October 19, 2021
  • 10:13 am Bank of Ireland sees losses surge
  • 10:13 am Retail sales up faster than forecast
  • 10:12 am Investors attack Mecom
  • 10:12 am Hedge funds lost out in August after stocks fell
  • 10:10 am Diageo says Europe is weak

first_img Bank of Ireland sees losses surge Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot BANK of Ireland (BoI) yesterday distanced itself from its fellow state-supported Irish banks by reiterating its commitment to regaining financial independence, despite admitting that underlying pre-tax losses doubled over the first half of the year.BoI, which is 36 per cent owned by the Irish government, posted a core pre-tax loss of €1.25bn (£1bn) for the six months to end of June, compared to a loss of €0.67bn last year.But chief executive Richie Boucher was adamant the group remains committed to extricating itself in a “safe and prudent” manner from state support. The pledge come in stark contrast to its peers, after fully-nationalised Anglo Irish Bank on Tuesday won EU approval for a fresh bailout of up to €10bn from the Irish government.Boucher said Bank of Ireland’s recent €2.9bn independent capital raising exercise was a “critical step” in the process, demonstrating it has the support of investors.“We continue to build on this through our focus on gathering customer deposits and extending the maturity profile of our wholesale funding,” Boucher added.Bank of Ireland, which last month passed Europe’s stress tests with an adverse scenario tier one capital ratio of 7.1 per cent, comfortably over the six per cent EU threshold, warned yesterday that loan impairment charges had remained high as the Irish economy continues to stutter. Excluding the pool of toxic loans which it has earmarked for sale to Ireland’s “bad bank”, the National Asset Management Agency (NAMA), impairment charges on loans and advances to customers fell over the first half to €893m, just 3.6 per cent below where they stood this time last year. whatsapp KCS-content Show Comments ▼ center_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndo whatsapp Share Tags: NULL Wednesday 11 August 2010 8:40 pmlast_img read more

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first_img RETAIL sales volumes rose nearly three times faster than economists had forecast in July, with almost all non-food sectors showing strong growth, according to official data.Public borrowing measures, meanwhile, were lower than a year ago but still the revealed the uphill task the government has to face to bring down a 2009/10’s record budget deficit.The Office for National Statistics said British retail sales rose 1.1 per cent in July, the strongest gain since February. Analysts had forecast a rise of 0.4 per cent on the month. On the year, sales were up 1.3 per cent versus forecasts for an annual rise of 0.6 per cent.Excluding fuel, retail sales rose 0.9 per cent on the month and were up 2.4 per cent on the year.The ONS said the gains on the month were driven by particularly strong rises in the ‘other stores’ and ‘non-store retailing’ categories.The former, which includes jewellers and sports good stores, rose by 6.1 per cent on the month.The government’s preferred measure on which fiscal forecasts are based, excluding financial sector interventions, came in at £3.8bn. Richard Lowe, Head of Retail and Wholesale at Barclays Corporate said:“Despite a strong month for sales volumes, retail sales remain broadly unchanged compared to the end of last year. Consumer confidence has weakened in recent months and this dip in confidence continues to weigh on High Street sales figures.“I can’t remember a summer when retailers have been so quiet. They are usually out commenting on sales of seasonal favourites such as ice-cream and barbeque weekends but this just hasn’t been happening.” Show Comments ▼ whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof John Dunne Share Thursday 19 August 2010 5:06 am whatsapp Retail sales up faster than forecast Tags: NULLlast_img read more

