Föhrenbergkreis Finanzwirtschaft

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Archive for 6. August 2019

Darwin’s Ideas on Evolution Drive a Radical New Approach to Cancer Drug Use

Posted by hkarner - 6. August 2019

Date: 06-08-2019
Source: Scientific American By James DeGregori, Robert Gatenby

Principles of evolution and natural selection drive a radical new approach to drugs and prevention strategies

IN BRIEF

  • Medical efforts to defeat cancer typically focus on malignant mutations within a cell and administer large doses of toxic drugs in an attempt to eradicate the disease.
  • A new concept emphasizes that cancer growth is stimulated by changes outside the cell, alterations in the surrounding tissue that accelerate the evolution of cancerous traits.
  • The evolutionary approach, tested in animals and humans with advanced prostate cancer, sharply limits the natural selection of cancer cells through a more judicious use of chemotherapy.

This year at least 31,000 men in the U.S. will be diagnosed with prostate cancer that has spread to other parts of their body, such as bones and lymph nodes. Most of them will be treated by highly skilled and experienced oncologists, who have access to 52 drugs approved to treat this condition. Yet eventually more than three quarters of these men will succumb to their illness. Den Rest des Beitrags lesen »

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Doubts Rise Over Europe’s Readiness for a No-Deal Brexit

Posted by hkarner - 6. August 2019

Date: 05-08-2019
Source: The Wall Street Journal

EU dusts off contingency plans for a messy split after Boris Johnson says the U.K. will leave with or without a pact by Oct. 31

European Union flags fluttered outside the Houses of Parliament in London. Hundreds of thousands of small businesses in Britain and the EU are ill prepared for a no-deal Brexit, according to the Confederation of British Industry.

BRUSSELS—The European Union says it is ready for Britain to leave the bloc without a deal to smooth the split. Growing evidence says otherwise.

Until recently, few European officials believed a no-deal Brexit would happen, as their governments set in motion preparations. Now, Prime Minister Boris Johnson’s rising threats to take Britain out of the EU with or without a deal by the Oct. 31 deadline is prompting EU officials to dust off plans ranging from information campaigns to fast hirings of customs officers.

European leaders aim to boost Brexit awareness among smaller and midsize enterprises, officials say. Big companies are preparing by hiring consultants, shifting headquarters, stockpiling merchandise, preparing alternate transport methods and determining tariff rates or customs procedures that would apply to products traded with Europe. Den Rest des Beitrags lesen »

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There will be a day on which the US will be repaid…

Posted by hkarner - 6. August 2019

Date: 05-08-2019
Source: The Wall Street Journal
Subject: Huawei’s Phone Sales in China Get Patriotic Boost

Surge in domestic smartphone purchases is offsetting overseas weakness; ‘I think the United States is very ridiculous’

Many Chinese consumers are buying Huawei smartphones in a show of support for the company.

SHENZHEN, China—Huawei Technologies Co.’s smartphone sales are surging in China as a patriotic buying spree helps to blunt the impact of widening U.S. restrictions on the telecommunications giant.

Huawei’s share of smartphone sales in China soared by almost a third to a record 38% during the second quarter, according to market-research firm Canalys. All of Huawei’s major rivals, including Apple Inc. and Xiaomi Corp. lost ground in the period.

Booming domestic sales are, for now, helping the world’s No. 2 smartphone maker offset flagging shipments overseas, which have been hurt by concerns over the U.S. ban on sales of U.S.-sourced technology to the Chinese company. Den Rest des Beitrags lesen »

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Stocks Drop as Trade Battle Intensifies

Posted by hkarner - 6. August 2019

Date: 05-08-2019
Source: The Wall Street Journal

Chinese yuan depreciates to new low, following escalation in U.S.-China trade dispute

U.S. futures and global stocks started the week with sharp declines and the yuan depreciated to a new low as President Trump’s threat to impose more tariffs on Chinese goods continued to rattle investors.

The Stoxx Europe 600 was down 1.9%, led by losses in the basic resources sector, which dropped more than 3%.

“Trump escalating the rhetoric and tariffs puts pressure back on the Fed to do another rate cut,” said Christopher Peel, chief investment officer at Tavistock Wealth.

In the U.S., S&P 500 futures were down 1.5%. Futures don’t necessarily predict moves after the opening bell.

Government-bond yields continued to plumb new depths Monday on concerns about the global economy being hit by the U.S.-China trade conflict.

The German 10-year bund yield reached a record low at minus 0.573%, and was recently at minus 0.552%. The U.K 10-year gilt hit an intraday record low yield of 0.492%, but has since recovered slightly to 0.506%.

