Hundreds of billions in loans didn’t make a dent in global poverty
By Gabriele Steinhauser, Photography by Roun Ry for WSJ

Giving tiny loans to shoestring entrepreneurs was meant to be capitalism’s cure for global poverty.

Microfinance, loans issued in communities not served by traditional banks, would help poor people in developing countries start businesses and work their way toward prosperity. ⌘ Read more

Soho Hotel holding company collapses into receivership
The company behind the Soho Hotel has been tipped into receivership by a lending business already owed over $55 million by the hotel’s director.

IPG Capital was put into receivership on June 10 and is the ultimate holding company of IPG Hotels (Auckland), which trades as the Soho Hotel in Mt Roskill, Auckland. The seven-level suburban hotel is still operating and is run by Capstone Hotel Management. ⌘ Read more

Cambridge to Piarere highway procurement underway, tolling a consideration
The $1.77 billion Cambridge to Piarere expressway project is being broken into two contracts, a 6.4km “online” section and the “offline” section to be cut through farmland.

The Government funded [the long-promised extension to the Waikato Expressway at the 2026 Budget](https://businessdesk.co.nz/article/infrastructure/budget-2026-sector-glad-for-68b-capital-commitment-no … ⌘ Read more

Pantouflage, recrutements familiaux et argent public à foison: les liens explosifs entre Bpifrance et un fonds franco-chinois
Cathay Capital a été le fonds privé qui a le plus bénéficié des soutiens publics de Bpifrance en 2025. Heureux hasard, il avait auparavant embauché le fils du directeur général de Bpifrance, Nicolas Dufourcq, après avoir recruté l’un de ses meilleurs amis, l’ancien directeur du Trésor, Bruno … ⌘ Read more

Whalefall Trailer Review: Survival Movie Capitalizes on Deep Sea Fear
The first Whalefall trailer is out now for the upcoming deep sea survival movie. The upcoming thriller wastes no time in presenting us with an absolutely wild situation. “Following the death of his father (Josh Brolin), Jay Gardiner (Austin Abrams) goes diving off the central Coast of California in search of his remains, but is […]

The post [Whalefall Trailer Review: Survival M … ⌘ Read more

Should I sell my investment property now, or after July next year?
It’s important to understand how the new capital gains tax rules will affect property sales before and after July 30, 2027. ⌘ Read more

Zombie master’s new film flags a modern virus that has already infected us all
In Train to Busan, Yeon Sang-ho warned us of the dangers of unchecked capitalism. His new film, Colony, tells us we may already be too far gone. ⌘ Read more

SBS Bank looks to drive growth, eyes capital efficiency
SBS Bank says it plans to grow its capital-consuming businesses over the short to medium term, underscoring this appetite by indicating an intent to streamline its total capital stack.

“We’re in a good space from a capital perspective,” SBS group chief executive Mark McLean said, noting the Invercargill-headquartered bank’s total capital ratio of 18%. ⌘ Read more

NZ economy needs more than ‘small incremental steps’
New Zealand Growth Capital Partners is nearly a quarter-century old, an initiative from the first term of Helen Clark’s Government.

NZ Growth Capital Partners (NZGCP) chief executive, James Pinner, has just marked five months in the job. He said the reasons for setting it up were just as relevant in 2026 as in 2002. ⌘ Read more

No Babies? Blame Capitalism
Article URL: https://jacobin.com/2026/06/birth-rates-capitalism-socialism-germany

Comments URL: https://news.ycombinator.com/item?id=48429940

Points: 5

# Comments: 0 ⌘ Read more

«Fuck Capitalism Jam», l’événement de jeu vidéo qui refuse de cirer les pompes des patrons
Les jeux développés dans le cadre de cet événement en ligne dressent tous les ans un portrait féroce du monde du travail, dans l’idée «d’aider autant que possible à développer une pensée critique». L’édition 2026, qui vient de se clore, a vu émerger 70 nouveaux projets caustiques et émouvants. ⌘ Read more

American capitalism has taken an apocalyptic turn
Article URL: https://economist.com/business/2026/06/03/american-capitalism-has-taken-an-apocalyptic-turn

Comments URL: https://news.ycombinator.com/item?id=48393043

Points: 4

# Comments: 1 ⌘ Read more

Data centre boom could send power prices 26 per cent higher: Climate group
As Victoria and NSW chase billions in data centre capital, a report warns households could foot the bill for a dirtier, costlier grid. ⌘ Read more

Forsyth Barr lowers Tourism Holdings to neutral
Forsyth Barr analysts lowered their rating on Tourism Holdings to neutral from outperform after a weak trading update and news that it had received a second bid approach from the BGH-Capital-led consortium.

