Newsweek (February 8)
“A hard “Brexit could threaten 30,000 jobs in London’s world-class finance sector,” according to a recent report, if the firms “lose their ‘passport’ to operate across the EU.” Of course, nobody will really know until Brexit transpires, but the same study suggests “17 percent of all U.K. banking assets might be on the move as a result of Brexit” and the U.K.’s share of the European financial services market could contract from the current 90% to around 60%.
Bloomberg (February 6)
“Just a few weeks ago, Wall Street analysts were busy boosting their economic forecasts on the expectation that President Trump would implement sweeping corporate-tax reform, a rollback of regulations, and new fiscal stimulus.” After seeing the first two weeks of the Trump Presidency, the analysts are having second thoughts. Their forecasts are now poised for “a rethink, if not an outright reversal.”
Tags: Analysts, Expectation, Forecasts, Regulations, Rethink, Reversal, Second thoughts, Stimulus, Tax reform, Trump, Wall Street
Institutional Investor (February 6)
Legendary bond investor Bill Gross believes the “$12 trillion now held by central banks is a permanent fixture of global finance, acting a bit like methadone. Methadone manages the craving, but does little to end the patient’s addiction.” He also posits that the U.S. would be in recession if it were not for the easing measures of the European Central Bank and the Bank of Japan.
U.S. News & World Report (February 6)
“A report published last year stated that more than 37 percent of workers in Silicon Valley are foreign-born.” Not surprisingly, given that, “a group of nearly 100 tech companies have filed an amicus brief to a federal appeals court voicing concerns over President Donald Trump’s stalled immigration-focused executive order.” Among them were “Google, Apple, GoPro, Facebook, Dropbox, eBay, LinkedIn, Microsoft, Netflix and Twitter.”
Tags: Amicus brief, Apple, Dropbox, EBay, Facebook, Foreigners, Google, GoPro, Immigration, LinkedIn, Microsoft, Netflix, Silicon Valley, Tech companies, Trump, Twitter, U.S.
New York Times (February 3)
“It didn’t take long for tensions to flare between Iran and President Trump, and both sides have to share the blame.”
The Week (February 2)
“President Donald Trump’s immigration ideas may have already cost America trillions of dollars—with perhaps even more economic damage on the way…. This should all be alarming for an economy that has benefited so much from attracting the world’s best and brightest.”
Tags: Alarming, Best, Brightest, Economic damage, Economy, Immigration, Trump, U.S.
The Economist (January 2)
“India is taking the idea of a universal basic income seriously.” Few expect the current proposal, which “would cut absolute poverty from 22% to less than 0.5%” with a proposed annual income of slightly over $110 income, to be adopted soon, but “the idea will not go away. It may seem folly in a country home to over a quarter of the world’s truly poor to give people money for nothing. But it would be a swift, efficient way to make it home to far fewer of them.”
Reuters (February 2)
“The world’s longest ruling monarch faces what could be one of the most awkward state visits of all time–that of Donald Trump.” He might want to watch out. “Queen Elizabeth always behaves impeccably. When it comes to giving a harsh message, however, she has been known to deliver a hefty punch.”
Tags: Awkward, Donald Trump, Harsh, Impeccably, Message, Punch, Queen Elizabeth, State visit
Wall Street Journal (January 31)
“Political disruption has its uses but not if it consumes your Presidency in the process.” Donald Trump “seems determined to conduct a shock and awe campaign to fulfill his campaign promises as quickly as possible, while dealing with the consequences later.” Unfortunately, governing effectively “is more complicated than a campaign rally” and the “bonfire over his executive order on refugees shows that government by deliberate disruption can blow up in damaging ways.”
Tags: Awe, Blow up, Consequences, Damaging, Disruption, Executive order, Governing, Government, Presidency, Promises, Rally, Refugees, Shock, Trump
