Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘WSJ’

Global Inflation Hits Lowest Level Since 2009

Posted by hkarner - 4. August 2017

Date: 03-08-2017
Source: The Wall Street Journal

Data complicates plan to remove post-crisis stimulus policies

ECB President Mario Draghi  said the central bank would decide in the fall on the future of its bond-buying program.

Inflation in the Group of 20 largest economies, which account for most of the world’s economic activity, fell to its lowest level in almost eight years during June, deepening a puzzle that confronts central banks as they contemplate the removal of post-crisis stimulus policies.

The Organization for Economic Cooperation and Development Thursday said consumer prices across the G-20 were 2% higher than a year earlier. The last time inflation was lower was in October 2009, when it stood at 1.7% as the global economy was starting to emerge from the sharp downturn that followed the global financial crisis.

The contrast between then and now highlights the mystery facing central bankers in developed economies as they attempt to raise inflation to their targets, which they have persistently undershot over recent years. Den Rest des Beitrags lesen »

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Brexit Could Lead to the Loss of 17,000 U.K. Investment Banking Jobs, Study Shows

Posted by hkarner - 3. August 2017

Date: 01-08-2017
Source: The Wall Street Journal

Such a departure won’t mortally wound the country’s reputation as a financial hub but could reduce efficiencies

The Canary Wharf financial, business and shopping district in London, U.K., on Monday. Up to 17,000 investment banking jobs could leave the U.K. soon after Brexit, according to estimates by consulting firm Oliver Wyman.

LONDON—Up to 17,000 investment banking jobs could leave the U.K. soon after Brexit, according to the latest estimates by consulting firm Oliver Wyman.

With the U.K. government negotiating an exit from the European Union, there is a chance that banks will lose their rights to sell products to EU clients. To offset this, banks are putting into place contingency plans to build out their operations in the trade bloc. Based on those initial plans, Oliver Wyman says 15,000 to 17,000 wholesale banking jobs are set to be relocated into the EU. Over the longer term, that number could rise to 40,000, the firm says.

There are around 560,000 people employed in banking in the U.K, so such a departure is unlikely to mortally wound the country’s reputation as a financial hub. But it could reduce the efficiencies of having Europe’s investment banking services located in one place, the firm added. Den Rest des Beitrags lesen »

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Alphabet Sees Power in Molten Salt, a New Moonshot

Posted by hkarner - 2. August 2017

Date: 01-08-2017
Source: The Wall Street Journal

Google parent developed plans to store electricity from solar panels or wind turbines as thermal energy in hot salt and cold liquids, such as antifreeze

X engineers work on designs for an energy system that stores electricity as thermal energy in high-temperature molten salt and a low-temperature liquid. X is a “moonshot” research and development lab under Google’s parent, Alphabet.

Google parent Alphabet Inc. is pitching an idea to store power from renewable energy in tanks of molten salt and cold liquid, an example of the tech giant trying to marry its far-reaching ambitions with business demand.

Alphabet’s research lab, dubbed X, said Monday that it has developed plans to store electricity generated from solar panels or wind turbines as thermal energy in hot salt and cold liquids, such as antifreeze. The lab is seeking partners in the energy industry, including power-plant developers and utilities, to build a prototype to plug into the electrical grid. Den Rest des Beitrags lesen »

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OPEC Has a Crippling Problem: Its Members Can’t Stop Pumping

Posted by hkarner - 1. August 2017

Date: 31-07-2017
Source: The Wall Street Journal

Eight months after a landmark deal to cut oil output to force prices up, big budget obligations drive members to keep producing

OPEC, the once powerful oil cartel, is struggling to hold the line in a make-or-break fight to limit oil production, prop up crippling low prices and prove its relevance.

Why? Its members are addicted to oil.

Eight months after the Organization of the Petroleum Exporting Countries announced a plan for its 14 members and 10 allied countries to withhold almost 2% of the world’s oil every day to boost prices, seven of the 11 OPEC members that pledged to cut appear to be producing more oil than promised. Den Rest des Beitrags lesen »

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Posted by hkarner - 1. August 2017

Date: 31-07-2017
Source: The Wall Street Journal
Subject: Brexit Cited As Fewer EU Citizens Seek Work in U.K.

Some industries concerned that labor shortages could crimp expansion plans and slow economy

About 40% of the 150 employees at Colpac, a food-packaging business in Flitwick, Bedfordshire, are from other EU countries.

FLITWICK, England— Neil Goldman, who employs workers from across the European Union’s in his food-packaging business, blames the U.K.’s Brexit vote last year for making vacancies harder to fill.

Britain has for years been a magnet for European job seekers drawn by decent wages, the English language, and plentiful openings in the country’s easy-to-hire economy. That attraction now appears to be waning as a consequence of its vote to leave the EU, as well as accelerating growth in the eurozone.

