China: Capital outflow at record pace sparking fears
Capital is flowing out of China at a record pace, sparking fears over financial stability and complicating efforts by the central bank to support a slowing economy with lower interest rates. China ran a balance of payments deficit of $80bn in the first three months of the year, the largest quarterly net outflow on record, according...
Pakistani man accused of making millions from fake degrees
qz.com - by Devjyot Ghoshal - 18 May 2015 Axact This post has been updated. The only son of a lawyer, Shoaib Ahmed Shaikh grew up in a religious, middle-class Pakistani household with one ambition: He wanted to become the richest man in the world. “Even richer than Bill Gates,” Shaikh told his employees in a speech last...
HSBC: World economy facing a ‘TITANIC PROBLEM’
malaysia-chronicle.com - 16 May 2015 HSBC’s Stephen King is already thinking about the next recession. In a note to clients on Wednesday, HSBC’s chief economist wrote that the world economy has a “titanic problem” because, King writes, there aren’t enough lifeboats to go around when the world economy sinks again. Here’s...
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