U.S. 10-year Treasurys yields fell to 1.783%, from 1.864% Friday. Bond yields and prices move in opposite directions. Den Rest des Beitrags lesen »

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Locating Equality

Posted by hkarner - 6. August 2019

Harold James is Professor of History and International Affairs at Princeton University and a senior fellow at the Center for International Governance Innovation. A specialist on German economic history and on globalization, he is a co-author of the new book The Euro and The Battle of Ideas, and the author of The Creation and Destruction of Value: The Globalization Cycle, Krupp: A History of the Legendary German Firm, and Making the European Monetary Union.

For years, wealth and income inequalities have been rising within industrialized countries, kicking off a broader debate about technology and globalization. But at the heart of the issue is a fundamental good that has been driving social and economic inequality for centuries: real estate.

MUNICH – Inequality is the leading political and economic issue of the current era, yet debates about it have long suffered from a degree of imprecision. For example, the standard measure of inequality, the Gini coefficient, reduces a country’s entire income distribution to a single number between zero and one, and is thus highly abstract. Similarly, while inequality is rising in many parts of the world, there is no simple correlation between that trend and social discontent or unrest. France is much less unequal than the United States, and yet it has similar or even greater levels of social polarization.

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Die EZB muss unter Lagarde moderner werden

Posted by hkarner - 6. August 2019

Marcel Fratzscher

Marcel Fratzscher, a former senior manager at the European Central Bank, is President of the think tank DIW Berlin and Professor of Macroeconomics and Finance at Humboldt University of Berlin.

BERLIN – Christine Lagarde, die Mario Draghi im November als Präsidentin der Europäischen Zentralbank nachfolgen soll, hofft möglicherweise, dass ihre Aufgabe etwas einfacher ausfallen wird als die ihres Vorgängers. Wahrscheinlicher ist das Gegenteil. Auch wenn Draghi damit betraut war, die EZB durch Jahre der Krise zu lenken: Lagarde wird in einer Zeit sich vertiefender Polarisierung zwischen den Regierungen der Mitgliedstaaten Reformen der Eurozone verfolgen müssen. Sie wird all ihre Fähigkeiten als politische Mittlerin, Krisenmanagerin und effektive Kommunikatorin brauchen, um die Unabhängigkeit und Effektivität der EZB zu schützen.

Eines ist schmerzhaft offensichtlich: Die Vollendung der Währungsunion ist inzwischen eine weit entfernte, unwahrscheinliche Aussicht. Den Regierungen der Mitgliedstaaten ist der Willen abhanden gekommen, eine Kapitalmarkt- oder Bankenunion, eine gemeinsame sichere Anleihe, eine gemeinsame Fiskal- und Stabilisierungspolitik oder die meisten anderen Reformen zu verfolgen. Die Mitgliedstaaten werden aus Mangel an gegenseitigem Vertrauen keinem weiteren nationalen Souveränitätsverzicht zustimmen, auch wenn von einer Bündelung dieser Souveränität auf europäischer Ebene letztlich alle profitieren würden. Den Rest des Beitrags lesen »

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The Right Response to the Libra Threat

Posted by hkarner - 6. August 2019

Co-Pierre Georg

Co-Pierre Georg, an associate professor at the University of Cape Town School of Economics, holds the South African Reserve Bank Research Chair in Financial Stability Studies.

Katharina Pistor is Professor of Comparative Law at Columbia Law School and the author of The Code of Capital: How the Law Creates Wealth and Inequality.

Facebook’s plans for a digital currency and payments system have understandably been met with skepticism, bordering on outrage. Clearly, if a serial violator of the public trust can unilaterally insinuate itself into the global monetary system, something must be done to manage the rise of digital private monies.

NEW YORK – Facebook’s a new digital currency, Libra, within a year has won few friends. Regulators, policymakers, and academics reacted to the news swiftly, and for the most part skeptically. US congressional committees quickly arranged hearings, and the issue featured prominently at the G7 meeting in France last month.

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About to Retire? Check Your Stock Exposure—Quickly

Posted by hkarner - 6. August 2019

Date: 05-08-2019
Source: The Wall Street Journal

We ran a simulation showing how various portfolio allocations performed for someone who had retired in 2000—and it was revealing

There are a lot of people thinking of retiring now because the bull market has boosted their 401(k)s.

But they may need to re-evaluate their allocations. And quickly.

Over the past decade, the S&P 500 has returned more than 13% on an annualized basis. And studies show that this is exactly when a lot of people choose to retire—the height of a bull market, when their portfolio is plump.

But those same studies show that people who retire at bull-market peaks have a higher chance of running out of money. That is because they wrongly assume big returns will continue to pile up—and then they lose a big chunk of cash when bear markets arrive.

So, investors about to retire may want to re-evaluate how their money is allocated. To assist in that effort, we ran a simulation showing how various portfolio allocations performed for someone who had retired in 2000, the beginning of a bear market, followed by another later in the decade. Den Rest des Beitrags lesen »

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