Finance

Elizabeth Warren Takes On the ‘Gig Economy’

It’s one of the first serious attempts by Democrats to deal with the new part-time model for work. The Democratic Party hasn’t quite figured out how to take on the rapid rise of the “gig economy.” Hillary Clinton said last summer that companies like Uber and AirBnB created “exciting opportunities,” but also… Source: Elizabeth Warren Takes On the ‘Gig Economy’ | The Nation Read More »

Russia Remains Determined To Stop Israel-Turkey Pipeline Deal

It has been six years since the Israeli raid on the Mavi Marmara ship that was aiming to reach the Gaza coast in May 2010. In the wake of the Mavi Marmara crisis, Turkey and Israel relations rapidly worsened; both countries withdrew their ambassadors and cut diplomatic ties. Turkey’s downing of a Russian jet along the Syrian border on November 24, 2015 has forced Ankara to adjust its foreign policy… Source: Russia Remains Determined To Stop Israel-Turkey Pipeline Deal | ... Read More »

Iceland Recovering Fastest in Europe After Jailing Bankers Instead of Bailing them Out

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Iceland is on track to become the first European country that suffered in the financial meltdown to “surpass its pre-crisis peak of economic output”—essentially proving to the U.S. that bailing out “too big to fail” banks wasn’t the way to go!… Source: EWAO Iceland Recovering Fastest in Europe After Jailing Bankers Instead of Bailing them Out Read More »

Plan to cut or scrap inheritance tax for thousands

Children inheriting family home would be exempt on first €500,000 of estate value.. Tax changes promised in the Government programme for partnership will sharply cut or eliminate completely inheritance tax for thousands of people in the coming years. Under the changes, once they are implemented, children inheriting the family… Source: Plan to cut or scrap inheritance tax for thousands Read More »

Why penalty rates are just like CEO bonuses

Company leaders defend their huge salaries by saying bonuses incentivise CEOs to perform better. Doesn’t this same principle apply all the way down to the shop assistant and their Sunday penalty rate? Source: Why penalty rates are just like CEO bonuses – The Drum (Australian Broadcasting Corporation) Read More »

Trump and Taxes

Paul Krugman 5e good photo LLLLLLLL

This seems to be the week for Trump tax mysteries. One mystery is why Donald Trump, unlike every other major party nominee in modern times, is refusing to release his tax returns. The other is why, having decided that he needs experts to clean up his ludicrous tax-cut proposals, he chose to call on the services of the gang that couldn’t think straight… Source: Trump and Taxes – The New York Times Read More »

Is oil heading for a ‘hard fall’ in the next month?

Two years of supply excess have apparently ended with a spate of supply outages. Oil price surges amid supply ‘deficit’ claims – but will the rally last? The oil price is rising again following claims from one of the most bearish forecasters in the market that supply has “flipped” into deficit in recent weeks… Source: Is oil heading for a ‘hard fall’ in the next month? | The Week UK Read More »

Asia’s economic ties with Latin America: NAFTA and China

Second of two parts In the first part of this article, I recounted the story of the unlikely creation of NAFTA after Mexico ditched half a century of inward-looking, protectionist policies and proposed a free trade agreement to the United States, which eventually turned into the North American Free Trade Agreement, including Canada, in 1994. Also, we narrated how soon-after NAFTA’s trade started expanding fast, China’s… Source: Asia’s economic ties with Latin America: NAFTA and China – Asia Times Read More »

Greek tragedy may return to centre stage as debt matures

Major crisis unlikely, but EU may lose precious time as it frets over Brexit: Analysts While the markets have been worried about oil prices and China over the past few months, Greece could once again rear its ugly head in the months ahead. The small European country could soon run out of money, resulting in another bout of brinkmanship with the creditors triggering more market volatility… Source: Greek tragedy may return to centre stage as debt matures, Economy News & ... Read More »

The choice for Europe: rescue Greece or create a failed state

It’s no longer about austerity. This is a battle for the soul of Europe.. Between now and mid-June the European political elite must give its answer to an existential question. Will it honour the deal it made to rescue Greece last July; or will it push the radical left government into default –effectively creating a failed state in Europe?… Source: The choice for Europe: rescue Greece or create a failed state | Paul Mason | Opinion | The Guardian Read More »

Ireland On Course to Develop Hydrocarbons, Employment

Ireland’s hydrocarbon sector is attracting an array of oil and gas industry giants in its 2015 Atlantic Margin Oil and Gas Exploration Licensing Round, with eight companies receiving new acreage in the southern Porcupine Basin as part of the first phase awards. The second, and final, phase of awards is scheduled for mid-May and will see a range of new acreage awarded to a variety of oil and gas exploration and production firms. Source: Ireland On Course to Develop Hydrocarbons, ... Read More »

Federal election 2016: Thanks for paying for my house, loser

The Prime Minister is correct. There are a lot of mum and dads with negatively geared property investments. Once upon a time, I was one of them. It was great for me. Not so much for you… Source: Federal election 2016: Thanks for paying for my house, loser Read More »

China Will Probably Implode

From politics to the economy to the environment, the end may be near.. In July of 2001, Gordon Chang predicted an inevitable meltdown of the Chinese Communist Party in his best-selling book The Coming Collapse of China. Since then, China’s economy has increased by more than eightfold, to surpass even the United States on a purchasing parity power basis. Oops?… Source: China Will Probably Implode | The National Interest Read More »

Why ‘paralysing volatility’ means trouble for Wall Street giant

There’s plenty of volatility, but what happened to the volume? From stocks to currencies and bonds, the upswing in turbulence to start the year is chasing all but the bravest traders from financial markets. Despite the recent rebound in US equities, the volume of shares traded in the S&P 500 Index is down 23 per cent. Speculative bets on the direction of currencies have also dropped to the lowest in two years, while average daily trading among dealers in US Treasuries is ... Read More »

Malcolm Turnbull defends saying wealthy parents should ‘shell out’ to buy their kid a house

Malcolm Turnbull has defended his suggestion that wealthy parents should buy their children homes to help them into the expensive housing market, with Labor accusing the multi-millionaire Prime Minister of being “out of touch.” Wealthy parents should “shell out” and buy their children houses, Mr Turnbull said in off-the-cuff remarks on Wednesday, comments which have been seized on by the opposition… Source: Malcolm Turnbull defends saying wealthy parents should ‘shell out’ to buy their kid a house Read More »

Economist Paul Craig Roberts: Greece Must Leave the Eurozone to Regain Its Sovereignty

In Greece, the Syriza-led coalition government is now set to agree to new rounds of cuts and privatizations demanded by the country’s lenders. Prior to its initial election in January 2015, Syriza had promised to abolish the country’s loan agreements and austerity policies. Now, unemployment remains at record levels, and the young and educated continue to leave the country, while recent large-scale privatizations such… Source: Economist Paul Craig Roberts: Greece Must Leave the Eurozone to Regain Its Sovereignty Read More »