Financial Measure – Amiya Sahu http://amiyasahu.com/ Fri, 14 Jan 2022 06:15:57 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://amiyasahu.com/wp-content/uploads/2021/06/icon-150x150.png Financial Measure – Amiya Sahu http://amiyasahu.com/ 32 32 Brussels ready to recoup Poland’s unpaid fines as rule of law gap widens https://amiyasahu.com/brussels-ready-to-recoup-polands-unpaid-fines-as-rule-of-law-gap-widens/ Fri, 14 Jan 2022 05:02:06 +0000 https://amiyasahu.com/brussels-ready-to-recoup-polands-unpaid-fines-as-rule-of-law-gap-widens/ Brussels is set to withhold more than 100 million euros from Poland to cover unpaid fines imposed by the EU’s highest court, the justice commissioner warned, as he responded to “waves” problems in the country’s legal system. Didier Reynders told the Financial Times on Thursday that the committee would soon send a letter to Warsaw […]]]>

Brussels is set to withhold more than 100 million euros from Poland to cover unpaid fines imposed by the EU’s highest court, the justice commissioner warned, as he responded to “waves” problems in the country’s legal system.

Didier Reynders told the Financial Times on Thursday that the committee would soon send a letter to Warsaw demanding the payment of 69 million euros in accumulated daily fines that Poland accumulated between early November and early this week.

If Warsaw does not comply within 60 days, the commission will withhold fines on EU payments due to Poland, with interest payable in addition, he said.

“We are busy with the five waves for Covid, and I don’t know how many waves on the rule of law in Poland,” Reynders said in an interview. “We keep trying to manage the waves one after the other.

Separately, the committee also prepared to withhold around € 50 million in fines linked to a separate legal dispute involving Poland and the Czech Republic.

Poland is in a long-standing confrontation with Brussels over measures taken by the ruling Conservative Nationalist Party to gain powers over its judicial system, including through a disciplinary chamber with the power to punish judges.

Warsaw was ordered last October to pay daily fines of 1 million euros for failing to comply with provisional measures imposed by the European Court of Justice asking it to suspend key aspects of the disciplinary regime.

The deadlock over judicial independence has soured relations between the commission and the fifth largest EU member state. He also delayed Brussels’ approval of Poland’s plan to spend € 36 billion on grants and loans from the bloc’s € 800 billion post-pandemic recovery plan.

EU officials have said Poland should abolish the disciplinary chamber, change its rules and reinstate dismissed judges as conditions to approve Warsaw’s request for pandemic recovery funding, but negotiations collapsed at the end of the l ‘last year.

Reynders said the letter requesting payment of € 69 million would arrive in “hours or days.” He added: “We have seen that there has been no implementation of the provisional measures, so we will ask [them] to pay.”

If Warsaw does not comply, the daily fines will continue to pile up, triggering new demands for payment from Brussels. A Polish official declined to comment.

Warsaw was also fined around € 50m after failing to comply with an ECJ ruling to suspend operations at a lignite mine, which has been the subject of complaints from the Czech Republic .

The Czech Environment Minister said on Thursday that a draft agreement drawn up in September was acceptable to her government. However, Polish media reported that the Polish government may request adjustments to the draft agreement.

Reynders noted some positive progress made in the rule of law by Poland, in particular regarding a modification of the judges’ pension system, but clarified that the general trend in the country was not encouraging.

“There are negative signals coming from Poland again and again,” Reynders said. He highlighted new disciplinary proceedings against a judge and a request by Zbigniew Ziobro, the Polish justice minister, who asked the country’s constitutional court to rule on a Brussels measure that allows the EU to suspend funding violations of the rule of law.

Regarding Ziobro’s recent threats to stop Polish payments to the EU budget due to the dispute, Reynders said: “The European Union pays Poland more than we get. So, in the end, it’s a very strange game.

