Word: capitale
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SemGroup was short oil. Massively. That is, it had bet that the price was going down by contracting to sell millions of barrels of oil it did not own at a future date, on the assumption that the price would fall and SemGroup could supply the barrels at a lower...
With speculators' positions massively leveraged, holding only a fraction of the value of the oil they had purchased, they scrambled to cover losses. Not only did oil prices go down, but other assets also declined significantly. The further oil prices went down, the more deleveraging and liquidation had to occur...
In a letter e-mailed to the Harvard community on Monday about the implications of the economic crisis for the University, President Drew G. Faust wrote of “assessing all aspects of our ambitious capital planning program, including the phasing and development of our campus in Allston.?...
My last name comes from the defunct state of Prussia. Its old capital, Konigsberg—renamed Kaliningrad by the Russians—seldom makes the news for much of anything. That changed, at least temporarily, when Russian President Dmitry Medvedev announced the day after Barack Obama’s...
The question is whether that will build Obama's momentum for bigger change or merely squander his honeymoon. Here too, Clinton's history is telling. In his first year, he put so much energy and capital into his deficit-reduction package and NAFTA that, in the view of some who...