Oil

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Jobs Disappoint In Obama’s Final Month, Rise Only 156K, But Average Hourly Earnings Jump

With Wall Street expecting a 178K payrolls print for president Obama’s final full monthly December jobs report, the headline December nonfarm payrolls increase of just 156K is likely to disappoint. However, the poor December number will likely be offse…

The post Jobs Disappoint In Obama’s Final Month, Rise Only 156K, But Average Hourly Earnings Jump appeared first on crude-oil.top.


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<b>Crude Oil</b> Back Above $54, All Eyes On OPEC

Crude oil futures continued to rise Friday morning, pushing back near $55 barrel despite concerns that OPEC and Russia will renege on supply cuts …The post <b>Crude Oil</b> Back Above $54, All Eyes On OPEC appeared first on crude-oil…



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China’s Next Currency Crisis Is Here

For weeks now I’ve been warning that the $USD’s surge would trigger a deflationary crisis in China.

That Crisis is now here. As ZeroHedge noted yesterday, the Chinese Yuan is now triggering a level of volatility that was last seen right before the 2016 stock meltdown.

Here’s what stocks did during that time:

Hope you’re ready…

If you’ve yet to take action to prepare for this, we offer a FREE investment report called the Prepare and Profit From the Next Financial Crisis that outlines simple, easy to follow strategies you can use to not only protect your portfolio from it, but actually produce profits.

We made 1,000 copies available for FREE the general public.

To pick up yours, swing by….

http://phoenixcapitalmarketing.com/Prepare1.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 

 

The post China’s Next Currency Crisis Is Here appeared first on crude-oil.top.


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Gold Rises In All Currencies In 2016 – 9% In USD, 13% In EUR and 31.5% In GBP

– Gold gains in USD, GBP, EUR, CAD, AUD, NZD, JPY
– Gold gains in CNY, INR & most emerging market currencies

– Gold surges 31.5% in British pounds after Brexit shock
– Gold acted as hedge and safe haven in 2016 … for those who need safe haven
– Furthers signs of market having bottomed and bodes well for 2017
– What drivers will gold respond to in 2017?
–  EU elections and contagion risk, Geo-politics, terrorism, war and cyber war
–  Outlook for gold good during Trump Presidency (2017 to 2020)

gold-2016Click on to see enlarged table
Source: GoldPrice.org

Gold was the best performing currency in 2016, rising as it did in all major currencies. It again performed the function as a hedge against currency devaluation and this was seen particularly in sterling terms with gold rising 31.5% in British pounds after the Brexit shock.

gold-chart-2016Gold in USD in 2016

Gold prices closed 2016 at USD 1,159.10, EUR 1,098.36 and GBP 942.58 per ounce.
Gold prices closed 2015 at USD 1,062.25, EUR 974.32 and GBP 716.36 per ounce.
(Gold AM fixes on December 30th 2016 and December 31st 2015 respectively)

UK investors and savers who had an allocation to gold protected their wealth from the Brexit debacle and the sharp falls in sterling seen in its aftermath. Gold rose over £220 per ounce and acted as a classic safe haven for investors exposed to the pound, and markets and assets denominated in British pounds.

gold-gbp-2016
Gold in GBP in 2016

The gains in euro terms  were more modest but robust. The gains seen are likely due to the continuing massive ECB money printing and debt monetisation programme and heightened risk of contagion in the Eurozone.

Brexit and the elections in France, Germany and Holland will support gold in euro terms in 2017 and there is the possibility of sharp gains in euro terms should the Eurozone debt crisis return.

gold-euro-2016Gold in EUR in 2016


What drivers will gold respond to in 2017?

  • Italian, Greek, Irish, Spanish and other banks and risk of bail-ins
  • Dutch, German, French elections … Eurozone contagion
  • Continuing ultra loose monetary policies by Fed, BOE, BOJ and especially ECB
  • Trump policies and tweets …
  • Geo-politics, cyber war & terrorism, conventional war & terrorism

President Trump has already shown himself as a man who likes to tweet and knows the power of the short sound bite and the medium that is Twitter. His skill in this regard was one of the factors which helped him become President.