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Delivery Hero wonders how to pass on rising passenger costs https://amiyasahu.com/delivery-hero-wonders-how-to-pass-on-rising-passenger-costs/ Wed, 12 Jan 2022 09:47:57 +0000 https://amiyasahu.com/delivery-hero-wonders-how-to-pass-on-rising-passenger-costs/ Customers ordering food deliveries may need to be more flexible about wait time if the costs of the concert economy continue to rise, said the head of German food delivery app Delivery Hero. . “If our rider costs [go] and customers are not willing to pay for it. . . this is by far the […]]]>

Customers ordering food deliveries may need to be more flexible about wait time if the costs of the concert economy continue to rise, said the head of German food delivery app Delivery Hero. .

“If our rider costs [go] and customers are not willing to pay for it. . . this is by far the biggest risk for the food delivery segment, ”managing director Niklas Östberg told the Financial Times.

“A lot of people aren’t willing to pay an extra 30 cents per order,” he added, but might be willing to wait 25 minutes to get their food, while others would pay a euro for their order. is delivered more quickly.

But the Swedish executive stressed that the group would only implement such a policy if rising costs eat away at its profit margins.

Östberg’s comments came after the Berlin-based group announced that its food delivery business would break even for the first time in the second half of the year, using its measure of adjusted profit before interest and taxes.

The company’s 10-year forecast comes more than a year after Uber Eats, also using an adjusted metric, said its restaurant delivery service had become profitable on a quarterly basis.

Delivery Hero, which operates in Asia, Europe, Latin America and the Middle East, has come under pressure from investors to reduce the amount spent on its rapid expansion. Last month, the company pulled out of Germany for the second time citing unsustainable costs.

Shares of the group, which is listed on the German Dax index, have fallen by more than a third in the past year, despite a foreclosure-induced order boom in several of its major markets.

A shortage of riders and increased competition during the pandemic lowered the profit margins of the industry as a whole and forced Delivery Hero to “spend hundreds of millions of dollars in rapid trade” in order to keep pace with new entrants such as Gorillas and Flink, Östberg mentioned.

Last year, the company, which spent $ 4 billion on South Korean Woowa, among other acquisitions, and also invested in Deliveroo, said it bought a controlling stake in Spanish rival Glovo, which operates in 25 country.

Once Glovo’s operations merged into its core food delivery business in the fourth quarter of the year, the unit would generate between zero and 100 million euros, Delivery Hero said on Tuesday. That point would have been reached sooner, said stberg, if Covid-19 hadn’t “forced us to double down” and spend more to beat our rivals.

The company, which has a long-term profitability target of between 5 and 8 percent, added that spending on its fast-trading business, which offers deliveries of groceries and household items, would be gradually reduced. from the second semester.

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New studies reveal unprecedented impact of supply chain disruption https://amiyasahu.com/new-studies-reveal-unprecedented-impact-of-supply-chain-disruption/ Sat, 08 Jan 2022 08:49:48 +0000 https://amiyasahu.com/new-studies-reveal-unprecedented-impact-of-supply-chain-disruption/ According to a report by the Federal Reserve Bank of St. Louis, international shipping costs have fluctuated much more sharply during the pandemic and amid recent supply chain disruptions than following the financial crisis there over ten years ago. The St. Louis Fed’s analysis seeks to measure the impact of the turbulence of the past […]]]>

According to a report by the Federal Reserve Bank of St. Louis, international shipping costs have fluctuated much more sharply during the pandemic and amid recent supply chain disruptions than following the financial crisis there over ten years ago.

The St. Louis Fed’s analysis seeks to measure the impact of the turbulence of the past two years on an increasingly critical part of the global economy.

Prices for sea freight from China to the US west coast hovered more than 72 percentage points, from a low at the start of the pandemic to a high in the third quarter of 2021 of more than 50 % above the long-term trend in container shipping rates, according to researchers from the Fed’s regional bank wrote in the report released this week.

This compares to a change of 41 percentage points in the aftermath of the recession triggered by the financial crisis of 2007-2008, when shipping prices peaked in 2010 at just over 14% above the downward trend. long term, according to the report, which used import data from the Department of Commerce’s Bureau of Economic Analysis and a freight rate index from a shipping service provider.

The St. Louis Fed’s analysis said that the forces of supply and demand have driven just over half of the rate hike since mid-2020, a period that has seen demand. shipping increase as retailers rushed to restock stocks that had been depleted during the pandemic. The report attributes the remainder to disruptions to shipping operations which have been disrupted by issues such as port congestion.

