Tuesday, 31 October 2023
Gold Prices Jump since Start of Israel-Gaza War – BBC News
Monday, 30 October 2023
World Bank Warns Oil Price Could Soar to Record $150 a Barrel
GUARDIAN US: Escalation of Israel-Hamas war into Middle East-wide conflict would disrupt oil supplies and stoke food prices, says Bank
Oil prices could soar to a record high of more than $150 a barrel if the war between Israel and Hamas leads to a repeat of the full-scale conflict in the Middle East witnessed 50 years ago, the World Bank has warned.
In the first major assessment of the economic risks of an escalation of the war beyond Gaza’s borders, the World Bank said there was a risk of the cost of crude entering “uncharted waters”.
A “large disruption” scenario comparable with the Arab oil boycott of the west in 1973 would create supply shortages that would lead to the price of a barrel of oil increasing from about $90 to between $140 and 157. The previous record – unadjusted for inflation – was $147 a barrel in 2008.
“The latest conflict in the Middle East comes on the heels of the biggest shock to commodity markets since the 1970s – Russia’s war with Ukraine,” said Indermit Gill, the World Bank’s chief economist. “That had disruptive effects on the global economy that persist to this day. » | Larry Elliott, Economics editor | Monday, October 30, 2023
Oil prices could soar to a record high of more than $150 a barrel if the war between Israel and Hamas leads to a repeat of the full-scale conflict in the Middle East witnessed 50 years ago, the World Bank has warned.
In the first major assessment of the economic risks of an escalation of the war beyond Gaza’s borders, the World Bank said there was a risk of the cost of crude entering “uncharted waters”.
A “large disruption” scenario comparable with the Arab oil boycott of the west in 1973 would create supply shortages that would lead to the price of a barrel of oil increasing from about $90 to between $140 and 157. The previous record – unadjusted for inflation – was $147 a barrel in 2008.
“The latest conflict in the Middle East comes on the heels of the biggest shock to commodity markets since the 1970s – Russia’s war with Ukraine,” said Indermit Gill, the World Bank’s chief economist. “That had disruptive effects on the global economy that persist to this day. » | Larry Elliott, Economics editor | Monday, October 30, 2023
Saturday, 28 October 2023
Russia Raises Interest Rate to 15% after Steep Climb in Inflation
GUARDIAN EUROPE: Two-point rate rise surprises analysts as central bank blames 6.6% inflation on consumer demand
Russia’s central bank has increased interest rates by more than expected, to 15%, after a steep rise in inflation.
The bank blamed the war-torn economy’s limited capacity to respond to an increase in consumer demand for the rise in inflation to 6.6% in October, from 6% in the previous month.
Even with the increase in borrowing costs, inflation is expected to carry on climbing to 7.5% by the end of the year, the central bank said, before falling back to 4% next year. » | Phillip Inman | Friday, October 27, 2023
Russia’s central bank has increased interest rates by more than expected, to 15%, after a steep rise in inflation.
The bank blamed the war-torn economy’s limited capacity to respond to an increase in consumer demand for the rise in inflation to 6.6% in October, from 6% in the previous month.
Even with the increase in borrowing costs, inflation is expected to carry on climbing to 7.5% by the end of the year, the central bank said, before falling back to 4% next year. » | Phillip Inman | Friday, October 27, 2023
The Rise of Poverty in Europe | Documentary
Oct 18, 2023 | The Rise of Poverty in Europe | ENDEVR Documentary from 2017
119 million people in Europe live under the breadline today. How could this happen? The reality of deprived children, unemployed young adults, and indigent workers spreads all around the Union. What does Europe do for them? Visiting young unemployed people in Ireland, Italy and Portugal, this film investigates beyond the social and economic aspects and outlines how this situation impacts the politics.
ENDEVR explains the world we live in through high-class documentaries, special investigations, explainers videos and animations. We cover topics related to business, economics, geopolitics, social issues and everything in between that we think are interesting.
