The Week: Most Recent Business Posts recent posts.en-usThu, 31 Jul 2014 06:17:00 -0400http://theweek.com Recent Business Posts from THE WEEKThu, 31 Jul 2014 06:17:00 -0400With the world in flames, why is the economic recovery still going strong?<img src="" /></P><p>Investors around the world are becoming increasingly unnerved by the menacing specter of geopolitical risk. <em>Bloomberg </em>reports that 28 percent of investors surveyed this month by Bank of America identified geopolitics as the biggest risk to the global economy, up from 14 percent in June.</p><p>The real question is, What took them so long? The past year has featured a veritable smorgasbord of geopolitical meltdowns and calamities, from the interminable civil war in Syria to the ongoing war in Gaza to Vladimir Putin's annexation of Crimea to the rise of the al Qaeda offshoot the Islamic State in Iraq and...</p> <a href="">More</a>By <a href="/author/john-aziz" ><span class="byline">John Aziz</span></a>Thu, 31 Jul 2014 06:17:00 -0400How do you convince a millennial to invest? Ask this Harvard guy.<img src="" /></P><p><br /></p><p>The rap against millennials is that they believe they're exceptional and ought to be treated that way. Usually, the complaints are written by disappointed baby boomers trying to come to grips with the new generation. One millennial plainly agrees that his cohort is obsessed with asserting their individuality &mdash; and thinks he can make some money from it.</p><p>Zach Lupei, a 28-year-old Harvard Business School student, believes that his generation's sense of specialness extends to how they invest their money, so he recently launched his own millennial-focused investment advisory firm, Valued Investing...</p> <a href="">More</a>By Reilly DowdWed, 30 Jul 2014 09:03:00 -0400Pay yourself first: The habit that can help you build wealth<img src="" /></P><p><br /></p><p>You may always say that you'll up your retirement contributions (next pay period, you promise!) or stash a little extra in your emergency fund, but somehow another month passes and you still haven't done it.</p><p>The problem is likely that by the time you've paid for everything else &mdash; rent, groceries, utilities and maybe even a few dinners out &mdash; you often don't have enough left to add to least not until your next paycheck. And so the cycle goes.</p><p>If this sounds familiar, it could mean you're not in the habit of paying yourself first, which isn't the same as spending money...</p> <a href="">More</a>By Marisa TorrieriTue, 29 Jul 2014 16:24:00 -0400Don't hate the 'poor door'<img src="" /></P><p>New Yorkers living in 55 new affordable apartments built as part of a luxury development in Manhattan will have to enter their homes through the so-called "poor door," a different entrance from the one richer tenants will use. The homes are being erected under inclusive zoning laws which let developers construct affordable units in exchange for tax breaks and an exemption that allows them to build 33 percent more square feet than otherwise permitted.</p><p>Understandably, the "poor door" has raised a fair bit of fury. Lucy Westcott of <em>Newsweek</em> </span>calls<span> it "</span>Dickensian<span>." Stephen L. Carter of </span><em>Bloomberg View...</em></p> <a href="">More</a>By <a href="/author/john-aziz" ><span class="byline">John Aziz</span></a>Mon, 28 Jul 2014 12:26:00 -0400Personal finance tips: The risks of medical credit cards, and more<img src="" /></P><p class="p1"><strong><span class="s1"> Saving on back-to-school purchases<br /></span></strong>Back-to-school shopping isn't the "frenzied one-day spending spree" it used to be, said Kaitlyn Krasselt at <em>USA Today</em>. Families are expected to spend an average of $670 on school supplies, clothes, and electronics this year, but more parents "are shopping strategically online and picking up additional in-store items when necessary," spreading out their purchases over time. For the essentials, experts say the best way to save is to avoid brick-and-mortar stores altogether and wait for Labor Day sales. In the meantime, late July and early August can be a great time...