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"Removed Without Warning": Ex-BP Chairman Blasts Abrupt Ouster As Wall Street Gets Spooked
"Removed Without Warning": Ex-BP Chairman Blasts Abrupt Ouster As Wall Street Gets Spooked
The abrupt Tuesday morning firing of BP Chairman Albert Manifold by the board certainly raised eyebrows, given his key role in the company's turnaround effort: unwinding years of underperforming green-energy bets and steering the oil major back toward its oil-and-gas business.
The board cited "serious concerns" tied to "important governance standards, oversight, and conduct" as the core reason for Manifold's removal. But the explanation remains vague, leaving Wall Street desks wondering exactly what prompted such a sudden and...
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Aug 25, 2026 / Tyler Durden
New Home Sales Collapsed In July As Consumer Confidence Hit 7-Month Lows
New Home Sales Collapsed In July As Consumer Confidence Hit 7-Month Lows
The Conference Board's measure of Americans' Consumer Confidence fell from a revised-lower 90.2 to 89.4 in August (below the 90.2 exp) - the lowest since January.
Interestingly, under the hood, we saw Expectations plunge to January lows while Present Situation spiked from 5 year lows...
“Consumer confidence moderated slightly in August for a second consecutive month,” said Dana M Peterson, Chief Economist, The Conference Board.
“The Expectations Index slipped further into negative territory, which was offset by a moderate rise in...
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Feb 23, 2026 / Tyler Durden
Core US Factory Orders Better Than Expected In December
Core US Factory Orders Better Than Expected In December
While sentiment is sagging to multi-year lows, 'hard' data is helping support growth forecasts (GDPNOW) and holding stocks at record highs.
This morning we get a fresh glimpse at America's manufacturing segment - hard data - with Orders data (which is expected to drop MoM in December).
After surging higher in November (+2.7% MoM), analysts expected US Factory Orders to drop 0.6% MoM in December but the actual print disappointed, dropping 0.7% MoM
Source: Bloomberg
Interestingly, Core Factory Orders rose 0.4% MoM - better than...
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May 10, 2026 / Tyler Durden
Global Fertilizer Shortage Means Spring Planting Season Disaster In The Northern Hemisphere
Global Fertilizer Shortage Means Spring Planting Season Disaster In The Northern Hemisphere
Authored by Michael Snyder via The Economic Collapse blog,
Nobody is going to be able to save the spring planting season in the northern hemisphere now, and that is really bad news because according to the UN the number of people in the world experiencing acute hunger was already at an all-time high even before the war began. A historic global food crisis has been escalating for years, and now farmers all over the northern hemisphere either can’t get...
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