Flavio Belloli

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Would a universal basic income fix US economic inequality? One group is spending $10 million to find out

Universal basic income (UBI) is either a miracle cure for ailing capitalist economies or a dead end for a doomed, under-employed underclass. Nobody really knows which is true because UBI has never been fully studied. Now, one of the most ambitious efforts so far is about to spend millions to find …

Income Inequality

UniCredit to test confidence in Italian banks with huge cash call | Reuters

MILAN (Reuters) - Italy’s largest lender, UniCredit, is set to announce next week the country’s biggest bank share issue, worth up to 13 billion euros ($13.8 billion), in what would be a major test of confidence in Italy’s wider banking system, sources said.<p>Unicredit bank logo is seen on a banner …

Investing

Italian banks after the referendum

THE first casualty was Matteo Renzi’s hold on office. As he had promised, Italy’s prime minister resigned on December 7th, three days after voters …

European Central Bank

ECB unexpectedly cuts asset buys to 60 billion euros per month from April

FRANKFURT (Reuters) - The European Central Bank trimmed back its asset buys in a surprise move on Thursday but promised protracted stimulus to aid a still fragile recovery, and dismissed any talk of tapering the program away.<p>With still no sign of a sustained rebound in underlying inflation and …

Economics

China's Credit Binge Has Driven Its Banks to Hide $2 Trillion in Loans

China’s banks are masking loans as investments through an accounting trick to the tune of $2 trillion, or about 20% of their existing loan portfolio, …

ECB extends bond-buying scheme but at slower pace

<b>The European Central Bank has said it will extend its bond-buying programme until at least December 2017, but cut its purchases by €20bn a month.</b><p>The €80bn-a-month quantitative easing scheme had been due to end in March, although the bank had been expected to extend it for at least six months.<p>In a …

Economics

The Increasingly Unpredictable Politics Of Money

Since the ECB began the Public Sector Purchase Program (QE) in the middle of March 2015, it has purchased (through the end of November 2016) almost …

Bernie Sanders

Carney warns about popular disillusion with capitalism

<b>Bank of England Governor Mark Carney has warned that people will reject free and open markets unless something is done to help those left behind by the financial crisis and globalisation.</b><p>In a speech, he said: "Globalisation is associated with low wages, insecure employment, stateless corporations …

Economics

Britain to reverse Brexit: Saxo Bank makes its outrageous predictions for 2017

Britain could remain in the EU, Italy’s banking shares could be the investment success of 2017, and the Mexican peso could defy Donald Trump to soar - at least, according to a set of wacky forecasts from Saxo Bank.<p>Saxo’s self-confessed “outrageous predictions” are not necessarily events that it …

Investing

A Short History Of The Most Important Economic Theory In Tech

Twenty years ago, W. Brian Arthur popularized a concept that forever changed Silicon Valley—with a little help from Cormac McCarthy.<p>This summer marked the 20th anniversary of one of the <i>Harvard Business Review</i>’s most influential articles ever, “Increasing Returns and the New World of Business,” by …

India's central bank says cash crisis is hurting the economy

The Reserve Bank of India acknowledged Wednesday that the country's ongoing cash crunch is hurting the economy.<p>The central bank slashed its growth forecast for the current financial year by half a percentage point, citing "uncertainty" resulting from Prime Minister Narendra Modi's shock decision to …

India