Institutional Investor (March 20)
“For years, asset management firms have benefited as the banking industry was dragged down by quantitative easing and increasing regulation. The one-two punch spurred a more than $100 billion divergence in revenues since 2011, with asset managers up $65 billion and wholesale banks down $45 billion at the end of 2016…. But now, with asset managers facing ‘intense’ pressure on fees and with economic policy shifting in favor of banks,” there are growing predictions for “a ‘reversal of fortunes’ for the two sectors.”
Tags: Asset management, Banking, Economic policy, Fees, QE, Regulation, Revenues, Reversal
Financial Times (May 26)
Global cities now “drive the world’s economy. The 600 biggest cities account for more than 60 per cent of global gross domestic product. The top 20 are home to one-third of all large corporations, and almost half of their combined revenues. Tokyo leads the pack — in population size, economic punch and number of corporate headquarters — ahead of New York, London and Paris.”
Tags: Cities, Corporations, Economics, Economy, GDP, London, New York, Paris, Population, Revenues, Tokyo
Washington Post (September 25)
“If the federal government shuts down Oct. 1, a depressingly plausible prospect, D.C. residents will feel the impact more than most Americans because the city is barred from spending its revenues absent a federal appropriation. Even though D.C.’s budget is largely comprised of locally raised taxes, in a shutdown only essential services can continue. That translates into fewer garbage pickups, no street cleaning and shuttered libraries and recreation centers.”
Tags: Essential services, Garbage, Government, Libraries, Recreation, Revenues, Shutdown, Streets, Taxes, U.S., Washington D.C.