However, this asset may become a liability for him and for markets when he becomes President. The art of diplomacy will become more important and 140 characters of unfiltered Trump is likely to create tensions with America’s largest trading partners such as China. This has been seen with China recently and his accusation that China “stole” the U.S. drone on Twitter.

It has already impacted markets as seen when he tweeted about Boeing and Boeing shares fell sharply.

Should he continue in this vein, it could lead to jitters in markets and a safe haven bid for gold in the event of ‘inflammatory’, tension creating and damaging tweets. His capacity to comment without fully understanding all the facts may be his ‘Achilles heal’ in this regard.

Overnight Trump’s tweet regarding Toyota saw the Japanese car maker lose $1.2 billion in value in five minutes.  Shares plummeted after the president-elect vowed in a tweet to stop the car manufacturer from moving abroad.

Stocks, bonds and property markets have performed very well in recent years. However, there gains are artificial and are based on near zero percent interest rate policies and from being bloated by monetary stimulus on a scale that the world has never seen before.

These bubble like conditions look increasingly vulnerable and will likely burst – the question is when rather than if.

Indeed, the turmoil that we have seen on international markets in 2016 appears a foretaste of a very volatile 2017. We continue to see conditions akin to those seen in 2007 and 2008. Many leading experts have echoed these concerns.

Geopolitical risk intensified in 2016 with Brexit, the Italian referendum and of course the election of Trump. The risk of terrorism and war remain ever present and gold will continue to act as an important hedge against geopolitical risk.

The risk of contagion in the EU – both political and financial and monetary now looms large. Today there is the added risk of bail-ins and deposit confiscation which will be see savings and capital confiscated from savers and companies in the next financial crisis.

Conclusion

It is worth remembering – as many seem to have forgotten – that gold was one of the few assets to rise in the financial crash of 2008 and in the debt crisis in the 2007 to 2012 period. It has under performed since as stocks and bonds roared to artificially induced record highs.

The strong performance of gold in all currencies including the very strong dollar in 2016 bodes well for 2017.

It is due a period of out performance and we believe it will outperform other assets in the coming Trump Presidency years from 2017 to 2020.

KNOWLEDGE IS POWER

For your perusal, below are in order of downloads our most popular guides in 2016:

10 Important Points To Consider Before You Buy Gold

7 Real Risks To Your Gold Ownership

Essential Guide To Storing Gold In Switzerland

Essential Guide To Storing Gold In Singapore

Essential Guide to Tax Free Gold Sovereigns

Please share our research with family, friends and colleagues who you think would benefit from being informed by it.

Thank you and wishing you a healthy and fulfilling 2017

Gold and Silver Bullion – News and Commentary

Gold Traders Most Bullish Since 2015 on New Year Concerns (Bloomberg.com)

Gold holds near 1-month highs ahead of U.S. jobs data (Reuters.com)

Gold at four-week high, palladium set for 9.2 pct weekly rise (Reuters.com)

Yuan Slides, Dollar Steadies as Europe Stocks Drop: Markets Wrap (Bloomberg.com)

2017 American Eagle Now Available at Bullion Exchanges (CoinWeek.com)

Source: US Funds

Gold Technically Oversold, Ready For Price Reversal (Forbes.com)

Own gold because Fed can’t figure out Trump (MarketWatch.com)

JPM’s gold buy hints at changes in world financial system (AveryBGoodMan.com)

China Can’t Quit the Dollar – Yet (Bloomberg.com)

Rally or Crash? Bitcoin Buyers Are Nervous About China (Bloomberg.com)

7RealRisksBlogBanner

Gold Prices (LBMA AM)