“During the Great Recession, prices didn’t react that much,” said Fernando Leibovici, economist with the Fed Bank of St. Louis, who co-wrote the report with research associate Jason Dunn. During the pandemic, he said, “there is certainly a role played by supply factors.

The report is one of the latest in a series of attempts by economic policymakers to assess the impact of tensions on the supply chain after nearly two years of turmoil during the pandemic, as issues ranging from commodity costs to base and availability of raw materials to transport costs have affected the global economy.

Economists at the Federal Reserve Bank of New York, writing on the bank’s Liberty Street Economics blog this week, developed a global supply chain pressure index bringing together a series of metrics “to provide a more comprehensive summary of potential disruptions affecting global supply chains. “

Their measurement, using data dating back to 1997, showed supply chain pressures swinging dramatically during the pandemic well beyond long-term trend lines and reaching a new high in October 2021. A setback from that peak the following month “seems to suggest that pressures on the global supply chain, while still historically high, have peaked and may start to moderate somewhat in the future,” said writes New York Fed economists.

Various measurements of the shipping industry show that shipping prices have climbed over the past year to record highs. The global price of shipping a 40-foot container has risen from around $ 1,400 at the start of the pandemic to over $ 11,000 in September, according to an index from shipping technology company Freightos.

Chris Rogers, senior supply chain economist at freight forwarder Flexport Inc., said the St. Louis Fed study shows that “we are firmly in uncharted territory when it comes to rate hikes. “

He said the main driver of the rate hike remains strong consumer demand for goods that overwhelms transportation networks. “If it was just a port closure here or there, or just a trucking shortage here or there, you wouldn’t have seen anything close to the kind of challenges or rate increases that we actually saw it, ”Mr. Rogers said. .

(Write to Lydia O’Neal at lydia.oneal@wsj.com)

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Unlistedkart Finfluencer Program – An Educational Campaign to Empower Investors and Financial Influencers https://amiyasahu.com/unlistedkart-finfluencer-program-an-educational-campaign-to-empower-investors-and-financial-influencers/ Fri, 07 Jan 2022 05:18:00 +0000 https://amiyasahu.com/unlistedkart-finfluencer-program-an-educational-campaign-to-empower-investors-and-financial-influencers/ ANI | Update: 07 Jan 2022 10:48 AM STI Bangalore (Karnataka) [India], Jan. 7 (ANI / PRNewswire): India’s private equity industry has grown tremendously in recent years. In 2020 alone, private equity investments increased 38% to a record high of $ 62.2 billion, reported by Reuters. And all this amid the glaring uncertainties projected by […]]]>



ANI |
Update:
07 Jan 2022 10:48 AM STI

Bangalore (Karnataka) [India], Jan. 7 (ANI / PRNewswire): India’s private equity industry has grown tremendously in recent years. In 2020 alone, private equity investments increased 38% to a record high of $ 62.2 billion, reported by Reuters. And all this amid the glaring uncertainties projected by the pandemic. The pre-IPO market has experienced significant maturation.
Unlistedkart was among the forerunners of this growth when it comes to investments in unlisted stocks. With more than $ 15 million in sales in 2021, the company has a considerable leadership position in the market. And the recent launch of the Unlistedkart Finfluencer program is proof of this.
The program aims to create an exclusive community for financial influencers that aims to raise awareness of the unlisted market and the associated risks and rewards to the investment community. And all this while allowing influencers to educate their audience.
The program invites other financial influencers to join the Unlistedkart community in its efforts to raise awareness of investment opportunities, especially in areas that are traditionally seen as unconventional.

