Föhrenbergkreis Finanzwirtschaft

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Archive for 5. Februar 2017

Schwarzenberg nennt Österreichs Pläne für Arbeitsmarkt „Blödheit“

Posted by hkarner - 5. Februar 2017

4. Februar 2017, 12:31 derstandard.at

Ex-Außenminister: „Entweder sind sie EU-Mitglied oder sie sind es nicht“

schwarzenberg-ccPrag/Wien – Der Chef des außenpolitischen Ausschusses im tschechischen Abgeordnetenhaus, Karel Schwarzenberg, hat die Absicht Österreichs, den Zugang der EU-Bürger zum österreichischen Arbeitsmarkt zu beschränken, indirekt als „Blödheit“ bezeichnet.

„Österreich steht vor Wahlen und auch bei uns sagt man vor den Wahlen verschiedene Blödheiten“, sagte der ehemalige Außenminister gegenüber der Tageszeitung „Pravo“ (Samstag-Ausgabe). Österreich kann aber laut Schwarzenberg mit dieser Absicht bei der EU nicht durchkommen.

„Entweder sind sie EU-Mitglied oder sie sind es nicht (…) Glauben Sie, dass die EU den Österreichern das erlaubt, was sie England nicht erlaubt hat?“, so Schwarzenberg in dem Interview. Auf die Frage, ob der geplante Austritt Großbritanniens nicht eine Erosion der EU gestartet habe, antwortete Schwarzenberg, er könne „keine Blödheit ausschließen“. (APA, 4.2.2017) – derstandard.at/2000052104659/Schwarzenberg-nennt-OesterreichsArbeitsmarktplaene-Bloedheit

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Trump Begins to Chip Away at Banking Regulations

Posted by hkarner - 5. Februar 2017

Justifying his latest executive order, he said that „so many people, friends of mine, with nice businesses” had trouble getting loans.

Gillian B. White, theatlantic.com, Feb 3, 2017

Prior to a meeting with his economic advisory council on Friday morning, President Donald Trump held a briefing to set the agenda for it. “There’s nobody better to tell me about Dodd-Frank than Jamie,” Trump said, referring to 2010’s Dodd-Frank Act, the single most visible legislative consequence of the banking crisis, and also to J.P. Morgan’s CEO, Jamie Dimon, with whom he would later meet to discuss regulation. “We expect to be cutting a lot out of Dodd-Frank,” Trump said. “I have so many people, friends of mine, with nice businesses, they can’t borrow money, because the banks just won’t let them borrow because of the rules and regulations and Dodd-Frank.”

Hours later, as promised, the president issued a memorandum that sets in motion his plan to scale back the provisions of Dodd-Frank and repeal the upcoming fiduciary rule—the latest in his slate of executive orders aimed at decreasing regulations. Named for Senators Barney Frank and Chris Dodd, the bipartisan act—formally, it’s the Dodd–Frank Wall Street Reform and Consumer Protection Act—was responsible for creating more stringent rules regarding bank capitalization (that is, the amount of money that banks must have on hand), increasing compliance and reporting standards for banks, introducing stricter mortgage requirements, creating the Financial Stability Oversight Council (FSOC) and the Consumer Financial Protection Bureau (CFPB), and curbing excessive risk-taking and the existence of too-big-to-fail institutions on Wall Street.

Despite Trump’s calls for “cutting a lot,” Friday’s executive order is actually more of a command to review Dodd-Frank than to dismantle it. Den Rest des Beitrags lesen »

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Mehr als 5.000 Banker in EU mit Millionengage – 31 aus Österreich

Posted by hkarner - 5. Februar 2017

 Soviel zur Einschränkung der Bankster-Gehälter anlässlich der Finanzkrise! (hfk)

3. Februar 2017, 16:04 derstandard.at

Zahl der Großverdiener in Europa 2015 deutlich gestiegen, die meisten waren Briten – Höchste Einzelgage 34 Millionen Euro

Wien – In der EU hat die Zahl der Banker, die mehr als eine Million Euro im Jahr verdienen, stark zugenommen. Das geht aus einem von der Europäischen Bankenaufsicht EBA am Freitag publizierten Bericht zu den Großverdienern in der europäischen Finanzwirtschaft hervor. Den EBA-Daten zufolge ist die Zahl der Großverdiener 2015 „signifikant“ gestiegen: Demnach haben in dem Jahr 5.142 Manager in Finanzinstitutionen mehr als eine Million Euro (Fixgehalt samt Bonus) bezogen, ein Jahr davor waren es 3.865 gewesen. Das war ein Zuwachs um ein Drittel gegenüber 2014 und um fast 62 Prozent mehr als 2013.

