Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Time’

Time, not material goods, ‚raises happiness‘

Posted by hkarner - 27. Juli 2017

Date: 26-07-2017
Source: BBC

Using money to free-up time is linked to increased happiness, a study says.

In an experiment, individuals reported greater happiness if they used £30 ($40) to save time – such as by paying for chores to be done – rather than spending the money on material goods.

Psychologists say stress over lack of time causes lower well-being and contributes to anxiety and insomnia.

Yet, they say even the very wealthy are often reluctant to pay people to do the jobs they dislike.

„In a series of surveys we find that people who spend money to buy themselves more free time are happier – that is they have higher life satisfaction,“ said Dr Elizabeth Dunn, a psychologist professor at the University of British Columbia, Canada.

Life satisfaction Den Rest des Beitrags lesen »


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Find Out If a Robot Will Take Your Job

Posted by hkarner - 21. April 2017

Date: 20-04-2017
Source: TIME

At a community college in upstate New York, 12 cafeteria workers recently learned that they will lose their jobs — and be replaced by self-serve machines. It’s an issue that has played out in communities across the country, as robots get better and better at doing jobs — from taking fast food orders to mining coal — that once belonged to humans.

Is your job next? The answer to that question is complicated, according to a report by management consultant McKinsey, but most workers don’t need to worry. Experts found that less than 5% of jobs can be completely replaced by technology, though nearly every job involves tasks that robots could learn to do.
Enter your occupation below to see how much of your work may someday be done by machines.

Jobs with predictable activities in structured environments are the easiest to replicate with robots, a process known as automation. McKinsey estimates that 51% of all job-related activities in the U.S. economy fit this description, largely in manufacturing, food service and retail trade sectors. Den Rest des Beitrags lesen »

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Mikhail Gorbachev: ‚It All Looks as if the World Is Preparing for War‘

Posted by hkarner - 28. Januar 2017

Date: 27-01-2017
Source: TIME

Gorbachev CCMikhail Gorbachev was the president of the Soviet Union and is the author of The New Russia.

The world today is overwhelmed with problems. Policymakers seem to be confused and at a loss.

But no problem is more urgent today than the militarization of politics and the new arms race. Stopping and reversing this ruinous race must be our top priority.
The current situation is too dangerous.

More troops, tanks and armored personnel carriers are being brought to Europe. NATO and Russian forces and weapons that used to be deployed at a distance are now placed closer to each other, as if to shoot point-blank.

While state budgets are struggling to fund people’s essential social needs, military spending is growing. Money is easily found for sophisticated weapons whose destructive power is comparable to that of the weapons of mass destruction; for submarines whose single salvo is capable of devastating half a continent; for missile defense systems that undermine strategic stability. Den Rest des Beitrags lesen »

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American Capitalism’s Great Crisis

Posted by hkarner - 9. Juni 2016

Date: 08-06-2016
Source: TIME

Young Americans no longer perceive benefits from capitalism, and such sentiments will influence the outcome of the US presidential election. The system of US market capitalism is broken, explains Rana Foroohar, author and Time magazine’s assistant managing editor for economics and business. Only about 15 percent of wealth from individual and corporate savings is invested in businesses for adding new jobs, wealth and economic growth. Once, business investment represented the majority of bank financing and, instead, banks direct funds toward housing or existing stocks and bonds. Academics describe an era of “financialization” with excessive speculation, debt, focus on short-term profits as well as stagnant growth for jobs and wages. The financial sector represents about 7 percent of the U.S. economy, up from about 4 percent in 1980, and takes about 25 percent of corporate profits while creating about 4 percent of jobs, she reports. Foroohar concludes that financial institutions are no longer providing clear, measurable economic benefit. The US election offers an opportunity for serious debate and new policies for education, taxation, retirement and more. – YaleGlobal

Capitalism is failing advanced economies and young adults with financialization of economy: debt, speculation, short-term profits, stagnant job and wage growth
Forohaar ccRana Foroohar, Rana Foroohar is TIME’s assistant managing editor in charge of economics and business.

How Wall Street is choking our economy and how to fix it

A couple of weeks ago, a poll conducted by the Harvard Institute of Politics found something startling: only 19% of Americans ages 18 to 29 identified themselves as “capitalists.” In the richest and most market-oriented country in the world, only 42% of that group said they “supported capitalism.” The numbers were higher among older people; still, only 26% considered themselves capitalists. A little over half supported the system as a whole. Den Rest des Beitrags lesen »

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Greece’s Future Hangs in Balance as Creditors Reject Aid Extension

Posted by hkarner - 28. Juni 2015

Date: 28-06-2015
Source: TIME

It is uncertain whether Greece will be able to continue to receive emergency support for its banks

(BRUSSELS) — Greece’s place in the euro currency bloc looked increasingly shaky on Saturday after eurozone nations rejected a month-long extension to its bailout program and the prime minister called for a risky popular vote on the country’s financial future.