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first_img KCS-content Share whatsapp Show Comments ▼ Thursday 20 January 2011 8:57 pm MORGAN Stanley defied the gloom hanging over the investment banking industry, reporting a rise in full-year profits in all of its three businesses.Overall, pre-tax profit was up 535 per cent to $6.2bn, with earnings per share up to $2.44 – an increase of 398 per cent on 2009. Quarterly profit was up 88 per cent.But although the bank grabbed market share from its rivals in equity capital markets deals, advisory fees recorded a drop-off towards the end of 2010, decreasing nine per cent in the fourth quarter compared to the same period in 2009. The bank was also behind its rivals in fixed income trading, prompting chief executive James Gorman to replace Jack DiMaio with Ken DeRegt as head of the division. Chief financial officer Ruth Porat said the “risk-on, risk-off attitude” during 2010 had dampened trading activity and implied it had delayed some capital markets deals: “It was a bit frustrating throughout the year to see our [investment banking] pipeline is building,” she said. “It’s a question of seeing them move through the pipeline.”In contrast to Goldman, where spending on pay decreased four per cent, Morgan Stanley spent 11 per cent more on compensation in 2010 for a total cost of $16bn, with pay per head rising by 7.5 per cent to an average of $256,595 (£161,598). The bank said that $247m of this cost was due to the one-off bonus tax imposed in the UK last year. Despite pay rising, however, the ratio of compensation to revenues fell to 51 per cent from 62 per cent.The bank also said that it had added three per cent to its payroll last year for a total headcount of 62,542. The new hires were concentrated in trading and building up its fixed income business. Although the bank would not say where the new jobs are located, Porat repeatedly referred to strong growth in Asia during a conference call on the results. Chief executive James Gorman said: “We’re not aggressively hiring right now but if a specific opportunity comes up, we fill it.”The bank also said that it was still engaged in the process of de-leveraging and “reducing the drag from legacy positions… in a Basel III world”. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp Morgan Stan sees pay and profits jump Tags: NULLlast_img read more

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first_img Subscribe to the iGaming newsletter Email Address Tags: FanDuel Entercom Sports betting Topics: Sports betting 30th October 2020 | By Robert Fletcher Entercom listeners will have access to FanDuel odds, insight, and promotion via the provider’s on-air stations and personalities, while the two parties will also collaborate on integrations and co-produce new content. Sports wagering and daily fantasy sports operator FanDuel has entered into a partnership with US sports radio and audio provider Entercom Communications. The agreement will run for a period of six years, with FanDuel to serve as the official sportsbook partner of Entercom across its sports broadcast stations and Radio.com digital audio platform. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter FanDuel lands new deal with Entercom Communications Read the full story on iGB North America. “Entercom has revolutionized the audio and entertainment industries and we’re beyond excited to be their preferred partner in the sports betting and fantasy categories,” FanDuel chief executive Matthew King said. The deal will also grant FanDuel preferred and increased category access to all Entercom talent in markets where both businesses operate. Regions: USlast_img read more

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first_imgTotal Kenya Limited (TOTL.ke) listed on the Nairobi Securities Exchange under the Energy sector has released it’s 2019 interim results for the half year.For more information about Total Kenya Limited (TOTL.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Total Kenya Limited (TOTL.ke) company page on AfricanFinancials.Document: Total Kenya Limited (TOTL.ke)  2019 interim results for the half year.Company ProfileTotal Kenya Limited is the largest oil and gas marketer in Kenya with an extensive network of service stations and fuel depots, liquefied petroleum gas filling plants and aviation depots. The Kenyan oil and gas company is a subsidiary of the global Total Group which is the fourth-largest publicly traded integrated international oil and gas company in the world with a presence in over 100 countries. The company was founded in 1955 as OZO East Africa Limited but changed its name to Total Oil Products East Africa Limited in 1988, making it the first multi-national oil company listed on the Nairobi Securities Exchange. The company changed its name to Total Kenya Limited in 1991. Total Kenya Limited has more than 176 service stations, 5 wholly-owned fuel depots and 3 jointly-owned depots, 2 liquefied petroleum gas filling plants, 1 lubricant blending plant and 5 aviation depots. Its head office is in Nairobi, Kenya. Total Kenya Limited is listed on the Nairobi Securities Exchangelast_img read more

