“It’s like going to the ATM in Vegas and then going to the roulette wheel and it comes up red and you go back to the ATM.”

The remark was recently made by Steve Mermell.  The man retired last year as city manager of Pasadena, California.  He knows a thing or two about how borrowing to enhance pension fund returns can result in spectacular losses.

Tags

Airbus has secured a bulk order for 292 of its A320 single-aisle aircraft from four Chinese airlines, as deteriorating US-China relations tipped the balance for aviation sales in the European manufacturer’s favour, dealing a blow to the American rival Boeing.

The inputs used to make cell-cultured “meat,” which can hardly be called meat at all, are so unknown in terms of their effects on the human body that it truly is a crime against humanity for the stuff to be gradually making its way into the food supply.

Bill Gates, who already owns close to 270,000 acres of land in the U.S., has been granted the legal authority to buy another 2100 acres in North Dakota despite protests by local residents.

Gates, already the largest farmland owner in the country, has secured the go ahead to buy the land for $13.5 million under his ‘Red River Trust’ company.

Tags

Confronted with an overbooked flight last week, Delta flight attendants channeled Vito Corleone and tried making boarded passengers an offer they couldn't refuse: Give up your seat and receive the princely sum of $10,000 in cash, not flight credit.  

The shock of that number is compounded by the fact that this wasn't a long-haul international flight from Atlanta to Johannesburg or LAX to Sydney.

We're talking about a 90-minute hop from Grand Rapids to Minneapolis. 

Tags

After threatening to do so for a couple months now, Russia has pulled the trigger on expanding the list of commodities for which it demands payment in rubles to now include grain exports, effective Friday per a government legal website.

So now grain, sunflower oil and extracted meal are the next to follow the March decision to charge clients from "unfriendly" countries - including major customers in Europe - in rubles for natural gas instead of the normative dollars and euros.

Fast but not furious, the Global South is revving up. The key takeaway of the BRICS+ summit in Beijing,  held in sharp contrast with the G7 in the Bavarian Alps, is that both West Asia’s Iran and South America’s Argentina officially applied for BRICS membership.

Tags