By Egon von Greyerz, founder of Goldswitzerland.com (Matterhorn Asset Management AG) and member of the board of directors of Goldbroker.com. … Read more
Russia’s Ministry of Finance has unveiled a national budget in hopes to deal with expected gyrations in the international crude oil markets. … Read more
Britain will seek to sell 6.0 percent of its stake in bailed-out lender Lloyds Banking Group, state banking body UKFI said on Monday. UK Financial Investments (UKFI), which manages the government’s bank holdings, said in a statement that the stake in…
A recent study finds that those annoying minimum capital and leverage ratio requirements do actually reduce the risk incurred by big banks. … Read more
The leverage ratio of a bank is calculated by dividing its Tier 1 capital by its average total consolidated assets. Basel III introduced … Read more
U.K. household debt as a percentage of income has exploded and is still significantly higher than in the U.S., @edconwaysky points out. … Read more
Industrial production increased 0.4% in August after having been unchanged in July, the U.S. Federal Reserve reports. The gains in August were broadly based. … Read more
A gunman shot and wounded at least one person Monday in a headquarters building at the US Navy Yard in Washington and is still at large, the navy said. “There is one confirmed injury. Emergency personnel are on scene and a ‘shelter in place’ order has…
The general business conditions index from the New York Fed’s Empire State Manufacturing Survey was a reading of +6.29 in September. This is … Read more
Mining giant Anglo American said Monday it was pulling out of a copper mine project in Alaska and would pay a $300-million (225.7-million-euro) “impairment charge” to its US partner. Anglo American launched the Pebble Mine project in 2007 with US miner…
As was reported earlier today by the WSJ, Larry Summers has withdrawn his name from the running to succeed Ben Bernanke … Read more
Japan went nuclear-free on Monday as it switched off its last operating reactor for an inspection, with no date scheduled for a restart amid strong public hostility to atomic power. Kansai Electric Power took offline the No. 4 reactor at its Oi nuclear…
Former US treasury secretary Larry Summers has withdrawn from the race to succeed Ben Bernanke at the Federal Reserve, the Wall Street Journal reported Sunday. The newspaper cited a letter from Summers to President Barack Obama in which he cited the…
Some 15,000 Romanians protested Sunday for the 15th straight day against a Canadian company’s plans to open Europe’s largest gold mine in the heart of Transylvania. Canadian firm Gabriel Resources hopes to extract 300 tonnes of gold in Rosia Montana…
At least two Swiss banks are now asking French clients for proof they are not dodging tax, a newspaper said Sunday, as France and other countries step up the fight against tax evasion. The daily Le Parisien reported that both UBS and Credit Suisse were…