Category: Investing

China Guilty of Discrimination Against Foreign Payment Cards


The World Trade Organisation has ruled that China discriminates against foreign providers of electronic payment services. Currently, only one company in China, UnionPay, is allowed to process yuan-denominated transactions.

According to the WTO dispute panel, Beijing has violated WTO rules by requiring all yuan-denominated payment cards issued in China to work with the network belonging to the state-owned UnionPay, as well as requiring every merchant and ATM to accept UnionPay.

Jim Rogers On The Best Investment Opportunities In The World Right Now: Interview


World markets appear to be hovering over a precipice as Europe’s sovereign debt crisis, slowdowns in India and China and further bank downgrades threaten to send stocks and commodities down even further. Falling oil and gas prices may offer some respite to consumers but are they enough to help the economy or are they a symptom of deeper problems?

To help Oilprice.com look at these issues and more, we are joined by the well-known investor, adventurer and author Jim Rogers.

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McDonald’s To Have Monopoly On Fries At London Olympics


Food caterers at the upcoming London Olympics have been banned from serving fries – otherwise known as “chips” in the U.K. – at any of the games’ events, reported the Daily Mail on Wednesday, after fast food giant McDonald’s obtained exclusive rights to sell the dish in and around Olympic venues.

US Banks Clean Up With Green Pledges


Bank of America has become the latest U.S.-based bank to commit to new environmental investments, reported Reuters on Monday, after the company announced a 10-year, $50 billion Environmental Business Initiative, which will provide loans and other financing for environmentally friendly energy projects.

Fast Food Giants Report Declining Profits As Asians Lose Taste


Global fast food giants McDonald’s and Yum! Brands, which runs the KFC and Pizza Hut chains, will introduce more value-priced items on their Asian menus over the coming months, reported Bloomberg on Monday, after latest figures saw a significant drop in its sales taking within the region.

“World’s Most Dangerous Banker” Leaves Job With Ominous Euro Warning


Deutsche Bank chief executive Josef Ackermann, once described as “one of the most dangerous bankers in the world” by former IMF chief economist Simon Johnson, has stepped down from his role at the world’s largest foreign exchange dealer after more than a decade in charge, reported the New York Times on Thursday.

Google Gone Green: Can Google Be An Advocate For Renewable Energy?


As a major consumer of energy, Google’s recent efforts to go green are seen as a welcome step by the environmental advocates, who see the Internet giant as an important future player in the renewable energy industry. But can Google really capitalise on its momentum and become an influential figure in energy policy?

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EU May Order France To Overturn Monsanto Ban


The European Union’s food safety body, the European Food Safety Authority (EFSA), said on Monday that it would consider forcing France to lift its ban on a Monsanto strain of genetically modified maize, after ruling that there was no “specific scientific evidence” to the strain’s impact on health or the environment.

In 2008, France banned the MON 810 strain of maize following public protests against the crop; though this decision was eventually overturned by a French court in 2011.

Japan Crack Down On “Alibi Companies” For Sex Workers


Japanese police are investigating the inner workings of the nation’s alibi-ya industry, reported ABC News on Monday, after officials busted two alibi-ya clients for using false documents to obtain a large bank loan.

Infographic: Facebook: The IPO Everyone’s Talking About


Mark Zuckerberg and friends are about to get even richer than they already are: Facebook was born almost eight years ago, developed and launched from inside a Harvard dormitory room. In a few hours, when Zuckerberg rings the Nasdaq opening bell, Facebook will become one of the largest and most valuable stock offerings in U.S. history.

Priced at $38 a share, Facebook is valued at $104 billion, the biggest ever valuation by a U.S. company at the time of its offering.