Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘WSJ’

The Truth Is Catching Up With Tesla

Posted by hkarner - 9. Oktober 2017

Date: 08-10-2017
Source: The Wall Street Journal

CEO Elon Musk is a visionary, but there is a fine line between setting aggressive goals and misleading shareholders

New revelations about Tesla Inc.’s production of the highly anticipated Model 3 sedan should shock, but not surprise, investors.

The Wall Street Journal reported Friday that Tesla has recently been building major portions of the Model 3 by hand. This comes less than a week after Tesla announced it fell short of its third-quarter production guidance of 1,500 cars by more than 80%.

At the time, Tesla attributed the shortfall to “production bottlenecks.” On Friday, Tesla said it would postpone its launch event for a new truck to November to deal with Model 3 issues and to help provide assistance to Puerto Rico.

Tesla Chief Executive Elon Musk is known as a risk-taker, which has endeared him to Wall Street analysts and investors alike. There is a fine line, however, between setting aggressive goals and misleading shareholders. Den Rest des Beitrags lesen »

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Income Investors: It’s OK to Be Sad, But Don’t Get Desperate

Posted by hkarner - 8. Oktober 2017

Date: 07-10-2017
Source: The Wall Street Journal By Jason Zweig

Old bull markets don’t produce new ideas. They just produce new ways for investors to hurt themselves with old ideas.

With stocks at record highs and the income on bonds not far from record lows, circumstantial evidence suggests investors are getting restless — if not desperate.

Chasing “yield,” or trying to get higher investment income, is one form of desperation. Last month, $1.6 billion in new money poured into exchange-traded funds holding high-yield corporate bonds, according to FactSet. Den Rest des Beitrags lesen »

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Taxation Tests European Unity

Posted by hkarner - 7. Oktober 2017

Date: 06-10-2017
Source: The Wall Street Journal

The EU is trying to level the playing field on tax issues, but risks alienating smaller member states

BRUSSELS—The European Union is selling its push to wrest tax revenue from multinational companies as a step toward leveling the corporate playing field across the continent.

But the move risks exacerbating tax disputes among member states, and undermining the bloc’s unity.

The EU in recent years has launched investigations to crack down on what officials say is corporate tax avoidance, abetted by sweetheart deals offered by some countries. The bloc has also proposed new tax legislation, with officials promising that large companies will pay their fair share. Den Rest des Beitrags lesen »

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U.K. Prime Minister Theresa May Grapples With Public Split in Party Over Her Leadership

Posted by hkarner - 7. Oktober 2017

Date: 06-10-2017
Source: The Wall Street Journal

Senior Conservative lawmaker says he has sounded out colleagues about unseating her

Britain’s Prime Minister Theresa May responds to claims that Conservative Party members wanted her to step down, saying she is providing “calm leadership” with the “full support” of her cabinet.

LONDON—Prime Minister Theresa May’s shaky hold on power was underlined Friday as a senior lawmaker said he has been sounding out colleagues about unseating her.

The unusual public statement, by Grant Shapps, a former co-chairman of her Conservative Party, came just days after Mrs. May’s keynote speech calling for unity at the party’s annual conference was overshadowed by a prankster’s interruption, a coughing fit and a malfunctioning stage set.

Senior colleagues rallied to Mrs. May’s defense, and analysts said she will probably hang on for now, given the risk that a leadership contest could disrupt talks on Britain’s exit from the European Union or culminate in an election that would give a resurgent Labour Party a shot at power. Den Rest des Beitrags lesen »

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The European Union’s Neoliberal Dilemma

Posted by hkarner - 6. Oktober 2017

Date: 05-10-2017
Source: The Wall Street Journal By Simon Nixon

The free flow of capital and people seemed to deliver only winners until the economic crisis revealed competition’s downside in many countries

Those who say the European Union is a neoliberal plot are, of course, largely right. Any single market that allows free movement of capital and people by its very nature pits country against country, region against region and town against town in a competition to attract investment and productive people. The rewards flow to those that offer the best business environment, high-quality infrastructure and the right mix of skills. Those that get it wrong face stagnation or decline.

Until the global financial crisis, the EU’s free movement of capital and people appeared to deliver only winners. Countries in Northern and Western Europe that had plenty of capital benefited from the flow of people to plug gaps in their growing job markets, boosting growth and living standards. And countries in Eastern Europe that had large pools of low-wage workers benefited from the free movement of capital as companies looked to outsource manufacturing. Meanwhile, those countries, primarily in Southern Europe, that weren’t particularly attractive to people or corporate capital were at least able to tap booming financial markets to finance lavish government spending. The result was rising and converging living standards across the EU. Den Rest des Beitrags lesen »

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Tesla Has a Forecasting Problem

Posted by hkarner - 5. Oktober 2017

Date: 04-10-2017
Source: The Wall Street Journal

Inability to predict near-term Model 3 production should give investors pause about Elon Musk’s vision

Tesla had predicted it would produce 1,500 Model 3 sedans in the third quarter.

The mass-market car of the future is taking its sweet time to arrive.

Tesla announced Monday that it delivered 220 Model 3 sedans in the third quarter and produced just 260. The company had predicted it would produce 1,500 in the quarter. Tesla attributed the shortfall to various “production bottlenecks.”

