Trump's Top Pick To Head Energy Department

Which is ironic because five years ago, Perry wanted to eliminate the Energy Department: in an infamous 2011 Republican primary debate, Perry forgot that the Energy Department was one of the three federal government agencies he wanted to do away with. The other two were the Commerce and Education Departments. According to some pundits, the gaffe may have cost him a shot at the party’s 2012 nomination.

Trump Memo Reveals Plans For Massive Shake-Up At Energy Department

Hinting at a broad shake-up at the Energy Department, Trump's team has submitted a list of 65 questions requesting information on everything from how to keep aging nuclear plants online to a list of employees and contractors that attended the United Nations climate meetings

Frontrunning: December 9

  • Futures rise as 'Trump rally' rolls on (Reuters), Oil Advances as European Stocks Extend Gains; Korean Won Slides (BBG)
  • Syrian government forces press attack in east Aleppo (Reuters)
  • Trump: China Will Have to ‘Play by the Rules’ (BBG)
  • Trump’s Cabinet Picks Signal Coming Deregulation Moves (WSJ)
  • Russia’s Military Buildup on the Baltic to Test Trump on NATO (WSJ)
  • OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles (BBG)

S&P Set To Open At All Time High, Boosted By Rising Crude On More "OPEC Deal Optimism"

European and Asian stocks rose after the early scare from the latest Fukushima quake dissipated, with the global risk on mood spurred by another jump in crude, which was up 1% in early trading, with the commodity complex now enjoying its biggest three-day rally since May, after Nigeria signaled optimism that OPEC will agree a supply-cut deal next week in Vienna. S&P futures are up 0.3%, with the cash index set to open at new record highs.

Frontrunning: November 21

  • Dollar dips, stocks fall as Trumpflation trade pauses (Reuters)
  • A profile of RenTec's Medallion fund: Inside a Moneymaking Machine Like No Other (BBG)
  • Mattis, Christie, Giuliani in contention for top posts (Reuters)
  • Paulson’s Big Long: A Bet on Trump Yields Power and Profit (BBG)
  • Ex-PM Fillon is favorite to win French conservative presidential ticket (Reuters)
  • In weekend of deliberation, Mattis favored for Trump Pentagon chief (Reuters)

German Lawmaker Pushes For European Nuclear Deterrence Plan

With both NATO and Europe suddenly unsure of what a radical foreign policy by the Trump administration could mean for NATO funding and European joint defense, a senior member of Chancellor Angela Merkel's conservatives said that Europe needs to think about developing its own nuclear deterrent strategy given concerns that U.S. President-elect Donald Trump could scale back U.S. military commitments in Europe.

Fed's Kashkari Releases Plan To End "Too Big To Fail", Compares Banks To Terrorists

In the latest reminder that 7 years after the financial crisis, the US banking system still remains a systemic risk, Minneapolis Fed President Neel Kashkari today released four-step plan to end too-big-to-fail problem. The reason for the proposal: America's "biggest banks continue to pose a significant, ongoing risk to our economy" and "One analogy that helps highlight the trade-off of costs and benefits is the risk of terrorism."