Business And Finance

Bitcoin is fiat money, too

FINANCIERS with PhDs like to remind each other to “read your Kindleberger”. The rare academic who could speak fluently to bureaucrats and normal people, Charles Kindleberger designed the Marshall Plan and wrote vast economic histories worthy of Tolstoy. “Read your Kindleberger” is just a coded way of saying “don’t forget this has all happened before”. So to anyone invested in, ...

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Sleep pods are becoming increasingly common at airports

IN THEORY, overnight air travel should be wonderfully convenient. Instead of booking a hotel for the night and losing a day, travellers simply sleep while they fly. In reality, sleeping on a plane is hard, and at an airport tougher still. The chairs in terminals, nobody’s idea of comfort to begin with, tend to have armrests that make splaying out ...

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Online matchmaking businesses in India have many ways to woo

Arranged by algorithm “IT WAS 2012…I was number 37,” says Ashwini, referring to the badge that was pinned on her shirt pocket. Her task was to go onto the stage and introduce herself to around 70 eligible bachelors and their parents. Families then conferred and, provided caste and religious background proved no obstacle, would approach the event’s moderator asking to ...

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The case against shrinking the Fed’s balance-sheet

AS EXPECTED, the Federal Reserve announced on September 20th that it will soon begin reversing the asset purchases it made during and after the financial crisis. From October, America’s central bank will stop reinvesting all of the money it receives when its assets start to mature. As a result, its $4.5trn balance-sheet will gradually shrink. However, the Fed did not ...

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Ryanair’s mass cancellations are a problem of its own making

WHEN Ryanair convinced many of its pilots to take fewer holidays during peak summer-travel season, it probably thought it was being clever. But poor planning and a bit of bad luck have left the airline with a shortage of working pilots, many of whom have now taken time off, for the autumn. The shortfall has forced Ryanair to cancel some ...

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Is Margrethe Vestager championing consumers or her political career?

EVEN her enemies admire the bloody-mindedness of Margrethe Vestager, the European commissioner in charge of competition policy. Last autumn, not long after she had ordered Apple to pay €13bn ($14.5bn) in back-taxes to Ireland, to the fury of many in America, she flew across the Atlantic on a charm offensive. The Americans were not charmed; Ms Vestager was unmoved. Buckling ...

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Why do European companies bother to hire ex-politicians?

THIS month Gerhard Schröder starts a new job. Shareholders in Rosneft, a Russian energy giant with a market value of nearly $60bn, are set to appoint Germany’s ex-chancellor as a board director on September 29th. Russia’s government, Rosneft’s majority-owner, nominated Mr Schröder, who is pals with Vladimir Putin. Despite Western sanctions imposed on the firm after Russia’s invasion of Ukraine ...

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New rail routes between China and Europe will change trade patterns

ASTANA in Kazakhstan is one of the world’s most remote capitals, surrounded by thousands of kilometres of empty steppe. This summer Astana attempted to launch itself onto the global stage by hosting the World Expo, which closed on September 10th and underwhelmed many attendees. But there are other ways to have an impact. On the city’s north side, away from the ...

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