Friday, April 26, 2019

Exposed: Sweatshop slaves earning just 44p an hour making empowering Beyonce clobber

BEYONCE'S new high street sportswear range for Topshop is made using sweat shop labour earning just £4.30 a day, we can reveal. The revelation heaps more pressure on under-fire fashion tycoon Sir Philip Green, who faces a grilling from MPs about his role in the collapse of BHS. The chain’s demise...

A Longtime Gold Bear Capitulates as Global Economy Turns Gloomy

For years, ABN AMRO Group NV’s Georgette Boele has been a staunch bear on gold as prices tumbled. Now with gold on the brink of a bull market, she’s changed her tune. Boele changed her year-end forecast to $1,300 an ounce from $900, according to report released Tuesday. That implies...

Israeli made president Brazil’s Central Bank

As the suspension of Brazilian President Dilma Rousseff and corruption allegations loom in the background, a new appointment was announced: Ilan Goldfein, who was chief economist to Brazil’s largest private bank, will become president of the country’s largest bank. Haifa-born Ilan Goldfein was appointed on Thursday to be the president...

The Deutsche Bank crisis could take Angela Merkel down – and the Euro

There are some words that make such an unlikely pairing that we find it hard to put them together. Italy and efficiency, for example. Or Bake Off and Channel 4. And 'Germany' and 'banking crisis' is another one. Our image of German banks, and the German economy, as completely rock...

Fraud and folly: The untold story of General Electric’s subprime debacle

Ex-employees say GE ignored warnings from whistleblowers. For General Electric Co., hawking subprime mortgages was a long way from making light bulbs and jet engines. That didn't stop the industrial giant from jumping into the subprime business in 2004, lending blue-chip respectability to the market for risky home loans by paying...

ECB can only buy time, not solve eurozone growth woes

Mario Draghi’s efforts will count for little without structural reforms and more aggressive use of fiscal policy by European governments. For most of its short life, the European Central Bank fretted about inflation being too high. Now it has the opposite concern. The fear of deflation explains the package of measures...

Services Trade in Focus as TISA, TTIP, RCEP Aim for 2016 Conclusion

Services trade governance could see some significant developments in the coming year, as various major trade initiatives confirmed separately last month that they hope to reach conclusion in 2016. In recent weeks, negotiators for three major pacts – the Trade in Services Agreement (TISA), the Transatlantic Trade and Investment Partnership...

The One Trillion Dollar Consumer Auto Loan Bubble Is Beginning To Burst

Do you remember the subprime mortgage meltdown from the last financial crisis? Well, this time around we are facing a subprime auto loan meltdown. In recent years, auto lenders have become more and more aggressive, and they have been increasingly willing to lend money to people that should not be...

Used Car Price Plunge “Could Bring The Whole House Of Cards Down”

When we first warned that something was breaking in the American auto market, the Phil-LeBeau-ians crawled out of the woodwork to explain how everything is still awesome (brushing the weakness in stocks) despite soaring inventories and shrinking credit. Then when used-car prices began to leak lower, a few paid...

Venezuela Is About to Go Bust

Venezuela’s economy is facing a tsunami of bad news. The country is suffering from the world’s deepest recession, highest inflation rate, and highest credit risk — all problems aggravated by plunging oil prices. Despite all its troubles, though, until now Venezuela has kept making payments on its $100-billion-plus foreign...

The central bank that cried wolf: The Fed’s credibility gap is getting wider

If Fed policy was a fairy tale, the title might be "The Central Bank That Cried Wolf." Investors have watched in bemusement as Fed officials throughout the past several years have warned that policy would change, only to back down at the slightest sign of turbulence. It now appears the...

Fed, again, left with egg on its face as recovery falters

All that hawkish Fed talk in recent weeks, as well as the market's knee-jerk reaction, seemed kind of silly after Friday's dismal jobs report. Expectations for a summer rate hike fell into a sinkhole Friday after the Labor Department reported that nonfarm payrolls grew by just 38,000 in May, amounting...

Next Financial Crisis Could Overwhelm World’s Defenses, IMF Says

The global financial safety net has become increasingly fragmented, making it harder to respond to crises in a world roiled by volatile capital flows, International Monetary Fund staffers warned. Defenses haven’t kept up with the growth of external debt in recent years, the Washington-based fund said in a report released...

U.S., EU: Full Speed Ahead with Transatlantic Trade Deal, Despite Brexit

The White House rules out moving a bilateral trade deal with Britain to the front of the line. Top U.S. and European officials vowed to press ahead with a massive transatlantic free trade deal on Monday despite Britain’s historic vote last week to exit the European Union. In making the...

Fears grow of repeat of 2008 financial crash as investors run for cover

Fears that the global economy could be heading for a repeat of the 2008 financial crash have sent shockwaves through financial markets – prompting a rush to safe havens by investors. Oil prices fell to a fresh 12-year low on Wednesday and metal prices tumbled in response to warnings that...

