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IG Research – The long and the short of it

The highlight through Asia yesterday was the launch of CBoE Bitcoin futures and this seems to have gone away without any major hiccups, and the wash-up is that a wave of short sellers hasn’t hit the market and we see firmer Bitcoin futures and a new all-time high in the Bitcoin price.One suspects this coming…

ECB to play up eurozone strength at steady-as-she-goes meeting

The European Central Bank will highlight economic strength in the eurozone in new forecasts Thursday, analysts expect, while avoiding spooking markets with talk of further cuts to its massive support for the economy.ECB economic growth forecasts could be in for an upgrade this week, after the European Commission last month sharply lifted its predictions to…

HSBC avoids prosecution as US deal lapses

US authorities are lifting the threat of prosecution against the British banking giant HSBC, five years after it admitted to widespread money laundering and sanctions violations, the bank said Monday.In a landmark case, the bank agreed to pay a $1.9 billion in fines in 2012, after admitting it knowingly moved hundreds of millions for Mexican…

In food waste fight, Brits turn bread into beer

At a brewery nestled in rolling farmland in northern England, the process of making beer begins with dropping dozens of unwanted loaf ends, thrown away by a sandwich factory, into a large stainless steel tank.Add water, hops and yeast, and out comes the unmistakable golden beverage popular the world over.‘We’re essentially substituting part of the…

Seeking music edge, Apple buys song recognition app Shazam

Apple said Monday that it would buy leading song recognition app Shazam in a fresh bid to secure an edge in the intensifying battle of streaming services.Apple, whose streaming service has rapidly grown but still has only half the paid subscribers of Spotify, said that Shazam has consistently been one of the most popular items…

Business conditions slump

Credit card numbers fall for first timeLending; Credit cards; Housing; Business survey; Consumer sentimentCredit cards: The average credit card balance fell by $15 to a decade low of $3,061.90 in October. The number of credit cards is now falling in annual terms for the first time on record.Business survey: The NAB business conditions index fell…

Asia News Agenda Tuesday

ASIA NEWS HIGHLIGHTS ON TUESDAY+ Sex-murderer banker appeals Hong Kong sentence+ Singapore launches electric car-sharing schemeHONG KONG– A former British banker jailed for life last year for the horrific murder of two Indonesian women to appear in court for an appeal hearing.SINGAPORE– The city-state rolls out its first electric car-sharing scheme, a fresh bid to…

World’s space agencies propose setting up climate observatory

The heads of several of the world’s space agencies have proposed the creation of a climate observatory to pool acquired data and share it with scientists around the globe, according to a declaration adopted Monday in Paris.On the eve of the One Planet Summit organised in the French capital, the space agencies’ chiefs met to…

Can Telstra be a global technology giant?

Telstra’s strategy day compounded its poor performance. In unveiling its vision as “a world class technology company“, outlining its intent to exploit new business and revenue opportunities from IoT (internet of things), 5G and big data…Another year (almost) over, and assets have again been on a tear. All ASX sectors have performed well this year,…

US Treasury halts pension investments to avoid debt default

The US Treasury on Monday announced it was halting investments for two government employee pension funds in the latest move to avoid hitting Congressionally-mandated borrowing limit.The bookkeeping moves are part of the effort to avoid defaulting on the US debt until Congress raises the debt ceiling from the current level of more than $20 trillion.Treasury…