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Latest Articles: Business/Finance
Giant Equifax data breach: 143 million people could be affected
Post Date: 2017-09-07 21:41:25 by farmfriend
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Equifax says a giant cybersecurity breach compromised the personal information of as many as 143 million Americans — almost half the country. Cyber criminals have accessed sensitive information -- including names, social security numbers, birth dates, addresses, and the numbers of some driver's licenses. Additionally, Equifax said that credit card numbers for about 209,000 U.S. customers were exposed, as was "personal identifying information" on roughly 182,000 U.S. customers involved in credit report disputes. Residents in the U.K. and Canada were also impacted. The breach occurred between mid-May and July, Equifax said. The company said it discovered the hack on July ...
Russian firm seals energy exploration deal to drill South African shelf
Post Date: 2017-09-05 04:02:27 by Tatarewicz
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RT... Russia’s geological research company Rosgeo and South African national oil company PetroSA have signed an offshore drilling agreement on the sidelines of the of the BRICS Summit in Xiamen, China. The deal is worth an estimated $400 million over the next 10 years. Read more © Evgeny Biyatov Russia's Rosneft inks oil production & supply deal with China Rosgeo aims to start exploring two blocks off the country's south coast. The agreement covers a huge amount of geological exploration work, including drilling exploratory wells. The company is expected to undertake 1,500 square miles of 3D seismic operations and over 8,000 miles of gravity-magnetic exploration ...
Norway’s Big Fish Story
Post Date: 2017-09-04 07:50:33 by Ada
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Decision Season With Parliamentary elections looming, more Norwegians than usual are asking themselves the tough questions. It is now apparent that the slump in oil is not a temporary one. What will the country do now? Time for the lottery winner, after receiving the last annuity, to get a job before burning out the savings. Many are looking towards the sea, fishing and exploiting underwater natural resources. Others are looking to blast open the mountains to do the same. However, commodity based economies, third-world in nature, are subject to mother nature’s whims, innovation, and ruthless competition. Moreover, it creates complacency, catching the nation off guard when there is ...
"Economics Nobel Prize" Winners Are Advocating For Universal Basic Income
Post Date: 2017-09-04 05:50:43 by Tatarewicz
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Up until very recently, most people had not heard of universal basic income (UBI). While the idea itself isn't entirely new, its significance has been explored lately because of job displacement fears intelligent automation is expected to bring with it. As such, UBI has been endorsed by experts from various industries, including some of the Silicon Valley's bigwigs. Now, some of the world's top economists are backing it up, too. Speaking at a panel discussion at the 6th Lindau meeting on economic sciences back in June, winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel - more commonly known as the "economics Nobel prize" - ...
A $1,000 per month cash handout would grow the economy by $2.5 trillion, new study says
Post Date: 2017-09-02 09:48:52 by BTP Holdings
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A $1,000 per month cash handout would grow the economy by $2.5 trillion, new study says CNBC Catherine Clifford 7 hrs ago Giving every adult in the United States a $1000 cash handout per month would grow the economy by $2.5 trillion by 2025, according to a new study on universal basic income. The report was released in August by the left-leaning Roosevelt Institute. Roosevelt research director Marshall Steinbaum, Michalis Nikiforos at Bard College's Levy Institute, and Gennaro Zezza at the University of Cassino and Southern Lazio in Italy co-authored the study. The study made economic forecasts for three proposals: a full universal basic income in which every adult gets $1,000 a ...
Japanese companies are looking at upstream tender opportunities in Iran.
Post Date: 2017-09-02 08:58:03 by Tatarewicz
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PressTV... With Japanese companies looking at upstream tender opportunities in Iran, Japan's Ministry of Economy, Trade and Industry (METI) says it has requested an 11% hike in its budget for acquiring exploration and upstream development-stage assets in fiscal 2018-19. A ministry official, quoted by Platts, said METI has asked for a $552.8 million budget for exploration and upstream oil and natural gas assets. Besides Iran, Japanese companies are also considering explorations and surveys in Russia, as well as studying US shale assets, the official said. Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor has said Japan’s Inpex was among the major companies ...
