Stifanus Sulistyo

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NAPIER: Investors have been 'royally gamed by the financial system'

That's the view of financial historian and strategist Russell Napier, who thinks that the failure of central banks to reflate the global financial system will lead to stronger and more significant government action.<p>Napier is the co-founder of online research platform ERIC and the author of Anatomy …

Investing

'They're desperate. It's a global bubble. And the markets believe they'll do anything to keep it going'

That means we are in for a bigger crash and deeper dislocation when it all comes to an end and the man who has made a career out of being the first to correctly call market bubbles has a good idea which will be the first central bank to crack.<p>Doug Noland of McAlvany Wealth Management has a long …

Bank of Japan

China's Biggest Banks Have Written Off $40 Billion in Bad Debt This Year

There appears to be no light at the end of the tunnel of China’s mounting debt problem, as the country’s five biggest banks reported a combined loss …

China

DuPont's Former CEO Just Took a Major Swipe at Dow Chemical Deal

<i>Update: 10/19/16 10:00 A.M.</i><p>Ellen Kullman is sticking to her guns, even if they have been holstered.<p>The former CEO of DuPont (dd) hinted that she …

DuPont

People who felt marginalised drove Brexit vote, study finds

Joseph Rowntree Foundation research shows EU referendum was deeply divided on economic, educational and social lines<p>People who felt that they had been pushed to the margins of society, on low incomes and living in low-skilled areas, were the driving force behind Brexit, according to research from …

Income Inequality

Students can use the dark web to cheat their way through school

Today, students are hiring hackers on the darknet to attack their school servers with a Distributed Denial of Service. Kids these days.<p>"In the new digital era, students are looking to cheat the system just like those of the past," Daniel Smith, a security researcher at the cybersecurity company …

Cybersecurity

Tugrik the world's worst-performing currency

Ever heard of the tugrik? It's Mongolia's national currency and right now the world's worst-performing one. The tugrik is under enormous pressure as …

Commodities

'Auction' of NSA tools sends security companies scrambling

PARIS (AP) — The leak of what purports to be a National Security Agency hacking tool kit has set the information security world atwitter — and sent major companies rushing to update their defenses.<p>Experts across the world are still examining what amount to electronic lock picks. Here's what they've …

Security

Uncovering the brutal truth about the British empire

The Harvard historian Caroline Elkins stirred controversy with her work on the crushing of the Mau Mau uprising. But it laid the ground for a legal case that has transformed our view of Britain’s past<p>Help us sue the British government for torture. That was the request Caroline Elkins, a Harvard …

World History

Berkeley rare wine store owner pleads guilty in Ponzi scheme

The owner of a high-end Berkeley wine shop pleaded guilty to bilking customers out of at least $45 million in what one prosecutor described as a "wine Ponzi scheme."<p>John Fox, 66, admitted masterminding a "massive scheme to defraud" through his store Premier Cru — taking millions from vino lovers …

Lyft CEO Logan Green has a plan that's far bigger than ride-hailing

Logan Green applied for his first job out of college by submitting a resume and a document titled “Logan’s Life Plan.”<p>It was a grandiose heading, especially for a 22-year-old angling for what was a junior role as sustainability coordinator at UC Santa Barbara. But the plan itself was more wonkish …

China reports weaker July activity but says economy stable

BEIJING (AP) — Chinese factory output and other economic activity weakened in July, data showed Friday, but an official tried to reassure companies and investors growth is stable.<p>Growth in retail sales, factory output and investment all decelerated from June levels, according to the National Bureau …

Economy

Modest euro zone economic growth masks diverging performance around bloc | Reuters

LONDON (Reuters) - Euro zone economic growth halved in the second quarter to a modest pace, as a mild slowdown in Germany was overshadowed by a surprise stagnation in Italy, offering scant hope of a decisive rebound for the currency bloc as a whole any time soon.<p>Euro coins are seen in front of …

Economy

Made In China: A Look Inside The Life Of A Factory Worker

Meet the people that make our clothing, from our friends at Remake<p><i>Remake is building a conscious shopper movement, unmasking the humans who make our clothes through video stories and providing readers with sustainable fashion alternatives to current trends through style guides and their Instagram.</i> …

Made in China

Melker Schorling, Sweden's Quiet Tycoon With the Midas Touch

Business tycoon Melker Schorling, one of Sweden’s most prominent investors, says he is well-positioned to expand his 60 billion crown ($7 billion) …

Bernie Sanders

Real-Life Drug Kingpin Wants Netflix to Pay Him $1 Billion for 'Narcos'

