May 16, 2022
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Business

Russia & China could set international gold price based on physical gold trading

Published time: 3 Dec, 2017 01:45 Since Russia, China, India, Brazil & South Africa are all either large producers or consumers of gold, or both, it is highly likely that the BRICS bloc they constitute could focus its cross-border gold trading network on trading physical gold. Gold pricing benchmarks from such a system would be based on physical gold transactions,
Business

Do EU27 really want euro clearing?

Financial trading worth some €1 trillion per day may be forced to move into the EU after Brexit, according to a European Commission proposal which seeks to repatriate transactions of euro-denominated instruments from London. Not everyone wants the potentially poisoned chalice. The proposal was political through and through, but technocrats taking a closer look now warn
Business

Philip Hammond’s bid to buy his way out of trouble

LONDON — It was a budget born of weakness. Faced with gloomy economic forecasts, mounting political pressure from his Brexiteer critics who suspect the U.K. chancellor may not wholeheartedly support the country’s impending exit from the European Union, and a hung parliament making it difficult for the government to get anything done, Philip Hammond bowed to political
Business

Pierre Moscovici sees big leap for eurozone

WASHINGTON — European Commissioner for Economic and Financial Affairs Pierre Moscovici said Friday he was confident eurozone countries would pursue an ambitious restructuring of their currency union after upcoming elections in France and Germany. “It will be a window of opportunity that we must not miss,” he said in an interview on the sidelines of the International
Business

G20 plays down trade differences with Trump

WASHINGTON — Recent tensions between the U.S. and other major economies over trade did not reemerge during Friday’s meeting of G20 finance ministers and central bank governors, fueling hopes global policy makers can avert an open dispute with the Trump administration over globalization, top German officials said. German Finance Minister Wolfgang Schäuble and Bundesbank
Sports

Formula E car v.s. cheetah — but which wins speed race?

Formula E driver Jean-Éric Vergne climbed behind the wheel for a speed test against a cheetah in South Africa. Cheetahs are the world's fastest land mammals and can accelerate from 0-60 mph in about three seconds, reaching top speeds in excess of 70 mph. Vergne's engine boasts a higher top speed but has similar acceleration stats.So who won?While the cat was
Sports

Alex McGough helps FIU tie program record with win over UMass

MIAMI (AP) — Alex McGough passed for 296 yards and three touchdowns and added 108 rushing yards and another score, and FIU beat UMass 63-45 on Saturday to tie a program record for most wins in a season. FIU (8-4), which also won eight games in 2011, set a program record with 674 total yards, topping 668 at Troy in 2010. The Golden Panthers gained 379 yards on the ground
Sports

Indiana suffers 69-55 loss to Michigan in Big Ten opener

ANN ARBOR, Mich. — Jordan Poole scored 11 of his 19 points in the first half, and Michigan’s fast start was too much for Indiana to overcome in the Wolverines’ 69-55 victory Saturday. Michigan (7-2, 1-0 Big Ten) scored its first 12 points on 3-pointers and led 16-2 early on. It was 34-21 at halftime, and although Indiana (4-4, 0-1) cut the deficit to five in the second