Latest Articles: Business/Finance
Boeing to Finance Iran's Purchase of 30 Passenger Planes
Post Date: 2018-01-09 00:41:11 by Tatarewicz
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TEHRAN (FNA)- CEO of Iranian Atiyeh Saba Investment Company Vali Azarvash announced on Sunday that Boeing aviation firm will finance the purchase of 30 new passenger planes by Iran. "License is being received from OFAC (the US Office of Foreign Assets Control) and Boeing is due to finance all the 30 planes of the first package," Azarvash told FNA on Sunday. "The first Boeing plane will be delivered to Iran in 2020," he added. Head of Iran's Civil Aviation Organization Ali Abedzadeh had announced in December that Airbus, ATR and Boeing aviation companies have voiced their readiness to finance the purchase of new passenger planes by Iran. "Iran is following ...
The 5 oil factors to watch in 2018
Post Date: 2018-01-08 06:22:59 by Tatarewicz
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RT,... Oil prices are set to close out the year somewhere around 15 percent up, and the oil market looks more stable than it has in years. But what does 2018 have in store? Most analysts believe more of the same – inventory declines, some shale growth, a gradual increase in the oil price and eventually an end to the OPEC deal. But a lot of uncertainty remains. Here are 5 key issues to watch as we head into 2018. #1 US shale growth Read more © Essam Al-Sudani Oil price could jump to $80 per barrel says economist Jim O’Neill There is no doubt that US shale output is continuing to rise, but there is quite a bit of uncertainty about the magnitude of growth. Expectations have ...
The Real Future of Work
Post Date: 2018-01-06 07:48:13 by Tatarewicz
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Politico... Forget automation. The workplace is already cracking up in profound ways, and Washington is sorely behind on dealing with it. In 2013, Diana Borland and 129 of her colleagues filed into an auditorium at the University of Pittsburgh Medical Center. Borland had worked there for the past 13 years as a medical transcriptionist, typing up doctors’ audio recordings into written reports. The hospital occasionally held meetings in the auditorium, so it seemed like any other morning. The news she heard came as a shock: A UPMC representative stood in front of the group and told them their jobs were being outsourced to a contractor in Massachusetts. The representative told them it ...
FBI Launches New Investigation
Post Date: 2018-01-06 07:05:24 by Ada
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Exactly two weeks after we reported that Attorney General Jeff Sessions instructed DOJ prosecutors to dig into the FBI’s handling of the Uranium One investigation, we learn that the FBI has opened a new investigation of the Clinton Foundation launched by the DOJ – spearheaded by its Little Rock, Arkansas field office, according to John Solomon of The Hill. The probe will focus on pay-for-play schemes and tax code violations, according to law enforcement officials and a witness who wishes to remain anonymous. The officials, who spoke only on condition of anonymity, said the probe is examining whether the Clintons promised or performed any policy favors in return for largesse to ...
Tired of bitcoin? Here are 5 cryptocurrencies to watch this year
Post Date: 2018-01-05 04:05:58 by Tatarewicz
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RT... Bitcoin had a great year which saw its value grow by over 1,300 percent, but it was not the most profitable digital asset in 2017. Here are the virtual currencies that did better than bitcoin and are worth watching in 2018. Ripple The bestseller among the top five of the largest cryptocurrencies. Ripple went from a fraction of a penny ($0.006523) to $2.29, ending the year with an astonishing growth of 35,000 percent, up 350 times in value. With its market cap north of $100 billion, ripple passed the competition to become the world's second most valuable cryptocurrency after bitcoin. Ripple is more known for its digital payment protocol than its cryptocurrency. Here’s an ...
Iranian crisis could send oil to $100
Post Date: 2018-01-04 07:41:15 by Tatarewicz
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RT... Oil prices started the year on a high note as some geopolitical tension pushed aside bearish concerns. Both WTI and Brent opened above $60 per barrel for the first time in years. The protests in Iran were the main driver of the bullish sentiment in the oil market. Anti-government demonstrations swept across the country in recent days, and unlike the widespread protests in 2009, the current rallies are related to economic woes and are also taking place in more cities than just Tehran. "Growing unrest in Iran set the table for a bullish start to 2018," the Schork Report said in a note to clients on January 2. Read more © Isaac Urrutia Oil prices surge to over $65 for the ...
INternet speed issues?
