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World economy 5th June 2021

The Reality Problem Of Net-Zero Ambitions

Today is Environment Day and it is time to take stock of how the private sector is contributing to reducing the carbon footprint. Greenhouse gas emissions play an important role in global warming and, although business has long been trying to reduce them through energy efficiency programmes and similar initiatives, the urgency of the climate crisis is raising the bar significantly. In this article Roland Rott, director of La Française Sustainable Investment Research, analyses the real problem in achieving net zero carbon claims.

World economy 3rd June 2021

The Dollar: From 71% To 59% Of Central Bank Reserves In 20 Years

Luis Alcaide | The world is gradually moving towards a multiple reserve system. In its latest World Economic Outlook, the IMF notes that when the euro made its appearance, the dollar accounted for 71% of foreign exchange reserves. In the last quarter of 2020, dollar reserves held by central banks had fallen to 59%, the lowest share in the last 25 years. The complaints in 1960 from the then French…

World economy 3rd June 2021

Cuba Does Not Give Up… But Authorises The Creation Of Micro, Small And Medium-Sized Enterprises

According to the prime minister, Marrero, despite the economic opening, “the state enterprise is the main subject of the economy”, and the expansion of activities to non-state forms of management does not lead to a process of privatisation. “There are limits that cannot be exceeded,” he said.

World economy 2nd June 2021

Legal Marijuana Sales Exceeded USD 21 Billion Globally In 2020

In the first quarter of 2021 cannabis companies raised nearly USD 4.3 billion in debt and equity. Cannabis is making a comeback and enjoying popularity and acceptance it hasn’t seen in thousands of years – but caution is advised.

World economy 31st May 2021

Carbon Pricing Is Too Small Scale To Make A Difference

“At the global level, currently only 22% of carbon is being priced, which is really insufficient,” says climate change strategist Lucian Peppelenbos. “And the average global price of about USD 2/t CO2e is nowhere close to being serious.”

World economy 30th May 2021

Support Is Growing For A Universal Basic Income

Guy Standing via The Conversation | Wales has become the latest country to explore the idea of a universal basic income, which gives every adult a fixed amount of money, regardless of their employment status.Since COVID-19, there has been a global surge in support too. In the USA, Los Angeles has become the latest city to launch an experiment, and there have been trials in Canada, South Korea and Kenya. In Europe, a poll last year, covering France, Germany, Italy, Poland, Portugal and Spain, found that more than two-thirds of people were in favour of a basic income.

World economy 25th May 2021

G7 May Back 15% Minimum Corporate Tax Rate Next Week

US Treasury Secretary Janet Yellen will attend the G7 summit in London next week (4-5 June) with the idea of pushing for agreement on a global minimum corporate tax rate. The US authorities would be willing to accept a global minimum corporate tax rate of 15%, instead of the 21% they had previously advocated, in order to facilitate the agreement. This US decision may already precipitate an agreement at G7…

World economy 22nd May 2021

#GreenGrowth – The Green Wave Of Growth

According to the Russian economist Kondratieff and his scholars, it is possible to identify five long cycles of growth since the Industrial Revolution at the end of the 18th century, each triggered by the emergence of new technologies. The burning question now is: what will shape the next long wave of growth?

World economy 21st May 2021

Global Minimum Tax: Between 21% Proposed By The US And 12.5% Pre-Agreed By The OECD

The US has proposed to sign an agreement on a global corporate minimum tax of 21%, with the aim of achieving a fair distribution of taxes between the jurisdictions where multinationals are based and the countries where their clients actually are. Europe’s reaction to the proposal has been positive. The aim is to sign an agreement at the G20 summit in July.

World economy 20th May 2021

More US Jobs Available Than At Any Point In The Last 20 Years. What’s Going On In The Labour Market?

Felipe Villarroel (TwentyFour AM)| The latest batch of NFP data for April showed the biggest miss we can remember in terms of jobs created (266k versus an expected 1m), and taken at face value muted wage pressures as measured by average hourly earnings (AHE). At the same time, the likes of McDonald’s and Burger King were paying people just to attend interviews as they could not fill the positions they needed to operate their restaurants properly. So is this a case of subdued demand in the labour market with companies not hiring, or subdued supply with workers for whatever reason unwilling to fill vacancies?

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