By Tabita Diela, Gabriel Burin and Jonathan SpicerJAKARTA/BUENOS AIRES/WASHINGTON (Reuters) - When the U.S. Federal Reserve kept lifting interest rates this year, a world away in Jakarta profits dropped to next to nothing at Andy Kurniawan's shop selling collectible action figures. The Fed's decisions lifted the dollar and hit the Indonesian rupiah <IDR=>, making importing the figures more expensive, but Kurniawan resisted the urge to jack up prices, avoiding the folly of his favorite character, the Hulk. gi "Everything is a wreck" when the green-skinned Hulk unleashes his fury and destruction, he said in his shop filled from floor to ceiling with toy boxes. "But I have to be brave enough to cut my margins, hoping that people will still come to my business."When in Washington the U.S. central bank taps the brakes to cool the world's biggest economy, as it is poised to do again this week, the effects ripple far and wide. Complaining does not bring much, though some officials have … [Read more...] about From Jakarta to Buenos Aires, the world feels Fed’s sting
With the Reserve Bank of India (RBI) seeing its third governor in just over two years, there is renewed debate about its independence. This is a debate worth having, but not on narrow partisan lines. Instead, it is instructive to examine central banking’s history and its present day challenges. Modern politics, governance and even economics often resonate with the dilemmas faced by nations millennia ago, with relevant lessons from the Roman republic, the Mauryan empire and the like. But central banking is different. Central banks are a construct of modernity for which there is no specific ancient wisdom. The first one, formed exactly 350 years ago, was Sweden’s Riksbank, followed by the Bank of England (1791). Both were joint stock companies, aiming to lend funds to and buy debt from government. Others soon followed, including in the US and France. This was progress from an earlier era of large merchants financing the sovereign. For example, the famous Rothschild family not … [Read more...] about Should RBI be independent? A pushback is underway, globally, against the tenet of central bank independence
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Sean P. Murphy Globe Staff December 16, 2018 Army reservist Jon Harrington was really looking forward to his wife’s visit next month to Krakow, Poland’s second-largest city. A financial planner in New Hampshire, Harrington had deployed to Poland as a captain in the reserves.In September, Harrington went online to scout out accommodations in the city’s medieval quarter, near the Vistula River. With a few keystrokes, he found Hotel Stary, a five-star hotel on a cobblestone street. He paid a little more than $400 for three nights.But on Dec. 6, Harrington received an e-mail that basically threw all his careful planning out the window. Advertisement “We are very sorry to have to inform you that . . . your booking for your planned stay has been canceled,” said the e-mail from HotelQuickly, an online travel agency Harrington … [Read more...] about The Fine Print: Beware of those big travel sites offering great deals
Starbucks opened a Reserve Roastery in New York on Friday. The new Starbucks Reserve Roastery is the fourth of its kind in the world and is completely unlike a typical Starbucks. The Roasteries are meant to be upscale, and they feature cocktail bars, bakeries, and unique elements. Starbucks just opened a Reserve Roastery in New York, and it’s drastically different from any other Starbucks in the city. The Roasteries – seen as competitors of more upscale coffee shops like Blue Bottle and Intelligentsia – typically include a high-end Princi bakery, full liquor bar, and lounge areas with fireplaces in addition to a more traditional coffee bar. The New York store has all of these elements, plus an additional coffee bar, spread across three floors and 23,000 square feet of space. The Roastery showcases specialty, small-lot Starbucks Reserve coffee. In comparison, a traditional Starbucks store averages around 1,800 square feet. According to a company spokesperson, … [Read more...] about Starbucks just opened a Reserve Roastery in New York that has a full cocktail bar and is almost 13 times the size of the average Starbucks. Here’s how it compares to a typical Starbucks.
.......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........Copyright © 2018 Albuquerque JournalSoutheastern New Mexico and West Texas are sitting on a sea of potentially recoverable oil and gas reserves in the Delaware Basin, according to a new report by the U.S. Geological Survey.The U.S. Department of the Interior said Thursday that two underground layers in the Delaware, known as the Wolfcamp Shale and Bone Spring Formation, together contain 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids.ADVERTISEMENTSkipThat’s the largest pool of oil and gas reserves ever announced by the USGS anywhere in the U.S., propelling the Permian Basin in New Mexico and Texas into the nation’s premier zone for energy production with some of the largest recoverable reserves in the world, … [Read more...] about Formation in NM, Texas called largest oil reserve in U.S.