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Investment Week (April 27)

2017/ 04/ 30 by jd in Global News

The Swiss fund house GAM “suffered a shareholder rebellion at its annual meeting, after it attempted to raise executive pay despite making a loss last year.” Only 17.57% of shareholders voted in favor of the report on pay with a majority rejecting it. “The shareholder rebellion came after CEO Alexander Friedman’s pay package increased by more than 20% in 2016, despite profits for the year falling by a third to £120.1m from £197.8m in 2015.”


LA Times (April 27)

2017/ 04/ 29 by jd in Global News

“Now Obama, the epitome of good taste when he was president, has signaled that he too is ready to begin cashing in.” Accepting $400,000 for a speech “may not be corrupt or a threat to honest government, but it strikes us as tacky…. Our revulsion isn’t moral; it’s aesthetic.”


Reuters (April 27)

2017/ 04/ 28 by jd in Global News

For “the first time since March 2008 the BOJ used the word ‘expansion’ to describe the state of the economy, signaling its conviction that the recovery was gaining momentum.” Still, some “analysts doubt inflation will accelerate as quickly as the BOJ projects, with slow wage growth keeping households from boosting spending.”


Institutional Investor (April 26)

2017/ 04/ 27 by jd in Global News

The Saudi Stock Exchange, known as the Tadawul, has “sped up its transaction cycle and introduced new trade options in a bid at international capital.” It has adopted the T+2 settlements now common in Europe. (The U.S. still takes three days to settle transactions, but is scheduled to adopt T+2 this September). Tadawul also “introduced securities borrowing and lending as well as covered short selling.” Currently ranked #23, the Tadawul hopes moves like these and the launch of a REIT market will help it attract more investment.


Wall Street Journal (April 25)

2017/ 04/ 26 by jd in Global News

Will protectionism be as welcome once the costs are realized? The Journal reports “Commerce Secretary Wilbur Ross announced Monday that the Trump Administration will raise the cost of new single family homes in the U.S. as part of its promise to ‘make America great again.’” The Journal adds, “Mr. Ross didn’t put it quite that way.” Ultimately, however, the 20% tariff on lumber from Canada Mr. Ross did announce “will add an additional $1 billion in new costs for U.S. construction.”


Chicago Tribune (April 24)

2017/ 04/ 25 by jd in Global News

President Trump is now talking about “a ‘massive tax cut’ for businesses and individuals.” He even said it would likely be “bigger” than “any tax cut ever.” Simplistic boasts may be exciting, but they are dangerous. “Here’s the thing: Trump, who used the word ‘massive’ 12 times in that AP interview, forgot to mention a huuuuge caveat about tax reform efforts: They are devilishly difficult to pull off. Cutting taxes without adding trillions to the federal debt is especially hard to do.”


Business Insider (April 23)

2017/ 04/ 24 by jd in Global News

“President Donald Trump set another record low approval rating as he concludes his first 100 days in office.”  A Washington Post/ABC poll “showed the new president with the lowest approval rating at this point of any president since the polling began in 1945,” with 53% disapproving of his performance and only  a 42% approval rating.


The Economist (April 22)

2017/ 04/ 23 by jd in Global News

In the UK, everything “changes with the news of an election” this June. “With a proper mandate and some clout in Parliament, the prime minister would have the chance to shake off the ‘Theresa Maybe’ nickname that we gave her earlier this year.” Meanwhile, “businesses, lobby groups and, of course, private citizens have a chance to make the case for a soft Brexit both during the campaign and after it…. The battle over Brexit was fought last summer. The battle to define what form it should take is far from over.”


The Week (April 19)

2017/ 04/ 22 by jd in Global News

“President Trump thinks he has worked out a magnificent ‘deal’ with China.” In reality, “Trump is being played like a fiddle by Chinese President Xi Jinping.” China will be unable to place much additional pressure on North Korea. In return for nothing, “Trump has decided to drop one of the few good ideas of his campaign: renegotiating our trade deal with China so it’s better for the U.S.”


Financial Times (April 19)

2017/ 04/ 21 by jd in Global News

“After 15 years of Mr Erdogan’s tightening grip, first as prime minister and now as president, almost half the population said a resounding No to one-man rule.” Still, they did not prevail. “What Turks now face is not a French or US-style presidency but something like Vladimir Putin’s Kremlin rule — and half the country knows this well.”


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