This page has been archived and commenting is disabled.

Tyler Durden's picture

Exxon Earnings: Carnage





Moments ago energy titan Exxon Mobile, which not too long ago was bigger than AAPL by market cap, and is now roughly half the size of the phone maker, reported earnings which were, in a word, a bloodbath.

 
Tyler Durden's picture

Deutsche Bank "Loses" LIBOR Chat Records; Will Try Hard To Find Them





Deutsche Bank says a "software glitch" caused an "unknown" number of electronic chats dating back to 2005 to be deleted (possibly forever), a "mistake" that could endanger the bank's record $2.5 billion LIBOR settlement with regulators. 

 
Tyler Durden's picture

Frontrunning: July 31





  • U.S. stock futures slip amid lukewarm earnings, fall in commodities (Reuters)
  • Stressful times for low-polling Republicans who may miss debate stage (Reuters)
  • Trump shows staying power with surge ahead of first debate (Reuters)
  • China Market Manipulation Probe Targets Spoofers After Crash (BBG)
  • Beijing Chosen to Host 2022 Winter Olympics (WSJ)
  • Obama Warns Support on Iran Deal ’Getting Squishy’ Amid Pressure (BBG)
  • Pacific trade negotiators chase elusive final deal in tough talks (Reuters)
 
Tyler Durden's picture

Italy Youth Unemployment Hits Record High 44.2%, Concerns Rising "Recession Exit May Be Unsustainable"





While the overall unemployment rate for the Eurozone also unchanged at 11.1%, it was renewed concern about what is going on in Italy, where unemployment rose from 12.5% to 12.7%, while Italy's youth unemployment rate, which surprisingly jumped by nearly 2% to 44.2%, a record level.  As Bloomberg put it, "Italy’s jobless rate unexpectedly rose in June as businesses continue to dismiss workers amid concerns that the country’s exit from recession may not be sustainable."

 
Tyler Durden's picture

Chinese Stocks Drop, End Worst Month Since August 2009; US Equity Futures Flat





In a repeat of Thursday's action, Chinese stocks which had opened about 1% lower, remained underwater for most of the session before attempting a feeble bounce which took the Shanghai Composite fractionally into the green, before the now traditional last hour action which this time failed to maintain the upward momentum and the last day of the month saw a surge in volume which dragged the market to its lows before closing roughly where it opened, -1.13% lower.  This caps the worst month for Chinese stocks since since August 2009, as the government struggles to rekindle investor interest amid a $3.5 trillion rout, one which has sent the Shanghai market lower by 15% - the biggest loss among 93 global benchmark gauges tracked by Bloomberg.

 
Tyler Durden's picture

Donald Trump's Soaring Popularity "Is The Country's Collective Middle Finger To Washington"





Donald Trump’s ascendance as the early GOP front-runner is symbolic of a greater global trend: growing pushback against institutional political and economic power.

 
Tyler Durden's picture

Secret Memo Reveals US Was Aware Of Americans Killing Zimbabwe Lions; Only Concern Was Getting Caught





"One safari operator accused an American, by name, of killing a lion illegally and then smuggling its hide out through South Africa.  Given the rampant smuggling of other animal products across Zimbabwe's southern border (reftel), this is not unlikely.  As reported in reftel, American hunting dollars are vital to Zimbabwe's conservation efforts, but there are also serious risks that Americans could be implicated in smuggling and poaching operations."

 
Tyler Durden's picture

Debt Slaves: 7 Out Of 10 Americans Believe That Debt "Is A Necessity In Their Lives"





Could you live without debt? Most Americans say that they cannot. According to a brand new Pew survey, approximately 7 out of every 10 Americans believe that “debt is a necessity in their lives”, and approximately 8 out of every 10 Americans actually have debt right now. Most of us like to think that “someday” we will get out of the hole and quit being debt slaves, but very few of us ever actually accomplish this. That is because the entire system is designed to trap us in debt before we even get out into the “real world” and keep us in debt until we die. Sadly, most Americans don’t even realize what is being done to them.

 
Tyler Durden's picture

Why Do So Many Working Age Americans Choose Not To Enter The Workforce?





You could call it the "Mystery of the Missing Worker" – why do so many people of working age chose not to enter the workforce? Here are the numbers, as of the most recent Employment Situation report: 250 million: the total number of people of working age in the United States; 149 million: the total number of people in that population that have a job; 8 million: the number of people who want a job but do not have one; leaving 93 million: the number of people who don’t work, and don’t want work. To put some context around that last number, it is 30% of the entire U.S. population. Why?

 
Tyler Durden's picture

Chinese Stocks Extend Yesterday's Plunge Despite Regulators "Asking" Insurers To Stop "Net Sales"





Following last night's afternoon session plungefest (with ChiNext's biggest drop in a month), as it appeared the government experimented with 'free' markets briefly, regulators have "asked" insurance companies to be "net sellers" of stocks going forward. With margin debt dropping for the 4th day in a row (to fresh 4-month lows), Markit noted that accusations of foreigners short selling shares is “overblown” by Chinese market regulators and not the cause of a recent rout in the stock market, according to the SCMP. The requests and threats appear to not be working as CSI-300 futures open down 0.7%.

 
Tyler Durden's picture

"Greed Is King" - What We Learned Talking To Chinese Stock Investors





During a short stay in Shanghai a few weeks ago on unrelated business, we had an opportunity to witness the ground zero of the China market frenzy at its peak and its nascent plunge. Chinese retail investors make up 85% of the market, a far cry from the U.S. where retail investors own less than 30% of equities and make up less than 2% of NYSE trading volume for listed firms in 2009. Combined with the highest trading frequencies in the world and one of the lowest educational levels, describing China’s market as immature is an understatement.

 
Tyler Durden's picture

Brazil's Economy Slides Into Depression, And Now Olympians Will Be Swimming In Feces





Athletes in next year's Summer Olympics here will be swimming and boating in waters so contaminated with human feces that they risk becoming violently ill and unable to compete in the games. An AP analysis of water quality revealed dangerously high levels of viruses and bacteria from human sewage in Olympic and Paralympic venues — results that alarmed international experts and dismayed competitors training in Rio, some of whom have already fallen ill with fevers, vomiting and diarrhea.

 
Tyler Durden's picture

Now It's Personal: Koch Brothers "Freeze Out" Donald Trump





With everyone asking 'what can derail this?', perhaps, there is something. As Politico reports, the massively influential Koch brothers are freezing out Donald Trump from their influential political operation - denying him access to their state-of-the-art data and refusing to let him speak to their gatherings of grass-roots activists or major donors.

 
Tyler Durden's picture

China Says US "Militarization" Of South China Sea Shows Washington "Wants Nothing Better Than Chaos"





"China is extremely concerned at the United States' pushing of the militarization of the South China Sea region. "What they are doing can't help but make people wonder whether they want nothing better than chaos."

 
Tyler Durden's picture

Least Transparent Ever: IRS Used "Wholly Separate" Message System To Hide Communications





Lerner then asks whether OCS is automatically archived. When informed it was not, Lerner responded “Perfect.”

 
Do NOT follow this link or you will be banned from the site!