06 Jan: USD 1,178.00, GBP 951.35 & EUR 1,112.27 per ounce
05 Jan: USD 1,173.05, GBP 953.55 & EUR 1,116.16 per ounce
04 Jan: USD 1,165.90, GBP 949.98 & EUR 1,117.40 per ounce
03 Jan: USD 1,148.65, GBP 935.12 & EUR 1,103.28 per ounce
30 Dec: USD 1,159.10, GBP 942.58 & EUR 1,098.36 per ounce
29 Dec: USD 1,146.80, GBP 935.56 & EUR 1,094.85 per ounce
28 Dec: USD 1,139.75, GBP 931.29 & EUR 1,091.88 per ounce

Silver Prices (LBMA)

06 Jan: USD 16.45, GBP 13.30 & EUR 15.54 per ounce
05 Jan: USD 16.59, GBP 13.47 & EUR 15.80 per ounce
04 Jan: USD 16.42, GBP 13.36 & EUR 15.74 per ounce
03 Jan: USD 15.95, GBP 12.97 & EUR 15.34 per ounce
30 Dec: USD 16.24, GBP 13.20 & EUR 15.38 per ounce
29 Dec: USD 16.06, GBP 13.10 & EUR 15.36 per ounce
28 Dec: USD 15.85, GBP 12.96 & EUR 15.22 per ounce


Recent Market Updates

– Trump’s Twitter “140 Characters” To Push Gold To $1,600/oz in 2017?
– 2017 – The Year of Banana Skin
– US: Five Must Gold See Charts – Gold Miners Are “Running Out” of Gold
– Royal Mint And CME Make A Mint On The Blockchain?
– China Gold and Precious Metals Summit 2016 – GoldCore Presentation
– Trumpenstein ! Who Created Him and Why?
– Bail-Ins Coming? World’s Oldest Bank “Survival Rests On Savers”
– Fed’s “Fool Me…”, Silver Suppression, Euro Contagion In 2017?
– Fed Raised Rates 0.25% – Rising Rates Positive For Gold
– Shariah Gold Standard Is “Revolutionary” – Mobius
– Silver Fixing By Banks Proven In Traders Chats
– Euro Crisis and Contagion Coming In 2017
– ECB ‘Bazooka’ Reloaded Until At Least December 2017 – Euro Gold Rises 1%; 13% YTD

The post Gold Rises In All Currencies In 2016 – 9% In USD, 13% In EUR and 31.5% In GBP appeared first on crude-oil.top.


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Gold Rises In All Currencies In 2016 – 9% In USD, 13% In EUR and 31.5% In GBP

– Gold gains in USD, GBP, EUR, CAD, AUD, NZD, JPY
– Gold gains in CNY, INR & most emerging market currencies

– Gold surges 31.5% in British pounds after Brexit shock
– Gold acted as hedge and safe haven in 2016 … for those who need safe haven
– Furthers signs of market having bottomed and bodes well for 2017
– What drivers will gold respond to in 2017?
–  EU elections and contagion risk, Geo-politics, terrorism, war and cyber war
–  Outlook for gold good during Trump Presidency (2017 to 2020)

gold-2016Click on to see enlarged table
Source: GoldPrice.org

Gold was the best performing currency in 2016, rising as it did in all major currencies. It again performed the function as a hedge against currency devaluation and this was seen particularly in sterling terms with gold rising 31.5% in British pounds after the Brexit shock.

gold-chart-2016Gold in USD in 2016

Gold prices closed 2016 at USD 1,159.10, EUR 1,098.36 and GBP 942.58 per ounce.
Gold prices closed 2015 at USD 1,062.25, EUR 974.32 and GBP 716.36 per ounce.
(Gold AM fixes on December 30th 2016 and December 31st 2015 respectively)

UK investors and savers who had an allocation to gold protected their wealth from the Brexit debacle and the sharp falls in sterling seen in its aftermath. Gold rose over £220 per ounce and acted as a classic safe haven for investors exposed to the pound, and markets and assets denominated in British pounds.

gold-gbp-2016
Gold in GBP in 2016

The gains in euro terms  were more modest but robust. The gains seen are likely due to the continuing massive ECB money printing and debt monetisation programme and heightened risk of contagion in the Eurozone.

Brexit and the elections in France, Germany and Holland will support gold in euro terms in 2017 and there is the possibility of sharp gains in euro terms should the Eurozone debt crisis return.

gold-euro-2016Gold in EUR in 2016


What drivers will gold respond to in 2017?

