YPF CEO Miguel Galuccio tells FT the company is close to an agreement with Chevron (CVX -0.4%) to get around the asset freeze that has thrown into question plans to jointly develop the giant Vaca Muerta shale formation. A successful deal would be a boost to CVX in Latin America, where it has been hit with a $19B environmental damages bill in Ecuador, and to Argentina’s hopes of developing its shale resources. [View news story]
I don't have a problem with oil companies, where did I say that? I do have a problem with companies not paying what they owe specially after a court dictated it. Whether they are oil, etc is irrelevant.
YPF CEO Miguel Galuccio tells FT the company is close to an agreement with Chevron (CVX -0.4%) to get around the asset freeze that has thrown into question plans to jointly develop the giant Vaca Muerta shale formation. A successful deal would be a boost to CVX in Latin America, where it has been hit with a $19B environmental damages bill in Ecuador, and to Argentina’s hopes of developing its shale resources. [View news story]
"where it has been hit with a $19B environmental damages bill in Ecuador"
A bill they haven’t paid and it's very difficult to enforce. Most likely Chevron will never pay it so I don't know what the drama is all about.
They are literally vultures. Leaving their shit here and there and eating the carcasses of other companies (i.e.: Repsol).
Coca-Cola (KO +0.5%) plans to increase its investment in Indonesia with the growth potential in the nation very promising. The company sees spending $700M on capital plans and marketing over the next three years. [View news story]
And the health bill of this “promising market” goes for the Indonesians. That’s the best part.
"When private equity works, it really works," says Stephen Schwarzman on the Blackstone (BX +7.2%) earnings call. Indeed. Once high-water marks are hit, carried interest goes right to the bottom line ... and they're getting hit. For Q4, RCI in P-E was $45.5M vs. -$28.4M a year ago, in Real Estate, $91.1M vs. $3.5M, in Hedge-fund solutions, $76.3M vs. $4.1M. [View news story]
And being massively leveraged And set up the SPVs in tax-haven jurisdictions And streamline all processes so there is a very small team managing the portfolio of assets and thus the fortunes and lives of thousands. So the operational costs are pretty much the hedges you need to put in place to protect your fat bonuses if you get them in a non-USD currency. And having a presidential ex-candidate formed in the industry thinking that he is very clever because he made a fortune in an industry with this dynamic. Well, with the latter it could have worked even better had he won.
No rocket science here: Nothing drops to the bottom line of consumer confidence numbers like smaller paychecks, and that's what Americans are seeing in 2013 thanks to higher payroll and income taxes. Today's 58.6 read missed expectations by a mile and the outlook for employment fell as well, with those anticipating more jobs declining to 14.3% from 17.9%. The XLY slides 0.8%, the XRT -0.7%. [View news story]
Not the best comparison tbh. Corporate debt is very different that sovereign debt. A debt in a company is a put option they sell to the best bid. How can you take over a government if it fails? What are the assets beyond some gold here and there? The government IP, patents?
Comparing governments to corporations like they can be run in the same way is something that politicians, specially republicans, love to make. They are very different entities and being successful at running one doesn’t make anyone successful at running the other. Starting with the fact that governments are not there to make profit but to actually take a cut on any value generated in its jurisdiction.
No rocket science here: Nothing drops to the bottom line of consumer confidence numbers like smaller paychecks, and that's what Americans are seeing in 2013 thanks to higher payroll and income taxes. Today's 58.6 read missed expectations by a mile and the outlook for employment fell as well, with those anticipating more jobs declining to 14.3% from 17.9%. The XLY slides 0.8%, the XRT -0.7%. [View news story]
Someone needs to pay for the enormous debt of the country. It’s either taxes or inflation which btw both has the same effect in the paychecks.
Starbucks (SBUX) reportedly will hold back $158M pegged for investments in the U.K. after comments from Prime Minister David Cameron rubbed the company the wrong way. Mr. Cameron claimed the coffee giant must "wake up and smell the coffee" on the issue of tax avoidance. Starbucks had said it will review its tax payment policy, but is feeling a bit singled out in the region. [View news story]
I agree. It’s not about restricting immigration to poles, Spaniards, etc. They can come and work and do what they want. My point is that SBUX sell themselves as a big contributor to the economy when in fact they are not. They keep rents extremely high in the high streets making for a very non-diverse ecosystem. It’s all chains now, the small merchant cannot afford being there. It’s easy to connect the dots now, they can probably afford be in the most expensive roads in the UK selling shitty items for £2.99 because they squander all the money away. Keep competition away by not paying taxes. What is the net gain here?
