Business

The Left backing Brexit: The European Union won’t bend

The EU is a game set up more for big business than for ordinary people. Many people’s response to seeing massive structural flaws within the European Union is to say “Yes, of course the EU isn’t perfect, but it’s better to stay in and reform it than give up and leave.” This is the Labour party line, which we tend to hear whenever an awkward truth is brought up in a debate: Yes it is awful, but let’s try and ... Read More »

Japan temporarily bans live cattle exports from Australia over bovine Johne’s fears

Japan has temporarily stopped accepting live feeder and breeder cattle exports from Australia after a number of animals tested positive for bovine Johne’s disease… Source: Japan temporarily bans live cattle exports from Australia over bovine Johne’s fears Read More »

China demand to drive 15 year-long bauxite boom, says Rio Tinto

Just when you thought the mining boom was over, there’s a commodity poised to soar over the next 15 years… Source: China demand to drive 15 year-long bauxite boom, says Rio Tinto Read More »

Trains grind to a halt as strikes grip France

Transport chaos hit France again on June 1, just nine days ahead of Euro 2016, as railway workers went on strike in the latest salvo of a months-long battle between the government and unions.. Between a third and half of France’s trains were expected to grind to a halt, as workers from railway operator SNCF launched their eighth strike in three months, this time saying it will continue until demands for better pay and conditions are met… Source: Trains grind ... Read More »

How much is the bank making on your mortgage?

Irish banks earn the second highest margins on new mortgage lending in the Eurozone ECB figure show.. It’s difficult to avoid mortgages these days. Pick up a paper or turn on the radio and it seems it won’t be long before mortgages make an appearance; no, not people taking them out, but the shocking disparity – of about 2 percentage points – between what Irish property owners are paying on variable interest… Source: How much is the bank making on ... Read More »

Roberto Saviano: London is heart of global financial corruption

Speaking at the Hay festival, the anti-mafia journalist said British financial services made the UK the world’s most corrupt nation.. The financial services industry based in the City of London facilitates a system that makes the UK the most corrupt nation in the world, the anti-mafia journalist Roberto Saviano said at the Hay festival… Source: Roberto Saviano: London is heart of global financial corruption | Books | The Guardian Read More »

No slowdown for India despite global uncertainty, Jaitley says

[TOKYO] Despite “considerable” uncertainty in the global economy, India’s growth is set to continue its world- beating pace, according to Finance Minister Arun Jaitley.. “I don’t think we have a slowdown in sight for the reason that there is a lot of economic activity generated by increased public funding, foreign investment, and urban demand moving up,” Mr Jaitley said in an interview on Monday while visiting Japan, where he hopes to… Source: No slowdown for India despite global uncertainty, Jaitley ... Read More »

Austerity policies do more harm than good, IMF study concludes

Economists give strong critique of neoliberal doctrine ushered in by Ronald Reagan and Margaret Thatcher in the 1980s.. A strong warning that austerity policies can do more harm than good has been delivered by economists from the International Monetary Fund, in a critique of the neoliberal doctrine that has dominated economics for the past three decades. In an article seized on by the shadow chancellor, John McDonnell, the IMF… Source: Austerity policies do more harm than good, IMF study concludes ... Read More »

Banks tougher than vulture funds on debt forgiveness

Banks risk prompting compliant borrowers stopping payments if seen as easy on debt.. Labelled by Ulster Bank as “non co-operating”, some 900 of its mortgage holders who are deep in arrears and litigation learned this week the bank does not want the hassle of them any more… Source: Banks tougher than vulture funds on debt forgiveness Read More »

Blatant Hypocrisy: the Latest Late-Night Bailout of Greece

The new late night deal in the Eurogroup on the new bailout for Greece is another blatant hypocrisy by the dominant European Union powers, their partner-cum-competitor IMF (aka the US) and the Greek establishment (now represented by the SYRIZA government). The new deal is an uneasy compromise subject to a continuing tug-of-war between the US (through its proxy, the IMF) and the EU… Source: Blatant Hypocrisy: the Latest Late-Night Bailout of Greece Read More »

Yanis Varoufakis: Australia’s negative gearing is ‘scandalous’

The former Greek finance minister has a laundry list of suggestions to fix Australia’s economy. Here for Sydney Writers’ festival, he doesn’t hold back. here are two seats to choose from: a deep, soft black-leather couch, or a red one that has the utilitarian look of a school chair. Yanis Varoufakis – a man who has described himself as an “erratic Marxist”… Source: Yanis Varoufakis: Australia’s negative gearing is ‘scandalous’ | World news | The Guardian Read More »

Bank of England could wade into EU debate AGAIN, admits Mark Carney

THE Bank of England is poised to anger Brexit campaigners by wading into the European Union debate again.. Earlier this month the Bank’s Monetary Policy Committee (MPC) claimed Brexit could tip the country into recession. And Governor Mark Carney yesterday refused to rule out another intervention ahead of the June 23 vote. He said he did not expect the MPC to say “something substantially different” about the… Source: Bank of England could wade into EU debate AGAIN, admits Mark Carney ... Read More »

Haitians Protest Outside Hillary Clinton’s Office Over ‘Billions Stolen’ by Clinton Foundation

Haitian activists protested outside of the Clinton Foundation in New York over the loss of “billions of dollars” that was meant to help rebuild after the devastating 2010 earthquake. The activists are claiming the money was stolen through the Haiti Reconstruction Commission that was headed by Bill Clinton. In January 2015, the Clinton Foundation was the target of protests for wasting more than $10 billion and awarding contracts to non-Haitian companies. The activists also said Haiti as a cover for ... Read More »

The Left on the Run in Latin America

In 2004, President Hugo Chávez of Venezuela and the Cuban leader, Fidel Castro, launched the Bolivarian Alternative for the Peoples of Our Americas, a regional alliance of leftist leaders designed to subvert a hemispheric free trade agreement that the United States had been pushing for a decade. In the years that followed, Washington’s hope of a trade pact of 34 nations faded, and its clout in the region diminished as… Source: The Left on the Run in Latin America – ... Read More »

European bank plans more non-EU loans to stem migration crisis

The European Investment Bank wants to make more loans outside the 28-nation European Union to help tackle the migration crisis and will present plans to European Union leaders at their next meeting in June, its president said in an interview on May 20. Werner Hoyer cited rules that say the bank must lend 90 percent of its funds within the EU but said the EIB could double its loans outside the bloc, expected to be 17.5 billion euros ($20 billion) under ... Read More »

Chinese interests play increasing role in Australian political donations

A Chinese government-backed propaganda unit and a swag of companies that stand to gain from the China Australia Free Trade Agreement have made more than half a million dollars of political donations in Victoria… Source: Chinese interests play increasing role in Australian political donations Read More »