The Times (November 19)
“Middle-earning families will be nearly £20,000 worse off over the next six years,” according to “research carried out for The Times,” analyzing the tax impact of Jeremy Hunt’s new budget “on people’s incomes, as wages go up with inflation but tax thresholds remain frozen.”
Tags: £20 thousand, Hunt, Impact, Incomes, Inflation, Middle-earning families, Research, Succession, Taxes, Wages, Worse
Australian Financial Review (July 17)
“Oil has begun to drop back down this week to pre-invasion levels as traders brace for a sharp drop-off in consumption. But food price inflation remains stubbornly high.” Nevertheless, food prices remain largely off the radar. “The dramatic spikes in oil and mineral prices after Russia’s invasion of Ukraine have distracted investors from the long-lasting and more dangerous impact of food inflation.” This has led BlackRock founder Larry Fink to sound the alarm on food inflation which also has profound geopolitical impacts.
Tags: BlackRock, Consumption, Dangerous, Distracted, Drop-off, Food, Impact, Inflation, Invasion, Investors, Larry Fink, Mineral, Oil, Pre-invasion, Russia, Spikes, Traders, Ukraine
Barron’s (June 27)
“Russia’s first default on its foreign debt in more than 100 years is the latest sign that the sanctions… have consequences,” but it’s a “symbolic win.” Energy prices remain the biggest impact of sanctions. “Oil prices aren’t coming down as long as Western powers are working to wean themselves off Russian supply. Faster inflation and rising interest rates, meanwhile, are bringing the global economy to its knees.”
Tags: 100 years, Consequences, Default, Energy prices, Foreign debt, Impact, Inflation, Interest rates, Oil prices, Russia, Sanctions, Supply, Symbolic win
BBC (June 1)
“It was supposed to last just nine days – a staggered lockdown to lessen the impact on Shanghai’s economy…. It lasted 65 days. It crippled the city and scarred its people. Restrictions are now being eased as quickly as they were imposed.” Like a “big bang,” most of the pervasive measures “are simply being lifted.”
Tags: 65 days, 9 days, Crippled, Eased, Economy, Impact, Imposed, Lockdown, People, Restrictions, Scarred, Shanghai, Staggered
Wall Street Journal (January 13)
“The U.K. appears to have passed the peak of the latest wave of Covid-19 caused by Omicron, a promising sign that the highly transmissible variant’s impact may be brief, if intense, and fueling optimism that the pandemic may be waning.”
Tags: Brief, COVID-19, Impact, Intense, Omicron, Optimism, Pandemic, Peak, Promising, Transmissible, U.K., Variant, Wave
Investment Week (December 21)
“The asset and wealth management industry is set to face a busy year of regulation, with the impact of recently passed legislation, including sustainability disclosure requirements and new listings rules, combining with that yet to come, such as long term asset funds. Past decisions will also bring change, as LIBOR also comes to an end this year, with very slim exception, while the spectre of Brexit is far from banished.”
Tags: Asset management, Brexit, Disclosure requirements, Funds, Impact, Legislation, LIBOR, Listings rules, Regulation, Sustainability, Wealth
BBC (October 27)
“The impact of Brexit on the UK economy will be worse in the long run compared to the coronavirus pandemic.” According to Richard Hughes, the chairman of the Office for Budget Responsibility, “leaving the EU will reduce the UK’s potential GDP by about 4% in the long term” while the impact of the pandemic is forecast as a 2% contraction of GDP.
Wall Street Journal (October 18)
“China’s economy grew 4.9% in the third quarter from a year earlier, slowing sharply from the previous quarter’s 7.9% growth rate, as power shortages and supply-chain problems added to the impact from Beijing’s efforts to rein in the real estate and technology sectors.” A slowdown was expected, but results fell short of “the 5.1% growth forecast” economists provided last week.
Tags: Beijing, China, Economy, Forecast, Growth, Impact, Power shortages, Problems, Real estate, Slowdown, Supply chain, Technology
Wall Street Journal (August 12)
“The rapidly-spreading coronavirus Delta variant and its impact on the global economy mean the world will consume less oil this year,” Lowering its forecast, the IEA’s latest market report notes that “the worsening of the pandemic, as well as revisions to historical data, mean its global oil demand outlook has been “appreciably downgraded,” with some of this year’s forecast recovery shifted to 2022.”
Tags: Coronavirus, Data, Delta variant, Demand, Downgraded, Forecast, Global economy, IEA, Impact, Oil, Outlook, Pandemic, Recovery, Worsening
Minneapolis Star Tribune (July 22)
The 1.5 year decline in U.S. life expectancy “is the largest seen in a single year since World War II” and “reflects the pandemic’s sustained toll on Americans, particularly the disproportionate impact of COVID-19 on communities of color,” where life expectancy fell nearly 3 years for blacks and Latinos.
Tags: Blacks, COVID-19, Decline, Disproportionate, Impact, Life expectancy, Pandemic, U.S., WWII
