Business

We can now close the case on who leaked that confidential, market-moving data to Medley global back in 2012: it was Richmond Fed's Jeffrey Lacker, who previously was expected to retire in October, and  is resigning immediately.

In a statement, Lacker confirms he revealed confidential FOMC information to Medley Global and that he lied to the Fed's general counsel on at least two occasions. His full statement is below:

Statement Of Dr. Jeffrey Lacker

 

Authored by Zainab Calcuttawala via OilPrice.com,

Brazilian oil output in February was 14.6 percent higher year-over-year, according to the latest data released by ANP, the South American country’s petroleum regulator.

February production touched 2.676 million barrels per day, an ANP statement said, adding that natural gas output also rose 9.2 percent compared to the same month last year.

It's official - for the first time ever, Elon Musk's government-subsidized car-maker is America's most valuable auto manufacturer.

Tesla shares surged another 1% today, amid a continued "trouble in shortville" ramp, topping $300 for the first time...

That gives the company a total value of $52.7 billion.

That's more than GM's $49.6 billion valuation. Tesla chief executive Elon Musk says he expects the company to sell 500,000 cars next year. GM, meanwhile, sold more than 20 times that many last year.

At the end of 4Q 2016, we noted that NYC real estate sales volumes were collapsing as sellers seemed to be having a difficult time accepting the fact that clearing prices had dropped below their exorbitant asking prices...here was our conclusion then (see "More Bad News For NYC Real Estate As Luxury Co-Op Contracts Collapse 25%"):

Last Thursday, when AMZN stock - currently trading at some ridiculous four or more digit P/E multiple  - made its latest spurt higher, we reported that as a result of the move, Jeff Bezos was now richer than Warren Buffett and fast approaching Bill Gates.