Starbucks (SBUX) reportedly will hold back $158M pegged for investments in the U.K. after comments from Prime Minister David Cameron rubbed the company the wrong way. Mr. Cameron claimed the coffee giant must "wake up and smell the coffee" on the issue of tax avoidance. Starbucks had said it will review its tax payment policy, but is feeling a bit singled out in the region. [View news story]
They serve bad coffee, pay shitty wages and reduce their tax bills by questionable and very sophisticated loopholes. Most of their staff are foreigners any way (polish and more recently Spaniards) so it’s not that they are contributing a lot to the labour market.
Why welcoming then? The same apply to Costa and Nero btw but at least they serve better lattes.
News that Iranian warplanes fired on an unmanned U.S. drone in international airspace is a reminder of how quickly underlying tensions could turn into conflict. So much of the world’s oil either comes from or passes through the region that the prospect of war could cause serious jitters in world oil markets, but economic concerns still rule for now: Brent futures -0.4% to $106.81, WTI -0.3% to $84.81. [View news story]
Interesting. They preferred to fire on it instead of hack it.
FRBNY President Dudley - speaking at a conference about distressed real estate - says housing has failed to respond adequately to monetary policy and remains a key impediment to economic growth. We'll ask again (previous): What planet are the Fed's QE boosters living on (I, II, III)? [View news story]
Another way of saying that monetary policy has failed to trigger another housing bubble.
Gold's performance over the past year (flat) actually isn't so bad given the dollar has risen 12%, according to JPMorgan's gold team. Still the group remains cautious on the metal and miners (especially amidst reporting season) as declining inflation rates suggest monetary stimulus isn't as forceful as commonly believed. [View news story]
JPM are the biggest manipulators of metals so better listen to them.
The Pentagon reportedly will send a squadron of Lockheed Martin's (LMT) F-22 fighter jets on a flight to Japan, indicating the F-22's problems are being solved and that restrictions on the plane's use likely will be lifted. The Air Force says breathing problems experienced by the planes' pilots were due to a lack of oxygen provided to pilots. [View news story]
There might be many reasons. Oxygen levels could have been ok but the pilots were farting way too much increasing the level of butane in the cockpit.
I know they have a diet rich in protein which normally increases the flatulence in humans.
Since the Court upheld Obamacare, small business owners have gone from denial to outright anger. Many entrepreneurs are focusing on figuring out what moves they can make to gum up the works and prove healthcare reform was a bad idea and offer a case study on why it will fail. Some of the top threats: Firing workers instead of hiring, stop providing health insurance altogether and pay the $2K penalty, or even going so far as to shutter their businesses. [View news story]
Life expectancy in Canada (overall): 80.7 Life expectancy in USA (overall): 78.2
It looks to me like a terrific deal for the Canadians if you believe, obviously, that there is strong correlation between health care and life expectancy.
Despite evident troubles now, Jim Rogers is not particularly concerned about the markets in 2012, it being an election year. The price will be paid in 2013 and 2014, he says, and it will be worse than 2008 because debt levels are higher now. "If you are not worried about 2013, please ... get worried." Just a thought, but 2008 being an election year didn't help things then. [View news story]
The whole credit crunch started in summer 2007, one year earlier than the elections with the market bottoming in 2009.
YPF CEO Miguel Galuccio tells FT the company is close to an agreement with Chevron (CVX -0.4%) to get around the asset freeze that has thrown into question plans to jointly develop the giant Vaca Muerta shale formation. A successful deal would be a boost to CVX in Latin America, where it has been hit with a $19B environmental damages bill in Ecuador, and to Argentina’s hopes of developing its shale resources. [View news story]
Btw I don't mind walking.
YPF CEO Miguel Galuccio tells FT the company is close to an agreement with Chevron (CVX -0.4%) to get around the asset freeze that has thrown into question plans to jointly develop the giant Vaca Muerta shale formation. A successful deal would be a boost to CVX in Latin America, where it has been hit with a $19B environmental damages bill in Ecuador, and to Argentina’s hopes of developing its shale resources. [View news story]
A bill they haven’t paid and it's very difficult to enforce. Most likely Chevron will never pay it so I don't know what the drama is all about.
They are literally vultures. Leaving their shit here and there and eating the carcasses of other companies (i.e.: Repsol).
Coca-Cola (KO +0.5%) plans to increase its investment in Indonesia with the growth potential in the nation very promising. The company sees spending $700M on capital plans and marketing over the next three years. [View news story]
"When private equity works, it really works," says Stephen Schwarzman on the Blackstone (BX +7.2%) earnings call. Indeed. Once high-water marks are hit, carried interest goes right to the bottom line ... and they're getting hit. For Q4, RCI in P-E was $45.5M vs. -$28.4M a year ago, in Real Estate, $91.1M vs. $3.5M, in Hedge-fund solutions, $76.3M vs. $4.1M. [View news story]
And set up the SPVs in tax-haven jurisdictions
And streamline all processes so there is a very small team managing the portfolio of assets and thus the fortunes and lives of thousands. So the operational costs are pretty much the hedges you need to put in place to protect your fat bonuses if you get them in a non-USD currency.
