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Archive for 20. März 2018

Wiener Online-Banker N26 bekommen 160 Millionen Dollar

Posted by hkarner - 20. März 2018

20. März 2018, 08:48 derstandard.at

Zu den Investoren zählen der Versicherungskonzern Allianz und der chinesische Internetriese Tencent

Berlin/Wien – Das von den Wienern Valentin Stalf und Maximilian Tayenthal gegründete Banken-Start-up N26 mit Sitz in Berlin hat sich bei Investoren 160 Millionen Dollar (130 Millionen Euro) für das globale Wachstum besorgt. DER STANDARD hat exklusiv berichtet. Unter den Geldgebern sind der Versicherungskonzern Allianz und der chinesische Internetriese Tencent, teilte N26 am Dienstag mit. Die Smartphone-Bank habe seit dem Start im Jänner 2015 mehr als 850.000 Kunden gewonnen, bis Ende 2020 will man fünf Millionen Nutzer haben. Insgesamt bekam N26 damit 215 Millionen Dollar von Investoren. Den Rest des Beitrags lesen »

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Making the Case for Sovereign GDP-Linked Bonds

Posted by hkarner - 20. März 2018

Robert J. Shiller, a 2013 Nobel laureate in economics, is Professor of Economics at Yale University and the co-creator of the Case-Shiller Index of US house prices. He is the author of Irrational Exuberance, the third edition of which was published in January 2015, and, most recently, Phishing for Phools: The Economics of Manipulation and Deception, co-authored with George Akerlof.

The crises that erupted in countries like Ireland and Greece a decade ago would not have been so severe had their debt been linked to their economic performance. And the same is true today: Investors around the world will continue to accept the risk, given the unlimited upside to investing in entire economies.

LONDON – The time has come for national governments around the world to start issuing their debt in a new form, linked to their countries’ resources. GDP-linked bonds, with coupons and principal that rise and fall in proportion to the issuing country’s GDP, promise to solve many fundamental problems that governments face when their countries’ economies falter. And, once GDP-linked bonds are issued by a variety of countries, investors will be attracted by the prospect of high returns when some of these countries do very well.

This new debt instrument is especially exciting because of its monumental size. Although issues may start out small, they will be very important from the outset. The capitalized value of total global GDP is worth far more than the world’s stock markets, and could be valued today in the quadrillions of US dollars. Den Rest des Beitrags lesen »

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I am absolutely speechless!

Posted by hkarner - 20. März 2018

Date: 17-03-2018
Source: The Economist: Lexington
Subject: The Trump-whisperer

Mike Pompeo is where foreign-policy realism meets America First

EIGHT years ago Mike Pompeo was a 47-year-old greenhorn congressional candidate in Wichita, Kansas, with a modest business career and unremarkable limited-government views. He was best known for being the biggest recipient of campaign donations from Wichita’s largest private-sector employer, Koch Industries. No one, save possibly that company’s conservative mega-donor owners, marked him out for greatness. Yet with the Senate’s blessing, which is likely to be forthcoming, Mr Pompeo will shortly be the first person to have occupied the offices of both CIA director and secretary of state.

His rise is yet another illustration of how Donald Trump has turned the old order on its head. Because the president knew few Republican policy experts at the time of his election, and was despised by most of them, he turned to soldiers, businessmen and politicians to fill his senior positions. Gratifyingly for Mr Trump, who has a mixed view of politicians and admires real-world achievement, Mr Pompeo, one of four members of the House of Representatives thus favoured, was all of the above. Before his business career he graduated top of his class at West Point and served five years in a cavalry unit; he retains an air of the bullish straightforwardness military high-achievers exude. Mr Trump was allegedly sold the moment Mr Pompeo, a well-built man like the president, came barrelling into his office. Yet he left the army almost 30 years ago and his soldierly carriage is misleading. Den Rest des Beitrags lesen »

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EU Agrees on Brexit Transition Terms but Ireland Issue Remains

Posted by hkarner - 20. März 2018

Date: 19-03-2018
Source: The Wall Street Journal

Under the terms agreed, the U.K. would continue implementing all EU rules until the end of 2020, while having no say in future decisions

BRUSSELS—The European Union agreed Monday on the broad terms of Britain’s two-year transition deal after leaving the bloc in March 2019, according to an EU official familiar with the discussions.

Under the terms, agreed between the EU’s 27 national diplomats dealing with Brexit, the U.K. would continue implementing all EU rules under the jurisdiction of the bloc’s top court until the end of 2020, while having no say in future EU decisions.

The island of Ireland—in part EU territory, in part U.K. territory—remains “an issue” for the Brexit deal, the official added. Irish officials have warned that the re-emergence of a border on the island could threaten a 20-year-old peace accord allowing people and goods to move freely. Den Rest des Beitrags lesen »

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SIC Perspectives

Posted by hkarner - 20. März 2018

March 18, 2018

It’s been a week and I’m starting to recover from my post-SIC high. It’s a weird feeling. I love SIC, yet processing it all takes time. Imagine one of those brain maps that shows the neurons opening new pathways. That’s what SIC does. It opens connections that I didn’t previously have.

Mapping these new connections takes time, so I’ll have more to share over the next few weeks. What I’m going to give you today is a rather short letter covering my overall impressions – my sense of feel of what I took away – and a few of the great lines that really impacted me.

 

The Basic Questions I Wanted Answered at SIC

This was my 15th Strategic Investment Conference. Each year I walk away wondering how we can make the next one better, and so for we seem to have been able to do that. We set an incredibly high bar this year, according to the feedback we’re getting. Den Rest des Beitrags lesen »

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