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Uber London ban: Sadiq Khan's decision shows capital CLOSED for business, economist says

  • Uber London ban: Sadiq Khan's decision shows capital CLOSED for business, economist says FOU: Uber London ban: Sadiq Khan’s decision shows capital CLOSED for business, economist says

    Sam Dumitriu, research economist at the Adam Smith Institute, said: “TfL is choosing to punish the 3.5 million Londoners who regularly use Uber just because it’s cheaper, it’s safer, and it’s quicker.”This decision jeopardises the livelihoods of 40,000 drivers who choose to use the app because it gives them valuable…

  • The definitive Wall Street scorecard is out — and Goldman Sachs is slipping FOU: The definitive Wall Street scorecard is out — and Goldman Sachs is slipping

    The latest ranking of Wall Street supremacy is out, and there’s a notable shift at the top of the league tables. JPMorgan once again dominated the competition in the first half of the year for revenue across fixed income, equities, and banking, according to the data-analytics company Coalition. The largest…

  • REPORT: China tells its banks to stop doing business with North Korea FOU: REPORT: China tells its banks to stop doing business with North Korea

    China reportedly told its banks to stop doing business with North Korea. The People’s Bank of China, the country’s central bank, told banks to “strictly implement United Nations sanctions against North Korea,” four sources told Reuters. Reuters added that banks were “told to stop providing financial services to new North…

  • Rubicon — a macro hedge fund in London — has lost a third of its value this year FOU: Rubicon — a macro hedge fund in London — has lost a third of its value this year

    NEW YORK – Rubicon Fund Management, a large London hedge fund focused on trading around global economic events, has suffered a 33.2% loss in its flagship fund this year. The losses were disclosed in investor documents reviewed by Business Insider. Ross Gillam, a spokesman for Rubicon at external PR firm Instinctif Partners, declined to comment.In a…

  • A $1.6 billion rival to Oracle and Amazon just filed to go public (ORCL) FOU: A $1.6 billion rival to Oracle and Amazon just filed to go public (ORCL)

    MongoDB, a New York-based database startup reportedly valued at $1.6 billion, officially filed for its IPO on Thursday afternoon.  In August, TechCrunch reported that MongoDB had confidentially filed the paperwork to go public, taking advantage of new SEC rules. The fact that this paperwork appeared publicly on the Securities Exchange Commission’s…

  • Trump Team Readies for Nafta Fight Over Making Goods in America FOU: Trump Team Readies for Nafta Fight Over Making Goods in America

    The rules for automobiles, for example, require 62.5 percent of the value of a car must be manufactured in Canada, Mexico or the United States for the automobile to move between the countries, duty-free. That means a car could source up to 37.5 percent of its value from a country…

  • Euro jumps after better than expected French and German economy data FOU: Euro jumps after better than expected French and German economy data

    The euro jumped to 1.99 against the US dollar after output in services and manufacturing jumped to 56.7 in September from 55.7, according to the respected IHS Markit’s Flash Composite Purchasing Managers’ Index for September. The survey is seen as a good guide to economy performance, with a reading above 50…

  • Fetal deaths rose 58% after Flint switched to lead-poisoned water FOU: Fetal deaths rose 58% after Flint switched to lead-poisoned water

    Fetal deaths rose and fertility rates dropped after Flint, Michigan switched to lead-poisoned water. That is according to a new working paper by economists Daniel Grossman of West Virginia University and David Slusky of Kansas University. The authors found that fetal deaths — pregnancies that lasted at least 20 weeks but…