Economy | Corax

Economy

Economy

Crowdfunding website Kickstarter helped funding 10,000 games since 2009, millions of backers pledged USD 5.3 billions in over 100,000 projects 

Swedish company offering investment on Iranian stock exchange, financed entirely by bitcoin as no Swedish bank would let it open account due to US sanctions against Iran 

Goldman Sachs confirms hundreds of jobs to be moved from London to EU due to Brexit 

Growing Chinese middle class behind increase in lobster imports from US, trade almost nonexistent before 2010 

Danish government free from foreign debt for first time in 183 years after USD 1.5 billion repayment, has one of Europe's lowest debt levels 

Chinese tariffs and restrictions on foreign ownership in auto industry expected to be topics of discussion as Donald Trump meets Xi Jinping in April 

Deutsche Bank to raise EUR 8 billion in stock issue priced at 35% discount to closing Friday 

Saudi Arabia's king Salman bin Abdulaziz visits Beijing, China interested in Saudi Aramco IPO and listing in Hong Kong 

People's Bank of China follows Federal Reserve rate hikes by increasing borrowing costs, wants to target capital flows using rate policy 

Bank of Japan leaves rates unchanged and continues QE program at USD 700 billions annually, spread between Japanese and US 10 year government bond yields widen 

Federal Reserve increases rates, targe between 0.75 and 1%, 2% price inflation no longer "ceiling", plan on raising rates further during 2017 and 2018 

Intel bids USD 15 billion for Mobileye in push for autonomous cars 

Soundcloud enables disc jockeys to earn money from uploaded remixes 

Toshiba postpones financial reporting one more month, considers applying for Chapter 11 bankruptcy protection in US for nuclear subsidiary Westinghouse Electric 

Puerto Rico bond holders want to push budget reform plan deadline, want a bigger say in reforms, risk losing money lent 

Iceland repeals capital controls for citizens, corporations and pension funds from Tuesday, has been in place since 2008 when banks collapsed in financial crisis 

Manhattan rents fall, inventory up 12% compared to February last year, median monthly rent at USD 3,350 

ECB leaves rates unchanged, continues to inflate money supply by buying bonds but lowers amount from EUR 80 to 60 billion per month, stimulus to continue until CPI stabilises around target at 2% 

Retail bubble has burst according to Urban Outfitters CEO, oversaturated retail space in US six times higher per capita than in Europe and Japan, border tax would be devastating according to analyst 

New jobs 100,000 more than expected during first month of Trump presidency, in total 298,000 added, unemployment down to 4.7%  

Switzerland world's top currency manipulator according to The Economist, national bank has bought USD 685 billion worth of foreign currency to lower value of Swiss franc 

Snapchat sinks after IPO, down 22% since introduction day, traders pay 15 to 40 percent interest to be first in line to short stock 

Maersk Line and IBM use block chain to trace shipments and transactions 

Chocolate prices expected to fall as cocoa production increases in West Africa 

Alasdair MacLeod: Gold alternative for central banks in Eurasia as demand for USD and EUR declines for geostrategic or economic reasons, G20 failed post financial crisis 

Paris hikes tax on vacant homes, overheated market leads to more than 100,000 homes being used only as investments 

Daimler recalls one million cars after faulty fuses believed to have caused 51 fires 

Nomi Prins: Negative interest rates creates artificial financial system, world debt to GDP ratio at 300% as result of Fed policies [video] 

Gold imports in India up 82% year-over-year, strong demand driven by war on cash 

Martin Armstrong: Coming debt ceiling crisis in US planned to start after Obama left office, media will blame Trump 

Price of one bitcoin higher than that of one ounce of gold for first time, value of cryptocurrency up 185% in one year 

Nissan asks UK government to suggest domestic suppliers to enable compliance with rules of origin, will reevaluate investment strategy unless duties abolished and taxes lowered 

India still fastest growing major economy despite war on cash, 7% growth on annual basis last quarter of 2016 

David Stockman: US debt ceiling holiday ends on March 15, 2017 — Trump has inherited a mess, will not be a new Reagan 

Snap Inc might demand year-long lock-up period to decrease risk of share price collapse, considered sign of strong IPO demand 

Iran's economic recovery after end of sanctions impressive says IMF, growth at 6.6% and price inflation below 10% threatened by new sanctions 