Game Changer: China to Buy Oil With Gold-Backed Yuan
Post Date: 2017-09-02 08:42:26 by Tatarewicz
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RI... Oil exporters such as Russia and Iran will soon be able to bypass the US dollar — and convert their yuan into gold. It begins. Via OilPrice.com: The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian Review reports. The crude oil futures will be the first commodity contract in China open to foreign investment funds, trading houses, and oil firms. The circumvention of U.S. dollar trade could allow oil exporters such as ...
Bitcoin price surpasses $5,000 for first time
Post Date: 2017-09-02 05:27:28 by Tatarewicz
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RT... The price of Bitcoin surpassed $5,000 for the first time, reaching a historic new high for the cryptocurrency, before quickly dipping back below the record-breaking mark. Bitcoin hit a high of $5,013.91, according to the CoinDesk index, on Friday and stayed above the mark for 10 minutes of trading, before falling back to a low of $4,867.19. Read more © Artur Cupak / Global Look Press Technology behind bitcoin could replace physical gold trading The cryptocurrency reportedly reached its highest market price of $5,149 thanks to Chinese bitcoin exchange OkCoin. Bitcoin’s surge in popularity is largely down to a growing interest in cryptocurrencies, improved technologies, and ...
World’s major banks working on blockchain-based settlement currency
Post Date: 2017-09-01 07:52:00 by Tatarewicz
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RT... Six big banks have joined a group developing a new settlement currency based on blockhain technology, which is behind bitcoin, ethereum, and other cryptocurrencies. Read more © Artur Cupak / Global Look Press Technology behind bitcoin could replace physical gold trading Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG and State Street have joined UBS, BNY Mellon, Deutsche Bank, Santander, NEX and blockchain startup Clearmatics in a project to create a the “utility settlement coin”. The currency was originally started by UBS. The project could pioneer the issue of cryptocurrencies by central banks. "It may well inform the way central banks ...
Mexico open to cooperation with BRICS: trade group
Post Date: 2017-08-30 02:54:19 by Tatarewicz
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MEXICO CITY, Aug. 29 (Xinhua) -- Mexico is open to cooperation with the BRICS countries, which comprise Brazil, Russia, India, China and South Africa, the president of the Mexican industrial business chamber Canacintra said on Tuesday. The potential to work with other regional blocs has taken on even greater relevance for Mexico today, as it seeks to diversify its trade alliances and export markets, said Canacintra chief Enrique Guillen. "We are not closed to collaborating with other blocs, least of all now that modernizing has become a priority for our country," Guillen said in a statement. Mexico would do well to forge closer ties with BRICS, as it seeks to bolster its ...
Burger King Russia Launches 'Whoppercoin' - the Fast-Food Industry's First Digital Currency
Post Date: 2017-08-29 06:03:34 by Tatarewicz
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RI... In what we believe to be a first for the global fast-food industry, Burger King Russia has reportedly created a virtual currency called the “Whoppercoin.” The company has reportedly issued one billion of the tokens using the Waves blockchain platform. According to Fortune, the coin was launched alongside a new loyalty program: For every Whopper purchased, customers will receive one Whoppercoin. However, it’s unclear if the company will accept the digital tokens as payment. “The Whoppercoin launched in tandem with a new loyalty program. For each Whopper burger customers purchase, they'll receive one Whoppercoin in a special cryptocurrency wallet. While the ...
Long-Term Uptrend in Russian Stocks Has Resumed
Post Date: 2017-08-27 07:14:23 by Tatarewicz
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RI... Russian equities have bounced nicely since the U.S. Senate passed the new sanctions bill back in June. Economic tailwinds and likely rate cuts should support a further rally in the second half of 2017. From my latest article at Seeking Alpha: But that marked the bottom in the Russian MICEX Index, not the beginning of the end. Since then the Russian stock market has risen 200 points (11.2%) and has resumed its uptrend from a monthly perspective. This has occurred even though Gazprom (OTCPK:OGZPY), one of its biggest contributors (15% of weighting) has gotten killed. This should underscore for you just how strong the situation is in Russian equities. Trade volumes for July were up ...
Was President Bush's great-grandfather a Nazi?
Post Date: 2017-08-26 13:01:28 by BTP Holdings
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Was President Bush's great-grandfather a Nazi? Remember how during the Clinton era there were all those rabid EOBs (Enemies of Bill) who seemingly devoted their every waking hour to propagating scurrilous stories about the president and his family? Well, an equally dedicated crew is now spreading sensational allegations about Dubya and his forebears. (Sample: the president's grandfather not only financed the Nazis, he used concentration-camp prisoners as slaves.) So each side gets a chance to drag the other through the mud. Is this a great country or what? Though the Bush family's detractors are legion, one of the most prominent is John Loftus, a former federal prosecutor and ...
