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Finance
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It Turns Out Billionaires Are Just Smarter Than You
18 Apr 2013 by Jasmine Stone / 2 Comments
New studies show that the billionaires of this world didn’t get to where they are by luck, or even hard work, alone. It turns out that people who get really, really rich are basically just smarter than you.
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The 2008 Financial Crisis Was Caused By Bankers On Cocaine Binges – Professor
15 Apr 2013 by Jasmine Stone / No Comments
The British Government’s former top advisor on narcotics, Professor David Nutt has claimed that the global financial crisis of 2008 was caused by widespread overuse and abuse of cocaine in the finances industry.
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This Cartoon Showing The Difference Between Bitcoin And Other Investments Is Genius
15 Apr 2013 by Jasmine Stone / 1 Comment
You’ll have heard a lot of finance types talking down the usefulness of Bitcoin as a currency, and/or a commodity in the last few weeks. The guys over at the Joy of Tech have nailed the central thesis of why no one’s listening to those Finance types
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Obviously Zuckerberg’s Nemeses, The Winklevoss Twins, Own 1% Of Bitcoin
12 Apr 2013 by Jasmine Stone / No Comments
Identical twins, Tyler and Cameron Winklevoss have amassed the single largest portfolio of online currency over the last six months, and it’s all in Bitcoins. The Winklevii, as they are better known, say they own nearly 1% of all available Bitcoins.
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Nelson Mandela’s Daughters Fight To Remove Prominent Figures From Boards Of Mandela-Related Investment Funds
11 Apr 2013 by Jasmine Stone / 3 Comments
Two of Nelson Mandela’s daughters have filed a court application to have three board members – George Bizos, Tokyo Sexwale and Bally Chuene – removed from their posts, citing they were never officialy appointed.
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Everything You Want To Know About BITCOINS – Spending, Buying, Selling
08 Apr 2013 by Seth Rotherham / No Comments
It won’t be long before your mother starts asking questions about Bitcoins – that’s how big this thing has blown up in recent weeks. So best you prepare to answer all her questions, with this handy guide.
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The Offshore Secrets Of The World’s Super Wealthy
05 Apr 2013 by Jasmine Stone / 2 Comments
Yesterday, literally thousands of financial secrets regarding offshore accounts of the super wealthy were leaked. The “largest journalism collaboration in history” involved nearly 100 reporters sifting through 2,5 million documents which detailed the identities and activities of 120 000 offshore companies.
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BRICS Nations Give The Middle Finger To The World Bank – Plan To Start New Development Bank
27 Mar 2013 by Jasmine Stone / No Comments
The Brics nations of Brazil, Russia, India, China and South Africa are aiming to establish a new development bank during the annual conference which began yesterday in Durban. The leaders of each of the five developing countries will discuss bringing together foreign currency reserves to ward off balance of payments or currency crises. Martyn Davies, […]
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Holy Cash: Understanding The Finances Of The Vatican
20 Mar 2013 by Jasmine Stone / No Comments
Pope Francis is the new leader of 1,2 billion Catholics. But he’s also the man in charge of the Vatican’s finances. Former pope, Benedict made progress in reforming the Vatican Bank by replacing the president and creating a financial-intelligence committee after allegeations of abuse and mismanagement spanning decades. Recent controversy Modern controversy surrounding the bank […]
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HSBC Faces Fresh Set Of Money Laundering Allegations
19 Mar 2013 by Jasmine Stone / No Comments
Banking Giant, HSBC has a fresh set of allegations of illegal activity in Argentina to answer to. The Argentinian government alleges HSBC used “fake receipts” to facilitate money laundering and tax evasion to the tune of $77 million (R706 million) in that country. Argentina’s tax authority has filed criminal charges against HSBC. HSBC said they […]
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Malema Misses R16 Million SARS Debt Deadline
19 Mar 2013 by Jasmine Stone / 1 Comment
The future is not looking that bright for Ju-Ju. Julius Malema has missed the deadline to file challenges to SARS’ application for the sequestration of his estate to cover the R16 million tax debt bill. Court documents dated 14 March 2013 said Malema “failed to file an answering affidavit and the application is therefore set […]
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Use Google Maps To See Where Rich And Poor People Live In South Africa
11 Mar 2013 by Seth Rotherham / No Comments
We spotted an article on BusinessInsider about a Reddit post which showed a search for high and low end retailers, as a way to define a city’s rich and poor areas. We did the same thing, pitting Woolworths against Shoprite. Here are the results:
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Motlanthe Defends Funding Christmas Holiday With Public Money
07 Mar 2013 by Jasmine Stone / 7 Comments
Apparently Deputy President, Kgalema Motlanthe thinks it’s okay to use public money to foot the bill for transport and security costs of his Seychelles Christmas vacation. And according to Motlanthe, the use of public money was in line with government policy. Democratic Alliance MP, David Maynier posed a question to Motlanthe in the National Assembly, […]
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Saudi Prince Outraged By Forbes – Claims To Be Much Wealthier Than Reported
05 Mar 2013 by Jasmine Stone / 2 Comments
What’s a few billion dollars between friends? A lot, according to Saudi Arabia’s Prince Alwaleed Bin Talal, who is challenging Forbes’ ranking of his wealth. Forbes reported the prince’s wealth to be a staggering $20 billion (R181 billion), ranking him at 26 on the Forbes Richest List. But Prince Alwaleed Bin Talal said he has a […]
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Get Up To Speed: The 2013 Budget Speech – In English This Time!
