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Latest Articles: Business/Finance
G7 agree ‘in principle’ to add Chinese currency to IMF basket
Post Date: 2015-05-31 06:48:49 by Tatarewicz
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RT... The finance ministers of G7 have supported the inclusion of the yuan in the IMF currency basket. The decision means the yuan has gained international recognition after Beijing was accused of artificially curbing the exchange rate for more than ten years. However, the issue has to be discussed thoroughly first, said German Finance Minister Wolfgang Schaeuble on Friday concluding the meeting of G7 finance ministers and central bank governors in Dresden. "We were completely agreed that it is desirable in principle, that the technical conditions must be examined, but there are no politically divergent views on this," Schaeuble said adding that there still are technical and ...
A gold rush in Texas?
Post Date: 2015-05-31 03:41:07 by X-15
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AUSTIN — Texas — long known for cattle, cowboys and oil — could soon be on the map for something much different. Gold. State Rep. Giovanni Capriglione asked the Legislature to create a Texas Bullion Depository, where Texas could store its gold, which is now in New York, and where others could keep their precious metals. The Southlake Republican must have the golden touch, because the House and the Senate have signed off on his plan and his bill appears headed to Gov. Greg Abbott for consideration. “We are not talking Fort Knox,” Capriglione said. “But when I first announced this, I got so many emails and phone calls from people literally all over ...
WE NEED ACTUAL FREE TRADE, NOT THE TPP
Post Date: 2015-05-30 17:17:07 by Ada
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It protects foreign, off-shore companies at the expense of American jobs and manufacturing Brendan Nyhan at The New York Times seems to be under the impression that the Trans Pacific Partnership (TPP) has something to do with free trade. Nyhan writes that the TPP is the latest step in a decades-long trend toward liberalizing trade — a somewhat mysterious development given that many Americans are skeptical of freer trade. But Americans with higher incomes are not so skeptical. They — along with businesses and interest groups that tend to be affiliated with them — are much more likely to support trade liberalization. Nyhan is probably correct that much of the population ...
Tony Blair Not Leaving Middle East After All
Post Date: 2015-05-30 14:28:09 by Stephen Lendman
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Tony Blair Not Leaving Middle East After All by Stephen Lendman Despite resigning as Middle East envoy, he's maintaining his regional activities. They made him super- rich. It's anyone's guess how much wealth he amassed. Greed drives him. He wants more. He's remaining active on regional affairs despite no formal role. An overt racist, RT International reported he wants to be an Israeli/Arab bridge-builder - "drawing on relationships he has in the region." He wants to build his considerable fortune to an even greater one. He wants his status as a world figure maintained. He strongly supports Israel and key regional Western allies - for sure not Palestinians ...
A Remembrance … Car Sales … and the Death of Cash
Post Date: 2015-05-30 11:39:53 by BTP Holdings
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A Remembrance … Car Sales … and the Death of Cash Money and Markets | Saturday, May 30, 2015 at 7:30 am Here’s a quick, executive summary of stories from this past trading week, with a link to the full articles online. A Remembrance for Memorial Day On Monday, stocks and bonds neither rose nor fell. The reason: 44 years ago, in 1971, President Richard Nixon declared the last Monday in May a federal holiday — the day we remember America’s fallen soldiers. Martin D. Weiss looks at past wars and what America is going through now. Click here to read more. Car Sales Driverless cars may force big changes on mass-market producers. Coming Crash in Car Sales Jon ...
Intel builds smart energy lab with Chinese company
Post Date: 2015-05-30 05:24:33 by Tatarewicz
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Want...) US-based semiconductor chip maker Intel announced on May 28 the completion of a smart energy union laboratory jointly built with China's Smart Energy Industry Technology Innovation Strategy Union, reports yicai, the online portal of Shanghai's China Business News. The Smart Energy Industry Technology Innovation Strategy Union signed the strategic cooperation agreement with Intel at the first Intel energy solution summit last year. The two parties agreed to promote the development of internet-connected energy in China based on Intel's Quark processor and the IEEE1888 international standard, the first China-initiated ICT standard recognized by the international ...
