Category Archives: Daily Digest

Economy Fertilizer Soars as Top Nitrogen Plant Declares Force Majeure – Bloomberg Fertilizer prices are soaring after the world’s largest nitrogen facility had to declare a force majeure.  CF Industries Holdings Inc. said on Sept. 3 that it can’t fill orders from its Donaldsonville, Louisiana, nitrogen complex, which was closed ahead of Hurricane Ida, according…

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Economy Goldman Tells Hedge Funds How To Profit From Europe’s Gas Price Hyperinflation, Warns Of Blackouts – ZeroHedge After weeks of covering the remarkable, record hyperinflation in European gas prices, which have soared to such tremendous levels that protests against the price of electricity across Europe are a daily occurrence, it is hardly a secret…

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Economy China’s Oil Sale Is A Clear Message To OPEC+ – Oilprice.com China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move that Bloomberg called “an unprecedented intervention.” Indeed, this was the first time China announced the…

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Economy Evergrande: Shares in cash-strapped China property giant plunge – BBC Shares in the highly-indebted Chinese property giant Evergrande have plunged after it outlined the extent of its financial problems.  The firm said it is struggling to sell assets fast enough to service its massive $305bn (£220bn) of debts.  A statement issued by the company…

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KFC Bets On Vegan Nuggets Amid Nationwide Poultry Shortage – ZeroHedge

Kentucky Fried Chicken is serving up a new vegan future for its fast-food chain amid poultry shortages and the continued disruption caused by the virus pandemic.

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Market Commentary It is time once again for PPIACO – the old-style Producer Price Index dating back to 1913!  Indexes aren’t so useful, unless they are translated into “percent change year-over-year”.  As with last month, PPIACO y/y change remains around 20%, which is the largest move since Nixon was in the White House, a few…

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Economy Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago – CNBC Prices that producers get for final demand goods and services surged in August at their highest annual rate since at least 2010, the Labor Department reported Friday. The producer price index rose 0.7% for the month, above…

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Economy Brazil truckers block highways, Bolsonaro asks protestors to stand down – Yahoo Brazilian truckers staged demonstrations throughout Brazil on Wednesday, partially blocking key routes in several states and prompting President Jair Bolsonaro to ask the protestors to stand down. Truckers sympathetic to the president had partially blockaded highways in 16 states as of the…

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Economy BlackRock Raises $1 Billion for First Chinese Mutual Fund Run by Foreign Firm – WSJ BlackRock Inc has raised roughly $1 billion for the first-ever mutual fund solely run by a foreign firm that is allowed to sell to Chinese individuals. The fundraising total, 6.68 billion yuan, marks a key milestone in U.S. and…

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Economy El Salvador to Give Every Citizen $30 in Bitcoin for Downloading Govt Crypto App – Gizmodo El Salvador will give every adult citizen $30 in bitcoin, provided they download and register the government’s cryptocurrency app, known as Chivo, according to President Nayib Bukele. The nation’s 39-year-old president made the announcement late Thursday during a…

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