Charles Tetreault

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World poverty rate to fall below 10% for the first time

Good news! The world is better off.<p>For the first time ever, the number of people living in extreme poverty is set to fall to below 10% of the global population in 2015, the World Bank said.<p>"This is the best story in the world today -- these projections show us that we are the first generation in …

World Economy

Hot money is pouring out of emerging markets

The IIF warned this week that hot money is pouring out of emerging markets at a startling rate, primarily on the back of China's crunching slowdown and rising fears of a looming US rate hike.<p>Before we go any further, here's a caveat: The IIF is a prestigious "club of global banks." After the Club …

Canada's oil-price collapse is a lot like 1985-86

Parallels with 1985-86<p>The current price collapse has significant parallels with that of 1985-86<br>(see Chart 1). In terms of the magnitude of the collapse, from peak to trough, prices fell by 59% in 1985-86 and by 56% in 2014-15. Both periods featured similar causes:<p>A rapid and significant increase in …

Labour conference: Economists Piketty and Stiglitz to advise Corbyn

<b>A Nobel Prize winner and a best-selling author are among the economists Jeremy Corbyn has selected to advise him.</b><p>Joseph Stiglitz and Capital in the 21st Century author Thomas Piketty will develop ideas for the Labour leader and shadow chancellor John McDonnell.<p>The advisory panel also include former …

Shell's Arctic oil search ends in failure with dry Alaskan well

Anglo Dutch company forced to suspend Alaskan oil search after exploration well finds little oil in the Chukchi Sea<p>Royal Dutch Shell has been forced to abandon its search for oil in the Arctic waters off Alaska after its explotaion well tests found little resources in the area.<p>The company has said …

Economic data this week to reflect impact of market turmoil

While earnings season doesn’t kick into full gear until mid-October, next week will give investors a wealth of economic data covering the period …

Et Tu , Janet Yellen?

Barely a week after Fed Chair Janet Yellen cheered her many admirers by fending off pressures to raise interest rates in a weak recovery, Yellen reversed course. In a long, dense, technical lecture at the University of Massachusetts at Amherst on Thursday, Yellen concluded by indicating that the …

Labour to 'redistribute wealth' with middle class tax raids

The shadow chancellor, will set out an economic plan that will include an income tax hike, scrapping the Conservative inheritance tax reforms<p>Labour will unveil plans for the “redistribution of wealth” in the UK with a series of tax raids on the middle classes and a renewed attack on British …

Douglas Todd: Thousands of Metro Vancouver mansion owners avoiding taxes

Print<p>Related<p>Who will pay the taxes for universities, health care and rapid transit if residents of some of Metro Vancouver’s exclusive neighbourhoods …

RELATED TOPICS

A Corbynista’s guide to the Labour conference

Which events should you be attending?<p>It has not always been a recipe for advancement in the Labour party, but dropping in on an event being hosted by Sinn Féin at 6pm could be a smart move for the ambitious Corbynista. Before becoming leader, Corbyn had agreed to speak on the theme of “Good Friday …

North London

Banksy's Dismaland theme park brings $30M boost to depressed UK town

An anarchic amusement park by street artist Banksy that mocked capitalism and consumer culture has brought an economic boom to a faded British seaside town.<p>Banksy's Dismaland "bemusement park" transformed a derelict outdoor swimming pool in Weston-Super-Mare into a macabre parody of a theme park, …

Streetwear

Gold "Tightness": When There's No More To Sell, There's No More To Buy (At Any Price)

<i>Submitted by Chris Martenson via PeakProsperity.com,</i>One of our long-running themes here is that the <b>truly historic and massive flows of gold from West</b> …

GOLDMAN SACHS: This is how to fix China

That's the word from four Goldman Sachs executives who weighed in on China's lagging economic growth in a video published by the banking giant.<p>The four execs, including CEO Lloyd Blankfein, said that China needs to transform into a capitalist and consumer-driven economy — but it's going to be a …

Another Bubble Is Back - Commerical Real Estate Index Up 95% From Post-Crash Levels

“There is nothing inherently dangerous about a real estate cycle,” ratings agency Fitch explained in its latest report. “It only becomes dangerous …