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first_img See all posts by Manika Premsingh Image source: Getty Images Brexit, the US-China trade war, and the US elections are big political and policy decisions that will impact investors in 2021. Both Brexit and the US-China trade war have been with us for some time. In fact, their impact on financial markets and the FTSE 100 index is already visible. But their effect can reach a conclusive point in 2021. The US elections, of course, are the biggest regular politial event for global stock markets, whose impact we’ll start to see next month onwards.Brexit impactFirst, let’s explore the Brexit impact. There’s no way of knowing whether a Brexit deal will go through or not. Even if a deal is signed, there is likely to be an adjustment period for the UK, which could keep economic growth muted. This is especially true after the pandemic, which has weakened the economy severely.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…I think the best investing decision, keeping Brexit in mind, is to buy either defensives or geographically diversified stocks. They are least likely to be impacted by any potential Brexit blow. One FTSE 100 defensive is the consumer goods giant, Unilever. A stock with international exposure is the luxury brand and retailer Burberry. Read more about the investment case for both in my recent article. US-China trade warNext, the US-China trade war is about to reach an inflection point too. While the present US government is at loggerheads with the Chinese, the future depends on who wins the US elections next month. According to the BBC, there’s a higher chance that Biden will win. This could change over the coming weeks, but for now, let’s assume a Democrat sweep will happen. After confontrational relations between the two countries in recent years, some cooling off in the US-China tensions is likely. But, multiple news analyses I’ve read lead me to believe that relations between the two could remain stressed nevertheless. The US and China are the two biggest country economies in the world today. As long as their cooperation is strained, resulting in less trade, economic performance will be directly impacted. In a globalised world, this will have ripple effects elsewhere too. I think FTSE 100 stocks with their own momentum should be considered to beat a potentially sluggish global economy. Stocks related to clean energy,  like the FTSE 100 speciality chemical supplier Johnson Matthey is an example of this. I wrote about it in some detail a few days ago, for the interested (Forget Tesla! These are the FTSE 100 shares I’d buy to get in on the growing electric vehicle trend).US electionsMore generally, though, a Biden win is expected to be a positive for the US economy. Noted economist Nouriel Roubini recently wrote in The Guardian that there’s a positive correlation between Democrat governments and faster economic growth. For FTSE 100 investors, companies with significant US business will benefit from this. One example is the construction biggie CRH, whose share price has corrected recently giving investors an opportunity to buy. In sum, there are plenty of FTSE 100 plays irrespective of how policies impact stock markets in 2021.  “This Stock Could Be Like Buying Amazon in 1997” Brexit, US-China trade war, and US elections: 3 big things that will impact the FTSE 100. Here’s how I’d invest Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Simply click below to discover how you can take advantage of this. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.center_img Enter Your Email Address Manika Premsingh owns shares of Burberry. The Motley Fool UK has recommended Burberry and Unilever. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Manika Premsingh | Thursday, 15th October, 2020 Our 6 ‘Best Buys Now’ Shareslast_img read more

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first_img 30 Minutes with… Ireland scrum-half Conor MurrayWhat’s the funniest thing you’ve seen on the pitch?Playing for the Lions against the Rebels, I got up from the bottom of a ruck and heard a team-mate yelling to kick it out, so I booted it straight across the ruck, not looking for distance, and started jogging off thinking it was half-time, but the ref blew for the lineout. I turned around and Zeebs (Simon Zebo) was just laughing at me. He got fined for it later!Who are the jokers in the Ireland squad?Seany (O’Brien) and Luke Fitz are the main men. They keep us entertained. Seany is MC on long bus journeys and tells a few jokes and funny stories.What about practical jokes?Peter O’Mahony and Zeebs are probably up there. When my laundry comes back they rip it open, so when I come to collect it, it’s all over the floor. They think I don’t know it’s them, but I’m planning to get them back.Face of fury? Peter O’Mahony is “very intense and angry” according to Murray. Photo: Getty ImagesWhat did you get up to off the field at the World Cup?We’re together for a long time, so it’s important to do fun things. On one day off, we got to go to Alton Towers and we went clay pigeon shooting.It was supposed to be fun but got competitive very quickly! Peter O’Mahony is a bit of a sharpshooter – he’s into his hunting – so he came first. Paul O’Connell got a lot of help from the guy taking us round so he came a surprise second.What annoys you?Messy people. I’m quite tidy so I find it irritating when I’m in camp and have a room-mate who’s messy. Keith Earls is quite messy, but I whipped him into shape during the 2011 World Cup!If you could be any of your team-mates, who would it be? Scrum-half Conor Murray gives an insight into life inside the Ireland camp Just to be respected by other players. You try to impress people and fans, but being respected by your own team-mates is No 1 on my list.This article appeared in the November 2015 edition of Rugby World. For the latest subscription offers click here, or find out how to download the digital edition here. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALScenter_img Green machine: Conor Murray in action against France during RWC 2015. Photo: Getty Images I’ll go with Peter O’Mahony. He’s quite a crazy individual; he’s very intense and angry, so I’d love to see the world from his point of view, to be that angry. Just for a day, though.Who’d you like to be stuck in a lift with?Paul O’Connell, because you wouldn’t be stuck in the lift for long! He’d find a way to get out by busting the roof off or pulling the doors open.What’s your guilty pleasure?Crisps. I love crisps, and dips. That’s what I’ll be eating when I finish rugby.Snack attack: Murray likes to indulge in a packet of crisps. Photo: Getty ImagesIf you could have one superpower, what would it be?To predict the future. In games it would be useful and in a lot of other things. You’d know what to do to change the future.What would you like to achieve outside of rugby?Just to be successful. I don’t know what I want to do yet, but I love food, so maybe I’ll open a restaurant. I could set one up close to a port to get fresh seafood all the time.How would you like to be remembered?last_img read more

