Business

Australian politics a billion-dollar business, say latest donation records

Newly-released donation and financial records show Australian politics is now a billion-dollar business. SBS Australian politics is now a billion-dollar business, the latest donation records reveal. The major parties raked in more than $154 million in political donations, returns on investments and asset sales in 2017/18. As well, their associated entities have lodged $926 million, according to Australian Electoral Commission figures released on Friday. West Australian Greens convener Chilla Bulbeck was the largest individual political donor last year, gifting almost ... Read More »

Europe PANIC: The EU is getting ‘more FRAGILE DAILY’ amidst single market BREAKDOWN

THE European Union is getting more fragile every day and they will consequently stop at nothing to preserve their weakening single market, according to former Greek finance minister Yanis Varoufakis. Freddie Jordan Express The politician spent an enormous amount of time negotiating with the EU during his time in the Greek government. But the bloc’s fragility might also encourage a no-deal Brexit, Mr Varoufakis explained. He told BBC Newsnight on Wednesday evening: “The EU feels more fragile daily and they would much rather ... Read More »

The Threat of a Eurozone Recession

The eurozone may fall into a new recession by the end of this year, with potentially nasty political consequences. Lucrezia Reichlin Project Syndicate In addition to countering the cyclical slowdown, pro-European forces must urgently address the continent’s long-term structural economic problems. LONDON – National statistical offices and international organizations are busy revising down their growth forecasts for Europe this year and next. Although they are doing the same for the rest of the world as well, and for China in ... Read More »

Unhappy, unhealthy lives aren’t fair exchange for higher incomes

In his Australia Day address, social researcher Hugh Mackay said that “the Australia I love today – this sleep-deprived, overweight, overmedicated, anxious, smartphone-addicted society – is a very different place from the Australia I… Ross Gittins Brisbane Times He identified three big changes: the gender revolution, increasing disparity in wealth, and social fragmentation. He approves of the first, but laments that we’re “learning to live with a chasm of income inequality” and that social fragmentation means Australians are become “more ... Read More »

Sweden Officially Backs a CryptoCurrency and Establishes it as their Official Coin

It’s finally happened. A major worldwide government has just bestowed a huge vote of confidence and legitimacy onto the world of cryptocurrencies. Sweden, in an unprecedented move, just announced that they are officially adopting a… The Swedish government just informed us that they have chosen a preferred firm for the purchase and marketing of their new coin – Kryptonex Research Group. The sales of Sweden’s coin officially started January 28 of 2019January 18 of 2019 and currently these coins can be bought ... Read More »

The growing problem that could lead the world into a new kind of financial crisis

One particularly caustic attendee described this year’s Davos as a “reunion of losers”. Ben Wright The Sydney Morning Herald That might seem an odd thing to say given the Swiss mountain resort must have housed the greatest concentration of millionaires and billionaires anywhere on the planet over the past week. But he was alluding to how tarnished the company brands adorning the shop fronts along the promenade have become over the past year and the extent to which the mood ... Read More »

Has Big Business Hijacked Veganism – And Sold It Back To Us?

It’s grammable, it’s aspirational and it’s worth billions a year. Sara Spary HuffPost “I remember the days where a jacket potato and beans was as good as it got,” says Collette Gray as she peruses the groaning shelves of Waitrose’s vegan aisle. In 20 years of being a vegan, she has never encountered anything like this kind of choice at the supermarket – from jackfruit and kidney bean chilli sauce, to porcini and spinach ravioli, beet wellington and… “When I ... Read More »

How technology is disrupting the legal sector – to its benefit

Innovative law firms using artificial intelligence to save on cost, time and lawyers Sandra O’Connell The Irish Times The legal sector, like financial services and the media, is undergoing digital disruption. The difference is that law firms are initiating this disruption themselves. In October 2018, A&L Goodbody was named the most innovative law firm in Ireland at the Financial Times Innovative Lawyers Awards. The award recognised the firm’s use of technology in providing innovative client solutions – including its use ... Read More »

