Category: News

News

The fifth round of negotiations between London and Brussels predict a very “though Brexit”

More and more voices in London claim the UK needs to prepare for a “tough Brexit“, which may indicate that negotiations between the two sides will become drastic and the Britons will become forced to leave the EU without a trade agreement.

According to the Minister of Justice in London, Dominic Raab, Britain must “fight for the best agreement”, writes the BBC.

According to the Sunday Telegraph, the London government already has a plan to unblock billions of pounds to prepare for the possibility of Great Britain leaving the bloc without a commercial deal.

More and more voices in London say this scenario sound plausible, given that after six months of negotiations there has been no significant progress regarding the separation between London and Brussels.

The talks stumbled when the EU leaders have reached to the most important issues – the rights of European citizens in the UK, the bill related to London’s obligation to pay and the border between Ireland and Northern Ireland.

While claims that Theresa May is ready to proceed to the next stage of the negotiations, Brussels complains about the lack of establishing clear measures of London and claims they will not start discussing a commercial agreement providing before those three key issues become solved.

The largest employer in Berlin also claimed that German business firms on the British market should prepare for “a very tough Brexit.”

Brexit supporters say if the UK does not reach an agreement with Brussels, the only responsible is the EU.

A “tough Brexit” means that the UK will not be able to reach a trade agreement with the EU and will leave the single market, which, in the opinion of lobby groups in London, will hit the economy.

BDI says some German companies are preparing back-up plans if the UK leaves the EU without a deal.

According to Reuters, these companies include Airbus, Siemens and Deutsche Bank.

News

Algeria launches “helicopter money” as plan to plug the country’s budget deficit

Algeria budget

Algeria budget

Algerian Prime Minister Ahmed Ouyahia presented a comprehensive plan meant to reduce the country’s budget deficit.

The controversial plan also includes the approval for several loans from the central bank, as OPEC member countries are trying to offset declines in oil revenues without accessing the international debt markets, writes Bloomberg.

According to Ouyahia, non-traditional funding will pull Algeria out of the crisis within five years.

The five-year plan would balance the country’s budget by 2022, covering a deficit that has grown strongly against the background of the dramatic collapse in oil prices, which has also led reducing the country’s foreign currency reserves to half.

“If we resort to foreign loans, as the IMF suggests, we will need to borrow $20 billion a year to cover the deficit, and in four years we will be unable to pay the debts. That’s why the government has used the non- traditional financing”, added the Algerian prime minister.

Given that the internal debt of the country is around 20% of GDP, Algeria can borrow more, the IMF has stated.

Earlier this month, the Algerian government authorized the central bank to lend the Treasury in order to solve the deficit reduction.

Dubbed by the current import restrictions, “the central bank’s financing of the fiscal deficit will fuel rising inflation and lead to depreciation of the local currency,” said a recent report by Riccardo Fabiani, senior analyst at the Eurasia Group.

Taking into consideration the depreciation of the dinar, Ouyahia argues the local currency has depreciated by 25-30% in the last three years, although no traditional funding was made in that period.

News

How the biggest idols of our generation ended up becoming waiters or high school teachers

How the biggest idols of our generation ended up becoming waiters or high school teachers

They were once the idols of our generation and they were everywhere

Now, they have the most ordinary jobs or they ended up behind the bars because they lost touch with reality and the “celebrity status” transformed them into these selfish brats.

One of these celebrities who benefited from one of the rudest awakenings to reality is Amanda Bynes.

During her teenage years, Amanda was one of the most appreciated personalities in the world. Her positive attitude, beautiful smile and laid back style earned the admiration of millions.

However, a few months after she has reached the peak of her career, she turned into this completely different person. All of the sudden, the blonde struggled with substance abuse, problems with the law and now she, allegedly, works in the fashion industry but no one knows exactly what she does.

Tom Sellek

The former producer/actor retired to his 60-acre farm, where he wants to grow avocados.

Apparently, the farm life helped him to finally find a balance.

Liam Gallagher

After his brother, Noel, left Oasis for a solo career, Liam founded Beady Eye, which disappeared from the limelight after just two albums. Today, Liam runs a fairly profitable clothing brand in London called Pretty Green.

Tony Danza

The star from Taxi and Who’s the Boss is now an English teacher at the Philadelphia North-East High School.

Chris Owen

Despite the fact the American Pie series was a huge success, Chris is now working as a waiter in a sushi place and has 100 followers on Twitter.

Vanilla Ice

When he realized that his musical career is over, Vanilla Ice decided to create a real estate platform. Now he acts as a real estate investor and teaches others how to make profit.

 

 

News

The real story of the Wolf of Wall Street: how this kid who sold ice cream in his neighborhood became a mogul

Jordan Belfort

Jordan Belfort

Jordan Ross Belfort was born in Queens, New York, in a family of accountants in 1962

A few weeks after he graduated, he earned $20,000 by selling ice cream on the beach.

He wanted to become a dentist and he also wanted to pay his studies from his own money, but his plans changed when, on the first day of university, the dean told them that the golden era of the dentists is over.

So he dropped out, after several unsuccessful businesses (for example trying to sell meat and seafood), he started working in the L.F. Rothschild brokerage company.

After spending a few years there, he has improved his skills, earning enough money to start his own company, Stratton Oakmont, where he hired his childhood friends as managers.

For example, at the corporate finance division he hired Andrew and Kenny Greene, while Daniel Porush was named junior partner.

His father, Max Belfort, was appointed CFO

Belfort also created a cult in which company employees competed not only for how impressive sums, but also on how much they could spend. The fact that most were young also led to unbalanced behavior, such as drug use, gambling and prostitution, as Belfort’s influence grew, he funded other brokerage firms.

Over time, Belfort also invested in companies like the Dollar Time Group and Steve Madden Shoes.

His ability to manipulate stock prices has led him to huge profits, the most notable example being Steve Madden Shoes’s stock listing, from which Jordan earned $20 million in less than three minutes.

As Stratton Oakmont continued to expand, Belfort concealed his earnings in a bank in Switzerland. The wealth and influence of Stratton Oakmont increased in direct proportion to the authorities’ suspicions, and a lengthy investigation had brought charges against the firm and Belfort. There was an agreement in which he gave up the management of Stratton Oakmont, selling his part of the company to Daniel Porush.

Shortly after the transaction, Belfort went under the FBI’s investigation.

The FBI accused him of fraud and money laundering, for which he was sentenced to four years in prison and forced to pay up a fine of $110 million.

He was imprisoned for 22 months, and during this time it developed a passion for writing. Today, Belfort lives in Los Angeles, California with his wife and two children.