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first_img “COPY” Artisan House / Proud design Products used in this ProjectHanging LampsLouis PoulsenLamp – PH 5 + PH 5 MiniArchitect In Charge:Pooritat KunuratDesign Team:Proud designClient:Pooritat KunuratEngineering:Isara ChuechantukLandscape:Pooritat KunuratConsultants:Isara ChuechantukCity:Chiang MaiCountry:ThailandMore SpecsLess SpecsSave this picture!© Room magazine, ThailandText description provided by the architects. The main concept of Artisan House is “courtyard” to connect existing & new house. Located in Chaing Mai,Thailand,about 370 Sq.m. house area was design by Mr. Pooritat Kunurat head of Proud design co.,ltd. As the house was made for the designer himself, some of architectural elements are experimental. The designer wanted to incorporate local materials & craftsmanship with modern design. Save this picture!© Room magazine, ThailandSave this picture!Ground Floor PlanSave this picture!© Room magazine, ThailandThere are 2 stories, and the dining and living room spaces are divided by a small courtyard. The swimming pool in the middle exhibits the use of green sukabhumi stone to reflect the landscape surrounding the house. The dining room is designed to connect to the existing house so that 2 generations can gather together in this space, whereas the Living room was design for new family members.Save this picture!© Room magazine, ThailandSave this picture!Elevation ASave this picture!© Sarawut DoungwaThis area takes advantage of the staircase to create double space hall. The feature in this hall are the George Nelson bubble lamps, a collection from the owner. The bedroom on the second floor, inside formed concrete, is designed to be a kids’ room. By choosing the natural color of local material, like Thai teak wood, the result is a harmony of interior feeling and a the sense of space.Save this picture!© Sarawut DoungwaSave this picture!© Room magazine, ThailandThe Master bedroom is floating over the swimming pool, a design based on Retro Scandinavian Furniture. By choosing Thai teak wood for bedroom headboard wall & ceiling. The entire restroom roof is a skylight that connects from living space. The reading room & glass house are the space for the owner’s collection of furniture that mixes the interesting & different item together.Save this picture!© Sarawut DoungwaProject gallerySee allShow lessInnovative, Car Free and Green: Images of the New IKEA Austria Store RevealedArchitecture NewsSOM Collaborates with the European Space Agency to Research Habitation on the MoonArchitecture News Share “COPY” Photographs ArchDaily ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/932622/artisan-house-proud-design-cltd Clipboard Thailand Projects Architects: Proud design Area Area of this architecture project Artisan House / Proud designSave this projectSaveArtisan House / Proud design Area:  370 m² Year Completion year of this architecture project Year:  2019 Photographs:  Room magazine, Thailand, Sarawut Doungwa Manufacturers Brands with products used in this architecture project Houses CopyHouses•Chiang Mai, Thailand ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/932622/artisan-house-proud-design-cltd Clipboard Save this picture!© Room magazine, Thailand+ 32Curated by Hana Abdel Share Manufacturers: Louis Poulsen, Carl Hansen, Hafele, Herman Miller, Kohler, SOSS, GLOW, Howard Miller Products translation missing: en-US.post.svg.material_description CopyAbout this officeProud designOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesChiang MaiOn FacebookThailandPublished on January 28, 2020Cite: “Artisan House / Proud design” 28 Jan 2020. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodSiding Façade SystemWindowsMitrexSolar WindowMetal PanelsAurubisPatinated Copper: Nordic Green/Blue/Turquoise/SpecialMetal PanelsDri-DesignMetal Panels – CopperIn architectureSikaBuilding Envelope SystemsExterior DeckingLunawoodThermowood DeckingMembranesEffisusFaçade Protection – Breather+Metal PanelsPure + FreeFormCustom Metal Cladding – Legacy Fund 1 BuildingWood Boards / HPL PanelsInvestwoodWood Fiber Partition Walls – ValchromatDoorsLinvisibileLinvisibile FILO 10 Vertical Pivot Door | BrezzaSkylightsFAKROEnergy-efficient roof window FTT ThermoToilets / BidetsBritexToilets – Accessible Centurion PanMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

