Editor in Chief: Michael Collins
Editorial Team
nymole, Raja, Numerian, Lex, Actor212, Graham, steeleweed
Contributing Authors
Brian Downing, Jillian, Cliff Schecter, Nat Wilson Turner, Don Henry Ford, Jr., Jack Cluth,
Rook
Japanese stocks plunged by the most in 13 years on Thursday, as traders rushed to bank profits on worries that the US was poised to scale back its money printing programme and Chinese manufacturing data disappointed.
The Telegraph, By Szu Ping Chan, May 23
The Nikkei 225 index closed down 7.32pc – or 1,143.28 points [...]
A blogger named Chris Deville’s view of 2013 SXSW:
Ostensibly, attending Austin’s logo-infused music (and movie, and tech) industry sprawl South By Southwest is expensive. Count on inflated airfare to Austin, $200 a night for a downtown hotel room and hundreds of dollars for food and drinks — oh, and $625 for a badge, [...]
A UK-bound French tycoon has fanned the flames of the bitter row over the tax system by saying France is engaged in “trench warfare” against the rich and successful, and the current atmosphere was a throwback to the days of the French Revolution.
France24, By Ben McPartland, December 24
France’s town halls might not be [...]
BBC, December 13
European finance ministers have reached a deal on rules for supervising eurozone banks, ahead of an EU summit.
Around 200 of the biggest banks will come under the direct oversight of the European Central Bank, which will act as chief supervisor of eurozone banks.
The agreement [PDF] – a key step towards [...]
and as noted by Queensland University of Technology internet and social media researcher Jean Burgess the platform has matured: “As big events took place on Twitter, a few natural disasters, a few elections, a few uprisings, the mainstream media picks up on it as it’s something that’s actually legitimate and actually important and therefore [...]
BBC, December 11
The US said “dangerous practices” at HSBC allowed the bank to pass money to “drug kingpins and rogue nations”, as it fined it $1.9bn (£1.2bn).
HSBC agreed the fine, the largest of its kind, earlier on Tuesday.
A US Senate investigation said the UK-based bank had been a conduit for drug barons [...]
Republican governor to sign two laws expected to weaken workers’ rights over loud objections of state’s labour supporters.
The Guardian, By Adam Gabatt, December 11
Lansing, MI – About 10,000 protesters marched on the Michigan state capitol on Tuesday, in a show of force by unions fighting the spread of controversial right-to-work legislation in a [...]
AFP, December 10
British and US banking regulators proposed on Monday a joint strategy to ensure that the bankruptcy of big banks won’t spark a chain reaction of contagion throughout markets.
The two bodies, acting on behalf of the two largest financial centres in the world, stressed that under the proposals, shareholders and not taxpayers [...]
Wired, By Kim Zetter, November 30
In a case watched closely by banks and their commercial customers, a financial institution in Maine has agreed to reimburse a construction company $345,000 that was lost to hackers after a court ruled that the bank’s security practices were “commercially unreasonable.”
People’s United Bank has agreed to pay Patco [...]
New York City’s East Village is the kind of place where you might not be surprised to find a vegan ice cream shop. And until today there was one — Stogo’s on Second Avenue.
This New York Times article by Maggie Astor (who just happens to be my daughter) tells us why today was the [...]
Workers demand a higher minimum wage and an end to outsourcing as unrest in southeast Asia’s largest economy amplifies.
Al Jazeera, November 20
Tens of thousands of workers have gathered outside the presidential palace in Jakarta in Indonesia, demanding higher wages, better working conditions and that more economic growth trickle down to the working class.
[...]
Enformable, November 21
Indian Prime Minister Manmohan Singh told Prime Minister Noda that he hoped Japan would soon share its nuclear technology and expertise with India.
“PM Noda replied by saying that Japan wished to advance consultations in a constructive and cooperative manner,” Japan’s foreign ministry spokesman Masaru Sato told TOI. He added though that [...]
Five big U.S. banks cut principal, allow short sales as part of bail-out settlement
The Tennessean, By Alex Veiga (AP) & Walker Moskop, November 20
Less than a year after a landmark foreclosure abuse settlement, five of the nation’s biggest banks have cut struggling homeowner’s mortgages by $6.3 billion, part of a total $26.1 billion [...]
International Business Times, BY Moran Zhang, November 19
It’s hard to regulate what you can’t see and that’s why the so-called “shadow banking” – a whole range of activities that replicate some of the activities of regulated banks but fall outside of traditional oversight – has grown to a new high globally last year, a [...]
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