  • Italian, Greek, Irish, Spanish and other banks and risk of bail-ins
  • Dutch, German, French elections … Eurozone contagion
  • Continuing ultra loose monetary policies by Fed, BOE, BOJ and especially ECB
  • Trump policies and tweets …
  • Geo-politics, cyber war & terrorism, conventional war & terrorism

President Trump has already shown himself as a man who likes to tweet and knows the power of the short sound bite and the medium that is Twitter. His skill in this regard was one of the factors which helped him become President.

However, this asset may become a liability for him and for markets when he becomes President. The art of diplomacy will become more important and 140 characters of unfiltered Trump is likely to create tensions with America’s largest trading partners such as China. This has been seen with China recently and his accusation that China “stole” the U.S. drone on Twitter.

It has already impacted markets as seen when he tweeted about Boeing and Boeing shares fell sharply.

Should he continue in this vein, it could lead to jitters in markets and a safe haven bid for gold in the event of ‘inflammatory’, tension creating and damaging tweets. His capacity to comment without fully understanding all the facts may be his ‘Achilles heal’ in this regard.

Overnight Trump’s tweet regarding Toyota saw the Japanese car maker lose $1.2 billion in value in five minutes.  Shares plummeted after the president-elect vowed in a tweet to stop the car manufacturer from moving abroad.

Stocks, bonds and property markets have performed very well in recent years. However, there gains are artificial and are based on near zero percent interest rate policies and from being bloated by monetary stimulus on a scale that the world has never seen before.

These bubble like conditions look increasingly vulnerable and will likely burst – the question is when rather than if.

Indeed, the turmoil that we have seen on international markets in 2016 appears a foretaste of a very volatile 2017. We continue to see conditions akin to those seen in 2007 and 2008. Many leading experts have echoed these concerns.

Geopolitical risk intensified in 2016 with Brexit, the Italian referendum and of course the election of Trump. The risk of terrorism and war remain ever present and gold will continue to act as an important hedge against geopolitical risk.

The risk of contagion in the EU – both political and financial and monetary now looms large. Today there is the added risk of bail-ins and deposit confiscation which will be see savings and capital confiscated from savers and companies in the next financial crisis.

Conclusion

It is worth remembering – as many seem to have forgotten – that gold was one of the few assets to rise in the financial crash of 2008 and in the debt crisis in the 2007 to 2012 period. It has under performed since as stocks and bonds roared to artificially induced record highs.

The strong performance of gold in all currencies including the very strong dollar in 2016 bodes well for 2017.

It is due a period of out performance and we believe it will outperform other assets in the coming Trump Presidency years from 2017 to 2020.

KNOWLEDGE IS POWER

For your perusal, below are in order of downloads our most popular guides in 2016:

10 Important Points To Consider Before You Buy Gold

7 Real Risks To Your Gold Ownership

Essential Guide To Storing Gold In Switzerland

Essential Guide To Storing Gold In Singapore

Essential Guide to Tax Free Gold Sovereigns

Please share our research with family, friends and colleagues who you think would benefit from being informed by it.

Thank you and wishing you a healthy and fulfilling 2017

Gold and Silver Bullion – News and Commentary

Gold Traders Most Bullish Since 2015 on New Year Concerns (Bloomberg.com)

Gold holds near 1-month highs ahead of U.S. jobs data (Reuters.com)

Gold at four-week high, palladium set for 9.2 pct weekly rise (Reuters.com)

Yuan Slides, Dollar Steadies as Europe Stocks Drop: Markets Wrap (Bloomberg.com)

2017 American Eagle Now Available at Bullion Exchanges (CoinWeek.com)

Source: US Funds

Gold Technically Oversold, Ready For Price Reversal (Forbes.com)

Own gold because Fed can’t figure out Trump (MarketWatch.com)

JPM’s gold buy hints at changes in world financial system (AveryBGoodMan.com)

China Can’t Quit the Dollar – Yet (Bloomberg.com)

