Iran “Finalizing” Mechanism To Bypass SWIFT In Trade With Europe

Just days after Europe unveiled a “special purpose vehicle” meant to circumvent SWIFT and US monopoly on global dollar-denominated monetary transfers – and potentially jeopardizing the reserve status of the dollar – Iran said it was finalizing mechanisms for the oil trade to bypass US…

Apple Unveils New iPhone XS Max, 4th-Gen Apple Watch

Update 2: Apple has unveiled the much anticipated iPhone XS (and Max), the successor to the X which is the “most advanced iPhone we have ever created,” Tim Cook says.  The XS comes in gold, while the larger XS Max comes in spacy gray, silver…

Paging Robocop: Russia’s Got A Kalashnikov-Designed 4.5 Ton “Soldier Suit” Mech

Russia has unveiled a menacing 4.5 ton bulletproof robot suit with giant claws that can walk and hold weapons. No word on how long it gives you to comply, but we assume the standard 20-second rule applies.  Uh oh, looks like Putin’s gone full mech warrior:  And…

Here Is The Full List Of US Products That Will Be Hit With New Chinese Tariffs

Stoking the flames of the relentless trade war between the US and China, earlier today Beijing unveiled a list of $60 billion of some 5,207 goods imported from the United States that will be taxed with extra tariffs ranging from 5 to 25%, should the…

Why At This Point, Trade War Is Likely To Get Much Worse

In a note written on Monday, ahead of today’s latest escalation by the US which unveiled a list of $200BN in incremental tariffs sending risks assets sharply lower and yet which was perfectly expected and previewed both here and elsewhere as it was part of…

Spacecraft With Revolutionary Heat Shield Will “Touch The Sun”

NASA has unveiled a “cutting-edge heat shield” that will make it possible for a space probe to “touch the sun” — or at least get a spacecraft to within 4 million miles of it, which scientists are hailing as nothing short of a “revolutionary” development in…

Pfizer Hikes 100 Drug Prices Despite Trump’s Promise Of “Massive Cuts”

Despite the fanfare with which the White House unveiled its “American Patients First” initiative earlier this year, it appears American pharmaceutical giants didn’t get the memo, and are still going ahead with their annual “price modifications.” As the Financial Times reports, Pfizer, the largest drug…

Putin Drives Dump Truck Across $3.6 Billion Bridge He Built To Crimea

Russian President Vladimir Putin unveiled the auto section of a $3.6 billion (223 billion rouble) road-and-rail bridge over the Kersch Strait on Tuesday linking Russia to the Crimean peninsula – much to the consternation of Ukrainian officials who said the bridge showed “disregard for international law.”  The bridge will…

Novartis Explains Why It Covertly Paid Trump Lawyer Michael Cohen $1.2 Million

As Stormy Daniels’ lawyer, Michael Avenatti, unveiled last night, in addition to a $500K payment from Russian oligarch Viktor Vekselberg made to an LLC controlled by Trump’s attorney and fixer, Michael Cohen also received other payments from US telecom giant AT&T (which is currently embroiled…