It also lowered its 12-month target price to $3.10 from $3.60. ⌘ Read more

QuiznessDesk, Tuesday, June 02
Which was the first self-governing country in the world to grant women the right to vote in parliamentary elections?
Table Mountain overlooks which of the following cities? Cape Town, Toronto or Rio de Janeiro?
Which animal lives in a drey?
Which country will celebrate its semiquincentennial in July?
Where was New Zealand’s first capital?
What name was given to films in the 1930s, 40s and 50s that were made as a companion to a main feature in a double-bill programm … ⌘ Read more

Cybersecurity startup Blacklock aims to raise $5m for new AI software spinoff
Wellington-based cybersecurity startup Blacklock is separating its software development operations into a new company and is planning a US$3 million (NZ$5m) capital raise to develop and scale its products.

Blacklock was set up to streamline and automate services, including penetration testing, also known as white-hat hacking. The new spinoff company is known as Cyra. ⌘ Read more

THL considers revised $3.10 per share takeover offer
Tourism Holdings Limited is considering a revised takeover offer of $3.10 per share from a consortium comprising BGH Capital and the Trouchet family.

The indicative all-cash offer represents a 41% premium to THL’s last traded price of $2.20. ⌘ Read more

QuiznessDesk, Friday, May 29
What is the capital of the Canadian province of Nova Scotia, and also a town in England?
The 1812 Overture was written to celebrate the defeat of Napoleon in which city?
Which European state became two separate states in January 1993?
Which has the larger ears: the African or Asian elephant?
In which Italian city is the Uffizi Gallery?
What is the name of the current Israeli president?
In what 1980s film did Daryl Hannah play a mermaid?
What brand of beer does Homer Si … ⌘ Read more

Chinese regulators investigate Auckland’s Tiger Brokers in offshore clampdown
Chinese regulators have launched a probe into Auckland-based Tiger Brokers over alleged illegal cross-border business activities as part of a wider clampdown on offshore trading platforms allegedly helping investors sidestep Beijing’s capital controls.

The China Securities Regulatory Commission (CSRC) announced on Friday it was cracking down on several offshore bro … ⌘ Read more

Budget 2026: Sector glad for $6.8b capital commitment, now to actually spend
Finance Minister Nicola Willis says the 2026 Budget’s $6.8 billion in capital spending is being directed to projects that are “ready to go”.

The capital package in the Budget delivered onThursday contained major transport items, including a $1.7b express … ⌘ Read more

Investors beeline for Comvita, Amano owner Savor-ing the moment, Rural Land’s rocketing bill, and more
Stay ahead with BusinessDesk’s regular Small Cap Wrap – all the latest small cap opportunities, market trends and more.

Comvita has finally put its long-awaited capital raise behind it – and the … ⌘ Read more

A fiscally prudent, politically neutral Budget
Every Budget should have a politically impactful surprise.

In Budget 2026, the biggest surprise is the forecast of impressively large Budget surpluses as far as the eye can see from 2028/29. ⌘ Read more

Budget 2026: A $7b capital spend on roads, rail, warships, and hospitals
The 2026 Budget will put a $6.8 billion capital package towards a Waikato expressway extension and road resilience, “fully-funded” rail freight network upgrades, a hospital tower in Whangārei, naval warship improvements, and more than 200 classrooms.

The capital package, arguably the centrepiece of a Budget that was light on operating spending, was buoyed not only by an increased c … ⌘ Read more

NZ needs a Taiwan-style gamble
The Budget 2026 has not yet been released, but industrial policy has already reared its head, with a pre-Budget announcement of loan guarantees to help businesses transition off gas.

There is speculation the Budget could deliver other subsidies and assistance, particularly to take advantage of an Australian Budget announcement tightening capital gains tax treatment. ⌘ Read more

The long game: how F&P Healthcare shrugged off a 52-week low
Few New Zealand companies have grown their capital expenditure by 89% in a single year, and there would be even fewer who, having done that, have plans to grow it further.

It is all part of what Fisher & Paykel Healthcare (FPH) CEO Lewis Gradon sees as taking the longer-term view of thing … ⌘ Read more

Goodbye to the 2025/26 dairy season
Volatile commodity prices, strong milk flows, processor acquisitions and divestments, chief executive resignations, and a chunky capital return.

The 2025/26 dairy season has been anything but dull. ⌘ Read more

VC firm Pacific Channel expands into Asia-Pacific with ENGIE Factory acquisition
Venture Capital firm Pacific Channel has acquired Singapore-based ENGIE Factory, and its shareholdings in seven startup ventures in the Asia-Pacific region.