The Netflix crime thriller <i>Narcos</i>, which chronicles the life of former Colombian drug lord Pablo Escobar, has proven so popular that Netflix is airing …

Mexico

U.S. Appeals Court Rules in Favor of FCC Net Neutrality Rules

A U.S. appeals court yesterday upheld landmark federal rules preventing internet service providers from obstructing or slowing down consumer access to web content (via <i>Reuters</i>).<p>The backing for the Federal Communications Commission's net neutrality rules came in a 2-1 decision by a three-judge panel …

How A Tiny Staging Company Built A $100 Million Business

ASH doesn’t want to leave its stamp around the world–just on projects where it can leave a lasting impression.<p>A few years ago, you might have caught Ari Heckman and Jonathan Minkoff–cofounders of the New York–based design company ASH–loading up a station wagon with flea market finds to “stage” …

Real Estate

Maps have ‘north’ at the top, but it could’ve been different

Why are almost all modern maps the same way up? Caroline Williams explores the intriguing history that led to this orientation – and discovers why it shapes how we see the world in more ways than we realise.<p>Imagine looking at the Earth from space. What is at the top of the planet? If you said the …

Imperial College London

Zuckerberg's stare 'borders on the psychopathic,' says ex-Facebooker

Technically Incorrect: A new book by a former Facebook employee makes working at Facebook sound not unlike being a Scientologist. It also says Zuckerberg was intent on destroying Google Plus.<p><i>Technically Incorrect offers a slightly twisted take on the tech that's taken over our lives.</i><p>I've never been …

Silicon Valley

Foxconn replaces 60,000 human workers with robots

According to reports, the world's largest electronics manufacturer Foxconn has replaced around 60,000 human factory workers with machines. Or, as a government publicist for the city of Kunshan told the <i>South China Morning Post</i>, the factory "reduced employee strength from 110,000 to 50,000 thanks to …

Foxconn

Harvard Scientist Engineers Bacterium That Inhales CO2, Produces Energy -- A 'Bionic Leaf'

The chemist who gave us the artificial leaf has genetically engineered bacteria to absorb hydrogen and carbon dioxide and convert them into alcohol fuel.<p>When Harvard Professor of Energy Daniel G. Nocera announced he was working with bacteria last year, other scientists cautioned it would be …

University of Chicago

A former Goldman Sachs chairman has some apocalyptic predictions about the economic impact of superbugs

O'Neill is most famous for another prediction—that by 2050, the combined economies of Brazil, Russia, India, and China (BRIC), would eclipse those of the world's current richest countries. A former chairman of Goldman Sachs with no scientific training, he was an unorthodox choice to lead an …

Microbiology

Google's Allo runs on the same encryption tech that powers WhatsApp

Earlier today at the I/O conference, Google announced a new chat app called Allo, complete with an "incognito" mode that boasts full end-to-end encryption. But the technology powering that encryption is more familiar than many Google fans may realize.<p>After the new app was announced, Open Whisper …

Privacy

Steven Chu: Mexico's Energy Auction Reveals True Price Of U.S. Renewables

If you want to know the true price of renewable energy in America—free from subsidies and mandates—look to Mexico, former Energy Secretary Steven Chu said Friday.<p>In March, Mexico’s state utility, Comisión Federal de Electricidad (CFE), departed from almost 80 years of state-owned monopoly and let …

Renewable Energy

Saudi military leaders replaced amid stalemated war in Yemen

DUBAI, United Arab Emirates (AP) -- Saudi Arabia replaced its military chief of staff and other defense officials early on Tuesday morning in a shake-up apparently aimed at overhauling its Defense Ministry during the stalemated and ruinous war in Yemen.<p>The kingdom also announced a new female deputy …

Why Equity Crowdfunding Could Be Dangerous for Investors and Entrepreneurs

In the very near future, equity crowdfunding will no longer be reserved for the ultra-wealthy.<p>That’s thanks to the Securities and Exchange Commission …

Venture Capital

INVESTOR: Hedge funds are facing their own Uber moment

While the first problem may be a function of short-term market troubles, the second problem may be the result of a structural shift, according to some investors.<p>"You've seem some of the California pensions, some New York pensions, and even today MetLife said they are walking out of a $1.8 billion …

Investing

David Einhorn Says Wall Street Is Wrong About GM and Uber

Nearly two decades after trading his hedge fund’s first stock, Greenlight Capital founder David Einhorn has set his sights on some of the biggest …

Markets