Verbena

Charles Ponzi (March 3, 1882 – January 18, 1949) was one of the greatest swindlers in American history. His aliases include Charles Ponei, Charles P. Bianchi, Carl and Carlo. The term "Ponzi scheme" is a widely known description of any scam that pays early investors returns from the investments of later investors. He promised clients a 50% profit within 45 days, or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the United States as a form of arbitrage.^[1] Ponzi was probably inspired by the scheme of William F. Miller, a Brooklyn bookkeeper who in 1899 used the same pyramid scheme to take in $1 million.^[2]

The International Financial Services Centre in Dublin

The economy of the Republic of Ireland is a highly developed knowledge economy, focused on services in high-tech, life sciences, financial services and agribusiness, including agrifood. Ireland is an open economy (3rd on the Index of Economic Freedom), and ranks first for high-value foreign direct investment (FDI) flows. In the global GDP per capita tables, Ireland ranks 2nd of 192 in the IMF table and 4th of 187 in the World Bank ranking. Among OECD nations, Ireland has a highly efficient and strong social security system; social expenditure stood at roughly 13.4% of GDP.

Following a period of continuous growth at an annual level from 1984 to 2007, the post-2008 Irish financial crisis severely affected the economy, compounding domestic economic problems related to the collapse of the Irish property bubble. Ireland first experienced a short technical recession from Q2-Q3 2007, followed by a recession from Q1 2008 – Q4 2009. (Full article...)

"Buy what thou hast no need of; and e'er long thou shalt sell thy necessaries."

—Benjamin Franklin, Poor Richard's Almanack, 1732-1758

• ... that in 2007, Jeremiah Moss started Jeremiah's Vanishing New York, a blog that functions as a "digital obituary column" for old New York City small businesses lost to gentrification?
• ... that "gig" in "gig economy" comes from the slang term for individual appearances by performing artists?
• ... that New Zealand politician Hamish Campbell is a cancer researcher and runs a flower-delivery business?
• ... that developmental economist Michael Lipton showed that poor farmers were more resource efficient than rich farmers?
• ... that German economist Ingo Böbel became Professor of Economics at International University of Monaco after serving a prison sentence for embezzlement and tax evasion?
• ... that Selling Mother's Milk is a book which discusses the 18th-century practice of some parents in France giving their children to wet nurses for a year or more?

July 2:

• 1904 - René Lacoste, French tennis player and businessman, created the polo shirt, was born on this day.

• ...that Luca Pacioli, codified the double-entry bookkeeping system in his mathematics textbook Summa de arithmetica, geometria, proportioni et proportionalità published in Venice in 1494?

• ...that, as of August 2008, more than 113 countries around the world, including all of Europe, required or permitted IFRS reporting and 85 required IFRS reporting for all domestic, listed companies?

• ...that IFRS financial statements consist of a statement of financial position, a statement of comprehensive income, a statement of changes in equity, a Statement of Cash Flows and a Notes to the Financial Statements?

• ...that in the circular flow model, the inter-dependent entities of producer and consumer are referred to as "firms" and "households" respectively and provide each other with factors in order to facilitate the flow of income?

• ...that Wassily Leontief was the first to use a matrix representation of a national economy, in his input-output model?

• ...that the balance of payments of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular period?

• ...that the existence of property rights, besides being a fundamental item in many legal systems, constitutes also the fundamental presupposition for the mathematical validity of both the accounting equation (financial statements) and the equality of gross value added and net output (national accounts)?

Wikinews Economy and business portal

• July 21: Technological University Dublin senior lecturer Dr Lorcan Sirr speaks to Wikinews on housing market in Ireland
• July 15: California governor signs new state budget, eligible Californians to get stimulus payments
• July 4: 130 OECD countries agree to back global corporate tax rate
• June 30: 'Each makes the other more difficult to recover from': University of Sussex professor L. Alan Winters speaks to Wikinews on trade, COVID-19, Brexit
• June 16: Wikinews interviews Victor Kline, leader of newly registered The New Liberals party in Australia
• April 23: Irish Finance Minister Donohoe criticises OECD's global minimum corporate tax rate
• April 17: People protest in Berlin against German Court overturning five-year rent cap
• March 5: Chancellor Rishi Sunak announces UK budget 2021
• February 10: Disney to shut down Blue Sky Studios, animation studio behind 'Ice Age'
• January 24: World Trade Organization declares US tariff hike illegal, rules in South Korea's favour