Föhrenbergkreis Finanzwirtschaft

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Archive for 19. September 2017

Ex-Erste-Bank-Chef Uher heuert bei Volksbank Wien an

Posted by hkarner - 19. September 2017

Naja: nach einem ganzen Jahr ohne Job geht man auch als Ex-CEO (der Erste Bank Österreich) als einfaches Vorstandsmitglied zu einer (wohl nicht mehr lange existenten) Bank mit weniger als der halben Bilanzsumme. Die Ex-Erste Partie (CEO, VB Stmk etc) wird fortgesetzt. (hfk)

Die Volksbank Wien stockt den Vorstand um einen prominenten Banker auf: Thomas Uher, Ex-Chef der Erste Bank, wird Risikovorstand.

Der frühere Chef der Erste Bank Österreich, Thomas Uher, wird ab 15. Oktober als viertes Vorstandsmitglied der Volksbank Wien und dort das Ressort Risiko leiten. Das hat der Aufsichtsrat der Volksbank Wien AG heute, Dienstag, beschlossen.

Der Jurist Uher, Jahrgang 1965, startete seine Bank-Karriere 1989 bei der Creditanstalt-BV und war zuletzt als Vorstandsvorsitzender der Erste Bank der österreichischen Sparkassen AG tätig. Er ist verheiratet und hat zwei Töchter. Seinen Abgang bei der Erste Bank begründete damals Uher mit unterschiedlichen Ansichten mit Erste-Chef Andreas Treichl.

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Theresa May Finds Threats to Her Brexit Vision Within Her Own Cabinet

Posted by hkarner - 19. September 2017

Date: 19-09-2017
Source: The Wall Street Journal

Foreign Secretary Boris Johnson publishes article playing down transition period at heart of prime minister’s exit plan

LONDON—As Brexit negotiations hit a critical juncture, Prime Minister Theresa May is finding some of her biggest adversaries are in London, not Brussels.

Mrs. May is struggling to quell dissension from cabinet ministers as she prepares to deliver a major policy speech on Britain’s departure from the European Union, underscoring her tenuous position after a failed election gamble in June left her without a majority in Parliament.

Boris Johnson, Britain’s colorful and unpredictable foreign secretary, over the weekend outlined his own vision, undercutting Mrs. May ahead of her closely watched speech in Florence—her first on Brexit in six months—and fueling speculation he is positioning himself to succeed her.

In a 4,000-word piece in the Daily Telegraph, Mr. Johnson said Britain “will succeed mightily” outside the bloc. He made no mention of a transitional period in which EU rules would continue to apply and revived a discredited referendum promise that a post-Brexit Britain would be able to spend £350 million ($475 million) more a week on its public health-care system. Den Rest des Beitrags lesen »

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Germany’s Hour

Posted by hkarner - 19. September 2017

Robert Skidelsky, Professor Emeritus of Political Economy at Warwick University and a fellow of the British Academy in history and economics, is a member of the British House of Lords. The author of a three-volume biography of John Maynard Keynes, he began his political career in the Labour party, became the Conservative Party’s spokesman for Treasury affairs in the House of Lords, and was eventually forced out of the Conservative Party for his opposition to NATO’s intervention in Kosovo in 1999.

For the European Union to work, its strong members must be prepared to show solidarity with its weak members. And as long as Germany, the strongest of them all, opposes creating some mechanism to realize this imperative, the EU will limp from crisis to crisis – probably shedding members along the way.

Germany is the EU’s most populous state and its economic powerhouse, accounting for over 20% of the bloc’s GDP. Determining why Germany has been so economically successful appears to be elusive. But three unique features of its so-called Rhineland model stand out. Den Rest des Beitrags lesen »

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Redefining Europe, and Europeans

Posted by hkarner - 19. September 2017

Carl Bildt was Sweden’s foreign minister from 2006 to October 2014 and Prime Minister from 1991 to 1994, when he negotiated Sweden’s EU accession. A renowned international diplomat, he served as EU Special Envoy to the Former Yugoslavia, High Representative for Bosnia and Herzegovina, UN Special Envoy to the Balkans, and Co-Chairman of the Dayton Peace Conference. He is Chair of the Global Commission on Internet Governance and a member of the World Economic Forum’s Global Agenda Council on Europe.

For Europe to find its place in a rapidly changing world, its citizens will have to look beyond the nation-state as their sole source of personal identity. There are few “first nations” left in the world today – and that is a welcome development.

