Archiv: economy


18.01.2019 - 14:41 [ theNation.com ]

Why No Deal Is the Real Deal: Brexit and the Politics of the Interregnum

State aid is not permitted and nationalization is all but impossible under the rigorous competition law enshrined in the Lisbon Treaty of 2007. Sixteen of Labour’s core manifesto commitments would be illegal under EU Law. Labour campaigned in 2017 as if Britain was already out of the EU—and did far better than expected. Some commentators even filed the Labour Party under the dreaded heading of “populism.” The truth is that the EU makes democratic politics very difficult.

26.12.2018 - 18:11 [ Telegraph.co.uk ]

Is the era of central bank independence over?

The fortress walls of the Bank of England project an image of solidity, stability and impregnability. It matches the reputation it has tried to build over more than 400 years for sober analysis and, in recent years, steady impartiality.

Yet its defences have been infiltrated.

26.12.2018 - 18:07 [ CNBC.com ]

Trump advisor says Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin’s jobs are safe

President Donald Trump’s economic advisor Kevin Hassett said Wednesday that Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin’s jobs are not under threat.
Hassett told an NBC News reporter at the White House that Powell’s role as the leader of the U.S. central bank is completely safe.
That assurance followed Hassett’s appearance on Fox Business, where the head of Trump’s Council of Economic Advisors said he is highly confident that the president is happy with Mnuchin.

26.12.2018 - 18:00 [ CNBC.com ]

Treasury Secretary Mnuchin moves to quell firestorm, says Trump never suggested firing Fed Chairman Powell despite ‚absolute terrible‘ policy

(22.12.2018) President Donald Trump is opposed to the Federal Reserve’s rate hike campaign, but has never suggested firing Fed Chairman Jerome Powell, Treasury Secretary Steven Mnuchin said on Saturday.
„I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so,” Mnuchin said via Twitter.

25.12.2018 - 12:12 [ Marketplace.org ]

Can Trump fire Fed Chair Jerome Powell?

Adriene Hill: So there were reports over the weekend that Trump has asked his advisers if he can remove Powell. And I want to start with just that big picture question here: Can he?

Binyamin Appelbaum: It’s a really big and open question at the moment. The law says that he can only remove a member of the Fed’s Board of Governors “for cause.”

25.12.2018 - 11:58 [ CNBC.com ]

The Fed thinks economic growth will slow as Trump’s 2020 re-election bid approaches

The Federal Reserve sees economic growth slowing next year.
Amid concerns about weakening GDP growth, President Donald Trump cannot afford losing that selling point ahead of his 2020 re-election bid.

25.12.2018 - 11:22 [ CNBC.com ]

Cramer: Fed chief Jerome Powell is Trump’s worst re-election nightmare

(20.12.2018) „If I were running Trump’s re-election campaign, Jay Powell would be my worst nightmare,“ CNBC’s Jim Cramer says.
Cramer argues the president is right to worry about a possible recession in 2019 as a result of the Powell’s rate hikes.

25.12.2018 - 11:17 [ PBS.org ]

How the economy could become Trump’s biggest re-election threat

(18.12.2018) The greatest threat to President Donald Trump’s re-election bid may not be the slew of investigations closing in on his Oval Office but a possible economic slowdown. And the president knows it.

The Dow Jones Industrial Average fell again Monday, the latest dip in the roller coaster markets amid the strain of Trump’s trade war, rising interest rates and worries about a slowing global economy.

22.12.2018 - 16:51 [ Jennifer Jacobs, White House reporter for Bloomberg News / Twitter ]

Scoop: Trump has talked about firing Jerome Powell, a move that would represent an unprecedented challenge to Federal Reserve’s independence. Advisers hope latest bout of anger will dissipate over holidays. Story by me, @SalehaMohsin, @margarettalev.

04.12.2018 - 12:13 [ Bloomberg.com ]

Carney Defends BOE’s Publication of Worst-Case Brexit Analysis

The BOE’s scenarios were more extreme than the government’s, and prompted criticism from some lawmakers, who accused Carney of undermining the BOE’s credibility.

04.12.2018 - 12:09 [ parliamentlive.tv ]

Treasury Committee: Tuesday 4 December 2018

09:15:02
Witnesses: Dr Mark Carney, Governor, Bank of England, Ben Broadbent, Deputy Governor for Monetary Policy, Bank of England, Sir Jon Cunliffe, Deputy Governor for Financial Stability, Bank of England, and Sam Woods, Deputy Governor for Prudential Regulation, Bank of England and Chief Executive Officer, Prudential Regulation Authority

09:15:01
Subject: The UK’s economic relationship with the European Union

25.11.2018 - 15:55 [ Telegraph.co.uk ]

UK companies open arms to China trade

(14.11.2018) Companies in the United Kingdom have embraced the inaugural China International Import Expo in an effort to hedge against uncertainties as the country prepares to leave the European Union, industry insiders say

Major British brands already established in China – such as Jaguar Land Rover, Bentley, British Airways and Standard Chartered – have taken the lead alongside small and medium-sized enterprises looking to test the waters in China for the first time.

