Editor’s Choice

Telecoms tycoon Carlos Slim Helu is world’s richest man

The Mexican telecoms magnate Carlos Slim Helu has been named the world’s richest man, with a net worth of $53.5 billion (£36 billion), the first time since 1994 that the No 1 spot has been held by a non-American.

The annual billionaires list published by Forbes magazine shows that the number of billionaires increased from 793… »

Land of Rising Sun watches as Greek star wanes

The Japanese have always been fascinated with Europe. They modelled their system of government on Britain’s, as well as their health care system and roads; their railways owe something to France; their banks are being remodelled in German fashion. But right now it is another less familiar nook of Europe that is provoking the most… »

World trade is on the mend, but the strength of the rebound remains uncertain

IS THE glass half empty or half full for world trade? Figures released on March 1st by the Netherlands Bureau for Economic Policy Analysis (CPB), which maintains a close watch on global trade volumes, point to renewed vigour at the end of 2009. Trade volumes rose by 6%, quarter-on-quarter, in the final three months of… »

‘Buy farmland and gold,’ advises Dr Doom

The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.

The bleak warning of social and financial meltdown was delivered today in Tokyo at a gathering of 700 pension and… »

China risking property bubble with prices rising 20pc a month

Property prices in the West may be back on a downward trajectory, but there is one market where they are still white hot – China. The Asian superpower is in the midst of such a vast property boom, with prices leaping 20pc a month in some regions, that developments are taking on fairy-tale dimensions.
Literally. The… »

Massive earthquake hits Chile

The quake, registered at magnitude 8.8 on the Richter scale, caused buildings and bridges to collapse and led to power-black outs in parts of the Chilean capital, Santiago, 200 miles from the epicentre.

Chile’s President Michele Bachelet declares “state of catastrophe” following earthquake…. »

Luxembourg-sized iceberg threatens weather chaos after split

An iceberg the size of Luxembourg has split off from the Antarctic continent and could disrupt global ocean patterns and weather systems for decades, according to scientists.

The 985 square-mile (2,550 square-kilometre) block of ice was knocked off the Mertz Glacier Tongue, a spit of floating ice protruding from East Antarctica on February 12 or 13…. »

Hedge Funds Try ‘Career Trade’ Against Euro

Some heavyweight hedge funds have launched large bearish bets against the euro in moves that are reminiscent of the trading action at the height of the U.S. financial crisis.

The big bets are emerging amid gatherings such as an exclusive “idea dinner” earlier this month that included hedge-fund titans SAC Capital Advisors LP and Soros Fund… »

West Not Recovering, Bond Crisis on the Way: Strategist

The economies in the West are not actually recovering, Martin Hennecke, associate director at investment and financial advice firm Tyche, said Tuesday. He foresees high or even hyper inflation going forward in the West and a potential crisis in the bonds market.
“We are not seeing any growth in the United States, let alone any sustainable… »

Zuma’s world is cracking up all around him

NOT only is the African National Congress (ANC)-led alliance plagued by a debilitating succession battle, it is also riven with economic policy fissures .

Allegations of corruption in the ANC, linking senior members to lucrative state tenders and patronage networks, have sparked tender wars in the state, and are often the leitmotif for power struggles in… »