Promoting the elite at the expense of the workers

Trade conflicts caused by governments promoting the interest of the elite at the expense of workers. Across the world, the rich have prospered while workers can no longer afford to buy what they produce have lost their jobs, or have been forced into higher levels of debt. The class wars of rising inequality are a…

Corruption at the Deutsche Bank

There is a scandal in the Wealth Management division of Deutsche Bank which paid £1.1m to secure the wealth management business of a senior Saudi Royal financial adviser, whose wife was paid according to an internal probe that led to two former employees being reported to criminal prosecutors. The money transfers were arranged in 2011…

Help to. Buy significant market risk

Help to Buy was introduced by David Cameron’s coalition government in 2013, with the aim of helping more people to get on the property ladder, instead  63 per cent of people using the Government’s Help to Buy scheme could have purchased their properties without it, and 19  per cent were not first time buyers. According…

Chinese farmer sets up a fake bank

Zhang,  a Chinese farmer set up a fake branch of one of the world’s largest banks was caught when he stopped customers withdrawing money. He created the China Construction Bank in Shandong  a fake branch  with card readers, passbooks and three teenage girls as bank tellers and ran for over a month and swindled thousands of…

Budget 2015: Osborne unveils National Living Wage

George Osborn delivered his 7th budget as Chancellor, the first for a Conservative government since November 1996, unveils millions in tax cut but surprises with a compulsory national wage of £9 an hour by 2020.  *New national living wage will be introduced for all workers aged over 25, starting at £7.20 an hour from April…

Short sellers trigger Shanghai stocks rout

Shanghai Index and the Shenzhen composite were both down 5.8 per cent and 5.4 per cent respectively. The two indices have fallen 30 per cent since June 2015 and is destabilising the Chinese economy at a time when it shows signs of slowing down.  China’s Securities Regulatory Commission said it had opened a probe into…

2.1m over 55s can cash in on their pension pot from today!

For the first time 2.1 million over 55s will have access to billions of pounds from today,   are able to cash in on their pensions and spend them as they wish. Prime Minister David Cameron, has blown his own trumpet, that nearly 2.1 million over 55s will able to cash in all or part of…

Mt Gox collapse probe

The latest report by Wizsec, a five man security consulting firm, hints  what could have happened at Mt Gox, which went bust almost a year ago saying it had lost track of 850.000 coins then worth almost $500m could have been an inside job.  The bot known as willy assigned itself dozens of accounts with…

Bitstamp loses 19000 bitcoins worth £3.3m after a vicious Cyberattack

“Avoid bitcoins for Now”- Gavin Anderson On Monday, 5th January 2015, Security concerns were alarmingly raised at Bitstamp Europe’s leading bitcoin exchange, after an apparent hack that led to the company losing 19,000 bitcoins, worth £ 3.3m. This led to a sharp fall in the price of crypto currency. Bitcoin at its peak, traded for…