Hong Kong's Status as an International Financial Center at Crossroads
Hong Kong lost its status as a global financial hub amidst shifting rankings and regulatory hurdles. Read the implications of China's tightening grip and cross-border capital flow uncertainties.
May 15, 2024 11:59 PM EDT
Is China's Central Bank Gold-Buying Spree a Precursor for War? Part II of II
The idea of a nation acquiring large gold reserves in preparation for military endeavors is not without historical precedent. Prior to World War I, European powers increased their gold reserves, and a century later, Russia's central bank doubled its gold holdings in the years before its invasion of Ukraine. This same strategic stockpiling of gold could be inferred from China and its pre-war positioning for a Taiwan incursion.
Is China's Central Bank Gold-Buying Spree A Precursor for War? Part I of II
Since 2009, China has more than doubled its gold reserves. In wartime, particularly in wars perpetrated in violation of international law, the resulting international sanctions can force an invader state to rely on its gold reserves. Thus if a country is preparing to go to war and incur sanctions, it will ensure it has an ample reserve of gold.
Costco's Gold Bars Part II: From Africa to the Alps to You
So where exactly does that shiny new "999.9 fine gold minted" bar from Costco come from? Under that "Essayeur Fondeur" Swiss authenticity stamp lies a long, bloody trail of death and tears.
Latest News
EU warns Thailand of airline safety enhancement
Thailand’s airlines have been spared a ban from European skies despite concerns over flight safety in the country. Last Thursday, EU regulators issued a special warning over travelling on Airlines from Thailand, but stopped short of following last week’s US damaging safety downgrade for a country heavily dependent on tourism.
Dec 11, 2015 09:34 AM EST
Oil slump major risk for Malaysia debt
The debt-ridden 1Malaysia Development Bhd (1MDB) is in the process of selling assets to reduce its debt. Though it has already identified buyers for its asset sale, investors say the oil price slump is the major concern over the nation's financial situation. Oil revenues account for 22 percent of total Malaysian government revenues. The government is planning to impose higher taxes to compensate oil price drop.
Dec 11, 2015 10:18 AM EST
Morgan Stanley in $225 million deal with U.S. regulator
National Credit Union Administration (NCUA) filed lawsuits against banking lenders includng Morgan Stanley for allegedly selling faulty mortgage-backed securities. Morgan Stanley without admiting its fault, has agreed to pay $225 million to seele the claims. The total value of such claims recovered by NCUA reached to $2.43 billion since 2011.
Dec 11, 2015 10:09 AM EST
Wal-Mart Marketing head Stephen Quinn to retire, says WSJ
The longtime Marketing Chief Officer of Wal-Mart Store’s Inc., Stephen Quinn, plans to step down by the end of January.
Dec 11, 2015 09:58 AM EST
Beijing continues to suffer from pollution, but Delhi's air quality is 150% worse
While Beijing residents continue to struggle through a period of unusually high air pollution, similarly high smog levels are a fact of life for many in different parts of the world, where Beijing-style warning systems aren't in force. In the past week, during which Beijing's air pollution has been at its most severe, air quality has been 150% worse in Delhi, India's capital.
Dec 11, 2015 07:49 AM EST
E. Coli Outbreak and The Biggest Food Recall in 2015
Several cases of food E. coli outbreak have become headline this year. E.coli may have been the major cause of food recall in 2015 along with listeria bacteria and defect.
Dec 11, 2015 04:35 AM EST
Buffet buys 8% in Sears' REIT Seritage Growth
Warren Buffett has acquired 8% stake in Seritage Growth Properties, amounting to $70.5 million. Berkshire Hathaway is also buying a real estate firm, Allie Beth Allman & Associates. The latest acquisitions by Buffett will add financial strength to Sears Holdings.
Dec 11, 2015 04:10 AM EST
Chipotle Mexican Grill in Seattle Closed for the Violation of Food Safety
The Chipotle restaurant was closed by the Seattle-King and County, public health officials due to the violation of the food safety policies. People are suffering from various illness after eating in this restaurant chain.
Dec 11, 2015 04:19 AM EST
Asian stocks ending week on weaker note as commodities remain sluggish
Asian stocks set for weaker weekly closing on sluggish commodities prices. The continuous oil price drop and further weaker Yuan currency also weakened the investor confidence. The market players were in wait and watch mode ahead of US Fed meeting next week.
Dec 11, 2015 04:13 AM EST
Now Drones Can Shoot in Night Vision with Thermal Camera
Drone maker DJI with FLIR, to develop a new drone camera that can shoot in complete darkness.
Dec 11, 2015 03:54 AM EST
Fed might hike rates, but it will be a bad decision, warns bond king Gundlach
Jeffrey Gundlach, the bond king in the US markets, says the current economic situation and market conditions are not in favour of interest rate hike. If US Federal Reserve increases rate this month, then it will regret its decision, he said. Stating that 100% of economists forecast rate hike. latest jobs data and other parameters are giving more room for US Fed to take decision on rate hike.
Dec 11, 2015 03:29 AM EST
Alaska Governor seeks income tax for the first time in 35 years
Alaska State Governor Bill Walker as part of his New Sustainable Alaska Plan,suggested for income tax in the State. If levied, it'll be after 35 years, Alaska records income tax. Alaska is highly dependent on oil revenues. The steep fall in oil price is impacting its revenues in a negative way. The current revenues can meet only 40 percent of government expenses.
Dec 11, 2015 01:16 AM EST