Meiste Gagenkaiser aus Großbritannien

Mit Abstand die meisten dieser Gagenmillionäre fanden sich in Großbritannien, nämlich 4.133. An zweiter Stelle in Europa liegen die Deutschen, wo 279 Banker mehr als eine Million Euro auf ihren Konten hatte. In Österreich bezogen demnach 31 Bank-Manager Gagen von einer Million und darüber. Bei Investmentbankern und Asset-Managern können die Summen gigantische Höhen erreichen. Da finden sich in den EBA-Listen vereinzelte Bezieher von 34 Millionen Euro. Wer dies war, geht aus den EBA-Zahlen aber nicht hervor. Die EBA stützte sich bei ihren Auswertungen auf Berichte aus 22 Staaten. In acht von ihnen gab es weniger als zehn Großverdiener. In Griechenland, Finnland und Lettland gab es jeweils einen Millionär unter den Bankern. (APA, 3.2.2017) – derstandard.at/2000052071648/Mehr-als-5-000-Banker-in-EU-mit-Millionengage-31

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Navigating the New Abnormal

Posted by hkarner - 5. Februar 2017

Absolutely essential reading! (hfk)

Date: 03-02-2017
Source: Project Syndicate

sierakowskiSlawomir Sierakowski, founder of the Krytyka Polityczna movement, is Director of the Institute for Advanced Study in Warsaw.

sachsJeffrey D. Sachs, Professor of Sustainable Development and Professor of Health Policy and Management at Columbia University, is Director of the UN Sustainable Development Solutions Network. His books include The End of Poverty, Common Wealth, and, most recently, The Age of Sustainable

The Trump administration lacks both a global strategy and anyone who could formulate and implement one. And unless anti-populists in general – and the center left, in particular – face up to some hard realities, the menace of a rogue US will only grow.

The Populist Backlash

SS: You’ve written that Brexit and Trump are the same phenomenon. Do you think the populist wave that lifted both will spread further?

JS: I think societies everywhere are very divided. Whether it’s 51-49 or 49-51, we are not seeing landslide wins for populism, but rather a reflection of deep social divisions. And, yes, I think we’re going to see more of this, because there are so many anxieties that we don’t seem able to overcome.

Even the foundations of foreign policy are giving way. The Middle East crises are the result of America’s failure and fading global power, which are part of the social anguish many voters feel. Likewise, Brexit reflects a collapse in belief in the postwar order in Western Europe, which was forged during the Cold War but has now basically disintegrated.

SS: You attribute populism to four factors: rising nationalism, the weakening of American foreign policy, the crisis of the center left, and the refugee crisis. Yet you’re an economist. So what about economics? Den Rest des Beitrags lesen »

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Immigrants are bringing entrepreneurial flair to Germany

Posted by hkarner - 5. Februar 2017

Date: 04-02-2017
Source: The Economist

While native Germans are growing less eager to start businesses, new arrivals are ever more so

GERMANS are famous for hard work and efficiency, but not necessarily for entrepreneurialism. They are less likely to start a new business than Americans, Swedes or even the French (see chart). But the country’s recent wave of immigration appears to be giving its startup rate a boost. In 2015, 44% of newly registered businesses in Germany were founded by people with foreign passports, up from just 13% in 2003. In all, about one-fifth of those engaged in entrepreneurial activity were born abroad.

entrepreneurial-activityThat is likely to grow with the arrival of over a million refugees in the past two years. The number of self-employed people with a Middle Eastern background rose by almost two-thirds between 2005 and 2014, according to René Leicht and Stefan Berwing, researchers at the University of Mannheim. “There has been a marked increase in founding activity by people from Syria, Iraq and Afghanistan,” says Maik Leonhardt of IHK Berlin, an association of small and medium enterprises.

Some refugees come to Germany already dreaming of running their own firm. Iyad Slik’s family has a confectionery company in Syria, and when he arrived in Berlin three years ago he set out to recreate it. “We broke even for the first time last year,” says Mr Slik. His mission to convert Germans to eating candied fruit and nougat squares stuffed with Syrian pistachios is succeeding: he already counts KaDeWe, a high-end department store, and the glitzy Hotel Adlon among his clients.

Others become entrepreneurs by default. Hussein Shaker, a computer programmer, did not plan to set up a business when he came to Germany: “I just wanted a job in tech.” Stuck in a call centre, Mr Shaker realised that he was not the only one among his Syrian friends working beneath their qualifications. Together with partners from Berlin’s startup scene, he set up a website for refugees, MigrantHire, which currently matches 13,000 job-seekers with about 2,000 open positions. Den Rest des Beitrags lesen »

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Next-Generation Nuclear Power? Not Just Yet

Posted by hkarner - 5. Februar 2017

Date: 04-02-2017
Source: Technology Review

The West is struggling to build out safer reactors, but China shows no such delays.

New kinds of safer, simpler nuclear reactors are having a hard time becoming a reality—at least in certain countries.

Bloomberg reports that the nuclear industry is currently struggling to build out power production facilities that are supposed to make use of new generation III+ pressurized water uranium fission reactors. While generation III reactors have been in use since 1996, the newer „plus“ versions are supposed to incorporate extra safety features and require less operator input.

Problem is, they’re proving rather tricky to actually build. Projects in France, Finland, and the U.S. are running behind schedule and over budget. And newly committed projects, such as the U.K.’s Hinkley Point, are shaping up to be eye-wateringly expensive.

What gives? According to Lake Barrett, a former official at the U.S. Nuclear Regulatory Commission who spoke to Bloomberg: “The cost overrun situation is driven by a near-perfect storm of societal risk aversion to nuclear causing ultra-restrictive regulatory requirements, construction complexity, and lack of nuclear construction experience by the industry.” Den Rest des Beitrags lesen »

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