U.S. Richest now 13 Percent Richer
America's super high net worth individuals saw their net worth grow by 13 percent in the past year to $1.7 trillion, according to Forbes annual wealth survey.
Daily Dollar Forecast 09/20/2012
The Australian dollar returned to its winning ways yesterday bolstered by the actions of the Bank of Japan which saw the Central Bank add 10 trillion Yen to its 45 trillion-yen fund that buys assets including government debt. IThe Australian dollar returned to its winning ways yesterday bolstered by the actions of the Bank of Japan which saw the Central Bank add 10 trillion Yen to its 45 trillion-yen fund that buys assets including government debt. I
Swiss Banks to Lose 'Hundreds of Billions' Francs as Pressure Against Secretive Practices Mounts
Wealthy clients across Europe could withdraw "hundreds of billions of francs" from their Swiss banking accounts over the next few years.
Indonesia to Beat Germany, United Kingdom as World's Seventh Largest Economy
Indonesia could soon surpass Germany and the United Kingdom to become the world's seventh largest economy, generating $1.8 trillion in annual gross domestic product, according to a recent report by McKinsey and Co.
Daily Dollar Forecast 09/19/2012
The Australian dollar has weakened over much of the past 24 hours after minutes from the Reserve Banks most recent meeting showed officials remained concerned and cautious about both domestic conditions amid slowing grow in China and Europe.
Daily Forex Forecast 09/18/2012
Despite a report from the Reserve Bank of Australia which showed 23 National Central Banks around the globe hold the Australian Currency as a reserve, hence sustaining the value of the Aussie Dollar, the higher-yielding unit opens this morning overall weaker against its US Counterpart.
How College Degree Holders Can Survive the Recession [Infographic]
Do university graduates have an advantage during an economic downturn?
Tensions in South China Sea: Philippines Renames Disputed Area as 'West Philippine Sea'
China's Foreign Ministry has expressed outrage and disappointment at the Philippines' decision to officially request the United Nations to rename part of the South China Sea as the West Philippine Sea.
Daily Forex Forecast 09/17/2012
The Australian dollar surged to its highest level in over month last week after the US Federal Reserve announced a fresh stimulus package, designed to give the world’s largest economy a boost.
Daily Forex Forecast 09/14/2012
A long anticipated move by the US Federal Reserve has caused a significant rise in the Australian Dollar overnight, the local currency moving from levels around 1.0440 to touch highs near 1.0560 after Fed Chairman Ben Bernanke announced a third round of quantitative easing.
Iran Circumvents Western Sanctions by Hiding Oil off Malaysian Coast
Iranian oil tankers have been unloading millions of barrels of oil near a small port island just off the East Malaysian coast.
McDonald's to Include Calorie Info on Menus in the U.S. Ahead of new Regulation
U.S. fast food giant McDonald's Corp will begin posting calorie information for its entire menu at U.S. stores starting from next week.
Daily Dollar Forecast 09/13/2012
The Australian dollar has remained supported in the mid 1.04’s and daringly undertook a challenge for 1.0500 as the primary funding vehicle for the euro-zone was given the all clear to partake in the Europe’s economic recovery.
Daily Forex Forecast 09/12/2012
The Australian dollar steamed ahead of its US Counterpart overnight with investors speculating that the US Federal Reserve will announce further stimulus measures when they begin a two day meeting this evening.
Daily Dollar Forecast 09/11/2012
Hurting the credentials of the Australian dollar yesterday the number of home loans in July fell 1 percent, suggesting the housing market is moving sideways.
China Offers Subsidy to Energy-Saving Products Purchase
China's Finance Ministry will provide up to 14 billion yuan ($2.2 billion) in subsidies to buyers who purchase energy-saving products, including computers and air-conditioners, said a report by Xinhua.
Bernard Arnault, France's Richest Man, to Switch Citizenship Ahead of 75% 'Wealth Tax'
Bernard Arnault, the richest man in France and the fourth richest man in the world, has applied to be a naturalised Belgian citizen ahead of a 75 percent tax on the wealthy in France.
Daily Forex Forecast 09/10/2012
The Australian dollar pointed higher on Friday following a busy week of both local and offshore happenings.
Daily Dollar Forecast 09/07/2012
Recent pressures on the Australian dollar have been momentarily forgotten over the past 24 hours and the local unit sits 0.9% higher against the Greenback this morning.
China Development Bank Hikes Lending to Private Firms in Asia
The China Development Bank (CDB), one of the nation's three policy banks known primarily for making big loans to other state-owned entities, has begun lending large amounts of cash to private firms around Asia, reported the Wall Street Journal on Tuesday, while other banks cut back on lending amid the present economic climate.
McDonald Goes Vegetarian in India
U.S. fast food giant McDonald's will open its first ever vegetarian-only restaurant in India by the middle of next year,
Daily Forex Forecast 09/06/2012
The Australian dollar sits below 1.0200 this morning after softer than expected local GDP figures for the June quarter prompted a few holders of AUD/USD to sell.
Daily Dollar Forecast 09/05/2012
The Australian dollar initially rallied yesterday, following the decision by the RBA to leave domestic interest rates on hold at 3.5%.
China to Purchase More EU Government Bonds: Wen Jiabao
China has pledged more help for the deteriorating eurozone crisis, with Premier Wen Jiabao promising to purchase more EU government bonds.
Spanish 'Bad Bank' to Absorb its Worst Property Assets and Defaulted Loans
Spain's government has approved the creation of a so-called "bad bank" that will take over most of the nation's worst property assets and defaulted loans
Daily Dollar Forecast 09/04/2012
The Australian dollar founded itself under pressure yesterday, with a combination of drivers pushing the commodity currency down towards key technical support at 1.0220.
Daily Forex Forecast 09/03/2012
In what proved to be a rollercoaster ride for the Australian dollar on Friday the local unit gyrated between losses and gains in an overall volatile session.
Increase in Pork Price Would Push Chinese Inflation
Rising pork prices, coupled with a declining domestic supply, could trigger high inflationary rates across China over the next year.
France Offers Salary Subsidy for Business to Hire Young Workers
French businesses that hire a person aged between 16 and 25 for at least a year may only have to pay as little as 25 percent of the individual's salary starting from 2013.
Daily Forex Forecast 08/31/2012
The Australian dollar has fallen overnight to its lowest level in over a month against the Greenback whilst also declining to a nearly two-month low against the Euro.