ECONOMY

Africa will have to spend between $200-350 billion a year in climate adaptation costs by 2070, if the current global temperature rises by more than two degrees Celsius, according to a UN Environment Programme (UNEP) report on Tuesday.

As H.L. Mencken opined, 'The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, and intolerable.'

It is the task of today's Weekend Daily Reckoning to speculate on a profitable trade for 2014. But before we get there it helps not to forget that the whole financial system is rigged.

The OECD (Organisation for Economic Development and Cooperation) is out with its latest global outlook, warning Australia about the blindingly obvious. That is, labour costs and house prices are too high, which threatens our competitiveness on the global stage.

Shares of Air New Zealand dropped on Wednesday when it resumed trading, following the government's divestment of 20 per cent to the tune of $NZ365 million ($324 million).

Indonesia has been hit by a powerful 6.3-magnitude earthquake on Tuesday, according to the U.S. Geological Survey. No immediate reports of fatalities and damages have so far been reported on the temblor that struck off eastern Indonesia. The Indonesian Meteorology and Geophysics Agency ruled out any potential tsunami occurrence.

Williams reckons there is only one outcome possible: hyperinflation. A year ago, he expected it in 2019. Now, he's moved up the schedule. He now expects hyperinflation to begin in 2014.

As the melt-up in global asset markets continues, today we ask the question: Are central bankers' egotistic hooligans blinded by their own intellectual arrogance? You can probably guess the answer to that one.

The relative strength of the US dollar is one of the great mysteries of the financial world. It has defied predictions of collapse for years, despite copping severe abuse from its managers, the US Treasury and their henchman at the Federal Reserve.

The Australian Institute report “Hard to get a break” reveals that Aussies are either overworked underpaid or out of work.

China has set to open its next carbon emissions trading markets in Beijing and Shanghai before the end of November 2013.

At least 100 stores located inside Westfield Hornsby Mall remain closed on Tuesday as authorities continued to assess the damages inflicted by a mini tornado that ripped Australia's Central Business District on Monday afternoon.

So Janet Yellen's first hearing took place overnight. It was fairly boring. She's expected to sail through and become the next Chairperson of theUS Federal Reserve. Given that the last few years of extraordinary monetary policy have achieved a miserable recovery, what's she going to do differently?

Now, this is sheer entertainment. The Chicago branch of the Federal Reserve has addressed the great monetary question of our day.

What do a Bacon triptych, a balloon dog, a Pink Star and the stock market have in common? They're very, very expensive.

Typhoon-battered Philippines have felt the impact of super storm Haiyan (Yolanda) as the 315-kph Category 5 Hurricane-equivalent massively destroyed homes, crops and infrastructure in the central part of the country, particularly provinces located in the Visayas.

China is most likely to snatch the world's largest gold consumer title from India this 2013, according to the World Gold Council on Thursday.

For the first time in 18 years, the U.S.' crude oil production has exceeded the number of its imports, the U.S. Energy Information Administration said.

It takes a natural disaster of major catastrophic proportions like Category 5 super typhoon Haiyan (Yolanda) for the world to literally stop, forget its selfish cares and unite for a common good.

Members of the LGBT community may now marry in Hawaii after the state's legislative chambers approved a gay marriage bill on Tuesday.

The World Energy Outlook of 2013 report from International Energy Agency

Aside from the loss of lives and damages to infrastructure and livestock, the Philippines is expecting Typhoon Haiyan (Yolanda) will make an impact on its economic growth.

The behaviour of some Tacloban residents continue to puzzle observers after reports surfaced of rampant looting in the city ravaged by Super Typhoon Haiyan (Yolanda). First, the emptied the Gaisano Mall, taking even appliances, electronic goods and branded clothes, putting in question their motives - is it for survival or simply for personal gain. Then they also looted gasoline. On Tuesday, GMA News reported that warehouses in the city were also being robbed of cases of beer!

Google has officially launched Helpouts on Nov. 5, 2013. It offers netizens help from experts via live chat over video. It includes tips in Art and Music, Computers and Electronics, Home and Garden, Education and Careers, Fashion and Beauty, Fitness and Nutrition, Health and Cooking. One of the first live video chats to be launched was Helpouts by Sephora featuring several makeup tips and tricks from the French brand and chain of cosmetics stores that can be found all over the world and on the I...

Tropical depression Zoraida has finally entered the Philippines, placing at least 30 areas under storm signal no. 1, barely a week after Category 5 super typhoon Haiyan (Yolanda) ripped across the country.

I would like readers to consider carefully the fundamental difference between a 'real economy' and a 'financial economy'. In a real economy, the debt and equity markets as a percentage of GDP are small and are principally designed to channel savings intoinvestments.

Eastern Japan, where the crippled Fukushima nuclear power plant is located, has been shaken anew by a 5.5 magnitude earthquake on Sunday morning. Tokyo Electric Power Co (Tepco), operator of the embattled power plant, said the facility has suffered no abnormalities so far.

Reform of Riot Act could see government compensation pot restricted to SMEs with turnover under £2m.

China has lifted its regulations concerning air fare pricing, effectively allowing its airline players to sell cheap tickets to passengers.