ENGIE Factory is the venture arm of French multinational electric utility company ENGIE Group. ⌘ Read more

Sponsored: Bayleys Total Property Issue 4 out now
Backed by Bayleys’ national strength and global reach, Total Property offers exclusive access to New Zealand’s high calibre commercial property opportunities and the latest market insights. Whether you’re a seasoned investor or exploring new ventures, we’ll connect you to the right opportunities with Bayleys’ trusted expertise.

In this issue, we explore how private capital continues to dominate global commercial real estate investment, driv … ⌘ Read more

StanChart To Cut Over 7,000 Jobs, Boost AI To Replace ‘Lower-Value Human Capital’
The London-headquartered lender Standard Chartered announced plans to cut more than 7,000 jobs by 2030, with CEO Bill Winters saying the bank will replace some “lower-value human capital” through automation and AI while offering retraining to affected workers. “It’s not cost-cutting. It’s replacing in some cases lower-val … ⌘ Read more

Why buying back BNZ misses where real financial power lies
Winston Peters wants to buy BNZ back. The Crown is being asked to recapitalise Kiwibank. Both debates are misaligned with the asset and the layer of the tech stack, writes Andy Higgs, the executive director of Digital Identity New Zealand.

NZ First has now made it official policy to bu … ⌘ Read more

Cross the Ditch, tax‑free(ish)!
Australia’s proposal to slap a 30% floor on capital gains makes New Zealand the friendlier side of the Ditch for company founders – at least for now.

Australia’s 2026 Federal budget tore up the old deal where, if an Australian investor held an asset for more than 12 months, they paid tax on only half the gain. ⌘ Read more

Private capital’s pent-up firepower faces frustration
Private capital transactions in New Zealand extended their 10-year, lumpy run-up in 2025, although pent-up funds awaiting deployment face potential frustration amid geopolitical, election and interest-rate uncertainty, new research shows.

“The [private capital] industry entered 2026 with a more measured but still constructive outlook,” NZ Private Capital executive director Colin McKinnon said. ⌘ Read more

NASA Keeps Track As Mexico City Sinks Into the Ground
An anonymous reader quotes a report from the Guardian: Walking into Mexico City’s sprawling central Zocalo is a dizzying experience. At one end of the plaza, the capital’s cathedral, with its soaring spires, slumps in one direction. An attached church, known as the Metropolitan Sanctuary, tilts in the other. The nearby National Palace also seems off-kilter. The tee … ⌘ Read more

Welcome to the Great American Satellite Age
A new generation of satellite startups in San Francisco is racing to capitalize on recent technological breakthroughs in space-based data collection and communications. ⌘ Read more

DeepSeek V4 Arrives With Near State-of-the-Art Intelligence At 1/6th the Cost
An anonymous reader quotes a report from VentureBeat: The whale has resurfaced. DeepSeek, the Chinese AI startup offshoot of High-Flyer Capital Management quantitative analysis firm, became a near-overnight sensation globally in January 2025 with the release of its open source R1 model that matched proprietary U.S. giants … ⌘ Read more

Apple CEO Tim Cook Is Stepping Down
Apple announced that Tim Cook will step down as CEO in September after 15 years in the role, handing the job to hardware chief John Ternus. Longtime Slashdot reader sinij shares the news from MarketWatch: Cook leaves an impressive legacy after growing the company to a $4 trillion market capitalization from just $300 billion 15 years ago. Over Cook’s 15-year tenure as CEO, Apple’s stock has risen 1,932%, … ⌘ Read more

Brazil’s UFO Capital Marks 30 Years Since ‘Alien Encounter’
Thirty years after the alleged 1996 “ET of Varginha” encounter, debate continues to rage over the events that happened in Brazil’s self-styled UFO capital. An anonymous reader quotes an excerpt from the Guardian: The skies over this far-flung coffee-growing hub went charcoal black, the heavens opened and one of Brazil’s greatest mysteries was born. “ … ⌘ Read more

AMD Will Bring Its ‘Ryzen AI’ Processors To Standard Desktop PCs For First Time
An anonymous reader quotes a report from Ars Technica: AMD has been selling “Ryzen AI”-branded laptop processors for around a year and a half at this point. In addition to including modern CPU and GPU architectures, these are attempting to capitalize on the generative AI craze by offering chips with neural processi … ⌘ Read more

After US-Israel Attacks, 90 Million Iranians Lose Internet Connectivity
CNN reports that images from Iran’s capital “have shown cars jammed along Tehran’s street, with heavy traffic on major roads after today’s wave of attacks by the US and Israel.” And though Iran has a population of 93 million, the attacks suddenly plunged Iran into “a near-total internet blackout with national connectivity at 4% of or … ⌘ Read more

