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Reuters (September 10)

2020/ 09/ 12 by jd in Global News

“Wildfires across the U.S. West are among the sparks from climate change that could ignite a U.S. financial crisis by damaging home values, state tourism and local government budgets.” This was just one of the findings of an advisory panel to the Commodities Futures Trading Commission.

 

Investments & Pensions Europe (August Issue)

2020/ 08/ 23 by jd in Global News

“Credit investors would be wise to reflect upon the growing debt burden weighing on the global economy.” Debt has surged since the pandemic and it was already at high levels. “Global debt rose by $10trn (€8.9trn) in 2019 to $255trn. At the end of last year, global debt stood at 322% of global GDP, or 40% higher than before the 2008 financial crisis.”

 

Wall Street Journal (March 18)

2020/ 03/ 20 by jd in Global News

“The coronavirus pandemic is devastating global travel, causing business to evaporate and forcing companies to slash payroll in what’s shaping up to be the biggest test the modern travel industry has ever faced.” Travel bans today’s other issues are different from the financial crisis. They “can’t be overcome with cheaper fares or clever marketing.” Moreover, “the crisis could permanently reshape attitudes toward travel, fundamentally changing the landscape for hotels, airlines and cruise companies, and the millions of smaller businesses that make up the industry.”

 

Reuters (November 29)

2019/ 12/ 01 by jd in Global News

“European investors managing assets worth more than 1 trillion pounds ($1.28 trillion) are pressing top auditors to take urgent action on climate-related risks, warning that failure to do so could do more damage than the financial crisis.” The investors assert that the Big Four audit firms “are not giving enough weight to a potentially rapid transition towards a low-carbon future as governments implement the 2015 Paris Agreement to curb climate change.”

 

Reuters (February 28)

2019/ 03/ 01 by jd in Global News

“Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis, highlighting deepening cracks in an economy facing weak demand at home and abroad.”

 

South China Morning Post (September 3)

2018/ 09/ 04 by jd in Global News

“Bankers did not cause the 2008 financial crisis…. Instead, blame for the crash lies squarely with the world’s governments. Sure, bankers were both greedy and reckless. But it was government policies that created the conditions in which greed and recklessness were allowed–even required–to flourish.” By ignoring this and “failing to learn from their mistakes, they have made another crash inevitable.”

 

The Guardian (August 9)

2018/ 08/ 10 by jd in Global News

“The era of low interest rates will last for at least another 20 years, despite gently rising official borrowing costs in the coming years, one of the Bank of England’s leading policymakers has forecast.” Outgoing monetary policy committee (MPC) member Ian McCafferty said that “structural changes in the global economy meant UK borrowers and savers should get used to interest rates being “significantly” below the 5% average in the 10 years leading up to the financial crisis.”

 

Barrons (December 30)

2017/ 12/ 30 by jd in Global News

“Largely absent during the economy’s eight-year recovery from the financial crisis, inflation is on track to pick up in 2018—and it might just catch investors off-guard.” Even a return to modest inflation, e.g. 2.5%, would be a jolt that “could reshuffle the market.”

 

Institutional Investor (July 20)

2017/ 07/ 22 by jd in Global News

“After eight straight months of positive returns, hedge funds may have finally redeemed themselves in the eyes of investors…. Total industry assets under management rose by $34.1 billion to $3.1 trillion, with positive returns boosting asset growth. The renewed interest in hedge funds comes in the midst of industry’s greatest period of performance since the financial crisis.”

 

Reuters (July 11)

2017/ 07/ 12 by jd in Global News

As its first family fights publicly in an unprecedented and ugly manner, the “shrinking returns” of its sovereign wealth fund, GIC, “are adding gloom to Singapore. The sovereign wealth fund, which manages an estimated $343 billion of assets, has delivered its worst annual performance since 2001 barring the financial crisis.” Moreover, the “outlook is depressing too” as GIC prepares for “a protracted period of low returns.”

 

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