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Currencies that got crushed in 2016

Turkish Lira, British Pound, Argentina Peso, Mexican Peso…

2016 has been a roller coaster of a year, and currency markets are no exception. A few countries have fared well, but others have seen the value of their currencies fall dramatically. Here’s a list of the currencies that have been rocked hardest in 2016. … Fri.,  30 December 2016

Jobs back to USA

Sprint Presents a Plan to Add 5,000 Jobs in U.S.

President-elect Donald J. Trump took credit on Wednesday for a decision by Sprint to add 5,000 jobs in the United States as he tried to deliver on his promise to force corporate America to focus on job creation at home rather than abroad. … Thu.,  29 December 2016

Amazon just had its greatest holiday season ever

The voice-controlled Echo Dot was the top-selling item

And the retail giant had some fun detailing just how great it was. The voice-controlled Echo Dot was its top-selling item, followed by its Fire TV stick, Fire tablet and Echo. Shoppers with an Amazon Prime membership, which costs $99 a year and offers free two-day shipping, purchased more than one billion items during the holiday shopping season. December 19 was the peak shipping day for Amazon (AMZN, Tech30), while December 23 was the biggest day for Prime Now deliveries. Among the most popular items for the two-hour delivery service that day were Oreo cookies. … Wed.,  28 December 2016

Currencies war

A cheaper currency does not always boost economic growth

In september 2010 Brazil’s then-finance minister, Guido Mantega, gave warning that an “international currency war” had broken out. His beef was that in places where it was difficult to drum up domestic spending, the authorities had instead sought to weaken their currencies to make their exports cheaper and imports dearer. The dollar had recently fallen, for instance, because the Federal Reserve was expected to begin a second round of quantitative easing. The losers in this battle were those emerging markets, like Brazil, whose currencies had soared. Its currency, the real, was then trading at around 1.7 to the dollar. … Mon.,  26 December 2016

Selling debt without warning of the risks, a practice that will cost Credit Swiss and Deutshe Bank $12 billion

U.S. hits Credit Suisse, Deutsche Bank with toxic debt penalties

Credit Suisse (CSGN.S) and Deutsche Bank (DBKGn.DE) have been hit with a combined penalty of more than $12 billion over the sale of U.S. toxic debt, further hampering two of Europe’s leading investment banks as they struggle with weak earnings. The penalties stem from an initiative launched by U.S. President Barack Obama to pursue banks for selling sub-prime debt without warning of the risks, a practice that led to the worst economic crisis since the Great Depression. … Fri.,  23 December 2016

Trump chose ‘Death by China’ author for trade advisory role

Trump Forms Trade Council Led by China Critic Peter Navarro

Peter Navarro, a University of California at Irvine economics professor and a frequent critic of China’s trade practices, will lead a newly formed White House National Trade Council as an assistant to President-elect Donald Trump.  The fresh set of personnel inside the White House is tasked to “advise the president on innovative strategies in trade negotiations, coordinate with other agencies to assess U.S. manufacturing capabilities and the defense industrial base, and help match unemployed workers with new opportunities in the skilled manufacturing sector,” the transition team announced in a statement Wednesday. Navarro will be “director of trade and industrial policy” and an assistant to the president. … Thu.,  22 December 2016

Stocks markets: real risks that lie ahead

The Trump rally on Wall Street has sent the Dow skyrocketing 1,600 points

Many market gurus are optimistic about 2017 and stocks could continue to rally for some time. However, the extreme bullishness masks the real risks that lie ahead as President-elect Donald Trump takes office. … Wed.,  21 December 2016

Silicon Valley giants are investing in solar and wind electricity

Google, Apple, Facebook race towards 100% renewable energy target

Tech giants are jockeying to be the first to hit a 100% renewable energy goal. Google, which has invested in solar and wind energy for a decade, intends to get there by 2017. Google is the largest corporate buyer of renewable energy, and plans to buy enough wind and solar energy to offset all the electricity used by its 13 data centers and offices in 150 cities worldwide, the company said Tuesday. Apple seems close to reaching its own 100% goal as well. The company said it achieved 93% in 2015. An Apple spokeswoman said the company has yet to set a year for when they would likely cross the finish line. … Tue.,  20 December 2016

The cost of air pollution

Air Pollution Deaths Cost Global Economy US$225 Billion

Severe conditions in China for the coming week, car and coal pollution peak  in European cities last week, just have a look on the september report of the World Bank related to the global cost of air pollution… … Mon.,  19 December 2016

Carlos Ghosn not worried about the future of the NAFTA

Nissan CEO sees record 2017 sales as global econ growth buoys demand

Ghosn said he was not very worried about the future of the NAFTA. “What has been said by the president of the United States is ‘America first’ … We have to believe that the program is about American interest, and American interest includes strong trade relations with Mexico.” … Fri.,  16 December 2016