The European Union is set to move ahead with plans for a financial transaction tax despite British opposition, with a senior French politician saying the new levy will be in place by the end of year.
(Reuters) - MF Global unloaded hundreds of millions of dollars' worth of securities to Goldman Sachs in the days leading up to its collapse, according to two former MF Global employees with direct knowledge of the transactions.
LONDON—The European Central Bank again stepped into government bond markets to buy debt issued by the Italian and Spanish governments, whose borrowing costs spiralled higher Friday on concerns over the euro-zone financial system.
China, 2012, and Von Mises's Crack-Up Boom - Get a Free Ron Paul T-Shirt
Asian stock markets faltered Friday amid worries over the health of Europe's banks and fears that the continent's debt crisis might be spreading beyond a handful of small economies. Japan's Nikkei 225 Index fell 1 percent to 8,401.32. Hong Kong's
A deep-pocketed restaurateur shelled out nearly three-quarters of a million dollars for a single tuna, the most ever paid for the fish, at Japan’s Tsukiji fish market on Thursday.
Economic fragility is everywhere, even in fairly robust and growing economies. Some of the new engines of economic and financial growth — Brazil, India, and the People’s Republic of China
Shortly before Christmas I did a video discussion of 2011 with Max Keiser with a look-ahead to a few ideas for 2012.
There will be no real help from China, India or over-stretched Brazil. The second wave will hit with youth unemployment already at 45pc in Greece and 49pc in Spain; and with the US labour participation rate already at depression levels of 64pc.
Governments of the world’s leading economies have more than $7.6 trillion of debt maturing this year, with most facing a rise in borrowing costs. Led by Japan’s $3 trillion and the U.S.’s $2.8 trillion, the amount coming due for the Group of Seven na
Class war across Europe rages
Almost $6.3 trillion was erased from global stock markets this year as the euro zone financial crisis reverberated across the world in the latter half of 2011, calling into question the future of the world’s largest currency bloc.
What should investors watch in 2012? As the new year dawns, there are plenty of short-term issues on the horizon, ranging from the eurozone to fiscal gridlock in the US to upheavals in the Middle East.
There will be early detection of cancer, immune system boosting against cancer and other diseases (new vaccines and other treatments.) There will be progress against air pollution and prevention of the 37 million early deaths in the developing world
Great Britain has recently been hit by a wave of metal thieves who appear to spare nothing in their path. Manhole covers, lead from church roofs, electric cables, even memorial statues and plaques with the names of war dead are vanishing
Since at least 2005, China has been taking the exact steps required to counter the brunt of a global debt collapse; not enough to make it untouchable, but enough that its infrastructure will survive.
Britain will not reduce the London Games to an “austerity Olympics”, but instead try to use the event to kick-start the flagging economy in 2012, the minister responsible said Saturday.
I would note that we have layers of technology (civilizations technology and solution stacks) that exist from different times which make up the stack of technology that we use today. This can be thought of the way archeologists will dig through layer
Hard times to get harder ahead
While the surge in the ECB's balance sheet has been discussed to death on these pages, with a particular emphasis on what we believe the key correlation driver-cum-pissing contest of 2012 will be - namely the relative size of the ECB vs Fed balance s
Now it is the turn of a former Dallas Fed Vice President, Gerald ODriscoll, to outright accuse the Fed of bailing out Europe courtesy of "incomprehensible" currency swaps, and implicitly accusing Bernanke of lying that he would not bail out Europe ev
Think "all is fine" in Europe after today's largely irrelevant Italian bill auction (the auction was for 6 month debt - even Greece can raise that kind of money)? Think again. Here is the Fermentation Committee Chairman explaining why Europe is so ha
Here's another indication that the price inflation in China is much greater than the official reports of around 4.0%.
Iran on Tuesday threatened to close the Strait of Hormuz, a chokepoint for a third of the world’s seaborne oil trade, if the west imposes oil sanctions on Tehran, causing a rise in oil prices.
The economic, political and social outlook for 2012 is profoundly negative. The almost universal consensus, even among mainstream orthodox economists is pessimistic regarding the world economy.
So while the US and Europe bicker over just who it is that will first end up bailing out one then the other, those who are supposedly doing the bailing, have decided to gradually move away from the interminable financial sink hole that is the develop
From Somalia's "pirate stock exchange" to the flourishing illegal organ trade in Egypt, there are some making money hand-over-fist, under the table.
IMF chief Christine Lagarde on Thursday urged member countries to quickly sign off on an agreement last year to double IMF resources and give under-represented nations, such as China, greater voting power in the global lender. The changes to membe
(Reuters) - IMF chief Christine Lagarde on Thursday urged member countries to quickly sign off on an agreement last year to double IMF resources and give under-represented nations, such as China, greater voting power in the global lender.