BUDAPEST, Aug 19 (Reuters) – Hungary’s central bank will provide commercial banks with the Swiss francs needed for the conversion of remaining retail foreign currency loans from its reserves, it said in a statement on Wednesday.
The Bank of England built a Twitter tool to predict bank runs but it screwed up for a really weird reason
The Bank of England has revealed on its blog that it built a tool in the run-up to the Scottish independence referendum last year to try and predict a run on the banks using Twitter. The central bank was worried that a “yes” vote could provoke a rush of people pulling their money out of Scotland and thought a good way to monitor the situation would be to look at tweets…
NEW YORK, Aug 19 (Reuters) – Brooklyn Brewery, the craft beer maker operating from New York City’s most populous borough, resisted taking money from investment firms for almost three decades, according to founder Steve Hindy. Now the brewer of Brooklyn Lager is having second thoughts.
China is spending cash on three fronts to prop itself up. It’s plowing foreign exchange reserves into stabilising its currency, pumping money into the stock market and boosting government stimulus to support economic growth. It can probably do this at least until 2020, barring any major crises. China needs to buy itself time to transition from rapidly catching up with developed economies to stable, domestic demand-led growth…
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