Canadians cut back on spending as prices rise
Retail sales in December fell the most since 2008 in real terms while prices for goods saw a price spike in January as economists say signs are emerging that higher prices are biting into Canadian real incomes. Statistics Canada said…
Uber is Losing Billions in China, CEO Admits
The chief executive of Uber has admitted that the company is losing more than $1 billion per year in China due to local competition, Canadian tech site Betakit reported. The ride-sharing app launched in China in 2014 but faces stiff…
‘Inequality in Korea higher than in crisis economies’
Social inequality in Korea is higher than in countries that experienced systemic changes or economic crises, a researcher said. Kim Tae-wan, a fellow at the Korea Institute for Health and Social Affairs, said so in his paper titled “Analysis of…
The UK, EU and Brexit: Who wins and who loses?
The UK has been threatening to leave the European Union for some time, but with Britain preparing for a referendum on EU membership next year, a British exit from the EU, or Brexit, is becoming a real possibility. Prime Minister…
Won plunges despite intervention
South Korea’s financial authorities pledged Friday to take every measure to prevent the won from fluctuating further against the dollar and other major currencies. “The won-dollar exchange rate has been fluctuating too widely recently,” the central bank said in a…
Firefox Voices Support For Apple, Launches Advocacy Campaign For Encryption
Mozilla and Firefox Executive Director Mark Surman have come out in support of Tim Cook’s and Apple’s resistance to complying with the recent legal order to unlock an iPhone recovered during the FBI investigation surrounding the San Bernardino shooting in…
Apple’s fight with the FBI could have reverberations worldwide
It’s a battle that on its face appears to pit one of the biggest tech companies in the U.S. against the country’s most powerful law enforcement agency. But the outcome of Apple’s standoff with the federal government over encryption could…
Big banks shattered by 2008 economic crisis
Last four decades have witnessed the fastest growth of the global financial market. The finance industry all over the world has gone through rapid expansion during this period. Worldwide monetary network, connectivity, service/product diversity and investment structure have been established….
Big banks see the need to shrink – but face a path full of obstacles
Powered by Max Banner Ads Big banks see the need to shrink – but face a path full of obstacles When the U.S. Federal Reserve’s newest policymaker Neel Kashkari dropped a bombshell with a call to break up big banks…
A Babel of opinions lead markets down as Feb. options expire
WASHINGTON, February 19, 2016 – Thursday’s “wilting violet” market action has extended into Friday, where anemic and worried trading has put a negative cast on the widely followed major averages, although the NASDAQ has been trying to stay in the…