Bets are on for UK interest rates to rise next year, but this is not bothering ultra-wealthy home buyers.
British Land, the UK property developer, has claimed it has set “new records” for home prices in Mayfair. The developer has sold £210m worth of apartments in its Clarges Mayfair development overlooking Green Park and Buckingham Palace for £4750 per square foot.
The 18 units have been snapped up years before the development is set to be finished.
British Land said the office element of Clarges would be completed in 2016, with the residential properties ready by 2017.
Having released some 46 Turkish hostages, because “Turkey refused to agree to the US demand for ‘active support of the coalition‘,” ISIS has come out swinging in its first ‘official’ statement since President Obama unveiled his ‘strategy’ for “degrading and destroying” them, with a call for all followers of Allah to make the coalition campaign the “last crusader campaign,” and calls Obama “vile”, more foolish than Bush, and a “mule of the Jews.” Warning Americans and Europeans that “you will pay a great price, when your economies collapse,” ISIS blasts Kerry, “the uncircumcised old geezer,” for his “false arguments.” The statement concludes by telling ISIS followers, “if you can kill a disbelieving American or European – especially the spiteful and filthy French - or an Australian, or a Canadian, or any other disbeliever from the disbelievers waging war, including the citizens of the countries that entered into a coalition against the Islamic State, then rely upon Allah, and kill him in any manner or way however it may be.”
As Al-Monitor reports,Forty-nine staff members of the Turkish Consulate in Mosul (three of whom are Iraqi nationals) who were taken hostage June 11 by the Islamic State (IS) were freed at 6:30 a.m. Sept. 20. Details of the operation are slowly emerging.
Interesting reports surfaced on the Takvahaber news website, which is identified as the IS mouthpiece in Turkey. According to one Takvahaber report, which was based on the Twitter account of Abu Bakr al-Baghdadi, the IS caliph, the decision to release the hostages was personally approved by Baghdadi after Turkey refused to agree to the US demand for “active support of the coalition.”…
“Do you know the difference between poverty and misery?” asked the German Ambassador to India. It was a stunning but unexpected question to be asked of me on a very balmy afternoon at Delhi’s plush ITC Maurya, as I sat sipping iced tea at the height of summers some 20 years ago. “What do you mean?” I blurted. “Your people are not just poor they are miserable” said the honourable Ambassador one of the then longest serving German Ambassador to India.
Two decades later, that question resounds even louder. As population multiplies quantum fold, the number of people joining the ranks of poor is exceeding those getting pulled out of poverty. Who is to be blamed? I see two possibilities-the people themselves and the Government led by a stifling bureaucracy. Relying upon hope, prayer and fate is one thing, destroying it by relying upon the aforementioned three factors is an individuals prerogative.
The role of bureaucracy and the Electronic media is the worst. There was a CAG who in the garb of a Government Audit was advising “policy” to the Government. A very selective policy where Telecom and Coal were to ought have been sold through Auctions, but one who kept silent on a huge number of resources like Water, Electricity, Petroleum, Food and Transport where everything was being subsidised. The Media, full of duds, played up the 2G and Coal scams and ensured the fall of a Government which was as moribund as the one in Power today.
Since Thursday, one privately owned channel (incidentally except prasar bharati all media in India is privately owned) has been playing up the PMs interview. The speed at which excerpts have been repeated and the time they have taken in the 20 minute news broadcasts have been as substantive as the fussilade of Advertisements that blitzed the screens before the 2014 General Elections, and brought a new Government to power.
Without taking away the masterful skills of PM Modi, the new Government too was brought about on hope, prayer and fate. Four months later, people are moving to despondency. Huge swathes of the nation are covered in filth, grime, disease, crumbling homes and cities and will remain so. It is alright to hand people “hope”, but that alone cannot take away “Misery”. Stock market gains are the creation of financial manipulation, but poverty and misery are the reality. The aspirations of people need solid ground work sans a reticent, grumpy bureaucracy. Good media does not mean good politics, neither does it bring “less misery”.
While Alibaba (BABA) is not an S&P 500 company, it would currently rank as the 13th largest company in the index if it were included. At $224 billion, BABA is $17 billion bigger than the 13th largest S&P 500 stock — Verizon (VZ), and $5 billion smaller than the 12th largest S&P 500 stock — Procter & Gamble (PG).
Below is a list of the $100+ billion companies in the S&P 500. As you can see, BABA is bigger than the likes of Facebook (FB), IBM, Coca-Cola (KO), Intel (INTC), Disney (DIS), Pepsi (PEP), and of course, Amazon.com (AMZN) — the US version of Alibaba.
You’d think that the US dollar has suddenly become strong, and the chart below of the other three major currencies appears to confirm it.
The US dollar is the risk-free currency for international accounting, because it is the currency on which all the others are based. And it is clear that three months ago dollar exchange rates against the three currencies shown began to strengthen notably.>> Read More