Markets Archives - Page 664 of 782

Abuse, Errors and Inconsistencies Found In Foreclosures

A Californian audit has uncovered gross levels abuse in foreclosures, with almost 84 percent of all foreclosures illegal and two-thirds of all foreclosures with at least four violations or irregularities.

The study, commissioned by Phil Ting, a San Francisco accessor-recorder, studied 400 foreclosure sales in the city from January 2009 to November 2011 and uncovered rampant abuse similar to lender fraud and faulty documentation found in other parts of the United States.

Should We Care About Income Inequality, Now That It Is Killing The Economy?

In the last few years, the debate on socioeconomic inequality has received greater media attention and academic interest, especially after last year’s Occupy Movement. However, governments across the world have been slow to enact real changes to address the rising epidemic. Income disparities have the potential to upset social equilibriums, and when that happens, the economic recovery might inadvertently be stalled.

Al Gore Hits Out At ‘Unsustainable Capitalism’

Former U.S. vice-president Al Gore has hit out against what he sees as ‘unsustainable’ capitalism, and calls for remedial changes to the financial industry which can promote long-term and environmentally sustaining economic and investment growth.

Gore and David Blood, both founders of Generation Investment Management, released a white paper on Wednesday on how to do away with irresponsible short-term investment and to avoid future financial crises.

China Promises More Help For Euro Debt

China is ready to invest even further into eurozone governments’ debt, reported Reuters on Wednesday, after the central bank’s governor called on the region to produce more attractive investment options.

China wants to “get more involved” in Europe, said People’s Bank of China Governor Zhou Xiaochun in Beijing, echoing comments made by Chinese Premier Wen Jiabao earlier that week.

Pakistan, Afghanistan and Iran Hold Anti-Terror Trilateral Summit

Starting Thursday, Pakistan will play host to leaders from Afghanistan and Iran, in a trilateral summit aimed at strengthening and promoting peace and security in the region. The two-day summit however comes amid high tensions between Tehran and the West.

Let The Courtship Begin: Chinese Vice-President Makes Official Visit To Washington

Chinese Vice-President Xi Jinping began his weeklong official visit to the United States yesterday, in a visit that could determine bilateral ties with the two powerful nations for the next decade.

In an indication of the clout and importance of the man himself, Xi arrived in Washington yesterday welcomed by a 19-gun salute and an honor guard of 325 troops from each branch of the United States military, a welcome never before bestowed upon a foreign vice president.

UK Wants To Outlaw Cheap Booze

UK Prime Minister David Cameron has suggested putting a minimum price on all alcohol purchases nation-wide, after claiming that the alcohol abuse “scandal” was costing the National Health Service (NHS) over £2.7 billion ($4.24 billion) annually.

The Prime Minister signalled that he was ready to throw his weight behind a plan, which is already being implemented in Scotland, where supermarkets and pubs would be forced to charge a minimum of 45p ($0.71) per unit of alcohol.

China Bans Foreign Shows From Prime Time Television Slots

China’s television broadcasting regulator, the State Administration of Radio, Film and Television (SARFT) has banned their local TV channels from broadcasting foreign-made shows during the prime time slot of 1930-2200hrs every day, ”, said the China Daily on Tuesday. in order to “improve the quality of imported TV programmes.”

Infographic: What’s Wrong With Our Generation?

Though considered on the most educated generation in history, this generation is also living through one of the worst economic crises. From a weak job market to the global economic downturn, are the Millennials cut out for this market?

The newest generation is soon approaching the prime of their lives. Raised as a generation, the Millennials grew with the Internet boom, and they are nothing like their parents. They are social, independent, and entrepreneurial.

Europe’s Fate Rests In The Hands Of The ECB: Mario Blejer & Eduardo Levy Yeyati

The ECB’s recent decision to lend unlimited funds to eurozone commercial banks at very low rates acknowledges the need to address a core drawback in the euro-architecture: the ECB itself. However the banks use the money, it is now clear that the eurozone’s future will be determined largely by the ECB.