(Reuters) - Playboy Enterprises [ICONAP.UL], the owner of Playboy magazine, is exploring a sale, a source familiar with the matter told Reuters, in a move that comes after the storied magazine stopped publishing nude photos of women and put up the iconic Playboy Mansion up for sale.
(Reuters) - Activist hedge fund Starboard Value LP moved on Thursday to overthrow the entire board of Yahoo Inc , including Chief Executive Marissa Mayer, who has struggled to turn around the company in her nearly four years at the helm.
LONDON (Reuters) - Blackrock said on Thursday it was testing new financial messaging app Symphony, the first big global asset manager to confirm it is moving ahead with the system designed to address concerns over security and costs of monitoring staff online.
DETROIT (Reuters) - In August of 2009, after ruptured airbag inflators in Honda vehicles were linked to least four injuries and a death, the automaker quietly requested a design change and did not notify U.S. regulators, Honda confirmed in response to inquiries from Reuters.
LONDON (Reuters) - Rising risks in developed countries after a string of deadly attacks are driving up demand for specialist insurance to cover losses stemming from such events, putting upward pressure on premiums, underwriters and brokers say.
FRANKFURT (Reuters) - Volkswagen and its Porsche unit on Thursday said they were recalling more than 800,000 VW Touareg and Porsche Cayenne sports utility vehicles as a precautionary measure, to fix a potentially faulty component on the pedal mechanism.
While Georgia has been caught up recently in a major pipeline competition, with Russia, Azerbaijan and Iran all making a play for the action in this small, strategically located energy-transit hub, some men in the central Georgian village of Ruisi have been busy with a pipeline project of their own.
They lay a kilometer-long, underground pipeline to leach into the British Petroleum-operated, more than 800-kilometer-long Western Route Export Pipeline, which carries 100,000 barrels of oil daily from Azerbaijan's Caspian Sea coast to Georgia's Black Sea coast. Known as the Baku-Supsa pipeline for the terminals at both ends, the conduit was the first link in the country's energy-export network.
The suspects built their own terminal in Ruisi, about a 20-minute drive west of Joseph Stalin's birthplace, Gori, and created a parallel world of shipping, processing and retailing the Caspian Sea oil. A police video showed rows of large tanks used to collect the stolen oil. A makeshift tap was installed on the body of the Baku-Supsa pipeline to turn off and on the flow into its new, mini- branch.
From Ruisi, the oil was loaded onto trucks and camouflaged as vegetables - cabbage, to be exact, police said - and driven about 90 minutes east to the capital, Tbilisi. A makeshift refinery there then turned the cab ...
The name of Russell Clark and his Horseman Global hedge fund are well-known to regular readers: Clark is perhaps best known not only for having run a net short book since early 2012...
... but for being consistently profitable and successful during this period, a time when most of his "pedigree" peers have been underperforming the market and losing money hand over fist.
In fact, based on its size, one can probably argue that Horseman Global is the most successful hedge fund of 2016, if not of the entire decade.
His latest letter to clients can be found here.
The reason we bring Horseman Global up is not because his latest letter is out - we will share that once we have it - but because Russell Clark has released a fascinating white paper which seeks to answer the most important question of all: not if there is a bubble - by now everyone, even the central bankers, knows we are currently living inside the biggest asset bubble in history, but when does it burst.
This is what he says in a letter that looks at the curious relationship between peaks in the Nikkei ant the S&P500:
Submitted by Charles Hugh-Smith of OfTwoMinds blog,
If the four structural trends highlighted below don't reverse, the middle class is heading for extinction.
Everyone knows the middle class is fading fast. I've covered this issue in depth for years, for example: Honey, I Shrunk the Middle Class: Perhaps 1/3 of Households Qualify (December 28, 2015) and What Does It Take To Be Middle Class? (December 5, 2013)
This raises an obvious question: what killed the middle class? While many commentators try to identify one killer cause (for example, the U.S. going off the gold standard in 1971), the die-off of the middle class is more akin to the die-off in honey bees, which is the result of the interaction of multiple causes (factors that increase the toxic load dumped on bees and other pollinators by modern agriculture).
Longtime collaborator Gordon T. Long and I discuss the decline of the middle class and other key topics in a new 29-minute video How did that work out for you?
So where do we begin this detective story? With the engine of all real prosperity, productivity. This chart reveals that wages stopped rising with productivity around 1980.
The market expectations (from Bloomberg) were 260,000 to 272,000 (consensus 268,000), and the Department of Labor reported 265,000 new claims. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 259,500 (reported last week as 268,000) to 259,750. The rolling averages generally have been equal to or under 300,000 since August 2014.
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