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Whatever path the decade takes will of course matter for the trajectory of stocks, bonds, currencies and commodities. Here’s a look at which decade the 2020s could resemble. Fast forward to the 2020s and the global economy is expected to grow 6% this year, a rate not seen since the 1970s. “Many people think we are in the 1930s but I think we will wake up somewhere in the 70s,” said Amundi’s Blanque. Agreement on a minimum global tax rate is evidence of a possible shift, although it is still early days.
Persons: , Pascal Blanque, Kiran Ganesh, Amundi’s Blanque, Ronald Reagan, Margaret Thatcher, Erik Nielsen Organizations: UBS Global Wealth Management, Oxfam Locations: America, Stocks, U.S, China, Japan, Italy, Asia
S&P 500 futures meanwhile nudged 0.1% higher, with investors apparently viewing Thursday’s above-forecast U.S. inflation data and surging factory prices in China as temporary or manageable. Goldman Sachs economists said concerns that rising inflation will derail the market recovery or lead to sharply higher bond yields were probably misplaced. Speculators’ net long positions in U.S. bond futures hit the highest level since October 2017, U.S. financial watchdog data showed. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday. Bitcoin held on to weekend gains, when Elon Musk flagged Tesla’s possible resumption of transactions using the token.
Persons: Goldman Sachs, ” John Woolfitt, Treasuries, , Akira Takei, Bitcoin Organizations: U.S . Federal, Atlantic Capital, Asset Management, Nikkei, European Central Bank, Elon Musk Locations: TOKYO, U.S, COVID, China, London, , Asia, Hong Kong, Australia, Pacific, Japan, Xinjiang
Financials, energy stocks boost FTSE 100 ahead of reopening decision
  + stars: | 2021-06-14 | by ( Devik Jain | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Reuters) - London’s FTSE 100 index climbed on Monday, helped by gains in heavyweight financials and energy stocks, while investors awaited the government’s decision on whether it would delay England’s complete reopening from a third national lockdown. FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange in London, Britain, August 24, 2015. REUTERS/Suzanne Plunkett/File PhotoThe blue-chip index rose 0.4%. The domestically focused mid-cap FTSE 250 index advanced 0.4%. Asian shares also rose as market participants expected the U.S. Federal Reserve to stick to its dovish mantra later this week.
Persons: Suzanne Plunkett, Shell, ” Paul Donovan, Boris Johnson, ” Donovan, SThree Organizations: Reuters, London Stock Exchange, REUTERS, BP, Royal Dutch Shell, U.S . Federal Reserve, UBS Global Wealth Management, Serco, ITV Locations: London, Britain, U.S, British
After a reversal last year, global ad spending is forecast to snap back from the pandemic even faster than previously predicted, GroupM said in its latest forecast. Last year, global ad spending slipped 3.5% to $628 billion. Multinational and international marketers, such as Chinese companies spending abroad, are also accelerating digital ad spending, he added. Last year, the top five ad sellers—Google, Facebook, Amazon, Alibaba and ByteDance—generated $296 billion in ad revenue, or 46% of global ad spending, according to the report. Ten years earlier, the top five ad sellers—Google; Viacom and CBS; News Corp. and Fox; Comcast, and Disney —collected only 17% of global ad spending, GroupM said.
Persons: GroupM, Brian Wieser, Mr, Wieser, Alibaba, alex plavevski, Disney —, , Alexandra Bruell Organizations: WPP PLC, Amazon.com Inc, Inc, Facebook Inc, Multinational, Google, Facebook, Global, Viacom, CBS, News Corp, Fox, Comcast, Disney, , Tokyo Locations: Brazil, China, U.S, , Japan
European Privacy Ruling Could Mean More Scrutiny of Companies
  + stars: | 2021-06-14 | by ( Catherine Stupp | ) www.wsj.com + 0.00   time to read: +6 min
The case was referred to the European court after the GDPR took effect. “The one-stop-shop mechanism doesn’t work as smoothly as it should work,” said Hielke Hijmans, who oversees fines and sanctions for the Belgian data protection authority. European privacy authorities generally issue sanctions through regulatory procedures, not courts. But tensions have been brewing over some European privacy regulators’ speed in investigating GDPR complaints. Mr. Caspar said he has since applied for an extension of the ban with the European Data Protection Board, the umbrella group of EU regulators.
