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Financial Times (February 1)

2024/ 02/ 02 by jd in Global News

“Mounting losses from banks in the US, Asia and Europe have rekindled concerns about weakness in the US commercial property market, a sector that has been under pressure from lower occupancy levels and higher interest rates.” This week New York Community Bancorp, Aozora Bank and Deutsche Bank each warned of related risks or recognized losses, which “mark the latest fallout from the… dual problems of fewer people working in offices since the pandemic and more expensive borrowing costs.”

 

Financial Times (January 25)

2024/ 01/ 27 by jd in Global News

The German economy is “faltering.” Despite promises of reform and rebound, “Europe’s largest economy is starting to look more like a slow-moving car crash…. In 2023 it contracted by 0.3 per cent, making it the world’s worst-performing major economy. This has been accompanied by policy setbacks, nationwide strikes, and a steep decline in the ruling coalition’s popularity.”

 

Institutional Investor (January 22)

2024/ 01/ 23 by jd in Global News

“Bloomberg terminal users got a research boost on Monday just in time for earnings season: summaries and analysis of company performance written by artificial intelligence.” From Monday, all users will be able to access generative AI summaries “designed to help analysts save time absorbing earnings data and transcripts by highlighting key points. They will be available immediately for companies in the Russell 1000 and the top 1000 companies in Europe.”

 

Associated Press (January 10)

2024/ 01/ 11 by jd in Global News

“Earth last year shattered global annual heat records, flirted with the world’s agreed-upon warming threshold and showed more signs of a feverish planet…. The European climate agency Copernicus said the year was 1.48 degrees Celsius (2.66 degrees Fahrenheit) above pre-industrial times.”

 

Reuters (December 23)

2023/ 12/ 24 by jd in Global News

In 2024, “the global trade war will shift from fossil fuels to metals and raw materials. Russia’s invasion of Ukraine highlighted the risk of relying on autocratic states for energy. Even if Europe’s gas crisis eases, Western manufacturers’ focus will switch to reducing China’s dominance in materials key to a cleaner economy.”

 

Reuters (December 13)

2023/ 12/ 14 by jd in Global News

“Conflict in the Middle East added geopolitical uncertainty to a luxury industry outlook already clouded by inflation, with shoppers in the U.S. and Europe tightening their purse strings while expectations for a strong post-pandemic rebound in China were derailed by a property crisis” On top of all that, Bergdorf Goodman and other high end retailers are already discounting adding to “concern that a lackluster Christmas could lead to inventory gluts – potentially dragging labels into a discounting spiral that would cheapen their image.”

 

Institutional Investor (December 1)

2023/ 12/ 03 by jd in Global News

“Competition to manage middle eastern sovereign wealth has become fierce.” Five of the top ten sovereign wealth funds (by assets under management} “are based in the Middle East” with “roughly $2.92 trillion in assets.” Given “bleak fundraising prospects in the U.S. and Europe, managers are tripping over themselves to reach sovereign wealth funds” in the Middle East.

 

Barron’s (November 12)

2023/ 11/ 13 by jd in Global News

“Germany’s economy, historically the powerhouse of Europe, is going through a rough patch. Its reliance on Russian energy and trade with China will have to be scaled back and new sources of growth found.” The nation’s GDP “declined in the third quarter, bringing down the rest of the euro zone with it,” and the OECD now “expects Germany to be the second worst performer in its group of 30 advanced economies this year, ahead only of Argentina.”

 

Investment Week (October 11)

2023/ 10/ 12 by jd in Global News

“European and US IPO activity has shown ‘signs of thawing’ throughout 2023, as the number of issuances slowly rise,” though hesitance is expected to remain until economic stabilization more fully materializes. The same data from PwC’s latest IPO Watch revealed “mainland China continued to dominate IPO numbers throughout last quarter, accounting for almost 35% of global IPO issuance and raising $11.7bn, followed by the US ($9.3bn) and India ($2.3bn).”

 

Guardian (September 21)

2023/ 09/ 24 by jd in Global News

“Europe’s apparent rightwards drift is not a fait accompli. But there is a risk that, as mainstream parties accommodate more and more of the radical right’s agenda, it becomes one. Years of austerity, followed by the pandemic and the Ukraine-related cost of living crisis, have led to chronic economic insecurity for less well-off Europeans. That has created an opening for ugly political movements and populist leaders to exploit.”

 

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