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Further North Korea Nuclear Testing May Goad China Into Oil Embargo

Further North Korea Nuclear Testing May Goad China Into Oil Embargo

Authored by Zainab Calcuttawala via OilPrice.com,

Chinese diplomatic analysts believe further nuclear tests by North Korea could push Beijing over the edge, prompting an oil embargo that would deal a devastating blow to Pyongyang’s stability.

US Secretary of State Rex Tillerson told Fox News that he had been informed that “China would be taking sanctions actions on their own,” should Pyongyang conduct another nuclear test.

Contagion: Home Capital Bank Run Spreads To Another Canadian Mortgage Lender

Contagion: Home Capital Bank Run Spreads To Another Canadian Mortgage Lender

As discussed first thing this morning, the fate of Canada's largest alternative mortgage lender, Home Capital Group, appears to have been decided over the weekend, when in the span of just one week, over 70% of the company's deposit base had been withdrawn, effectively mothballing the business, leaving just a sale or liquidation as the two possible outcomes even as a $2 billion emergency line of credit keeps the company afloat, at least until HCG's $12.8 billion in GICS mature some time over the next 30 to 60 days.

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