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Bloomberg (October 1)

2018/ 10/ 02 by jd in Global News

“Stocks of the so-called sogo shosha, the groups that drove Japan’s postwar export success—the likes of Itochu Corp., Marubeni Corp. and Mitsubishi Corp.—have rallied as much as 36 percent over the last year, outpacing the race to a three-decade high by the broad Topix Index. The trading companies’ free cash-flow levels are above those reached in their heyday, and their leverage much lower.”

 

South China Morning Post (August 3)

2018/ 08/ 05 by jd in Global News

“China has just ceded its four-year title as the world’s second-largest stock market to Japan, as an intensifying trade spat with the US and its campaign to reduce leverage weighed on equities.”

 

 

Washington Post (December 7)

2017/ 12/ 09 by jd in Global News

Moving the embassy to Jerusalem could have been used “as a leverage for peace.” Instead, Donald Trump “used it to smash crockery in the region,” which “pretty well summarizes the Trump Doctrine.” Any so called successes “have been things Trump has undone (the Paris climate accord, the Trans-Pacific Partnership) or is in the process of undoing (the Iran nuclear deal, NAFTA). Relations have soured with Britain, continental Europe and countries from Mexico to Australia.” Meanwhile, Russia is gaining power and “the terrorist threat is decentralizing rather than dissipating.”

 

Financial Times (October 3)

2016/ 10/ 04 by jd in Global News

“By announcing that she will start the formal negotiations for Britain to leave the EU by March 2017, the prime minister has walked into a trap. She has given away what little leverage Britain has in the negotiations — without receiving any of the assurances that she needs to achieve a successful outcome.” This will allow the EU to “simply run the clock down — knowing that the UK will be in an increasingly difficult situation.”

 

Washington Post (July 18)

2014/ 07/ 19 by jd in Global News

“Energy politics underlie the explosive Ukraine crisis, as Europeans weigh U.S. calls for tougher sanctions against the ability of Russia to disrupt gas supplies this winter.” Despite the roll out of stronger penalties by Washington, the Europeans were dragging their feet, “a sign that many of its governments fear Moscow’s energy leverage more than U.S. displeasure.” With the downing of the Malaysian Airlines flight, Europe may finally be forced to react and Europeans “may be facing a cold winter.”

 

Washington Post (March 25)

2014/ 03/ 26 by jd in Global News

Supplying Europe with nearly a third of its natural gas, Russia seems to give incredible leverage. This is misleading. In 2013, “natural gas represented only 22 percent of Europe’s total energy consumption.” Moreover, Europe currently has significant stores, substitute sources and substitute fuels. “The message here is simpler: The dangers of a cutoff should not intimidate the West. They’re overrated.”

 

Investment Week (January 22, 2014)

2014/ 01/ 23 by jd in Global News

“Investors are better off looking away from the US for their developed market equity exposure,” according to Cazenove Capital multi-manager Marcus Brookes who argues that U.S. stocks have gotten pricey and, contrary to popular belief, many U.S. companies have increased their leverage. “In the face of the cheap markets of Europe and Japan, I would much rather put my clients’ capital there because if it does go wrong it is a cheaper market.”

 

Financial Times (December 28)

2010/ 12/ 29 by jd in Global News

Investment banks must shrink, “both in terms of leverage and the risks they take, if they are to regain their legitimacy.” Investment bankers are ready to forget the last crisis and push on with maximizing profits. Taxpayers and regulators, on the other hand, do not want to take chances. The banks must not only reduce their leverage and risk, they must demonstrate that “they do a useful job” which benefits society.

Investment banks must shrink, “both in terms of leverage and the risks they take, if they are to regain their legitimacy.” Investment bankers are ready to forget the last crisis and push on with maximizing profits. Taxpayers and regulators, on the other hand, do not want to take chances. The banks must not only reduce their leverage and risk, they must demonstrate that “they do a useful job” which benefits society.

 

[archive]