In industries as diverse as agriculture, health care and manufacturing, executives are growing anxious about labor shortages that they fret could crimp expansion plans and restrain the British economy. Already, growth in the U.K. is sputtering as quickening inflation squeezes consumer spending. Den Rest des Beitrags lesen »

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Amazon’s Jeff Bezos Becomes World’s Richest Person

Posted by hkarner - 28. Juli 2017

Date: 27-07-2017
Source: The Wall Street Journal

Net worth tops $90.6 billion as stock rises ahead of company earnings report

Amazon President Jeff Bezos reached a net worth of over $90.6 billion as the stock market opened Thursday.

Amazon.com Inc . founder and Chief Executive Jeff Bezos became the richest person in the world as the online retailer’s stock rose ahead of quarterly results, according to a list that tracks wealth.

Mr. Bezos, 53, reached a net worth of over $90.6 billion as the stock market opened Thursday, according to Forbes, which has tracked a list of wealthiest people since 1987. That allowed him to steal the title from Microsoft Corp. founder Bill Gates by $500 million. Stock prices increased from there, adding to his lead.

Analysts expect Amazon to report another quarter of strong sales after the market closes, as the company continues to prove its dominance in everything from retail to cloud services.

Shares were recently trading at $1,070.76, up 42% since the beginning of the year.

According to the company’s proxy filing in April, Mr. Bezos’ stake in the company was 16.9%. Soon after, he sold around $1 billion in shares. Den Rest des Beitrags lesen »

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Talk Is Cheap: Automation Takes Aim at Financial Advisers—and Their Fees

Posted by hkarner - 28. Juli 2017

Date: 27-07-2017
Source: The Wall Street Journal

Services that use algorithms to generate investment advice, deliver it online and charge low fees are pressuring the traditional advisory business

Automation is threatening one of the most personal businesses in personal finance: advice.

Over the past decade, financial advisers in brokerage houses and independent firms have amassed trillions in assets helping individuals shape investment portfolios and hammer out financial plans. They earn around 1% of these assets in annual fees, a cost advisers say is deserved because they understand clients’ particular situations and can provide assurance when markets fall.

In the latest test of the reach of technology, a new breed of competitors— including Betterment LLC and Wealthfront Inc. but also initiatives from established firms such as Vanguard—is contending even the most personal financial advice can be delivered online, over the phone or by videoconferencing, with fees as low as zero. The goal is to provide good-enough quality at a much lower price. Den Rest des Beitrags lesen »

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Greece Gets Solid Demand for First Bond Issuance in Three Years

Posted by hkarner - 27. Juli 2017

Date: 26-07-2017
Source: The Wall Street Journal

Government sees as first move to wean country from new bailouts

Greece got solid demand Tuesday for its first bond issuance in three years, in what the government sees as the first of several moves that will enable the debt-ridden country to wean itself from new bailouts.

Tuesday’s deal included an invitation for holders of a bond coming due in 2019 to swap their securities for new ones due in 2022.

Greece sold €3 billion worth of the 2022 bond, Greek government officials and bankers said. About half of that is new money, and half is existing investors in the 2019 bond who switched, according to one of the banks managing the deal.

The new bond matures in August 2022 and will yield 4.625%. The 2019 bond is yielding around 3.2%, so investors will be paid a decent premium for participating in the swap. Den Rest des Beitrags lesen »

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Good News: China Is Making Less Useless Stuff

Posted by hkarner - 26. Juli 2017

Date: 25-07-2017
Source: The Wall Street Journal

China’s fight against overcapacity is finally showing some results

One of Western politicians’ biggest complaints against China is that it invests and produces too much, consumes too little, and expects the rest of the world to absorb the remainder. But in the worst-offending sectors, including global trade flashpoints like steel, aluminum and petrochemicals, the picture is brightening at last. That could help put a floor under commodity prices, even if Chinese overcapacity is far from cured.

The recent improvement partly stems from an uptick in construction at home taking in more steel and cement. But there is also evidence that China’s endless campaigns against dirty steel and aluminum plants have been working, slowing the country’s reckless overinvestment. Den Rest des Beitrags lesen »

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Car Industry’s Diesel Woes Just Won’t Die

Posted by hkarner - 25. Juli 2017

Date: 24-07-2017
Source: The Wall Street Journal

Allegations of collusion on emissions technology give investors another reason to avoid the automotive sector

This was supposed to be the year Volkswagen drew a line under its diesel-emissions scandal. Instead the scandal seems to be spreading to the other German car giants.

The latest allegation is that Volkswagen, Porsche and Audi  —all owned by the Volkswagen Group—together with Mercedes-maker Daimler and BMW have engaged in collusive practices since the 1990s, including on emissions-reducing technology linked to the VW fraud revealed by the U.S. Environmental Protection Agency in 2015. The European Union’s top antitrust regulator has confirmed that it is investigating the industry following a tipoff from VW last year. More than €11 billion ($12.8 billion) has been wiped off the combined market value of the three listed groups since the weekly magazine Der Spiegel published details of what it labeled “the cartel” on Friday. Den Rest des Beitrags lesen »

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