Walmart launches O2O platform in China
Post Date: 2015-05-30 05:15:19 by Tatarewicz
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Want... World's largest retailer Walmart launched its first O2O service platform in China, along with a smartphone app providing customers with delivery service and allowing them to pick up goods in any Walmart stores after shopping through the mobile app and online payment systems, reports Beijing-based news agency Caixin Online. The Online-to-offline (O2O) service platform is an extension operation in addition to the brick-and-mortar stores. It is Walmart China's first strategic move, marking an important milestone for the company's operation in the Chinese retail marker, said Walmart China president and CEO Sean Clarke at the launch event on May 26 in Shenzhen. The O2O ...
US-Guaranteed Bonds Will Not Save Ukrainian Economy - Analysts
Post Date: 2015-05-30 04:45:09 by Tatarewicz
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© Sputnik/ The news that Ukraine issued $1 billion bonds guaranteed by the US surprised investors. According to economists, the bonds are not top rated and will not help the Ukrainian economy avoid default. Game Over: Ukraine on Brink of Economic Collapse Despite Ukrainian $1 billion bonds being guaranteed by the Unites States, they are not likely to help the Ukrainian economy, experts told RIA Novosti. On May 27, the Ukrainian government announced it would issue $1 billion worth of five-year bonds guaranteed by the US. The bond rate is 2.5 percent or less, and the payoff is due in 2020. Yield on the bonds will be paid annually on November 29 and May 29, starting November 29, 2015. ...
First Quarter GDP Shrinks By 2.9%, Worst Pullback In 5 Years…
Post Date: 2015-05-29 12:43:59 by Jethro Tull
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BREAKING: First Quarter GDP Shrinks By 2.9%, Worst Pullback In 5 Years… Obamanomics. WASHINGTON — The U.S. economy contracted at a worse pace than previously estimated in the first quarter, marking its sharpest pullback since the recession ended five years ago. Gross domestic product, the broadest measure of goods and services produced across the economy, contracted at a seasonally adjusted annual rate of 2.9% in the first three months of the year, according to the Commerce Department’s third reading released Wednesday. That was the fastest rate of decline since the first quarter of 2009, when output fell 5.9%. Commerce had previously estimated output fell by 1% in the ...
Chinese Yuan May Become World Currency After IMF ‘Approval’
Post Date: 2015-05-29 06:46:59 by Tatarewicz
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Sputnik... On Tuesday, the IMF stated that the Chinese yuan is "no longer undervalued." This would enable China to come closer to its goal: to establish the yuan as a world currency. The rise of the Chinese yuan as a world currency has no more obstacles as it is now considered "no longer undervalued" by the International Monetary Fund, DWN reported. Chinese 100, 50, 20, 10 and 5 yuan bills and Russian 1,000 and 100 ruble bills © Sputnik/ Alexandr Demyanchuk More Russian, Chinese Companies Switching to Yuan Transactions – Bank China was frequently accused by a number of its trade partners of keeping the yuan artificially low to gain trade advantages and make ...
Is the World Moving to a Cashless Society a Positive Development?
Post Date: 2015-05-29 02:24:19 by Tatarewicz
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Sputnik... Denmark and Sweden have almost moved to a cashless society. The rest of the West is close behind. But the convergence of big business, banking and government has many worried. Cash represents freedom and anonymity, while governments are passing laws that strip citizens of these basic rights. 00:00 / 00:00 The man was flying on international flight from Europe to America, on an American airline. With more than 10 hours to go to get to his place, he asked the air stewardess if she would bring him an alcoholic drink. She responded that it would be a certain sum, which was more expensive than it should have been but since the man was, as economists call it, a captive audience, he ...
Jamie Dimon Thinks You’re Lazy and Stupid
Post Date: 2015-05-28 17:19:29 by BTP Holdings
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Jamie Dimon Thinks You’re Lazy and Stupid Posted on May 28, 2015 by Brad Hoppmann He’s controversial, he’s brash, he’s the poster boy for Wall Street banking elitism — and he thinks you’re lazy and stupid. Who else would this be besides JPMorgan Chase (JPM) chairman and CEO Jamie Dimon? This man’s very presence can elicit gooseflesh of the sort we all felt in the fall of 2008. That was when the nation’s banking system was on the verge (so they claim) of virtual collapse. This week, Dimon made headlines again for comments he made at JPMorgan’s annual shareholder meeting. Here’s how the Wall Street Journal’s Moneybeat ...