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first_imgSymptom of capitalist decayAug. 25 — If anything dramatically shows the irrationality of the capitalist economic system, it is a financial market crash. This happens after a period of euphoria in the markets has driven prices to all-time highs and huge sums of money have been changing hands — in these days, usually electronically.Then comes the day of reckoning. What had seemed solid wealth the day before suddenly turns into red ink. This is what began happening in the third week of August to markets around the world.At such times, only those with deep pockets can stay in the “game” and hold on to their investments, hoping for a renewed surge upward. If the billionaires are able to buy when prices have plunged and others are bankrupt, they stand to make a real “killing” on the market — if it goes back up at some point.By Monday, Aug. 24, some estimates put the losses worldwide at a total of $10 trillion. That’s a thousand, times another thousand, times another thousand, times a thousand again, times 10. $10,000,000,000,000 — just to put things in perspective.How can $10 trillion of wealth be “lost”? Or did it ever really exist?Presumably, this $10 trillion figure vaguely represents the value of real commodities — coal, steel, vehicles, food, shelter, aircraft carriers, gasoline — that would have been produced for sale at some future time, if the process of capitalist production and accumulation had continued on an upward course.That so much can be “lost” so quickly shows the precarious nature of capitalism. It illustrates in the starkest way how the profit system runs counter to any rational planning of human economic activity in this high-tech era — when the gulf between rich and poor, between social classes and between whole countries, only widens even as productivity leaps ahead.As this is being written, the media and many economic pundits are trying to talk up the market, emphasizing its partial rebound from record lows just yesterday. No one in the media wants to predict gloom and doom, knowing they could be held responsible for causing a panic and another plunge downward.The blame gameAnyway, the blame gamers have already picked their target. Almost all the propaganda organs of the imperialist ruling classes have fingered who is responsible: China. China’s stock market, after a big rise in prices based on hopes of future economic expansion equal to its phenomenal growth of the last decade, took a dive starting in the middle of June, according to the Shanghai Composite Index.There was general agreement then that Chinese stocks, especially in real estate, were overpriced, and the decline was considered a “correction.” But now the U.S. financial writers are beginning to describe the continued fall of Chinese stocks as a “plague” that has somehow infected Western markets. The assumption here is that the underlying economic conditions in the Western imperialist countries were healthy before this Chinese pathogen infiltrated markets across the globe.Give us a break.What’s healthy about workers’ wages in the U.S. buying less today than they did in 1967? What’s healthy about the economy of a country where a cop can arrest and kill a Black man for the survival “crime” of selling single cigarettes on the street? As happened to Eric Garner in Staten Island, N.Y. What’s healthy about a parent having to work two part-time, low-wage jobs just to feed her kids?And speaking of wages, let’s not average in those chosen few corporate executives who manage the criminal acts of this dog-eat-dog system and get ever so nicely rewarded with “salaries” in the millions.Stocks crash, rise and crash againCapitalist stock market crashes are nothing new. China was an impoverished, semi-feudal, landlord-ridden country when the first big market collapses began jerking people around in Europe and the U.S. in the 19th century. China was still in that condition when the 1929 global market crash happened in the West, leading to a decade of extreme poverty for the workers — the Great Depression.Since then there have been market crashes every seven or eight years. Some investors have gained, more have lost. But an interesting thing happened with the 2008-09 crash. There has never been a real capitalist “recovery” since then.Unemployment has remained high, even in the developed capitalist countries — especially in Europe, but also in the U.S. Millions of workers here have just given up on finding a job, and millions more are still trying to get into the job market for the first time.Workers are overburdened with debt that becomes increasingly unpayable. Home mortgages, car mortgages, credit card debt, student loans — they are now seen as the next bubbles to burst.When the super-rich do relax their tight grip on their money and invest in production, it is likely a super-automated plant that costs billions and will employ at most a few hundred workers.This is what capitalism has brought us to, and there is no easy way out.Tear the system down!All the glorious expectations created by the enormous scientific and technological breakthroughs of the last century and a half boil down to this: The rich have gotten unspeakably richer, the poor are getting poorer while being beaten down by cops and wars, and the environment, the planet we live on, is being wrecked by an economic system based on greed and exploitation.That is not China’s fault. Hopefully, the lessons of this market collapse will spur on those in China who want to reorient their development plans away from using the capitalist market to stimulate the economy. It is a stimulant that can become a depressant only too quickly. And it also breaks down the solidarity of the masses — which made China’s transformation possible in the first place.China didn’t cause this crisis. On the contrary, it was the success of China’s amazingly rapid development over the last few decades that kept the capitalist economies in the rest of the world afloat. They flocked to China to exploit cheap labor and stayed because of the rapidly expanding modern infrastructure and the availability of millions of educated, skilled young workers. But those things came from China’s ability to plan its development — the product of its socialist revolution.Now it looks like the temporary boost that China’s growth gave to Western capitalism after the crash of 2008 wasn’t enough to keep this system going. All the laws of social development say that it is time to organize and fight here for a thorough overturn of the system — from the bottom up.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

