Timothy Casey

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Fintech could be bigger than ATMs, PayPal, and Bitcoin combined

Fintech broke onto the scene as a disruptive force following the 2008 crisis, but the industry's influence on the broader financial services system is changing.<p>The fintech industry no longer stands clearly apart from financial services proper, and is increasingly growing embedded in mainstream …

The job market isn't getting any better

Today we got what was called a "stellar jobs report": Non-farm payrolls rose 255,000 in July. In the other component of the report, the household survey showed that 420,000 new jobs were created. There are now a record 123.9 million full-time jobs. Government hiring was strong. Numerous sectors …

Demographics

A new wave of demand for gold could come from this unlikely source

Sharia law, which guides the personal and financial lives of many of the world's Muslims, has its origin in the Koran. Over the centuries, Sharia law has evolved under the guidance of Islamic scholars, in part to take into account evolving financial instruments.<p>Under Sharia law, paying or earning …

Religion

Fintech Ecosystem - Financial Technology Research & Business Opportunities

A Bitcoin ATM is seen inside a bookstore in Acharnai in northern AthensThomson Reuters<p>We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.<p>No firm is immune from the coming disruption and every …

Charles Schwab

'Angels' A Book By Russell James [NSFW]

Aussie born photographer Russell James’ images have defined sexy for Victoria’s Secret. He’s released his fifth book titled “Angels”, and recruited …

Anyone who wants to be president needs to understand these 5 maps

Maps shape how we see the world.<p>The world has less than 500,000 kilometers of borders.<p>By comparison, it has 64 million km of highways, 4 million km of railways, 2 million km of pipelines and more than 1 million km of Internet cables ­­all part of a rapidly expanding global infrastructural Matrix.<p>As …

Arab Spring

There's really only one dominant company in financial tech

There's a lot of hype around the new crop of financial tech companies aiming to disrupt how we save, invest, buy, and move money around.<p>But the company that kicked off the first financial tech revolution is still around, and it's much bigger than all the newcomers. PayPal was founded in 1998 and …

Spun

Elizabeth Warren Just Unleashed a Tweetstorm Against the Banks

There’s been no shortage of criticism aimed at Wall Street during the 2016 election cycle, but it’s been laid on especially thick this …

Glencore sells agri unit stake for $2.5 billion to Canadian pension fund

LONDON (Reuters) - Commodity miner and trader Glencore (GLEN.L) has agreed to sell 40 percent of its agricultural unit to Canada’s state pension fund for $2.5 billion, the company’s latest step to cut debt and soothe investor concerns about the impact of weak commodity prices.<p>The sale values the …

Business (Canada)

Microsoft axes chatbot that learned a little too much online

SAN FRANCISCO (AP) — OMG! Did you hear about the artificial intelligence program that Microsoft designed to chat like a teenage girl? It was totally yanked offline in less than a day, after it began spouting racist, sexist and otherwise offensive remarks.<p>Microsoft said it was all the fault of some …

Artificial Intelligence

Microsoft pulls robot after it tweets 'Hitler was right I hate the jews'

Microsoft put the brakes on its artificial intelligence tweeting robot after it posted several offensive comments, including “Hitler was right I hate …

Ride to the Bottom: U.S. energy workers hit hard by company stock bets

OKLAHOMA CITY (Reuters) - Nearly 15 years since Enron’s collapse decimated the retirement accounts of its employees, hundreds of thousands of U.S. energy workers remain precariously exposed to big, concentrated bets on company stock in their 401(k) retirement plans.<p>The slide in oil prices to their …

Retirement

The world is facing a pension disaster

A new report released by Citibank estimates that the total value of unfunded or underfunded government pension liabilities for 20 OECD countries stands at a staggering US$78 trillion.<p>That's US$78,000,000,000,000, unfunded, that's owed to public-sector workers. Putting that figure into perspective, …

Sustainability

The Tipping Point Of China's Authoritarian Capitalism

On Tuesday I had the chance to interview a former head of state who is well-placed to understand China. I started the interview with an admittedly leading statement. “I’m worried that China could someday, say over the next 50 years, overtake the United States and snuff out democracy globally.” He …

China

12 Ways Your Tax Dollars Were Squandered in Afghanistan

The United States has now spent more money reconstructing Afghanistan than it did rebuilding Europe at the end of World War II, according to a government watchdog.<p>The Special Inspector General for Afghanistan Reconstruction (SIGAR) said in a statement to Congress last week that when adjusted for …

Afghanistan

SCORECARD: These are the hedge funds that are killing it this year

It's been a terrible start to the year for hedge funds, with stock, bond and commodities markets all getting beat up.<p>The average hedge fund is down 3.85%, according to Hedge Fund Research. Many are already suffering double-digit losses. It follows a terrible 2015 when the average fund fell …