Rally or Crash? Bitcoin Buyers Are Nervous About China (Bloomberg.com)

7RealRisksBlogBanner

Gold Prices (LBMA AM)

06 Jan: USD 1,178.00, GBP 951.35 & EUR 1,112.27 per ounce
05 Jan: USD 1,173.05, GBP 953.55 & EUR 1,116.16 per ounce
04 Jan: USD 1,165.90, GBP 949.98 & EUR 1,117.40 per ounce
03 Jan: USD 1,148.65, GBP 935.12 & EUR 1,103.28 per ounce
30 Dec: USD 1,159.10, GBP 942.58 & EUR 1,098.36 per ounce
29 Dec: USD 1,146.80, GBP 935.56 & EUR 1,094.85 per ounce
28 Dec: USD 1,139.75, GBP 931.29 & EUR 1,091.88 per ounce

Silver Prices (LBMA)

06 Jan: USD 16.45, GBP 13.30 & EUR 15.54 per ounce
05 Jan: USD 16.59, GBP 13.47 & EUR 15.80 per ounce
04 Jan: USD 16.42, GBP 13.36 & EUR 15.74 per ounce
03 Jan: USD 15.95, GBP 12.97 & EUR 15.34 per ounce
30 Dec: USD 16.24, GBP 13.20 & EUR 15.38 per ounce
29 Dec: USD 16.06, GBP 13.10 & EUR 15.36 per ounce
28 Dec: USD 15.85, GBP 12.96 & EUR 15.22 per ounce


Recent Market Updates

– Trump’s Twitter “140 Characters” To Push Gold To $1,600/oz in 2017?
– 2017 – The Year of Banana Skin
– US: Five Must Gold See Charts – Gold Miners Are “Running Out” of Gold
– Royal Mint And CME Make A Mint On The Blockchain?
– China Gold and Precious Metals Summit 2016 – GoldCore Presentation
– Trumpenstein ! Who Created Him and Why?
– Bail-Ins Coming? World’s Oldest Bank “Survival Rests On Savers”
– Fed’s “Fool Me…”, Silver Suppression, Euro Contagion In 2017?
– Fed Raised Rates 0.25% – Rising Rates Positive For Gold
– Shariah Gold Standard Is “Revolutionary” – Mobius
– Silver Fixing By Banks Proven In Traders Chats
– Euro Crisis and Contagion Coming In 2017
– ECB ‘Bazooka’ Reloaded Until At Least December 2017 – Euro Gold Rises 1%; 13% YTD

The post Gold Rises In All Currencies In 2016 – 9% In USD, 13% In EUR and 31.5% In GBP appeared first on crude-oil.top.


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Trump: Mexico Will Pay Us Back For “Great Wall”

After months of promising that Mexico would pay for a border wall, CNN reported last night that Trump was working with House Republicans on a plan to fund the wall project through appropriations, a move which they said would “break a key campaign promise.”

President-elect Donald Trump’s transition team has signaled to congressional Republican leaders that his preference is to fund the border wall through the appropriations process as soon as April, according to House Republican officials.

 

The move would break a key campaign promise when Trump repeatedly said he would force Mexico to pay for the construction of the wall along the border, though in October, Trump suggested for the first time that Mexico would reimburse the US for the cost of the wall.

And here is Anderson Cooper on the topic last night:

 

Of course, this morning Trump has fired back with yet another tweet blasting the “dishonest media” saying that any taxpayer money spent on the “Great Wall (for sake of speed), will be paid back by Mexico later!”

The dishonest media does not report that any money spent on building the Great Wall (for sake of speed), will be paid back by Mexico later!

— Donald J. Trump (@realDonaldTrump) January 6, 2017

 

Meanwhile, the ever defiant Vicente Fox maintained that while Trump may ask Mexico to pay for his border wall, “neither [he] nor Mexico would pay for his racist monument.”

Trump may ask whoever he wants, but still neither myself nor Mexico are going to pay for his racist monument.
Another promise he can’t keep.

