Economy

Australian government to track $100 notes with nano-chips

Australia one hundred dollar note nano chips cashless society

The Australian government plans to crack down on the ‘black economy’ by implanting $100 and $50 notes with hi-tech nano-chips so they can be surveilled. No this isn’t a futuristic Hollywood movie, this is Australia in 2017. With around 300 million $100 notes in circulation carrying out such a task seems …

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Australia’s household debt-to-income ratio is at an all-time high

Australia household debt income ratio

The Bank for International Settlements has warned that record household debt levels amassed in the past decade have left Australians among the most vulnerable to a sharp rise in global interest rates. According to the Reserve Bank of Australia, household debt-to-income ratio for Australia is at an all-time high of 189%. …

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Marc Faber warns stock market will plummet at least 40%

Marc Faber stock market crash

If the man often hailed as the original “Dr. Doom” is right, the stock market could see another “lurch” higher — at which point investors may want to cash out quickly and run for cover. Marc Faber, the editor of “The Gloom, Boom & Doom Report’ and a perennial bear, …

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Italian government to bail out two more banks for 5.2bn euros

Italy government bail out banks

Italy’s government is bailing out two banks in the Venice region at a cost of 5.2bn euros (£4.6bn; $5.8bn). The move comes two days after the European Central Bank warned that Banca Popolare di Vicenza and Veneto Banca were failing or likely to fail. The banks’ “good” assets will be …

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Alibaba’s Jack Ma: In 30 years time people will only work 4 hour days

Alibaba Jack Ma 4 hour work day

Alibaba founder Jack Ma spent 800 hours traveling around the world last year and plans to increase that to 1,000 in 2017, discussing his growing e-commerce platform, globalisation and artificial intelligence. The billionaire Chinese businessman sat down his week at the Gateway ’17 conference in Detroit for a wide-ranging interview …

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Cryptocurrency exchanges shut down due to heavy trading on Bitcoin

Cryptocurrency exchanges shut down trading Bitcoin

The Bitcoin market hit record highs over the weekend before dropping further than it has in years. Several exchanges for the cryptocurrency suffered outages during the fluctuation, leaving customers unable to buy or sell for hours. Coinbase, one of the most popular ways to buy and sell popular cryptocurrencies such …

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Market manipulation: $4 billion of gold futures ahead of Comey testimony

Just minutes ahead of James Comey’s testimony that many hoped would lead to Trump impeachment, it appears someone decided it was an opportune time to dump $4 billion notional gold futures, seemingly confident this will not be a “constitutional crisis.” Over 30,000 contracts suddenly flushed ahead of Comey… This move …

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Bitcoin smashes $2,900 mark to hit record high

Bitcoin record high cryptocurrency

Bitcoin’s rocketing rise in value shows no sign of abating after breaking the $2,900 mark Tuesday. The digital payment reached a value of $2,967.48 at around 1.20pm UTC Tuesday, according to the Coindesk Bitcoin Price Index. The pricing is a record high for the cryptocurrency which has been hit with …

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The 2017 ASX Australian investor study top 10 findings

Top 10 2017 ASX Australian investor study

The 2017 ASX Australian investor study results were recently released, here are the top 10 findings from the report: 1 – 60% of Australian adults or 11.2 million people hold investments outside of their institutional superannuation fund. 2 – 37% of Australian adults or 6.9 million people hold investments that are available …

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