Saudi Aramco IPO valuation estimated at USD 2 trillion, critics claim valuation should be USD 400 billion, several exchanges fight for listing 

Martin Armstrong: China's CIPS alternative to SWIFT should be viewed politically, not economically, does not want to abandon dollar 

ECB will not end quantitative easing suddenly according to Jens Weidmann who is very critical of program as debt levels in Europe are still high 

Millennials well-adjusted to modern world where focusing on niche preferences is rewarding, striving to rise in social hierarchies less fulfilling 

Trump's choice for chairing Council of Economic Advisers is proponent of free trade and government employment as stimulus, open to carbon tax as alternative to cap-and-trade 

Dynamism and creative power of US markets guarantee long-term trend of strong growth, Berkshire Hathaway up 19% per year on average for 52 years, has outperformed S&P 500 every year, says Warren Buffet in annual letter to shareholders 

Danish smart phone company ID2me goes bankrupt after only one year, intended to challenge Apple and Samsung 

Burger King owner company buys Popeyes, acquisition includes 2,600 restaurants of which 97% run on franchise basis, price USD 1.8 billion 

Alan Greenspan says gold standard should have remained, policies were actual problem, says own decisions as Fed chief would not have been different 

Increasing share of children born out of wedlock partially explained by men's declining value on marriage market as opportunities for employment in manufacturing decrease 

US pharmaceutical companies worry over Trump's deregulation agenda, claims to be unable to sell products without government control process 

Kyrgyzstan central bank wants all citizens to own 100 grams of gold, bank facilitates purchases and sales of bars between 1-100 grams 

Snap Inc, the company behind Snapchat, set IPO valuation to USD 19.5-22.2 billion, despite user growth slowing 50% last quarter of 2016 

Market concentration growing problem while antitrust fines increase, regulations part of cause as well as technological shifts and network effects making more markets trend toward winner-takes-all 

Putin and Russian central bank in intimate cooperation to clean up corruption in banking system, estimated to require 3-5 years of takeovers, receiverships and closedowns, banks accused of hiding bad debt 

Apple market cap once more over USD 700 billion after strong January report and expectations for new Iphone 

Malta's economy forecast to grow above EU average, unemployment at record lows but shortage of skilled workers problematic, EU commission thinks open trade weakens country while state owned development bank strengthens 

Tenants in expensive cities oppose new housing despite theoretically being beneficiaries of increased supply 

Vincent Geloso: Growth in post-war period overestimated due to erroneous assumption that homemakers do not produce anything, value must be subtracted from GDP growth associated with transition to wage labor for married women 

Federal Reserve holding USD 1.75 trillion US mortgage bonds expected to start selling these in 2018, sparks worries of higher interest rates and pressure on the US mortgage holders 

WeChat expands payment between users to include gifts in gold based on prior currency based success when 300 million chat users signed up 

Book store chain Waterstones posts profit for first time in several years after comprehensive new strategy with focus on independence for individual stores and from large publishing houses 

European insurance federation Insurance Europe says new directive Solvency II sets too high capital requirements which can harm customers, insurance industry and entire economy 

Deutsche Bank places ad in several newspapers to apologize for misconduct one week after announcing EUR 1.4 billion annual loss, 7,000 lawsuits still ongoing 

Spotify on brink of bankruptcy after two cancelled IPOs, unpaid obligations converting into pricing discounts and 1.5 billion USD in debt making the company too expensive to acquire even for the largest potential buyers 

Sharp posts quarterly profit for first time in two years, new management has focused on cost savings and faster decision making 

Bitcoin faces crisis which requires political rather than technical solution, stakeholders will follow own interests rather than technical arguments, says Rick Falkvinge in interview with Cointelegraph 

Cinemas in US invest in serving alcohol to keep movie goers coming back, 32 states have lightened regulations in last two years but not New York due to heavy Broadway lobbying 

Increased ethnic diversity in California city councils leads to lower public spending and fewer votes for incumbents, points to disagreement leading to lower spending according to research published in American Economic Journal: Economic Policy 

Medicinal cannabis unicorn Canopy Growth Corp. changes ticker symbol on Toronto Stock Exchange to WEED, stock price has tripled in last 12 months 

Tesla Motors changes name to Tesla Inc as part of transformation to energy company in addition to producing cars 

War on cash example of classic baptists-and-bootleggers thesis, restrictions supported by defenders of nominal purpose to fight crime as well as profiteers of actual negative consequences, namely governments expecting larger tax revenue from digital money streams – difference from prohibition era in 1920s is both sides working openly and in collaboration 

