19 April, 2015 by The TZ Newswire Staff Comments Off on Some banks tried to renege on deals after SNB’s policy U-turn: Bloomberg
Some banks tried to renege on deals after SNB’s policy U-turn: Bloomberg
The banks sought to reduce their losses by trying to renege on transactions by contacting customers after the SNB decision, asking to discuss the rates they’d traded on, Bloomberg said. Some currency trading firms and major banks lost out when the SNB scrapped its three-year-old cap on the franc against the euro (EURCHF=EBS) without warning on Jan. 15. Barclays lost “tens of millions” of dollars and retail broker Alpari UK filed for insolvency.
19 April, 2015 by The TZ Newswire Staff Comments Off on Does Apple Pay Even Matter for Financial Stocks?
Does Apple Pay Even Matter for Financial Stocks?
I’m not convinced Apple Pay matters to investors today.
19 April, 2015 by The TZ Newswire Staff Comments Off on What Happens When A Russian Surface-To-Air Missile Launch Goes Horribly Wrong
What Happens When A Russian Surface-To-Air Missile Launch Goes Horribly Wrong
Shortly after Russia announced early last week that it would take advantage of the lifting of the Iran sanctions and proceed to deliver an unknown number of S-300 “defensive” surface-to-air missiles, the Kremlin sought to reassure Israeli Prime Minister Benjamin Netanyahu that any deliveries of these to Iran will not threaten Israel’s security.
19 April, 2015 by The TZ Newswire Staff Comments Off on The Money Mistake You Don’t Know You’re Making
The Money Mistake You Don’t Know You’re Making
Your relationship to probability is a lot less straightforward than you think.
19 April, 2015 by The TZ Newswire Staff Comments Off on Forget The Snow, It’s The Drought That Is Crushing The US Economy
Forget The Snow, It’s The Drought That Is Crushing The US Economy
With all eyes and talking heads focused on the ‘weather’, it seems cold, wet, snowy, and frigid are the most GDP-destructive adjectives. However, as Bloomberg reports, the drought out West is starting to infiltrate U.S. housing data, according to the chief economist of a homebuilders’ group, and weakening a major part of the nation’s economy.
19 April, 2015 by The TZ Newswire Staff Comments Off on China cracks down on the ‘sport for millionaires’
China cracks down on the ‘sport for millionaires’
President Xi Jinping’s crackdown on vice and corruption in China has now turned to a less obvious target: golf. The NYT reports.
19 April, 2015 by The TZ Newswire Staff Comments Off on Is The Credibility Bubble Bursting?
Is The Credibility Bubble Bursting?
Submitted by John Rubino via Dollar Collapse blog,
In a fiat currency system, perception is, by definition, everything. Paper money has no intrinsic value. So the people saving it and accepting it in exchange aren’t expressing faith in the money itself but in the competence and honesty — and power — of the institutions managing it. Let that faith erode and those slips of colored paper and ephemeral computer bits revert to their intrinsic value.