BAML: The Fed is helping so much it hurts

When the Fed ended its massive bond-buying program (or "QE3" quantitative easing) last October, the path looked clear for eventual interest-rate increases.<p>But because of stubbornly low inflation and concerns about global economic growth, the Fed has delayed raising rates, most recently last …

Your oversize orders are giving FedEx a big delivery headache

Consumers might delight in the ease of front-door delivery for a mattress, trampoline or gym equipment. FedEx, now handling an increasing number of these bulky shipments, has mixed feelings.<p>As more online shoppers snap up the type of hefty items once brought home in a pickup truck or on a car roof, …

The housing boom has not peaked

The same people who failed to predict the great Australian housing boom of 2013 to 2015, who dismissed the possibility of a bubble emerging, and who …

Hydrox cookies are set to make a comeback, could challenge rival Oreos

As a child, the only sandwich cookie in Ellia Kassoff's home was Hydrox. Not Oreos. Hydrox.<p>Decades later, the entrepreneur is resurrecting the product he used to love.<p>After years of dormancy, Hydrox cream-filled chocolate sandwich cookies are coming back. The cookies, which predate Oreo, could …

The UK may not be a manufacturing powerhouse anymore, but here's why our economy can still thrive

We need nvestment in a highly skilled and educated workforce, a flexible labour market that supports job creation, and a business-friendly economic climate which encourages investment and growth<p>Recently, we have seen some negative news about the British manufacturing industry. Last week, the CBI …

Paul Krugman dismantles GOP candidates’ plans to rein in federal regulation of “demonic” corporations

“”I’m not claiming that all businesspeople are demons, just that some of them aren’t angels,” he wrote<p>In his column Friday, The New York Times' Paul Krugman lit into Republicans for calling for fewer regulations on big business in light some very prominent recent examples of how poorly corporations …

The previous commercial-real-estate bubble was 'much smaller' than today's monster

Fitch rates Commercial Mortgage Backed Securities, so it warned: "CMBS cannot afford a repeat of the 2008-2009 experience."<p>Commercial property prices in the US rose 1.1% in August from July, and 10.2% from a year ago, according to the Green Street Commercial Property Price Index. They have soared …

Loonie hits fresh 11-year low as China, Canada data spook traders

The Canadian dollar closed at 74.92 cents (U.S.), down 0.51 cents from Tuesday's close of 75.43 cents (U.S.). Earlier in the day, it tested a new 11-year low of 74.88 cents (U.S.).<p>Lower oil prices continue to be the biggest drag on the loonie. The weekly U.S. Energy Information Administration (IEA) …

RBA needs to cut official interest rate to 1.5pc, ANZ says

The Reserve Bank of Australia will need to cut the official cash rate to a record-low 1.5 per cent next year because the confidence boost from last …

Why China's Economic Problems May Be Worse Than We Think

China's authoritarian leaders must enact deep reforms, not just stimulus. It is not clear if they are willing to do that.<p>Chinese president Xi Jinping is leaving behind a struggling economy as he visits the United States this week. That is worrying leaders of other countries that do business with …

Opinion: How the Fed buried monetarism

LONDON (Project Syndicate) — The Federal Reserve’s decision to delay an increase in interest rates should have come as no surprise to anyone who has …

"The Government Is Literally Paying Itself" - Citi Calls For Money Paradrops

Last Friday, we posted what we thought was a watershed report by Australia's largest investment bank Macquarie, one which openly called for central …

China’s Planned City Bubble Is About to Pop—and Even You’ll Feel It

U.S. housing planners have long ignored the public’s desire for affordable single-family housing. Now the same thing is happening on a global scale, …

Malcolm Turnbull and Bill Shorten hold talks over China free trade deal

Malcolm Turnbull has had initial talks with Bill Shorten about the China-Australia free trade agreement (Chafta), raising hopes of a potential political compromise to secure the passage of associated legislation through the parliament.<p>Shorten, the Labor leader, said he had spoken to the new prime …

Australia

Mexico is Latin America's success story as Brazil stumbles

Latin America's power rankings are shifting this year and Mexico is emerging as a winner.<p>The Mexican economy isn't surging, but it's surviving -- and that's a success in a year of tough economic times for the region.<p>Low commodity prices, plunging currencies and a stock market sell off across …