Persons: , Hielke Hijmans, Hijmans, Lorena Marciano, can’t, David Martin, Martin, , Johannes Caspar, Caspar, Barry Cook, Mr, Cook, VFS, Catherine Stupp Organizations: Facebook Inc, European Court, Justice, Facebook, Data, Belgian, Cisco Systems Inc, Irish, European Consumer Organisation, European Data Protection, VFS Global, Worldwide Holdings Ltd, EU Locations: Belgian, Ireland, Europe, Brussels, Hamburg, Germany
How this Asian family business wants to become a better corporate citizen
  + stars: | 2021-06-14 | by ( ) www.cnbc.com sentiment -0.99   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow this Asian family business wants to become a better corporate citizenAlliance Global CEO Kevin Tan said the company wants to become carbon neutral by 2035, and that it will add 5 million jobs either directly or indirectly through its operations by the same year.
Persons: Kevin Tan Organizations: Alliance Global
Analysts at Goldman Sachs have named a number of renewable energy companies that are set for "unprecedented growth" and said now is the time to invest. "Many renewables are down more than 20% from their peak," the analysts wrote in a research note on June 8, adding that their stock picks provide an attractive entry point into "clean" energy. Government funding, regulatory support and cash flowing into so-called ESG funds — those that take environmental, social and governance factors into account — are now set to boost the performance of renewable energy stocks, the bank said. "We think companies exposed to the energy transition are likely to deliver unprecedented growth over the coming decades," they added. U.S. and global firms in Goldman's Global Renewable Energy basket include:
Persons: Goldman Sachs Organizations: Goldman, Global, Energy
How this billionaire family business wants to become a better corporate citizen
  + stars: | 2021-06-14 | by ( Lucy Handley | ) www.cnbc.com sentiment -0.91   time to read: +2 min
A combination of a delicate natural environment and increasing poverty is encouraging the son of a billionaire business founder to improve their company's sustainable and social efforts. Property group Alliance Global is based in the Philippines, which — being an archipelago of more than 7,000 islands — is particularly susceptible to the effects of climate change, as CEO Kevin Tan described. "(There is an) uneven sort of distribution of population growth towards the urban centers versus the rural centers of our country. The Philippines' environmental and economic issues spurred Alliance Global to identify two goals: becoming carbon neutral by 2035 and creating 5 million jobs, either directly or indirectly, by the same date. "We decided we wanted to be … better corporate citizens," Tan said.
Persons: Kevin Tan, We're, Tan, Tan's, Andrew Tan, , we've, We've Organizations: Alliance, Alliance Global, Arches Development Corporation, Bank, Global Locations: Philippines, Manila
World stocks near record high as investors await dovish Fed act
  + stars: | 2021-06-14 | by ( Hideyuki Sano | ) www.reuters.com + 0.00   time to read: +4 min
REUTERS/Kim Kyung-HoonGlobal shares held firm near record highs on Monday while U.S. bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week. The MSCI all-country world equity index (.MIWD00000PUS), the U.S. S&P 500 (.SPX) and the pan-regional STOXX Europe 600 index (.STOXX) all closed at record highs on Friday. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday. "There will probably be no surprise from the Fed this week," said Mitsubishi UFJ's Fujito. U.S. West Texas Intermediate (WTI) crude futures added 0.2% to $71.05 per barrel, near their highest since October 2018.
Persons: Kim Kyung, Norihiro Fujito, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Treasuries, Akira Takei, Boris Johnson's, Johnson Organizations: Nikkei, REUTERS, Hoon Global, Federal Reserve, Japan's Nikkei, U.S . Federal Reserve, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Asset Management, European Central Bank, British, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, Hong Kong, Australia, U.S, Europe, India
"G7 leaders have utterly failed to face up to the challenges facing the world," said Nick Dearden, director of campaign group Global Justice Now. This summit proves beyond all doubt that the G7 is not fit for purpose," Dearden said. In a note Monday, Paul Donovan, chief economist at UBS Global Wealth Management, referred to the G-7 as a "selfie summit." "The main focus of the G7 meeting (the photo opportunity) seemed to go well. Extinction Rebellion (XR) activists take part in the "Sound The Alarm" march during the G7 summit in Cornwall on June 11, 2021 in St Ives, Cornwall, England.