— Vicente Fox Quesada (@VicenteFoxQue) January 6, 2017

 

So, can taxpayers charge Mexico interest?

The post Trump: Mexico Will Pay Us Back For “Great Wall” appeared first on crude-oil.top.


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Trump: Mexico Will Pay Us Back For “Great Wall”

After months of promising that Mexico would pay for a border wall, CNN reported last night that Trump was working with House Republicans on a plan to fund the wall project through appropriations, a move which they said would “break a key campaign promise.”

President-elect Donald Trump’s transition team has signaled to congressional Republican leaders that his preference is to fund the border wall through the appropriations process as soon as April, according to House Republican officials.

 

The move would break a key campaign promise when Trump repeatedly said he would force Mexico to pay for the construction of the wall along the border, though in October, Trump suggested for the first time that Mexico would reimburse the US for the cost of the wall.

And here is Anderson Cooper on the topic last night:

 

Of course, this morning Trump has fired back with yet another tweet blasting the “dishonest media” saying that any taxpayer money spent on the “Great Wall (for sake of speed), will be paid back by Mexico later!”

The dishonest media does not report that any money spent on building the Great Wall (for sake of speed), will be paid back by Mexico later!

— Donald J. Trump (@realDonaldTrump) January 6, 2017

 

Meanwhile, the ever defiant Vicente Fox maintained that while Trump may ask Mexico to pay for his border wall, “neither [he] nor Mexico would pay for his racist monument.”

Trump may ask whoever he wants, but still neither myself nor Mexico are going to pay for his racist monument.
Another promise he can’t keep.

— Vicente Fox Quesada (@VicenteFoxQue) January 6, 2017

 

So, can taxpayers charge Mexico interest?

The post Trump: Mexico Will Pay Us Back For “Great Wall” appeared first on crude-oil.top.


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U.S. gasoline prices in 2016 were the lowest since 2004

U.S. regular retail gasoline prices averaged $2.14 per gallon (gal) in 2016, 29 cents/gal (12%) less than in 2015 and the lowest annual average price since 2004. Lower crude oil prices in 2015 were the main cause of lower gasoline prices. In 9 of the 1…


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Frontrunning: January 6

  • December Jobs Data to Wrap Up Obama’s Economic Legacy (WSJ)
  • FBI Says Democrats Refused Access to Hacked E-Mail Servers (BBG)
  • As Trump attacks, Nissan at bigger risk than Toyota (Reuters)
  • Democratic leader Schumer emerges as Trump’s newest punching bag (Reuters)
  • PBoC raises renminbi’s daily fix by most since 2005 (FT)
  • China central bank urges rational investment in bitcoin (Reuters)
  • China Doubles Down on Defense of Yuan (WSJ)
  • Millennials Think the Trump Economy Is Going to Implode (BBG)
  • Judge Rules Against Sanofi and Regeneron in Patent Case (WSJ)
  • Ash Carter Says Putin Is Making It Harder for U.S. to Work With Russia (WSJ)
  • China Plans Scrutiny of U.S. Firms If Trump Starts Feud (BBG)
  • Duterte hopes Russia will become Philippines’ ally and protector (Reuters)
  • Russia says has begun reducing forces in Syria (Reuters)
  • Trump team has differences of opinion on shaping spy agencies (Reuters)
  • Beheading attire and sexy suicide vests? Satire of ISIS wives stirs anger and praise (Reuters)
  • Secret Report Shows Just How Badly Belgium Mishandled Hunt for ISIS Operatives (WSJ)
  • Nissan halts joint development of luxury cars with Daimler (Reuters)
  • People Are Bailing on Chris Christie’s New Jersey. How Is Your State Holding Up? (BBG)
  • Verizon Executive: Unsure About Yahoo Deal (WSJ)
  • Will OPEC Deliver Its Output Cut Deal? Here’s How We’ll Know (BBG)
  • At least 33 prisoners killed in new Brazil prison uprising (Reuters)

 

