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By Brian Ellsworth | CARACAS CARACAS Venezuela’s opposition prepared to march in silence on Saturday to honor a dozen people killed in three weeks of protests demanding that the government of President Nicolas Maduro hold delayed elections and address a growing economic crisis. Twelve people have been killed in a renewed wave of demonstrations this month in incidents primarily involving security forces or armed civilians. Another eight […]

Photo He was the only man I saw when we entered the nearly empty village in northern Iraq, which had just recently been liberated from the Islamic State. The first thing he did when he approached our car was ask my colleague for a light. That’s when I noticed the pack of cigarettes sticking out of Mohamed Ahmed Saleh’s shirt pocket. Just over a week after the […]

By Ian Simpson | WASHINGTON WASHINGTON U.S. scientists will stage an unprecedented protest on Saturday, a March for Science provoked by steep cuts President Donald Trump has proposed for science and research budgets, and growing disregard for evidence-based knowledge. The march in Washington, timed to coincide with the Earth Day environmental event, will put Trump’s questioning of climate change and proposed cuts to federal science programs at […]

By Chris at www.CapitalistExploits.at Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing. Welcome to this week’s edition of “World Out Of Whack” where every Wednesday we take time out of our day to laugh, poke fun at and present to you absurdity in global financial markets in all its glorious insanity. While we enjoy a good laugh, the truth is that the first step to […]

By Maher Chmaytelli | MOSUL, Iraq MOSUL, Iraq Pushing carts loaded with bags, babies and the elderly, hundreds of people fled Mosul on Saturday after Iraqi forces retook another district in the west of the city from Islamic State. After walking for miles, families were taken by bus from a government checkpoint in the south of the city to camps housing more than 410,000 people displaced since […]

By Francesco Canepa and Gernot Heller | WASHINGTON WASHINGTON Global economic leaders on Friday continued downplaying possible friction with the Trump administration over currencies, trade and other potentially contentious issues, even while acknowledging that much about the U.S. president’s plans remains unclear. On a day when Donald Trump himself seemed focused on domestic matters – promising a new U.S. tax plan next week and announcing reviews of […]

Len Blavatnik, the billionaire investor, has been cleared of fraud claims related to his $19bn buyout of Lyondell Chemical, according to a ruling from a US federal bankruptcy judge issued late on Friday. Mr Blavatnik combined Basell, his chemicals business, with Lyondell in 2007 to create LyondellBasell (LBI), funding the transaction with more than $20bn of debt. The business quickly collapsed from the combination of the financial […]

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Photo A woman laid flowers at a makeshift memorial in front of the Reina nightclub in Istanbul in January. On April 6, United States Special Operations forces carried out a ground raid in Syria that killed Abdurakhmon Uzbeki, an ISIS militant who had helped plot the attack on the nightclub. Credit Ozan Kose/Agence France-Presse — Getty Images WASHINGTON — United States Special Operations forces carried out a […]

By Lindsay Dunsmuir | WASHINGTON WASHINGTON The United States has strongly signalled it will continue to support Ukraine, Finance Minister Oleksandr Danylyuk said on Friday, adding that the war-torn country had a “good, pragmatic” relationship with Washington. Ukraine has previously expressed some nervousness about the possibility the Trump administration might try to cut a deal with Russia over Crimea and the eastern part of Ukraine that has […]

MOSCOW Russia has told the United States it regrets Washington’s opposition to letting its inspectors take part in an investigation into a chemical weapons attack in Syria earlier this month, the foreign ministry said on Friday. It said Foreign Minister Sergei Lavrov spoke by phone to U.S. Secretary of State Rex Tillerson and the two sides agreed to consider one more time an “objective investigation into the […]

Within the US fixed income market, investors are sending a clear message about the prospect of higher interest rates. In recent weeks, investors have pushed back against a string of leveraged loan transactions, with a handful of deals pulled as money flows into the sector have shrunk. The stumbles underline a diminished appetite for richly valued, floating rate loans, seen as providing investors with some protection from […]

