Tuesday, February 2, 2016

Today's Links

1--Dow drops 295 while yields on 10-year USTs slip to 1.84%, CNBC

2--Russia cries "Uncle" on oil prices, oil price

3--BP CEO Says Debt Can Rise to Sustain Dividend During Oil Slump, Bloomberg

No belt-tightening needed: BP Plc is happy to let its debt rise this year to maintain dividends during the slump in oil prices, Chief Executive Officer Bob Dudley said in an interview.

Speaking after disclosing a record annual loss, Dudley said that a leverage ratio as high as 25 percent, compared with 21.6 percent at the end of last year, wouldn’t make him “nervous.”

4--BP Profit Tumbles 91% Amid Oil Slump, Falling Short of Estimates

5--Oil-price poker: why the Saudis refuse to fold ‘em", Wall Street Journal

"It remains within Saudi Arabia’s ability to foster at least a partial recovery in crude prices on its own. A sharp rally in prices last Thursday morning was based on comments from Russia’s energy minister that the Saudis might get the ball rolling on 5 per cent output cuts. That was quickly refuted and oil gave up much of the gains....

Russian overtures that include political and military concessions might break the logjam and persuade the Saudis to take the lead on production cuts."

6--Video: Santelli; Red flags for the Fed. Yield curve inversion

7--Corporate bond yields and the cold pull of negativity

8--Retail Apocalypse: 2016 Brings Empty Shelves And Store Closings All Across America

Wal-Mart is closing 269 stores, including 154 inside the United States.

-K-Mart is closing down more than two dozen stores over the next several months.

-J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.

-Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.

-The Gap is in the process of closing 175 stores in North America.

-Aeropostale is in the process of closing 84 stores all across America.

-Finish Line has announced that 150 stores will be shutting down over the next few years.

-Sears has shut down about 600 stores over the past year or so, but sales at the stores that remain open continue to fall precipitously.

But these store closings are only part of the story.

All over the country, shoppers are noticing bare shelves and alarmingly low inventory levels.  This is happening even at the largest and most prominent retailers.

9--The Final Push??  SHOWDOWN AT ALEPPO

The SAA has launched further operations in Northern Aleppo which could prove decisive in cutting off what is left of the rebel forces of NW Syria from their LOCs and bases in Turkey. This new offensive had been building up for the past few days. The only thing uncertain was which main direction it would take ...

10--Geneva talks begin as US-backed war in Syria expands, wsws

11--The terrorists who killed 250,000 in Syria are complaining that Russia won't stop the bombing, Bloomberg

12--Syria peace talks; Who wants what?

 The gang's all here:  US, Russia, Turkey, Saudi Arabia, Iran, Europe and Syria 

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