Overnight Media Digest

WSJ

– Donald Trump blasted Toyota Motor Corp for its plan to build a new Mexican plant, just hours after the head of the Japanese auto maker signaled a willingness to work with the new administration. http://on.wsj.com/2ihIF3G

– Apple Inc said its App Store generated record revenue of more than $20 billion for developers in 2016, as that business roughly maintained its growth rate even as iPhone sales volumes declined. http://on.wsj.com/2ihMaXF

– Struggling retailer Sears Holdings Corp has bought itself some breathing room through maneuvers that include the sale of its Craftsman brand for $900 million and the closure of 150 additional stores as it grapples with a prolonged sales slump and mounting losses. http://on.wsj.com/2ihIWTY

– Verizon Communications Inc is unsure whether it will proceed with its $4.83 billion purchase of Yahoo Inc’s core business, a top Verizon executive said, weeks after the internet company disclosed a second massive data breach. http://on.wsj.com/2ihCjRK

– T-Mobile US Inc plans to eliminate additional fees and taxes on the bills for its new data plan, the latest move by the wireless carrier to differentiate itself from rivals. http://on.wsj.com/2ihxIPy

– Fox News tapped veteran journalist and commentator Tucker Carlson to replace Megyn Kelly in one of its most prominent time slots, underscoring that the cable news network has no intention of moving away from its conservative roots. http://on.wsj.com/2ihxuHZ

– A U.S. federal judge ruled that drugmakers Sanofi SA and partner Regeneron Pharmaceuticals Inc infringed the patent that rival Amgen Inc holds for its new cholesterol drug. http://on.wsj.com/2ihAHre

– Shake Shack Inc’s chief financial officer, who successfully led the burger chain through its 2015 initial public offering, plans to leave company in March, according to a regulatory filing. http://on.wsj.com/2ihCA7g

– Wal-Mart Stores Inc will resume accepting Visa Inc cards in its Canadian stores in the wake of a dispute over credit-card fee terms, the two companies said Thursday. http://on.wsj.com/2ihEXHg

– Samsung Electronics Co estimated that its fourth-quarter operating profit rose 49.8 percent from a year earlier, its biggest quarter of profits in more than three years, as the world’s biggest smartphone maker leaned heavily on components to drive growth after billions of dollars were wiped out from a massive recall of its Galaxy Note 7 smartphones. http://on.wsj.com/2ihG9dD

– Online advertising network Taboola has acquired Israel-based website personalization technology firm Commerce Sciences, the companies said. Terms of the deal were not disclosed. http://on.wsj.com/2ihD90F

 

FT

Olly Robbins, the permanent secretary at the Department for Exiting the European Union, wanted to take control of United Kingdom’s negotiations with Brussels and “vigorously opposed” the appointment of Tim Barrow as Britain’s envoy to the European Union, according to several officials close to the process.

The United Kingdom’s Royal Mail Plc is moving forward with plans to close a 90,000-member pension fund, saying it had begun consulting workers on the future of the 7.4 billion pounds ($9.18 billion) defined-benefit scheme.

Barclays Plc’s Japan boss Mark Dearlove was interviewed by the United Kingdom’s Serious Fraud Office before Christmas as part of the agency’s third criminal probe into whether the bank manipulated the London Interbank Offered Rate.

 

NYT

– On Thursday, federal regulators announced a $5 million settlement with Jon Corzine, who ran MF Global when it collapsed into bankruptcy in 2011 and lost more than $1 billion in customer money. The settlement, reached unanimously at the Commodity Futures Trading Commission in the waning days of the Obama administration and approved by a federal judge this week, caps a long-running spectacle that derailed Corzine’s career and spurred a number of congressional, criminal and regulatory investigations. http://nyti.ms/2iOB5RC

– China intends to spend more than $360 billion through 2020 on renewable power sources like solar and wind, the government’s energy agency said on Thursday. The agency said in a statement that China would create more than 13 million jobs in the renewable energy sector by 2020, curb the growth of greenhouse gasses that contribute to global warming and reduce the amount of soot that in recent days has blanketed Beijing and other Chinese cities in a noxious cloud of smog. http://nyti.ms/2iHXRu1

