FOMC is still on course to increase rates this year according to comments from a number of Fed officials. Analysts continue to forecast 25 bp increases in June and December. Yellen’s dovish speech on Tuesday imparts non-negligible risk to that outlook. She outlined a number of uncertainties to the outlook, including still slow growth, especially noting China and the potential bearish spillover across the Asian regions.
After a 6 month investigation into the global oil industry it was revealed that billions of dollars of government contracts were awarded as the direct result of bribes paid on behalf of companies including Halliburton, its former subsidiary KBR, Rolls-Royce and Samsung. They counted on Unaoil to funnel the bribes and to secure lucrative contracts in Iraq, Kazakhstan, Libya, Syria, Tunisia, and other countries in Africa, the Middle East, and the former Soviet Union.