Föhrenbergkreis Finanzwirtschaft

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Archive for 29. Januar 2016

The Coming Wave of Oil Refugees

Posted by hkarner - 29. Januar 2016

Photo of Michael Meyer

Michael Meyer

Michael Meyer, a former communications director for UN Secretary-General Ban Ki-moon, is Dean of the Graduate School of Media and Communications at Aga Khan University in Nairobi.

JAN 29, 2016, Project Syndicate

NAIROBI – The idea that oil wealth can be a curse is an old one – and it should need no explaining. Every few decades, energy prices rise to the heavens, kicking off a scramble for new sources of oil. Then supply eventually outpaces demand, and prices suddenly crash to Earth. The harder and more abrupt the fall, the greater the social and geopolitical impact.

The last great oil bust occurred in the 1980s – and it changed the world. As a young man working in the Texas oil patch in the spring of 1980, I watched prices for the US benchmark crude rise as high as $45 a barrel – $138 in today’s dollars. By 1988, oil was selling for less than $9 a barrel, having lost half its value in 1986 alone. Den Rest des Beitrags lesen »

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The Three Fears Sinking Global Markets

Posted by hkarner - 29. Januar 2016

Photo of Anatole Kaletsky

Anatole Kaletsky

Anatole Kaletsky is Chief Economist and Co-Chairman of Gavekal Dragonomics. A former columnist at the Times of London, the International New York Times and the Financial Times, he is the author of Capitalism 4.0, The Birth of a New Economy, which anticipated many of the post-crisis transformations of the global economy. His 1985 book, Costs of Default, became an influential primer for Latin American and Asian governments negotiating debt defaults and restructurings with banks and the IMF.

JAN 29, 2016, Project Syndicate

LONDON – January is usually expected to be a good month for stock markets, with new money gushing into investment funds, while tax-related selling abates at the end of the year. Although the data on investment returns in the United States actually show that January profits have historically been on only slightly better than the monthly norm, the widespread belief in a bullish “January effect” has made the weakness of stock markets around the world this year all the more shocking.

But the pessimists have a point, even if they sometimes overstate the January magic. According to statisticians at Reuters, this year started with Wall Street’s biggest first-week fall in over a century, and the 8% monthly decline in the MSCI world index made January’s performance worse than 96% of the months on record. So, just how worried about the world economy should we be? Den Rest des Beitrags lesen »

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EZB-Milliarden erreichen die Unternehmen nicht

Posted by hkarner - 29. Januar 2016

Deutsche Wirtschafts Nachrichten  | 

Die seit Jahren expansive Geldpolitik der EZB verpufft nahezu wirkungslos. Eines ihrer Hauptziele ist, die Kreditvergabe von Banken an Unternehmen zu steigern. Doch auch im Dezember vergaben die Geldhäuser der Euro-Zone praktisch genauso wenig Darlehen an die Wirtschaft wie schon vor einem Jahr.

Die Geldpolitik der Europäischen Zentralbank (EZB) droht immer mehr zu scheitern. Im Dezember wurden nur 0,3 Prozent mehr Darlehen an nicht zur Finanzwirtschaft zählende Firmen als vor Jahresfrist vergeben, wie die Notenbank am Freitag mitteilte. Für November wurde zudem der Zuwachs auf 0,7 Prozent von zuvor gemeldeten 0,9 Prozent rückwirkend nach unten revidiert. An Privathaushalte im Währungsraum vergaben Banken im Dezember 1,4 Prozent mehr Darlehen.

Volkswirte werteten die Daten als enttäuschend. Die schwache Dynamik hole die EZB auf den Boden der Tatsachen zurück, kommentierte BayernLB-Volkswirt Johannes Mayr. „Vor allem im Bereich der Unternehmenskredite wurde überraschend die positive Entwicklung der Vormonate relativiert.“ Darlehen an Firmen machen Mayr zufolge etwa 40 Prozent der Kredite an die Privatwirtschaft aus. Sie sind ein wichtiger Indikator für die allgemeine Wirtschaftsentwicklung. Den Rest des Beitrags lesen »

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EU Plans New Tax Rules for Companies

Posted by hkarner - 29. Januar 2016

Date: 28-01-2016
Source: The Wall Street Journal

Commission seeks to thwart tax avoidance by multinational companies in the region

BRUSSELS—The European Union will propose on Thursday a new set of rules and common standards aimed at amending corporate tax legislation across the bloc’s 28 countries in an effort to thwart avoidance schemes and ensure wealthy multinationals pay their fair share.

The commission’s push marks a new attempt by the EU to stop large-scale corporate tax avoidance in Europe, where governments are struggling to close budget gaps in the wake of the financial crisis and assure citizens that large companies are being held accountable for paying their share of taxes. The bloc also is reeling from disclosures that multinational companies struck alleged sweetheart deals in countries such as Luxembourg that allowed them to pay very little tax in the EU. Den Rest des Beitrags lesen »

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Lessons Learned on Startups’ Shenzhen Tour

Posted by hkarner - 29. Januar 2016

Date: 28-01-2016
Source: The Wall Street Journal

Factories in the Chinese city yearn for business ties to Silicon Valley

Shenzen CCShenzhen, where some startups from Silicon Valley are forging business connections.

For the past few years, a flood of hardware startups based in Silicon Valley have been traveling to Shenzhen to find easier, better and less-costly ways to make products. Following six of those startups on a recent Shenzhen factory tour yielded some interesting trends and lessons:

1. More factories want startup business. With China’s economic slowdown and export slump, many factories that used to rely on big volume and low margin orders—and were reluctant to take smaller orders—are operating under capacity. “They want business from startups more than I expected,” says Chris Evdemon, a partner at a Beijing-based venture-capital firm, China’s Innovation Works. Mr. Evdemon runs the firm’s Silicon Valley office, which organized the trip for its portfolio companies.

2. Shenzhen-based factories are opening shops in San Francisco so they can be close to startups. Blue Clover Devices, or BCD, a manufacturer that used to make electronic parts for Audi and Volkswagen, moved its U.S. office from Silicon Valley to San Francisco last year so it can work more closely with startups. Seeed Studio, which works with makers and hardware startups globally, opened an office there last year, too. These are pure-play manufacturers so they are different from accelerators such as PCH’s Highway1 and HAX, which invest and take stakes in startups they work with. These manufacturers are also different from the brokers many startups can find online. If they can make a product and the price is right, they will make it themselves. Den Rest des Beitrags lesen »

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