50 years of tax cuts for the rich failed to trickle down, economics study says - CBS News (www.cbsnews.com)
"It is fair to say that we don’t believe these numbers:" Doubts mount over China’s steel, GDP data (www.afr.com)
Cross-posted from: beehaw.org/post/11211601...
For all that is holy, DO NOT use TurboTax!!
I haven’t used TurboTax recently, but I just received a check from my state’s government saying that they’ve settled with Intuit over charging customers tax return services that should have been free....
China's Evergrande files for bankruptcy | CNN (www.cnn.com)
Fed launches long-awaited instant payments service, modernizing system (www.reuters.com)
Looks like the US is finally catching up to the rest of the world for transferring money
China’s largest payments app debuts AI feature that checks if you’re balding (cointelegraph.com)
Archived link...
The unexpected origins of a modern finance tool (www.sciencedaily.com)
In the early 1600s, the officials running Durham Cathedral, in England, had serious financial problems. Soaring prices had raised expenses. Most cathedral income came from renting land to tenant farmers, who had long leases so officials could not easily raise the rent. Instead, church leaders started charging periodic fees, but...
Chinese who lost money in bank fraud detained for months after protest (www.reuters.com)
When Ou Yangyun travelled to the Chinese city of Zhengzhou in February to demand recompense after his bank account containing tens of thousands of dollars was frozen, his family expected him to be home two days later to celebrate the Lunar New Year with his five-year-old twins....
Euro-Area Finance Chiefs Back G-7 push to provide loans to Ukraine using windfall profits generated from frozen Russian central bank assets as collateral (www.bloomberg.com)
Euro-area finance ministers gave political backing Wednesday to an effort by Group of Seven nations to provide loans to Ukraine using windfall profits generated from immobilized Russian central bank assets....
Is It Better to Rent or Buy? A Financial Calculator. (www.nytimes.com)
These sliders are immensely helpful with quick estimates!
Visa Adds New Way to Share Customer Shopping Data With Retailers (www.bloomberg.com)
- Consumers’ preferences to be shared via proprietary tokens***- Firm competing with fintech newcomers, fellow giant Mastercard******- The payments company also is aiming to make it easier for consumers to make purchases by a facial recognition-triggered click-to-pay experience***...
Russian firms pivot to crypto In global trade with their Chinese counterparts as sanctions take a hit (stage-www.mitrade.com)
- Russian metal producers have primarily adopted blockchain-based alternatives to conventional payment systems to maintain their trading operations...
Ivan Boesky, Convicted of Insider Trading in 1980s, Dies at 87 (www.bloomberg.com)
The financier symbolized high-flying 1980s Wall Street speculation. 'Greed is healthy,’ he once declared at a college commencement....
Reports on China’s Bad Lending Data Disappear on Chinese Social Media (www.bloomberg.com)
- Total credit demand in China fell in April for first time since 2005*- China has increasingly hidden negative data in recent years*...
Collapsed cryptocurrency exchange FTX says it has billions of dollars more than it needs to repay customers (www.bbc.com)
The firm says that once it has sold off its remaining assets it will have as much as $16.3bn to cover the debts, which stand at around $11bn....
U.S. banks hold trillions of dollars off-balance sheet, in a replay of accounting hubris that led to the 2008 Wall Street collapse (wallstreetonparade.com)
Archived link...
China’s biggest chipmaker SMIC warns of ‘fierce’ competition as it misses quarterly profit expectations (www.cnbc.com)
SMIC, China’s biggest contract chip manufacturer, is seen as critical to Beijing’s ambitions of cutting foreign reliance in its domestic semiconductor industry as the U.S. continues to curb China’s tech power. SMIC lags behind Taiwan’s TSMC and South Korea’s Samsung Electronics, according to analysts....
LocalMonero / AgoraDesk will be winding down it's operations (localmonero.co)
Archived version...
China’s property crisis leaves trail of ghost cities in Malaysia and Cambodia (www.dailymirror.lk)
Reports say that round 20 percent of China’s urban housing properties, roughly 65 million units, sit vacant. These “ghost cities” such as Tiandu Cheng, Thames Town, and Binhai sprawl across hundreds of square kilometers, boasting infrastructure, skyscrapers, and public spaces but are significantly underpopulated, with vast...
China’s property sector was riding for a fall over high concentration creating 'oligarchic market', study says (www.globalconstructionreview.com)
Here is the study: www.tandfonline.com/doi/…/02673037.2024.2334797...
China's New Homes Market Is In A State Of Freefall (www.benzinga.com)
Archived version...
How the US Is Destroying Young People’s Future | Scott Galloway | TED (www.youtube.com)
Estonia creating state-backed fund to directly invest into the equity of companies developing defense technologies (news.err.ee)
Cross posted from: feddit.de/post/11697931...
The business of wallets (www.bitsaboutmoney.com)
Migrants hit by high fees to send money home (www.bbc.com)
One target of the UN Sustainable Development Goals is that by 2030, remittance fees should be less than 3%, and total fees to send and receive money between a pair of countries should be no more than 5%. Some researchers believe that to be truly affordable, the first goal should be even less than 3%....