28 Feb 2013 by Jasmine Stone / No Comments
We caught up with 2oceansvibe Media’s accountants, Galbraith Rushby, who gave us this thorough analysis on the 2013 Budget Speech and what it means for you and me. In English that you can understand! Click for more.
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China’s Version Of Dubai Is An Economic Ghost Town
27 Feb 2013 by Jasmine Stone / No Comments
A man made island of sail-shaped skyscrapers surrounded by tropical seas was billed to be China’s Dubai. But unlike Dubai, Phoenix Island has not been able to rise from the ashes. Property on Phoenix Island is considered a bad investment in light of the recent economic downturn. With China’s unstable economy proving to be crippling for the […]
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J.P. Morgan Chase Will Cut 17 000 Jobs Over The Next Two Years
27 Feb 2013 by Jasmine Stone / No Comments
Banking giant and international doer of evil, J.P. Morgan Chase confirmed yesterday during an event for investors at its Midtown Manhattan headquarters that it plans to cut 17 000 jobs over the next two years while committing to a program of global expansion. With a current workforce of approximately 260 000, the bank plans to […]
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[UPDATED] Amplats Plans To Cut 14 000 Jobs, Government Is Shocked, Workers Strike
16 Jan 2013 by Jasmine Stone / No Comments
Gasp, horror, shock. The poor government didn’t see that vast amounts of jobs would be lost as a result of their poor management of an on-going crisis in the mining sector in South Africa.
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Radvertising: Insurance Company Stages Heart Crushing Proposal Rejection In Cinema [VIDEO]
04 Dec 2012 by Seth Rotherham / No Comments
Shhhh! This video will self-destruct within zero-zero-seven seconds of viewing. One of our agents caught this top secret footage at this weekend’s South African release of Skyfall, the latest film in the Bond series.
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MTN And Pick N Pay Launch Mobile Bank
22 Nov 2012 by Jasmine Stone / No Comments
Launching this morning, MTN and Pick n Pay have teamed up to give South Africa an all new mobile money banking system.
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Corculture: South Africa’s Answer To Dragon’s Den – Let Private Equity Take Your Business To The Next Level
15 Nov 2012 by Seth Rotherham / No Comments
Have you ever watched that TV programme called Dragon’s Den? Well, Corculture is South Africa’s answer to this. If you’re an entreprenuer like me and you want to take your company to the next level – this is what you’re looking for. Trust me..
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This Is How Google Makes Over $100 Million A Day [Infographic]
30 Oct 2012 by Jasmine Stone / 1 Comment
As one of the world’s biggest and most successful companies, it’s no surprise that Google is pretty much the first place people look when they’re considering online advertising. But, what exactly does that mean for the search giant? As it turns out, it means money, lots and lots of money.
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Foreign Direct Investment Into South Africa Falls Nearly 50% In A Year
24 Oct 2012 by Jasmine Stone / No Comments
This can’t be linked to the recent strike turmoil in the country, but it’s still a reflection of heightened global economic uncertainty. It should also serve as a wake up call to those involved in wasteful spending, but it probably won’t.
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The Government Blew R4,6 Billion On Catering, Entertainment And Travelling
16 Oct 2012 by Jasmine Stone / 4 Comments
Over the past few weeks the government departments financial results have been doing the rounds in Parliament and, amongst other findings, it was revealed that local goverment has spent R4,67 billion on food, entertainment and travel and accommodation.
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Rich Dad, Poor Dad Author Files For Bankruptcy
12 Oct 2012 by Jasmine Stone / 4 Comments
Well this is embarrassing, Robert Kiyosaki has filed for corporate bankruptcy after being ordered to pay out almost $24 million following a US court ruling.
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Moody’s Has Downgraded SA’s Five Biggest Banks
04 Oct 2012 by Jasmine Stone / No Comments
Moody’s announced today that, following the revision of the country’s foreign currency desposit ceiling, it had downgraded South Africa’s five biggest banks. This comes only days after the ratings agency downgraded SA’s government bond rating.
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SAA Hemorrhages Executives As Chairwoman And Six Board Members Resign
28 Sep 2012 by Jasmine Stone / 1 Comment
Cheryl Carolus and six other SAA board members resigned yesterday, plunging the state-vested airline into yet more turmoil.
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SAA: Financial Statements Six Months Late, AGM On Hold In Bid To Secure Bail-Out
27 Sep 2012 by Jasmine Stone / 1 Comment
Somehow SAA has managed to fail to produce its annual report on time – six months after its year-end. Its claiming it needs to address its “immediate financial challenges” before auditors can complete the financial statements.
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Greece’s Budget Shortfall Now Totals 20 Billion Euros, Nearly Double Estimate
25 Sep 2012 by Jasmine Stone / No Comments
Well, this isn’t good news for Greece, especially as they have to reduce that budget deficit before they can get the next tranche of cash that has been promised to them.
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US Debt Reaches $16 Trillion, Eclipses Economy
04 Sep 2012 by Jasmine Stone / 1 Comment
The US government is on the verge of announcing its $16 trillion debt, a figure that is 104% of the nation’s gross domestic product. That’s right folks, the US’s debt has officially overtaken its economy.
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