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first_img June 9, 2021 Find out more September 28, 2011 – Updated on January 20, 2016 More arrests, threats and sentences for Iran’s journalists March 18, 2021 Find out more Organisation IranMiddle East – North Africa IranMiddle East – North Africa RSF_en to go further News Receive email alerts After Hengameh Shahidi’s pardon, RSF asks Supreme Leader to free all imprisoned journalistscenter_img Reporters Without Borders firmly condemns a new wave of arrests of Iranian journalists in recent weeks. The following journalists were arrested between 1 August and 27 September without any official reason being given:- Hamid Moazeni, a blogger and journalist who works for several local newspapers in the south-coast city of Bushehr;- Ali Dini Torkamani, a writer and economist who contributes to the online magazine Alborznet;- Hadi Ahmadi, a journalist who works for the news agency ISNA in Karaj, a city 20 km northwest of Tehran;- Mehrdad Sarjoui, a Tehran-based journalist who writes for several English-language newspapers;- Amir Ali Alamehzadeh, a journalist who works for the news agency ILNA in Tehran;- Ebrahim Rashidi, a journalist with the weekly Bayram in the northwestern city of Ardabil;- Faranak Farid, a writer and translator who contributes to the Feminist School website. She was arrested on 3 September in the northwestern city of Tabriz.As already reported, members of the staff of Majzooban Nor, a website that supports Iran’s Sufis, were arrested during raids by intelligence ministry officials on 7 and 8 September, again without any official reason being given.The following are still held: Alireza Roshan, a book reviewer for the newspaper Shargh, Ali Akrami, editor of the Sheydagooyi blog (http://sheydagooyi.blogfa.com/), Ali Straki, Mehdi Hossini, Mehdi Osanlo, Hamid Moradi, Mehran Rahbari, Mostafa Abdi, Nosrat Tabassi, Ali Moazemi and Reza Entesari.These detained journalists are being denied their rights. They do not have access to their own lawyer. Some of them, such as Mehrdad Sarjoui, have been in solitary confinement for weeks. Others, such as Faranak Farid, have been mistreated. Their families are threatened with reprisals if they talk to the media.Reporters Without Borders is also outraged by the way the various intelligence services are harassing journalists and intellectuals in an attempt to force them to collaborate with the regime and betray colleagues. Several detained journalists are suffering from depression after being pressured in this way. Others who are not in prison have fled the country to escape this form of harassment.The journalist Narges Mohammadi has meanwhile just been sentenced to 11 years in prison on charges of collaborating with the Human Rights Defenders Centre, “meeting and conspiring against the Islamic Republic” and anti-government propaganda. Until her arrest, she was the centre’s a spokesperson and a close colleague of Nobel peace laureate Shirin Ebadi. Ahmad Reza Ahmadpour, a theologian and editor of the “Silent Echo” website (http://www.pejvak-kh.com) who has been held since 18 July, was sentenced on 26 September to three years in prison and 10 years of internal exile on a charge of disseminating false information attacking the government.A cleric and blogger based in the religious city of Qom, Ahmadpour was previously arrested in December 2009 and was given a one-year sentence on a similar charge. While held, he sent an open letter to UN secretary-general Ban Ki-moon to draw attention to his arrest.According to the pro-reformist website Kalameh, Chari Mohammad Moradof, a citizen of Turkmenistan held for the past 26 months in Tehran’s Evin prison, has been sentenced to 21 years in prison on charges of spying and anti-government propaganda. A student and translator, he was arrested while filming a street protest shortly after President Mahmoud Ahmadinedjad’s disputed reelection in June 2009. News Help by sharing this information News Follow the news on Iran News Iran: Press freedom violations recounted in real time January 2020 Call for Iranian New Year pardons for Iran’s 21 imprisoned journalists February 25, 2021 Find out morelast_img read more

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