Persons: Charles Michel, Joe Biden, Yoshihide Suga, Boris Johnson, Mario Draghi, Leon Neal, Nick Dearden, Dearden, Paul Donovan, Donovan, Jeff J Mitchell Organizations: European, Japanese, Italian, Getty, Hong, Sino, U.S, of British Industry, Global, EU, European Commission, European Council, UBS Global Wealth Management, WHO, World Trade Organization Locations: U.S, British, Carbis, Carbis Bay, Cornwall, China, England, Xinjiang, Hong Kong, Canada, France, Germany, Italy, Japan, Australia, India, South Korea, United States, St Ives, South Africa, Switzerland, Norway, Brazil
Japan's FSA disappointed by Archegos global fallout
  + stars: | 2021-06-14 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
A man walks past a sign of Japan's Financial Services Agency in Tokyo August 7, 2014. REUTERS/Toru HanaiThe head of Japan's financial watchdog said he was disappointed by the global fallout from the collapse of investment fund Archegos Capital Management despite past regulatory reforms. "Although the problem didn't result in the collapse of financial system, it's very disappointing such a major incident happened," Ryozo Himino, Financial Services Agency (FSA) Commissioner, said in an online speech. Global banks including Credit Suisse (CSGN.S) and Nomura Holdings Inc (8604.T) reported losses from Archegos, taking the total hit beyond $10 billion. read moreThe FSA will have to monitor risk management at prime brokers, as well as regulations for family offices like Archegos, Himino also said.
Persons: Toru Hanai, Nomura, Himino Organizations: Japan's Financial Services Agency, REUTERS, Archegos Capital Management, Financial Services Agency, Credit Suisse, Nomura Holdings Inc, Thomson Locations: Tokyo, Archegos, U.S
Doctors in India say COVID-19 patients have unusual symptoms that could be due to the Delta variant. Doctors in India claim that the highly infectious Delta variant could cause unusual symptoms such as gangrene and hearing loss, which they say are becoming more common in COVID-19 patients of all ages. The highly infectious variant has spread to 67 countries and is becoming more common around the world. The Delta variant is estimated to be 60% more infectious than the Alpha variant that's currently the most common in the US. A Public Health England document from May reported the Pfizer and AstraZeneca vaccines were respectively 88% and 60% effective against the Delta variant after both doses.
Persons: Anthony Fauci, Joe Biden's, didn't, Ganesh Manudhane, Manudhane, Dr, Abdul Ghafur, hadn't, Anurag Agarwal, Agarwal, Neil Ferguson, Dr Jeffery Barrett, Barrett, Pradeep Gaur, Harsh Vardhan, it's, Ghafur, Shailesh Kothalkar, David Denning Organizations: Bloomberg, Daily Mail, Alpha, Health, Pfizer, AstraZeneca, Delta, Seven Hills, Apollo Hospital, Indian, of Medical Research, of Genomics, MRC Centre, Infectious, Imperial College London, Genomics, Wellcome Sanger Institute, Rapid, Getty, Seven Star Hospital, Telegraph, University of Manchester, Global, Fund, Fungal Infections Locations: India, COVID, Mumbai, Chennai, Nature, Delhi, New Delhi, Nagpur
Here's a look at which decade the 2020s could resemble. Fast forward to the 2020s and the global economy is expected to grow 6% this year, a rate not seen since the 1970s. Bond investors need to be wary if inflation roars back, as do central banks which have not experienced inflationary pressures for decades. "Many people think we are in the 1930s but I think we will wake up somewhere in the 70s," said Amundi's Blanque. Agreement on a minimum global tax rate is evidence of a possible shift, although it is still early days.
Persons: Brendan McDermid, Pascal Blanque, Kiran Ganesh, Amundi's Blanque, Ronald Reagan, Margaret Thatcher, Erik Nielsen Organizations: Dow Jones, New York Stock Exchange, REUTERS, UBS Global Wealth Management, Oxfam, Thomson Locations: New York, U.S, America, Stocks, China, Japan, Italy, Asia
Clearly still some division beneath the surface within the G-7, economist says
  + stars: | 2021-06-14 | by ( ) www.cnbc.com sentiment -0.98   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailClearly still some division beneath the surface within the G-7, economist saysPaul Donovan, chief economist at UBS Global Wealth Management, discusses the three-day G-7 summit and what lessons can be learned from the final communique.
Persons: Paul Donovan Organizations: UBS Global Wealth Management
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 11, 2021. REUTERS/StaffWorld stocks climbed another peak on Monday, while U.S. bond yields were near three-month lows as worries of rising inflation abated and investors anticipated the U.S. Federal Reserve sticking to its dovish course this week. S&P 500 futures meanwhile nudged 0.1% higher, with investors apparently viewing Thursday's above-forecast U.S. inflation data and surging factory prices in China as temporary or manageable. Goldman Sachs economists said concerns that rising inflation will derail the market recovery or lead to sharply higher bond yields were probably misplaced. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday.
