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Population growth will fall to zero in Asia by 2050. That's the stark warning from the IMF, which says the continent's rapidly aging population is shifting from being the biggest contributor to the global workforce to subtracting hundreds of millions of people from it. In terms of economic growth that's likely to spell bad news, particularly for Japan, Hong Kong, South Korea and Thailand.
Here's what some of the world's top investors are betting on. Money managers, including David Einhorn and Bill Ackman, descended on New York’s Lincoln Center for the annual Sohn Investment Conference, one of the hedge fund industry’s marquee events, to hear the latest trade picks.
Australia's government finally took up the central bank's call for economic stimulus in its annual budget, with a A$75 billion infrastructure plan as its centerpiece. First-time homebuyers and schools were among the budget's winners, and the nation's big banks were among the losers.
The Kushner project touted in China is in trouble back home. When Jared Kushner's sister visited Beijing and Shanghai to urge investors to fund a New Jersey program through a controversial visa scheme, she mentioned her brother's role in the White House and displayed a photo of Donald Trump. But there were quite a few things she neglected to talk about.
A former Nomura bond trader says he was trained to lie to customers. Frank DiNucci Jr. said the tactics he learned included lying about where Nomura Holdings Inc. had bought or sold bonds and misrepresenting the price it had paid. DiNucci was the first witness at the trial of three former Nomura colleagues, accused of lying to customers about the prices of mortgage-backed securities.
Credit Suisse to cut as many as 35 Asia equities jobs by June. The firm is mainly culling trading, sales, prime brokerage and research positions in the region after the unit's revenue slumped, a person with knowledge of the matter said. Several global investment banks reduced the size of their Asian equities units last year or exited the business entirely amid volatile trading commissions.
Your password is terrible and everyone wants to fix that. The death of the password has long been predicted. Amid many high-profile cyberattacks on some of the world's biggest companies, it looks like the end is finally near.
The number of Chinese tourists visiting Greece is about to rise 10-fold. Chinese conglomerate Fosun International Ltd. wants to use its stake in tour operator Thomas Cook Group Plc to build vacation packages specifically for the huge Chinese market. The Chinese government predicts visitor numbers to Greece will rise 10-fold to 1.5 million in the medium term.