Tag: central banks
The ‘dirty dozen’ of Davos – POLITICO
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It’s that time of year again: Leaders, business titans, philanthropists and celebs descend on the Swiss ski town of Davos to discuss the fate of the world and do deals/shots with the global elite at the annual meeting of the World Economic Forum.
This year’s theme: “Rebuilding trust.” Prescient, given the dumpster fire the world seems to be turning into lately, both literally (climate change) and figuratively (where to
WTF is Christine Lagarde up to? – POLITICO
Deep in the Wyoming wilderness last month, Christine Lagarde, president of the European Central Bank, stood before a large audience of elite central bankers and casually predicted the collapse of the international financial order. Resplendent in red and black, she resembled a humanoid Lindor chocolate truffle — and though her warning was diluted by the usual impenetrable jargon, the subtext was sufficiently clear and dramatic.
“There are plausible scenarios where we could see a fundamental change in the nature of
Italy to hit banks with 40 percent windfall tax – POLITICO
Georgia Meloni is going after the banks.
In a move that surprised investors and political observers alike, Italy’s far-right government led by Prime Minister Meloni announced plans late Monday to slap a 40 percent one-off windfall tax on bank profits.
Italian lenders have been raking in huge benefits from higher interest rates on their loans at a time when ordinary people are struggling with the cost of living.
The eurozone’s cost of living crisis, which has been marked by the
After summer heat, economic chill – POLITICO
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BRUSSELS — While Europe counts the cost of wildfires and record high temperatures, governments are facing up to a decidedly frosty fall and winter.
Buffeted by rising borrowing costs and a decline in business and consumer confidence, the eurozone economy is weakening rapidly. Interest rates this week were increased to record-equaling levels, inflation is falling but remains stubbornly high, and, on Friday, there came a fresh warning from the
Is Crypto Dead? – The Atlantic
Last week, the Securities and Exchange Commission filed 13 charges against Binance, the world’s largest crypto exchange, accusing it of mishandling customer funds and a litany of other white-collar crimes. It also charged Coinbase, a public company and the biggest U.S. crypto business, with failing to register as a broker-dealer.
The government actions did not move the price of bitcoin much, nor did they crater Coinbase stock; traders and investors had been expecting the enforcement actions for months.
Where Britain went wrong – POLITICO
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LIVERPOOL, England — On the long picket line outside the gates of Liverpool’s Peel Port, rain-soaked dock workers warm themselves with cups of tea as they listen to 1980s pop.
Dozens of buses, cars and trucks honk in solidarity as they pass.
Dockers’ strikes are not new to Liverpool, nor is depravation. But this latest walk-out at Britain’s fourth-largest port is part of something much bigger, a great wave of public and private
Long-Abandoned Gold Mines Are Reopening
This piece was originally published by Undark.
On the outskirts of the Northern California town of Grass Valley, a massive concrete silo looms over the weeds and crumbling pavement. Nearby, unseen, a mine shaft drops 3,400 feet into the earth. These are the remains of Grass Valley’s Idaho-Maryland Mine, a relic from the town’s gold-mining past. Numerous mines like this one once fueled Grass Valley’s economy, and today Gold Rush artifacts are part of the town’s character: A stamp mill,