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Wolf Richter www.testosteronepit.com
The fiasco that is playing out in the natural gas industry doesn’t happen often in a free market, and when it does happen, it’s usually short—and brutal for all involved: namely, prices that are way below production costs. In most industries, hedging strategies might get market participants through the period, while unhedged production, a money-losing activity, gets slashed. If it lasts long enough, it causes a shakeout where less efficient or [...]
(Reuters) – France’s Socialist presidential frontrunner Francois Hollande said on Saturday he was expecting a wave of layoffs to follow next weekend’s election, but pledged his government would not stand idly by as companies dismissed workers.
Hollande, 57, is on track to win the May 6 runoff against President Nicolas Sarkozy, due largely to the conservative leader’s failure to keep his promise to cut stubbornly high unemployment in the euro zone’s [...]
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