World economy

Virgin galactic

Virgin Galactic: Space Tourism Takes off with Branson’s inaugural flight

Louis Brennan via The Conversation | With British billionaire Sir Richard Branson’s successful flight to the edge of space, he and his company Virgin Galactic have firmly established themselves in the history books as space tourism pioneers. While not the first tourist to enter space, 70-year-old Branson is the first to make his journey with a commercial spaceflight company, marking a giant leap for the space tourism industry being championed by some of the world’s most famous billionaires.


The year of US infrastructures

When Old Infrastructure Ages

John Plassard (Mirabaud) | America’s infrastructure has long been infamous for its poor state. But it has final dawned on the country that something needs to be done. US President Joe Biden announced in mid-June that a bipartisan group of senators had reached consensus on a bill that would allocate $579 billion to spending on infrastructure. review of data by the American Society of Civil Engineers (ASCE) and the US Army Corps of Engineers shows how America’s infrastructure has aged. In its latest report on U.S. infrastructure, the ASCE put the average age of levees and dams to be 50 and 57 years old, respectively, meaning they are at or beyond their expected service age.


china happy

China’s Inflation Pressure Eases, Signaling The Economy’s Cyclical Slowdown

The rise in consumer price also halted to an end in June. Not only the CPI YoY growth rate down to 1.1% in June from 1.3% in May, the MoM growth rate also declined by 0.4% during the past month. The slump in CPI price is largely driven by the big drag from the volatile component. In particular, pork price decelerated by -36.5% YoY in June. But pork is not the only food factor dragging down CPI. The vegetable price growth rate also dropped to 0.1% YoY from 5.4% YoY last month.


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The Oil Industry Is Under Pressure, In A Process Of Transformation With A High Impact On The Global Scenario

Portocolom | Oil rose to the highest level in more than six years in New York (78 USD/bl) after the OPEC meeting failed to agree on a production increase. The United Arab Emirates rejected a proposed eight-month extension of production limits. The most immediate effect of the rupture is that OPEC and its allies will not increase production by August and this will deprive the global economy of vital additional…


auto

Are Auto Companies Preparing Their Workforce For A More Digital Future?

Catherine Macaulay & Rodrigo Kohn (Schroders) | As climate change ambition ramps up across the world, emissions reduction targets in the autos sector will likely be forced to tighten further. Numerous countries – including Norway, France, the UK, Sweden, Ireland and the Netherlands – have already announced internal combustion engine (ICE) vehicle phaseouts between 2025-2040. At the same time, technological advancements continue to transform the industry. Production processes are increasingly automated, autonomous driving technology is growing in sophistication, and consumer expectations around the digital experience of vehicles continue to increase.


USA stock exchange

IPO Activity Record: The First Time That Over USD 200 Billion Was Raised During The First Half Of Any Year

Baker McKenzie | H1 2021 saw a surge in IPO activity, driven by high liquidity, investor enthusiasm and the rise of SPACs. Capital raising during H1 2021 reached historic highs at over USD 290 billion, the first time that over USD 200 billion was raised during the first half of any year. This reflects a 220% year-on-year increase in capital raising. Deal volume also grew at a strong 143% year-on-year…


ChinaSolarPanels

China’s Dominance In The Solar Industry: A Danger For Massive ESG Investment

Portocolom AV | China currently dominates the solar industry, with Chinese companies controlling around 80% of the global solar supply chain, from raw material refining to panel production and assembly. In 2020, 45% of the global supply of poly silicon, the key refined material that comprises 95% of solar panels, came from China’s Xinjiang Uyghur Autonomous Region. The governments of the US, UK, Canada and the Netherlands have declared that China has committed genocide and crimes against humanity in its treatment of Uighurs and other Muslim-majority peoples in Xinjiang.


Gilead vaccine

Healthcare – Growth At An Attractive Price

Mathieu Racheter, Strategy Research, Julius Baer | Global healthcare remains our most preferred defensive sector due to attractive valuations in combination with solid growth perspectives. We see a number of structural tailwinds including demographics, big data, and increased demand in emerging markets, all of which should continue to drive above-average sales and earnings growth going forward. Healthcare remains our most preferred defensive sector due to attractive growth perspectives and undemanding…


Wall Street

What Do Rising Bond Yields Mean For The US Stock Market?

Sean Markowitcz (Schroders) |  Since the 1970s, there have been approximately 11 rising yield cycles. Yet, contrary to popular belief, these periods were overwhelmingly positive for the stock market. For example, US equities delivered a positive total return in nine of these episodes, with an annualised average performance of 13.4%.


em currency performance since taper tantrum

The EM Currency Rally Still Has Legs

James Barrineau (Schroders) | Since March of last year, emerging market (EM) currencies have risen by a gaudy 12.8% versus the US dollar. Near-term there have been some sizable moves, such as a 10% gain for Brazil’s real versus the US dollar since the end of March this year. That naturally leads to the suggestion that EM currencies may be getting expensive, but such a view does not take into…