Crude-by-Rail (CBR) has been a savior for North American producers seeking higher returns for heavily discounted crudes caused by a lack of pipeline take-away capacity. But...
While not confirming that it was advising Elon Musk when he tweeted that they were, Goldman Sachs has moved Tesla to "not rated" because it is "acting as a financial advisor" to the company.
Tesla board of directors announced it had formed a special committee comprised of three independent directors to evaluate a potential going private offer - assuming there is one - disclosed by Elon Musk.
"I’m excited to work with Silver Lake and Goldman Sachs as financial advisors, plus Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors, on the proposal to take Tesla private."
The loss of hundreds of billions of assets recently considered liquid by global financial institutions, through the de facto debt moratorium of capital controls, will be a huge shock to the global financial system.
Despite the latest stronger than expected China credit data, China still has a long way to go to: the latest data showed that China's credit impulse is still negative and remains at the lowest level it has been in two years.
America’s long-term “balance sheet numbers” just continue to get progressively worse. Unfortunately, since the stock market has been soaring and the GDP numbers look okay, most Americans assume that the U.S. economy is doing just fine...
While traders will focus on Wednesday's retail sales number, the main focus will be the ongoing collapse in Turkey's currency and whether there will be contagion to other EMs as well as any escalations in the US-China trade war.
Amid growing diplomatic tensions between the US and Turkey, Turkish TV station 'A Haber' on Saturday presented a detailed segment on 'The American Empire and its Media', showing the surprisingly close interrelations between U.S. mainstream media and key foreign policy institutions.
In the first tentative step toward capital controls, Turkey's banking regulator imposed a hard limit on the amount of FX and lira swap and swap-like transactions.
"Should Erdogan impose capital controls, in addition to banks' writedowns on now-toxic Turkish assets, investors' reaction is likely to be panic and to yank capital out of other EMs."
Saudi Arabia’s financially strapped Sovereign Wealth Fund has shown no interest so far in financing Elon Musk’s proposed $72 billion deal to take Tesla private, Reuters reports.
While Turkey is technically considered an emerging market, where it makes a sharp break with convention is that its external funding need is greater than the average Frontier Market...
