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☆ Economist who called 2008 crisis says more bank collapses are coming
▼ + stars: | 2023-04-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

More bank failures are coming, according to top economist Raghuram Rajan. Rajan, who called the 2008 crisis, warned of more volatility stemming from the Fed's rate hikes. The bank's failure sparked a steep sell-off in regional bank stocks, leading some commentators to warn of a 1980s-style banking crisis. "This sense that the spillover effects of monetary policy are huge and aren't dealt with by ordinary supervision has just escaped our consciousness over the last so many years," Rajan said of central bank policy. But Fed Chair Powell has denied the possibility of a rate cut this year, warning markets that rates would continue remain restrictive through 2023.

Economists who obsess about tightly calibrating the quantity of money in the system balk at QE as a tool. Two weeks of turmoil in mid-sized U.S. banks follow just nine months in which the Fed had been winding down its outsize balance sheet that peaked near $9 trillion during the pandemic. "Illiquidity episodes may force central banks to slow the process of reserve withdrawal. Reuters GraphicsILLIQUIDTY EPISODESThis could become a trap that prevents normalisation of the balance sheet longer term, they said. Better-measured and more forward-looking liquidity regulations, incentives for longer-duration deposits during QE bouts and rethinking stress tests were all options, they wrote.

☆ Fed's best option is to hike rates by 25 basis points and watch for a month and a half: Professor
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's best option is to hike rates by 25 basis points and watch for a month and a half: ProfessorRaghuram G Rajan of The University of Chicago Booth School, formerly governor of the Reserve Bank of India, says "doing zero would convey inappropriate signals at this point."

☆ European markets expected to open higher after bank lifelines eased crisis fears
▼ + stars: | 2023-03-17 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Former Reserve Bank of India Governor Raghuram Rajan thinks it's still too early to tell whether the U.S. rescue plan to stem bank contagion risks has worked. "I think what's happened so far, in terms of the rescues, is sort of done the first aid. The question is — is there a slow bleed that is still going on," he told CNBC's "Street Signs Asia." Rajan, now a professor of finance at The University of Chicago Booth School of Business, noted questions remain around the collapse of Silicon Valley Bank. "How come a mid-size bank was oblivious of interest rate risk?"

☆ Watch CNBC's full interview with Raghuram Rajan, David Bahnsen and Aaron Klein
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Raghuram Rajan, David Bahnsen and Aaron KleinAaron Klein, senior fellow in economic studies at The Brookings Institute, Raghuram Rajan, professor of finance at the University of Chicago Booth School of Business, and David Bahnsen, founder and chief investment officer of the Bahnsen Group, join 'The Exchange' to discuss the Fed's response to the SVB fallout, bank market risk, and the contagion effect from SVB.

☆ Silicon Valley Bank: What experts think of US regulators response to the fallout
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSilicon Valley Bank: What experts think of US regulators response to the falloutAaron Klein, senior fellow in economic studies at The Brookings Institute, Raghuram Rajan, professor of finance at the University of Chicago Booth School of Business, and David Bahnsen, founder and chief investment officer of the Bahnsen Group, join 'The Exchange' to discuss the Fed's response to the SVB fallout, bank market risk, and the contagion effect from SVB.

☆ Davos 2023: Key takeaways from the World Economic Forum
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +6 min

[1/4] NATO Secretary General Jens Stoltenberg, Poland's President Andrzej Duda and Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland take part in the World Economic Forum session on "Restoring Security and Peace. REUTERS/Arnd WiegmannDAVOS, Switzerland, Jan 20 (Reuters) - Global leaders and business executives departed a freezing World Economic Forum (WEF) meeting on Friday after a frank exchange of views over how the world will tackle its biggest issues in 2023. Here's what we learned:ECONOMY: Gloom and doom heading into Davos turned into cautious optimism by the end with the global economic outlook for the year ahead looking better than feared. On the inside, political leaders like Kier Starmer railed against new oil investments and Pakistani climate minister Sherry Rehman pushed for loss and damage funding. The lesson I have learned in the last years ... is money, money, money, money, money, money, money."

