Föhrenbergkreis Finanzwirtschaft

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Archive for 22. Oktober 2019

Tech Treadmill Wears Firms Out

Posted by hkarner - 22. Oktober 2019

Date: 21-10-2019
Source: The Wall Street Journal

Once a company jumps on a new trend like streaming, it has to spend to stay ahead.

Does technology provide a competitive advantage? Companies are counting on it. In March McDonald’s spent $300 million buying an Israeli artificial-intelligence startup to personalize menus based on weather and trending items. Now they’re considering license-plate recognition systems for drive-through lanes. Based on your history they might offer to supersize your order, or just hand you your usual Happy Meal. CEO Steve Easterbrook says, “Technology is a critical element of our Velocity Growth Plan.”

The problem is that adopting a useful technology doesn’t mean your advantage will last. I’ve long been amused by a succession of Harvard Business Review pieces that demonstrate this point. In 1985 Michael E. Porter wrote “How Information Gives You Competitive Advantage,” then in 1990 came Max Hopper’s “Rattling SABRE—New Ways to Compete on Information,” and finally in 2013 we got Rita Gunther McGrath’s “The End of Competitive Advantage.” Each of these takes describes a different stage in the life cycle of corporate tech.

Hopper was, as Harvard professor James Cash noted, “the first person who really defined the marketing leverage that could come from using technology.” In the late 1950s Hopper helped build Sabre, an automated flight-reservation system, and in 1981 he helped design the first major frequent-flier program to give American Airlines a competitive “AAdvantage.” Yet by 1990 he worried that the game was over, suggesting that technology was “table stakes for competition.” Hopper noted that “SABRE’s real importance to American Airlines was that it prevented an erosion of market share.” Den Rest des Beitrags lesen »

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ABörsen-Crash von 1929: Kann sich die Finanzkatastrophe wiederholen?

Posted by hkarner - 22. Oktober 2019

Dank an H.G. 
SN, 18/10/2019, Hannes Breustedt
Vor 90 Jahren leitete der „Schwarze Donnerstag“ die große Weltwirtschaftskrise ein. Die Kombination aus Spekulationsblasen, Konjunkturflaute und Handelskonflikten endete in einem ökonomischen Totalabsturz. Einige Parallelen zur Gegenwart sind unübersehbar.
Broker am „Schwarzen Freitag“ 1929 in der New Yorker Börse: Innerhalb weniger Tage verloren Millionen Amerikaner ihr Vermögen, die Panik griff weltweit auf die Börsenplätze über. SN/AP Broker am „Schwarzen Freitag“ 1929 in der New Yorker Börse: Innerhalb weniger Tage verloren Millionen Amerikaner ihr Vermögen, die Panik griff weltweit auf die Börsenplätze über. Der Börsen-Crash von 1929 beendete den Wirtschaftsboom der Goldenen Zwanziger im vergangenen Jahrhundert abrupt. Der auf das Finanzbeben folgende Konjunktureinbruch ging als Great Depression in die Geschichtsbücher ein und gilt bis heute als schwerste und längste Weltwirtschaftskrise der Neuzeit. Vor allem der Schwarze Donnerstag am 24. Oktober bleibt als eines der dunkelsten Kapitel der Finanzhistorie in Erinnerung – in Europa aufgrund des Zeitunterschieds auch Schwarzer Freitag genannt. 90 Jahre später sind die Bewertungen an der Börse erneut bedenklich hoch. Und erneut halten Handelskonflikte und Konjunktursorgen Anleger in Atem – besteht das Risiko, dass sich ein Desaster wie damals wiederholt?

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World economy is sleepwalking into a new financial crisis, warns Mervyn King

Posted by hkarner - 22. Oktober 2019

Date: 21-10-2019
Source: The Guardian Larry Elliott in Washington

Past crashes spawned new thinking and reform but nothing has changed since 2008 banking meltdown, says former Bank of England boss

Lord King said resistance to new thinking meant a repeat of the financial chaos of the 2008-09 period was looming.

The world is sleepwalking towards a fresh economic and financial crisis that will have devastating consequences for the democratic market system, according to the former Bank of England governor Mervyn King.

Lord King, who was in charge at Threadneedle Street during the near-death of the global banking system and deep economic slump a decade ago, said the resistance to new thinking meant a repeat of the chaos of the 2008-09 period was looming. Den Rest des Beitrags lesen »

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Financial Markets Face Fresh Wave of Political Uncertainty: ‘There’s Literally Nowhere to Hide’

Posted by hkarner - 22. Oktober 2019

Date: 21-10-2019
Source: The Wall Street Journal

Investors spooked by widespread turmoil are seeking havens

The U.K. Parliament’s decision to postpone a final vote on the country’s exit from the European Union marks the latest geopolitical development likely to swing financial markets, highlighting the extreme levels of uncertainty that some investors worry isn’t being properly accounted for with U.S. stocks near all-time highs.

The U.S.-China trade war, Britain leaving the EU and impeachment proceedings in the U.S. are just some of the major political obstacles facing investors. Adding to the uncertainty are the Turkish military operation in Syria, attacks on Saudi oil production and social unrest spanning from Hong Kong to Barcelona.

In response, some investors are boosting holdings of cash and other assets that tend to hold their value when markets turn rocky. Others are recommending strategies that could protect against a swift downturn. Den Rest des Beitrags lesen »

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A massive money-laundering scandal stains the image of Nordic banks

Posted by hkarner - 22. Oktober 2019

Date: 21-10-2019
Source: The Economist

Danske and Swedbank will struggle to regain clients’ and regulators’ trust

Danske bank’s headquarters in Copenhagen, reminiscent of a Greek temple, speaks of an illustrious past. But Denmark’s biggest bank has “no vanity left”, says a spokesman. Since 2008 it has been embroiled in a disaster every five years. After one during the financial crisis, it was again in crisis mode in 2013 when the board sacked Eivind Kolding after 18 catastrophic months at its helm. Last year Thomas Borgen, Mr Kolding’s successor, resigned amid revelations about Danske’s role in a vast money-laundering scandal. In May Mr Borgen was charged by Denmark’s prosecutor.

The money-laundering crisis is the most damaging yet for Danske, and for other Nordic banks allegedly involved. Last year the Organised Crime and Corruption Reporting Project, a group of investigative journalists, gave Danske its “Corrupt Actor of the Year” award. How did the bank squander its good name—and can it regain clients’ and regulators’ trust? Den Rest des Beitrags lesen »

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