Long Before Tech CEOs Turned To Layoffs To Cover AI Expenses, There Was WorldCom
Long-time Slashdot reader theodp writes:

Jeopardy time. A. This company spurred CEOs to make huge speculative capital expenditures based on wild unverified claims of future demand, resulting in the layoffs of tens of thousands of workers to reduce the resulting expenses, harming their core businesses. Q. What is Op … ⌘ Read more

PayPal Discloses Data Breach That Exposed User Info For 6 Months
PayPal is notifying customers of a data breach after a software error in a loan application exposed their sensitive personal information, including Social Security numbers, for nearly 6 months last year. From a report: The incident affected the PayPal Working Capital (PPWC) loan app, which provides small businesses with quick access to financing. PayP … ⌘ Read more

CIA Makes New Push To Recruit Chinese Military Officers as Informants
An anonymous reader shares a report: Just weeks after a dramatic purge of China’s top general, the CIA is moving to capitalize on any resulting discord with a new public video targeting potential informants in the Chinese military. The U.S. spy agency on Thursday rolled out the video depicting a disillusioned mid-level Chinese military o … ⌘ Read more

Anthropic Raises $30 Billion at $380 Billion Valuation, Eyes IPO This Year
Anthropic has raised $30 billion in a Series G funding round that values the Claude maker at $380 billion as the company prepares for an initial public offering that could come as early as this year. Investors in the new round include Singapore sovereign fund GIC, Coatue, D.E. Shaw Ventures, ICONIQ, MGX, Sequoia Capital, Founders Fund … ⌘ Read more

The Big Money in Today’s Economy Is Going To Capital, Not Labor
The American economy’s most valuable companies are now worth trillions of dollars more than their predecessors were a generation ago, yet they employ a fraction of the workers – and a new analysis by the Wall Street Journal argues that this widening gap between capital and labor is the defining economic story of our time.

Labor received 58% of gross dom … ⌘ Read more

AI Gold Rush is Resurrecting China’s Infamous 72-hour Work Week - in US
The AI boom has revived a workplace philosophy that China’s own regulators cracked down on years ago: the 72-hour work week, known as 996 for its 9am-to-9pm, six-days-a-week cadence. US startups flush with venture capital are now openly advertising it as a feature, not a bug. Rilla, a New York-based AI company that monitors sales reps in … ⌘ Read more

Leica Camera’s Owners Weigh $1.2 Billion Sale of Controlling Stake
The owners of Leica Camera AG – Austrian billionaire Andreas Kaufmann and private equity giant Blackstone – are considering a sale of a controlling stake in the German camera maker in a deal that could value the company at about $1.2 billion, Bloomberg reported, citing people familiar with the matter.

HSG, formerly known as Sequoia Capital China, … ⌘ Read more

Amazon in Talks To Invest Up To $50 Billion in OpenAI
An anonymous reader shares a report: Amazon is in talks to invest up to $50 billion in OpenAI, according to people familiar with the matter, in what would be a giant bet on the hot AI startup. The ChatGPT maker is seeking up to $100 billion in new capital from investors, a round that could value it at as much as $830 billion, The Wall Street Journal previously reported.

An … ⌘ Read more

AI Company Eightfold Sued For Helping Companies Secretly Score Job Seekers
Eightfold AI, a venture capital-backed AI hiring platform used by Microsoft, PayPal and many other Fortune 500 companies, is being sued in California for allegedly compiling reports used to screen job applicants without their knowledge. From a report: The lawsuit, filed on Tuesday accusing Eightfold of violating the Fair Credit … ⌘ Read more

Energy Costs Will Decide Which Countries Win the AI Race, Microsoft’s Nadella Says
Energy costs will be key to deciding which country wins the AI race, Microsoft CEO Satya Nadella has said. CNBC: As countries race to build AI infrastructure to capitalize on the technology’s promise of huge efficiency gains, Nadella told the World Economic Forum (WEF) on Tuesday that “GDP growth in any place … ⌘ Read more

Stratechery Pushes Back on AI Capital Dystopia Predictions
Stratechery’s Ben Thompson has published a lengthy rebuttal to Dwarkesh Patel and Philip Trammell’s widely discussed winter break essay “Capital in the 22nd Century,” arguing that even in a world where AI can perform all human jobs, people will still prefer human-created content and human connection.

Patel and Trammell’s thesis draws on Thomas Piketty’s wor … ⌘ Read more