Average incomes of China's urban and rural residents continued to rise steadily in the first half of 2014, official data showed. The average disposable income rose 10.8% year on year to 10,025 yuan ($1,629) in the first six months, according to the National Bureau of...
Read More
Research shows extent to which payday loans and unauthorised overdrafts are being used to pay for essential expenses. One in six families are covering essential costs with payday loans or unauthorised overdrafts, or are defaulting on household bills, in the most financially distressed parts of Britain,...
Read More
Unhappy at your job? Do you feel underappreciated and overworked? You’re far from alone – 70% of U.S. employees say they do not feel “engaged” at work according to a 2013 Gallup poll. Tony Schwartz, CEO of The Energy Project, a firm that works with...
Read More
Here’s a quick question for you. What do the following years have in common: 1853, 1906, 1929, 1969, 1999 Pass the question around your office. Call your money manager and ask him or her, too. Post it on your office notice board. Give up? Those were the peaks of...
Read More
A recently published World Bank policy research working paper on Ponzi schemes mentions bitcoin as a “naturally occurring Ponzi”, clarifying that it has nothing to do with deliberate Ponzi schemes, as some bitcoin critics have claimed. Kaushik Basu, World Bank economist and author of ‘Ponzis: The...
Read More
In recent years the number of Chinese outbound tourists has surpassed 100 million. Theynow become the world leader inteir purchases. For example, Chinese tourists who makeup only 1% of the total passenger traffic in Heathrow airport in UK represent about 25%of local duty-free sales. So...
Read More
One out of every million Vietnamese nationals is classified as ‘super-rich,’ and the number of such affluent people in the Southeast Asian country has increased almost fourfold in the last ten years, a World Bank report released Tuesday reveals. The ‘super-rich’ are individuals defined as having...
Read More
Wall Street investment banks have found the key to getting employees to work longer and harder: Give them the power to set their own hours and time off. Highly educated employees given autonomy over their own schedules end up working harder because they want to prove...
Read More
What are the reasons for economic booms and busts and which reforms are necessary to create an economically viable monetary order? On 2 April, Thorsten Polleit addressed these questions in his lecture “Boom & Bust, or: Planned Chaos” referring to the Austrian school of economics....
Read More
The Bank of International Settlements, an international finance watchdog that serves as a counter-party for national central banks, has again warned that investors are unprepared for a potential financial crash. Jaime Caruana, head of the BIS, told The Telegraph that he believed the world economy is...
Read More