France’s finance minister has cautioned incoming U.S. President Donald Trump against taking unilateral steps to deregulate the U.S. financial industry, stressing the need for international coordination. Source Reuters
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As of March, the biggest explorers had hedged 28% of this year’s production, according to Warren Russell and Michael Cohen of Barclays Plc. There are no guarantees for 2018, however, when most of the hedges expire. “Now that it’s trading under $50, not many people are rushing to hedge.” Source: Bloomberg/WorldOil
Government debt and budget deficits are both set to spiral higher in the coming three decades if current patterns hold, according to new projections released by the Congressional Budget Office. Due largely to increases in Medicare and Social Security costs, the federal debt will reach 150 percent of GDP in 2047. Source: CNBC
A judge in Frankfurt has sentenced the masterminds of a Ponzi scheme that cheated ordinary Germans out of dozens of millions of euros to eight and a half years in prison. The case is sure to compound Germans’ reluctance to put their money in equity. Source: Handelsblatt