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The Worlds Biggest Wealth Manager Wont Touch Bitcoin

last month flagged the risk of cryptocurrencies being used for money laundering, tax evasion and funding for terrorism. Still, he stopped short of backing a broad ban in the country.Bitcoin isn’t government-sponsored and some may use it to avoid oversight, a situation that’s “unlikely to persist forever," Haefele said. The

Chinese envoy heads to North Korea for rare talks

(CNN)A senior Chinese diplomat will travel to North Korea on Friday as a "special envoy" of Chinese president Xi Jinping amid growing pressure on Pyongyang to curtail its nuclear and missile program. But observers cautioned against any expectations of an imminent solution to the nuclear crisis, saying, if anything,

Japans Expanding Economy Hides Wealth Disparity

Not everybody is celebrating Japan’s seven-straight quarters of economic expansion.The headline-grabbing gains in exports, corporate profits and financial markets that have marked the last few years have done little to change a longer-term trend that’s brought disparity between those Japanese who hold assets, and those who don’t.census in 2015, there

Australians Love Equity ETFs as Market Assets Surge 39%

Australians can’t seem to get enough of exchange-traded products as they hunt for low cost investments. The sector posted a 39 percent jump in assets under management during the year to Oct. 31, with equity products dominating, according to data from VanEck Australia and the Australian Securities Exchange. Still, the

How Strategists Are Trading Crude’s Moves in Asia Currencies

Sell the Indian rupee and Philippine peso. Buy the Malaysian ringgit and Singapore dollar. Bet the ringgit will strengthen against Indonesia’s rupiah.These are some of the trades that strategists are advocating as a surge of almost 40 percent in Brent crude since June clouds the outlook for Asian currencies, complicating

Aftershock of New Tax Creates Widening Two-Speed Indian Economy

India’s biggest tax overhaul since independence has driven a wedge between companies that have adapted to the new levies and a vast swath of small businesses, representing almost half the economy, that are struggling.The trend emerging from the first quarter of earnings since the goods and services tax, or GST,

Trump’s Trade Barbs Push Asian Nations Closer to China’s Orbit

For years, smaller nations in Asia have looked to the U.S. to provide a counterweight to an increasingly powerful China. Under President Trump in Asia Kept One Eye on Re-Election, With Push for Deals“The credibility of the U.S. is going down, so regional actors are trying to do their own

North Korean defector begs China to free wife and young son

Seoul, South Korea (CNN)A North Korean defector has issued an emotional plea to one of the world's most powerful men, China's President Xi Jinping.The number of defectors reaching South Korea is falling -- from 2,700 in 2011, the year former leader Kim Jong Il died, to around half that number

Van Gogh’s Insane Asylum View Sells for $81.3 Million at Auction

A canvas by Vincent van Gogh fetched $81.3 million in an auction at Christie’s Monday.The 1889 painting, “Laboureur dans un champ,” was sold by the estate of billionaire couple Nancy Lee Bass and Perry R. Bass. It had been estimated to bring in $50 million at Christie’s evening sale of