Global Reset 'Imminent' Warns Acclaimed Author... It Could Happen as Soon as this October... The New Financial System to be Built on This...
Post Date: 2015-05-28 17:06:35 by BTP Holdings
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Global Reset 'Imminent' Warns Acclaimed Author... It Could Happen as Soon as this October... The New Financial System to be Built on This... The U.S. government is on the verge of bankruptcy. They have run up a debt that cannot be repaid, and now must create new dollars to meet their obligations. In other words, they're trying to fix the debt problem by inflating the currency. Of course, anybody with some common sense knows this won't work. Renowned financial analyst and author of The Big Reset, Willem Middelkoop, says: "A system reset is imminent. There are only two options: a financial reset planned well in advance, or a hastily implemented one on the back of a ...
Black October, 2015 The Beginning of the End...
Post Date: 2015-05-28 16:53:57 by BTP Holdings
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Three powerful economic cycles converging in one time and one place ...
Three financial catastrophes for those who fail to heed the warning signs ...
Four windfall profit opportunities for those who prepare NOW ...
Poster Comment:
Be prepared or be dead.
McDonald's response to the $15 dollar an hour minimum wage [Full Thread]
Post Date: 2015-05-28 09:46:33 by Jethro Tull
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Can the renminbi beat the dollar for currency supremacy?
Post Date: 2015-05-28 07:08:53 by Tatarewicz
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Want... China is pushing for inclusion of its currency in the International Monetary Fund's Special Drawing Rights basket, which is due for its five-year review this year. China's planned launch of an international payment system to process cross-border yuan transactions in September will challenge the US dollar's dominance in global trade and help Beijing build a leading role in Asian and global financial markets. The greenback's dominance in global trade and financial markets has begun to weaken because of the currency's co-dependence with US military power, which is seeing structural changes. With a defense budget of US$580 billion and a troop presence around the ...
Russia, Venezuela agree on massive $14bn oil & gas investment deal
Post Date: 2015-05-28 06:52:06 by Tatarewicz
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RT... President of Venezuela Nicolas Maduro says his country has reached an agreement with Russia, which will see investment of $14 billion in the oil and gas sector over the next few years. The agreement was reached between the Venezuelan state oil firm, PDVSA (Petroleos de Venezuela) and the Russian oil giant, Rosneft, after talks in the South American country’s capital, Caracas, between Maduro, the president of PDVSA, Eulogio Del Pino, and the president of Rosneft, Igor Sechin. "We had a great meeting and agreed on investment of over $14 billion,” said Maduro in a television address, following a meeting with Sechin. He added that the funds would go towards doubling ...
Saudis set to maintain oil output levels
Post Date: 2015-05-28 01:34:06 by Tatarewicz
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PressTV... Persian Gulf oil-producers, led by Saudi Arabia, are set to keep their current rate of crude production, analysts revealed on Tuesday. Several analysts, polled by AFP in several countries in the Persian Gulf, believe that Arab oil-producing countries will resist attempts to cut output at the next month meeting of the Organization of the Petroleum Exporting Countries (OPEC). An economist from Saudi Arabia, Abdulwahab Abu-Dahesh, said that “preserving market share still remains a top priority for (Persian) Gulf states." "This time they are even encouraged by signs their November strategy is working after a drop in US shale oil production and in the number of ...
SECRET MEETING IN LONDON TO “END CASH”
Post Date: 2015-05-27 19:14:49 by Ada
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Central banks aim to institute "governmental approval" for all purchases and sales Economist Martin Armstrong claims there is a “secret meeting to end cash” set to take place in London before the end of the month involving representatives from the ECB and the Federal Reserve. Armstrong, who is known for successfully predicting the 1987 Black Monday crash as well as the 1998 Russian financial collapse, expressed his shock that no news outlet has reported on this upcoming conference. “I find it extremely perplexing that I have been the only one to report of the secret meeting in London. Kenneth Rogoff of Harvard University, and Willem Buiter, the Chief Economist ...