☆ China's reopening 'good news' for growth — but could be inflationary, economists warn at Davos
▼ + stars: | 2023-01-20 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

China's reopening has been one of the most discussed topics at the World Economic Forum in Davos. DAVOS, Switzerland — China's economic reopening might boost global growth, but the business leaders and policymakers at the World Economic Forum this week are also a little anxious on its potential inflationary impact. China's decision to welcome tourists again as well as to make it easier for those in the country to travel abroad has been one of the most discussed topics at the Davos gathering in the Swiss Alps. On the other hand, however, there are concerns about what this means for inflation and the cost of living. "So China's opening [is] good news overall, but potentially, the inflationary impact — there could be some," he said.

[1/4] People stand in front of the Blockchain Hub Davos 2023 at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 16, 2023. REUTERS/Arnd WiegmannDAVOS, Switzerland, Jan 19 (Reuters) - In the snow and ice on the main drag in Davos, the impact of the crypto winter is plain for WEF attendees to see. Executives in Davos said they are now all about blockchain technology, proper controls and regulation, and the promise of disruption that it holds for financial services and beyond. Colm Kelleher, chairman of Swiss bank UBS (UBSG.S), told a WEF panel that blockchain technology will help reduce costs for banks. "We kind of dodged a bullet," Kelleher said, noting that the collapse in the value of crypto currencies had not caused systemic problems.

☆ Former Indian central bank governor says a soft landing will be 'very hard' for the Fed
▼ + stars: | 2023-01-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Rajan Raghuram at Jackson Hole, Wyoming August 24, 2018. David A. Grogan | CNBCThe U.S. Federal Reserve will find it "very hard" to engineer an economic soft landing after its cycle of aggressive interest rate hikes, according to former Reserve Bank of India Governor Raghuram Rajan. After a string of promising data releases indicated softening inflation, markets believe that the central bank is ready to ease its foot off the brake. Fed officials have emphasized that the fight to bring inflation back towards the FOMC's 2% target is not over. "As they celebrate, it does the opposite of what the Fed wants, it loosens financial conditions quite a bit.

☆ Davos 2023: Global trade rethink: 'race of the big pockets'?
▼ + stars: | 2023-01-19 | by ( Mark John | ) www.reuters.com time to read: +5 min

SummarySummary Companies US climate bill concerns dominate Davos trade talkSome fear "rich-country game" of rising state subsidiesRevamped globalisation must benefit all, Davos toldDAVOS, Switzerland, Jan 19 (Reuters) - The United States pitched its vision of "worker-centric" trade. "I am very concerned," World Trade Organization (WTO) chief Ngozi Okonjo-Iweala told Reuters on the sidelines of the meeting in Davos, Switzerland. Three decades of free global trade have, the International Monetary Fund estimates, lifted more than a billion people out of extreme poverty. The United States notably built into its trade pact with Mexico a mechanism for identifying and dealing with the denial of worker rights. U.S. Trade Representative Tai told a panel on Wednesday the United States wanted to "lead a conversation" on a new version of globalisation.

☆ WEF Davos: Fireside chat with Raghuram G. Rajan
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWEF Davos: Fireside chat with Raghuram G. RajanCentral banks are exploring issuing central bank digital currencies, or CBDCs, but what exactly they look like and how they’ll work is still a matter of debate. China has pushed ahead with real-world trials of its own CBDCs while other central banks are debating whether such digital currencies are even needed. Raghuram Rajan, professor of finance at the University of Chicago Booth School of Business, talks to CNBC's Arjun Kharpal.

☆ Will crypto continue to be a speculative asset?
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWill crypto continue to be a speculative asset? CNBC's Arjun Kharpal asks finance professor Raghuram Rajan, from the University of Chicago Booth School of Business, if crypto will continue to be a speculative asset after the market crash in 2022.

"The idea that somehow cryptos are going to maintain value, while the fiat currencies collapse. That's nonsense," Rajan said on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland. The wider crypto market shrank by $1.4 trillion in 2022 with bitcoin losing 60% of its value. One cause for worry, however, could be that labor markets were tight as nobody wanted to fire people, given how hard it was to hire them to begin with, he said. For daily Davos updates in your inbox sign up for the Reuters Daily Briefing here(Join GMF, a chat room hosted on Refinitiv Messenger: https://refini.tv/33uoFoQ)Reporting by Divya Chowdhury in Davos and Savio Shetty in Mumbai; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ India is set to become the world’s most populous country. Can it create enough jobs?
▼ + stars: | 2023-01-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

New Delhi CNN —India will overtake China this year to become the world’s most populous country. That’s because India is simply not creating employment opportunities for the millions of young job seekers already entering the workforce every year. A huge crowd thronged India Gate on New Year's Eve on December 31, 2022 in New Delhi, India. The country needs to create at least 90 million new non-farm jobs by 2030 to absorb new workers, according to a 2020 report by McKinsey Global Institute. But, according to a former central banker, even this growth is “insufficient.”“A lot of this growth is jobless growth.

