With the Murdoch family's push to buy out Sky News stalled in the UK as members of parliament raise concerns about his fitness for ownership given the myriad sexually harassment and abuse scandals at Fox News, it appears the Australian-born octogenarian TV mogul may be setting his sights on a new prize: CNN.
When it comes to the last financial crisis, few timed the peak quite as well as Sam Zell, who sold his Equity Office Properties Trust, the largest office REIT, to Blackstone in 2007, literally days before the bottom fell out of the market. So, with Goldman dying to know when the next crash will take place, it is no surprise that it picked Zell as one of the people to ask.
There is a certain, and very tangible, irony in the central banks' response to the Global Financial Crisis, which was first and foremost the result of unprecedented amounts of debt: it was to unleash an even greater amount of debt, or as BofA's credit strategist Barnaby Martin says, "the irony in today's world is that central banks are maintaining loose monetary policies to generate inflation…in order to ease the pain of a debt "supercycle"…that itself was partly a result of too easy (and predictable) monetary policies in prior times."
Authored by Gregory Brew via OilPrice.com,
Despite the recent market rally and current bullish streak in oil prices, the years-long competition for market share between OPEC and U.S. shale producers shows no sign of abating, and will likely continue for the next several years at least.
Tracking the lagged rebound in WTI prices, the US oil rig count rose by 9 this week - the biggest weekly rise since June.
And with production at record highs, we suspect OPEC will need to jawbone some more...
And total US Crude output just hit a new record high...