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Local authorities in China are facing record debt this year. Moody's experts warn the Chinese government on a default imminent.

The European prosperity is coming to an end with the sale of their property, political extremism and other signs of imminent collapse, says HSBC chief economist Stephen King.

According to the report of the European Commission, in 2012 the fraud affecting the EU budget increased by 7% compared with the previous year. In total, there were more than 1,200 cases suspected or confirmed.

The indictment follows a multi-year investigation, which concluded that the firm engaged in "pervasive" and "substantial" insider trading, led to the arrest of several employees, and forced the investment firm to pay more than $600 million in a civil settlement. Interestingly, the indictment does not include SAC's prominent founder and chief, Steven Cohen. But, if SAC was truly committed to insider trading, is it plausible that Cohen did not know about it?

The wave of distrust in the dollar intensified after the German Bundesbank demanded the return of the huge quantity of gold stored in the U.S. Federal Reserve, who refuses to do so before 2020.