Sunday, June 25, 2017

Blockchain Venture Capital Heats Up

Google Ventures Invests In Bitcoin Startup Blockchain

A bitcoin startup called Blockchain just raised $40 million from Google Ventures, billionaire Richard Branson and venture capital firms like Lakestar. Combined with earlier investments from the startup’s A round, Blockchain has raised around $70 million and become one of the best-funded cryptocurrency startups of 2017, behind power players like Ripple and Coinbase. The company claims…

Funny Side Effect Of The Qatari Controversy

Qatar Issue May Affect China's Soft Power as Biggest Property Buyer

China's soft power as the world's biggest property buyer is under severe strain due to a government crackdown on capital flight and the Qatar controversy, which is expected to drive a lot of Arab money into the property market in western countries. Qatar citizens are desperately looking for alternative investment avenues as Saudi Arabia and the…

Reigning In Profligate Spending Or Increasing Government Control?

China Probe of Big Companies Could Redefine Their Role Overseas

China is probing the loan practices of a group of big private sector conglomerates who have been on a high-profile global spending spree over the past few years. And although the review targets only a few of the country’s most politically-connected companies, some analysts see an attempt to increase government control over the role played by…

I Think People Are Just Unwinding Longs

Crude Oil Bounces Back Above $45 Per Barrel, Despite Glut

Crude oil thursday edged up from multi-month low, but prices remained under pressure from a supply glut that has persisted despite the efforts led by the Organisation of Petroleum Exporting Countries (OPEC) to balance the market. Brent crude futures were up 60 cents thursday at $45.42 per barrel, after falling as low as $44.53. They fell…

Yeah, Good Luck With That

Senate Democrats Urge Trump Administration To Block AT&T-Time Warner Merger

A group of senators urged the U.S. Department of Justice and the Trump administration Wednesday to block a proposed merger of telecommunications giant AT&T and content producer Time Warner. The group, led by Al Franken, D-Minn., sent a letter to the office of Attorney General Jeff Sessions advocating the Justice Department intervene on the $85.4 billion…

Saturday, June 24, 2017

Buying 10% Of United Won't Stop Saudi Arabia's Vendetta Against You

Qatar Airways wants to buy 10 percent stake in American Airlines

FORT WORTH, Texas — Qatar Airways wants to purchase a 10 percent stake in American Airlines, a move called "puzzling" by the Fort Worth-based airline's top executive and criticized by union leaders. In a memo to employees, CEO Doug Parker noted that American has repeatedly criticized the state-owned Persian Gulf airlines for violating trade agreements and…

Going The Way Of Kodak, Atari, and Pontiac

Sears announces 20 more closings

CHICAGO — Sears Holdings Corp. is closing 20 more stores. Those closings — including 18 Sears and two Kmart stores — follow 150 stores Sears shuttered in the first quarter of this year and another 66 expected to close by early September. The latest 20 are among the 235 locations Sears, headquartered outside Chicago, sold to…

"Submit Or Die"

Arab states 'issue list of demands' to end Qatar crisis

Saudi Arabia and other Arab countries that have cut ties to Qatar reportedly issued a list of demands to end the crisis, insisting that Qatar shuts down the Al Jazeera network and cuts back diplomatic ties with Iran. In the 13-point list, the countries also demand that Qatar sever all alleged ties with the Muslim Brotherhood…

Friday, June 23, 2017

It's Been Like This For Over A Year

Canada’s TSX Index Teeters at Major Support/Restistance

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After reaching all-time highs earlier this year, Canada’s TSX Index has dropped to around the 15,250 level, as shown on the following Monthly chart…an important long-term major support/resistance level.
The latest drop has been halted by a very high volume spike around the 200-day moving average, shown on the Daily chart below.
This index has, historically, been tied to the price of crude oil, as can be seen on the graph below, although it didn’t experience the same dramatic drop as oil did in 2014.

So, as I mentioned in my post of  June 21, if oil can regain and hold 43.50, and if the recent high-volume spike on the TSX was an indication of capitulation, we may see a rally ensue in both of these markets. Otherwise, weakness in one may drag the other down, as well…two charts worth watching in the short term.

