Just weeks after Ford idled four plants "due to slowing sales", GM and Fiat Chrysler announced today that they will idle seven plants across Canada and US as they work to reduce near-record high inventories amid weakening sales.
With an inventories-to-sales ratio above historical peaks (only beaten by huge spike in 2008 when sales stopped), the pain for automakers has only just begun...
While negotiations are ongoing regarding China's return of the undersea US drone that was confiscated by China last week, China has pushed back against U.S. President-elect Donald Trump’s claim that its military stole an American naval drone last week, even as the Philippines called the seizure off its coast, and which took place outside of the contested nine-dash line, “very troubling.”
Submitted by OIl & Gas 360 via OilPrice.com,
Proved oil and gas reserves down 11.8 percent and 16.6 percent, respectively, from year-end 2014.
EIA has downgraded its estimates of proved oil and gas reserves in the U.S., according to its Crude Oil and Natural Gas Proved Reserves, Year-end 2015 report, released today.
Following the shooting death of the Russian ambassador to Turkey, The US State Department has issued a travel 'Security message' warning US citizens to avoid the area near the Embassy compound "due to an ongoing security incident."
Ankara, #Turkey - ongoing security incident near US Embassy. All US citizens should avoid area near Embassy compound until further notice. pic.twitter.com/5EABdgBO4o
— Travel - State Dept (@TravelGov) December 19, 2016
Having recently (before the election) found that stock buybacks have tumbled to the lowest level in 5 years, coupled with the lowest amount of insider buying since 2011, this morning TrimTabs Investment Research reported what regular readers already know, namely that U.S. equity exchange-traded funds received a record $97.6 billion from Tuesday, November 8 through Thursday, December 15, promptly TrimTabs to ask if "investors are all-in on US stocks?"