What IBM Said about the IT Chaos at UK Bank TSB and Owner Sabadell, Now in its 12th Week by Don Quijones • Jul 10, 2018 • 39 Comments Contracted to fix the fiasco, IBM estimates costs at $1.25 billion: sources. There’s even talk of divorce, after just 3 years of corporate marriage.
Leveraged-Loan Risks Are Piling Up by Wolf Richter • Jul 10, 2018 • 46 Comments Rising interest rates have a peculiar effect.
What the Heck’s Going on in San Francisco’s Housing Market? by Wolf Richter • Jul 9, 2018 • 64 Comments After the blistering spike earlier this year.
How Bad Is Iran’s Oil Situation? by Nick Cunningham • Jul 9, 2018 • 27 Comments “There’s a really big gap between what foreign governments are saying and what companies are saying.”
Nuts & Bolts of the Car Business: Tariffs, Subprime Defaults, EVs, Buy New or Used, & Why I Drive a Gas Guzzler (Ha!) by Wolf Richter • Jul 8, 2018 • 2 Comments A wide-ranging interview on the auto industry, housing, retail, and more.
“Big Three” Korean Shipbuilders & Their Huge Shipyards in a World of Overcapacity and Collapsed Orders by MC01 • Jul 7, 2018 • 55 Comments Years of “growth at any cost” led to accounting fraud, huge government bailouts, and murky restructuring plans.
Banks Squeal as Spain’s New Government Threatens to Do Unthinkable: Raise Taxes on Their Profits by Don Quijones • Jul 7, 2018 • 15 Comments Payback time for the financial sector that was bailed out by taxpayers, the new government thinks.
Update on the Fed’s QE Unwind by Wolf Richter • Jul 6, 2018 • 94 Comments With QE, the Fed created money to buy securities and pump up asset prices; now it sheds securities to destroy this money.
Heavy-Truck Orders Explode, Trucking Companies Struggle with “Capacity Crisis,” Truck Makers & Supply Chains are Inundated, Backlog is Ballooning, But it’s a Cyclical Business by Wolf Richter • Jul 6, 2018 • 42 Comments “Fleets are desperate for more equipment, but trucks are in short supply due to the supplier constraints.”
As the Yield Curve Flattens, Threatens to Invert, the Fed Discards it as Recession Indicator by Wolf Richter • Jul 5, 2018 • 51 Comments This Fed is getting seriously hawkish: It revealed that instead of thinking about backing off rate hikes, it’s replacing the yield curve.