News

16.01.2018

Citigroup promised to close gender pay gap

Citigroup will boost job compensation for women and minorities in a bid to close pay gaps in the U.S., United Kingdom, and Germany, becoming the first U.S. bank to respond to shareholder pressure about the inequalities. The New York-based financial company announced the effort Monday, saying it had conducted a survey in the three countries, where it found that women and minorities are paid only slightly less than their male and non-minority counterparts.

 
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16.01.2018

China plans to crackdown cryptocurrency trading

Chinese authorities plan to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading, Bloomberg reported Monday citing sources. Chinese authorities will also target individuals and companies that provide market-making, settlement and clearing services for centralized trading, Bloomberg reported. There is no indication how Chinese authorities plan to restrict access to decentralized currencies.

 
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16.01.2018

EU to remove Panama, 7 others from tax haven blacklist

European Union officials have proposed removing eight jurisdictions from the blacklist of tax havens the bloc adopted in December, in what critics may see as a blow to its campaign against tax avoidance. EU states decided last month to draw up the list in a bid to discourage the most aggressive tax dodging practices.

 
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16.01.2018

Switzerland: Improving EU economy curbs immigration

Fewer people migrated to Switzerland last year than at any point in the past ten years and the number of arrivals from the European Union plunged last year, the Swiss media reported Monday. The number of European Union workers arriving in Switzerland halved last year from a peak in 2013 and net immigration from EU states stood at 30,799 in 2017, Swissinfo said, quoting the NZZ am Sonntag newspaper.

 
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16.01.2018

Economists warn Bitcoin manipulated by one or two big actors

Researchers found that a single actor was “likely” behind several accounts that bought millions of dollars worth of bitcoin and drove the exchange rate in the US from $150 to $1,000 over the course of two months. In a paper published in a recent issue of the Journal of Monetary Economics, a team of researchers examined the impact of fraudulent activity that occurred on the leading bitcoin currency exchange in 2013, and found that a single actor was “likely” behind a massive spike in exchange rates.

 
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15.01.2018

Blue Monday: why is not the worst day of the year

Over the past decade, hordes of innocent people have bought the idea that the third Monday of January is the most depressing day of the year, despite there being no scientific evidence to support it. While originally conceived by a PR company, mental health professionals have despaired. That’s because, to many people, the Monday blues is a reality.

 
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15.01.2018

Singapore Central Bank hopes crypto tech could will survive crash

Ravi Menon, who is the chief of the Singapore's de facto central bank, expressed hope on Monday that technologies underpinning cryptocurrencies and the blockchain would survive a crash in the former, news agency Reuters reported. The Managing Director of the Monetary Authority of Singapore (MAS) said at a UBS Wealth Insights event that he hoped an eventual crash in cryptocurrencies will not undermine the much deeper, and more meaningful technology associated with them.

 
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15.01.2018

Dollar vs Euro

US dollar weakness at the end of 2017 and the start of 2018 has made it clear that traders are going to have to be careful with dollar futures. On Friday, 12thJanuary 2018, the euro was trading at 1.2202 against the US dollar with an increase of 1.41% for the day (+0.0170). That the dollar is weakening seems odd as the Fed has clearly given forward guidance for three more interest rate increases in 2018. Given that, one would expect a stronger dollar especially as QT (Quantitative Tightening) has only begun.

 
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15.01.2018

US Government fears Bitcoin become next Swiss bank account

The US Treasury Secretary, Steven Mnuchin, stated that he’s “concerned consumers could get hurt” by using cryptocurrencies. To this he further declared that he would be working with the Group of 20 nations to prevent cryptocurrencies such as bitcoin from becoming the digital equivalent of an anonymous Swiss bank account. Mnuchin, during an interview at the Economic Club of Washington, said that the Financial Stability Oversight Council (FSOC) created a working group to examine digital currencies like bitcoin.

 
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15.01.2018

GM will launch robocars without manual controls in 2019

The autonomous revolution is nearly upon us, and General Motors is entering the fray properly with this, the Cruise AV. The fruit of GM's $1 billion acquisition of Cruise Automotive back in March of 2016, the Cruise AV is a properly driverless car. That is to say, it has no steering wheel, no pedals and no real driver controls at all -- aside from a touchscreen -- and GM says it'll hit the road in 2019.

 
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