Worried Greeks queued outside banks for cash amid the uncertainty, while eurozone finance ministers deciding to hold a meeting without Greece to assess how to keep the euro currency union stable in the face of heightened risks that Greece could drop out. Den Rest des Beitrags lesen »

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Business Is Getting More Sustainable. Too Bad It’s Not Good Enough

Posted by hkarner - 19. Dezember 2013

Date: 19-12-2013
Source: TIME

A new report finds that a little more than half of companies are emitting too much carbon. But there are bright spots — and signs that sustainability can pair with economic growth

Business still isn’t sustainable enough to avert dangerous climate change

For all the political controversy in the U.S. over climate change — and the resulting gridlock — much of corporate America has been surprisingly farseeing on global warming, even if it’s not always something CEOs like to talk about. Earlier this month, the environmental-data company CDP reported that at least 29 companies — including oil and gas corporations like ExxonMobil that have financed climate skeptics in the past — have begun incorporating a price on carbon into their long-term plans. They know that climate change is real, and that any financially responsible corporation needs to prepare for a future in which carbon will be a regulated substance. Politicians — especially in Congress — may have the luxury of letting ideology trump facts, but CEOs who answer to shareholders don’t. Den Rest des Beitrags lesen »

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Cool on Summers

Posted by sschleicher - 24. August 2013

SIR – You kindly reminded us that Time named Larry Summers a member of “the committee to save the world” for the way he managed the financial crises of the 1990s (“Summers v Yellen”, August 10th). What you did not mention is that as Treasury secretary under Bill Clinton, Mr Summers was instrumental in undoing the main provisions of the Glass-Steagall Act, which had limited the types of risky activities banks could get involved in. Nine short years after the repeal of that act America had its worst financial crisis since the Depression.

Mr Summers has also been an outspoken critic of regulating the derivatives market, which is estimated to be worth $639 trillion. If (more likely when) this market crashes, the havoc that will be wrought will make the financial crisis of 2008 look like a picnic at the beach. By deed and by word, Mr Summers has shown that he is not fit to run the Federal Reserve.

Assistant professor ESC Rennes School of Business
Rennes, France

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The Indian Rupee Keeps Falling While New Delhi Scrambles for Solutions

Posted by hkarner - 24. August 2013

Date: 22-08-2013
Source: TIME

Rupee CCThe rupee is in trouble, and nobody seems quite sure what to do about it. The Indian currency closed at an all-time low of 64.11 against the U.S. dollar on Wednesday alongside a tumbling market, feeding widespread anxiety over the fact that the government has yet to curb the currency’s downward trajectory since it started tumbling in May. On Wednesday, Deutsche Bank issued a report saying the rupee may reach as low as 70 in the coming months.

It’s the latest bit of unwelcome news in a bad few years for the Indian economy, which has slowed from its rapid 9% growth rate to a forecast of between 5.5% and 5.7% for this fiscal year.

Why is it the rupee’s turn to take a beating? Part of the problem is not India’s alone. With the U.S. Federal Reserve expected to start tapering off a stimulus program that has pumped cash into the global economy, investors have grown wary of the emerging markets they became so fond of in recent years. Countries running their own current account deficits (CAD) have borne the brunt of the mood swing: currencies in India, Brazil and Indonesia, among others, have seen drops as investors pull money out ahead of the Fed’s anticipated tightening. Den Rest des Beitrags lesen »

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Europe’s False Recovery

Posted by hkarner - 18. August 2013

Date: 17-08-2013
Source: TIME

When is a recovery not a recovery? When it comes in the euro zone.

On Wednesday, Europe officially vaulted out of its longest recession since the creation of the single currency, growing 0.3% after shrinking exactly that much in the first quarter. While that still only adds up to 0% growth, European officials are already lauding their “success” and attempting to rebrand their much maligned economic formula of austerity. “The data … supports, in my view, the fundamentals of our crisis response: a policy mix where building a stability culture and pursuing structural reforms supportive of growth and jobs go hand in hand,” said Olli Rehn, the E.U.’s Commissioner for Economic and Monetary Affairs.

The markets, desperate for a bit of good news in Europe, are now hoping for more: investors are more bullish on euro-zone equities than at any time since January 2008, according to a monthly fund managers’ poll from Bank of America Merrill Lynch. But a better European stock market presupposes continued economic growth. And if you look closely as the last quarter recovery, it’s built on shaky foundations, like a one-off weather-related rebound (German and French construction picked up after a long, slow, cold winter), as well as a boost in export demand from outside Europe that German manufacturers themselves say probably won’t continue. Credit is still tight, which will constrain business investment, and while consumer spending has picked up a bit, French and German shoppers can’t make up for a lack of demand in countries like Spain, Italy and the Netherlands, which are still in recession. Meanwhile, some 20 million people in the euro zone are still out of a job — a record 12.1%. That’s unlikely to change anytime soon. Den Rest des Beitrags lesen »

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Cyprus Rescue: The Destruction of a Tax Haven

Posted by hkarner - 25. März 2013

Date: 25-03-2013
Source: TIME

Cyprus is paying a high price for the $13 billion financial rescue it finally obtained from the European Union early Monday after a week of high drama: the destruction of a key pillar of its economy, its status as the offshore tax haven of choice for wealthy Russians.

Under the terms of the deal, Cyprus will proceed with a massive cutback of its major banks. The biggest losers will be bondholders and depositors who have more than $130,000 in their accounts; the exact size of their losses still has to be calculated, but it could easily be above 20% and perhaps much higher in some cases. However, smaller depositors with less than $130,000 will be spared, a significant change from the initial rescue deal agreed a week ago that was rejected by the Cyprus parliament. Under that arrangement, all bank account holders would have been taxed, regardless of the size of their deposits, to enable the island to come up with its own $7.5 billion contribution towards the bailout.

The deal still needs to be formally ratified by parliaments in E.U. countries, but – crucially – it has already jumped the biggest hurdle, that of approval in Cyprus itself. On Friday, the island’s parliament approved a range of legislation, including one to restructure the banking sector, which enabled the deal to be sealed. Den Rest des Beitrags lesen »

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