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JPMorgan record settlement $13bn

A JPMorgan record settlement of $13 billion with the US Department of Justice has been agreed regarding serious mispresentations to the public about several residential mortgage backed securities (RMBS) transactions. JPMorgan Chase added…

Global GDP growth revised down, OECD

The OECD has revised its global GDP growth forecast for 2013 to 2.7% from 3.1% in May. However, the Organization for Economic Co-operation and Development (OECD) says world economic growth will accelerate by the end of 2014. Although global…

Minimum wage and crime rates not linked

Most people believe that by raising the minimum wage crime rates would go down, but this appears to be a myth. Researchers at the University of Cincinnati criminal justice program and Texas Public Policy Foundation found that a higher…

Chinese ghost cities

Housing prices in China almost tripled between 2005 to 2009 and residential housing investment as a share of China's GDP  also tripled, from 2% in 2000 to 6% in 2011.  The consultancy firm GaveKal says that after 10 years of under-supply,…