Venezuela Forced To Shut Down Production As Operations Fall Apart

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Authored by Nick Cunningham via OilPrice.com, Every week the crisis in Venezuela takes a turn for the worse… There are now signs that its oil industry is entering a dangerous new phase. Argus Media reports that Venezuela has begun to “proactively shut in oil production to cope with nearly replete terminal storage, further accelerating an output decline… Read More

Loving Debt = War on Gold

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From Kristin Hannah, author of “The Nightingale,” a novel. “In love we find out who we want to be; in war we find out who we are.” She wrote about WWII, but her insight applies to debt and gold. Miles Franklin sponsored this article. The world has created over $200 trillion in debt, more than… Read More

Dignity Included

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There is a straightforward moral case for Washington, D.C.’s Initiative 77, a ballot measure that would raise the minimum wage for restaurant servers and other tipped workers from $3.33 to $15 per hour by 2025. Elise Gould and David Cooper of the Economic Policy Institute have marshaled ample evidence to show that the current tip-wage structure… Read More

Interdict holding back MC Mining Makhado project ‘discharged’

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AN interim interdict against an environmental authorisation for Makhado, an $80m metallurgical and thermal coal project in South Africa’s Limpopo province, has been “discharged” by the High Court, said MC Mining, the Johannesburg-listed firm that is developing the project. This means there are now no regulatory blocks to Makhado which was recently rescoped to produce… Read More

Global Asset Allocation Update

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The risk budget is unchanged this month. For the moderate risk investor the allocation to bonds and risk assets is evenly split. There are changes this month within the asset classes. How far are we from the end of this cycle? When will the next recession arrive and more importantly when will stocks and other… Read More

Tesla-style planes take off in Norway

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EDINBURGH — Environmental concerns are gathering steam in Europe, with consumers paying closer attention to identifying how to cut down on harmful goods and services. In the UK, news channels are awash with a campaign to reduce the amount of plastic making it into the ocean food chain. Nursery schools are starting to eliminate glitter… Read More

Relying on High Court’s empowerment guidance may be folly

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WHEN the Mineral and Petroleum Resource Deveopment Act (MPRDA) came into force in 2002, existing mining companies were compelled to sell 26% equity to South African black or empowered investors. Unempowered mining companies would lose their mining rights – the legal basis on which companies conduct mining activities and acquire ownership of the mined ore. From… Read More

Preview Of Friday's "All-Important" OPEC Meeting

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Heading into Friday’s much anticipated OPEC meeting in Vienna, the focus has shifted from (declining) global demand-side concerns to specific supply-side actions, and while it is broadly expected to conclude with an oil production increase –  the first since the historic production cut agreement in late 2016, is set to be contentious with members Iran,… Read More

FX Weekly Preview Warning: Treacherous Week Ahead

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All three of the major central banks met last week and confirmed that monetary policy would continue to diverge for at least another year. The clarity of the trajectory of monetary policy reduces the impact of high-frequency economic data. Source: snbchf.com

Audi CEO Arrested As Diesel-Emissions Scandal Spreads

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Munich prosecutors have arrested Audi CEO Rupert Stadler, also a member of parent company Volkswagen’s board, on concerns he might try to suppress evidence, in what is the highest-profile arrest of a Volkswagen executive since the diesel emissions scandal exploded into public view nearly three years ago. The arrest comes a month after Audi admitted… Read More

Emerging Markets: What Changed

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US-China trade tensions are rising. Pakistan devalued the rupee for a third time since December. Bulgaria will seek to join the eurozone banking union and ERM-2 simultaneously. The National Bank of Hungary appears to have tilted more hawkish. Newly elected Egyptian President El-Sisi shuffled his cabinet. Argentina has a new central bank chief after Federico… Read More