LEIPZIG – Traveling through Germany in the run-up to its federal election on September 24, one cannot help but be struck by the lingering signs of profound trauma from the 2015 refugee crisis.

German Chancellor Angela Merkel’s response to the crisis two years ago was to throw out the rulebook and open her country’s borders. She famously told the German people, “Wir schaffen das” (We can do it). Den Rest des Beitrags lesen »

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Frustrated EU fears Britain is ‘heading for the Brexit rocks’

Posted by hkarner - 19. September 2017

Date: 17-09-2017
Source: The Guardian

The view from Europe: Boris Johnson’s contribution to debate has not improved mood of EU negotiators

On Wednesday afternoon, with Jean Claude Juncker’s state of the union speech calling for swifter, deeper integration still ringing in their ears, a gaggle of political leaders in the European parliament met in a room opposite the chamber in Strasbourg.

In the appositely named Salle de Margaret Thatcher, Guy Verhofstadt, the colourful former Belgian prime minister who is coordinating MEPs’ response to Brexit, discussed with colleagues from the pro-European political parties on the parliament’s Brexit steering group how they should respond to the seeming stalemate in the Brexit negotiations. The latest draft of a parliamentary resolution was discussed, lamenting the failure of the talks to develop on the key opening issues – citizens’ rights, the Irish border and the financial settlement.

The resolution is set to advise the member states’ leaders, who will make the big decision at a summit in Brussels on 19-20 October, that the negotiations cannot move on to trade as things stand. “The talk at the meeting was mainly about when to hold a vote on it in the parliament,” an EU official said. “They want to have it on 3 October – the day before Theresa May makes her speech to Tory conference. They want the Tory delegates to hear about it.” Den Rest des Beitrags lesen »

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The debt trap How the student loan industry betrays young Americans. US student debt

Posted by hkarner - 19. September 2017

Thanks to H.F.

2017 09 06
Navient, spun off from Sallie Mae, has thrived as student loan debt spirals across the US. Its story reveals how, instead of fighting inequality, the education industry is reinforcing it

Daniel Rivero at https://www.theguardian.com/money/2017/sep/06/us-student-debt-loans-navient-sallie-mae

Among the 44 million Americans who have amassed our nation’s whopping $1.4tn in student loan debt, a call from Navient can produce shivers of dread.
Navient is the primary point of contact, or the “servicer”, for more student loans in the United States than any other company, handling 12 million borrowers and $300bn in debt. The company flourished as student loan debt exploded under the Obama administration, and its stock rose sharply after the election of Donald Trump. Den Rest des Beitrags lesen »

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The Cyber Age Has Hardly Begun

Posted by hkarner - 19. September 2017

Date: 18-09-2017
Source: The Wall Street Journal

The information sector accounts for less than 10% of GDP and 5% of jobs.

Apparently American companies can be organized now into two camps: smoking-hot tech firms and old economy roadkill. Economists cite soaring tech stock valuations as evidence of a two-speed economy. Yet Silicon Valley magic hasn’t benefited most companies or created jobs for most Americans. What’s going on?

Amazon’s market value is twice that of Wal-Mart and 500-fold that of evaporating Sears. Apple’s valuation is twice Exxon ’s , and Facebook and Google are each valued at 20-fold CBS . Next come 200 “unicorns,” private software-dominated startups each valued at over $1 billion. Uber has a valuation greater than all car rental companies combined, and 8-year-old Airbnb is worth as much as 80-year-old Marriott. Den Rest des Beitrags lesen »

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Yes, This Time It Is Different: But Not in Good Ways

Posted by hkarner - 19. September 2017

Thanks to H.F.

Wednesday, September 13, 2017, Charles Hugh Smith

Yes, this time it’s different: all the foundations of a healthy economy are crumbling into quicksand.
The rallying cry of Permanent Bulls is this time it’s different. That’s absolutely true, but it isn’t bullish–it’s terrifically, terribly bearish. Why is this time it’s different bearish going forward? The basic answer is that nothing that is structurally broken has actually been fixed, and the policy „fixes“ have fatally weakened the global financial system.
Let’s go over a handful of the many ways that this time it’s different, starting with the unprecedented level of central bank support of asset prices via the purchase of financial assets such as stocks and bonds.
A trillion here, a trillion there, and pretty soon you’re talking real „money“: Den Rest des Beitrags lesen »

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