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Carillion in fresh plunge on latest alert

Carillion in fresh plunge on latest alert

Business
Troubled construction group Carillion has endured a fresh shares collapse after issuing its third profit warning of the year and saying it faces breaching its agreements with lenders.Carillion, which is working on the HS2 rail link as well as being involved in other major public projects and contracts, saw its market value slump by more than half in early trading.The Government said on Friday that it was being kept informed of the group's turnaround efforts.Carillion has been fighting for its financial future as it tries to deal with a vast debt pile and badly performing contracts.Its shares had already fallen by two-thirds since profit warnings in July and September.The latest alert saw a further shares collapse. Although they partly recovered later in the session, they still closed 48% l...
David Stockman warns investors to 'get out of the casino,' says stocks set for a 40-70% plunge

David Stockman warns investors to 'get out of the casino,' says stocks set for a 40-70% plunge

Finance
David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off.Stockman, the Reagan administration's director of the Office of Management and Budget, isn't stepping away from his thesis that the 8½-year-old rally is in serious danger."There is a correction every seven to eight years, and they tend to be anywhere from 40 to 70 percent," Stockman said recently on CNBC's "Futures Now." "If you have to work for a living, get out of the casino because it's a dangerous place."He's made similar calls, but they haven't materialized. In June, Stockman told CNBC the S&P 500 could easily fall to 1,600, which at the time represented a 34 percent drop. This week, the index was trading at record levels
Cassini: Saturn probe turns towards its death plunge

Cassini: Saturn probe turns towards its death plunge

Science
The international Cassini spacecraft at Saturn has executed the course correction that will send it to destruction at the end of the week.The probe flew within 120,000km of the giant moon Titan on Monday - an encounter that bent its trajectory just enough to put it on a collision path with the ringed planet. Nothing can now stop the death plunge in Saturn's atmosphere on Friday. Cassini will be torn to pieces as it heads down towards the clouds.Its components will melt and be dispersed through the planet's gases.Ever since it arrived at Saturn 13 years ago, the probe has used the gravity of Titan - the second biggest moon in the Solar System - to slingshot itself into different positions from which to study the planet and its stunning rings. It has been a smart strategy because Cassini wou...
Ron Paul: 50% stock market plunge ‘conceivable,' but it’s not President Trump’s fault

Ron Paul: 50% stock market plunge ‘conceivable,' but it’s not President Trump’s fault

Finance
Ron Paul's sell-off prediction just got more severe.The former Republican Congressman from Texas believes escalating dysfunction in Washington will create even more pain for Wall Street."A 50 percent pullback is conceivable," Paul said on "Futures Now" recently. "I don't believe it's ten years off. I don't even believe it's a year off. "According to his calculations, it would cut the S&P 500 Index in half, to 1212, and the blue-chip Dow Jones Industrial Average would collapse to 10,837.Paul noted that there's a lot of chaos in Washington right now, with an "unpredictable president" and those who are inclined to "tear him apart" but if the market takes that big of a tumble, he doesn't see it as Trump's fault. "It's all man-made. It's not the fault of Donald Trump in the last week. If th...