TRUMP: ‘We’ll Probably End up Terminating NAFTA’
Post Date: 2017-08-24 06:34:45 by HAPPY2BME-4UM
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President Trump drew strong cheers during his Phoenix rally when he indicated that he will probably end up terminating NAFTA.Breitbart reported:Donald Trump sent a warning to Mexico on Tuesday night about the NAFTA renegotiations.Quote“Personally, I don’t think we can make a deal because we have been so badly taken advantage of,” Trump said during the Arizona rally. “I think we’ll probably end up terminating NAFTA at some point.”Trade representatives from the U.S., Canada, and Mexico met in Washington, D.C. last week to begin the renegotiation of the trade deal. The U.S. took a tough stance at the meeting, telling Canada and Mexico that NAFTA had ...
Hiring the Inner-City Unemployed
Post Date: 2017-08-23 09:34:04 by Ada
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The Dog that Does Not Bark In Sir Arthur Conan Doyle’s “Silver Blaze” Sherlock Holmes uses the fact that a dog did not bark during the night as evidence to unravel a crime, the theft of a race horse. Holmes reasoned that the perpetrator was known to the dog since the dog failed to bark, so QED, the theft was an inside job. The phrase “the dog that did not bark” has over the years come to mean the significance of a non-event, say, an unexpected omission in an important political speech. The current debate over immigration and illegal aliens illustrates a dog that does not bark. Specifically, newspapers like the Wall Street Journal regularly recount how businesses ...
War in Yemen a Bonanza for U.S. and U.K Arms Merchants
Post Date: 2017-08-22 07:14:36 by Ada
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Is this why Saudi allies won't help stop the war? The civil war in Yemen is now in its third year. As a direct result of the war and the blockade imposed by Saudi Arabia and its allies, Yemen is now the scene of the world’s most pressing humanitarian crisis. There is a cholera epidemic—a half a million Yemenis have been infected—millions face starvation, and the country’s infrastructure has largely been destroyed by Saudi Arabia’s indiscriminate aerial campaign. Al-Qaeda in the Arabian Peninsula (AQAP) controls large swaths of southern Yemen where it is now the best organized and most capable organization operating there. The war is a gift to AQAP but it is ...
China's high speed rail tech copied by foreign countries: experts
Post Date: 2017-08-22 07:00:06 by Tatarewicz
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(People's Daily Online) After China's leading high speed rail became a major driving force for the country's economy, some countries have started copying and replicating China's technologies, bringing severe losses to the country, said experts with a branch of Shanghai People's Procuratorate in an article published on the website of Procuratorial Daily on Aug. 16. The rapid development of China's high speed rail comes with the problem of IP protection. Ineffective protection of the core technologies will directly cause a negative impact on the sustainable development of the industry. According to the article, it took China years to fully grasp the core ...
Western World Failing Now – Clif High
Post Date: 2017-08-21 08:00:21 by Tatarewicz
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usawatchdog Renowned Internet data mining expert Clif High says the rise of crypto currencies is nothing more than a reflection of failing states in the West. High, who uses what he calls “predictive linguistics” to forecast future trends, contends, “Here we are in a failing state, and basically, all of the western republics are failing states. We are so far in debt we can’t ever recover. So, our ability to trade has weakened anyway, and yet, we are going to launch a trade war with Russia? This is really a lot of smart thinking there fellows. On top of that, we have this giant move in cryptos. As the dollar dies and keeps shrinking, it’s got to go somewhere, and ...
Concerns growing over scale of China’s debts
Post Date: 2017-08-20 04:09:20 by Tatarewicz
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PressTV... A prominent Chinese economist has warned that the country’s growing debt is already affecting not only its domestic economy but would also eventually affect other countries, as well. "Everyone knows there’s a credit problem in China, but I find that people often forget about the scale. It’s important in global terms," Charlene Chu said in an interview with the Financial Times. Chu, who made her name warning of the risks from China’s credit binge, predicted that by the end of the year, the country will accumulate $7.6 trillion worth of the so-called "bad" debt. The comment came the day after the International Monetary Fund (IMF) warned ...
