Posted by Ravi Gulati | Posted in Uncategorized | Posted on 30-01-2014
The American economy finished 2013 on a healthy note, buoyed by strong consumer spending along with an improved trade picture, spurring hopes that the momentum will continue into this year.
Brisk 4th Quarter Lifts Hopes for Economy in 2014 – NYTimes.com.
Posted by Ravi Gulati | Posted in Uncategorized | Posted on 29-01-2014
FRANKFURT — Emergency measures by Turkey and South Africa to stop a headlong flight of foreign investors had little effect on Wednesday. The financial markets all but ignored increases in official interest rates aimed at strengthening the countries’ currencies.
Investors Still Wary of Efforts to Shore Up Currencies – NYTimes.com.
Posted by Ravi Gulati | Posted in Uncategorized | Posted on 25-10-2013
t’s natural for young families to face financial pressures as they juggle the cost of housing and kids.
But today, they live in a vise. On one side, a housing market that can be astronomically expensive for first-time buyers. On the other, daycare costs.
The real parent trap: daycare costs – The Globe and Mail.
Posted by Ravi Gulati | Posted in News of Interest, Uncategorized | Posted on 11-09-2013
In 2010, Eike Batista announced that he would soon become the world’s richest man, and it didn’t seem particularly hyberbolic. Brazil’s economy was thriving, and investors around the world were lining up to invest in his commodities empire, which consisted of six highly successful public Brazilian companies, including OGX, the country’s second largest oil company, and MMX, one of its largest miners. By 2012, his wealth stood at some $30 billion, making him the seventh-richest man in the world.
And then the last 18 months happened.
Amidst Brazil’s economic slowdown, Batista’s net worth hasn’t merely tumbled—it’s evaporated. Batista isn’t vying for the richest man any longer, or for a place among the world’s top 100, or even among its billionaires. According to estimates by Forbes, his worth has now dropped to an estimated $900 million, a 97% drop.
How Brazil’s richest man lost 97% of his fortune in less than two years – Quartz.