Posts by Siemond Chan
- Kensey Lamb + Siemond Chan at Yahoo Finance2 hrs ago
Bitcoin is not currently regulated in the U.S., and Fed Chair Janet Yellen told Congress that the Federal Reserve has no authority to supervise or regulate bitcoin. However, New York financial regulators said they will immediately begin accepting applications to operate exchanges for bitcoin and other digital currencies to help speed the development of rules for that market. Businesses will have to obtain a license to use bitcoin or other digital currencies.
Canada plans to bring bitcoin under the provisions of the money-laundering and anti-terrorism financing regulations.
Authorities have issued warnings against using bitcoin. Russian law stipulates that the rouble is the sole official currency and that it is illegal to introduce any other monetary units.
Banks and payment institutions in China are prohibited from dealing in bitcoins. They can’t give pricing, buy and sell bitcoin, or insure bitcoin-linked products.
There has been no official statement published on the BOE’s website regarding its position on bitcoin, however the government has stated that bitcoin is currently unregulated.
- Kensey Lamb + Siemond Chan at Yahoo Finance3 hrs ago
Consumers in the U.S. lost $1.6 billion due to various types of fraud in 2013, with identity theft topping the list of consumer complaints, according to the Federal Trade Commission¹s annual report.
Of the two million complaints that the FTC received, 290,056, or 14%, were related to identity theft.
Identity Theft Complaints
Florida had the highest per capita rate of identity theft.
60.8% of complaints came from the top 10 states
How Victims’ Information Is Misused
Identity Theft Complaints with Law Enforcement
Identity Theft Complaints by Victim’s Age
- The Exchange13 days ago
Forbes magazine published its annual list of the world's billionaires on Monday. According to the list, there are 1,645 billionaires with an aggregate net worth of $6.4 trillion, which is a $1 trillion increase from last year. 268 of the 1,645 billionaires are new to the list, and there are 172 women in the mix. In the graphic below, we take a look at the top 20 from this list, and see how their net worth stacks up to the GDP of countries including the embattled Ukraine.
- Siemond Chan at Yahoo! Finance10 mths ago
Anyone wanting to invest in diamonds has a few options through which to do so – stocks, funds or the stones themselves.
With equities, miner Rio Tinto ( ), jewelry seller Tiffany ( ) and online diamond merchant Blue Nile ( ) are well-known names in the diamond arena. Funds such as and have some exposure to diamonds, while an exchange-traded fund, the , may be arriving soon. More exotic prospects include the U.K.'s .
But setting aside these alternatives, the most direct way to try and profit is to buy the diamonds directly. However, such a decision clearly can be intimidating for novice diamond purchasers. Along with questions about the pricing, a prospective buyer also would want to know about the origin of a given diamond, the expertise of a jeweler who's selling it, and how it measures up in terms of the "C's" – clarity, cut, carat weight and color. For the inexperienced, it would be completely natural to approach the entire process with trepidation.
- Siemond Chan at Yahoo! Finance1 yr ago
For kids, robots can be fun -- and educational, too. Many modern educators believe that getting kids involved in tinkering and building is the most powerful way to engage them in the world of science and technology. These days an increasing amount of entrepreneurs and businesses are recognizing the potential value of this in the marketplace. Brooklyn Robot Foundry is one of them.
Located in the Gowanus neighborhood of Brooklyn, New York, the Foundry provides workshops that aim to "inspire and motivate kids about the fun of building" by teaching the engineering concepts behind how robots move and work. The Foundry offers after-school programs for children in pre-K through 5th grade, as well as weekend classes and summer sessions. The Robot Girls Club allows parents to build robots with their daughters in a workshop environment; there are plans to expand this program to include boys in the near future.
Federal government data show that in 2011, Washington outlays totaled $3.6 trillion, while receipts came to $2.3 trillion. Of the receipts, $1.1 trillion came by way of individual income taxes. The spread between the two figures means the federal government was running a deficit of $1.3 trillion. Defense, Social Security and Medicare / Medicaid outlays likely will account for more than 60% of federal spending in the 2013 fiscal year. The chart below shows planned spending outside of those programs.
What should the government do to close the gap, or should it even do anything? The U.S. financial situation is at the center of the 2012 elections, specifically the race for the White House between President Barack Obama and Republican challenger Mitt Romney. So we want to give you a chance to weigh in with your thoughts on spending and the U.S. economy.