Post Date: 2018-01-03 01:49:44 by titorite
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I'm just curious is I am the only one experience massive internet problems tonight. ON my computer and phones. But not with every application. Some stuff will run...other stuff will not.. I an get here just fine (sorda) but youtube wont load. I ant get to drudge but I can get to the google home page but not past it. I expected net neutrality to make a difference but not this soon and not this drastic. I think My ISP is playing games with its customers to see if we notice... and if we do they can blame the winter only It aint that bad of a winter, not like 2014 or 2015. This winter is just a typical winter. So is anyone else having trouble with internet speeds and connections?
Analyst: Bank of America should consider splitting up
Post Date: 2018-01-02 18:39:48 by BTP Holdings
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Analyst: Bank of America should consider splitting up By Stephen Gandel March 26, 2015 Bank of America might be better off divided, rather than as a union. On Thursday, Mike Mayo, a prominent Wall Street analyst and often critic of the big banks, said that he supported a shareholder proposal to force BofA (BAC) to consider breaking itself up. Mayo said that a number of instances, including the most recent bank stress test, suggest the bank would be better off if it were smaller. Mayo also said his analysis suggests that the bank’s divisions, like investment banking and retail branches, would be worth as much as 25% more if they were broken up into separate companies. Mayo’s ...
Forecast 2018 — What Could Go Wrong?
Post Date: 2018-01-02 09:26:17 by Ada
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The author is a prominent American social critic, blogger, and podcaster, and we carry his articles regularly on RI. His writing on Russia-gate has been highly entertaining. He is one of the better-known thinkers The New Yorker has dubbed 'The Dystopians' in an excellent 2009 profile, along with the brilliant Dmitry Orlov, another regular contributor to RI (archive). These theorists believe that modern society is headed for a jarring and painful crack-up. You can find his popular fiction and novels on this subject, here. To get a sense of how entertaining he is, watch this 2004 TED talk about the cruel misery of American urban design - it is one of the most-viewed on TED. If ...
Nearly a quarter of world’s bitcoins may be lost forever
Post Date: 2018-01-02 06:25:54 by Tatarewicz
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RT... Missing out on bitcoin’s wild rally may not be the worst thing in the world. You could be sitting on a fortune unable to access it. Data shows up to 23 percent of bitcoins currently in circulation may be lost forever. Read more © Sputnik Russian ‘crypto-hypnotists’ help recover lost bitcoin wallets It is impossible to say exactly how many bitcoins are being hoarded and how many will never be recovered. According to estimates from blockchain analysis company Chainalysis, between 2.78 million and 3.79 million bitcoins worth up to $50 billion at current prices are already gone for good. The findings were based on a detailed empirical analysis of the blockchain ...
Plastic bag and bead bans to take effect on Monday in Taiwan
Post Date: 2018-01-02 06:05:36 by Tatarewicz
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TaipeiTimes... Expanded measures restricting plastic bag use in Taiwan will take effect on Monday as the government attempts to reduce waste and promote environmental conservation, the Environmental Protection Administration (EPA) said on Wednesday. The current ban on providing customers with free plastic shopping bags will be extended from seven types of retailers to 14, now also covering pharmacies, medical equipment retailers, electronics stores, bookstores and stationery shops, laundromats, beverage shops and bakeries. The new rules are an extension of a 2002 partial ban covering government facilities, schools, department stores and shopping centers, convenience stores, fast food ...
The China-Russia-Canada-America Train / Tunnel Link?
Post Date: 2017-12-31 07:10:00 by Tatarewicz
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RussiaInsider... The 'peace dividend' was supposed to allow for projects with a positive economic future, like this one. One of the great American sagas was the pioneering and building of railroads to connect the country from the east coast to the west coast, with branched lines covering points north and south. The population and industry of America blossomed in those regions touched by King Rail, and the many junction points along the lines. A similar story took place in Russia at about the same time along the vast trans-Siberia line and its many branches between Vladivostok to St. Petersburg. Today the story is repeating with the One Belt, One road effort to interconnect ...
A Nobel Prize-winning economist thinks we’re asking all the wrong questions about inequality
Post Date: 2017-12-29 07:34:30 by Tatarewicz
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Quartz... America is trying to come to terms with its economic inequality. Does inequality spur growth or kill it? Is it a necessary evil—or necessarily bad? Angus Deaton, an economics professor at Princeton, and the recipient of the 2015 Nobel Prize in economics, is asked questions like these all the time—and he doesn’t see the point. “These are questions I am often asked,” Deaton writes in a column (paywall) for Project Syndicate. “But, truth be told, none of them is particularly helpful, answerable, or even well posed.” Deaton believes the biggest misconception about inequality is that it causes certain economic, political, and social processes. But ...
