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Wall Street Journal (July 30)

2014/ 07/ 31 by jd in Global News

“The U.S. and European Union on Tuesday finally made good on their threats of robust sanctions on Russia. The question now is whether this new approach isn’t too late to save Ukraine.”

 

Bloomberg (July 29)

2014/ 07/ 30 by jd in Global News

We need to treat climate change like fire. “You insure your house against fire not because you are certain it will burn down but to guard against the risk that it might. Yes, climate change involves various costs known with reasonable confidence—but it also creates big risks. It’s only rational to insure against them.

 

7/30 Issue

2014/ 07/ 30 by jd in IRCWeekly

Attention remained focused on the crisis in Ukraine this week. The Los Angeles Times suggested that the downing of Malaysia Airlines Flight 17 might spur international action. Before, calls to escalate sanctions against Russia were impeded by “Europeans’ desire to protect their business with Moscow,” but now, “Putin has a problem he didn’t have a week ago: Europe’s politicians and public are watching.”

The Financial Times writes, however, that new efforts by the EU to increase pressure on Russia have “swiftly opened up divisions among the bloc’s 28 member states.” For the EU to give a coherent response to Russia’s actions will require “a willingness to compromise and some clear thinking.” But in the meantime, the Wall Street Journal writes, “Vladimir Putin’s war on Ukraine continues as usual…. He won’t change until he concludes that the cost of his aggression is too high to sustain. So far the costs have been minuscule, and Mr. Putin is reacting with predictable contempt.”

One might question, however, just how sensitive to such costs Mr. Putin is. The Economist reports that “the cost to Russian investors of Vladimir Putin’s rule” may be as high as one trillion dollars. This calculation stems not directly from sanctions, but “from the fact that investors regard Russian assets with suspicion.”

Economic woes, of course, are not limited to Russia. The New York Times writes that, as part of efforts to increase to women’s workforce participation, “which Japan needs to spur economic growth,” Prime Minister Shinzo Abe has called on businesses to put more women in management positions. But this solution may not fit the problem: “only one in 10 working women say they want to be promoted to management.”

In the U.S. economy, on the other hand, “positive inflation momentum is apparent from both the top down and the bottom up,” writes Institutional Investor. Improving employment may lead to wage growth, while unique events that have depressed inflation, such as the sequester and the strength of the dollar, are unlikely to be issues going forward.

Finally, Euromoney named UBS “Bank of the Year.” “Less than three years ago, UBS was written off as one of the ultimate victims of the financial crisis. The bold decisions taken then by a new chief executive and his management team make it today a bank that others seek to emulate.”

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To see the overseas media’s takes on these and other developments, you can browse the Global News highlights in app or at http://www.irken.jp/gn/. Links to the original sources are provided above, but please note these are frequently updated. Links that were valid at publication may later be broken.

 

Euromoney (July Issue)

2014/ 07/ 29 by jd in Global News

UBS was named “Bank of the Year” by Euromoney. “Less than three years ago, UBS was written off as one of the ultimate victims of the financial crisis. The bold decisions taken then by a new chief executive and his management team make it today a bank that others seek to emulate.”

 

New York Times (July 29)

2014/ 07/ 28 by jd in Global News

“Japanese women are not staying away from work because they can’t get ahead; only one in 10 working women say they want to be promoted to management because it would be hard to juggle housework with the long working hours associated with management.” This makes Prime Minister Abe’s task more challenging. First, he needs to convince women “that work, in and of itself, is a good thing.”

 

The Economist (July 26)

2014/ 07/ 27 by jd in Global News

“ONE trillion dollars. That may be the cost to Russian investors of Vladimir Putin’s rule…. The calculation stems from the fact that investors regard Russian assets with suspicion. As a result, Russian stocks trade on a huge discount to much of the rest of the world, with an average price-earnings ratio (p/e) of just 5.2. At present, the Russian market has a total value of $735 billion. If it traded on the same p/e as the average emerging market (12.5), it would be worth around $1.77 trillion.”

 

Financial Times (July 24)

2014/ 07/ 26 by jd in Global News

“With pressure mounting to act swiftly, commercial interests and jobs at stake and national pride in play, there is a danger that the EU’s effort to respond coherently to Russian actions will get bogged down in acrimony. Avoiding that fate requires a willingness to compromise and some clear thinking.”

 

Institutional Investor (July 23)

2014/ 07/ 25 by jd in Global News

However you look at it, “positive inflation momentum is apparent” in the U.S. From the top down, unemployment has fallen. As slack lessens, “we may begin to see signs of this tightening appear in the form of wage growth.” And from the bottom up, there were “multiple factors that pushed inflation lower over the past 12 to 18 months: predominantly, disinflation from medical and core goods components.” But these were driven by unique events like the sequester and the strength of the U.S. dollar. “Neither the medical nor the core goods component is likely to be a drag on inflation going forward.”

 

Wall Street Journal (July 23)

2014/ 07/ 24 by jd in Global News

“Vladimir Putin’s war on Ukraine continues as usual.” Except for instilling outlandish hopes, the shoot-down of Malaysia Airlines Flight 17 changed nothing. “The world’s media hang on any hint of conciliation from President Putin, as if he will suddenly turn into Vlad the Peacemaker. He won’t change until he concludes that the cost of his aggression is too high to sustain. So far the costs have been minuscule, and Mr. Putin is reacting with predictable contempt.”

 

Los Angeles Times (July 22)

2014/ 07/ 23 by jd in Global News

“It’s neither pleasant nor polite to say it, but the crash of Malaysia Airlines Flight 17 may have been the best thing to happen to President Obama’s policy on Ukraine in weeks.” The U.S. had taken the lead, but the crisis had been fading from the radar as Europe’s politicians tried to avoid sacrificing business interests with Russia. Now, however, “Putin has a problem he didn’t have a week ago: Europe’s politicians and public are watching.”

 

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