24.11.2018 - 11:10 [ Artists for Brexit ]

Artists for Brexit bring you a fascinating commentary on the cultural and economic loss suffered as a result of our drift from the Commonwealth. A remarkable piece by author and journalist, Peter Mason.

Other countries would die for the traditional links we have with the bloc of countries that constitutes the Commonwealth. We have the inside track, based on a historical relationship with its members that – notwithstanding the old tensions of empire – has generally remained friendly and cooperative. Economists have suggested that due to the ‘commonalities’ of language, law and business practice across Commonwealth countries, the costs of each country trading with the other is typically 10-15 per cent lower than when dealing with other nations. Increasingly it has become clear that we’ve been running with the wrong pack.

21.11.2018 - 10:58 [ Dominic Raab / Telegraph.co.uk ]

We must be willing to walk away with no deal – taking our £39bn with us

Last week, I resigned as Brexit Secretary because I could not in good conscience support the proposed deal between the UK and the EU. There is still time to stand up to the bullying tactics from Brussels. But we must change course, or the flame of optimism and opportunity that sparked Brexit will be snuffed out.

21.11.2018 - 10:36 [ Jeremy Corbyn / Mirror.co.uk ]

Jeremy Corbyn: Theresa May has finally united the country on Brexit – everyone dislikes her deal

(19.11.2018) While claiming to take back control, the Government’s “backstop” risks locking Britain into an indefinite halfway house it cannot leave without the agreement of the EU.

This is an unparalleled and unacceptable loss of sovereignty, which Labour will not accept on behalf of our country.

21.11.2018 - 10:27 [ Washington Post ]

Bank of England preparing Brexit deal verdict next week

Bank of England Governor Mark Carney gave a guarded welcome to Prime Minister Theresa May’s Brexit deal as he confirmed the bank would deliver its verdict on the agreement next week.

Addressing lawmakers Tuesday, Carney said the withdrawal agreement would eliminate some of the uncertainty that has surrounded the British economy since the country voted to leave the EU in June 2016. It would provide businesses the platform to plan and invest.

21.11.2018 - 10:19 [ Express.co.uk ]

Bank of England boss BACKS Theresa May’s Brexit deal, warns no deal would ‚SHOCK‘ economy

The Bank of England governor spoke to MPs on the Treasury Select Committee about the importance of there being a transition period for the UK’s divorce for the EU. Mr Carney warned that if there is no deal, then it could greatly harm the economy with the bank being unable to do much to rectify the damage. He told the committee:

17.11.2018 - 14:38 [ Nuddering ‏/ Twitter ]

Jeremy Corbyn in 2010: „They-the world’s bankers, the IMF, the European Union – are utterly united in what they want: deflation, suppressing the economy & creating unemployment“

How’s that anti-Brexit saviour moment going then @davidschneider ?

22.10.2018 - 10:04 [ GlobalTimes.cn ]

China-India cooperation can be global yardstick

China-India cooperation is also in line with each nation’s international strategy. The change in the international landscape has motivated developing countries to engage in multilateral cooperation and seek more say when it comes to protecting their own interests. China and India are both in favor of free trade. Down the road, they will need better coordination and more support from each other on issues such as the multilateral trade system and WTO reform.

21.10.2018 - 14:52 [ New York Times ]

In Ireland, a Picture of the High Cost of Austerity

(28.6.2010) Rather than being rewarded for its actions, though, Ireland is being penalized. Its downturn has certainly been sharper than if the government had spent more to keep people working. Lacking stimulus money, the Irish economy shrank 7.1 percent last year and remains in recession.

Joblessness in this country of 4.5 million is above 13 percent, and the ranks of the long-term unemployed — those out of work for a year or more — have more than doubled, to 5.3 percent.

Now, the Irish are being warned of more pain to come.

29.09.2018 - 11:22 [ Times ]

At Labour conference socialism is no longer a dirty word

Last year’s election proved the Labour leadership right about a national hunger for left-leaning economic policies. After a lost decade of stagnating wages, job insecurity and spiralling costs following the economic crash and austerity cuts, poll after poll is showing overwhelming public support for Labour’s economic plans of renationalisation of rail and utilities, investment in infrastructure and higher tax on the highest earners.

29.09.2018 - 11:06 [ Labour.org.uk ]

We’re Rebuilding Britain

We have a plan to rebuild Britain.

