Here’s the big ‘deception’ in the market right now

There comes a time in every presidential administration in which politics and economics become intertwined to the point which the combination of the two creates an inflection point. The action last week in both stocks and bonds suggest that we have arrived at that crucial juncture. The volatility of the last few weeks is directly related to turbulence in DC. Markets don't like the unknown and the dysfunction in Washington has only made the forecast more difficult for corporate America. Tune in to Closing Bell at 3 pm on Tuesday. Jack Bouroudjian will be a guest. Upon hearing the news of Steve Bannon's departure, a huge roar could be heard on every trading floor. Why? Because capital markets are

Provident Financial shares dive on new profit warning

Shares in doorstep lender Provident Financial plunged on Tuesday and were down 67% in afternoon trade following its second profit warning in months. It says it now expects to make losses of £80m to £120m as its debt collection rates have dropped to 57% compared with a previous rate of 90% in 2016. Bradford-based Provident recently changed the way it collected its loans, replacing self-employed agents with "customer experience managers". Its chief executive has resigned. The company has some 2.5 million customers, many of whom would not qualify for a standard bank loan and are therefore categorised as "sub-prime". Agent loss The BBC has been contacted by a number of former Provident agents. All

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  Provident Financial is swamped by short sellers

  Daily Mail
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  FTSE gains clouded by Provident Financial's 'catastrophic' slump

  Reuters