Europe in pieces: Where voters disagree

How a divided Continent faces the 2019 election. By Ryan Heath, Arnau Busquets Guàrdia, Hanne Cokelaere and Hanna Pawelec Politico The European Parliament election in May is expected to produce a major turnover in political power in the EU’s institutions, with populist parties making new gains and voters across the bloc split on what issues to prioritize in the ballot.  But what are voters most concerned about and do they trust the European Union to deliver? Here’s a look at ... Read More »

No thanks Brussels! British fishermen tell May to REJECT EU’s no-deal Brexit fishing plans

EU chiefs will launch an attempt to guarantee European fishermen access to British waters in the event of a no-deal Brexit, it has emerged. By JOE BARNES, BRUSSELS CORRESPONDENT Express EU Commission contingency planning reveals eurocrats will seek to secure Europe’s fishermen continued access to British fishing waters as part of a deal to limit the disruption of a hard Brexit. Brussels will also move to spend taxpayers’ money in order to compensate the bloc’s fishing vessels to “help off-set some ... Read More »

Corporations ‘failing to pay proper tax rates’ in EU

An investigation by the Greens in the European Parliament has shown big companies throughout the bloc are failing to pay their statutory taxes. The party has called for more social responsibility. Jane Mcintosh DW The only state in the EU where big corporations pay the statutory rate of tax is Bulgaria. In all other states, they pay, on average, less than the official rate. Those are among the key findings in a report is to be presented in Brussels Tuesday by ... Read More »

Davos: leaders talk about globalisation as though it’s inevitable – when it isn’t

Global leaders have descended on the Swiss ski resort of Davos for the World Economic Forum’s annual meeting. Jennifer Johns The Conversation This year’s theme is “Globalisation 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution”. On the agenda is how countries can respond to and shape changes in how goods are produced, distributed and consumed. It is based on the idea that the world is entering a fourth industrial revolution, where a new wave of ... Read More »

World’s 26 richest people own as much as poorest 50%, says Oxfam

Charity calls for 1% wealth tax, saying it would raise enough to educate every child not in school Larry Elliott The Guardian The growing concentration of the world’s wealth has been highlighted by a report showing that the 26 richest billionaires own as many assets as the 3.8 billion people who make up the poorest half of the… In an annual wealth check released to mark the start of the World Economic Forum in Davos, the development charity Oxfam said 2018 had ... Read More »

Davos 2019: Global elites in crisis as they gather amid populist assault and accusations of failure

World leaders meet as once-dominant ideology of global trade threatened by nationalism Facing populist backlash and a worrying economic outlook, the world’s financial and political elite will gather in Davos, Switzerland, on Tuesday to discuss the future of global politics. Conrad Duncan Independent The influential World Economic Forum (WEF) takes place as nationalist movements continue to gain strength across Europe and the Americas, and the event’s once-dominant ideology of unrestricted global trade and… In France and the UK, politicians have struggled through months of chaos, caused by the gilets jaunes (yellow vests) movement and… Davos ... Read More »

Lebanon restricts dollar cash-outs in bid to bolster currency

A central bank decree that foreign currency entering via non-financial institutions must be cashed out in Lebanese pounds has sparked fears of a currency crisis Nasser Elamine Asia Times The Lebanese Central Bank has issued a circular requiring non-financial institutions that carry out money transfers from abroad to begin cashing out the amounts strictly in Lebanese pounds, sparking panic among a… The bank justified the January 14 announcement as a bid to shore up the national currency and to render transfers via ... Read More »

China’s looming great wall of debt may have ‘major global implications’

While many countries struggled following the 2008 global financial crisis, China appeared as though it had largely escaped unscathed. Tasha Wibawa ABC But observers are becoming increasingly concerned Beijing will struggle to repay an ever-increasing mountain of debt, with potential detrimental consequences for the global market. China’s debt has been a key factor to its economic success in riding out the GFC, due to a large government stimulus injected into its economy. However, the financial boost has mostly led to ... Read More »