☆ Davos 2023: The World Economic Forum explained
▼ + stars: | 2023-01-16 | by ( Siddharth K | ) www.reuters.com time to read: +4 min

DAVOS, Switzerland, Jan 16 (Reuters) - The World Economic Forum (WEF) returns to its snowy winter residency in the Swiss Alps this week with a record attendance of business and government leaders. The WEF's roots stretch back to 1971 when its founder Klaus Schwab invited executives from European companies to the then tiny ski resort of Davos, high in the Swiss Alps. With climate change top of the agenda, chiefs of major energy companies are back after a COVID-related hiatus. Others include IMF Managing Director Kristalina Georgieva, European Central Bank chief Christine Lagarde, NATO General Secretary Jens Stoltenberg, President of the European Commission Ursula von der Leyen and Chinese Vice-Premier Liu He. Climate change topped the WEF's survey of global risk and energy company executives will mix with climate activists and environment ministers at the forum.

☆ VMware ranked #2 software company on the "Just 100" list
▼ + stars: | 2023-01-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVMware ranked #2 software company on the "Just 100" listRaghu Raghuram, VMware CEO, breaks down software company and ranking on "Just 100" list.

☆ Roughly 25% of our customers use multi-cloud and data centers, says VMware CEO
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoughly 25% of our customers use multi-cloud and data centers, says VMware CEORaghu Raghuram, VMware CEO, joins 'TechCheck' to discuss how he's seeing a customer demand shift, the tradeoffs and benefits of the multi-cloud model and more.

☆ VMware's $8 million SEC settlement over 'misleading' revenue statements is another reason for doubt, employees and analysts say
▼ + stars: | 2022-09-14 | by ( Jessica Xing | ) www.businessinsider.com time to read: +5 min

Analysts say the allegations show VMware's lack of confidence in its big cloud subscription bet. The SEC claims the firm misled investors by — as early as 2019 — purposely delaying customer deals on VMware's cloud subscription product. Yet, the SEC charge is another way VMware's leadership has mishandled communication, according to employees. "Employees are repeatedly being kept out of the loop," one employee tells Insider. Concerns over growthAnalysts say the SEC charge indicates that VMware's growth isn't as fast as it should be.

☆ Some VMware partners say they're optimistic about the $61 billion Broadcom buyout and see it as an opportunity to cozy up to customers who fear they'll get lost in the deal's fallout
▼ + stars: | 2022-09-01 | by ( Paayal Zaveri | Jessica Xing | Jacob E. Robbins | ) www.businessinsider.com time to read: +6 min

But some partners say they're optimistic and see an opportunity to cozy up to VMware customers. In fact, several VMware partners view the seismic buyout as an opportunity and hope to use it to their advantage. Even those who weren't as optimistic about Broadcom's takeover told Insider the 24-year-old company was in need of a shake-up. Why VMware partners are optimisticBefore the acquisition announcement, Broadcom told investors the firm was "totally focused on the priorities" of 600 top strategic accounts. "Broadcom is where good software goes to die," an employee from a VMware partner told Insider.

☆ Broadcom CEO makes surprise appearance at VMware's big conference amid customer and employee concerns about the $61 billion takeover deal
▼ + stars: | 2022-08-30 | by ( Paayal Zaveri | Jessica Xing | Jacob E. Robbins | ) www.businessinsider.com time to read: +4 min

VMware's conference for customers, employees, and partners kicked off this week in San Francisco. Broadcom CEO Hock Tan made a surprise appearance at VMware's big annual conference, VMware Explore, which kicked off this week in San Francisco. Prior to the acquisition announcement, Broadcom told investors the firm is "totally focused on the priorities" of 600 top strategic accounts. "What typically happens with acquisitions like this is that innovation stops," an IT professional for a smaller VMware customer in the oil industry told Insider at the conference. Several smaller customers told Insider they're worried that when the buyout closed, they may be forced to switch to bigger vendors like Microsoft, despite preferring VMware services.

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