AngloGold Ashanti generated $88m in free cash flow for the September quarter with gold production up 11% year-on-year and the group is on track to meet its full-year guidance on production, costs and capital expenditure. That’s the assessment from CEO Srinivasan (Venkat) Venkatakrishnan who commented, “every metric is going in the right direction with a […]
Happy days are here again for the U.S. economy – at least temporarily. On Friday, U.S. stocks hit another brand new record high. It seems like we are saying that almost every day lately, and most investors are absolutely thrilled by this seemingly endless surge. Global stocks are surging too – today world stocks hit a new record high for the 4th consecutive day in a row. But of course it isn’t just stock prices that are rising. As the week ended, pretty much everything was up, and we also got some good news about consumer sentiment. According to the new University of Michigan survey that was just released, U.S. consumers are the most optimistic about the economy that they have been since 2004…
The consumer sentiment index, a survey of consumers by The University of Michigan, rose to 101.1 in October, far ahead of the 95 economists polled by Reuters anticipated.
“Consumer sentiment surged in early October, reaching its highest level since the start of 2004,” Richard Curtin, chief econ..
Authored by Andy Xie via The South China Morning Post,
Central banks continue to focus on consumption inflation, not asset inflation, in their decisions. Their attitude has supported one bubble after another. These bubbles have led to rising inequality and made mass consumer inflation less likely.
Since the 2008 financial crisis, asset inflation has fully recovered, and then some. The US household net worth is 34 per cent above the peak in 2007, versus 30 per cent for nominal GDP. China’s property value may have surpassed the total in the rest of the world combined. The world is stuck in a vicious cycle of asset bubbles, low consumer inflation, stagnant productivity and low wage growth.
The US Federal Reserve has indicated that it will begin to unwind its QE (quantitative easing) assets this month and raise the interest rate by another 25 basis points to 1.5 per cent. China has been clipping the debt wings of grey rhinos and pouring cold water on property speculation. They are..
Amazon has reportedly suspended Roy Price, its point man in Hollywood and the head of its ambitious video program, according to ReCode.
HollywoodReporter reports that in the wake of revelations about Harvey Weinstein’s alleged years-long sexual harassment and assault, a producer of one of Amazon Studios’ highest-profile TV shows is ready to talk about her “shocking and surreal” experience with Amazon’s programming chief.
“You will love my dick,” Price allegedly said to Isa Hackett, a producer on 'The Man in the High Castle,' who details a July 2015 incident at Comic-Con in San Diego.
On the evening of July 10, 2015, after a long day of promoting Man in the High Castle at Comic-Con in San Diego, Hackett attended a dinner with the show's cast and Amazon staff at the U.S. Grant Hotel. There she says she met Price for the first time. He asked her to attend an Amazon staff party later that night at the W Hotel (now the Renaissance) and she ended up in a taxi with Price a..
In an interview on CNBC on Oct. 11, economist Carl Weinberg told the business network that China is going to compel Saudi Arabia to sell them their oil in the Yuan currency, which will have a serious consequence to the dollar and the Petrodollar system.
Beijing is likely to “compel” Saudi Arabia to sell crude oil in yuan, and others will follow, according to the chief economist and managing director at High Frequency Economics Carl Weinberg. This will hit the US dollar, he says. In an interview with CNBC Weinberg said China has become a key player in the oil market since overtaking the US to become the world's largest importer. Saudi Arabia has “to pay attention to this because even as much as one or two years from now, Chinese demand will dwarf US demand,”Weinberg told the media.
“I believe that yuan pricing of oil is coming and as soon as the Saudis move to accept it — as the Chinese will compel them to do — then the rest of the oil market will move along with them,” he added. A..
Bank stock prices are a primary indicator of how the economy is performing. Before the 2008 crisis, bank share prices started to decrease. An indication of an improving economy, is an increase in these bank share prices. More credit given out to companies and individuals, resulting in credit growth, which in turn indicates economic growth. […]