IMF, global finance leaders fret over populist backlash
Post Date: 2017-12-28 19:35:43 by BTP Holdings
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IMF, global finance leaders fret over populist backlash #Business News October 6, 2016 / 2:38 PM / a year ago by David Lawder WASHINGTON (Reuters) - World finance leaders on Thursday decried a growing populist backlash against globalization and pledged to take steps to ensure trade and economic integration benefited more people currently left behind. Bank of England Governor Mark Carney (L) and IMF Director General Christine Lagarde field questions during a panel discussion at the annual meetings of the IMF and World Bank Group in Washington, October 6, 2016. REUTERS/James Lawler Duggan Their comments at the start of the International Monetary Fund and World Bank fall meetings ...
Russia’s Rosneft Expects $40 Oil In 2018
Post Date: 2017-12-23 08:25:41 by Tatarewicz
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Russia’s largest oil producer, Rosneft, expects oil prices to average between $40 and $43 per barrel next year, and is preparing for such prices, Rosneft’s CEO Igor Sechin told TV channel Rossiya 24 in an interview broadcast on Monday. Last week, Sechin was quoted as saying that the recent rise in oil prices was due to a weak dollar, instead of efforts by OPEC to combat the global crude supply glut. Sechin’s oil price forecast is basically in line with Russia’s economic estimates from earlier this year. At the beginning of June, Russia’s Economy Minister Maxim Oreshkin said that Russia was “actually ready to live forever at oil prices $40 or below,” ...
Canadian Oil Prices Plunge To $30
Post Date: 2017-12-23 08:19:52 by Tatarewicz
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Oil Pricw... Oil from Canada’s oil sands is now selling at a $27-per-barrel discount relative to WTI, the sharpest difference in more than four years. Western Canada Select (WCS), a benchmark for oil from Alberta’s oil sands, has plunged in December, falling to just $30 per barrel at the end of this past week. WCS typically trades at a discount to WTI, reflecting the differences in quality from lighter forms of oil, as well as the extra transportation costs to move oil hundreds of miles out of Alberta. But a discount is usually something like $10 per barrel, not more than $25. A price deterioration of this magnitude has not been seen in years. (Click to enlarge) There are ...
Is U.S. Gasoline Consumption Set To Collapse?
Post Date: 2017-12-23 08:16:36 by Tatarewicz
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Oil Price... U.S. individual vehicle miles traveled (VMT) growth has been flat since June 2017, and the potential end of the VMT growth that started in early 2014 may be an indicator of slowing oil consumption, according to government data compiled by Labyrinth Consulting Services, Inc. (Click to enlarge) Gasoline is the most consumed petroleum product in the U.S. Last year, motor gasoline consumption averaged about 9.3 million bpd, or 391 million gallons per day—the largest amount recorded and equal to about 47 percent of total U.S. petroleum consumption, data by the EIA shows. Some 29 percent of all U.S. energy consumption in 2016 was for transporting people and goods from one ...
Bitcoin only good for tech nerds, privacy nuts & criminals – ING analyst
Post Date: 2017-12-22 07:53:17 by Tatarewicz
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RT.. © Bloomberg Dutch multinational bank ING says bitcoin won’t see large-scale adoption, as the cryptocurrency doesn’t have much to offer ordinary people with its basic features a significant hurdle to legalization. “What they regard as key benefits, may actually be impediments to wider adoption... Users will include tech nerds, people obsessed about their privacy, people afraid of (hyper) inflation in traditional currencies, and people wanting to circumvent central banks for ideological or criminal reasons,” Teunis Brosens, Principal Economist at ING Amsterdam said in his Economic & Financial Analysis report. Would you want to receive your salary in ...
Bitcoin heralds ‘massive change’ for commodity businesses
Post Date: 2017-12-20 01:46:47 by Tatarewicz
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TaipeiTimes Blockchain technology is offering commodity firms a faster and safer way to trace their products and manage their shipments, but there are risks involved Blockchain is upending the world’s financial markets with the rise of bitcoin, and now the digital-ledger system is poised to do the same next year for raw materials like food and energy. Companies, including BP PLC, ABN Amro Group NV and Mercuria Energy Group Ltd, last month said they would adapt blockchain to streamline physical energy transactions. In October, four banks joined a venture started by UBS Group AG and International Business Machines Corp to use the technology in a platform for the global goods trade. ...
