As after the last crisis, fueled by ultra-cheap money, they're taking financialization of the housing market to the next level: Now it's buy-to-rent, build-to-rent, sale-leasebacks, and buy-to-sell.Wolf Richter is the founder of Wolf Street Corp and the publisher of WolfStreet.com. Wolf has over twenty years of C-level operations experience, including turnarounds and a VC-funded startup. He has a...Read More
Charles Hugh Smith writes the Of Two Minds blog which covers an eclectic range of timely topics: finance, housing, Asia, energy, long-term trends, social issues, health/diet/fitness and sustainability. From its humble beginnings in May 2005, Of Two Minds now attracts some 200,000 visits a month. Charles also contributes to AOL's Daily Finance site and has written eight books, most recently Money a...Read More
"As a platform for positivity, we want to make it easy to find culturally-appropriate Halloween ideas, and bring awareness to the fact that costumes should not be opportunities to turn a person's identity into a stereotyped image."Continue...Read More
As if you needed more video evidence that Australia has devolved into a full-blown police state.Continue...Read More
President Donald Trump and former Vice President Joe Biden spent most of last week's first Presidential debate trading insults and interrupting each other. The result was a debate with very little discussion of actual issues or policies.In one of the evening's few substantive exchanges, President Trump rightly criticized Vice President Biden for saying he would listen to the "scientists" in determ...Read More
McAfee is accused of earning "millions in income from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary."Continue...Read More
Permanent job losses are rising rapidly, and will keep climbing.Continue...Read More
"We did everything in our power to support a safe and sustainable reopening in the U.S. - from putting in place robust health and safety measures at our theatres to joining our industry in making a collective Continue...Read More
We wonder: Will the SEC demand that JP Morgan CEO Jamie Dimon put his reputation (and, possibly, his freedom) on the line to vouch for America's biggest megabank? Continue...Read More
Rebar buyers in Singapore continued to exhibit limited appetite for imported materials in the week to Monday October 5, with market sources saying prices had slipped due to the recent decline in global scrap prices.Offers for Turkish rebar were at $470-475 per tonne cfr Singapore on a theoretical weight basis, according to a major Singaporean buyer, which is down by $10-15 per tonne week on week....Read More
Buyers in the two biggest consumer markets have either been selling their holdings or borrowing against them. Continue...Read More
The outcome of the case could be "a further threat to the international perception of English institutions as being free from political interference, as well as the Bank of England's reputation abroad as a safe repository for sovereign assets."Continue...Read More
Nine U.S. states have logged record increases in COVID-19 cases over the last week, mostly in the upper Midwest and West where cooler weather is forcing more activities indoors.Continue...Read More
Turkish steel producers stepped away from the deep-sea scrap market on the first working day of the week, while simultaneously negotiating lower prices, sources said on Monday October 5.Steel mills in Turkey had booked three deep-sea cargoes at the end of last week, putting the HMS 1&2 (80:20) price at $284 per tonne cfr for European material and at $289 per tonne cfr for Balti...Read More
Tata Steel Europe has strongly denied reports that it will sell its UK-based asset to Chinese steel giant Jingye. This weekend numerous reports appeared in the British press indicating that Chinese steel company Hebei Jingye Group had expressed interest in acquiring Tata Steel's flat steelmaking asset, Port Talbot. Tata Steel called this information "speculative" in a comment to Fastmarkets on Mon...Read More
In a world buffeted by political and social "noise," sector expert Michael Ballanger outlines his strategy for maximizing the worth of his portfolio. Before I wade into my Q4 strategy analysis, I have to tell you that prior to last Tuesday's "debate," I was leaning toward a "neutral" investment strategy largely based upon the 2016 outcome where heavily favored Hillary Clinton was upset by the Tr...Read More
New Found Gold reported it intercepted 41.2 g/t gold over 4.75 meters and 25.4 g/t gold over 5.15 meters at its new Lotto Zone discovery at its Queensway Project in Newfoundland. Stock photoIn a news release, New Found Gold Corp. (NFG:TSX.V) announced assay results from the first hole drilled targeting its newly discovered high-grade gold Lotto Zone. The results are the first to be reported from...Read More
Hybrit, the fossil-free steel initiative joint venture by Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, has received 22 million Swedish Krona ($2.4m) from the Swedish Energy Agency for a comprehensive feasibility study, it said on Monday October 5. The pilot plant for the hydrogen direct reduction of iron ore started operation in Lule??, Sweden, on 31 August. P...Read More
Here are five Fastmarkets stories you might have missed on Monday October 5 that are worth another look.Tata Steel Europe has strongly denied reports that it will sell its UK-based asset to Chinese steel giant Jingye.After United States sanctions cut off supplies of microchips...Read More
Prices in the Black Sea export steel slab market softened in the week to Monday October 5 on the weakening of flat steel prices in the region as well as falling scrap costs in Turkey, which is one of the major sales outlets for CIS slab.The weekly price assessment for steel slab, export, fob Black Sea, CIS, was $445-460 per tonne on October 5, down week on week from $460-472 per tonne.Most recent...Read More