</p> <a href="">More</a>By <a href="/author/sergio-hernandez" ><span class="byline">Sergio Hernandez</span></a>Mon, 28 Jul 2014 08:51:00 -0400Are tax inversions unpatriotic?<img src="" /></P><p class="p1"><span class="s1">Treasury Secretary Jack Lew thinks U.S. corporations moving overseas should be ashamed, said Jim Puzzanghera at the <em>Los Angeles Times</em>. In a letter to lawmakers, Lew called for "a new sense of economic patriotism" and urged Congress to enact laws that would stop U.S. companies from reorganizing as foreign firms to avoid paying taxes &mdash; a practice known as tax inversion. It's an increasingly popular loophole that spells disaster for corporate tax revenue, said Edward D. Kleinbard at <em>The Wall Street Journal</em>. In an inversion, a U.S. firm acquires a much smaller company based in a tax-friendly...</span></p> <a href="">More</a>By <a href="/author/sergio-hernandez" ><span class="byline">Sergio Hernandez</span></a>Fri, 25 Jul 2014 14:45:00 -0400Can we use skyscrapers to predict financial crashes?<img src="" /></P><p>When will the next financial crash happen?</p><p>If you know the answer to that question, you could get very rich by selling assets and shorting markets when it happens. And if you correctly make a public prediction of a crash, investors will pay princely sums for your advice afterward.</p><p>The problem is that predicting the financial future is really hard. In a system as massively complex as the global economy, causality can be hard to discern, and trends in the past don't necessarily hold in the present.</p><p>One pattern that has held up relatively well, though, is the construction of the world's tallest...</p> <a href="">More</a>By <a href="/author/john-aziz" ><span class="byline">John Aziz</span></a>Thu, 24 Jul 2014 11:52:00 -0400How the euro can still unseat the dollar as the world's dominant currency<img src="" /></P><p>A huge penalty recently imposed on the French bank BNP Paribas for sanctions-breaking has intensified talk of the end of the U.S. dollar's international reign. Remember, the currency most favored around the world does change: the U.S. dollar replaced the U.K. pound, which itself replaced the Spanish real. Many have suggested the Chinese yuan is the next logical usurper (though the Chinese themselves have promoted the IMF's bundle of currencies instead). But what about the euro?</p><p>Currently, the euro is the second most widely held currency in the world after the U.S. dollar, making up about 25 percent...</p> <a href="">More</a>By Frances CoppolaThu, 24 Jul 2014 06:10:00 -0400Britain has basically decriminalized internet piracy. The U.S. should, too.<img src="" /></P><p>Britain has made a bold move: starting in 2015, internet pirates will no longer be prosecuted for their file-sharing. Persistent file-sharers will receive warning letters, but according to <em>The Independent</em> "no further action will be taken." (While the government isn't calling it decriminalization, that is effectively what it is.) In the long run, this is the only sensible option.</p><p>A full 46 percent of Americans are copyright pirates, according to a 2012 study by The American Assembly at Columbia University, which means they copy content from CDs and DVDs or illicitly download media, including movies...</p> <a href="">More</a>By <a href="/author/john-aziz" ><span class="byline">John Aziz</span></a>Wed, 23 Jul 2014 12:00:00 -0400Is inflation really picking up?<img src="" /></P><p>With the U.S. recovery strengthening &mdash; unemployment is now down to just 6.1 percent from its peak of 9.9 percent in 2009 &mdash; some are saying that the Fed should change course and raise interest rates. Unless the Fed ends not only its program of quantitative easing, they argue, but also its regime of ultra-low interest rates that has been in place since the financial crisis, the economy is in serious danger of overheating.</p><p>What signal is the Fed waiting for? While traders have their eye on the rising stock market &mdash; many argue that stocks are in a bubble &mdash; the Fed is watching...</p> <a href="">More</a>By <a href="/author/john-aziz" ><span class="byline">John Aziz</span></a>Tue, 22 Jul 2014 11:01:00 -0400