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Tuesday, January 16, 2018

Ford Plans $11 Billion Investment, 40 Electric Vehicles by 2022

Ford Motor Co will significantly increase its planned investments in electric vehicles to $11 billion by 2022 and have 40 hybrid and fully electric vehicles in its model lineup, Chairman Bill Ford said on Sunday at the Detroit auto show.

Of the 40 electrified vehicles Ford plans for its global lineup by 2022, 16 will be fully electric and the rest will be plug-in hybrids, executives said.

3 Lies Bitcoin Skeptics Tell Themselves

Bitcoin’s amazing price rise in 2017 led to everyone and their mothers commenting on the topics of blockchain technology and cryptocurrencies over the past few months, which means there were plenty of skeptics around who wanted to tell everyone about how bitcoin is a fraud that has no underlying value at all.
Whether they’re claiming Ripple is a fork of Bitcoin or GPUs are still useful for mining bitcoin, so-called “experts” are responsible for a lot of misinformation regarding this new technology in the mainstream press. This is possibly due to many of the people quoted in various media outlets specializing in more general areas of study rather than just Bitcoin itself.

Blame the deluded board members for Carillion's collapse

Chairman Philip Green should have spent less time wondering about the long-terms risks from Brexit and more time addressing the upfront and present dangers from cost over-runs on three big jobs: new hospitals in Liverpool and Smethwick plus the Aberdeen bypass.
The walk-on role played the auditors, KPMG, will go under the Financial Reporting Council’s microscope in due course. But the hard fact is that Carillion directors were boasting in March last year of having “substantial liquidity with some £1.5bn of available funding” yet the company ran out of money 10 months later.

Friday, January 12, 2018

Judge rules in favor of Trump over control of Consumer Financial Protection Bureau

A federal judge ruled late Wednesday in favor of President Donald Trump and the White House over the control of the national financial watchdog agency, the Consumer Financial Protection Bureau.
In a 46-page opinion, Judge Timothy Kelly denied Leandra English, the deputy director of the CFPB, a preliminary injection that would have stopped Mick Mulvaney, Trump's budget director, from taking on a second role as acting director of the agency.
The conflict arose late last month when Richard Cordray, named by President Barack Obama to lead the CFPB, stepped down and named English as his replacement. In response, the White House named Mulvaney as the replacement for Cordray. 

Greece to Remain Under Lenders' Supervision Until 2059

In a report about Greece's new omnibus bill and a potential break from its bailout in August 2018, German newspaper Handelsblatt claims the country will remain under lenders' supervision for another 40 years.''

Back from the dead: Circuit City to relaunch as online store in February

Circuit City CEO Ronny Shmoel announced the brand relaunch at the Consumer Electronics Show in Las Vegas on Monday, stating it will focus on the retail verticals of e-commerce, mobile, technology, omni-channel commerce.
"Under new ownership, Circuit City will relaunch with a dynamic, social-focused e-commerce site, along with various concepts of innovative retail stores, and unprecedented e-commerce technology offerings," the company said.

The Same Democrats Who Denounce Donald Trump as a Lawless, Treasonous Authoritarian Just Voted to Give Him Vast Warrantless Spying Powers

The inescapable conclusion from all of this, they have relentlessly insisted, is that Trump is a lawless authoritarian of the type the U.S. has not seen in the Oval Office for decades, if ever: a leader who has no regard for Constitutional values or legal limits and thus poses a grave, unique and existential threat to the institutions of American democracy. Reflecting the severity of these fears, the anti-Trump opposition movement that has coalesced within Democratic Party politics has appropriated a slogan – expressed in the hashtag form of contemporary online activism – that was historically used by those who unite, at all costs, to defeat domestic tyranny: #Resistance.

Navy SEALs Send POWERFUL Message to Trump, Leaving Obama FURIOUS

Former President Barack Hussein Obama is facing some humiliating situations.
He is very different when compared to President Donald Trump.
Almost in every way, but especially regarding the military members.
Trump has shown true respect and honor towards the men and women in uniform who are risking everything for this country. Time and time again, Trump has shown appreciation for what they are doing.
In return, he gets their loyalty, honor, and praise. Obama couldn’t accomplish that in eight years and Trump managed to do it only one year. To be exact, even in the first month in the office, he was the most appreciated commander-in-chief that America has seen.

US December CPI 0.1% m/m vs +0.1% m/m expected

  • Prior was +0.4%
  • CPI y/y +2.1% vs 2.1% exp
  • Prior 2.2%
  • Ex food and energy 1.8% y/y vs 1.7% exp
  • Prior ex food and energy 1.7%
  • Ex food and energy +0.3% m/m vs +0.2% exp
  • Real average weekly earnings +0.7% y/y vs +0.8% prior 
  • Real avg hourly earnings y/y +0.4% vs +0.2% prior 
The numbers on the surface area showing a pick up in the ex food and energy (core inflation data). The MoM and YoY ex food and energy are 0.1% greater than the expectations.  Better news there but still core below the 2% level.  .  The bad is the real weekly earning YoY are still very low at 0.7% although hourly earnings moved higher to 0.4% from 0.2%, they are still low.

US December retail sales control group +0.3% vs +0.4% expected

  • Prior control group +0.8% (revised up to +1.4%)
  • Advance retail sales +0.4% vs +0.5% exp
  • Prior retail sales +0.8% (revised to +0.9%)
  • Ex autos +0.4% vs +0.3% exp
  • Prior ex autos +1.0% (revised to +1.3%)
  • Ex autos and gas +0.4% vs +0.4% exp
  • Prior ex autos and gas +0.8% (revised to +1.2%)
The story here is the November revisions. The headlines were a touch softer but it's completely wiped out when you factor in the very large upward revisions to November, especially to the control group.
Consumers were feeling very good heading into the holiday season and spent heavily. Expect to see upward revisions to Q4 GDP estimates and some positive notes about Q1 and beyond.

The odds of a Fed hike in March (and more beyond) have also ticked higher.