Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Archive for 2. Juli 2019

ECB’s Draghi Grows Bolder as His Tenure Nears End

Posted by hkarner - 2. Juli 2019

Date: 01-07-2019
Source: The Wall Street Journal

The president of the European Central Bank is doubling down on a tried-and-tested strategy in an attempt to guard the bloc against too-low inflation

Mario Draghi, who has three policy meetings left before his term ends, is shown speaking during a conference at the ECB headquarters in Frankfurt earlier in June.

FRANKFURT—Mario Draghi is teeing up some of the boldest policy moves of his eight-year term as European Central Bank president only four months before he steps down, potentially binding the hands of his successor for years.

The late burst of activism by the 71-year-old Italian is buoying European financial markets and catching the eye of President Donald Trump, even as it raises legal and practical questions about how much more the ECB can squeeze out of its existing toolbox.

The shift toward easier money, mirroring a move by the Federal Reserve, comes despite relative resilience in the eurozone economy, whose unemployment rate is at the lowest level in a decade.

Mr. Draghi’s final three policy meetings—in July, September and October—are suddenly in play for a policy decision. Analysts expect the ECB to cut interest rates, which are already negative, at or before its Sept. 12 meeting. Some also expect Mr. Draghi to announce the relaunch of the bank’s €2.6 trillion ($3 trillion) bond-buying program, known as quantitative easing or QE. Den Rest des Beitrags lesen »

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How Microsoft survived creative destruction

Posted by hkarner - 2. Juli 2019

Date: 01-07-2019
Source: The Economist: Bartleby

The tech giant’s transformation required a change of culture

LIKE AN NFL changing room, the technology industry is littered with the bodies of fallen champions, from AOL to Yahoo to Blackberry, in urgent need of rehabilitation. Ten years ago many might have expected Microsoft to end up in the same state. But the software giant has made a startling comeback, regularly vying for the title of the most valuable company on global stockmarkets, with a market capitalisation above $1trn.

The story of this revival is the subject of a new case study by Hermania Ibarra and Adam Jones of London Business School (LBS). In large part, the success has resulted from a shift away from a focus on the Windows operating system and towards Azure, Microsoft’s cloud-based services offering. It involved a willingness to let Microsoft programs run on Apple and Android smartphones, something the company had previously avoided. Den Rest des Beitrags lesen »

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The war on money-launderers’ vehicle of choice intensifies

Posted by hkarner - 2. Juli 2019

Date: 01-07-2019
Source: The Economist

Some of the biggest offshore centres are increasing transparency about ownership

Financial crimes come in all shapes and sizes, from politicians siphoning off state wealth and officials taking bungs to terrorists buying arms and gangs laundering drug profits. A common element is the use of shell companies, partnerships or foundations to hide the identities of those moving dirty money. Such brass-plate entities, whose ownership is typically hard if not impossible to trace, were at the heart of the theft from 1mdb, a Malaysian state fund, and a $230bn money-rinsing scandal at Danske Bank. They have been dubbed the “getaway cars” of financial crime.

ngos such as Global Witness and Transparency International have long highlighted shells’ pernicious role, picking up support from government investigators sick of trails going cold. Their biggest success was to persuade Britain, in 2016, to become the first g20 country to set up a public register of company owners. The rest of the European Union is set to follow once a new money-laundering directive takes effect. That leaves plenty of gaps. But two of the biggest, Britain’s offshore territories and America, are also moving in the direction of ditching secrecy. Den Rest des Beitrags lesen »

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