Economy

Belgium split over EU-Canada trade deal Ceta

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Belgium’s Foreign Minister Didier Reynders says EU leaders may agree on a landmark EU-Canada trade deal this week – but only if objections from his country’s Wallonia region can be met. EU trade ministers are discussing the Ceta deal in Luxembourg, and Wallonia’s concerns cannot be ignored. Belgium’s national government backs the… Belgium split over… Read More »

China’s onshore Renminbi rate at six-year low

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Analysts predict further devaluation pressure in the short-term By LIN WANXIA and POO YEE KAI The onshore Renminbi has fallen further against the US dollar, dropping down to the 6.70 key defensive line on Monday… China’s onshore Renminbi… Read More »

Single women can’t afford to live in the city and men can. Is that fair?

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Two alarming reports that have surfaced expose the economic bedrock on which the material disadvantage of Australian women is perpetuated Van Badham and Gabrielle Jackson It’s not often Margaret Thatcher is quoted in support of structural feminist arguments for fairness. She wasn’t actually talking about women when she Single women can’t… Read More »

Why is globalisation under attack?

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Free trade and globalisation seem to be under siege from a broad and loud range of opponents. By Mark Broad, Economics reporter, BBC News For decades there has been a strong consensus that globalisation brought more jobs, higher wages and lower prices – not just for richer countries but also for developing and… Why is globalisation under… Read More »

The Economic Disaster Behind Afghanistan’s Mounting Human Crisis

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Donors and Afghan state agencies must urgently tackle an economic crisis building up since 2014, when foreign troops started leaving and political instability worsened. The starting point must be a socio-economic assessment of just how big the problems are… The Economic Disaster Behind Afghanistan’s Mounting Human Crisis… Read More »

Pound falls after Brexit Article 50 date announced

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Sterling took another knock on Monday after Theresa May’s announcement that the Government will trigger Article 50 by March 2017. The pound fell 0.5% against the US dollar in morning trading to stand at 1.28 dollars. Against the euro, sterling was also… Pound falls after Brexit Article 50 date announced… Read More »

China’s yuan joins elite club of IMF reserve currencies

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REUTERS, AP, AFP-JIJI BEIJING/WASHINGTON – China’s yuan is joining the International Monetary Fund’s basket of reserve currencies as of Saturday, a milestone for the government’s campaign for recognition as a global economic power. The yuan joins the dollar, euro, yen and pound in the IMF’s special drawing rights (SDR) basket, which… China’s yuan joins elite club of IMF reserve currencies… Read More »

India tax evasion amnesty uncovers hidden billions

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A tax evasion amnesty in India has prompted tens of thousands of people to declare more than $9.5bn (£7.3bn) in undeclared income and assets. Finance minister Arun Jaitley said the four-month window that ended on Friday brought in 64,275 declarations. All were offered immunity from prosecution in return for paying tax, a… India tax evasion amnesty uncovers hidden billions… Read More »

The War on Hank Greenberg

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Greenberg is fighting back not simply for himself but for anyone who believes that we should stand for justice, not prosecutorial tyranny. Lawrence A. Cunningham The downtown New York courtroom where 91-year old Maurice R. (“Hank”) Greenberg began testifying this week has all the… The War on Hank Greenberg… Read More »

Is Deutsche Bank about to become the next Lehman?

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US fine of $14 billion has plunged pillar bank into crisis that could go beyond German borders Derek Scally Berlin No matter how hard it tries, Deutsche Bank’s subprime chickens keep coming home to roost. This week’s crisis: the aftershocks of a $14 billion fine… Source: Is Deutsche Bank about to become the next Lehman? Read More »

Positive UK data may put pause on deficit reduction

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GDP figures means post-Brexit vote recession and further interest rate cut look more unlikely giving chancellor wriggle-room to pause planned cuts Larry Elliott It is still early days, but the UK economy should avoid the immediate post-Brexit vote recession many forecasters had predicted… Source: Positive UK data may put pause on deficit reduction | Business | The Guardian Read More »

Three Japan conglomerates aim to merge nuclear fuel operations: Source

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By Makiko Yamazaki and Kentaro Hamada TOKYO (Reuters) – Three Japanese conglomerates are in talks to combine their loss-making domestic nuclear fuel operations, a person with direct knowledge of the matter said, as the outlook for restarts of reactors following the Fukushima nuclear crisis remains bleak. Hitachi Ltd, Toshiba Corp and Mitsubishi Heavy Industries Ltd aim to… Source: Three Japan conglomerates aim to merge nuclear fuel operations: Source – Asia Times Read More »

Central Bank Crisis Risks Famine in Yemen

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Efforts to move Yemen’s Central Bank will likely add to risks of insolvency and starvation, while complicating and deepening civil war divisions. Regional and international powers should rally round this critical institution and… Source: Central Bank Crisis Risks Famine in Yemen | International Crisis Group Read More »

Chinese investors pay A$88.88m for Sydney property

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Business sense suggests you try to buy property at the lowest possible price, but that was not the case for one property in Sydney, Australia. It was just bought by Chinese buyers for A$88,888,888.88. The number eight is considered lucky in Chinese as it sounds like the… Source: Chinese investors pay A$88.88m for Sydney property – BBC News Read More »

Brexit ‘will make Britain BETTER OFF than other EU countries’

LEAVING the European Union will make Britain richer than other nations in the bloc within five years, a German businessman has admitted. By CHARLIE PEAT Going against the doom-mongering Project Fear predictions that Britain’s economy would suffer because of Brexit, Mathias Dopfner – chief executive of Axel Springer publishing – Mathias Dopfner revealed the… Source: Brexit ‘will make Britain BETTER OFF than other EU countries’ | UK | News | Daily Express Read More »

If you want to measure the health of the economy, forget about “employment”

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Work dominates pretty much everything. Whether or not you have it, it’s probably taking up most of your time. Employment is the most-common indicator of economic health and nearly all of the public debate about economics has to do with creating… Source: If you want to measure the health of the economy, forget about “employment” – New thinking for the British economy Read More »