South Korean policymakers joined the global chorus of virtual-coin critics on Thursday, saying Seoul is considering shutting down domestic virtual currency exchanges as the new breed of market exposes users to speculative frenzy and crime. The country’s tough stance comes as policymakers from the United States to Germany struggle to come up with stricter regulation against money laundering and other crimes.
Private messaging app Telegram is planning to gatecrash the cryptocurrency world with a blockbuster ten-figure initial coin offering. The company, which reaches more than 170 million monthly users, is looking to raise at least $1.2 billion from a token sale which would include a private sale set for February 2018 and public sale in March, as Business Insider reported.
Latest reports on the Canadian labour market outperformed expectations by the end of the year. The country's unemployment rate was at its lowest level in more than four decades, becoming the reason for the BoC to consider further rate increases more willingly.
Switzerland has banned crustacean cruelty, which means no boiling a lobster while it's alive. On Wednesday the Swiss government announced the ban of boiling live lobsters without stunning them first, swissinfo reported. By March 1, 2018, the government has ordained Swiss chefs will have to "stun" the crustaceans first before they drop them into the boiling hereafter. “Live crustaceans, including the lobster, may no longer be transported on ice or in ice water. Aquatic species must always be kept in their natural environment. Crustaceans must now be stunned before they are killed,” according to the new Swiss law.
Apple said on Wednesday it would make a one-time payment of $38bn to repatriate some of its vast overseas cash holdings, one of the largest corporate spending plans announced since the passage of a tax cut signed by U.S. President Donald Trump. The company, which has faced international criticism for its tax evasion policies, also said it would spend $30bn in the US over the next five years, creating 20,000 new jobs.
Switzerland has moved a step closer to breaking free of the European Union (EU) after the government allowed proponents of a campaign to curb immigration to start canvassing public support for a referendum. The country is not a member of the EU but currently has open borders with the bloc as a price for access to the Single Market. However, the populist Swiss Freedom Party (SVP) have been pushing for a referendum on the matter.
A latest Bloomberg survey shows economists expect Swiss National Bank (SNB) to raise rates only after the European Central Bank (ECB) begins tightening cycles. Thus, SNB is not seen raising rates before the fourth quarter of 2019.
Being back at work after the holidays can be a bit of a nuisance. Especially bearing in mind that the next time off could be far, far away. Here are three books, all published in the last 3 weeks, to help deal with that feeling of being overwhelmed.
Magnus Arveng: "I have no doubt that technology is going to drastically change the world we live in. And I think we live in one of the most interesting time periods of humankind to be alive. But whether or not our technological advancements are exclusively for the better remains an open question"
Business interruption (BI) is the most important global risk for the sixth year running, according to the Allianz Risk Barometer 2018. As the risk landscape develops, companies now face an increasing number of scenarios ranging from traditional exposures like water, fire and supply chain disruption, to new intangible risks related to cyber in the ever-digitizing world.
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