Key ideas from Kevin Warsh

• European oil majors Shell, BP, and Total Energies expected to slash billions in shareholder payouts as crude prices weaken
• Kevin Warsh wants 'regime change' on Fed's balance sheet and fundamental overhaul of central bank operations if confirmed
• Nestle, Danone, and Lactalis face global recalls after contaminated Chinese ingredient affected hundreds of product lines across 65+ countries
• UBS reports oil industry has cut share count by significant percentage through aggressive buyback programs in recent years
• Silver surged to record high Wednesday then plunged 20% Friday to 2008 lows, causing 'pandemonium' in NYC Diamond District
• European Food Safety Authority quickly establishing safe toxin limits for infant formula following contamination crisis
• Fed officials strongly resist balance sheet shrinkage, believing it would cause market turmoil and higher borrowing costs
• Three major refineries on Jewelers Row took unusual step of closing to retailers amid precious metals volatility