American Banker (November 9)
“Lenders made it harder in the third quarter for both consumers and businesses to access credit,” and this trend looks likely to continue. “If the U.S. economy falls into a recession, more than 80% of banks said they would ‘somewhat’ or ‘substantially’ tighten lending standards for credit cards and loans backed by commercial real estate. More than 70% of banks said they would do the same for auto, commercial and industrial and residential real estate loans.”
Tags: Access, Auto, Banks, Businesses, Commercial, Consumers, Credit, Credit cards, Economy, Industrial, Lenders, Lending standards, Loans, Real estate, Recession, Tighten, U.S.
Washington Post (July 26)
“The U.S. economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling and economists warn of a potential recession ahead. But consumers keep spending, businesses keep posting profits and the economy keeps adding hundreds of thousands of jobs a month.”
Tags: Awkward, Businesses, Caught, Confusing, Consumers, Economists, Economy, Growth, Home sales, Painful, Profits, Recession, Spending, Sputtering, U.S.
Endgadget (June 16)
“Microsoft has been sounding the death knell for Internet Explorer for months, but many businesses in Japan seemingly did not take heed. Almost half were said to still be using the browser, for which Microsoft ended support yesterday.” The heel dragging “on switching to other browsers” could “cause chaos for months.”
Tags: Browser, Businesses, Chaos, Death knell, Heel dragging, Internet Explorer, Japan, Microsoft, Support
Reuters (May 27)
Covid-related restrictions “have battered the world’s second-biggest economy even as most countries have been seeking to return to something like normal.” Although “China’s economy is now staggering back to its feet,” the recovery remains “grinding and partial… with businesses from retailers to chipmakers warning of slow sales as consumers in the country slam the brakes on spending.”
Tags: Battered, Businesses, China, Chipmakers, Consumers, Covid, Economy, Grinding, Normal, Partial, Recovery, Restrictions, Retailers, Sales, Staggering, Warning
Wall Street Journal (May 24)
A “candid presentation” last week on “Why investors need not worry about climate risk” created an uproar, for which Stuart Kirk has been suspended as HSBC’s global head of responsible investing. At the WSJ, “we understand why banking regulators and businesses that hope to make money off the coming tidal wave of climate regulation might be offended by his truth-telling. But he merely said what many in his industry believe but are too timid to say: Climate change poses a negligible risk to the global economy and bank balance sheets.”
Tags: Banking regulators, Banks, Businesses, Candid, Climate change, Climate regulation, Climate risk, Global economy, HSBC, Investors, Kirk, Money, Negligible risk, Offended, Presentation, Responsible investing, Suspended, Tidal wave, Timid, Truth-telling, Uproar
Investment Week (April 13)
“2021 was a stand-out year for environmental finance, as COP26, a new US administration, and rapid growth in industry collaboration drove climate action and commitments across businesses and the asset management industry.” Morningstar found that “the number of mutual funds and exchange-traded funds (ETFs) with a climate-focused mandate grew to 860 at the end of last year… and assets in the space doubled to $408bn.”
Tags: 2021, Asset management, Assets, Businesses, Climate action, Collaboration, Commitments, COP26, Environmental finance, ETFs, Mandate, Morningstar, Mutual funds, Rapid growth, Stand-out, U.S.
Wall Street Journal (February 1)
“Despite record-high case numbers, the U.K. and other governments across Europe responded to Omicron with lighter restrictions than any previous wave of the virus, allowing businesses to remain open.” Moreover, individuals and businesses have “adapted to restrictions, minimizing the effects.” As a result, economic growth in Europe has slowed far less than during previous surges.
Tags: Businesses, Cases, Economic growth, Europe, High, Individuals, Omicron, Open, Record, Restrictions, Slowed, U.K., Virus
Wall Street Journal (December 23)
“Businesses, schools, hospitals and governments are preparing for a new year with a sense of déjà vu, as the spread of Covid-19’s Omicron variant brings a familiar challenge: how best to navigate another surge. This time, they’re hopeful they can stay open and operating.”
Tags: Businesses, Challenge, COVID-19, Déjà vu, Governments, Hospitals, Omicron, Schools, Spread, Surge, Variant
Wall Street Journal (September 26)
“The American supply chain has so far failed to adapt to the crush of imports as businesses rush to restock pandemic-depleted inventories.” At the ports of Los Angeles and Long Beach, two major shipping gateways, *more than 60 ships are lined up to dock, with waiting times stretching to three weeks.” The obvious fix, switching to 24/7 operations, remains problematic due to a shortage of trucks, storage and workers.
Tags: 24/7, Businesses, Depleted, Failed, Imports, Inventories, Long Beach, Los Angeles, Pandemic, Ports, Problematic, Restock, Rush, Shipping, Shortage, Storage, Supply chain, Trucks, Waiting
The Week (May 23)
In April, the Consumer Price Index (CPI) rose more sharply than it has in 13 years, “putting data behind the warnings that many economists and businesses have been issuing for weeks.” Inflation is dramatically here. “The question is how long it will stay.” The increase may stem from random coincidences (like a pipeline shut down and insufficient chip supply) or they could be transient symptoms of economic rebooting. But the upward swing might also prove harbinger of runaway inflation to come.
Tags: April, Businesses, Chip supply, CPI, Economists, Increase, Inflation, Pipeline, Random, Rebooting, Transient, Warnings
