Economy

EU orders Apple to pay Ireland up to €13bn in unpaid taxes

Ireland Apple unpaid taxes EU

Apple has been ordered to pay up to €13bn (£11bn) in back taxes to Ireland after the European commission ruled that deals between Apple and the Irish tax authorities amounted to illegal state aid. The commission said Ireland’s tax arrangements with Apple between 1991 and 2015 had allowed the US company to attribute sales …

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Central banks now asking governments for help

People’s Bank of China Gov Zhou Xiaochuan ECB President Mario Draghi Fed Chairwoman Janet Yellen Bank of Japan Haruhiko Kuroda

Central bankers in charge of the vast bulk of the world’s economy delved deep into the weeds of money markets and interest rates over a three-day conference here, and emerged with a common plea to their colleagues in the rest of government: please help. Mired in a world of low …

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Gold Fields CEO: we are facing a global gold shortage

Gold Fields CEO Nick Holland

By Filip Karinja Nick Holland, CEO of South African based gold miner Gold Fields, stunned the audience with his speech at the Australasian Institute of Mining and Metallurgy conference in Brisbane on Monday. Holland stated that the gold mining industry is not spending enough to sustain itself into the future, with slowed …

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Central banks dump U.S. debt at record pace

Central banks dump US debt record pace

Global central banks are unloading America’s debt. In the first six months of this year, foreign central banks sold a net $192 billion of U.S. Treasury bonds, more than double the pace in the same period last year, when they sold $83 billion. China, Japan, France, Brazil and Colombia led …

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The next banking crisis is coming

By Filip Karinja Following the global financial crisis back in 2008 you’d think the banks had solved their issues and it is business as usual. However this is not the case, something big appears to be lurking in the shadows of the banking system that could make 2008 look like …

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Silver: once and future money

Silver bar money 9999

Before the Renaissance, world money existed as precious metal coins or bullion. Caesars and kings hoarded gold and silver, dispensed it to their troops, fought over it, and stole it from each other. Land has been another form of wealth since antiquity. Still, land is not money because, unlike gold …

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Why Australia can’t avoid a recession

Steve Keen Australia recession

By Filip Karinja On the 28th July 2016, Professor of Economics at Kingston University, Steve Keen, gave a presentation on the outlook of the Australian economy at The Royal Society of Victoria located in Melbourne. The British-based economist and author of the popular Debunking Economics book considers himself to be …

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European banks on the brink of collapse

Europe banking crisis Deutsche Bank

Top financial institutions in Europe have hardly been more vulnerable to an economic tremor, a situation worsened by the collapse of the German credit market as Berlin suddenly stopped issuing new debt. Europe’s top financial institutions are teetering on the edge of collapse as access to high quality debt products have created a liquidity …

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NatWest bank may start charging customers to hold cash

NatWest bank charge customers hold cash

NatWest has said it may start charging customers to hold cash if the economy takes a tumble. The bank warned more than one million of its customers it could introduce negative interest rates if that were to happen. This would mean customers are effectively paying the bank to hold their …

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Silver is the best performing commodity of 2016

Silver best performing commodity 2016

From Filip Karinja Silver has surged over 40% since the beginning of 2016, making it the number performing commodity of 2016. But is the surge of the precious metal just the beginning of things to come? Historically the price of silver tends to track the price of gold as both …

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