Business

One year after OPEC pulled off what many considered impossible, and on November 30, 2016 in Vienna the cartel managed to reduce oil production by most OPEC and several key non-OPEC nations by 1.2 million barrels daily in an effort to reduce the global oil glut, this time things are looking far more shaky, at least according to Goldman Sachs which in a Monday afternoon note writes that the outcome of OPEC’s November 30 meeting is far more uncertain than usual for two main reasons: i) Russia has yet to endorse Saudi Arabia’s proposal for a 9-month extension to production cuts and ii) fundamen

 "It's going a lot, lot higher"

       - Mike Novogratz discussing the price of bitcoin, Nov. 27, 2017

And the hits keep coming for the unicornest unicorn in all of unicorn-land...

Back in the summer, we suggested - for numerous reasons - that Uber's next round of financing may come at a significant discount to its current $69 billion valuation.

New York's billionaire hedge fund managers have blazed the trail south in recent years with the likes of David Tepper, Paul Tudor Jones and Eddie Lampert all ditching the Empire State for Florida...a state which brings not only pristine beaches and year-round golf weather but also the added benefit of a 0% personal income tax rate. 

Jerome Powell, President Trump’s nominee to head the Fed, has released the text of remarks he’ll deliver Tuesday in a confirmation hearing before the Senate Banking Committee.

Powell said he expected the central bank to continue raising its benchmark interest rate and trimming its balance sheet under his leadership, but had some pointed comments over deregulation, economic stability, and the plunge protection team...

Via The Fed,