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Tuesday, September 16, 2014
US wealth gap putting the squeeze on state revenue
Income inequality is taking a toll on U.S. state governments.
Loose monetary policies have created an “illusion of permanent liquidity” that is spurring investors to make risky bets and push up asset prices, the Bank for International Settlements said Sunday.
The surprisingly slow global economic recovery was the cue for local economists to drastically cut their forecasts for Singapore's export performance this year.
Hong Kong rethinks rules after Alibaba IPO loss
Alibaba's choice of New York over Hong Kong for its blockbuster IPO was a blow for the Chinese financial center. Now, the city's stock market is starting to rethink rules that stopped it from accommodating the Chinese e-commerce giant's unique management setup.
 > China
Electronic money is being used more and more often since the consumption tax hike in April, as consumers seek to reduce the amount of small coins in their wallets and take advantage of point services.
 > Japan
Apple's ambitious mobile payment service Apple Pay may need some time to see any success in South Korea's growing mobile payment market due to iPhone's low penetration rate, the difficulty of building partnerships with local firms and security issues. Meanwhile, Kakao, which recently launched its new Kakao Pay is expected to reign for the time being, according to market watchers.
 > Korea
World stock markets sank Monday on weak Chinese economic data as investors looked ahead to a U.S. Federal Reserve meeting and Scotland's independence referendum.
The U.S. dollar was steady in Asia Monday on speculation that the U.S. Federal Reserve will bring forward its timetable to raise interest rates, analysts said, while fears over Scotland's independence vote pressured the pound.
Oil prices fell in Asia Monday after a sharp slowdown in Chinese industrial production raised concerns about slackening demand in the world's top energy consumer, analysts said.
Monday, September 15, 2014
Wowprime Corporation (王品集團) held a press conference yesterday afternoon to apologize for a “misunderstanding” with the Taichung City Government's Health Bureau regarding its use of lard oil, as well as over its brand Famonn Coffee's (曼咖啡) use of tainted oil in its tomato vegetable soup.
  
  
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