Thursday, June 22, 2017

Yeah, I Guess You Buy-Low Sell-High

Chinese entrepreneurs tour UK, seeking value-for-money investments

A group of about 30 Chinese entrepreneurs are participating in a weeklong tour of the United Kingdom in search of value-for-money investment opportunities amid Brexit uncertainties. "We want to make good use of our trip to learn about how Brexit affects the UK's business environment, government policies, and investment restrictions," said Yang Xia, chairman of Hong…

Colonialism v2.0: The Russians Now Join China And Japan In Africa Scramble

Russia Keen to Invest in Zimbabwe

Russia has shown keen interest in investing in the country's industries with its private sector expected to visit the country to follow up on deals that were discussed on June 3 in St Petersburg.The latest interest came after the recent business visit to Russia by a high-powered delegation led by Vice-President Phelekezela Mphoko together with Industry…

There Is Absolutely No Way This Plan Can Fail

Mike Pence pledges 'largest tax cut' since Reagan 'this year'

Vice President Mike Pence said Tuesday the White House and congressional Republicans will oversee passage of the largest tax cut since the Reagan administration, and that they'll get it done in 2017. "We're going to pass the largest tax cut since the days of Ronald Reagan, and we're going to do it this year," Mr. Pence…

The African Industrial Lion Begins To Roar

Ethiopia Begins Manufacturing Vehicles' Motors

The Ethiopian Power Engineering Industry organized under the Metals and Engineering Corporation said it has begun manufacturing motors for vehicles used for automotive, construction and agricultural activities. Industry General Manager Major Assefa Yohannes told the daily Addis Zemen that the industry has begun manufacturing motors that would help modernize the agriculture thereby advancing the industrial development.…

Wednesday, June 21, 2017

Parity With The U.S. Dollar Here We Come

Sterling falls amid gloomy prospects for UK economy

British currency and stock markets fell on Tuesday after the governor of the Bank of England delivered a pessimistic speech about the prospects for the United Kingdom's economy as the nation prepares to leave the European Union. A twenty pounds banknote is seen in front of displayed stock graph in this picture illustration taken June 9,…

Tuesday, June 20, 2017

Not Bloody Likely (As Monocle Drops Into Tea)

China-Britain trade, financial cooperation to endure despite Brexit

LONDON — Britain's decision to leave the European Union (EU) will not be a handicap to collaboration between Britain and China in financial services and trade, according to James Sassoon, chairman of the China-Britain Business Council (CBBC). "Bilateral trade, (Britain's) exports to China and the Chinese investment in the UK have grown very strongly and I…

Monday, June 19, 2017

Colonialism v2.0: Chinese Advanced Part Sent To Kenya

Chinese delegation in Kenya to look for investment opportunities

NAIROBI — Representatives of Chinese companies from Shenzhen, one of the most innovative cities in China, are in Nairobi to meet local investors to discuss investment opportunities in energy, trade, finance and agriculture sectors, officials said Friday. The Chinese delegation,led by Lu Pengqi, the vice chairman of China Council for the Promotion of International Trade, and…

China Continues To Open Up

China eases 27 foreign investment restrictions in FTZs

Skyscrapers are seen at the Bund in Shanghai, June 6, 2017. [Photo/VCG] SHANGHAI — China Friday published an updated list of bans or restrictions for foreign investment in its free trade zones, cutting 27 restrictions across eight sectors including mining, manufacturing and banking. In manufacturing, foreign companies are allowed to produce their own rail transport facilities,…

Fight Of The New Millennium

Amazon Pitted Against Walmart for Retail Supremacy

Web retailer Amazon is poised for a face off against Walmart after the online giant bought up the grocery store chain Whole Foods for $13.7 billion in cash Friday. Walmart’s in-store food grocery aisles and purchase of online retailer Jet.com for $3 billion last year show that the lines are blurring between online stores and their…

Capitalizing On Blockchain, Singapore Looks To Cash In

Meet The Fintech Queen of Singapore

Singapore is one of the leading hotspots for financial tech thanks to flexible regulation plus national initiatives to fund startups and integrate blockchain innovation into the local economy. American venture capitalists at the Ethereal Summit in New York praised Singapore as a ripe market, teeming with collaboration between entrepreneurs, regulators, banks and investors. The small island…

Sunday, June 18, 2017

While The Rest Of The World Moves Forward With The Paris Accord

Pilot zones will boost green finance

The central bank announced measures on Friday to support the establishment of five green finance pilot zones, a move to help upgrade the industrial structure and honor commitments under the framework of the Paris climate accord. Incentives will be established to boost the development of green finance, especially interest discounts and tax incentives, from the central…