Rebuilding industry. Rebuilding opportunity for workers. Rebuilding our communities. Rebuilding our economy. Rebuilding our public services. Rebuilding for people, not for profit. Rebuilding for families, not for investors.

09.09.2018 - 11:53 [ Arirang News / Youtube ]

No ICBMs displayed at military parade celebrating N. Korea’s 70th birthday

Instead,… this year’s celebrations focused on the the regime’s economy. Civilians paraded across the square with floats displaying messages about socialism. And although there was no speech from the North Korean leader himself,… the ceremonial head of state, Kim Yong-nam , addressed the public with a softer tone,… emphasizing the regime’s initiatives for economic reform. Experts say that as long as the momentum for dialogue continues,… North Korea will hold back on its nuclear ambitions, and concentrate more on its economic growth and improving the lives of its people. Park Hee-jun, Arirang News.

06.08.2018 - 21:16 [ Präsident der Islamischen Republik Iran ]

President in a live televised interview:

Claim of willingness for talks not enough; honesty the key/Talks concurrent with sanctions meaningless/Sanctions targeting Iranian children, people/If US administration ready, we’re ready to negotiate to receive their debts to Iranians since 1953

04.08.2018 - 16:48 [ eurasiafuture.com ]

Turkey Officially Turns to China For a Long Term Economic Partnership

Turkey’s President Recep Tayyip Erdogan has spoken about the primary objectives during the first 100 days of his new administration. Speaking of western financial speculation against the Turkish Lira, Erdogan reiterated that the country is “facing an economic war, but we will win it”.

27.07.2018 - 11:16 [ Haaretz / googleusercontent.com ]

Steve Bannon Tells Haaretz Why the Russians Aren’t the Bad Guys and Why He Can’t Be an anti-Semite

Bannon seems to have discovered something that for members of the American intelligentsia is not only strange, but practically incomprehensible: Racism is not an issue that interests the majority of Americans. The economy, not racism, was the issue of the election. What truly interests Americans is not the Mexicanness of illegal migrants, but the illegality of so much Mexican migration. “The Democrats,” Bannon told an infuriated Robert Kuttner at The American Prospect a few days before he was sacked from the White House, “the longer they talk about identity politics, I got ’em. I want them to talk about racism every day. If the left is focused on race and identity, and we go with economic nationalism, we can crush the Democrats.”

12.06.2018 - 14:03 [ Bloomberg ]

These Maps Show How to Unlock North Korea’s Economy

(3.6.2018) That would pave the way to tap the North’s vast mineral reserves, which could be worth $6 trillion, according to a 2013 estimate by the North Korea Resources Institute in Seoul. It’s also home to what might be the world’s single-biggest rare earth deposit, a crucial element for electronic car engines and many high-tech gadgets the South is so good at churning out.

11.06.2018 - 13:17 [ Economic Times ]

Peaceful North Korea can expand India’s Act East markets: Observers

„India has stepped up its focus on East Asia as well as ASEAN and any addition of an emerging market like North Korea will be most beneficial for the country’s expanding export-oriented industries,“ said a trade source.

India’s Act East Policy, that was introduced by the Modi government, focusses on the extended neighbourhood in the Asia-Pacific region.

31.05.2018 - 19:03 [ Yonhap ]

Moon voices need to support inter-Korean cooperation following denuclearization

He especially called for efforts to make sure the benefits of growth are broadly shared.

„Still, there are many areas where we came too short to say the people’s lives are improving,“ Moon said, noting the average income of households in the lower 20 percent bracket has in fact decreased despite the 3.7 percent increase in the average income of all households in the first quarter.

18.05.2018 - 11:45 [ GlobalTimes.cn ]

China supports India’s economic overture toward NK’s reform, opening-up

The Indian Minister of State for External Affairs Gen VK Singh made a surprise trip to North Korea earlier this week as India sought to revive its ties with the isolated country. The visit sent a good signal for the Asian economy.

Singh was the first Indian minister received by the North Korean government in the country in nearly two decades, which added to evidence that Pyongyang will be willing to seek better ties with the international community.

05.05.2018 - 13:35 [ Global Times ]

Real estate prices rise at China-North Korea border city

On the website of real estate agency jiwu.com, an article outlined a popular rumor that as North Korea reforms its economy Dandong might turn into another Shenzhen, the Chinese mainland boom city near Hong Kong. The article encouraged people to buy property while prices are low.

The volume of property deals is also reportedly increasing.

22.04.2018 - 09:49 [ Yonhap ]

North Korean leader shifts policy focus to economy

The measures could mark Kim’s strategic course correction after incremental global sanctions have crippled his country’s economy, eroded public support and loyalty from the elites, and fueled diplomatic friction with China, its key economic patron.

The announcement came ahead of Kim’s summits with South Korean President Moon Jae-in on April 27 and United States President Donald Trump in May or early June.