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Venezuela defaults on £45bn debt after missing payments

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Venezuela has defaulted on its £45billion debt after missing interest payments sparking fears investors could seize the country’s oil as payment. Caracas faced the first of what could be a cascade of defaults on its enormous foreign debt Tuesday as financial experts Standard and Poor’s declared the crisis-torn South American country in ‘selective default’. S&P’s... 

Beautiful horse-riding Russian postwoman becomes AliExpress face in China

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A Russian postwoman who delivers mail to villages around Moscow on horseback has become the face of online trading platform AliExpress. She gained two million fans in China after a documentary about her job aired on a Chinese channel. Maria Rubtsova from Moscow relocated to the capital’s suburbs to work for the Russian Post in 2015. Now, the 24-year-old is delivering mail to eight villages in her... 

Richest 1% have More Money than Poorest Half of World's Population

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The bottom half of adults in the world collectively own less than the richest one percent, according to a Credit Suisse report. The gap between the super-rich and the poor has significantly grown since the global crisis. The wealthiest one percent owned 42.5 percent of global wealth in 2008, the bank reports. “The downward trend reversed after 2008 and the share of the top one percent has been... 

Foreign Investors Seek Role in Post-War Syrian Economy

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In Syria’s eastern province of Deir ez-Zor, units from the Syrian Army, alongside troops from the wider coalition of pro-government forces, are continuing to advance against Daesh terrorists, liberating additional cities, villages and oil fields at an impressive pace. Although Islamist militants remain present and active in other parts of the war-torn state, particularly in the north-western... 

The Federal Reserve Has Just Given Financial Markets the Greatest Sell Signal

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Why have stock prices risen so dramatically since the last financial crisis? There are certainly many factors involved, but the primary one is the fact that the Federal Reserve has been creating trillions of dollars out of thin air and has been injecting all of that hot money into the financial markets. But now the Federal Reserve is starting to reverse course, and this has got to be the greatest... 

Europe considers getting rid of IMF and creating own fund

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Relations between Europe and the International Monetary Fund (IMF), which have carried out several bailout programs together, may change dramatically as the eurozone intends to replace the fund’s presence in bailouts. The European Commission plans to give more responsibility to the European Stability Mechanism (ESM) which helps eurozone countries to borrow money. The ESM will monitor and enforce... 

China Poised and Ready to Become World's Superpower

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Chinese President Xi Jinping has announced plans to turn his country into the world’s strongest nation by 2050. David O’Brien of the University of Nottingham Ningbo China explained to Sputnik what could be behind Beijing’s push for global dominance. Sputnik: What is your outlook regarding China’s future development? How likely is it to become the biggest superpower? David O’Brien:... 

Russia buys more gold, intensifies activities in Asia to bury the US dollar

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Russia’s activity in the Asian region may undermine the world financial domination of the United States. Russia has recently concluded major oil and gas contracts with leading Asian countries. According to the South China Morning Post, Russia’s ambitious gas projects in the Far East may trigger a sharp decline in the volume of US oil and gas contracts with Tokyo and Beijing. A change in... 

Germans Pay $634 Million for Israel’s Latest Nuclear Attack Subs

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German taxpayers will be forced to contribute €540 million (US$634 million) towards three new nuclear-weapon capable attack submarines the Jews-only state is buying from the Thyssenkrupp sub manufacturer. Making the announcement, German government spokesman Steffen Seibert told a news conference that Angela Merkel’s cabinet had approved the sale and “will provide financial support for the purchase.” The... 

Bitcoin ‘going to implode’ like Enron: Saudi billionaire Alwaleed

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Bitcoin is going to implode, repeating the fate of US energy and commodities giant Enron, Saudi billionaire investor Prince Alwaleed bin Talal said. “It just doesn’t make sense,” Alwaleed told CNBC’s Squawk Box program when asked about the prospects for Bitcoin. “This thing [Bitcoin] is not regulated, it’s not under control, it’s not under the supervision” of any central... 

Putin green lights launch of the CryptoRuble

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Russian President Vladimir Putin has ordered the issue of a national cryptocurrency, according to Communications Minister Nikolay Nikiforov, after a closed-door meeting. The minister said once the digital currency or CryptoRuble is issued other cryptocurrency mining will be banned and it will be entirely regulated by the government. “I am so confident to declare that we will run CryptoRuble just... 

Bitcoin now bigger than Bayer, Goldman Sachs & Nike

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The value of the world’s largest cryptocurrency bitcoin has broken the $5,800 mark, hitting another all-time high before retreating to the $5,600-$5,700 level, still close to the maximum. Its market capitalization is approaching $97 billion. If bitcoin were a company, its market cap puts it in the same league as some of the world’s top corporations. The cryptocurrency would be in 77th in PwC’s... 

China ousts all North Korean companies

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The Chinese authorities announced the closure of all North Korean companies on the territory of China against the backdrop of UN sanctions against Pyongyang due to continuing nuclear tests in the DPRK, a message posted on the official website of the Ministry of Commerce of China said. Officials with the Chinese department said that all legal entities from North Korea, including joint ventures with... 

90% of Austrian Asylum Seekers on Welfare, Only 1 in 5 Immigrants in Germany are Employed

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Ninety percent of asylum seekers in Austria are living on welfare. In Germany only one-in-five of Merkel’s immigrants are working. At least one million immigrants have invaded Germany in the last three years. Fria Tider reported: Of a million asylum seekers who have come to Germany in recent years, only a fifth has acquired some kind of employment, writes SVT Nyheter. Now, a large majority of Germans... 

GOP Enraged After AG Sessions Refuses to Charge Lois Lerner In IRS Scandal

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GOP members are NOT happy with the Department of Justice after notifying Congress on Friday that it will not charge IRS Lois Lerner over her alleged involvement in targeting Conservative groups. Washington Examiner reports: “[T]he Department determined that reopening the criminal investigation would not be appropriate based on the available evidence,” Assistant Attorney General Stephen Boyd wrote... 
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