BUSINESS

New York City

New York Property Bubble Close to Bursting, Says Portfolio Manager

A U.S. portfolio manager claimed New York's property bubble could pop due to a rise in demand, a great deal of foreign transactions (led by the Chinese), and a loophole in the Foreign Investment in Real Property Tax Act (FIRPTA), which imposes tax obligations on foreign investors, according to a commentary published on CNBC.
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Four thousand U.S. dollars are counted out by a banker

New Regulations Unlikely to Democratise Interest-Rate Trading

A study by data provider Greenwich Associates concludes that regulators are unlikely to achieve their goal of creating a fixed-income market that is less dependent on a few massive banks. The findings were made after Greenwich interviewed 1,067 institutional investors from North America.
U.S President Barack Obama hugs first lady Michelle as they watch the Diamond Head basketball game between Oregon State and Akron during their Christmas vacation in Honolulu

Ebola Outbreak: Obama Thumbs Down Sending Experimental Serum to Africa

U.S. President Barack Obama has quashed calls of health experts to send to Africa the experimental ZMapp serum that was given to two Ebola-inflicted American health workers. The president thumbed down the proposal saying the drug still needs further testing if it indeed is working as it should.
Asian stock market

Australian Stock Market Report – Midday August 7, 2014

Another tough day for the Aussie markets, we saw the ASX 200 started only slightly weaker off 2pts. But by 11.25am the markets had fallen back by 14 points and just after the release of the weaker than expected July Jobs numbers the market lost more ground now down 18.6 points.

New Zealand Unemployment Rate Beats Economists' Predictions at 5.6%

New Zealand's unemployment rate has fallen to its lowest level in more than five tears at 5.6 per cent in the second quarter. According to Statistics New Zealand's Household Labour Force Survey released on August 6, the country's seasonally adjusted unemployment rate was below Wall Street Journal's 5.8 per cent poll prediction by 14 economists. The 5.6 per cent unemployment rate is the lowest since March 2009.
Italy

Global Markets Overview – August 7, 2014

Russia has responded to EU and US sanctions by placing heavy restrictions on food imports from countries that have imposed sanctions on Russia over the past few months.
Euro and U.S. dollar banknotes

Cash Buyers Overheat Oakland Real Estate Market

Temperatures continue to rise in Oakland's already hot real estate market due to cash buyers, the Oakland Local reported. According to the report, real estate practitioners saw a great deal of cash transactions in the market, compared with similar activities more than a decade earlier during the U.S. housing bubble.
West, Russia Signal Line Drawn in Ukraine Crisis

Australian Stock Market Report – Midday August 6, 2014

The weakness continues this month, with the Australian market slipping for the fourth day following softer American shares overnight. The All Ordinaries Index (XAO), which is a measure of local market performance is down by 0.3 per cent and is trading below 5500pts for the first time in three weeks. Geopolitical risks in Ukraine and Russia continue to keep investors on edge, with reports of an increase in Russian troops on Ukraine's border.
An airplane carrying American doctor Kent Brantly who has the Ebola virus, arrives at Dobbins Air Reserve Base in Marietta, Georgia on Aug. 2, 2014. The same plane is now carrying the second Ebola patient Nancy Writebol.

Ebola Apocalypse: Hope Remains in Secret Serum, Could Avert Apocalyptic Style Plague

More than the disease itself, global health experts are on their toes monitoring the spread of the Ebola virus because it has already managed to infiltrate urban areas. This year's outbreak has been dubbed the worst outbreak yet since it was first identified in the 1970s. But hope remains in the experimental serum administered to two infected American patients.
Armed pro-Russian separatists stand guard at a crash site of Malaysia Airlines Flight MH17, near the village of Hrabove

Global Markets Overview – August 6, 2014

Markets overnight were moving along in a fairly routine fashion, after having seen slightly positive data from Europe and the US. This lead to Europe recovering from four days of losses and the US market moving slightly in the red after having rallied on Monday.
A woman walks past a Singapore Airlines (SIA) logo at a ticketing booth at Changi airport in Singapore May 14, 2013. Singapore Airlines Ltd, caught between the rapid emergence of Gulf carriers and low cost Asian rivals, is attempting a big strategy overha

Singapore Airlines Flight SQ351 Minutes Away When Malaysia Airlines Flight MH17 Was Shot Down

Transport operators would often downplay accidents involving their vessels, coaches or jets, especially near misses, but in the case of a Singapore Airlines Flight SQ351, it was Singaporean Transport Minister Lui Tuck Yew himself who admitted it was only minutes away from suffering the same fate as Malaysia Airlines Flight MH17 which was hit by a missile and crashed with all 298 people on board.
Miners walk towards a mine to take part in search and rescue operation for their colleagues trapped in a coal mine after a mining disaster in Soma, a district in Turkey's western province of Manisa May 16, 2014. The operator of a Turkish mine in which 284

3,500 Mining Jobs Lost as Bluestone Global Goes into Administration

About 3,500 mining jobs would be lost, following the going into administration of Australian miner Bluestone Global. The company, listed in the Australian Stock Exchange, said in a statement on Tuesday that it failed to secure shareholder support to fix its balance sheet by merging with other companies.
A trader watches a monitor displaying stocks on the floor of the New York Stock Exchange February 4, 2010.

Australian Stock Market Report – Afternoon August 5, 2014

The Australian sharemarket lost ground for the third day despite a strong performance from US shares overnight. The All Ordinaries Index (XAO) fell by 0.4 per cent; however is still only 2 per cent away from revisiting the six-year highs reached late last week.

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