119 million people in Europe live under the breadline today. How could this happen? The reality of deprived children, unemployed young adults, and indigent workers spreads all around the Union. What does Europe do for them? Visiting young unemployed people in Ireland, Italy and Portugal, this film investigates beyond the social and economic aspects and outlines how this situation impacts the politics.
ENDEVR explains the world we live in through high-class documentaries, special investigations, explainers videos and animations. We cover topics related to business, economics, geopolitics, social issues and everything in between that we think are interesting.
Friday, 20 October 2023
Is Argentina on the Brink of a Radical Economic Overhaul? | DW News
Javier Milei, a ‘Mini-Trump,’ Could Be Argentina’s Next President: The global far-right movement faces an important test in Argentina’s election on Sunday. »
Handelsgespräche zwischen der EU und den USA geplatzt
FRANKFURTER ALLGEMEINE ZEITUNG: Brüssel und Washington können sich nicht auf ein dauerhaftes Ende der Stahlzölle einigen. Auch ein besserer Zugang zu den Milliardenhilfen des Inflation Reduction Act bleibt der EU verwehrt. Präsident Biden habe zu hohe Forderungen gestellt, klagt Brüssel.
Schlechter hätte der EU-US-Gipfel in Washington aus wirtschaftlicher Sicht kaum laufen können. Die Verhandlungen über die erhoffte dauerhafte Aussetzung der amerikanischen Schutzzölle auf Stahl und Aluminium sind vorerst gescheitert. Ebenso wenig wird die EU nach Informationen der F.A.Z. wahrscheinlich schnell einen breiteren Zugang zu den Milliardensubventionen aus dem US-Förderpaket für grüne Technologien, dem Inflation Reduction Act, bekommen. Die Amerikaner hätten an der angestrebten Einigung offenkundig kein Interesse gehabt, hieß es aus Verhandlungskreisen schon vor dem offiziellen Beginn des Gipfels. Mehr als eine Erklärung, dass beide Seiten eine Einigung anstreben, aber noch mehr Zeit dafür brauchen, sei deshalb „nicht drin“ gewesen. » | Von Hendrick Kafsack | Freitag, 20. Oktober 2023
Friday, 13 October 2023
JP Morgan CEO Warns World May Be Facing ‘Most Dangerous Time’ in Decades
THE GUARDIAN: Jamie Dimon says Israel-Gaza conflict may have ‘far-reaching impacts’ on energy prices, food costs and international trade
The JP Morgan boss, Jamie Dimon, has warned the world may be living through “the most dangerous time the world has seen in decades” as Israel prepares to launch an expected ground offensive on Gaza.
The escalating conflict could have “far-reaching impacts” on energy prices, food costs, international trade and diplomatic ties, he said as JPMorgan Chase, America’s largest bank, reported earnings for the latest quarter.
While the lender posted another robust set of results, Dimon cautioned that interest rates may increase further in the United States, as the savings of consumers dwindle.
Dimon said: “The war in Ukraine compounded by last week’s attacks on Israel may have far-reaching impacts on energy and food markets, global trade and geopolitical relationships. This may be the most dangerous time the world has seen in decades. » | Callum Jones in New York | Friday, October 13, 2023
The JP Morgan boss, Jamie Dimon, has warned the world may be living through “the most dangerous time the world has seen in decades” as Israel prepares to launch an expected ground offensive on Gaza.
The escalating conflict could have “far-reaching impacts” on energy prices, food costs, international trade and diplomatic ties, he said as JPMorgan Chase, America’s largest bank, reported earnings for the latest quarter.
While the lender posted another robust set of results, Dimon cautioned that interest rates may increase further in the United States, as the savings of consumers dwindle.