Pound sterling could slide below $1.20 because of Brexit, Goldman Sachs warns

Analysts have said the pound still has further to slide. The pound fell as low as $1.28 against the dollar in overnight trading after warnings about the financial stability of the UK after Brexit spooked investors. Sterling was trading at $1.29 in mid-morning trading on Tuesday, down 0.63 per cent on...

Goldman Sachs Says It May Be Forced to Fundamentally Question How Capitalism Is Working

One of the most heated debates among investors is the question of whether corporate profit margins can maintain their elevated level, or whether they will inevitably revert to mean. Here's a quick look at S&P 500-stock index profit margins, for example, going back more than 25 years. They remain high by historical standards. A...

Eric Holder’s Longtime Excuse for Not Prosecuting Banks Just Crashed and Burned

Eric Holder has long insisted that he tried really hard when he was attorney general to make criminal cases against big banks in the wake of the 2007 financial crisis. His excuse, which he made again just last month, was that Justice Department prosecutors didn’t have enough evidence to...

Rare-Earth Market

By monopolizing the mining of rare-earth metals, China could dictate the future of high-tech. Most people have no idea what’s in an iPhone. Yttrium and praseodymium don’t exactly roll off the tongue, but they’re part of what make smartphones so small, powerful, and bright. These exotic materials are among the...

Deutsche Bank: The US May Now Be In A Recession

Three months ago, we presented an analysis which showed something disturbing: according to Deutsche, the "current business cycle is already the fourth longest in the post- WWII period, and the corporate debt-to-GDP ratio suggests that imbalances are building", and that worse, as a result of soaring corporate debt and...

Global Wealth 2016: Navigating the New Client Landscape

The growth of global private wealth hit a speed bump in 2015, especially in the developed markets, with all regions other than Japan experiencing a slowdown relative to last year. This development, combined with the ongoing decline of revenue and profit margins—all amid shifting client needs in both traditional...

The Fed Surrenders

The central bank underscores the slow-growth reality. So much for that June interest-rate increase, and maybe for July and the rest of 2016 too. The Federal Open Market Committee, which had been insisting for months that the economy is healthy enough to take rising rates, capitulated on Wednesday and signaled...

Hedge Funds Get Stung by Slow Markets

Louis Bacon and Paul Tudor Jones Are Among Prominent Investors Losing Money on Bad Bets. Some of the biggest investors on Wall Street are losing money with wrong-way bets in markets around the globe, a surprising black eye amid a rise in stock and bond prices. Hedge-fund managers including Paul Tudor...

Fed keeps interest rates unchanged, signals fewer future hikes

The U.S. Federal Reserve kept interest rates unchanged on Wednesday and signaled it still planned to raise rates twice in 2016, though it said slower economic growth would crimp the pace of monetary policy tightening in future years. The central bank's decision to stick with its 2016 rate path, however,...

Nothing Is Moving, Baltic Dry Crashes As Insiders Warn Commerce Has Come To A...

The continued collapse of The Baltic Dry Index remains ignored by most - besides we still have Netflix, right? But, as Dollar Vigilante's Jeff Berwick details, it appears the worldwide 'real' economy has ground to a halt!! Last week, I received news from a contact who is friends with one...

Get ready for the mother of all stock market corrections once central banks cease...

Global stock and bond markets have been all over the place of late. Rarely have investors been so lacking in conviction. Confusion as to future direction reigns, and with good reason after the spectacular returns of recent years. For how much longer can stock markets keep delivering? Is there another...

Euro house of cards to collapse, warns ECB prophet

The European Central Bank is becoming dangerously over-extended and the whole euro project is unworkable in its current form, the founding architect of the monetary union has warned. "One day, the house of cards will collapse,” said Professor Otmar Issing, the ECB's first chief economist and a towering figure in...

US Fed raises interest rates by 0.25%

US Federal Reserve has raised interest rates by 0.25 percentage points, its first increase since 2006. The move takes the range of rates banks offer to lend to each other overnight - the Federal Funds rate - to between 0.25% and 0.5%. The US central bank also raised its projection for...

Posting New Secret Trade Docs, Wikileaks Further Exposes Corporate Plot

Despite its importance both the US Presidential candidates Hillary Clinton and Donald Trump have thus far given no position on the TISA Agreement. Even as it continued to post new batches of emails from Clinton campaign chairman John Podesta, Wikileaks on Friday also published new draft chapters of the Trade...

Møller-Maersk Says Freight Rates to Fall

Danish Shipping and Oil Giant Says Cost Cuts Boost Container Business. Danish shipping and oil conglomerate A.P. Møller-Maersk A/S said Thursday that stringent cost cuts and increased volumes helped boost its container business in the fourth quarter. But the world's biggest container-shipping company warned of unstable freight rates going forward as...

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