A district court in northern Switzerland's Zurich on Monday gave a Swiss man a suspended sentence and a 4,000 CHF (4,000 U.S. dollars) fine in a defamation case which involved him "liking" on Facebook posts, local media reported on Tuesday. The 45-year-old defendant was found guilty of defamation for his liking posted on Facebook that accused an animal rights activist of racism and anti-Semitism, the Swissinfo reported.
Long-term planning is typically Chinese, and the great increase in indebtedness in China is not an accident. Western commentators are quite right to note that debt has recently increased tremendously in the land under Beijing`s control, but they seem to be missing the point. The PBoC wants the renminbi to become the leading global currency, and this plan must obviously have been approved by the all-mighty Party.
WhiteScope, an independent provider of cyber security services and training, has just released research that shows that pacemaker programmers, from four major manufacturers, have 8,000 bugs that leave them vulnerable to hacking. More importantly, the researchers said they've also discovered that pacemakers don't authenticate programmers, so any working tool listed on eBay has the potential to harm patients with the implant. “Any pacemaker programmer can reprogram any pacemaker from the same manufacturer.This shows one of the areas where patient care influenced cybersecurity posture.” wrote the researchers in their summary.
The Swedish and New Zealand housing markets are the most at risk of a correction among the so-called G-10 economies, according to Goldman Sachs. In a report on house prices in G-10 nations - those with the 10 most-traded currencies in the world - Goldman finds they are most elevated in small, open economies such as Sweden and New Zealand. A graph in the report shows that New Zealand’s probability of a housing bust is just above 40 per cent, while Sweden’s is just above 35 per cent. The risk of a bust in Canada is about 30 per cent, while in Norway, Australia and Switzerland the probability is assessed at 20-25 per cent.
Switzerland's Classic Factory has announced a sleek, limited-production four-door electric car that will provide exclusivity and ultra-performance to well-heeled EV customers. The Elextra electric car will be exclusive, with plans for just 100 to be hand-built in Germany. It will also be powerful and quick, to match its Italian looks. Elextra's two electric motors provide all-wheel drive, with torque independently distributed to the front and rear wheels for better traction. With a combined peak 680 horsepower, the car will sprint from a stop to 62 miles per hour in under 2.3 seconds. Top speed is limited, though, to 155 miles per hour.
Picking Alpha interview with Dame Ellen MacArthur, Founder, Ellen MacArthur Foundation. This interview was taken at the 10th Annual Forum For Agriculture in Brussels, Belgium. FFA, organized by Syngenta and European Land Owners Organization, is the leading agricultural forum in Brussels, that brings together the greatest trend setters in agriculture and agri policy from all over the world. Ellen MacArthur answers the following questions about Circular Economy:
Singapore said Tuesday it had fined Credit Suisse and United Overseas Bank (UOB), a local lender, for breaches of the city-state's anti-money laundering laws relating to a corruption scandal at Malaysian state fund 1MDB. The Monetary Authority of Singapore (MAS), the country's central bank, said it also imposed lifetime bans on two bankers and a 15-year prohibition order on a third following a two-year review of lenders involved in 1MDB-related transactions.
MiFID II (Markets in Financial Instruments Directive II) aims to ensure financial stability in the European Union member states by improving accountability and transparency in the financial system. Just in few months it will be mandatory for every European Institution to comply with its regulations. Picking Alpha has talked to Karel Lannoo, CEO of CEPS, one of European leading think tanks on what markets can expect from MiFID II.
"Offshore", "tax haven" and more recently "Panama in the EU" are labels that Malta has done its best to shake off. The Institute of Financial Services Practitioners (IFSP) said on Thursday that the a series of “sensationalist” media reports in parts of the international tabloid press, referred to as the “Malta Files” contain several inaccuracies and false statements. “Maltese financial services practitioners operate within a legal and regulatory framework of the highest standards. Malta is a full member of the European Union and all its laws, including anti-money laundering rules, are fully aligned with European rules and best practice.
The crisis in the retail sector, briefly mentioned in Newsletter 161, is ironically speeding up as the sector loses steam if one views the consumer-driven American economy as a train pulled by a 19th century locomotive. The number of store closings may be more than 8,000 in 2017 if the rate current in Q1 continues. Hundreds of mall anchor stores are on schedule to be closed if the train runs on time.
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