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ALBERT EDWARDS: China is running out of money

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China is running out of money and will have to float the renminbi as a free currency, according to notoriously pessimistic economist Albert Edwards. Societe Generale’s Edwards is about as bearish as they come. Already this year he has predicted that the US stock market will fall by 75% and argued that we might be...
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The world’s biggest steel maker just lost $7.9 billion

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Another day, another two scalps for the commodity price crash. Two huge resources firms reported results on Friday, and you can add both to the pile of giants getting crushed by the falling price of raw materials. ArcelorMittal, the world’s biggest steelmaker, and BG Group, the FTSE 100-listed oil giant, both took big hits last...
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China cracks down on illegal GM crops ahead of Syngenta deal

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By Dominique Patton BEIJING (Reuters) – Chinese officials have issued warnings to seed dealers and farmers not to use unapproved genetically modified seeds in the country’s main crop belt, shortly after Greenpeace said it had found widespread GM contamination in corn. The unprecedented action by rural authorities in the past two weeks also comes as...
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Carney is being ‘too aggressive’ on interest rate hike threats and is ‘confusing the markets’

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The Bank of England Governor Mark Carney has increasingly warned the markets that Britain’s main interest rate will rise from its record low of 0.5% soon. The interest rate has been at that level since 2009. But Dominic Rossi, the global chief investment officer of equities at the world’s second largest fund manager, Fidelity, told the BBC in an...
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