Investing

WATCH: You Can Make 'Wonder Material' Graphene in Your Own Home

Stronger than steel, harder than diamond, and one atom thick.<p>Three words: Graphene. is. awesome. Not only is it stronger than steel, harder than …

Here's a friendly reminder that the US is the biggest economy in the world

Via John Stoltzfus at Oppenheimer (emphasis ours):<p>Relative size counts when it comes to economic resiliency in challenging environments. The US is still the largest economy in the world at over $17.4 trillion in GDP. While China is the second-largest economy ranked as an individual country (at …

Markets

Hey Joe, Banks Can't Lend Out Reserves

I began another post critical of Joe Stiglitz’s analysis with the caveat that I like Joe. I’ll add to that that I respect his intellect too, both because he’s very bright—you don’t win a Nobel Prize (even in Economics!) without being <i>very</i> bright—and because compared to some other winners, he is very …

Keynesian Economics

The Federal Reserve is bracing for deflation for the first time since the 1930s

Deflation is a scary proposition for central bankers and investors alike, and the fact that the Fed is including it in this year's stress tests is both reassuring that the tests will be so thorough, but it's also a scary omen that Janet Yellen and Co. think deflation could be on the horizon.<p>The …

Economics

An Arab billionaire shares his explosive views on Obama, Iran, ISIS, and what falling oil prices will do to the Middle East

This is the second year in a row we spoke with this investor.<p>Last year, the investor agreed to answer our questions, but only if we redacted his name and only referred to him as an "Arab" investor and billionaire. We went with the same set up this year so we could get the most honest outlook on …

Markets

Stratfor has 11 chilling predictions for what the world will look like in 10 years

In 2015, private-intelligence firm Strategic Forecasting, or Stratfor, published its Decade Forecast, in which it projects the next 10 years of global political and economic developments. While international analysts often try their hand at predicting the major events of the coming year, Stratfor …

Geopolitics

Here are the powerful Mexican drug cartels that operate in the US

Virtually the entire US illicit-drug market is controlled by seven Mexican cartels, according to the US Drug Enforcement Administration's 2015 National Drug Threat Assessment Summary.<p>The DEA report notes that there are no organizations at this time with the infrastructure and power to challenge …

Mexico

Cristina by Rainer Suck[[MORE]]Elegant, sexy, a beautiful manage of lights and textures… Enjoy the second part of this fantastic series photographed by the brilliant beauty, fashion and commercial...

Elegant, sexy, a beautiful manage of lights and textures… Enjoy the second part of this fantastic series photographed by the brilliant beauty, …

Black & White Photography

PETER SCHIFF: We're going to have a serious recession and negative interest rates before the election

Peter Schiff begs to differ.<p>The CEO and chief global strategist for Euro Pacific Capital, and noted perma-bear, said that serious economic destruction is just a few months away.<p>"I think the Fed is going to have negative interest rates before the election because we're going to be in a serious …

Economics

Saudi Arabia, Shale & Iran: Everything You Need To Know About The Oil Crisis

In just 15 trading days, oil prices have managed to plunge another 20%, after a fall of 29% in 2015 and 44% in 2014. While markets took these drops in stride in the past few years, something seems different about the volatile plunge so far in 2016.<p>Why are oil prices so low? And why are the world’s …

Oil

Opinion: Raging bull sees S&P 500 at a record high by year-end

<i>(The following column was originally published Jan. 27. It has been republished without any changes to time references.)</i><p>Stocks’ bounce back from last …

It's been another tumultuous session for China's stock market

Fresh from plunging 6.4% on Tuesday, it's been another tumultuous session for Chinese stocks on Wednesday.<p>After tumbling more than 4% midway through the session, taking its losses over the past two sessions to more than 10%, the benchmark Shanghai Composite rocketed higher in late trade, eventually …

Stock Markets

Financial Stability Board Announces Industry-Led Task Force On Climate-Related Disclosure

It is time to stop pretending that hitherto different worlds for investors and markets are not coming together. They are, and they might just make for better business, and a safer world for everyone, including investors.<p>On December 4, 2015, Mark Carney, the governor of the Bank of England and chair …

Mark Carney

What is all the property in the world worth?

It's $217,000,000,000,000 - that's 12 zeroes<p>The total value of world real estate reached $217tn (£153tn) in 2015 – $217 million million – and is more than 12 times US GDP, or 21 times China’s GDP.<p>This figure measures the entire property universe, including commercial and residential property as …

Real Estate