Shahryar Ghazanfar

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The Swiss central bank lost an enormous amount of money on its gold holdings last year

The Swiss national bank is not like most other central banks. For one thing, it is listed on the stock market. Thus, it is obliged to keep shareholders informed of important events that could impact its financial health.<p>Today the bank issued the equivalent of a profit warning (pdf), saying that it …

Economics

By dissing smart watches, luxury watchmakers are acting really really dumb

Almost exactly a year ago, my Kickstarter edition Pebble smart watch arrived. I had ponied up the cash the first week that the founders posted the product on the crowd-funding website.<p>Already the Pebble has become my primary time-keeping device. This comes as a surprise. I like to think of myself …

China and Russia seem genuinely close to a game-changing natural gas deal

For nearly a decade, Moscow and Beijing have talked up the virtues of a pipeline to ship plentiful Russian natural gas into China’s voracious energy market. But the talks have gone on so long, with so many forecasts of an imminent breakthrough, that they have become a bit of a running joke.<p>Now, …

Ashmore becomes first Western firm to win China investment licence

British fund manger is the first Western company to be awarded licence under China's carefully managed programme to open up its capital markets to outside investors<p>British investment fund manager Ashmore has become the first Western company to be granted a licence to invest directly into China’s …

JPMorgan To Pay $1.7 Billion To Madoff Fraud Victims

NEW YORK (Reuters) - JPMorgan Chase & Co will pay a $1.7 billion penalty to settle charges by U.S. federal authorities that the bank failed to report suspicious activity relating to Bernard Madoff's Ponzi scheme.<p>The bank had violated laws requiring that it monitor customer activity for money …