Stocks Are Crashing – Dow Dumps 900 Points, Banks Battered

December 19, 2018@2:07 PM TFP Editor 0

Not only “not dovish enough” but Powell confirmed that the balance sheet normalization will continue on auto-pilot (also tightening financial conditions)… Stocks don’t like it… Dow future are down 900 points from their post-fed spike. The entire equity market is being taken down… And banks are dumping…   Read on ZeroHedge

Facebook’s biggest problem is that I can stop using it — and be just fine

December 19, 2018@1:51 PM TFP Editor 0

I’m not deleting Facebook. But I’m content not using it as much in the future, and that’s the company’s bigger problem. Facebook needs oxygen to grow. When users engage with their friends, they give advertisers the eyeballs they so covet. And because Facebook offers so much targeting data with such a massive audience, brands just keep increasing their spending. It not just advertisers using that data. According to the latest New York Times expose on Facebook’s data-sharing practices, “more than 150 companies — most of [Read More]

Centre to seek interim payout from Reserve Bank: Subhash Chandra Garg

December 19, 2018@1:48 PM TFP Editor 0

A day after Union Finance Minister Arun Jaitley asserted that the government did not need the Reserve Bank of India’s (RBI’s) money to bridge the fiscal gap, Economic Affairs Secretary Subhash Chandra Garg said on Wednesday an interim dividend would be sought from the central bank. Garg also said the composition and structure of the expert committee on the Economic Capital Framework, which would determine the appropriate level of reserve the RBI should hold, had almost been agreed upon. He also said the Supplementary [Read More]

Treasury Drops Sanctions Against Rusal After Striking Deal With Russian Oligarch

December 19, 2018@1:42 PM TFP Editor 0

Offering some relief to industrial firms in the US and Europe, which have struggled with higher aluminum prices (on top of Trump’s tariffs on aluminum entering the US), the Treasury announced on Wednesday that it has struck a deal with Russian billionaire Oleg Deripaska to remove sanctions on Rusal, En+ Group Plc and JSC EuroSibEnergo in exchange for Deripaska reducing his ownership stake in each company below 50%, committing to a “complete overhaul” of each company’s board, and agreeing to “unprecedented transparency” (including agreeing to [Read More]

Fed raises rates but cuts 2019 forecast

December 19, 2018@1:32 PM TFP Editor 0

Image copyright Reuters Image caption The Federal Reserve has been gradually raising interest rates since 2015 The Federal Reserve has raised interest rates again – but future increases may come at a slower pace. Officials at the US central bank voted to lift the Fed’s key interest rate by 0.25%, to a target range of 2.25%-2.5%. But estimates released on Wednesday show most members expect two rate increases in 2019 – not three, as previously forecast. The shift follows a downturn in US financial markets [Read More]