Persons: Goldman Sachs, John Woolfitt, Treasuries, Akira Takei, Paul Donovan, Brexit, Donovan, Bitcoin Organizations: REUTERS, Staff, U.S . Federal, Atlantic Capital, Asset Management, UBS Global Wealth Management, Markets, Japan's Nikkei, European Central Bank, Elon Musk, Thomson Locations: Frankfurt, Germany, U.S, COVID, China, London, Asia, Hong Kong, Australia, Pacific, Japan, Xinjiang
Global shipping disruptions could trigger delays in goods in this year's holiday season, industry experts say. A COVID-19 outbreak at a major Chinese port has led to a backlog of shipments, worsening an existing shipping crisis. "Heaven knows what's going to happen come August or September," one expert told the BBC. Shipping disruptions around the world could lead to a shortage of goods for the holiday season, according to industry experts. James Baker, container shipping editor at shipping industry publication, Lloyd's List, told the BBC that retailers are already putting in orders for the holiday season because they know how slow shipping is at the moment.
Persons: Insider's Rachel Premack, Tom Fairbairn, Nils Haupt, Lloyd, Haupt, James Baker, Baker, coronavirus Organizations: BBC, Reuters, Retailers, Maersk Locations: Guangdong, South China, China, North America, Europe, Suez, Yantian
Home Depot is among many retailers hit by a global shipping crisis that has led to delays and rising prices. Experts say holiday season shopping may be disrupted by limited stock and higher prices. Home Depot, hoping to sidestep a global shipping crisis, has contracted its own ship to transport its goods. The home-improvement store is one of many retailers grappling with shipping delays and rising costs caused by supply-chain problems. For retailers, this means a risk of low stock, especially as we approach the holiday season.
Persons: Ted Decker, It's, we've, Jonathan Gold, Mills Organizations: US ., of Commerce, CNBC, National Retail Federation, Procter, Gamble
IPG's R/GA has been one of few ad agencies to regularly report its staff diversity data. IPG ad agency R/GA has been recognized for the diversity and inclusion strides it's made since last year's social justice protests. The quarterly release of its diversity data was just one commitment R/GA made under its Make/Change DEI program implemented last year. Young commended R/GA for doing its research, coming up with a strategy for improvement, and continuing to release its diversity data. Hold managers accountableTedeschi said all agency leaders must be held accountable for R/GA's DEI objectives.
Persons: IPG's, Jai Tedeschi, Nathan Young, Young, Angie Hannam, Tedeschi, Hannam, That's, Lauren Tucker, Sean Lyons Organizations: U.S, Opportunity Commission, Deloitte Digital, Global, The Richards Group, The Martin Agency, Transgender Locations: execs, Chicago
EToro is a multi-asset brokerage firm that saw 3.1 million new users flock to its platform in the first quarter of 2021. Bitcoin's real valueAlthough most investors view bitcoin as a store of value, there are two key elements that increase its attractiveness, says Laidler. What that means simplistically is despite the very high volatility, an investor can add bitcoin into a broadly diversified portfolio and it can lower the risk in that portfolio, Laidler says. Advice to investorsWhile Laidler has an enthusiastic outlook on bitcoin and other cryptocurrencies, he doesn't recommend investing in anything you don't understand. So whatever you do, don't just invest in bitcoin, make that a small part of your overall portfolio," Laidler says.
Persons: Ben Laidler, Bitcoin, Laidler, bitcoin, cryptocurrency Organizations: Bloomberg Galaxy Crypto, Solana
Consider the maintenance costs in time and moneyAs Kelman pointed out, home improvement know-how is a valuable skill when it comes to investment properties. There are a number of questions you need to ask yourself before going all in on an investment property, she explains. Beeston also suggests getting a real estate agent who specializes in investment properties. "Understand what your long-term goals are and how each investment property fits into your road map. Even the best investment properties won't make sense for every investor.
Persons: Kelman, Jeffrey Levine, Marguerita Cheng, Jennifer Beeston, Helen Zhao Homeowner's, Seth Williams, Williams Organizations: Buckingham Wealth Partners, Blue, Global Locations: Beeston
Founder Sebastian Centner says he's targeting cannabis consumers who want a unique, luxury product. See below for an exclusive look at the pitch deck Hervé used to close the round. Hervé founder Sebastian Centner. "It's just like somebody who consumes a Jose Cuervo tequila because they like tequila soda," Centner said. Check out Hervé's Series A deck below:Note: While the deck is posted in full, some financial information has been removed at Hervé's request.