“We have witnessed firsthand how disruptive alternative investments can be. And we want to allow more people with unique skills to join our journey. So our Finfluencer program aims to create fertile ground for like-minded people to thrive. It is an invitation to entrepreneurs, bloggers, journalists, artists, social media influencers and all those who have influence on their respective audiences in the field of finance ”, said Krishna Raghavan, CEO by Unlistedkart.
The goal of the Finfluencer program is to educate everyday investors about the wealth creation opportunities that exist in the private equity space. With a thriving Finfluencer community positioned around knowledge sharing, it’s easy to see what influencers can get out of it – exclusive coverage as a valued Unlistedkart partner.
Such a program that empowers influencers and everyday investors is a step in the right direction. “As the hype around these increases, it becomes our fundamental responsibility to educate investors about the acceptable risks of investing in high yield instruments – such as credit risk, market risk and risk risk. liquidity. At the script level, an investor should be able to understand fundamentals, try to measure standard deviation, and much more. We intend to further empower investors to make the right choices, ” Krishna Raghavan added.
For starters, Unlistedkart plans to add around 20 Exclusive Influencers as part of this program and will provide extensive coverage. The Unlistedkart Finfluencer community should be a go-to resource for retail investors looking to diversify their portfolios with acceptable risk exposure and better returns, a privilege that was traditionally only available to HNIs and investment institutions.
This story is provided by PRNewswire. ANI will not be responsible for the content of this article in any way. (ANI / PRNewswire)


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Biden faces multiple crises in pivotal year for presidency https://amiyasahu.com/biden-faces-multiple-crises-in-pivotal-year-for-presidency/ Wed, 05 Jan 2022 05:01:22 +0000 https://amiyasahu.com/biden-faces-multiple-crises-in-pivotal-year-for-presidency/ Joe Biden returned to Washington this week with a snowstorm crippling the US capital, a fitting backdrop for a president starting the new year struggling with multiple crises ranging from a surge in coronavirus infections to an economic agenda stalled and growing tensions with Russia. The Omicron variant, which has resulted in a record number […]]]>

Joe Biden returned to Washington this week with a snowstorm crippling the US capital, a fitting backdrop for a president starting the new year struggling with multiple crises ranging from a surge in coronavirus infections to an economic agenda stalled and growing tensions with Russia.

The Omicron variant, which has resulted in a record number of daily infections, immediately put the Biden administration on the defensive, especially in the face of crippling test shortages and confusion surrounding its decision to cut the time people spend in half. asymptomatic should isolate, from 10 days to five.

On Tuesday, Biden was forced to once again warn of difficult times ahead. It was a moment of humility for a president who took office almost a year ago with high hopes of crushing the virus, and who was elected largely for his promise to handle the pandemic with more. of competence than its predecessor.

“Friends, I know we are all tired and frustrated with the pandemic. The next few weeks are going to be difficult, ”he said in a speech at the White House. “We’re going to get over this. We’re gonna get out of this together. ”

The resurgence of the pandemic came just as Biden’s poll numbers were starting to recover from a steep drop, which began in August around the time of the botched pullout from Afghanistan and continued throughout. of the second half of 2021.

Economically, a strong rebound was hampered by high inflation and supply chain disruptions, which clouded the improving labor market and sustained stock prices while affecting voters’ perceptions of the management of the economy by Biden.

Meanwhile, the White House suffered a big setback last month when Joe Manchin, a key Democratic senator from West Virginia, withdrew from negotiations to advance Biden’s flagship spending bill of $ 1.75 billion. “Build Back Better” dollars.

Manchin made it clear on Tuesday that he saw little chance of relaunching talks on the legislation, telling reporters there had been “no conversations” since announcing his opposition to the plan. “I feel as strong today as I did then,” he added.

James Lucier, an analyst at Capital Alpha Partners, said he believed there was still a chance Democrats could pass a roughly $ 1.5 billion spending bill, but warned: “Every week that goes by without a deal makes it harder and harder to see. what is happening.

At the same time, Biden’s foreign policy agenda has been dominated by the possibility of Russian President Vladimir Putin invading Ukraine, testing alliances with Europe and the administration’s commitment to counter authoritarian aggression.

Each of these difficulties threatens to make it harder for Biden and the Congressional Democrats to prevent Republicans from gaining control of Congress in the November midterm election, a scenario that would severely limit the president’s legislative ambitions in years to come. remaining from its mandate.

“Biden’s most important job is to show why America went from electing the president with the fewest years of government experience to the one with the most,” said Ben Koltun, analyst at Beacon Policy. Advisors, a consulting firm in Washington.

Koltun said Biden must strike “a deal with Senator Joe Manchin on Build Back Better”, put “America in a strong position to deal with Russia” and provide “some semblance of strategy on Omicron and inflation. “.

