China’s love affair with glitzy Swiss timepieces is ending, as President Xi Jinping’s campaign against corruption makes targets of wearers.
On Sunday afternoon, a microblogger in Beijing logged into Sina Weibo, China’s leading social media platform, to gossip about the “auntie” next door. It’s a broad term of respect for an older woman, and his followers understood precisely what he meant when he tweeted, “The auntie next door used all of her retirement savings to buy gold. When asked what she’d do if prices keep dropping, she replied that if everyone kept buying gold, the price wouldn’t drop...”
In what must be one of the greatest currency bets on the Australian dollar, George Soros is rumoured to have gambled around $1 billion dollars on a Reserve Bank rate cut sending the local currency lower.