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Meet Michael Corbat, The Former NFL Prospect Who Just Became The CEO Of Citi
The shock news today: Vikram Pandit has steped down as CEO of Citi. The new CEO? Michael Corbat, who had been the head of the company's Europe, MIddle East, Africa business. He was widely seen as a...
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Inflation Was A Bit Higher Than Expected In September
UPDATE: Consumer prices rose 0.6 percent in September from the month before, just ahead of expectations of a 0.5 percent rise. Ex-food and energy, the index was up 0.1 percent, versus expectations of a...
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Europe Has Another Big Crisis, And It's MUCH Bigger Than Sovereign Debt
Europe is in crisis, and it's not just about occasional flare-ups in peripheral sovereign debt markets anymore. In fact, it's really never been about that. The European continent has for decades since...
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Citi's Stock Performance Under Vikram Pandit
Most of the decline was not his fault, but... Citi lost 90% of its value under Vikram Pandit. And actually, given that Citi could have been nationalized or gone totally bust during the crisis, this...
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Industrial Production Doubles Expectations, Up 0.4 Percent
UPDATE: Industrial production rose 0.4 percent in September, beating expectations of a 0.2 percent rise. ----------------- ORIGINAL: Minutes away from U.S. industrial production numbers at 9:15 AM ET....
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CHART OF THE DAY: Spanish Bonds Are Having A Gigantic Day
Spain is having a monster day after Moody's concluded its October review of the country without downgrading its government debt – and bond yields are still heading lower well into the afternoon there....
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Last Night's Debate Showed Obama Doesn't Have Any Solutions, He Just Doesn't...
With the nation $16 trillion in debt, a jobs gap that isn’t closing, falling incomes, and declining competitiveness, this is President Obama’s agenda, as explained during last night’s debate with Mitt...
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Foxconn Explains Cause Of iPhone 5 Shortages That Are Hammering Apple's Stock
A Foxconn executive has acknowledged that the company is having trouble making enough iPhone 5s--creating a supply problem that has contributed to Apple's falling stock price and led to analysts...
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Gallup: The Unemployment Rate Is Collapsing
More evidence that the official 7.8% unemployment rate is not the wild outlier people initially thought. This just in from Gallup: -------- WASHINGTON, D.C. -- U.S. unemployment, as measured by Gallup...
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Any Investor Who Watched Mitt Romney Answer This Question Would Short His...
One of the most telltale signs that a company is about to blow up is when its CEO gets indignant at anyone who dares question his detail-free assertions that the numbers will work. Alarmingly often,...
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How Robots Manipulate Natural Gas Prices
In the past few months, predatory high frequency trading (HFT) tactics have targeted natural gas so hard, that traditional traders are abandoning the trade entirely, says the Wall Street Journal. And...
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YARDENI: I Think I've Figured Out What's In ECRI's Top Secret Index, And...
The proprietors of the Weekly Leading Index (WLI) at the Economic Cycle Research Institute (ECRI) have been insisting for several months that a recession is imminent. The problem is that their index...
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There's A Really Good Reason Offshore Drilling Is Down Under Obama
Last night, one of the most contentious portions of the debate was the back and forth between the president and Mitt Romney over energy policy. Obama correctly pointed out that domestic oil production...
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Why The Fed's Plan To Save The Housing Market Isn't Working That Well
When the Fed announced QE-infinity in September, it said it would purchase $40 billion of mortgage backed securities per month. The aim was to lower the mortgage rates offered to consumers. But...
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France's President Wants To Ban Homework For Kids
I wish I was making this up, and it certainly sounds like it's something straight out of The Onion, yet here it is, on a Washington Post headline: French president pushing homework ban as part of ed...
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GALLUP: Mitt Romney Now Has A Gigantic 6-Point Lead Over Obama
Republican nominee Mitt Romney took his biggest lead yet in today's Gallup daily tracking poll, expanding his lead over President Barack Obama to an astounding 6 points among likely voters. Today's...
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REPORT: Europe's Big Plan To Fix The Banking System May Be Illegal
According to a report from the Financial Times, the big idea on the table right now to stem the eurozone banking crisis may be illegal. The plan in question is delegating to the ECB the role of sole...
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Americans Have No Idea What Big Government Actually Means
Bryan Caplan took me to task for trying to separate size of government from other interventionist policies: The truth is that size of government and economic freedom are inextricably connected. Any...
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This Is The Biggest Economic Story In The World
This is really the big story of the moment: The full-on comeback in everything related to consumers and households. Let's just break it down really fast. 1. New housing starts are shooting straight up....
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The Housing Market Is Starting To Heat Up In A Bad Way
Privately-owned housing starts in September were at a seasonally adjusted annual rate (SAAR) of 872,000. This is 15.0 percent (±12.1%) above the revised August estimate of 758,000 and is 34.8 percent...
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