He added: “Otherwise, this is a narrative that Biden is not leading, but is being led by Manchin, Russia and Omicron.”

With talks over Biden’s economic plans stalled, Democratic leaders in Congress have turned their attention to legislation to protect voting rights – an attempt to counter Republican measures in many states to restrict access at the polls.

The push coincides with the Jan.6 anniversary of last year’s deadly attack on the United States Capitol by a crowd supporting former President Donald Trump. Biden is expected to speak on the U.S. Capitol Thursday on the anniversary of the assault.

But securing the passage of the voting rights legislation may well be an unsuccessful mission: Republicans relentlessly oppose it, while moderate Democrats such as Manchin and Kyrsten Sinema, the Arizona senator, are reluctant to change. the rules of the Senate so that the measure can be passed by a simple majority of votes.

While some Democratic strategists and lawmakers say it is important to push forward legislation to energize the party base, others warn that pushing for a potentially failed bill could be politically counterproductive.

“What Democrats really need right now is not some sort of short-term ‘supercharged’ campaign that raises expectations they probably can’t meet,” wrote Ed Kilgore, a Democratic political analyst. seasoned, in a New York magazine column this week.

He added: “They need a way to make it clear that they – and this country – are in an ongoing battle between two very different concepts of America’s future, one in which disengagement or disappointment of Democratic voters will guarantee defeat. “

But the White House is still trying to focus on kitchen table issues. On Monday, Biden touted his administration’s plans to bring inflation under control, especially meat prices. And on Friday, he is expected to address the December jobs report, which could give a final snapshot of the labor market recovery before the economy is hit by Omicron.

Andrew Bishop, global head of policy research at Signum, a Washington consulting firm, said Biden might be “less doomed” than his current endorsement notes suggest. Signum points out that he still has higher marks than Trump, and that the decline was less steep than that experienced by Barack Obama during his first year in office.

“By being more generally acceptable to centrist voters than some of his predecessors, Biden could arguably have the potential to regain independent support more quickly,” Bishop said.


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Poll: 2 in 3 see no financial boost in 2022 https://amiyasahu.com/poll-2-in-3-see-no-financial-boost-in-2022/ Sat, 01 Jan 2022 14:02:35 +0000 https://amiyasahu.com/poll-2-in-3-see-no-financial-boost-in-2022/ Two-thirds of U.S. consumers don’t expect their personal finances to improve in 2022, with just over half of that group citing inflation as a barrier to better financial health, according to the Financial Security Index of Bankrate December. Inflation jumped 6.8% in November 2021, putting it at an all-time high of 39 years as food, […]]]>

Two-thirds of U.S. consumers don’t expect their personal finances to improve in 2022, with just over half of that group citing inflation as a barrier to better financial health, according to the Financial Security Index of Bankrate December. Inflation jumped 6.8% in November 2021, putting it at an all-time high of 39 years as food, housing and energy prices soared.

“Inflation concerns have lowered consumer confidence to its lowest level in a decade and is the number one reason Americans don’t expect their finances to improve, especially to improve. deteriorate, “said Greg McBride, chief financial analyst at Bankrate. “This sentiment goes far beyond gas prices, as inflation has spread and consumers are seeing higher prices at every turn.”

Other main reasons cited by those who do not expect financial improvement in 2022 include the ongoing COVID-19 pandemic, stagnant or falling wages, personal debt and changing interest rates. . Of the one-third of respondents to the personal finance survey who expect their financial situation to improve in the coming year, 46% attribute their optimism to making more money at work and 36% to having less debt.

  • COVID-19 Still Seen As A Financial Barrier In 2022

The current COVID-19 pandemic is one of the main reasons people expect their personal finances not to improve in 2022, according to the survey, which was conducted after the emergence of the omicron variant. As the country is on the verge of entering the third year of the pandemic, rising prices and supply chain issues are areas of concern, and some people continue to postpone financial milestones as a result.

The omicron variant may spread more easily than other variants, and the effectiveness of vaccines against these new variants remains to be determined, the CDC reports. It also remains to be seen to what extent the omicron will affect the economy, experts say.


