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  • A $57 million pay dispute sees Andrea Orcel get dumped as new Santander CEO before even getting started

    Santander said late on Tuesday that it will no longer be appointing UBS executive Andrea Orcel as its new CEO. The Spanish banking giant said that the level of compensation that was required to hire Orcel was "unacceptable." The sticking point in bringing Orcel to Santander was years of compensation that had previously been deferred by UBS, which, owing to his departure, the Swiss bank was reluctant to pay. Santander would have needed to pay Orcel upwards of €50 million ($57.1 million; £44.8...

    Business Insider
  • New Data Suggests Shocking Shale Slowdown

    Authored by Nick Cunningham via, U.S. shale executives often boast of low breakeven prices, reassuring investors of their ability to operate at a high level even when oil prices fall. But new data suggests that the industry slowed dramatically in the fourth quarter of 2018 in response to the plunge in oil prices. A survey from the Federal Reserve Bank of Dallas finds that shale activity slammed on the brakes in the fourth quarter. “The business activity index - the survey’s...

    Zero Hedge
  • The first economic data from December is in and it shows trouble

    The first survey of December's economic data came out on Wednesday with diminished results.