Dimon said: “The war in Ukraine compounded by last week’s attacks on Israel may have far-reaching impacts on energy and food markets, global trade and geopolitical relationships. This may be the most dangerous time the world has seen in decades. » | Callum Jones in New York | Friday, October 13, 2023
Wednesday, 11 October 2023
Sam Bankman-Fried's Ex-girlfriend Caroline Ellison Testifies against Him at Fraud Trial
Witness Testifies Sam Bankman-Fried Directed Her to Commit Fraud
Bankman-Fried’s ex-girlfriend to take stand again after day of dramatic testimony: Caroline Ellison said in her first day of testimony that she committed crimes at Bankman-Fried’s direction »
Tuesday, 10 October 2023
IMF Says UK Faces Five More Years of High Interest Rates
BBC: The UK faces another five years of high interest rates to stem rising prices, an influential global group has warned.
The International Monetary Fund expects the UK to have the highest inflation and slowest growth next year of any G7 economy including the US, France, Germany, Canada, Italy and Japan.
However, the Treasury said recent revisions to UK growth had not been factored in to the IMF's report.
The outlook was drawn up before this weekend's developments in Israel. » | Lucy Hooker & Faisal Islam, BBC News | Tuesday, October 10, 2023
The International Monetary Fund expects the UK to have the highest inflation and slowest growth next year of any G7 economy including the US, France, Germany, Canada, Italy and Japan.
However, the Treasury said recent revisions to UK growth had not been factored in to the IMF's report.
The outlook was drawn up before this weekend's developments in Israel. » | Lucy Hooker & Faisal Islam, BBC News | Tuesday, October 10, 2023
Monday, 9 October 2023
How Sam Bankman-Fried Fooled the Media, Silicon Valley and the World
Sam Bankman-Fried Trial Begins | Bloomberg Television
Wednesday, 4 October 2023
Too Late for Bankman-Fried to Get a Deal: Naftalis
'He Couldn't Let Go of It': Inside the Rise and Fall of Sam Bankman-Fried
Tuesday, 3 October 2023
US Wants UK to Open Up Its Agriculture Markets as Part of New Trade Deal
GUARDIAN INTERNATIONAL: Potentially wide-ranging agreement could be unachievable due to British objections to lower animal welfare standards
The US is pushing for Britain to open up its agricultural markets to US traders as part of a new economic agreement that would fall just short of a free trade agreement.
Washington and London have begun negotiations over a “foundational trade partnership”, which would cover subjects such as digital trade, labour protections and agriculture, according to documents seen by the Guardian and first revealed by Politico.
The partnership would not guarantee any particular levels of access for service providers to offer their products in each other’s countries, meaning it would fall short of the full free trade agreement that was promised by Brexit supporters after the leave vote.
The negotiations could run into trouble, especially over agriculture. Previous talks over a free trade agreement stalled in part because the UK refused to provide access to American food products such as chlorine-washed chicken or hormone-injected beef. » | Kiran Stacey, Political correspondent | Tuesday, October 3, 2023
The US is pushing for Britain to open up its agricultural markets to US traders as part of a new economic agreement that would fall just short of a free trade agreement.
Washington and London have begun negotiations over a “foundational trade partnership”, which would cover subjects such as digital trade, labour protections and agriculture, according to documents seen by the Guardian and first revealed by Politico.
The partnership would not guarantee any particular levels of access for service providers to offer their products in each other’s countries, meaning it would fall short of the full free trade agreement that was promised by Brexit supporters after the leave vote.
The negotiations could run into trouble, especially over agriculture. Previous talks over a free trade agreement stalled in part because the UK refused to provide access to American food products such as chlorine-washed chicken or hormone-injected beef. » | Kiran Stacey, Political correspondent | Tuesday, October 3, 2023
Elon Musk, Jeff Bezos Top the Forbes List of Richest Americans
Oct 3, 2023 | It’s a good year to be a member of The Forbes 400. As a group, the richest people in America are $500 billion richer than a year ago, aided by rebounding stock markets and an AI-driven tech boom. They now hold $4.5 trillion in wealth, tying a record set in 2021.
