Paying in cash, like using a payphone or typewriter, is often sniffed in our cashless society, as your pound and penny coins, and notes are treated as inconvenient and dirty products of the past, and wonder who gets left behind? Are we seeing the end of true privacy as the cashless future take-over? You could pay…
On January 29, 2020, Jay Powell gave the first press conference of his third year as chair of the Federal Reserve, by flipping open a white binder, looking up briefly to welcome the assembled reporters, and then looking down to read his preprepared statement. His demeanour was low key but his message was upbeat: the…
Caroline Knowles delves into London’s plutocrat’s paradise with more resident billionaires than New York, Hong Kong, or Moscow. Far from trickling down, their wealth is burning up the environment and swallowing up the city. Knowles walks the streets of London from the City to suburban Surrey Via Kensington, Notting Hill, Mayfair, and elsewhere. Her walks…
A $1 trillion crypto crash wipes out the price of Avalanche, Bitcoin, BNB, Cardano, Ethereum, and Solana. Two main cryptocurrencies Stablecoins from the crypto project Terra have gone into free fall prompting the incident of a Ponzi scheme akin to the collapse of Lehman Brothers which precipitated in 2008 financial crisis. UST created by…
“Londongrad” is a phenomenon brought to the fore by Vladimir Putin’s savage attack on Ukraine, with Britain’s Liz Truss slamming the Oligarchs and their associates on the floor of the House of Commons. The British establishment and its financial system provide for dirty money from the post-Soviet era and elsewhere may be seen as an…
Pictures R Nair Chancellor Rishi Sunak is in talks with Bank of England to head off the “cost of living cataclysm” as interest rates lift to 0.5%, from 0.1 per cent in December. Higher interest rates make borrowing more expensive, higher mortgage costs, higher gas bills and harder choices during grocery shopping. Some lenders raised…
Police in Macau have arrested two men including Chan Weng Lin, CEO of Macau Legend Development which runs Landmark Macau, Babylon Casino and Legend Palace Casino in Macau, over alleged money laundering and illegal gambling. The move comes after the arrest in November of high-profile Macau gambling executive Alvin Chau, chairman of Macau’s biggest junket…
Christopher Leonard, the New York Times business journalist, infiltrates the Federal Reserve to show how its policies steered by Chairman Jerome Powell over the past ten years have accelerated income equality and put America’s economic stability at risk. The press credited the Fed when the economy grew and also when the economy imploded in 2008,…
Award-winning financial historian delves into character-driven story of venture capital and the world it made. “Innovations rarely came from experts” Jeff Bezos, Elon Musk was not in the auto industry. When it comes to innovation, the future cannot be predicted, it can only be discovered. Most attempts at discovery fail, but a few succeed at…
NatWest contributed to anti-money-laundering failures that involved black bin liners stuffed full of cash being deposited, and sums so large that one branch’s two floor-to-ceiling safes proved “inadequate” for storing it all. The Bradford Jeweller Fowler Oldfield’s predicted annual turnover was £15m when first taken on as a client, but it ended up depositing…