Föhrenbergkreis Finanzwirtschaft

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Archive for 1. Juli 2017

Drittgrößte Bank Japans zieht wegen Brexit nach Frankfurt

Posted by hkarner - 1. Juli 2017

1. Juli 2017, 12:29 derstandard.at

Derzeit arbeiten rund 1.000 Mitarbeiter der Sumitomo Mitsui Financial Group in London Tokio – Japans drittgrößte Bank Sumitomo Mitsui Financial Group (SMFG) wird einem Pressebericht zufolge wegen des Brexits ihre Europa-Zentrale von London nach Frankfurt verlegen. Damit sei auch ein Umzug von Beschäftigten verbunden, berichtete die Wirtschaftszeitung „Nikkei“ berichtete am Samstag, ohne dies zu beziffern. Derzeit arbeiten rund 1.000 SMFG-Mitarbeiter in London.

Die beiden größten japanischen Wertpapierhändler Nomura Holdings und Daiwa Securities haben sich bereits für Frankfurt als ihren künftigen Standort in der EU entschieden. Nach dem geplanten EU-Austritt Großbritanniens brauchen in London ansässige Finanzinstitute eine eigene Gesellschaft mit Banklizenz in einem EU-Land, um ihre Produkte und Dienstleistungen in den verbleibenden 27 Mitgliedstaaten vertreiben zu dürfen. Den Rest des Beitrags lesen »

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A European Economic Miracle?

Posted by hkarner - 1. Juli 2017

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American politics: Donald Trump’s Washington is paralysed

Posted by hkarner - 1. Juli 2017

Date: 29-06-2017
Source: The Economist

And the man in the Oval Office is making a bad situation worse

JULY 4th ought to bring Americans together. It is a day to celebrate how 13 young colonies united against British rule to begin their great experiment in popular government. But this July 4th Americans are riven by mutual incomprehension: between Republicans and Democrats, yes, but also between factory workers and university students, country folk and city-dwellers. And then there is President Donald Trump, not only a symptom of America’s divisions but a cause of them, too.

Mr Trump won power partly because he spoke for voters who feel that the system is working against them, as our special report this week sets out. He promised that, by dredging Washington of the elites and lobbyists too stupid or self-serving to act for the whole nation, he would fix America’s politics.

His approach is not working. Five months into his first term, Mr Trump presides over a political culture that is even more poisonous than when he took office. His core voters are remarkably loyal. Many businesspeople still believe that he will bring tax cuts and deregulation. But their optimism stands on ever-shakier ground. The Trump presidency has been plagued by poor judgment and missed opportunities. The federal government is already showing the strain. Sooner or later, the harm will spread beyond the beltway and into the economy. Den Rest des Beitrags lesen »

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Additive manufacturing: 3D printers will change manufacturing

Posted by hkarner - 1. Juli 2017

Date: 29-06-2017
Source: The Economist

Sceptics doubt the technology can be used for mass production. Just wait

MANUFACTURING advances often take time to catch on. Only later does their real significance become apparent. The flying shuttle, invented in 1733 by John Kay, a British weaver, allowed the production of wider pieces of cloth. Because its movement could be mechanised, the shuttle later became one of the innovations which paved the way for the Industrial Revolution. In 1913 Henry Ford brought motoring to the masses by making his Model T on a moving assembly line; but it was Ransom Olds, a decade earlier, who had come up with the idea of an assembly line to boost production of the Olds Curved Dash. Throughout the 1980s factory bosses scratched their heads over Taiichi Ohno’s Toyota Production System and its curious methods, such as the just-in-time delivery of parts. Now it is the global benchmark for factory efficiency.

What, then, to make of the potential of Chuck Hull’s invention in 1983 of “stereolithography”? Mr Hull is the co-founder of 3D Systems, one of a growing number of firms that produce what have become known as 3D printers. These machines allow a product to be designed on a computer screen and then “printed” as a solid object by building up successive layers of material. Stereolithography is among dozens of approaches to 3D printing (also known as additive manufacturing). Den Rest des Beitrags lesen »

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Senior moment: Is Europe’s framework for resolving banks broken?

Posted by hkarner - 1. Juli 2017

Date: 29-06-2017
Source: The Economist

The liquidation of two Italian banks raises awkward questions. But the criticism is overdone

IF ONE goal has animated the reform of finance since the crisis of 2007-08, it has been a desire to spare taxpayers from having to pick up the bill for bank failures. Regulators have introduced stress tests to see how banks stand up to shocks; America’s latest round of tests concluded this week. They have forced banks to fund themselves with more equity and to issue layers of debt that are earmarked for losses in the event of severe trouble. They have even asked banks to draw up plans for their own dismemberment in the event of failure.

The first real tests of this post-crisis machinery were always going to happen in Europe, which has been damagingly slow to face up to the sorry state of its banks. One such trial occurred early in June, when the European Central Bank (ECB) declared that Banco Popular, a big Spanish lender, was failing or likely to fail. In that instance, the machinery purred. A new European agency, the Single Resolution Board (SRB), took charge. Popular’s shareholders and junior bondholders lost their money; another Spanish bank, Santander, raised its own cash to fund the purchase of Popular; taxpayers watched from the sidelines; and regulators hailed a textbook bank resolution. Den Rest des Beitrags lesen »

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Revelations: The political beliefs of evangelical Christians

Posted by hkarner - 1. Juli 2017

Date: 29-06-2017
Source: The Economist

Personal morality in politics is negotiable

TEN MINUTES BEFORE the Sunday morning service begins at the Free Chapel in Gainesville, Georgia, shuttle buses are ferrying worshippers from the north and south car parks to the church’s 3,000-seat auditorium. Newcomers are being welcomed with coffee and doughnuts in the Connections Lounge. Inside, the church is equipped with a lighting rig and sound system as for a gig by a soft-rock band. Most of the service is taken up with Christian pop, the congregation listening rather than singing along. This Pentecostal church has grown rapidly over the past decade, thanks to its charismatic pastor, Jentezen Franklin (pictured). It now has several campuses around the country, funded by the tithes paid by regular churchgoers. Mr Franklin is a member of Donald Trump’s evangelical advisory board.

Back in 2011, white evangelicals were the most likely group to say that personal morality was important in a president, according to the Public Religion Research Institute. Since Mr Trump became the Republican standard-bearer, they have become the least likely group to say that, changing what seems like a fundamental issue of morality to accommodate their support for the president.

One possible explanation for this swift change of heart is that many of those who identify themselves in surveys as evangelicals are not as religious as they seem. But Greg Smith of the Pew Research Centre says that idea is not supported by Pew’s polling of different religious groups, which shows that most self-described evangelicals are fairly observant. According to Pew, the president’s approval rating among white evangelicals is close to 80%, even though some of the younger ones are appalled by him. Den Rest des Beitrags lesen »

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