And having a presidential ex-candidate formed in the industry thinking that he is very clever because he made a fortune in an industry with this dynamic. Well, with the latter it could have worked even better had he won.
No rocket science here: Nothing drops to the bottom line of consumer confidence numbers like smaller paychecks, and that's what Americans are seeing in 2013 thanks to higher payroll and income taxes. Today's 58.6 read missed expectations by a mile and the outlook for employment fell as well, with those anticipating more jobs declining to 14.3% from 17.9%. The XLY slides 0.8%, the XRT -0.7%. [View news story]
Comparing governments to corporations like they can be run in the same way is something that politicians, specially republicans, love to make. They are very different entities and being successful at running one doesn’t make anyone successful at running the other. Starting with the fact that governments are not there to make profit but to actually take a cut on any value generated in its jurisdiction.
No rocket science here: Nothing drops to the bottom line of consumer confidence numbers like smaller paychecks, and that's what Americans are seeing in 2013 thanks to higher payroll and income taxes. Today's 58.6 read missed expectations by a mile and the outlook for employment fell as well, with those anticipating more jobs declining to 14.3% from 17.9%. The XLY slides 0.8%, the XRT -0.7%. [View news story]
Starbucks (SBUX) reportedly will hold back $158M pegged for investments in the U.K. after comments from Prime Minister David Cameron rubbed the company the wrong way. Mr. Cameron claimed the coffee giant must "wake up and smell the coffee" on the issue of tax avoidance. Starbucks had said it will review its tax payment policy, but is feeling a bit singled out in the region. [View news story]
Starbucks (SBUX) reportedly will hold back $158M pegged for investments in the U.K. after comments from Prime Minister David Cameron rubbed the company the wrong way. Mr. Cameron claimed the coffee giant must "wake up and smell the coffee" on the issue of tax avoidance. Starbucks had said it will review its tax payment policy, but is feeling a bit singled out in the region. [View news story]
Why welcoming then? The same apply to Costa and Nero btw but at least they serve better lattes.
News that Iranian warplanes fired on an unmanned U.S. drone in international airspace is a reminder of how quickly underlying tensions could turn into conflict. So much of the world’s oil either comes from or passes through the region that the prospect of war could cause serious jitters in world oil markets, but economic concerns still rule for now: Brent futures -0.4% to $106.81, WTI -0.3% to $84.81. [View news story]
FRBNY President Dudley - speaking at a conference about distressed real estate - says housing has failed to respond adequately to monetary policy and remains a key impediment to economic growth. We'll ask again (previous): What planet are the Fed's QE boosters living on (I, II, III)? [View news story]
Gold's performance over the past year (flat) actually isn't so bad given the dollar has risen 12%, according to JPMorgan's gold team. Still the group remains cautious on the metal and miners (especially amidst reporting season) as declining inflation rates suggest monetary stimulus isn't as forceful as commonly believed. [View news story]
The Pentagon reportedly will send a squadron of Lockheed Martin's (LMT) F-22 fighter jets on a flight to Japan, indicating the F-22's problems are being solved and that restrictions on the plane's use likely will be lifted. The Air Force says breathing problems experienced by the planes' pilots were due to a lack of oxygen provided to pilots. [View news story]
I know they have a diet rich in protein which normally increases the flatulence in humans.
Apple (AAPL): FQ3 EPS of $9.32 misses by $1.04. Revenue of $35B (+22% Y/Y) misses by $2.5B. 26M iPhones sold, 17M iPads, 4M Macs. Shares -5.5% AH. (PR). [View news story]
Since the Court upheld Obamacare, small business owners have gone from denial to outright anger. Many entrepreneurs are focusing on figuring out what moves they can make to gum up the works and prove healthcare reform was a bad idea and offer a case study on why it will fail. Some of the top threats: Firing workers instead of hiring, stop providing health insurance altogether and pay the $2K penalty, or even going so far as to shutter their businesses. [View news story]
Life expectancy in USA (overall): 78.2
It looks to me like a terrific deal for the Canadians if you believe, obviously, that there is strong correlation between health care and life expectancy.
Despite evident troubles now, Jim Rogers is not particularly concerned about the markets in 2012, it being an election year. The price will be paid in 2013 and 2014, he says, and it will be worse than 2008 because debt levels are higher now. "If you are not worried about 2013, please ... get worried." Just a thought, but 2008 being an election year didn't help things then. [View news story]