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Latest 24 Hour Economy News
Source: Reuters

Breakingviews - Cannabis industry shops for a suit and tie

Tuesday 11:45 GMT

This month’s U.S. elections brought a modest victory for the cannabis industry, with opponents like Texas Representative Pete Sessions losing seats and three states – Missouri, Utah and Michigan – voting to legalize in one way or another.

There are 111 pot-related companies on the Canadian Securities Exchange – the only North American bourse where firms with business dealings in the United States can issue shares – and cannabis producers accounted for the majority of the $3.6 billion raised on the CSE in the first 10 months of the year.

Source: The Week

Wealth cannot save you from climate change

Tuesday 10:49 GMT

If there were a very severe climate crisis that seriously disrupted the U.S. economy and government, Bezos' whole business could easily go bankrupt, and his wealth — which is mostly Amazon stock — would disappear.

In some cases, they can even protect you from individual climate change-fueled natural disasters like the fires ravaging California. The Woolsey Fire in Southern California, for instance, burned down much of the wealthy city of Malibu — but not the home of Kanye West and Kim Kardashian, who hired private firefighters to save their $60 million home, and also those of everyone on their street.

Source: Common Domain

Trump is right to focus on the trade deficit

Tuesday 10:49 GMT

In all this economists are relying on basic accounting identities — the domestic savings deficit must equal foreign capital inflows must equal the trade deficit.

If the federal government freed up constraints on domestic energy development — eliminated regulatory obstacles to pipeline construction and offshore drilling — oil production would rise, net imports of energy and the trade deficit would fall, gross domestic product and tax revenues would increase, and the government budget deficit would fall.

Source: DW

Nissan chairman Carlos Ghosn arrested over financial misconduct

Tuesday 10:49 GMT

Nissan Motor Company said on Monday it was moving to fire Carlos Ghosn from his post as chairman after Japanese media reported he was arrested for using company money for personal use and engaging in other serious acts of misconduct.

Nissan said Ghosn and Kelly "have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation." "Nissan deeply apologizes for causing great concern to our shareholders and stakeholders.

Source: The Guradian

Nissan Renault chief Carlos Ghosn faces arrest in Japan

Tuesday 10:49 GMT

Carlos Ghosn, the chairman of Nissan and chief executive of Renault, faces arrest in Japan and will be sacked by the car manufacturers for alleged financial violations.

In a statement, Nissan said that “over many years” Ghosn and another senior executive, Greg Kelly, had been “reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation”. Nissan added: “Numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly’s deep involvement has also been confirmed.”

Source: The Guradian

We've settled on a shallow conception of democracy. And that's dangerous

Tuesday 10:49 GMT

The unifying principle is this: concentrated power in any form can be dangerous; institutions should be built to human scale, and we need, above all, to pursue human ends.

At the risk of stating what has become obvious in recent years, this materialistic view of the economy and democracy is at best thin and at worst dangerous. Prolonged economic dissatisfaction and our thin conception of democracy have left behind a spiritual hole that has driven voters across the United States, Europe and South America into the arms of angry populists and nationalists who offer a new spiritualism based on the nation.

Source: Common Domain

These people have been buying up stocks faster than anyone since 1989

Tuesday 08:04 GMT

Stock ownership more than doubled for these households between 1989 and 2016, according to Investment Company Institute tabulations of the Fed data.

If dabbling in individual stocks sounds like something you want to try, start small, slow and even consider using fake money at first via a stock market simulator. Some online brokers offer potential customers free access to their virtual trading platforms to take a test drive without risking your lunch money.

Source: Common Domain

Goldman Wakes Up to 1MDB Reckoning

Tuesday 08:04 GMT

Goldman shares are down around 11% since news broke on Nov. 1 that a former partner pleaded guilty and another former Goldman employee was charged with helping steal money from a Malaysian government investment fund known as 1MDB and paying bribes to the country’s leader to help Goldman win more business.

For the first time, investors are punishing Goldman Sachs GS -0.80% for its role in one of the biggest financial scandals in history.

Source: Reuters

People are our greatest asset. Wanna buy them?

Tuesday 07:00 GMT

Eastern Europe’s chronic labor shortage is feeding into corporate takeover activity, with some companies making acquisitions to snap up skilled workers or obtain expertise needed to expand their businesses.

While the practice represents just a small part of the region’s mergers and acquisitions market, it underlines concerns about the deepening labor crunch at a time of buoyant economic activity, advisors and executives said.

Source: BBC

UK stock market slips amid Brexit turmoil

Tuesday 06:04 GMT

Despite the Prime Minister announcing on Wednesday that she had secured cabinet backing for the draft Brexit agreement with Brussels, the resignations of Brexit Secretary Dominic Raab and Work and Pensions Secretary Esther McVey on Thursday rattled markets.

Mr Khalaf said the index of the biggest 100 companies on the stock market was protected from bigger falls by companies with large international operations.

Source: Global News

Ice cream, fruit and 3D printer launched to International Space Station

Saturday 20:55 GMT
Source: Common Domain

Le’Veon Bell and the Diminishing Value of Running Backs in the NFL

Saturday 02:26 GMT
Source: Fox News

Selfie saves Texas man from serving up to 99 years in prison

Friday 18:13 GMT
Source: The Guradian

A letter to… Gramps

Saturday 07:00 GMT
Source: The Guradian

‘Philosophically speaking, we can never fully trust our memory’

Sunday 12:40 GMT
Source: Common Domain

ABC Entertainment President to Step Down

Saturday 02:26 GMT
Source: The Guradian

The weight is over: kilogram redefined at 'emotional' conference

Friday 18:13 GMT
Source: Common Domain

Kaleo increased the price of its rescue medication to exploit U.S. opioid crisis, new report finds

Tuesday 14:31 GMT
Source: DW

China's road from copycat to innovator

Tuesday 11:45 GMT
Source: Global News

Canada Post asks union for ‘cooling off’ period that would pause strike during holidays

Tuesday 17:15 GMT
Source: Common Domain

U.K. Home Sellers Respond to Brexit Fears, Drop Asking Prices

Tuesday 20:55 GMT
Source: Fox News

de Blasio, citing 'socialistic impulse,' wants more government control of NYC property

Tuesday 17:15 GMT
Source: Fox News

Meghan Markle's IRS tax review may expose royal family's riches

Tuesday 20:55 GMT
Source: The Guradian

Taylor Swift leaves lifelong label to sign with Universal Music Group

Tuesday 14:31 GMT

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte