scott anderson

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DEUTSCHE BANK: Here's our plan to solve the European banking crisis

The country's financial sector is on the brink of collapse, and a referendum on constitutional reforms in October has the potential to topple prime minister Matteo Renzi's government and cause an unprecedented political crisis.<p>All of this has increased speculation that Italy could be the country to …

Yahoo's Patents Are a Pile of Junk, Report Says

Little has gone right for Yahoo, which is one reason the flailing tech giant decided this spring to sell off the bulk of its patent portfolio. Now it …

Rolls-Royce profits could get £1bn boost, CEO says

Rolls-Royce could boost its profitability by £1bn if tough targets, in addition to cost cuts already identified by the company, can be hit, according to chief executive Warren East.<p>Speaking at a briefing at Farnborough Airshow, Mr East he was “pleased” with the progress being made on his …

Burning Man disputes $2.8M bill for federal land use permit

LAS VEGAS (AP) — Burning Man organizers are disputing their $2.8 million bill from the federal government — the cost last year of hosting its popular …

China says U.S. deliberately misread WTO rules in steel subsidy spat | Reuters

SHANGHAI (Reuters) - China’s Commerce Ministry said on Wednesday the United States had deliberately misinterpreted World Trade Organization (WTO) rules after the U.S. Commerce Department found in favor of subsidy rates for Chinese steel.<p>An employee works at a steel factory in Dalian, Liaoning …

'Gold is calling BS' on our economic policy

You come out in favor of gold and you get maligned as some kind of doomsday-prepping, knuckle-dragging wingnut. Then you never get to go on TV. They don't invite the crazy gold guys on TV.<p>I've been long gold since 2005. Rode it all the way down from 2011 to 2016. If you ride something down 45%, you …

Saudi Arabia Is Getting Ready For 'Peace' In The Oil Market, For Now

A shake-up in the Saudi government over the weekend, which included the replacement of oil minister Ali al-Naimi by Khaled al-Faleh, signals that the Kingdom is ready for peace in the oil market.<p>Long serving oil minister Ali al-Naimi was the architect of Saudi Arabia’s policy to flood world markets …

The most powerful man in oil is out -- here's what comes next

Ali al-Naimi was the most powerful man in the oil business for two decades -- until this weekend.<p>As the oil minister of Saudi Arabia, in control of the largest proven crude reserves in the world, al-Naimi was the de-facto leader of OPEC.<p>At one point he held three key positions at the same time: …

Oil

Is American Oil 'Dead'? T. Boone Pickens Says Yes ... But Only For Now

Just a few months ago, the price of a barrel of crude oil reached a 30-year low. That price has inched up since then, but still, it remains 60 percent lower than it was in the summer of 2014.<p>Oil and gas companies once flush with cash have cut exploration and pulled up to three-quarters of their …

We could be in for an even wilder ride on oil prices now that a millennial Saudi prince is in charge

Saudi Arabia’s long-serving oil minister, Ali al-Naimi, lost his job this weekend. But while his successor is a respected technocrat, observers agree the real influence on oil prices will be the man already known as “the world’s most powerful millennial,” deputy crown prince Mohammed bin …

Oil

Midas touch gone, hedge fund industry's influence may be waning | Reuters

NEW YORK (Reuters) - Hedge fund manager David Einhorn has built a reputation on his ability to crater a company’s stock.<p>David Einhorn, president of Greenlight Capital speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid/File photo<p>His prescient short …