Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Archive for 13. Juli 2018

May’s Brexit Plan Comes Just in Time for Supply Chains

Posted by hkarner - 13. Juli 2018

Date: 12-07-2018
Source: The Wall Street Journal

British leader’s proposal to tie U.K. to EU rules heartens some businesses but upsets advocates of a decisive break

LONDON—At the Channel Tunnel terminal in Folkestone, southeast England, trains arrive every seven minutes carrying trucks packed with goods from across Europe, spilling vehicles directly onto motorways that lead to Britain’s industrial heartlands.

The 25-mile undersea link between Britain and mainland Europe is critical to supply chains spanning the continent that require goods to arrive at their final destination exactly when they are needed.

With the clock ticking toward the U.K.’s planned exit from the European Union in March 2019, concern over the preservation of these delicate “just-in-time” systems after Brexit has moved from corporate boardrooms to Downing Street.

A new proposal from Prime Minister Theresa May to keep the U.K. closely tied to European Union product regulations and customs arrangements—critical to safeguarding integrated supply chains and the jobs that depend on them—sparked turmoil in her government this week.

Her plan led to the resignations of Boris Johnson and David Davis, who favor a decisive break with the bloc—and say the British economy will flourish once it is free of EU regulation and London can make new trade deals on its own. Mr. Johnson said the proposals risked making the U.K. “a colony” of the EU.

Downing Street’s embrace of a tight economic partnership in goods trade follows months of warnings from businesses about what they see as the risks to their carefully calibrated connections.

Executives worry that new checks on goods and the people transporting them as they enter the U.K. would gum up terminals such as Folkestone and the nearby port at Dover. They warn that even short delays could make just-in-time supply chains all but unworkable, potentially requiring them to rethink the U.K.’s place in their European operations. Den Rest des Beitrags lesen »

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Trump and the Russia Pipeline

Posted by hkarner - 13. Juli 2018

Date: 12-07-2018
Source: The Wall Street Journal By The Editorial Board

He’s right about Berlin’s energy dependence on Vladimir Putin.

President Trump is so prone to rhetorical excess that he sometimes hurts his own case even when he’s right. A case in point is his shellacking of Germany Wednesday for supporting a new Russian gas pipeline.

“Well, I have to say, I think it’s very sad when Germany makes a massive oil and gas deal with Russia, where you’re supposed to be guarding against Russia, and Germany goes out and pays billions and billions of dollars a year to Russia,” Mr. Trump said during a breakfast with NATO Secretary General Jens Stoltenberg.

“And the former Chancellor of Germany is the head of the pipeline company that’s supplying the gas. . . . So you tell me, is that appropriate? [B]ecause I think it’s not, and I think it’s a very bad thing for NATO and I don’t think it should have happened. And I think we have to talk to Germany about it.”

While he then went over the top in saying “Germany is totally controlled by Russia,” Mr. Trump’s rant is an accurate summary of Berlin’s role in the Nord Stream 2 project. The pipeline would link Russia and Germany via the Baltic Sea, doubling the capacity of the existing pipeline in that corridor, and bypassing other pipelines through Ukraine and central and eastern Europe. Den Rest des Beitrags lesen »

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And again the bastard is lying

Posted by hkarner - 13. Juli 2018

Date: 12-07-2018
Source: The Wall Street Journal
Subject: NATO Members Defend Military Contributions Amid Trump’s Demands

Germany says sole focus on spending is misplaced as U.S. president presses allies to target to 4%

BRUSSELS—President Donald Trump’s demand at the NATO summit for members to double military-spending commitments has reignited a debate among allies about what constitutes contributions to the alliance.

At the start of two days of meeting with NATO leaders, Mr. Trump signaled he would push the North Atlantic Treaty Organization to raise its defense-spending target—currently obliging members to spend 2% of economic output on defense—to as high as 4%. Only the U.S. spends more than 3%, with seven other countries above or near the 2% level.

In a tweet Thursday morning, Mr. Trump reiterated his new target.

But Germany, which has been in Mr. Trump’s crosshairs for spending only 1.24% of its gross domestic product on defense, said the sole focus on military spending is misplaced.

“I would like to see the businessman Donald Trump…not only look at the balance sheet, but also look at the output,” German Defense Minister Ursula von der Leyen said on the sidelines of the alliance gathering.

Germany, she said, is the second-largest troop contributor to NATO and the second-largest net payer into the alliance. Germany pays 14% of NATO’s annual budget, behind only the U.S., which finances 22%. Den Rest des Beitrags lesen »

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Was eine Heuschrecke am AC Milan findet

Posted by hkarner - 13. Juli 2018

Jakob Pallinger, 12. Juli 2018, 09:00 derstandard.at

Weil es bei dem italienischen Fußballklub finanziell bergab geht, übernimmt ihn ein amerikanischer Hedgefonds

Während alle Welt auf die Nationalmannschaften der Fußball-WM blickt, kann dabei so manche Klub-Veränderung untergehen. So hat der AC Milan zwar im Moment eine Spielpause, im Hintergrund des Vereins rumort es aber gewaltig. Der US-Hedgefonds Elliott hat dort das Ruder übernommen und will dem Verein mit einer Finanzspritze von 50 Millionen Euro unter die Arme greifen. Die Übernahme fügt sich in eine Reihe von Geschäftsführer- und Investorenwechseln. Vor rund einem Jahr übernahm der chinesische Geschäftsmann Li Yonghong den Verein von dem ehemaligen italienischen Ministerpräsidenten Silvio Berlusconi für 740 Millionen Euro. Allerdings war schon zu Beginn unklar, woher Li die Mittel für die Finanzierung nahm. Jedenfalls einen Teil des Geldes schoss die Anlagegesellschaft Elliott zu, welche die Darlehen hoch verzinste. Li soll allerdings bei der Rückzahlung der Kredite in Verzug geraten sein, seit Monaten hatte er bereits Investoren gesucht, welche die Zahlungsverpflichtungen des Vereins stemmen sollten.

Größter aktivistischer Hedgefonds

Nun wird Elliott Mehrheitseigentümer. Die von Paul Singer geleitete Anlagegesellschaft gilt als größter aktivistischer Hedgefonds der Welt. Die sogenannten „Heuschrecken“ sind Fonds, die offensiv in Unternehmen investieren, um Gewinne für Anleger herauszuschlagen, und oftmals das Management beeinflussen, um dies zu erreichen. Den Rest des Beitrags lesen »

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