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Archive for 8. April 2017

Schelling: Österreich nur mit 4,7 Prozent Anteil an faulen Krediten

Posted by hkarner - 8. April 2017

8. April 2017, 08:44 derstandard.at

Finanzminister: Griechenland mit 40 Prozent negativer Spitzenreiter – Zypern bei 35 Prozent – Deutschland mit nur 1,2 Prozent Klassenbeste

Valletta – Österreich liegt beim Anteil der sogenannten „faulen Kredite“ (non performing loans NPL) mit nur 4,7 Prozent sehr gut im EU-Vergleich. Finanzminister Hans Jörg Schelling (ÖVP) erklärte beim ECOFIN am Wochenende in Malta, dass die Spannweite in der EU zwischen 1,2 Prozent und 40 Prozent betrage. 40 Prozent an diesen faulen Krediten weist Griechenland auf, Zypern folgt mit 35 Prozent. Klassenbester ist Deutschland mit nur 1,2 Prozent. Jedenfalls habe sich die Lage der österreichischen Banken in den vergangenen Jahren nach der Finanzkrise deutlich verbessert. Ein gemeinsames EU-Vorgehen sei nicht gewünscht. Die EZB und Kommission seien dafür, verschiedenartige Maßnahmen einzusetzen, bis hin zu nationalen Abbaugesellschaften. Die Kommission soll auf Wunsch der EU-Finanzminister diese Maßnahmen definieren. (APA, 8.4.2017) – derstandard.at/2000055598075/Schelling-Oesterreich-nur-mit-4-7-Prozent-Anteil-an-faulen

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Why Your Financial Adviser Can’t Be Conflict Free

Posted by hkarner - 8. April 2017

Date: 08-04-2017
Source: The Wall Street Journal By JASON ZWEIG

‚Conflict free‘ is good marketing, but it is a bad description of financial advice, because it can lull investors into dangerous complacency

All financial advisers — like all people who perform a service for anyone else, including journalists — have conflicts of interest. That’s true regardless of whether they work for someone else or for themselves, whether they earn fees or commissions, or whether they call themselves “fiduciaries” who put clients’ interests ahead of their own.

Investors should bear that simple truth in mind as the U.S. Department of Labor announced this past week that it would delay a rule requiring anyone providing specific investment advice on retirement accounts to minimize conflicts of interest.

And you should be wary of financial advisers who aggressively market themselves with the label “conflict free.” No matter how sincerely they may believe it, that description is impossible. Den Rest des Beitrags lesen »

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How an Extended Period of Low Growth Could Reshape the Financial Industry

Posted by hkarner - 8. April 2017

Posted on by iMFdirect

By Gaston Gelos and Jay Surti

Versions in Français (French), Русский (Russian), and Español (Spanish)

What happens if advanced economies remain stuck in a long-lasting funk marked by tepid growth, low interest rates, aging populations and stagnant productivity? Japan offers an example of the impact on banks, and our analysis suggests that there could also be far-reaching consequences for insurance companies, pension funds, and asset-management firms.

You might argue that this scenario of economic malaise has already materialized; after all, interest rates and economic growth have been low since the financial crisis in 2008. The question is whether the post-crisis landscape represents a temporary departure from the pace of growth we’ve come to expect since World War II, or whether it’s the start of a new normal.

Notwithstanding the recent increase in long-term yields in some advanced economies, the Japanese experience suggests that we cannot be sure whether an exit from a low-growth/low interest rate trap is imminent or permanent. Den Rest des Beitrags lesen »

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Brexit: Securing a New English-speaking Union?

Posted by hkarner - 8. April 2017

Dank an H.F.!

03.04.2017 Author: F. William Engdahl, NEO

89653433It’s becoming clear that there is a far more ambitious strategy behind Great Britain’s exit from the European Union, the so-called Brexit. Far from a reluctant government led by Prime Minister Theresa May, forced to listen to the Vox Populi of the majority of voters in 2016 who voted to exit the European Union, signs emerge of a far more devious well-planned strategy at the highest levels of British power, including the House of Windsor and the powers of the formidable City of London financial institutions. Britain is ditching the EU as a failed option, and seems to be intent on building a new English-speaking Union together with the United States and with the nations of the Commonwealth–the former colonies of the British Empire prior to 1914.

The British have a long and varied history, emerging from their surprising defeat of the mighty Spanish Armada in 1588 to go on over the course of three centuries to become the most powerful empire on earth, until a Great Depression of 1873 followed by two devastating world wars in the 20th Century, forced her patriarchs to swallow hard and accept a junior partner role with the 1945 dominant power, the United States. Den Rest des Beitrags lesen »

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But this is what these smart Brits have voted for – they just didn’t have a clue!

Posted by hkarner - 8. April 2017

Date: 07-04-2017
Source: The Economist
Subject: To see how trade may work after Brexit, visit Dover’s docks

While goods from the European Union pass through seamlessly, those from elsewhere face long waits

TO MOST Britons, the white cliffs of Dover are symbols of independence and defiance, especially against any prospect of invasion from the continent. But the clifftops also afford an excellent view of one of the great success stories of Britain’s more recent integration with Europe: Dover’s eastern docks.

This is the centre of Britain’s seamless trade with the European Union. A long line of lorries snakes slowly but uninterruptedly around concrete concourses and onto the roll-on, roll-off ferries that make the short crossing to Calais. So smooth is the process that the port can handle 10,500 lorries a day. About £120bn ($150bn) of traded goods comes through Dover each year, 17% of Britain’s total. A few miles away at the Channel Tunnel, up to 6,000 more lorries arrive daily. Yet delays are rare because Britain’s membership of the EU’s single market and customs union mean there is almost no paperwork to hold things up.

Soon that will change. In two years Britain is due to leave the EU—including its single market and customs union, Theresa May has said. The prime minister’s vision of a “hard Brexit” will mean the return of customs barriers in some form, and thus hold-ups at the ports. Den Rest des Beitrags lesen »

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Welcome to Silicon Delta: Shenzhen is a hothouse of innovation

Posted by hkarner - 8. April 2017

Date: 06-04-2017
Source: The Economist

Copycats are out, innovators are in

ON A RECENT weekend several hundred academics and lawyers gathered in a hotel ballroom in Shenzhen for a discussion on “Innovation, inclusion and order”, an event jointly organised by the law schools at Peking, Oxford and Stanford universities. Legal conferences can be soporific, especially in China, and a scholar from Beijing duly set the tone by asserting that “order is important in the market.” But one of the local speakers livened things up by delivering a surprisingly stout defence of disruptive innovation. Xu Youjun, vice-chairman of the Shenzhen division of the Chinese People’s Political Consultative Conference, a government advisory body, said Shenzhen owed its success not to the government or the Communist Party but to its policy of allowing people to go “beyond the planned economy”. Den Rest des Beitrags lesen »

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