Silicon Valley entrepreneurs not investing in art unlike previous generations of San Francisco elites, less materialistic and often do not own their homes, much less expensive interior decorations 

Russia's economic problems worse on a regional level, may result in increased tensions and fuel nationalist breakup of the country 

On date of payment, Apple does not pay Irish tax imposed by EU Commission, EU Commissioner shows understanding as total is 13.9 billion USD, Irish government has previously criticized European intervention 

Gold price up as market surprised a president actually does what he said he would do during campaign, according to market analyst at Oanda Corp in Singapore 

24 year old entrepreneur makes USD 345 000 in 2 months by beating crowdfunded project to market with stress cube 

Warren Buffett has purchased USD 12 billion worth of stock since election, sold stock worth USD 20 billion during 2016, according to interview with Charlie Rose 

Iran to ditch USD as currency of choice in reports for other currencies as sanctions have minimised trade with USA, greater value found in alternatives according to official report 

Venugopal Reddy, former central banker in India: Gold is the ultimate currency, part of Indian culture and acts as insurance for women, time for a new comprehensive gold policy 

Real estate prices fall in India after demonetization, cash shortages impede transactions but are good for middle class according to study 

Bitcoin wallet company Xapo gets approval to operate in Switzerland without banking license, joins self-regulatory organization 

Stock price up for Israeli security company Magal as hope grows to help build Mexico wall, has previously built walls between Israel and West Bank 

John Cochrane: Corporate taxation should be abolished since it is payed for entirely by consumers through higher prices and workers through lower wages 

Amazon enters ocean freight industry to improve control over their logistics, already owns trucks and planes 

EU to impose new import tax on Chinese steel, states intention to counter price dumping 

90 billion USD in commercial real estate debt to mature in 2017, analysts predict 13% default rate, worst off are suburban malls while high profile skyscrapers have regained since financial crisis 

Bank insiders sell 100 million USD worth of stock and 350 million worth of options in wake of Trump victory 

Toshiba crisis intensifies, losses in US nuclear power division 1.7 billion USD higher than expected, board expected to announce plan for breaking up company and sell assets 

Portugal's abundant lithium attracts Australian mining company planning to invest in local production of compounds for battery factories in Europe, high demand from car industry predicted 

Deutsche Bank's involvement in Banca Monte dei Paschi di Siena case lined with alleged suicides and accounting fraud, hid losses and transactions off-balance-sheet through corporate and derivative approach 

Central banks sell USD 405 billion of US treasuries, China's selling at its highest since 2011 while holdings at its lowest since early 2010, excess supply might force Yellen to reverse course if demand ebbs 

Strong decline in Indian diamond industry after war on cash, December imports down 4.7%, affects global market as up to 90% of uncut diamonds processed in country 

Jim Rickards: Desperate Fed might be forced to use 1934 "nuclear option" devaluing USD against gold, would increase commodity prices causing price inflation they thus far have failed to create 

Chinese exports decline by 7,7% during 2016, biggest annual drop since 2009, unchanged exports to US 

George Soros lost USD 1 billion on Trump's election victory, bet on a decline in the stock market 

Sanctions against Russia have cost EU EUR 17.6 billion and 400,000 jobs according to Austrian Institute of Economic Research (German)

Uranium prices near 12-year low after 41% decline last year, strong demand from China and India expected while Japan uses stockpiles 

Former CEO of collapsed MF Global Jon Corzine to pay USD 5 million in fines, no criminal charges despite USD 1.2 billion of client money used for speculations gone wrong in 2011 

First Majestic Silver may join class action lawsuit against silver price manipulating banks, CEO Keith Neumeyer in talks with legal team and other miners 

Venezuela issues USD 5 billion in bonds at 10 bolívar/USD while market values 1 USD at 3200 bolívars, bonds maturing in 2038 valued at 43% of face value 

Maersk Oil shut down production at Denmark's largest gas field Tyra which accounts for 90% of the country's gas production, finds no economic viable solution 

Spanish banks to return EUR four billion to customers for fixed minimum interest rate on variable mortgages in decision by EU Court, practice outlawed in 2013 

Credit Suisse pays USD 5,28 billion to settle US investigation into bad mortgage-backed securities, books USD 2 billion charge