Markets & Industries
Oxford Institute for Energy Studies: Oil market will shrink by the end of the oil era - 01/24/2018
The spread of electric vehicles in the world will lead to the fact that oil producers will share a much smaller market. At the same time, the OPEC and Russia will have to rebuild the economy, fight for markets and reduce oil prices, says Peak Oil Demand and Long-Run Oil Prices, a report of the Oxford Institute for Energy Studies. Spencer Dale, chief economist for BP oil company, and Bassam...
ECA International: Rent in London is the most expensive in Europe - 01/24/2018
London turned out to be the most expensive European city for renting a standard family three-room house of the middle class. However, rent here is three times higher than in other cities in the UK, as evidenced by recent research. So, a house in the UK capital will cost an average of £ 5,398 per month, which is £ 3,693 more expensive than the average monthly rent in Europe. As for the other big...
EY: 10% of funds raised at ICOs are stolen - 01/23/2018
10% of the funds raised in the initial placement of tokens (ICO) are either stolen or lost as a result of hacker attacks, Reuters reports citing Ernst & Young (EY). The company analysed around 380 ICOs and discovered that about $ 400 mln of the attracted $ 3.7 bln were stolen. The most widely used hacking technique for ICO was phishing. Hackers steal nearly $ 1.5 million in proceeds from...
Investors are buying up precious metal while the US government is paralyzed - 01/23/2018
Partially stopped work of the government and all US public services is forcing investors to increase the share of protective assets in their portfolios. The total assets of exchange gold funds reached 2,250 tons, and this is the highest value since May 2013. The demand of institutional investors, as well as the weakening of the dollar, support the growth of gold quotations. The assets of exchange...
Data on bad debts in China looks doubtful again - 01/22/2018
Data on bad debts in China, which analysts and investors have long considered to be underestimated, once again tuned put to be doubtful after the bank regulator disclosed false reporting of a local lender, reports Bloomberg. The Banking Regulatory Commission of China (CBRC) said that the Shanghai Pudong Development Bank Co., the country's ninth largest lender, located in Chengdu (a city in the...
China is hunting for bitcoin miners - 01/19/2018
China intends to put an end to mining of bitcoins in the country due to concerns about excessive electricity consumption and financial risks. A specific working group obliged authorities of the country's provinces to promote stopping of mining by local companies, said the document. Earlier, China has already closed local bitcoins exchanges and has forbidden companies to conduct initial placement...
Can the economy work on green energy? - 01/19/2018
The New York Journal told about "imminent consequences" of global warming for the planet. Its article begins with an ominous phrase: "Everything will be much worse than you think." According to the American publication’s forecast, the temperature in New York will be higher than in today's Bahrain, an unprecedented drought will cover the main agricultural regions, permafrost will cover Siberia,...
Orders for machinery in Japan unexpectedly rose - 01/17/2018
Basic orders for machinery and equipment in Japan unexpectedly rose in November due to demand from the non-manufacturing sector of the country. This data means growth of capital investments, writes Bloomberg. Basic orders in mechanical engineering in November rose by 5.7% compared with the previous month, the Cabinet of Japan said on Wednesday. Analysts on average forecast a decrease of 1.4%....
Americans are choosing trailer parks over convenient housing - 01/17/2018
The growing gap in availability of housing in the United States has forced some people to reconsider the approach to the traditional arrangement of a home for family. Trailer parks aren't the best choice. Well, what about "communities of owners of houses on wheels"? Demographic changes imply different lifestyle. What was once an undesirable phenomenon is now turning into new energy-efficient...
Bloomberg: Pound Sterling is vulnerable to Brexit claims - 01/15/2018
The rally of the pound sterling, caused by hopes for the "soft" Brexit, may be threatened this week due to increased sensitivity to the comments of the leaders of the EU countries on the prospects of such a deal, writes Bloomberg. The pound sterling has strengthened to its maximum since the referendum on Brexit on Friday, when there were signs that some countries want to conclude a Brexit deal...