In the final part of Hugh Hendry's 3-part (part 1 and part 2 here) interview with MoneyWeek's Merryn Somerset Webb the sanguine Scot, perhaps surprisingly to some given his previous negativity - though fitting with his world view ofShow More Summary
Calling banking services "the end of the line," for Colorado's list of hurdles to legitimizing its marijuana industry, Gov. John Hickenlooper's office cheered Wednesday's state issuance of a pot credit-union charter. The world's first...Show More Summary
Submitted by David Stockman via Contra Corner blog, The global financial system has come unglued. Everywhere the real world evidence points to cooling growth, faltering investment, slowing trade, vast excess industrial capacity, peak...Show More Summary
As the entire world knows by now, China joined the rest of the world's central banks in more "easing", which sent markets into a spastic move higher. As you can see by this view of the NQ, this massively bullish news has not, as of yet, represented any kind of sea-change in the markets. Show More Summary
Education creates a strong foundation for women entrepreneurs because it aids in the development of critical thinking and is one of the most effective ways to expand opportunities for women and their daughters. The World Bank estimates...Show More Summary
World stock markets and oil prices rallied following a surprise rate cut by China and as the European Central Bank indicated it would step up its asset purchases. ||| NEW YORK - World stock markets and oil prices rallied Friday, fueled...Show More Summary
World shares surged on Friday as China surprised markets with its first interest rate cut in more than two years and the European Central Bank’s Mario Draghi threw the door wide open to full scale money printing. European shares.FTEU3, oil LCOc1 and other growth sensitive commodities all leapt as China’s move to cut rates to 5.6 […]
The People's Bank of China, one of the world's most secretive central banks, just slashed interest rates. The one-year deposit rate just got cut 0.25 points to 2.75%. And the refinancing rate was slashed 0.40 points to 3.60%. That's according to the Financial Times. This is all in the face of a slowing economy. Show More Summary
The world's central banks aren't done using their words and actions to stimulate the economy. Friday came with two big central bank gestures that rocked the global markets. The first big move came from European Central Bank President Mario Draghi, who spoke to a banking conference in Frankfurt at about 3:30 a.m. Show More Summary
A bare 0.004 percent of the world’s adult population controls nearly $30 trillion in assets, 13 percent of the world’s total wealth, according to a new study released Thursday. And perhaps unsurprisingly, the study by the Swiss bank UBS and luxury industry consultant Wealth-X said the...
Moments ago, as traditionally is the case, the Chinese central bank caught the world by surprise and cut rates, notably the deposit rate by 25 bps and the lending rate by 40 bps. According to the press release posted moments ago (google...Show More Summary
Stung by billion-dollar fines for malpractice on their trading floors, the world’s big banks are using ‘fuzzy logic’ tools such as relationship mapping and behavioural analytics to read the minds of would-be cheats among their traders. Show More Summary
A Quick Whirl Around The Fracking World: USA. “A two-year Senate investigation of the financial sector has found that banks can meddle with the economy in new and frightening ways”. Deregulation resulted in banks buying commodities, owning mines, a “fleet of 100 oil tankers”, “31 power plants” and more. USA. The Alberta Clipper pipeline, larger [...]
Are you ready for the a cappella world championships? The trailer for Pitch Perfect 2 just came out, and I could not be more excited. Elizabeth Banks is reprising her scene-stealing role; Rebel Wilson is still flawless; Anna Kendrick is still tiny and wonderful. Let's do this, pitches.
The World Bank chief economist for Africa said the cost may be $3 billion or $4 billion, not the worst-case outcome of more than $32 billion.
Financial toll for hardest-hit region could fall between $3 billion and $4 billion, or about one-tenth of what the World Bank initially forecast
I’m clearly not much of a prognosticator. In highlighting, with skepticism, the World Bank’s new Global Infrastructure Facility as a major G-20 Brisbane outcome on infrastructure, I missed far more of the actual agenda than I should have. Show More Summary
Submitted by Charles Hugh-Smith of OfTwoMinds blog, What do we do when the bubble economy cannot be reflated? It is generally conceded that we are living in an era of Peak Everything: peak central bank omnipotence, peak powerless ofShow More Summary
The World Bank now expects the impact of the Ebola epidemic on Sub-Saharan Africa's economy to be around $3-$4 billion (R44 billion). ||| Johannesburg - The World Bank now expects the impact of the Ebola epidemic on Sub-Saharan Africa's...Show More Summary
LONDON (Reuters) - ICAP, the world's largest interdealer broker, said on Wednesday it is not being investigated as part of a global probe into allegations of manipulation in the $5.3 trillion-a-day currency market. Six banks were fined a total $4.3 billion by U.S. Show More Summary