Major Sanctions Escalation? Informed Sources Say Russian Bank Disconnected From SWIFT
Post Date: 2017-08-19 01:35:32 by Tatarewicz
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RI... What is the foreign policy game plan ranged against Russia? It looks like the first serious baby-steps to an existential sanctioned escalation may have just been quietly taken. It may very well be that the first Russian bank was disconnected from SWIFT. While I have not heard any confirmation, the word on the Moscow financial grapevine persists. The Russian "Tempbank" (www.tempbank.ru/eng/) whose management has been individually sanctioned by the US for ongoing trade with Syria and Iran was disconnected from SWIFT according to apparently “informed sources". It seems after the sanctions were removed from Iran a while ago Tempbank went ahead and legally opened ...
Ukraine's Trade With Russia Is Rapidly Increasing
Post Date: 2017-08-18 17:13:24 by Ada
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Kiev is doing more and more business with a nation it claims is at war with Ukraine Ukraine’s volume of trade with Russia collapsed after 2014. It will probably never recover, but it remains very significant for Ukraine, and what is more, is rising rapidly: Despite the improving trade with the EU, Russia still plays an extremely important role in Ukraine’s trade: the trade turnover with Russia was just under $5bn for the same period, with both exports and imports rising at the about the same pace as those with the EU. After a heavy decline, exports to Russia are rising again, which were up by 26.4% in the first half of this year to $1.93bn. However, this increase off a very ...
DIGITAL ACTIVISTS SLAM TECH FIRMS FOR BANNING NEO-NAZI WEBSITES
Post Date: 2017-08-18 16:18:17 by Ada
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Electronic Frontier Foundation warns against dangerous censorship As social media and internet companies scramble to ban or otherwise cut ties with extremist and far right-wing websites like the neo-nazi Daily Stormer, which were unceremoniously dropped by the likes of GoDaddy, Google and security firm Cloudflare earlier this week after helping to organize last weekend’s deadly “Unite the Right” rally in Charlottesville, a prominent nonprofit has come forward to defend them. The Electronic Frontier Foundation, or EFF, best known for its activism surrounding net neutrality has a simple message: even though you don’t agree with their message, banning people from the ...
Iran, Russia, Turkey mark a new turn with $7 billion drilling deal
Post Date: 2017-08-16 07:26:38 by Tatarewicz
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PressTV... Turkey’s Unit International which signed a drilling deal last week with Russia's state-owned Zarubezhneft and Iran's Ghadir Investment Holding says the contract is worth $7 billion. The drilling in Iran will take place at three oil fields estimated to hold 10 billion barrels of reserves and produce 100,000 barrels per day and a large natural gas field with a production capacity of 75 billion cubic meters per day, the company said on Tuesday. Unit did not name the field but said its reserves are enough to meet Turkey's gas demands for the next 150 years, with the production equal to 1.5 times the 50 billion cubic meters of gas which Turkey imports annually. ...
Are bitcoin & other cryptocurrencies overhyped & dangerous?
Post Date: 2017-08-16 07:12:28 by Tatarewicz
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RT... With the main stream media caught up in bitcoin hype as the cryptocurrency smashes another all-time high this week, few stories cover the possible dangers of the phenomenon. Anonymity is not always right In the most recent incident last week, hackers demanded a ransom of at least $6 million in bitcoin from HBO to stop leaking spoilers and episodes from the new season of Game of Thrones. Bitcoin transactions are ideal for criminals because they are hard to track. While some may not sympathize with a TV channel with a multibillion dollar market cap, the same blackmail technique could be used against any of us, and there is little likelihood the criminals would be caught. HBO offered ...
Check Out The Beginner's Guide to Cryptocurrency Investing
Post Date: 2017-08-15 06:34:00 by Tatarewicz
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. SCIENCEALERT We've heard a lot about cryptocurrencies recently. Bitcoin is the most popular, but there are lots of cryptocurrencies making a break for it on the currency market. But which one should you pick, how do you purchase coins, and how do they even work? Cryptocurrencies are digital currencies in which encryption techniques are used to regulate the generation of units and verify the transfer of funds. For the savvy investor they could be goldmines. That's why our ScienceAlert Academy deal for this week is the Beginner's Guide to Cryptocurrency Investing. In this guide, you'll learn the instructor's system for investing in altcoins, understand how to turn ...
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