It takes $2.9 billion to make the cut, up from $2.7 billion a year ago, also tying for the highest ever. Forbes calculated net worths using stock prices from September 8, 2023.
Elon Musk again tops the list, worth an estimated $251 billion—the exact same as last year, despite a wild 12 months that included him being forced to buy Twitter for far more than it was worth, watching Tesla stock crater, getting into internet spats with the likes of the Ukrainian president Volodymyr Zelensky and the foreign minister of Taiwan, challenging Mark Zuckerberg to a cage fight—then adding tens of billions to his fortune as Tesla stock came roaring back. Musk is $90 billion wealthier than No. 2 Jeff Bezos and $93 billion ahead of No. 3 Larry Ellison, who added more dollars to his net worth than anyone in America over the past year, some $57 billion, largely thanks to the generative artificial intelligence craze helping push up shares of his software firm, Oracle.
It takes $2.9 billion to make the cut, up from $2.7 billion a year ago, also tying for the highest ever. Forbes calculated net worths using stock prices from September 8, 2023.
Elon Musk again tops the list, worth an estimated $251 billion—the exact same as last year, despite a wild 12 months that included him being forced to buy Twitter for far more than it was worth, watching Tesla stock crater, getting into internet spats with the likes of the Ukrainian president Volodymyr Zelensky and the foreign minister of Taiwan, challenging Mark Zuckerberg to a cage fight—then adding tens of billions to his fortune as Tesla stock came roaring back. Musk is $90 billion wealthier than No. 2 Jeff Bezos and $93 billion ahead of No. 3 Larry Ellison, who added more dollars to his net worth than anyone in America over the past year, some $57 billion, largely thanks to the generative artificial intelligence craze helping push up shares of his software firm, Oracle.
Sam Bankman-Fried's Fraud Trial Begins Today - Here's What It Means for the Future of Crypto
Oct 3, 2023 | This week, Sam Bankman-Fried, known as SBF, will stand trial in what federal prosecutors have called one of the biggest frauds in US history.
The 31-year-old former crypto superstar has pleaded not guilty to seven counts of fraud and conspiracy in connection with the collapse of FTX, his crypto-trading platform. If convicted and sentenced to the maximum punishment, he could spend the rest of his life in prison.
Forbes’ Director of Research for Digital Assets Steven Erich sat down with reporter Rosemarie Miller to talk about what SBF has been charged with, how big the fraud was and what it means for the future of cryptocurrency.
The 31-year-old former crypto superstar has pleaded not guilty to seven counts of fraud and conspiracy in connection with the collapse of FTX, his crypto-trading platform. If convicted and sentenced to the maximum punishment, he could spend the rest of his life in prison.
Forbes’ Director of Research for Digital Assets Steven Erich sat down with reporter Rosemarie Miller to talk about what SBF has been charged with, how big the fraud was and what it means for the future of cryptocurrency.
Die Thatcher-Jahre | Doku HD | ARTE
Jun 7, 2023 | Die Thatcher-Ära ist ein Meilenstein der Geschichte und gilt als Geburtsstunde unserer heutigen Gesellschafts- und Wirtschaftsordnung. Dennoch herrscht bei Weitem kein Konsens darüber, was Thatcherismus genau bedeutet – und zwar aus gutem Grund: Die drei von Margaret Thatcher geführten Regierungen setzten von 1979 bis 1990 erstmals die Konzepte des Neoliberalismus um.
Margaret Thatcher: eine polarisierende Person, die oft sehr undifferenziert wahrgenommen wird. Hinter ihrem übertriebenen Verhalten und ihren exzessiven Äußerungen verblasst der Kontext der damaligen Zeit. Übrig bleibt ein sehr vereinfachendes, nicht selten frauenfeindlich gefärbtes Bild: das einer unaufhaltsamen Dampfwalze, fest entschlossen, zum Erreichen ihrer Ziele alles plattzumachen, was sich ihr in den Weg stellt.