WASHINGTON The United States disclosed on Friday a secret military ground operation that killed an Islamic State operative seen as a close associate of leader Abu Bakr al-Baghdadi and linked to an attack on a Turkish nightclub that left 39 people dead. Abdurakhmon Uzbeki, who was believed to be from Uzbekistan, was killed during the ground assault near Mayadin, Syria, on April 6, said Colonel John Thomas, […]

Investor sentiment is leaning towards a market-friendly outcome ahead of Sunday’s first round of voting in the French presidential election. The euro was on course for its best week in three months near $1.07, while a key proxy of election risk, the premium demanded by investors to own French government bonds over German Bunds, has narrowed sharply. “The most likely outcome is for a second round run-off […]

The Federal Reserve appears to believe that the size of its balance sheet matters, but not that bigger is better. The question is, why not? As the Fed pushes ahead with plans to shrink its stock of about $2.5tn of Treasuries and $1.8tn of mortgage-backed securities to “normal”, it is puzzling that officials haven’t provided a compelling case for why the move is either necessary or desirable. […]

Despite a resurging stock market and stabilized bond risk premia (cough Draghi cough), EurActiv reports the proportion of children living below the poverty line in Spain has increased by 9 percentage points between 2008 and 2014, to reach almost 40%. Spain has the EU’s third highest rate of child poverty, after Romania and Greece. EURACTIV Spain reports. While child poverty in general rose significantly, the sharpest increase (56%) […]

By Kate Holton and William Schomberg | NEWTON FERRERS, England/LONDON NEWTON FERRERS, England/LONDON Before last year’s Brexit vote, Scott McCready was struggling to fill his holiday cabins on the coast of southwest England. Now the site is fully booked with British tourists avoiding more expensive foreign trips following a plunge in the pound. This turnaround in the 10 months since Britons decided to leave the European Union […]

France has launched an anti-terror investigation after a policeman was killed and two other officers injured in an apparent Islamist attack in Paris on Thursday that threatens to disrupt the country’s presidential election. French authorities said the suspected gunman had been shot dead in the assault on the Champs-Élysées shortly before 9pm local time. One civilian was also injured in the attack. “We are convinced that the […]

US mortgage group Ocwen has lost more than half its market value after the Consumer Financial Protection Bureau sued it over “systemic” misconduct, a reminder of the power wielded by the Washington regulator that Republicans have vowed to rein in. Several states are also taking action as they prepare to revoke operating licenses for the New York-listed company, which was founded in 1988 and employs more than […]

By Ulf Laessing | MOSUL, Iraq MOSUL, Iraq If you want to hear the resentment people of Mosul feel now that Iraqi forces have driven Islamic State out of most of the city, you should talk to Saddam Hussein. Not the dictator, but the Mosul schoolteacher, who proudly shows off an identity card bearing the name which his parents gave him in the ruler’s honour 45 years […]

By Madeline Chambers | BERLIN BERLIN Germany’s Central Council of Muslims said on Thursday that the right-wing Alternative for Germany (AfD) was on a path to becoming a more radical, anti-Islamic party without co-chief Frauke Petry leading it into September’s national election. Petry had become the face of the anti-immigration party, which hurt Chancellor Angela Merkel’s conservatives during the migrant crisis but has leaked support this year. […]

A group of Vietnamese farmers who took more than a dozen police and officials hostage over a land dispute said on Thursday they would resist any rescue attempt by the authorities and have sealed off their village. We poured oil around the community house where the men are being kept. We will make our move if the police attack us One female farmer The incident began on […]

CARACAS General Motors (GM.N) said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to “take all legal actions” to defend its rights. The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has already roiled many U.S. companies. “Yesterday, GMV’s (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations. In […]

Last Friday, New York legislators agreed on a budget that includes funding for tuition-free education at public colleges and universities. That plan, the Excelsior Scholarship, maintains most of the features of a proposal Governor Andrew Cuomo introduced earlier this year, including tuition-free enrollment at the City University of New York and State University of New York systems to students of families earning up to $125,000 per year. […]

Virtu Financial is set to emerge victorious in its effort to buy rival high-frequency trading group KCG Holdings, with a deal expected to be announced on Thursday, according to people briefed on the matter. KCG and Virtu declined to comment. With the announcement of the takeover imminent, Charles Susi, head of institutional sales and electronic trading at KCG, announced internally that he was leaving the company, other […]

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