Global Intelligence
By Tyler Durden, Update (1400ET): UK authorities are aggressively pursuing assets belonging to Roman Abramovich to such an intense degree that they have even decided to freeze £10 billion ($13.1 billion) of his assets. Here’s the FT with more: The UK is to freeze an estimated £10bn of assets held by two longstanding business associates of Roman Abramovich, […]
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By Tyler Durden, Was that it for the oil plunge? Having nearly reversed all of the post-Ukraine gains following its latest 4% drop on Monday, oil staged a powerful recovery on Tuesday as traders weighed China’s demand outlook following the easing of some virus restrictions in the financial hub of Shanghai, while tensions over the […]
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By Tyler Durden, California electricity rates are increasing far faster than the rest of the country. Last year, electricity prices rose 1.7 times faster than the rest of the county, and residential prices jumped 2.7 faster. These increases are terrible news for residents who want to swap their combustion engine vehicles for electric ones. […]
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By Tyler Durden, On Saturday, rating agency S&P cut its rating on Russia to “Selective Default” on Saturday after the Russian government said last week that it had repaid about $650 million in dollar-denominated debt in rubles (the payment was contractually due in dollars but Russia claims that sanctions make payment impossible). The downgrade to what is […]
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By Tyler Durden, Over the past few months we have repeated a statement which – because it is controversial and because it is true – sparked feigned outrage among the financially illiterate macrotourists (which these days is the vast majority of the financial commentariat): we said that in light of the galloping inflation which has […]
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By tyler Durden, Update(15:55ET): Nothing to see here… only the President of the United States speaking at an emergency summit of NATO heads making somewhat overly casual sounding references regarding likely massive energy and food shortages… “It’s going to be real,” Biden said at a news conference in Brussels. “The price of the sanctions is not just imposed […]
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By Tyler Durden, Over the past week, we first noted that amid broad economic sanctions, there were numerous Russian gold refiners on the LBMA’s “Good Delivery” list, and subsequently we said that this “begged the question as to what would the LBMA do about the large number of Russian gold refineries on the LBMA Good Delivery Lists, refiners which […]
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By Tyler Durden, Yesterday, when reporting that both Visa and MasterCard had suspended operations in Russia just hours after Ukrainian President Volodymyr Zelenskiy called on the companies to halt all business in Russia during a video call with U.S. lawmakers, we said that “with this latest escalation in Russia’s comprehensive expulsion from the western financial system, expect […]
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Authored by Michael Snyder via TheMostImportantNews.com, In a year that has been filled with so many mysteries already, I have another very odd one to share with you. Emergency rooms are filled to overflowing all over America, and nobody can seem to explain why this is happening. Right now, the number of new COVID cases in the […]
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From ZH When GM earlier this year started recalling Bolts, it issued a warning to owners of the EV: don’t charge your car battery to 100 percent. Normally, this would be easy enough to do. But what if your charger got hacked? Last year, researchers from the Southwest Research Institute in Texas successfully hacked the most popular charging […]
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