News

13.09.2017

UBS warns: Australian housing market built on $500 bn of liar loans

The UBS banking team has released its annual survey on factual inaccuracies in Australian mortgage applications, and the results aren't pretty. The latest detailed survey of more than 900 people who took out a home loan in 2017 has found that only 67 per cent responded that their mortgage was "completely factual and accurate", down from 72 per cent of 2016 borrowers.

 
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13.09.2017

CEO JP Morgan is convinced: Bitcoin is a Fraud

JPMorgan CEO Jamie Dimon says bitcoin is worse than the most infamous asset bubble in history. Speaking at a banking conference in New York, Dimon said he would fire “in a second” anyone at the investment bank found to be trading in bitcoin. “For two reasons: it’s against our rules, and they’re stupid. And both are dangerous.” He added: “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.

 
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13.09.2017

Swiss watchdog opens the door: Booking.com under investigation

The Swiss federak price watchdog has initiated proceedings against Booking.com, hotel booking platform, after finding signs of “price abuse” concerning commissions that hoteliers have to pay in Switzerland.  During an investigation, watchdog Stefan Meierhans examined commissions paid by hoteliers to the site and found indications of abusive prices, news agency ATS reported on Tuesday. 

 
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13.09.2017

QS graduate employability rankings 2018: Zurich in the Top 20

Stanford University has been named the best university in the world for graduate employability for the second consecutive year, acccording to QS Quacquarelli Symonds, global higher education analysts and career advice specialists. The American institution is one of 13 United States of America universities in the top 25 of the QS Graduate Employability Rankings 2018, which assesses how successfully universities produce employable graduates and foster connections between students and employers.

 
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13.09.2017

Richemont sales beat expectations, +12% in last five months

Swiss luxury goods group Richemont has reported a 12 per cent rise in sales in the five months to August 31 in constant currencies, boosted by jewellery and strong performances in China and Hong Kong.

 
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12.09.2017

Family offices, looking at emerging markets, recorded a healthy 7% last year

Equities and private equity drove a turnaround in family office investment performance this past year, as revealed in the newly-released Global Family Office Report 2017 (GFO). The composite global portfolio of family offices (FOs) returned a healthy 7% in 2016, compared with 2015’s disappointing 0.3%. Growth was driven by equities and private equities, which represent a combined 47% of family office portfolio. Meanwhile, performance of hedge funds and real estate was more subdued, and their popularity among FOs declined accordingly.

 
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12.09.2017

Austria launched ultra-long Bond, 100-year

Austria is set to raise 100-year debt in the latest indication of hot investor demand for long-dated sovereign bonds. It aims to raise at least €1bn; bids from potential investors have topped €11bn, dealmakers say. A successful sale would demonstrate that demand for super-long bonds, whose prices are extremely sensitive to interest rate changes, remains solid even as central banks start winding down their crisis-era stimulus measures.

 
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12.09.2017

The Fall of the US Dollar

This Newsletter has repeatedly brought the attention of readers to the situation of the US dollar and the extreme indebtedness of Washington, which now practically has a national debt of 20 trillion without calculating all the other liabilities. Proposing a defense budget of almost 700 billion to maintain over 800 bases globally is going to help lead to national bankruptcy.

 
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12.09.2017

Former Trader Deutsche Bank sued by US Justice

The U.S. Justice Department on Monday charged Deutsche Bank’s former head of subprime mortgage trading with civil fraud in connection with conduct dating back to the 2007-2009 financial crisis. According to an announcement from the Department of Justice, Paul Mangione, the former Deutsche Bank head of subprime trading, allegedly “engaged in a fraudulent scheme to misrepresent the characteristics of loans backing two residential mortgage-backed securities that Deutsche Bank sold to investors that resulted in hundreds of millions of dollars in losses.”

 
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12.09.2017

China worries Bitcoin's world with a ban's project

Chinese authorities are preparing to shut down the country’s bitcoin exchanges, according to people familiar with the matter, reflecting a growing unease with the virtual currency and its recent surge in value, as  multiple Monday reports wrote. 

 
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