Finance

After Libya’s Oil Grab, Compromise Could Lead to a Restart of Exports

The seizure of Libya’s main pre-2013 oil terminals by an opposition force is a blow to the authority of Libya’s fledgling UN-backed Presidency Council. Claudia Gazzini But smart compromises might help restart the flow of oil, as Crisis Group’s Senior Libya analyst Claudia Gazzini explains in this Q… Source: After Libya’s Oil Grab, Compromise Could Lead to a Restart of Exports | International Crisis Group Read More »

Greece is still grinding toward Grexit

Stephen Pope The Greek economy grew between April and June; although only by 0.2% An estimate by the statistics service show it shrank by 0.9% year-on-year Following sales-tax increases and pension cuts, consumer spending has fallen The economy has contracted by 25% since the debt crisis in 2009 It is time to be seriously contemplating “Grexit” once again It has been a while since I took a look at the tricky trouble spot of the… Source: Greece is still grinding ... Read More »

The Cost of Keeping Companies in the United States

How should we stop corporations from leaving the United States, as both presidential candidates have vowed to do? By BRENT GLOVER and OLIVER LEVINE After Pfizer announced this year that it wanted to merge with the Ireland-based Allergan in a maneuver known as a corporate inversion, the Obama administration put in new tax rules that effectively scuttled the deal… Source: The Cost of Keeping Companies in the United States – The New York Times Read More »

John McManus: Why we have no right to spend Apple’s €13bn

The money does not belong to us and we should give it back to its owners John McManus One thing that seems to be taken for granted in the debate about what to do about with the putative Apple windfall is that the €13 billion in question is our money and… Source: John McManus: Why we have no right to spend Apple’s €13bn Read More »

The war on cash | openDemocracy

Banks, governments and fintech evangelists all hail a ‘cashless future’ as both inevitable and good. BRETT SCOTT  But this isn’t a frictionless utopia; it means that banks mediate our lives to an ever-greater extent. Source: The war on cash | openDemocracy Read More »

EU to find Apple owes Ireland billions in back taxes

Government to embark on aggressive campaign to rebut the commission’s findings Pat Leahy and Cliff Taylor The European Commission will in the morning find that Apple owes the Irish State “billions of euros” in back taxes when it rules that the… Source: EU to find Apple owes Ireland billions in back taxes Read More »

TTIP Dead: Massive US-EU Trade Deal Falls Apart Says German Vice-Chancellor

The collapse of a signature Obama administration trade pact marks a major defeat for free trade advocates and politico-economic globalism.. Free trade negotiations between the European Union and the United States have fallen apart in recent weeks with Europe reticent to open its agricultural industry to low-cost American “frankenfruits” in addition to concerns over the… Source: TTIP Dead: Massive US-EU Trade Deal Falls Apart Says German Vice-Chancellor Read More »

Is Putin’s Russia Headed for a Systemic Collapse?

Putin’s plan seems to be to sit tight and await a hike in oil prices—but long periods of stagnation haven’t gone well for Moscow in the past. The durability of the Russian political and economic system molded by Vladimir Putin has been the subject of much analysis and speculation, both… Source: Is Putin’s Russia Headed for a Systemic Collapse? – The American Interest Read More »

EU Commission warns Government over USC

Commission also criticises State’s failure to control escalating rents in new report Sarah Bardon The European Commission has criticised the Government’s failure to control escalating rents, and for freezing the amount homeowners pay in local… Source: EU Commission warns Government over USC Read More »

Taiwan’s CTBC Financial, China CITIC Bank cancel deals

TAIPEI/BEIJING (Reuters) – CTBC Financial Holdings, parent of Taiwan’s top credit card issuer, and Chinese state-backed lender China CITIC Bank Corp have cancelled investments in each other amid fresh cross-strait political tensions. It is the first deal collapse since pro-independence Democratic Progressive Party (DPP) leader Tsai Ing-wen became president of Taiwan in May, but… Source: Taiwan’s CTBC Financial, China CITIC Bank cancel deals – Asia Times Read More »

Whose Homes?

Nancy Daniel’s mortgage was repackaged and sold so many times that it was unclear who actually owned the house, until she started getting letters threatening foreclosure. Sarah Jaffe Occupy Our Homes Atlanta helped her fight back. Continue… Source: Whose Homes? | Dissent Magazine Read More »

Higher exports, state spending, propel German GDP growth

German gross domestic product rises by 0.4% in second quarter Higher exports, state spending and private consumption drove a 0.4 percent expansion in German gross domestic product in the second quarter, more than offsetting weaker investment by companies in… Source: Higher exports, state spending, propel German GDP growth Read More »

Parliament could force banking inquiry despite hostile Coalition, says Senate clerk

Exclusive: Key adviser says rare and powerful ‘commission of inquiry’ could be launched without government approval if both houses vote in favour Gabrielle Chan The opposition and minor parties could force a rare and powerful “commission of inquiry” into the banks if the Coalition refuses a royal commission, according to the… Source: Parliament could force banking inquiry despite hostile Coalition, says Senate clerk | Australia news | The Guardian Read More »