Home » Archive

Articles in the Money Matters Category

Money Matters »

[7 Feb 2017 | No Comment | ]

Warren Buffett started reading books about investing when he was just 7 or 8 years old. His father owned a small investment shop, and young Buffett often picked up the books lying around the office.
By the time he was 11, Buffett was going to the local public library in Omaha and reading every book he could find on the topic.
One book in particular stood out. The billionaire now says ” The Intelligent Investor ” changed his life. The investing manual was written by former Columbia Business School professor Benjamin Graham …

Money Matters »

[19 Jan 2017 | No Comment | ]

Income inequality is so now lopsided that eight men now own the same amount of wealth as the poorest half of the world.
A top corporate CEO earns as much in a year as 10,000 garment factory workers in Bangladesh.
And the world’s 10 biggest corporations together have revenue greater than the 180 poorest countries combined.
These findings by Oxfam, from a report titled An economy for the 99 per cent, was released as the globe’s leaders and the business elite travelled to Davos, Switzerland, for this week’s annual meeting of the World …

Money Matters »

[10 Jan 2017 | No Comment | ]

China’s foreign exchange reserves fell by $320 billion last year, Beijing announced Saturday, as authorities sought to support the yuan against a soaring dollar which is encouraging capital outflows.
The country’s vast foreign exchange reserves, the largest in the world, slipped to $3.011 trillion at the end of December, the State Administration of Foreign Exchange (SAFE) said on its website.
In December the forex reserves dropped by $41 billion from the previous month, SAFE said, which would make it their sixth consecutive monthly decline according to figures from the central People’s …

Money Matters »

[8 Jan 2017 | No Comment | ]

Bitcoin neared record highs Thursday with the surging digital currency tipped to become a new safe haven asset as the world grapples with growing economic uncertainty. 
The unit broke the $1,100 barrier on the Bitcoin Price Index, an average of major exchanges, to continue a dizzying rise that made it the best performing currency of 2016.
It has fluctuated wildly since it was created in 2009 and lost three quarters of its value when it plummeted from its previous BPI high of $1,165.89 in 2013.
And news of a major bitcoin theft …

Money Matters »

[23 Dec 2016 | No Comment | ]

Winter bonuses at Japanese companies employing more than 500 people averaged 880,736 yen, up 0.02% from the previous year and rising for the fourth straight year, the country’s major business lobby said Wednesday.
Winter bonuses at Japanese manufacturers averaged 900,490 yen, up 0.47% and topping the 900,000 yen line for the first time since the survey started in 1997, according to a tally of the Japan Business Federation, also known as Keidanren.
A Keidanren official mainly attributed the rise to an increase in the revenue of manufacturers. Winter bonuses at major companies …

Money Matters »

[20 Dec 2016 | No Comment | ]

President-elect Donald Trump’s ambitious plans to revive exports, return jobs to the United States and increase oil drilling are running up against a home-grown threat:
The surging U.S. dollar.
Since the Nov. 8 election, the dollar has shot up 5 percent. An index that tracks the dollar against other major currencies reached a 14-year high after the election before dipping a bit since then.
In part, the dollar’s gain reflects the U.S. economy’s strength and investor confidence that Trump will accelerate growth by slashing taxes and pumping money into roads, bridges and other …

Money Matters »

[17 Dec 2016 | No Comment | ]

Japan surpassed China in October as the largest foreign owner of U.S. Treasury securities, the first time the countries have swapped places in nearly two years. Total foreign holdings fell for a fourth month.
The Treasury Department says that total foreign holdings dropped 1.9 percent to $6.04 trillion in October. Foreign holdings of Treasury debt are down 3.9 percent from a recent peak of $6.28 billion set in March.
Both Japan and China cut their portfolios in October. But China’s reduction was a larger 3.6 percent to $1.12 trillion. Japan trimmed its …

Money Matters »

[11 Dec 2016 | No Comment | ]

China has indicated it could relax restrictions on foreign investment in some sectors as it struggles to counter an overseas exodus of capital, while facing accusations of protectionism from U.S. President-elect Donald Trump.
A record-setting wave of Chinese investment abroad has fuelled concern in Beijing over capital flight, reckless spending overseas, and the yuan’s fall against the US dollar.
A notice from China’s economic planning agency late Wednesday said foreign investment restrictions could be eased in sectors such as automotive electronics; rail transport equipment; some mining, agricultural and chemical production; theme …

Money Matters »

[7 Dec 2016 | No Comment | ]

Japanese telecoms and internet firm SoftBank Group Corp plans to invest $50 billion in the United States in businesses and create 50,000 new jobs, U.S. President-elect Donald Trump said on Tuesday.
The money would come from a $100 billion investment fund that SoftBank Chief Executive Masayoshi Son is setting up with Saudi Arabia’s sovereign-wealth fund and other potential partners, according to the Wall Street Journal.
Trump made the announcement in the lobby of Trump Tower in Manhattan where he met with the head of SoftBank, a diverse company that holds stakes in …

Money Matters »

[6 Dec 2016 | No Comment | ]

OPEC has agreed to cut its oil production for the first time in eight years in an effort to boost crude prices.
The cartel will cut 1.2 million barrels a day from its present output after its 14 members put aside differences at a meeting Wednesday to agree on individual production levels.
The move, which will leave OPEC output at 32. 5 million barrels a day, is to take effect in January, said OPEC President Mohammed Bin Saleh Al-Sada.
Al-Sada said major non-OPEC producers were ready to act in concert with OPEC and …