Finance

Puerto Rico to default on debt payment after talks fail

Puerto Rico has halted a $422m (£289m) debt payment due on Monday after talks to ease the US territory’s crisis ended without a deal. Governor Alejandro Garcia Padilla said in a televised speech he had issued an executive order suspending payments. He described it as a “painful decision”, but had been warning since last year that… Source: Puerto Rico to default on debt payment after talks fail – BBC News Read More »

Craig Wright revealed as Bitcoin creator Satoshi Nakamoto

Australian tech entrepreneur says he is creator of controversial digital currency. Australian tech entrepreneur Craig Wright has told the BBC he was the creator of controversial digital currency bitcoin after years of speculation about a person who until now has gone by the name of Satoshi Nakamoto… Source: Craig Wright revealed as Bitcoin creator Satoshi Nakamoto Read More »

How Norway Dispels the Private vs Public Sector Myth

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A strong state capable of building infrastructure is not enough. It must also be an inclusive state. David Sloan Wilson and Sigrun Aasland Economics It’s no secret that the Scandinavian nations are doing something right. They consistently lead the world in measures of happiness and quality of life. Political guru Francis Fukuyama called the search for the good society “getting to Denmark”. Even The Economist magazine featured a goofy looking Viking on its cover with the headline “The Next Supermodel”. How ... Read More »

Morrison’s ruling on Kidman & Co sale redefines the national interest test

In making a preliminary decision on the sale of S. Kidman & Co to a Chinese consortium, the Treasurer Scott Morrison has shed some light on what the government defines as being in the “national interest”. He describes the Chinese bid as being contrary to Australia’s national interest, because… Source: Morrison’s ruling on Kidman & Co sale redefines the national interest test Read More »

Tony Blair courted Chinese leaders for Saudi prince’s oil firm

Tony Blair obtained a “blessing” from Chinese leaders for a company owned by a Saudi prince to do business in China as part of an arrangement that paid the former UK prime minister’s firm £41,000 a month and a 2% commission on any multimillion-pound contracts he helped to secure… Source: Tony Blair courted Chinese leaders for Saudi prince’s oil firm | Politics | The Guardian Read More »

President Obama Weighs His Economic Legacy

Eight years after the financial crisis, unemployment is at 5 percent, deficits are down and G.D.P. is growing. Why do so many voters feel left behind? The president has a theory… By ANDREW ROSS SORKIN Source: President Obama Weighs His Economic Legacy – The New York Times Read More »

Eurogroup delay on Greece may not be deathblow

Reading between the lines of the canceled meeting on the Greek bailout. Dutch Finance Minister Jeroen Dijsselbloem’s cancellation of Thursday’s planned Eurogroup meeting may be a stumble but not a deathblow to negotiations around… Source: Eurogroup delay on Greece may not be deathblow – POLITICO Read More »

Thailand to sell 11.4m tonnes of rice

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Thailand plans to sell the remaining 11.4 million tonnes of rice in government stockpiles within two months, the country’s rice management board says. The world’s second-biggest rice exporter after India has been reducing stocks left over after the end of a rice-buying scheme under the previous, civilian… Source: Thailand to sell 11.4m tonnes of rice | The Mercury Read More »

US primaries: How the US election is changing the global economic debate

Donald Trump and Hillary Clinton’s convincing party wins in the New York primary for their parties’ presidential nomination have accelerated what has already been a contest of historic proportions. What is remarkable isn’t so much the theatrics and personalities but the underlying changes in play… Source: US primaries: How the US election is changing the global economic debate Read More »

How America Can Reap the Benefits of Brexit

The conventional wisdom is that a decision by British voters this June to leave the European Union would be bad for the United States. The… Source: How America Can Reap the Benefits of Brexit | Foreign Policy Read More »

UK retail sales experience continued decline

Food sales fell 1.9% in March from February, the biggest decline since January 2014. UK retail sales fell for a second month in March as consumers bought less of everything from food to clothing. The volume of sales dropped 1.3 per cent from February, far more than the 0.1… Source: UK retail sales experience continued decline Read More »

Moscow wins legal battle over $50bn Yukos shareholders′ compensation

The Kremlin has won a major legal victory after a Dutch court overturned a $50bn damages award to former shareholders of Yukos. With almost 20 percent of Russia’s annual budget at stake, shareholders vowed to fight on. Source: Moscow wins legal battle over $50bn Yukos shareholders′ compensation | News | DW.COM | 20.04.2016 Read More »

Serbian prime minister plans new privatisation push after election

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NOVI PAZAR, Serbia (Reuters) – Serbian Prime Minister Aleksandar Vucic plans a new push to privatise loss-making state firms if he wins Sunday’s election and will do everything needed to secure IMF approval for his economic policies, he told Reuters in an interview. Croft… Source: Serbian prime minister plans new privatisation push after election – World | The Star Online Read More »

Money laundering fears over Bendigo Bank operations on Nauru

Fears over money laundering and the risk of financing of terrorism has prompted calls for Bendigo Bank to abandon any dealings with the tiny Pacific nation of Nauru. Bendigo Bank is the only bank with a presence on the island, which Australia relies on as a crucial part of its refugee policy… Source: Money laundering fears over Bendigo Bank operations on Nauru Read More »

The Guardian view on Dilma Rousseff’s impeachment: a tragedy and a scandal

Editorial: Nothing is clear in Brazil’s murky political crisis, except that the country will suffer the consequences for a long time to come.. Ever since Stefan Zweig, writing in 1941, dubbed it “the land of the future”, Brazil has been reproached for failing to live up to the promise that its size, its… Source: The Guardian view on Dilma Rousseff’s impeachment: a tragedy and a scandal | Editorial | Opinion | The Guardian Read More »

New report shows 100% renewable by 2030 can save Australia money

A new report from the Institute for Sustainable Futures in Sydney says a rapid transition to a 100 per cent renewable energy system can save Australia money – with avoided fuel costs to quickly offset the extra capital expenditure of building wind, solar and other renewable energy installations. “The transition to a 100 per cent renewable energy system by 2050 is… Source: New report shows 100% renewable by 2030 can save Australia money : Renew Economy Read More »