– Frontier Airlines – known for offering scant legroom and low prices for rides on planes that have wild animals painted on the tails – is preparing an initial public offering, people with knowledge of the deal said. The Denver-based company has tapped Deutsche Bank AG, JPMorgan Chase & Co and Evercore to manage the debut, the people said. http://nyti.ms/2iWHTto

 

Canada

THE GLOBE AND MAIL

** The crushing Alberta recession has wiped out more than C$4 billion ($3.02 billion) in value of downtown Calgary office properties, city assessors warned Thursday, with some suburban office landlords and retailers expected to see higher tax bills as a result. https://tgam.ca/2iiUbvC

** Penn West Petroleum Ltd said on Thursday it plans to spend C$180 million ($135.78 million) on operations this year, up from its previous estimate of C$150 million ($113.15 million), with the largest chunk earmarked for its Alberta Cardium operations. https://tgam.ca/2ij5kMM

** International Trade Minister Chrystia Freeland portrayed Canada on Thursday as a global bulwark against populism and protectionism. While other countries build walls, Canada is opening its doors to trade and immigration, she said. https://tgam.ca/2iiYQ0w

NATIONAL POST

** Walmart and Visa have ended an acrimonious and public battle over fees that saw the retail giant refuse to accept Visa credit cards in its northern Ontario and Manitoba stores. In a brief statement Thursday afternoon, Walmart said it would allow customers in those regions to once again use Visa cards beginning Friday. http://bit.ly/2ij1inX

** A new report suggests that Canada would benefit from higher capacity of so-called “partial upgrading” technology, a process that would help oilsands players fetch a higher price for their product and ease longstanding pipeline woes. http://bit.ly/2iiZ1Jo

** Growing U.S. production of tight oil and shale gas, combined with flat U.S. oil demand, is bad news for Canada, which will have no alternative export market until it builds new oil pipelines to the coasts and liquefied natural gas plants, and even faces new competition from U.S. imports, according to the U.S. Energy Information Administration’s 2017 energy outlook. http://bit.ly/2ij2vvo

 

Britain

The Times

Britain’s retail sector weathered its fourth poor December in a row with negative like-for-like sales growth on the high street amid volatile consumer sentiment, according to BDO, the accountancy and business advisory firm. http://bit.ly/2hWbLcH

The London-listed carrier Fastjet Plc raises another $48 million through a placing of shares with City institutions and a cash injection from the South African aviation services group Solenta. http://bit.ly/2hWfmaM

The Guardian

A former Snapchat employee has accused the tech company of lying about its user numbers to deceive investors ahead of a possible initial public offering. http://bit.ly/2hWa8vF

RMT, the union behind a series of strikes disrupting services on the Southern rail network has accepted an offer of direct talks with the government in an attempt to solve the long-running dispute. http://bit.ly/2hWjW8E

The Telegraph

JPMorgan Chase & Co’s CEO Jamie Dimon has warned the French president that the country is unlikely to lure banking jobs away from London after Brexit unless the nation overhauls employment legislation. http://bit.ly/2hWh9ML

Royal Mail has launched a consultation into changes to its final salary pension scheme amid threats of strike action from unions. http://bit.ly/2hWb3MD

Sky News

Sports Direct International Plc founder Mike Ashley rescued chairman Keith Hellawell for a second time after a fresh vote by independent investors rejected his reappointment. http://bit.ly/2hW3llL

Discount supermarket Aldi Inc said on Thursday it will increase minimum wages for its British employees by 1.5 percent from February. http://bit.ly/2hWlAHJ

The Independent

Warner Bros, a unit of Time Warner Inc, has committed to keep its European headquarters in London in a move seen as a vote of confidence for UK’s entertainment industry in the wake of Britain’s vote to leave the EU. http://ind.pn/2hWhDTa

The resilience of the economy in the wake of Brexit vote has not prompted the Bank of England to change its view that Britain will suffer near-term damage from Brexit, the Bank’s chief economist, Andy Haldane, said on Thursday. http://ind.pn/2hWbFC0

 

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