Jeff Springer
Jeff Spring is the Finance & Markets Editor at BusinessPundit.com. He's currently spending his days backpacking across Europe. While he may be living outside of the United States, he stays connected to American financial markets and M&A's more than is probably healthy for any single person. His love of a good book and a Bloomberg terminal can't be understated.
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Oil oversupply is getting worse despite recent price spike
The world is continuing to drown in an excess amount of oil and it’s getting worse. US oil stockpiles skyrocketed by 9.4 million barrels last week to 532.5 million barrels, according to figures released on Wednesday by the U.S. Energy Information Administration. Those levels are three times higher than analysts had expected. Last week crude climbed over […]
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Lumber Liquidators is crashing after CDC says cancer risk is higher than originally reported
Lumber Liquidators Holdings Inc’s shares are crashing on Monday after the Centers for Disease Control and Prevention (CDC) reported on Feb. 18 that people exposed to some types of the company’s laminate flooring were three times more likely to get cancer than previously estimated. The CDC estimates that 6-30 cases per 100,000 people, compared with the 2-9 cases […]
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Pirates are even turning their backs on oil
Crude oil has become so cheap that even Nigerian pirates are turning their backs on oil rigs that pass through their waters. A Bloomberg report Monday noted that attacks on vessels shipping oil in the Gulf of Guinea in West Africa have dropped by one-third in the past year while oil prices crashed. The gulf includes the Atlantic […]
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Goldman Sachs says it’s time to short gold
Gold has been rising but Goldman Sachs’ global head of commodities Jeffrey Currie thinks it’s time to short the commodity. Gold surged to its highest level in a year last week, as stocks continued to be sold off and investors flocked to other assets they deem to be safer during times of economic contraction. However, the […]
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Jim Rogers says Central Bankers are incompetent and we’re all going to pay the price
Famed investor Jim Rogers believes Central Bankers have no idea how to do their jobs and we’re all going to pay the price for their moronic choices. “We’re all going to pay a horrible price for the incompetence of these central bankers,” he said Monday in a TV interview with CNNMoney’s Nina dos Santos. “We […]
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US consumers are saving more and spending less
US consumers are cutting back on purchases and putting more money away for a rainy day. Consumer spending remained unchanged in December as customers cut back on purchases of automobiles and unseasonably mild weather weighed on demand for utilities. That reduction in spending led to a big jump in savings, which reached a three-year high. The […]
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Oil futures just crashed below $28 a barrel
Oil futures continued to decline on Wednesday as U.S. crude reached its lowest since 2003. U.S. crude oil dropped more than 4% in early trading, falling to as low as $27.32 a barrel. The sinking future rebounded to track $1 below its starting price at $27.46 as of 1239 GMT. The contract settled down 96 cents, […]
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Oil prices slide to lowest point since 2003 as Iran floods market
Oil prices have reached their lowest price since 2003 in early trading on Monday, as the market braces for a big jump in oil exports led by lifted sanctions in Iran. The UN nuclear watchdog group on Saturday said Tehran was meeting its commitments to curtail its nuclear program. Following those findings the US revoked sanctions […]
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Oil prices continue to plummet on China concerns and a strong US Dollar
Oil prices fell on Tuesday as investors continued to worry about economic growth in China and the US dollar continued to pick up strength. Brent crude prices, a global benchmark for oil pricing, fell by 17 cents to $37.05 a barrel while US West Texas Intermediate crude fell by 7 cents to $36.69 a barrel. […]
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New York will pay your student loan for 2 years
If you’re a recent college graduate in New York state and you’re struggling to pay back your student loans, you might be able to receive some help from the state. The state will pay up to two years of student loan bills for residents who have failed to land their dream job and are currently […]
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Oil prices will continue falling in early 2016
Oil prices will likely continue a downward plunge in early 2016, before eventually picking up steam and increasing as the year moves forward. Over the last 18 months oil has dipped by 68% due to a massive supply glut. Oil on Friday fell to a seven-year low of $34.50. The collapse in oil pricing has […]