Dabei ist die Realität viel komplexer und chaotischer. Die Eiserne Lady hat nicht immer ihre neoliberalen Überzeugungen konsequent verfochten und entsprach auch nicht unbedingt dem Klischee der Frau aus dem Volk mit dem gesunden Menschenverstand. Gewiss hat sie das Vereinigte Königreich autoritär nach ihrem Bild umgestaltet, doch ein großer Teil dieses Bildes war ein Konstrukt, mit dem sie opportunistisch auf die politischen und kulturellen Verhältnisse ihrer Zeit reagierte.
Der Dokumentarfilm erörtert das Erbe der Eisernen Lady und lässt Mitarbeiter, politische Gegner, Zeitzeugen, Aktivisten und Historiker zu Wort kommen, deren Aussagen ein neues Licht auf diese Jahre des Wandels werfen: Waren Margaret Thatcher und die Neoliberalen wirklich so modern, so „neo“, als sie die progressiven, angeblich archaischen Ideen der Linken in den Orkus beförderten? Oder waren sie nicht vielmehr selbst zutiefst archaisch mit ihrer Rückkehr zum brutalen Liberalismus des 19. Jahrhunderts und seiner rigiden viktorianischen Moral, von PR-Leuten clever als modern verkauft? Margaret Thatcher war die Matrix des radikalen Konservatismus und verkörperte wie keine andere diesen unauflösbaren Widerspruch, der sich bis heute durch die Gesellschaft zieht.
Dokumentarfilm von Guillaume Podrovnik (F 2022, 92 Min)
Verfügbar bis zum 12/08/2023
Margaret Thatcher: eine polarisierende Person, die oft sehr undifferenziert wahrgenommen wird. Hinter ihrem übertriebenen Verhalten und ihren exzessiven Äußerungen verblasst der Kontext der damaligen Zeit. Übrig bleibt ein sehr vereinfachendes, nicht selten frauenfeindlich gefärbtes Bild: das einer unaufhaltsamen Dampfwalze, fest entschlossen, zum Erreichen ihrer Ziele alles plattzumachen, was sich ihr in den Weg stellt.
Dabei ist die Realität viel komplexer und chaotischer. Die Eiserne Lady hat nicht immer ihre neoliberalen Überzeugungen konsequent verfochten und entsprach auch nicht unbedingt dem Klischee der Frau aus dem Volk mit dem gesunden Menschenverstand. Gewiss hat sie das Vereinigte Königreich autoritär nach ihrem Bild umgestaltet, doch ein großer Teil dieses Bildes war ein Konstrukt, mit dem sie opportunistisch auf die politischen und kulturellen Verhältnisse ihrer Zeit reagierte.
Der Dokumentarfilm erörtert das Erbe der Eisernen Lady und lässt Mitarbeiter, politische Gegner, Zeitzeugen, Aktivisten und Historiker zu Wort kommen, deren Aussagen ein neues Licht auf diese Jahre des Wandels werfen: Waren Margaret Thatcher und die Neoliberalen wirklich so modern, so „neo“, als sie die progressiven, angeblich archaischen Ideen der Linken in den Orkus beförderten? Oder waren sie nicht vielmehr selbst zutiefst archaisch mit ihrer Rückkehr zum brutalen Liberalismus des 19. Jahrhunderts und seiner rigiden viktorianischen Moral, von PR-Leuten clever als modern verkauft? Margaret Thatcher war die Matrix des radikalen Konservatismus und verkörperte wie keine andere diesen unauflösbaren Widerspruch, der sich bis heute durch die Gesellschaft zieht.
Dokumentarfilm von Guillaume Podrovnik (F 2022, 92 Min)
Verfügbar bis zum 12/08/2023
Capitalism Is Over and ‘Social Democracy Is Finished’ | Yanis Varoufakis
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