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Aramco: Here’s everything you need to know about the world’s most profitable company’s debut bond

The world’s most profitable company, Saudi Aramco, smashed expectations to secure a debut bond issue with lower yields than the Saudi Arabian government, which owns the company. That implies, counterintuitively, that investors regard the company as being less risky than the government which owns it. Aramco’s offer drew more than $100 billion in orders on…


‘Arrogant’ Bitcoin Fans are ‘Totally Clueless’, Rants Crypto-Hating Roubini

‘Arrogant’ Bitcoin Fans are ‘Totally Clueless’, Rants Crypto-Hating Roubini

Bitcoin is an “exponential, parabolic bubble,” and bitcoin investors are “arrogant, ignorant, clueless” zealots and fanatics. That’s the opinion of avowed crypto-hater Nouriel Roubini, an economics professor at New York University.Roubini made the remarks in an interview with the CFA Institute, where he again trashed cryptocurrencies as worthless and its proponents as mouth-breathing morons.Bitcoiners are…


Microsoft: It would be cruel to stop government agencies using facial recognition software

Microsoft: It would be cruel to stop government agencies using facial recognition software

A top Microsoft executive has said that stopping government agencies from using facial recognition software would be “cruel in its humanitarian effect.” More than 85 human rights groups wrote to Microsoft, Amazon, and Google last month demanding they stop selling facial recognition software to the public sector, fearing it will lead to government surveillance. Business


A billionaire investment chief at the world’s biggest hedge fund explained to us why the economy is headed for ’20 years of ugliness’ — even if a major recession is avoided

A billionaire investment chief at the world’s biggest hedge fund explained to us why the economy is headed for ’20 years of ugliness’ — even if a major recession is avoided

DAVOS, Switzerland — Not all economic recessions are created equal. While that may seem like an obvious statement, the nuances that have separated meltdowns throughout history often go overlooked when negative headlines abound. That’s why it can be so easy to see a recession warning and immediately think of the 2008 financial crisis, which was…


UBS CEO Sergio Ermotti Basically Admits Equities Are A Ponzi Scheme

UBS CEO Sergio Ermotti Basically Admits Equities Are A Ponzi Scheme

Chief Executive Officer of UBS Sergio Ermotti attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 24, 2019. REUTERS/Arnd Wiegmann Speaking at a CNBC panel at the World Economic Forum in Davos, Sergio Ermotti, the chief executive officer of Swiss bank UBS said the massive December sell-off was the result of political…



‘UNPRECEDENTED DANGER’: Billionaire investor George Soros just went scorched earth on China during his annual Davos speech

‘UNPRECEDENTED DANGER’: Billionaire investor George Soros just went scorched earth on China during his annual Davos speech

George Soros, the billionaire investor and chairman of Soros Fund Management, delivered his annual speech at the World Economic Forum’s Annual Meeting in Davos, Switzerland. Soros absolutely unloaded on China and President Xi Jinping, warning the audience of the “unprecedented danger” the world faces at the hands of the emerging nation. Soros also doubled down…


China ‘absolutely necessary’ for Ontario Teachers’, CEO says

China ‘absolutely necessary’ for Ontario Teachers’, CEO says

Ontario Teachers’ Pension Plan has a long-term plan for China that’s unlikely to be derailed by political tensions, its chief executive officer said.“China’s a long game from our perspective and while there’s always skirmishes of one kind or another, in the short term, we believe that it’s absolutely necessary to be there,” Ron Mock said…


Humanity Can’t Survive Digital Age Without Crypto: Circle CEO Jeremy Allaire

Humanity Can’t Survive Digital Age Without Crypto: Circle CEO Jeremy Allaire

Circle co-founder Jeremy Allaire said that the world needs cryptocurrency to survive the digital age. | Source: DLDconference/YouTube By CCN.com: Circle CEO Jeremy Allaire says humanity can’t survive the digital age without crypto because its decentralized nature and resiliency make it indispensable. Allaire made the remarks at the 2019 World Economic Forum in Davos, Switzerland. Allaire says…


A $2 trillion investment chief at Davos reveals a massive trade-war risk everyone is missing — and shares how his firm is protecting itself

A $2 trillion investment chief at Davos reveals a massive trade-war risk everyone is missing — and shares how his firm is protecting itself

DAVOS — When Mark Haefele thinks about the ongoing trade war between the US and China, he’s not necessarily focused on the tit-for-tat tariffs that have been levied. He’s more worried about the bigger picture. In Haefele’s mind, that means the technological arms race that’s spurred the entire trade conflict in the first place. Both…