Author: Wolf Richter

All Heck Breaks Loose in Toronto’s House Price Bubble

All Heck Breaks Loose in Toronto’s House Price Bubble by Wolf Richter – Wolf Street “It’s fear.” During the first two weeks in May, according to preliminary data from Toronto Real Estate Board, home listings surged 47% from the same...

The Pillage of Pemex Turns Bloody

The Pillage of Pemex Turns Bloody Gasoline theft is now the second most profitable activity for Mexico’s criminal gangs. By Don Quijones, Spain & Mexico, editor at WOLF STREET. Mexico’s state-owned oil giant, Petróleos de Mexico, AKA Pemex, has spent the...

#Carmageddon Now: Ford to Slash 10% of its Workforce

#Carmageddon Now: Ford to Slash 10% of its Workforce by Wolf Richter – Wolf Street “According to people briefed on the plan.” Ford’s shares have gotten hammered as it struggles with plunging car sales, and in April even with weak...

Retail Meltdown Demolishes Mall Investors

Retail Meltdown Demolishes Mall Investors by Wolf Richter – Wolf Street Even the biggest. The closure of thousands of retail chain stores last year and this year, with many more to come – from big anchor tenants such as Macy’s...

This is How Uber Eats into Hertz

This is How Uber Eats into Hertz by Wolf Richter – Wolf Street Undercutting competition by burning unlimited amounts of investor cash is part of the business model. Shares of rental-car conglomerate Hertz Global Holdings closed at $14.98 on Friday,...

Puerto Rico Triggers Largest Ever US Muni Bankruptcy Process

Puerto Rico Triggers Largest Ever US Muni Bankruptcy Process by Wolf Richter – Wolf Street “We’re going to protect our people.” Hedge funds reel. Puerto Rico’s Governor Ricardo Rosselló took the momentous step on Wednesday to trigger the largest municipal...