After dedicating most of 2009 to jump-starting financial markets through stimulus packages, Developed Countries are now turning their attention to reforming the basic architecture of those markets, especially the incentives for risk-taking. In a major step towards regulating systemic risks, the United Kingdom last week announced a one-off 50 per cent “super-tax” on bankers’ discretionary bonuses exceeding £25,000. The move could raise £550 milli on, which would be used to...

The Copenhagen conference will definitely go down as the worst meeting in global climate negotiations. There is a complete mess here: lines of people standing outside the Bella Centre, where the conference is taking place, wanting to get in. Inside the meeting has broken down for the umpteenth time because industrialized countries refuse to commit to cutting emissions. Instead they want the global climate agreement changed, so that they do...

A rogue’s gallery of corrupt politicians and entrepreneurs trying to create money out of thin air.  It is impossible to quantify the level of fraud in public spending on wind energy The European wind association does not have a code of conduct for developers A big Danish firm revealed that it was the victim of a 12 million euro fraud The northern trade winds of the Canary Islands have long tempted daredevil windsurfers,...

India will become the world’s most populous country in 2025, surpassing China, where the population will peak one year later because of declining fertility, according to United States Census Bureau projections released Tuesday. The bureau suggests that the projected peak in China, 1.4 billion people, will be lower than previously estimated and that it will occur sooner. With the fertility rate declining to fewer than 1.6 births per woman in this...

China on Monday accused the developed nations of trying to “split” the developing countries to weaken their voice at the Copenhagen summit. It also called upon the developing countries to come together in the “common interest of mankind.” Interacting with a group of journalists here on Monday, Chinese Ambassador Zhang Yan said protests by the Alliance of Small Island States against the drafts prepared by G-77 countries and Brazil, South Africa,...