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Navajo Nation Council approves more hardship aid payments https://amiyasahu.com/navajo-nation-council-approves-more-hardship-aid-payments/ Thu, 30 Dec 2021 21:30:32 +0000 https://amiyasahu.com/navajo-nation-council-approves-more-hardship-aid-payments/ FARMINGTON – The Council of the Navajo Nation has approved an emergency bill to help eligible tribal members with additional aid payments in the event of hardship. The council also increased the payment amounts from $ 600 for each beneficiary to $ 2,000 for each adult and $ 600 for each child. Payments would go […]]]>

FARMINGTON – The Council of the Navajo Nation has approved an emergency bill to help eligible tribal members with additional aid payments in the event of hardship.

The council also increased the payment amounts from $ 600 for each beneficiary to $ 2,000 for each adult and $ 600 for each child. Payments would go to those who have previously received checks under the Navajo Nation CARES hardship assistance program.

The council voted 18-2 in favor of the measure on December 29. Although the council has approved the legislation, it has yet to be submitted to Tribal President Jonathan Nez for review.

Jared Touchin, spokesperson for the president’s office, said the office had not received the council’s resolution by December 30.

Delegate Amber Kanazbah Crotty, sponsor of the bill, told the special session: “This will not require an additional application process, so there will be no delay in awarding these dollars. And people who have never applied before will still have the option to apply and go through the process.

Delegate Jamie Henio, who opposed the bill along with Delegate Raymond Smith, expressed concern over money being taken from infrastructure projects needed to cover the increase.

“I wonder which project would be eliminated,” said Henio. “Is this the Tóhajiilee-Albuquerque water pipe project?” Could this be the Western Wildlife Project? Could this be the Many Mules project? Could it be all these other projects? … This is the concern I have. “


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“Metals, key minerals in energy change” https://amiyasahu.com/metals-key-minerals-in-energy-change/ Wed, 29 Dec 2021 04:47:00 +0000 https://amiyasahu.com/metals-key-minerals-in-energy-change/ Deia Markova oversees commodity trade finance at Société Générale in Switzerland – and is also a sustainability specialist. She says finews.com how finance can reconcile the two. Deia Markova, you had a career in commodity finance in metals trading. You are also responsible for Societe Generale in Switzerland sustainability efforts. Isn’t that a contradiction? Sustainable […]]]>

Deia Markova oversees commodity trade finance at Société Générale in Switzerland – and is also a sustainability specialist. She says finews.com how finance can reconcile the two.


Deia Markova, you had a career in commodity finance in metals trading. You are also responsible for Societe Generale in Switzerland sustainability efforts. Isn’t that a contradiction?

Sustainable development is now all the rage, but Société Générale has been a pioneer in the field. We started 20 years ago, and over the years we have built a solid expertise since, all along the relevant value chains. I can say with confidence that today within our group, each employee and each company is challenged on a daily basis to find the means to play a role in the energy transition and to actively contribute to helping our customers achieve their goals. ESG.

“Big data to map greenhouse gas emissions”

The energy transition is a complex subject that affects all aspects, all industries, all sectors and all countries. And therefore, the solutions are complex and require a lot of creativity and pragmatism. Working for two years on impact finance and the new business model allows me today to co-build, with our customers and partners, effective solutions to support their energy transition.

How does it work in practice?

For example, we are working with Carbon Chain and several clients, using big data and machine learning technologies to measure greenhouse gas emissions from certain trade flows through mapping of the entire chain. ‘supply. This mapping gives our customers and ourselves a better understanding and transparency of their company’s current carbon footprint situation at every stage of a transaction – in the warehouse, at the port, on the ship. .

“Wind and solar power require large base and niche metals”

It also creates the necessary level of auditability and the ability to compare with benchmarks. We started this project because we lacked the data we needed to analyze the emissions from our commercial loan portfolio and understand the true carbon footprint of the complex individual supply chains we finance around the world.

Your previous clients included metals and mining groups. Can this industry suddenly go green?

Metals and minerals are essential for a clean energy transition and low carbon technologies. Wind, solar and energy storage batteries are widely recognized as key components in meeting future energy needs at low to zero greenhouse gas emission levels. Each of these technologies is mineral intensive, requiring a large amount of base and niche metals.

