Why Is Russia Stockpiling Gold?

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…What should we make of the fact that the Central Bank of Russia has been steadily amassing vast gold reserves since 2015? The original article has been edited here for length (…) and clarity ([ ]) by munKNEE.com – A Site For Sore Eyes & Inquisitive Minds – to provide a fast & easy read. By the end of 2017,… Read More

Netcare to exit UK market as rental costs, NHS pressures pile up

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JOHANNESBURG — Hospital operator Netcare is exiting the UK market amid rental cost pressures and challenges with NHS. It’s a big story as certain external factors have driven Netcare to see no other option. However, in the note below, Netcare says its South African business is still ticking over strongly. What’s concerning, though, is that… Read More

Sibanye-Stillwater partners with Wits to create the 'mine of the future'

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In a technology-focused partnership that will help make mines safer and more productive, Sibanye-Stillwater and the Wits Mining Institute (WMI) at the University of the Witwatersrand, today launched the Sibanye-Stillwater Digital Mining Laboratory (DigiMine). DigiMine is a simulated mining environment in the Chamber of Mines building on the West Campus of Wits University, whose facilities… Read More

Germany Approves Russia-Led Nord Stream 2 Gas Pipeline

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Authored by Tsvetana Paraskova via OilPrice.com, Germany approved on Tuesday the construction and operation of the Russia-led Nord Stream 2 gas pipeline in its territorial waters, thus issuing all necessary permits for the German section of the project that has torn Europe and EU member states over the implications of Russia’s gas giant Gazprom gaining even more… Read More

Coincident Economic Indicators: History Suggests Recession Is Close

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Authored by Mike Shedlock via MishTalk, The Philadelphia Fed’s coincident economic activity index suggests the economy is close to recession. The Coincident Economic Activity Index is produced monthly by the Philadelphia Fed. The indexes are released a few days after the Bureau of Labor Statistics (BLS) releases the employment data for the states. The coincident indexes combine… Read More

Deutsche Bank Preparing To Oust CEO John Cryan

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With Deutsche Bank shares heading back toward their 2016 postcrisis lows and yields on DB default swaps moving sharply higher, the Times of London reported Tuesday that Germany’s largest lender is planning to part ways with CEO John Cryan after the CEO fell out of favor with Supervisory Board Chairman Paul Achleitner. Though the Times… Read More

Mapping Where Global Tariffs Are Highest And Lowest

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Last week, China announced that it would retaliate against U.S. tariffs by imposing its own duties on a range of American products including apples, port and steel pipes. Last Thursday, President Trump signed an executive memorandum that could lead to tariffs being imposed on up to $60 billion of Chinese products, a move which is… Read More

Ayn Rand Would Laugh

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“We can ignore reality, but we cannot ignore the consequences of ignoring reality.” Ayn Rand. This article was written for Miles Franklin by Gary Christenson. The western world has ignored economic realities for decades. It’s not a Republican or Democratic problem. Banking, power, fiat currencies, dishonest money and transfers of wealth are the issues. The… Read More

Steinhoff rabbit holes: The curious case of Pepkor Global Sourcing

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The Financial Times has reported extensively on Steinhoff and has put its top journalists on exploring fresh angles. Occasionally, there are times when it really is a case of where there is smoke there is no fire. This is a Biznews Premium article. Please login or sign up for a free 1-month trial. Source: biznews.com

Weekly Commentary: Regime Change

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Deutsche Bank (DB) dropped 13% this week to a 15-month low. DB is now down 28% y-t-d. European banks (STOXX) sank 5.0% this week. Hong Kong (Hang Seng) Financials were down 4.9%. Japan’s TOPIX Bank index fell 3.3%. In the U.S., banks (BKX) were slammed 8.0%, the “worst loss in two years.” The Broker/Dealers (XLF)… Read More

Wall Street Reacts To Trade Wars

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Four words sum up the broad consensus from financial analysts with regard the escalating trade wars: “This can turn ugly…” China responded overnight, to Trump’s first $50 billion volley (retaliatory or not) in the trade war, with what many are calling a warning shot with a targeted $3 billion set of tariffs on US products.… Read More

Top economists develop Saga, the ‘thinking person’s cryptocurrency’

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Internationally respected economists have decided to develop a cryptocurrency that gets around the high risks and volatility of Bitcoin and other tokens. Set to become available by the end of the year, Saga could easily become a hit. This is a Biznews Premium article. Please login or sign up for a free 1-month trial. Source: biznews.com