Mark Zuckerberg Learns the Game
Peter Isackson (Fair Observer) | With the integrity of a monopoly to ensure, Mark Zuckerberg, the enfant terrible, has taken a major step forward in becoming a Washington insider.
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Private financial assets fell by 0.1% in 2018, the first decline since 2008
Allianz Wealth Report | Rising uncertainty took its toll on financial markets in 2018 – and households felt the brunt: Private financial assets fell by 0.1% in 2018, the first decline since 2008. Gross financial assets in the 53 countries we analyzed thus remained more or less flat at EUR 172.5 trillion. The decline in gross financial assets in 2018 was widespread, both emerging and advanced countries ended the year in the red. For emerging markets, it was the first time in this century, for advanced markets the third time since 2008 and 2002.
Iberdrola will invest 480 M€ in construction of largest terrestrial windfarm in Latin America
Link Securities | Iberdrola, through its Brazilian subsidiary Neoenergia, will construct its largest terrestrial wind-farm complex in Latin America. Named Oitis it will be composed of a total 12 farms with a combined installed capacity of 566.6 MW.
Difficult environment in nickel sector causes Acerinox to cut jobs
Bankinter | Acerinox has communicated to the regulator (CNMV) a proposal to cut 300 jobs which it will also communicate to the Company Committee for the factory in the Campo of Gibraltar. The sector´s environment remains difficult.
Carry Me Home
Chris Iggo (AXA IM) | The market is trading like it believes the mid-cycle correction story rather than the impending recession narrative. Equity and credit markets are doing “ok” and rates have bottomed for now.
When tadpoles become frogs?
José Carlos González Vázquez (UCM/MA Abogados) | Following the Anglo-Saxon model, the new European directive transforms the duties of directors – to the benefit of financial creditors. When? When insolvency is close.
If robots take our jobs, what will it mean for climate change?
Laurie Wright (The Conversation) | Nearly half of the tasks currently undertaken by humans could already be automated, even at current levels of technology. Within the next decade it is likely large sections of society will be looking for new jobs.
Sustained 10% increase in oil price only cuts 0.1% from growth 10% in US and EU
Bankia Estudios | The sharp increase in oil prices produced by the attack on Saudi installations happened as a moment of weakness in the global economy with multiple centres of uncertainty (trade war, Brexit, global industrial recession, among others); however, it would have to be persistent and much more intense to derail global expansion.
Is China’s Belt and Road Initiative Strategic Genius, Arrogant Overreach or Something Else?
Atul Singh via Fair Observer | The Belt and Road Initiative is China’s bold and risky response to internal tensions and external pressure, but it is not backed by an inspiring idea.
Cryptocurrencies recover and increase capitalisation by 159%
Funcas | The capitalisation of cryptocurrencies increased 159% in the first half of 2019 and went from 125 Bn$ at the end of 2018 to 325 Bn$ at the end of June, according to the Report on “Cryptomarkets and Blockchain” by the Observatory of Financial Digitalisation (OFD) of Funcas and Finnovating.