Toey S.

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The Fed grabs the mic during a stacked week in the economy — Here's your complete preview

She speaks to the Senate banking committee on Tuesday and the House Financial Services Committee on Wednesday.<p>"She will want to preserve policy flexibility, keeping the prospect of a mid-year rate hike very much on the table," Credit Suisse economists said. "Yellen may come across as sounding …

China's property problems weighs on growth

<b>Most people won't have heard of the Chinese property developer Kaisa Group.</b><p>But as China's economy logs it slowest growth in more than two decades, the company's troubles underline the country's wider problems.<p>Kaisa Group, based in the sprawling industrial city of Shenzhen, missed a debt payment of …

Economy

2015: The global economy's 'sink or swim' moment

Let's be blunt: The central banks have done all they can, and now it's 'sink or swim' time for the global economy.<p>This week the European Central Bank unveiled a massive stimulus program -- worth $1.3 trillion -- to lift the region out of its economic malaise.<p>It was the latest in a long line of …

The US Economy Continues To Look Stronger And Stronger

There's nothing wrong with using a little borrowed money to finance purchases. For businesses, financing with debt is cheaper than financing with equity.<p>One of the things that's dragged on the economic recovery has been the deleveraging of consumer and business balance sheets. Specifically, …

New York City condo sells for record $100,471,452.77

It just got a lot harder to keep up with the Joneses in Manhattan's "Billionaire's Row."<p>A record-breaking $100 million luxury residence was purchased on Dec.23.<p>The buyer, whose identity has not been revealed, dished out more than $100 million ($100,471,452.77 to be exact) for a two-level duplex …

'Designer babies' debate should start, scientists say

<b>Rapid progress in genetics is making "designer babies" more likely and society needs to be prepared, leading scientists have told the BBC.</b><p>Dr Tony Perry, a pioneer in cloning, has announced precise DNA editing at the moment of conception in mice.<p>He said huge advances in the past two years meant …

Genetics

Uber CEO Reveals Mind-Boggling New Statistic That Skeptics Will Hate

One of the most commonly invoked takedowns of the ever-increasing and mind-blowing valuation levels the company has achieved — $40 billion at last count— is this:<p>"Investors are valuing Uber as if it's bigger than the whole taxi market!"<p>The implication?<p>Investors are nuts.<p>Well, investors are indeed …

San Francisco

How We Know Russia's Economic Crisis Has Officially Arrived

Judging by the lack of economic news in Russia's media, a crisis has arrived.<p>Just as in Soviet days, state television does not report facts, it conceals them. The official picture is dominated by the war in Ukraine (fuelled by America), Ukraine's economic collapse (ignored by America), and Russia's …

Autonomous Cars Are Closer Than You Think

“In the next five years, you’ll see somebody introduce autonomous vehicles,” Ford CEO Mark Fields said at a small dinner for press and analysts during CES. He was quick to qualify that statement (only in very defined areas, during good weather, etc.), but that’s one of the few statements that stuck …

Autonomous Cars

Apple pulls out of Crimea as part of U.S. sanctions against Russia

In a curious example of international geopolitics influencing the App Store, developers who have registered iTunes accounts in the Crimea are being told to stop using all Apple software, and destroy any materials related to it. Why? It all has to do with the United States imposing sanctions against …

Russia

Samsung hires designer from Jony Ive's old firm to overhaul its products

Samsung is turning a new design leaf lately, eschewing plastic on its flagship phones for the premium feel of metal — but the overhaul is going far beyond a single choice in materials. <i>The Korea Herald</i> reports that Samsung has just installed a new global design chief in recent days: 47-year-old Lee …

Jony Ive

Debt woes back in focus as Greece votes on new economic path

This time next week, Greece could be taking its first step out of the euro zone or preparing to engage the European Union in a nasty debt war, rattling sovereign bond investors throughout the world.<p>Such are the risks of a victory in the Jan. 25 election by the radical left Syriza party, led by …