Swiss banking giant UBS intends to cut nearly 10,000 jobs worldwide in a restructuring of its hard-hit investment bank, the group said on Tuesday reporting that reorganisation costs had pushed it deep into loss in the third quarter.
People’s Bank of China injects record amount of liquidity today through open market operation.
I believe the global economy stands on the brink of meltdown.
The Daily Bell is pleased to present another exclusive interview with Ron Holland
This talk was delivered at the 30th Anniversary Supporters Summit of the Ludwig von Mises Institute, Callaway Gardens, Georgia, on October 26, 2012.
London police are looking to sell off their Scotland Yard headquarters as part of a series of budget cuts as Britain struggles to shrink its huge deficit, a senior officer revealed Tuesday.
Europe's Crisis Spawns Calls for a Breakup --of Spain
The Athens Stock Exchange General Index is down 6.3 percent today.
European stock markets are in the red across the board heading into the close.
Europe is on the ropes as investors shun peripheral euro-area government debt. In the United States, interest rates are fixed at zero, and government bonds are arguably already quite far along in an epic 30-years-and-running bull market.
Here is an excellent interview at The Economist Buttonwood Conference featuring Hugh Hendry.
The 12 wealthiest nations and city states according to most sources are Luxembourg, Hong Kong, Norway, Switzerland, Australia, Denmark, Sweden, the Netherlands, Austria, the USA, Canada, and Singapore. (Excluded are the tiny monarchies of Monaco and
Britain has left the European Union in all but name ... To all intents and purposes, the UK is already out.
'End of recession' greeted with joy in defiant Notts ... The end of Britain's longest double-dip recession since the 1950s has been welcomed by leading figures in Notts.
This isn't as random as it seems; more than half of Germany's gold reserves are held at the New York Fed, and hasn't been inspected by the Germans for decades. This dates back to the '50s and '60s, when foreign governments could still exchange dollar
For more than a decade, China’s currency, the Renminbi (RMB), had been on a path of appreciation, but some weakness this year generated renewed talk about whether the currency is fairly valued against global currencies.
Economic and market phenomena occur in cycles.
Goldman Sachs chief European economist Huw Pill was setting monetary policy at the European Central Bank as recently as last summer, which gives him a unique perspective on the crisis.
The FlashPMI report for Europe -- an index based on a survey of manufacturing and service companies -- looks awful.
"The Greater Depression" - What to expect and how you can prepare yourself.
'Bailouts' are a means for total subjugation to EU control - Nigel Farage
25 years ago, on another Monday in late October, the financial world seemed to disintegrate in a heartbeat.
What if there was a financial system that would eliminate the need for the federal government to go into debt, that would eliminate the need for the Federal Reserve, that would end the practice of fractional reserve banking and that would dethrone th
European markets were heavy in the red again today.
The International Monetary Fund recently released its World Economic Outlook — and it's not pretty.
They may yield nothing (technically 0.295% nominal yield), and they may be still sold by the Fed, but today's 2 Year bond auction had a blistering metric that showed that something is very much unwell with the market.
No matter what you are told by the mainstream media, peripheral government bonds have seen the worst 2-day sell-off in over a month with Spanish 10Y spreads +27bps this week so far and 2Y breaking back above 3% yield in a hurry.
With the entire world engaged in global coordinated easing, slashing, burning, and overall lowering rates and printing money by the wheelbarrow, the Bank of Canada just fired a shot across the bow.
Over the 20th century, many retirees moved from New England, California and the Midwest to the sunny and sparsely populated Sun Belt, where low taxes and warm weather beckoned.
Management consulting firm Grant Thornton recently released a ranking of countries by how well they encourage "dynamic growth" for businesses.