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August 2022
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CNN (August 12)

2022/ 08/ 14 by jd in Global News

“Hong Kong has recorded its sharpest annual drop in population,” falling from “7.41 million people to 7.29 million, a 1.6% decrease.” Experts attribute the exodus to “strict Covid control measures and a political crackdown that have taken the shine off a financial hub long advertised as ‘Asia’s world city.’”


Traders Magazine (August 10)

2022/ 08/ 13 by jd in Global News

The U.S. Congress is “swamped with crypto legislation” with over 150 legislative items under consideration. To be coherent, these would require a great deal of alignment. Moody’s Investors Service has stated that “a clear regulatory and supervisory framework with the potential to prevent fraudulent activity and provide clear guidance to allow companies to innovate would be credit positive.” But, Moody’s also believes it “will be important to achieve international consistency in regulatory and supervisory approaches, such as in the legal validity of smart contracts.”


Sydney Morning Herald (August 10)

2022/ 08/ 12 by jd in Global News

“There are 68 trusts in China with about $4.3 trillion of assets – property loans, shares, bonds and commodities – under management, with property accounting for at least $500 billion of the total.” The National Audit Office has been instructed “to inspect the books of the country’s biggest trust firms.” This shows “the increasing concern of the Chinese authorities that the implosion of their property development sector could ignite a wider financial crisis.”


Reuters (August 10)

2022/ 08/ 11 by jd in Global News

“What a difference a year makes: Consumers have gotten off the couch…. There is evidence that the streaming market has hit a saturation point. Netflix lost 1.3 million American and Canadian customers in the second quarter, where it enjoys the highest average revenue per user.” (August 9)

2022/ 08/ 10 by jd in Global News

“Inflation expectations among consumers in the U.S. have plunged, falling at the fastest rate ever in the history of the New York Federal Reserve’s monthly Survey of Consumer Expectations.” The July survey revealed “consumers expect inflation to rise 6.2% over the next year and 3.2% over the next three years,” down considerably from 6.8% and 3.6% in June’s survey.


Bloomberg (August 7)

2022/ 08/ 09 by jd in Global News

“Sky-high US inflation may finally be approaching a peak as global economic growth sputters and oil and other commodity prices plunge. Now the focus is shifting to how fast and far it will retreat.” The tight job market “is probably the biggest reason why inflation may prove more entrenched than the optimists expect.”


South China Morning Post (August 6)

2022/ 08/ 08 by jd in Global News

Hong Kong’s “tough Covid-19 measures have lasted too long. They have sucked much of the joy out of everyday life and left the city isolated.” Politics have also lessened Hong Kong’s appeal. “The protests, the national security law, mass arrests and relentless rhetoric have all had an impact.” So many of the best and most “cherished memories of the city…. belong to an era that has ended.”


Wall Street Journal (August 5)

2022/ 08/ 07 by jd in Global News

“China’s firing of missiles near Japan has left little doubt that Tokyo would be pulled into any potential war over Taiwan—and would be part of the U.S.-led alliance likely to defend the island.”


Institutional Investor (August 4)

2022/ 08/ 06 by jd in Global News

“Rampant inflation means the total return that private and community foundations need to break even and pay their beneficiaries is about as high as it’s ever been.” As they face “some of the most challenging mandates they’ve ever encountered,” foundations “will have to make tough decisions about risk and spending to survive.”


U.S. News (August 3)

2022/ 08/ 05 by jd in Global News

“A surge in consumer demand and pandemic-related logjams holding up containers in key ports had boosted freight rates and profits in the shipping industry in recent quarters, yet the cost of living crisis has reversed that trend.” Shipping giant Maersk, which controls 17% of the container shipping market “expects global container demand to fall this year as sales of durable goods come to a ‘standstill.’” Inflation, “dented consumer demand” and the weaker economy “could lead to a normalization of the global shipping market towards the end of the year.”


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