Persons: Sebastian Centner, Centner, Herve Centner, Jose Cuervo, They're Organizations: Sol Global Investments Locations: Toronto
The Long March-2F Y12 rocket carrying the Shenzhou-12 spacecraft is transferred to the launch pad at Jiuquan Satellite Launch Center in Gansu province, China June 9, 2021. A three-man crew of astronauts is expected to board the spacecraft to Tianhe, the core module of China's space station. Shenzhou-12, meaning "Divine Vessel", will be the third of 11 missions needed to complete China's space station by 2022. China's space bloggers speculate they will be Nie Haisheng - who at 56 would be China's oldest astronaut sent into space - Deng Qingming, 55, and Ye Guangfu, 40. China began building its space station in April with the launch of Tianhe, the first and largest of its three modules.
Persons: Chen Dong, Jing Haipeng, Yang Liwei, Nie Haisheng, Deng Qingming, Ye Guangfu, John Glenn, Yang, Liu Yang, Wang Yaping, Liu, China's, Wang Organizations: REUTERS, Communist Party, NASA, Space Station, MEN, China Manned Space Engineering, Global Times, China, Thomson Locations: Gansu province, China, Earth's, China's, U.S
A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. The bids show energy giants continue to have appetite for investing in competitive oil and gas projects despite growing government, investor and activist pressure on the sector to tackle greenhouse gas emissions. The outlook for global LNG supplies tightened sharply in recent months after Total suspended its $20 billion LNG project in Mozambique due to a surge in violence. read moreIt followed a string of delays of LNG projects in North America as COVID-19 hobbled demand last year. read moreQatar is also in talks to make Chinese firms partners in the project, sources told Reuters last month.
Persons: Issei Kato, Conoco, Exxon, LOWER, QP Organizations: REUTERS, Exxon Mobil, Royal, Shell, TotalEnergies, ConocoPhillips, Chevron, Eni, Reuters, Qatar Petroleum, ExxonMobil, International Energy Agency, U.N, European, Total, Global, Qatari, Exxon, Thomson Locations: Futtsu, Tokyo, Japan, Qatar, Shell, Chevron, TotalEnergies, State, Mozambique, North America, Asia
Forget Going Back to the Office—People Are Just Quitting Instead
  + stars: | 2021-06-13 | by ( Lauren Weber | ) www.wsj.com + 0.00   time to read: +8 min
The shift by Americans into new jobs and careers is prompting employers to raise wages and offer promotions to keep hold of talent. Instead, after a round of layoffs, he found the team had one member, and he was it. Melanie Chavez recently started a job that calls on her networking skills and her passion for diversity and inclusion. ‘I really feel like I’m going to shine.’ Photo: Kamara SwabyThe days were stressful, he says, and there were few opportunities for promotion. “I really feel like I’m going to shine.”Edward Moses is pleased with his new job as a technical writer.
Persons: Edward Moses, Melanie Chavez, Kamara Swaby, Moses, , Steve Cadigan, “ It’s, Draney, , Pluralsight, Ian Crawford, Larry Garvin, Mr, Sam Martin, Crawford, Mai Lan Nguyen, Kathie Patterson, Patterson, Cadigan, Chavez, ” Edward Moses, Evan Jenkins, Lauren Weber Organizations: Labor Department, Prudential Financial Inc, , LinkedIn, , Utah Global, University of Utah, Employers, Schneider Electric, Financial, , The Wall Locations: Kentucky, Louisville, Schneider Electric North America, Detroit, lauren.weber
G7 agrees 1 billion COVID vaccine donation - communique
  + stars: | 2021-06-13 | by ( ) www.reuters.com sentiment -0.64   time to read: +2 min
"The commitments since we last met in February 2021 including here in Carbis Bay provide for 1 billion doses over the next year," said the communique, seen by Reuters. "We will work together with the private sector, the G20 and other countries to increase this contribution over the months to come," the communique said. The G7 said in the draft that the vaccine donations built on exports from domestic production with at least 700 million doses exported or to be exported this year, of which at least 50% have gone to non G7 countries. The COVAX facility, backed by the World Health Organization (WHO) and the Global Alliance for Vaccines and Immunization (GAVI), aims to secure 2 billion vaccine doses for lower-income countries by the end of 2021. "We reaffirm our support for all pillars of the ACT-A across treatments, tests and strengthening public health systems as well as vaccines," the communique said.
Persons: St, Toby Melville Organizations: REUTERS, Toby Melville Group of, Reuters, World Health Organization, WHO, Global Alliance, Vaccines, ACT, Thomson Locations: St Ives, Cornwall, Britain, Carbis, Japan, China
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