Bulgaria Could Cause a Global Collapse of Bitcoin
Post Date: 2017-12-19 09:45:21 by Ada
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Bulgaria owns bitcoins worth more than 3 billion euros. An amount through which the country would be able to repay a large part of its debts. However, this poses risks - because it could lead to a collapse of bitcoin, say a number of media quoted by Deutsche Welle. In recent weeks, a number of foreign media have glanced at Bulgaria. The reason: the poorest country in the EU has suddenly been the owner of a valuable treasure - over 210,000 bitcoins confiscated within a special operation in May this year. At the time of confiscation, the cost of those bitcoins was about 400 million euros. But over the course of the crypto-hit, the over 210,000 bitcoins turned into 3.3 billion euros - an ...
Bitcoin soars above historic $20,000 mark
Post Date: 2017-12-18 02:28:43 by Tatarewicz
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RT... The value of bitcoin has shot up to 20,000 US dollars, double the milestone 10k mark it hit in late November. The cryptocurrency has surged in value once again, having doubled its value over the past three weeks and reached over twenty times its worth a year ago. This is despite a number of crashes along the way, from which it has bounced back dramatically. Bitcoin’s seemingly unstoppable growth has excited investors, all the while some financial experts have continued to warn of a bubble that will inevitably burst. #Bitcoin hits new record brushing aside worries of potential bubble t.co/eDR8DZf9UDpic.twitter.com/BpDsMHfUzO — RT (@RT_com) December 16, 2017 A recent survey ...
Bubble Finance And The Era of No-See-Um Recessions
Post Date: 2017-12-15 09:09:56 by Ada
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Today’s single most dangerous Wall Street meme is that there is no risk of a stock market crash because there is no recession in sight. But that proposition is dead wrong because it’s a relic of your grandfather’s economy. That is, a reasonably functioning capitalist order in which the stock market priced-out company earnings and the underlying macroeconomic substrate from which they arose. Back then, Economy drove Finance: You therefore needed a main street contraction to trigger tumbling profits, which, in turn, caused Wall Street to mark-down the NPV (net present value) of future company earnings streams and the stock prices which embodied them. No longer. After three ...
I Was Wrong About Bitcoin. Here’s Why.
Post Date: 2017-12-15 07:27:30 by Tatarewicz
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NYT... Several years ago, tech enthusiasts in San Francisco began buzzing about a new and mysterious thing called Bitcoin. There were rumors that the virtual money, invented by a pseudonymous math genius named Satoshi Nakamoto, would revolutionize modern finance and render government-backed currency obsolete. Or maybe it was just a passing fad. I wanted to understand the phenomenon for myself. So in 2013, I bought a single Bitcoin, a clunky and labor-intensive process that involved going to a CVS and using MoneyGram to wire the dollar value of a Bitcoin — which was around $140 at the time — to a cryptocurrency exchange. I sold my Bitcoin a week later for a small loss, thoroughly ...
China about to knock out petrodollar by trading oil in yuan
Post Date: 2017-12-15 02:56:16 by Tatarewicz
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RT... As one of the world’s top energy importers, China has successfully completed its fifth dry run in yuan-backed oil futures contract trading. The step has been already called Beijing’s challenge to the US dollar. Read more © Paul Yeung China's launch of 'petro-yuan' in two months sounds death knell for dollar's dominance According to Bloomberg, which cited a statement from the exchange, 149 members of Shanghai International Energy Exchange traded 647,930 lots in the rehearsal with a total value of 268.2 billion yuan. The system met the listing requirements of crude futures after the exercise, it added. “This contract has the potential to greatly ...
The Pros and Cons of Credit vs. Debit Cards
Post Date: 2017-12-14 09:38:49 by Tatarewicz
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Nearly 70% of millennials prefer debit to credit cards, according to a 2015 report from Chime, and Transunion reports they have fewer bank-issued and private label cards than older generations. It’s understandable that they might be wary—credit card debt is a serious problem in the U.S., and it’s hard to dig yourself out of once you fall into it. The credit industry is incredibly opaque and predatory. But a credit card is also an important tool that, when used responsibly, can help better your financial situation over the course of your life. Here are some things to keep in mind about the differences between debit and credit cards. Article preview thumbnail How Much Money ...
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