In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
The Iranian Intelligence Ministry held a briefing on Monday where they announced the alleged spies were Iranian citizens but trained by the CIA.World Newsread more
Equifax will pay at least $575 million, and potentially as much as $700 million, to settle allegations over its massive over 2017 data breach, U.S. regulators said in a...Technologyread more
The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
Two traders say Boeing's on the path to recovery.Trading Nationread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
The U.K. will find out who its next prime minister will be this week as voting within the U.K.'s ruling Conservative Party comes to a close.Europe Politicsread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Stocks in Asia were lower on Monday, as shares on a new Nasdaq-style technology board on the Shanghai Stock Exchange skyrocketed on their debut day.Asia Marketsread more
Veteran U.S. economist Larry Summers says that "it's time to go after big money," in his latest column for The Washington Post.
But rather than going after the top 1 percent, the former chief economist of the World Bank is backing calls for removing the 500 euro and $100 bills from circulation.
Summers argues that the fact that "in certain circles the 500 euro note is known as the 'Bin Laden,'" is exactly the reason why it should no longer be printed; pointing to the illicit activities associated with the bill to give it such a nickname.
"A moratorium on printing new high denomination notes would make the world a better place. In terms of unilateral steps, the most important actor by far is the European Union. The €500 is almost six times as valuable as the $100," writes Summers.
Last week Peter Sands, the former head of Standard Chartered Bank and now senior fellow at the Harvard Kennedy School, published a paper stating that eliminating high-value notes that are rarely used would help deter tax evasion, financial crime, terrorism financing and corruption.
In his column, Summers calls for a ban on printing notes worth more than $50 or $100 USD.
"Such an agreement would be as significant as anything else the G7 or G20 has done in years," states Summers.