Archive for the 'Economy' Category
China Unicom Replaces Cisco Devices Over Security Concerns
October 27th, 2012Via: Morning Whistle: China Unicom has replaced Cisco Systems, Inc. (NASDAQ.CSCO) in one of the country’s most important backbone networks, citing security reasons, the 21st Century Business Herald reported. The replacement project targets “China169,” Cisco’s backbone network router of Wuxi node, in Jiangsu province. Analysts indicated that the product vulnerability and back door problems are […]
Android on More Devices than Windows in 2016
October 26th, 2012Via: Reuters: Google’s Android operating system will be used on more computing devices than Microsoft’s Windows within four years, data from research firm Gartner showed on Wednesday, underlining the massive shift in the technology sector. At the end of 2016, there will be 2.3 billion computers, tablets and smartphones using Android software, compared with 2.28 […]
Australia: Banksia Financial Group Collapses
October 26th, 2012Via: Perth Now: RETIREES, schools and sporting clubs are in shock and fearful about the fate of their investments following the collapse of Banksia Securities. Thousands of people hundreds of millions of dollars in losses after the shock collapse of Banksia Financial Group. Receivers McGrathNicol took charge of the non-bank financial firm, based in Kyabram […]
Adding Values to Banking
October 25th, 2012If you find yourself thinking, “I know all of this,” as Kristen Christian is speaking, fast forward to the segment with Peter Blom at 24:00. Via: Radio New Zealand: The shockwaves from the global financial crisis of 2008 continue to be felt around the world and the banking profession has rarely be held in such […]
The Germans Are Coming for Their Gold
October 25th, 2012Via: CNBC: A German federal court has said that country’s central bank should conduct annual audits and physically inspect its gold reserves worldwide, including gold in the custody of the Federal Reserve Bank of New York. In addition to the FRBNY, Bundesbank gold is stored in London, Paris and Frankfurt. For decades, the Bundesbank has […]
Large Cash Transactions Banned In Mexico
October 24th, 2012Via: Forbes: Outgoing Mexican President Felipe Calderon has signed into law a ban on large cash transactions. The ban will take effect in about 90 days and it is part of a broader effort to control monetary flows within the country. Under the law, a Specialized Unit in Financial Analysis operating within the Attorney General’s […]
Iran Threatens to Halt Crude Exports If Sanctions Intensify
October 23rd, 2012Via: Bloomberg: Iran will suspend all oil exports, pushing global crude prices higher, if the U.S. and Europe tighten sanctions further on the OPEC member’s economy, Oil Minister Rostam Qasemi warned. “If you continue to add to the sanctions, we will stop our oil exports to the world,” he said at a news conference in […]
Frack Site Near Pennsylvania Nuclear Plant
October 23rd, 2012Via: Shale Reporter: The new permit granted to Chesapeake is located 1.06 miles from FirstEnergy Corp. nuclear facility in Shippingport. According to DEP records, the permit for an unconventional well was issued to Chesapeake on Oct. 3. Drilling has not yet started. DEP spokesperson John Poister said there are no required setbacks specifically relating to […]
‘IMF’s Epic Plan to Conjure Away Debt and Dethrone Bankers’
October 23rd, 2012If nothing else, it makes for an entertaining read. Via: Telegraph: So there is a magic wand after all. A revolutionary paper by the International Monetary Fund claims that one could eliminate the net public debt of the US at a stroke, and by implication do the same for Britain, Germany, Italy, or Japan. One […]
Sussex Rural Electric Cooperative: ‘Owned by Those it Serves’
October 23rd, 2012Via: northjersey.com: When we buy stuff-gas, groceries, clothes, cars, you name it-we almost always buy from businesses whose primary goal is to make a profit for their owners or shareholders. Profit-based private enterprise has served America well, but in some instances another approach has worked, too: the cooperative method. One of New Jersey’s stellar examples […]
