Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-56176 Thu, 26 Feb 2015 18:51:23 GMT The New Class War: European Banks vs. Greek Labour iehi-feed-56175 Thu, 26 Feb 2015 16:38:15 GMT Greece to stop privatisations as Syriza faces backlash on deal Greece's Left-wing Syriza government has vowed to block plans to privatise strategic assets and called for sweeping changes to past deals, risking a fresh clash with the eurozone's creditor powers just days after a tense deal in Brussels.

"We will cancel the privatisation of the Piraeus Port," said George Stathakis, the economy minister. "It will remain permanently under state majority holding. There is no good reason to turn it into a private monopoly, as we made clear from the first day.

iehi-feed-56174 Thu, 26 Feb 2015 16:19:54 GMT ​Kiev introduces rationing, as falling hryvnia causes shopping binge iehi-feed-56172 Thu, 26 Feb 2015 16:08:56 GMT Nicaragua Grand Canal: Chinese-built waterway generates lots of questions The canal would need to generate an annual income of about $5 billion, explained Sabonge. But the Panama Canal, with a transit of 13,482 ships, carrying 327 million tons, generates annual revenue of only about $2 billion, according to 2014 figures.

Naturally, the lack of an apparent financial feasibility has raised questions about whether the Nicaragua Grand Canal is a commercial project for HKND--or a geopolitical project for the Chinese government.

"If an investor doesn't see that there's a viable option, or demand out there to make a profit, they wouldn't make an investment. That leaves the question of maybe it's coming from the government," said Chang Qian Guan, a professor at the U.S. Merchant Marine Academy.

iehi-feed-56171 Thu, 26 Feb 2015 16:01:45 GMT France Gets More Time to Meet E.U. Budget Rules (Greek Revolt Turns Tide?) iehi-feed-56169 Thu, 26 Feb 2015 02:26:09 GMT Morgan Stanley to pay $2.6 billion to settle mortgage-bond claims iehi-feed-56168 Wed, 25 Feb 2015 21:43:03 GMT Big Banks Face Scrutiny Over Pricing of Peecious Metals Prosecutors in the Justice Department's antitrust division are scrutinizing the price-setting process for gold, silver, platinum and palladium in London, while the Commodity Futures Trading Commission has opened a civil investigation, these people said. The agencies have made initial requests for information, including a subpoena from the CFTC to HSBC Holdings PLC related to precious-metals trading, the bank said in its annual report Monday.


Also under scrutiny are Bank of Nova Scotia , Barclays PLC, Credit Suisse Group AG , Deutsche Bank AG , Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Société Générale SA, Standard Bank Group Ltd. and UBS AG , according to one of the people close to the investigation.

iehi-feed-56167 Wed, 25 Feb 2015 21:37:56 GMT Kick-The-Can Has Morphed Into A Blatant Farce - David Stockman iehi-feed-56166 Wed, 25 Feb 2015 21:35:13 GMT Report: Bank of England Admits 22% of Austria's Gold is "Unallocated" (NOT THERE!) iehi-feed-56165 Wed, 25 Feb 2015 17:43:29 GMT "This Shorting Opportunity Is As Great As 2007-2009", Billionaire Crispin Odey Warns iehi-feed-56164 Wed, 25 Feb 2015 17:42:20 GMT This Is Why Hewlett-Packard Is Firing 58,000 iehi-feed-56163 Wed, 25 Feb 2015 17:41:35 GMT US Economic Confidence Tumbles Back Into Negative Territory As "Hope" Fades US Macro Crashes Near 1-Year Lows, February Running At 90% Data Miss Rate .]]> iehi-feed-56161 Wed, 25 Feb 2015 15:55:38 GMT Yellen navigates tricky path on interest rates iehi-feed-56160 Wed, 25 Feb 2015 15:54:07 GMT Whatever Became of Economists and the American economy--Paul Craig Roberts iehi-feed-56159 Wed, 25 Feb 2015 15:52:10 GMT Emma Thompson and her husband refuse to pay 'a penny more' in taxes until the HSBC tax evaders go to jail "I want to stop paying tax, until everyone pays tax," Wise told the Evening Standard. "I have actively loved paying tax, because I am a profound fucking socialist and I believe we are all in it together. But I am disgusted with HMRC. I am disgusted with HSBC. And I'm not paying a penny more until those evil bastards go to prison."

HMRC has come under fire in the HSBC scandal because of a failure to carry out a criminal investigation against the bank, which has its headquarters in the UK. While the agency found more than 1,000 tax evaders among the almost 7,000 UK clients of HSBC Suisse, only one individual has been prosecuted. About £135m has been recovered in tax, a lower figure than in other European countries.

Probably not a bad idea for the US as well...

iehi-feed-56158 Tue, 24 Feb 2015 19:20:58 GMT JPMorgan tops list of risky banks: government study iehi-feed-56157 Tue, 24 Feb 2015 19:19:36 GMT This Is The Biggest Problem Facing The World Today: 9 Countries Have Debt-To-GDP Over 300% iehi-feed-56156 Tue, 24 Feb 2015 19:16:33 GMT Three EU dreams that have turned into nightmares iehi-feed-56154 Tue, 24 Feb 2015 19:07:19 GMT Donetsk separatists eye key port of Mariupol as determination grows iehi-feed-56153 Tue, 24 Feb 2015 18:51:49 GMT Yellen Faces Congress Amid Direst Threat to Fed Since 2010