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Capital Markets | March 7th, 2017 | Continue reading »
Credit risk could increase for US firms if tax changes motivate them to use repatriated foreign earnings to buy back shares and not repay debt.
Capital Markets | February 15th, 2017 | Continue reading »
A confluence of technology, regulation and volatility will transform Australia’s financial services in 2017, according to Calastone's Sarah Hayward.
Capital Markets | February 9th, 2017 | Continue reading »
Australia's December trade surplus, the largest on record 'in dollar terms', has come in more than double Westpac's expectations.
Capital Markets | February 3rd, 2017 | Continue reading »
Retail and non-mining investment have taken the gloss off NAB's December business survey.
Capital Markets | February 1st, 2017 | Continue reading »
Americans choke on $1 coin stockpile
The UK newspaper The Telegraph reported recently that a mountain of 1.2 billion dollar coins is sitting unused in US government vaults because the American public is so attached to the traditional dollar bill. The US Mint has been producing vast numbers of the gold-coloured coins after being ordered to do so by Congress in 2005.
American taxpayers could save $500 million (A$524m) a year if they switched from paper dollars, which wear out quickly and must be replaced, to the more durable metal version, according to the US government accountability office.
Yet demand from banks for the coins has been so low that US$1.2 billion worth – which cost US$300 million to manufacture – are sitting in storage, an investigation by National Public Radio found.
According to The Telegraph, opinion polls show that three-quarters of the American public say they would prefer to carry on using the paper dollar bill, affectionately known as the “greenback”, which celebrates its 150th birthday next year.
Comment: AB+F Blog
Two early for reform celebration: The one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act passing into law rolled quietly by last month... [more]
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