Business

Authored by Tsvetana Paraskova via OilPrice.com,

After years of setbacks and delays, China may be days away from launching a yuan-priced crude oil futures contract to make its currency more international and challenge the dominance of the petrodollar.

Many Chinese investors eagerly anticipate the start of yuan oil futures trading on the Shanghai International Energy Exchange, with hope it will come just in time for Christmas, when western markets will be either closed or calmer than usual.

Credit Suisse Chief US Equity Strategist, Jonathan Golub, has estimated that corporate tax cuts in the U.S. could boost average earnings of companies in the S&P by about 8-10%.  Now, as those tax cuts get priced into the market for the 10th time today, we decided to take a look at which industries will benefit the most and how they will spend their extra cash flow.

Authored by Jonathan Marshall via ConsortiumNews.com,

It seems like it’s always Christmastime at the Pentagon where the stockings are full and budget-cutting is for those domestic social-program guys...

Wise parents who celebrate Christmas advise their young children not to make unreasonably grandiose requests of Santa. After all, he has to squeeze down a rather narrow chimney to deliver their presents.

Nearly two months after CEO Patrick Byrne first announced that it would hold an ICO of its own to help build out its blockchain infrastructure, Overstock – the e-commerce-company-turned-wannabe-blockchain pioneer – was expected to launch at midnight Monday to significant fanfare...

...After a series of delay's due to unspecified technical issues, the offering finally began at around 5 pm ET...

Here's more from the Overstock press release announcing the offering...

Authored by Irina Slav via OilPrice.com,

The chief executive of Russian state oil major Rosneft met yesterday with Cuba’s President Raul Castro, suggesting that the two are working on an energy deal, Reuters reports.

Rosneft started exporting crude oil to the Caribbean island earlier this year as its main supplier, Venezuela, struggled with a decline in its own production, and in October Sechin said there were plans to increase oil shipments to Cuba.