That news overshadowed an otherwise strong delivery report and shares fell only slightly Tuesday morning. Den Rest des Beitrags lesen »

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Goldman Sachs Explores a New World: Trading Bitcoin

Posted by hkarner - 4. Oktober 2017

Date: 03-10-2017
Source: The Wall Street Journal

Move would make it the first big Wall Street firm to deal directly in the growing yet controversial cryptocurrency market

Bitcoin is a digital currency that runs on a decentralized network of computers. Above, technicians inspect bitcoin mining machines in China.

Goldman Sachs Group Inc. is weighing a new trading operation dedicated to bitcoin and other digital currencies, the first blue-chip Wall Street firm preparing to deal directly in this burgeoning yet controversial market, according to people familiar with the matter.

Goldman’s effort is in its early stages and may not proceed, the people said. The firm’s interest, though, could boost bitcoin’s standing among investors and fuel the debate around digital currencies, which were initially viewed as havens for illicit activity but are pushing further into the mainstream investment world.

China in recent weeks has banned exchanges that trade bitcoin, fearing the virtual currency could provide an avenue for capital flight. J.P. Morgan Chase & Co. Chief Executive James Dimon, whose bank is the largest dealer in global currencies, last month called bitcoin a “fraud” and said he would fire any employee who traded it. Den Rest des Beitrags lesen »

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EU Lawmakers Chide U.K. Over Brexit Divisions

Posted by hkarner - 4. Oktober 2017

Date: 03-10-2017
Source: The Wall Street Journal

European Parliament votes for resolution saying too little progress has been made in talks to discuss future trade deal

European Brexit negotiator Michel Barnier, right, delivers a speech next to European Commission President Jean-Claude Juncker during a debate on the progress of Brexit talks at the European Parliament in Strasbourg, France.

BRUSSELS—European lawmakers voted overwhelmingly Tuesday for a resolution saying too little progress had been made in Brexit talks to allow discussions to begin on a future trade deal with the U.K.

Leading lawmakers also slammed continued divisions within the British government over Brexit. The vote is not binding on the European Union’s negotiating team.

The vote comes at an awkward moment for U.K. Prime Minister Theresa May who sought to unblock talks in a speech in Florence last month. After losing her parliamentary majority in June’s snap election, she is battling to regain political authority during this week’s annual meeting of her Conservative party. Den Rest des Beitrags lesen »

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Why the Shadow of the 2015 Migration Crisis Still Hangs Over Europe

Posted by hkarner - 3. Oktober 2017

Date: 02-10-2017
Source: The Wall Street Journal

French President Macron’s speech and success of anti-immigration party in German elections show security is priority for EU

France’s Emmanuel Macron proposed a far-reaching agenda to secure the EU’s external borders.

In the eyes of some, Emmanuel Macron flunked it.

When the French president last week delivered a marathon speech outlining his vision of the European Union, many economists hoped this would include a radical plan for deeper eurozone fiscal integration.

Indeed, the expectation was that this would form the core of his speech. Yet Mr. Macron didn’t say anything about pooling eurozone debts and had little to say on the creation of a common eurozone budget. Instead, the most eye-catching parts of his speech concerned security and defense, where he proposed a far-reaching agenda to secure the EU’s external borders, stabilize its neighborhood and establish a European Defence Force to be funded by a new tax on financial transactions.

But Mr. Macon’s choice of priorities shouldn’t have come as a surprise. It isn’t just that the chances of the EU reaching an agreement on fiscal integration look remote given opposition from several Northern European countries, not just Germany. Den Rest des Beitrags lesen »

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The Lessons of Leonardo: How to Be a Creative Genius

Posted by hkarner - 2. Oktober 2017

Date: 01-10-2017
Source: The Wall Street Journal By Walter Isaacson

History’s most creative genius, Leonardo da Vinci, was not superhuman, writes Walter Isaacson—and following his methods can bring great intellectual rewards to anyone

Around the time that he reached the unnerving milestone of turning 30, Leonardo da Vinci wrote a letter to the ruler of Milan listing the reasons why he should be given a job. In 10 carefully numbered paragraphs, he touted his engineering skills, including his ability to design bridges, waterways, cannons and armored vehicles. Only at the end, as an afterthought, did he add that he was also an artist. “Likewise in painting, I can do everything possible,” he wrote.

Yes, he could. He would go on to create the two most famous paintings in history, the “Mona Lisa” and “The Last Supper.” But in his own mind, he was just as much a man of science and engineering, pursuing studies of anatomy, flying machines, fossils, birds, optics, geology and weaponry. His ability to combine art and science—made iconic by “Vitruvian Man,” his drawing of a perfectly proportioned man (possibly a self-portrait) spread-eagled inside a circle and square—is why so many consider him history’s most creative genius.
Fortunately for us, Leonardo was also a very human genius. He was not the recipient of supernatural intellect in the manner of, for example, Newton or Einstein, whose minds had such unfathomable processing power that we can merely marvel at them. His genius came from being wildly imaginative, quirkily curious and willfully observant. It was a product of his own will and effort, which makes his example more inspiring for us mere mortals and also more possible to emulate.

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