The growth map of the global economy is relatively clear. The US is in a partial recovery, with growth at 1.5-2% and lagging employment. Europe as a whole is barely above zero growth, with large variations among countries, though with some evidence of painful re-convergence, at least in terms of nominal unit labor costs. China’s growth, meanwhile, is leveling off at 7%, with other developing countries preparing for higher interest rates.
With J.P. Morgan setting aside $23 billion to cover legal fees and fines, the incentives being provided to future big bank management boards to get their act together just keep on growing. One can debate whether the cost of punitive actions has yet reached a sufficient level of severity - but it is undeniable that the scale of fines being imposed is heading in the right direction.
Each week QFINANCE.com brings you five things to look out for in the week ahead (November 18-22, 2013). Essential news that will shape the week and help you keep ahead in the world of business and finance.
History is full of people and institutions that rose to positions of supremacy only to come crashing down. In most cases, hubris – a sense of invincibility fed by uncontested power – was their undoing. In other cases, however, both the rise and the fall stemmed more from the unwarranted expectations of those around them.
Each week QFINANCE.com brings you some of the biggest news stories from the past five days (8-14 November) in finance and business – essential reading to keep you up to date with the latest topics.
On 8 November, the Philippines was hit by Super Typhoon Haiyan with winds gusting to a fraction under 200 miles per hour (320 kilometers). The Asian Development Bank puts losses to the Philippines' economy from storm and earthquake damage at an average of US$1.6 billion annually - an astronomical figure for any economy to have to absorb.
Insightful facts about last week and five things investors learned.
The EU - whose most powerful members manifestly do not want to extend EU membership to Turkey - is once again going through the ritual of reconsidering the country's application for membership. There are huge pluses and glaring minuses involved in any future Turkish membership; this dance still has a long way to run, it seems.
I am one of the winners of this year’s Nobel Memorial Prize in Economic Sciences, which makes me acutely aware of criticism of the prize by those who claim that economics – unlike chemistry, physics, or medicine, for which Nobel Prizes are also awarded – is not a science. Are they right?
Each week QFINANCE.com brings you some of the biggest news stories from the past seven days (1 - 7 November) in finance and business – essential reading to keep you up to date with the latest topics.