World economy

Do we need a universal basic income?

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.


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…

green digital

#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?

US labor market

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?

Bank of Canada

Headline Inflation Overshoots, But Not A Concern Yet For The BoC

Monex | Today’s CPI release saw headline inflation rise from 2.2% in March to 3.4% YoY in April. The print was marginally higher than expectations, which sat at 3.2%, but despite the figure exceeding the Bank of Canada’s 2% target, it won’t cause concern among the Governing Council just yet. This is because base effects had a large part to play in the increase in the 12-month figure as prices…

stock markets 777x400 1

Global Earnings – Open For Business

Aneeka Gupta (WisdomTree) | The current earnings season sheds plenty of light on the outlook for global equity markets. This time last year, the world was thrown into disarray owing to the COVID-19 pandemic. Since then, we have seen lockdowns lifted as vaccination rollouts gather pace. In addition, the gradual resumption of economic activity, stimulative global fiscal plans, and the release of pent-up consumer demand are being reflected in first-quarter earnings results. As a result, the breadth of earnings revisions has been strongest in the US, followed by Japan, Europe while Emerging Markets and China are turning more neutral.