Business

Former Turing Pharmaceuticals CEO Martin Shkreli, who in the summer of 2015 was briefly elevated to the status of the "world's most hated man", when he became the poster boy for soaring drug prices after he hiked the price of Daraprim more than 50-fold, i.e., he was a capitalist who did everything permitted under the law to boost profit, shortly before Congress "realized" that virtually every other drug company was engaged in similar "price gouging" appeared on Bloomberg TV to discuss not only the ongoing controversy surrounding not just Daraprim pricing, but his outlook for the pharmaceuti

After 4 straight quarters of MoM growth in GDP, the Canadian economy plunged 0.3% in Q4 (considerably worse than the 0.0% expectations) despite a resugenece in crude prices. The Loonie is tumbling, back at 5-week lows, as manufacturing shrank a shocking 2.0% YoY - most since 2013.

European stocks halted two days of declines, with the Stoxx 600 fractionally in the green and Italy’s bonds climbing after Monte Paschi requested a bailout and Italy pledged to provide support for its other ailing lenders. S&P futures were little changed among extremely thin volumes while Chinese stocks dropped amid concerns on higher borrowing costs. Oil slid, while gold advanced; bitcoin soared to multi-year highs, rising above $900.

Shortly after last night's news that Deutsche Bank had settled with the DOJ for $7.2 billion, of which it would pay $3.1 billion in a civil penalty, far lower than the $14 billion number initially speculated (the stock popped as much as 4% before settling just over 2% higher currently), Credit Suisse likewise closed the books on its pre-crisis RMBS fraud when the largest Swiss bank agreed to pay $5.28 billion to resolve a U.S. investigation into its business in mortgage-backed securities.

As a new Trump administration prepares to enter the White House, after months of promises to crack down on illegal border crossings, new data emerges that seemingly confirms that the citizens in Mexico and Central America have taken him at his word.  As data from the PewResearchCenter confirms, there has been a surge in illegal border crossings in October and November with the apprehension of people traveling as a family unit up 130% YoY.