China Focus: New image of Made-in-China
Post Date: 2015-05-26 22:34:54 by Tatarewicz
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BEIJING, May 26 (Xinhua) -- When Chinese technology firm DJI was founded in 2006, the idea of civilian drones was far beyond the grasp of ordinary consumers. In less than 10 years, the Shenzhen-based company is now a leading manufacturer of commercial and recreational drones for aerial photography and videography. Its products currently account for almost 70 percent of the market share worldwide, with Europe and North America its biggest customers. "We can proudly say DJI opened up the civilian-drone market," said Shao Jianhuo, director of the company's public relations department. DJI is one of the many emerging Chinese companies refuting the long-existing image - cheap ...
Forget Bitcoin!
Post Date: 2015-05-26 16:29:11 by BTP Holdings
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Dear Reader, An alternative currency – already in circulation across America – could soon explode in value. As you’re about to discover, it could hand you as much as $56,700 over the next 9-12 months. Some people are already calling it the “next Bitcoin.” And that’s saying a lot. As you may know, Bitcoin is the digital “cryptocurrency” that has disrupted economies worldwide. It has also made some investors a fortune along the way. Over the course of just three years, Bitcoin’s value skyrocketed more than 1,632,316%. You could have bought $10,000 worth of Bitcoin… and exchanged it for $163.2 million (in U.S. dollars) just 36 months ...
US billionaire close to buying Time Warner for $55 billion
Post Date: 2015-05-26 06:47:45 by Tatarewicz
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Presstv... American company Charter Communications is clinching a deal to buy Time Warner Cable for about $55 billion. Charter, mostly backed by American billionaire John C. Malone, is set to buy the company following a deal that may be announced as soon as Tuesday, the New York Times reported on Monday. Charter is said to be paying some $195 a share in cash and stock, an amount approximately 14 percent higher than the cable telecommunications company’s closing stock price on Friday. The deal would bring about a new mega-merger in the US media industry. The European telecommunications company Altice agreed to pay some $9 billion to buy Suddenlink last week. Meanwhile, Charter was ...
China solicits private investors for PPP projects
Post Date: 2015-05-25 08:44:25 by Tatarewicz
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BEIJING, May 25 (Xinhua) -- China top economic planner has announced the details of 1,043 proposed projects in which private investors are invited to participate through public-private partnerships (PPP). Focusing on infrastructure and public services such as water conservation, transport and environmental protection, the investment needed for these projects totals 1.97 trillion yuan (322 billion U.S. dollars), according to statements posted on the National Development and Reform Commission (NDRC) website on Monday. PPP refers to long-term cooperation between governments and private companies on projects that are mainly funded and operated by the latter and supervised by the former. ...
Iran to build 48 power plants in Indonesia
Post Date: 2015-05-25 03:13:23 by Tatarewicz
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PressTV... Iran and Indonesia have reached a final agreement on building 48 power plants in the Southeast Asian country, Iranian Energy Minister Hamid Chitchian has said. With Indonesian Coordinating Minister for Economics Sofyan Djalil in Tehran, the two sides finalized a deal under which Iranian companies will build small-sized hydroelectric power plants in the archipelago. Djalil said Indonesia plans to construct 48 dams in the next five years along with a series of 1-10 megawatt hydroelectric power plants. The Indonesian minister visited Tehran at the head of a delegation to attend the 11th session of the two countries’ joint economic commission. They wrapped up their talks on ...
China manufactures first car for US market
Post Date: 2015-05-24 07:07:10 by Tatarewicz
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By PAUL WELITZKIN in New York(China Daily USA) Print Mail Large Medium Small 分享按钮 0 The first Chinese-made car for the US market -- a Volvo -- has rolled off the assembly line and will be available this summer. The luxury sedan was manufactured on May 22 at the Volvo plant in southwest China's Chengdu city. Volvo, based in Gothenburg, Sweden, is owned by the Chinese company Zhejiang Geely Holding Group Co, in Hangzhou, Zhejiang province. Geely purchased Volvo from the Ford Motor Co in 2010. Volvo has operated an assembly plant in Chengdu in Sichuan province since 2013. “The car we will export from our Chengdu plant to the US is a long-wheel-base ...
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