What is the result of this?

We are witnessing a historic shift from a fuel-intensive energy system to a material-intensive energy system. A typical electric car requires six times more mineral inputs than a conventional car, and an onshore wind power plant requires nine times more mineral resources than a gas power plant.

Problematic from all points of view?

Societe Generale supports producers ensuring sustainable and reliable extraction of the minerals necessary for low-carbon technologies. We also support producers in implementing measures to reduce their carbon footprint and contribute to the circular economy. Our role is to help accelerate the decarbonisation efforts of our customers.

What is the link with your Russian business partners?

Recent examples in the Russia and CIS region include the structuring of the first green loan in the gold mining sector globally, one of the first green loans in the mining sector and the first in the region. We also set up the first sustainability-linked credit facility for one of the world’s largest low-carbon aluminum producers.

“Steel producers can adapt to climate change”

We are very involved in setting industry standards for decarbonization. By co-leading the Steel Climate-Aligned Finance Working Group, our ambition is to help define a path consistent with the development of low-carbon industrial solutions in the steel industry. Societe Generale supports steel producers using cutting-edge hydrogen technologies to produce low-carbon steel demonstrating the industry’s potential for climate adaptation.

What can we concretely Societe Generale Swiss branch do at fight against climate change? How do you have an impact?

Indeed, Societe Generale aims to lead a lasting change in finance and the Swiss entity is no exception to this ambition. We have developed a complete range of innovative sustainable finance solutions, dedicated to our clients, companies and financial institutions. This includes financing tools, investment solutions and advisory capabilities.

“Switzerland brings various players in finance, NGOs and academics to the debate”

For example, financing tools linked to ESG are already in place with all our corporate clients in Switzerland or will be implemented as soon as the old existing instruments expire in the years to come. We have also built a unique advisory capacity in terms of the structuring of ESG obligations and vis-à-vis external ESG rating agencies.

You were at the recent Building Bridges in Geneva. Is Swiss finance doing enough for sustainability?

Yes, I had the honor to share my point of view on “The leverage power of the financial sector towards a just transition” during a panel organized by the ILO in partnership with the UNEP FI. Building Bridges is a unique conference, with very large attendance and exceptionally rich content. What makes it unique is that it brings together various actors from the financial industry, the United Nations, international organizations, NGOs, universities and local, cantonal and national authorities and makes us discuss and collaborate to achieve sustainable development goals.

Impact is a key issue – as speaking alone does not solve climate change.

Let me focus for a moment on impact investing where Switzerland plays a leading role. According to the Swiss Sustainable Investment Market Study 2021, sustainable investments again increased significantly by 31% in Switzerland compared to the previous year.

“One in three Swiss francs is a factor of sustainability”

The total volume of investments taking ESG factors into account with at least one of the approaches covered thus reached 1.52 billion Swiss francs at the end of 2020, which means that around one in three Swiss francs of assets managed in Switzerland takes into account a sort of sustainability factor. . In my opinion, this is a pretty impressive result and one that gets better every year.

Where do you see a need to catch up?

Societe Generale is an active member of Swiss Sustainable Finance, or SSF. The roadmap launched by SSF during “Building Bridges” defines concrete measures to be taken by players in the Swiss financial center to accelerate the achievement of global climate goals and the United Nations Sustainable Development Goals.

“Nationalities and origins count as much as gender in diversity”

It is an ambitious roadmap with concrete actions for all players in the Swiss financial services sector. As Switzerland has already achieved a lot in the area of ​​sustainable finance, the aim of this roadmap is to manage the next steps and introduce effective measures on a larger scale.

Half of the management of Société Générale in Switzerland is already made up of women. How does this show up in decision making?

Indeed, our board of directors is quite unique. Besides the fact that half of us are women, we also have a good diversity of nationalities and origins. This allows us to approach subjects from different angles. Our decisions reflect this diversity – they are balanced and adapted to the multicultural reality of our Branch.

Who sets the tone – women or men?

We always seek to capitalize on the diversity of points of view and to find the best compromise allowing the company to develop, while keeping our employees passionate about their profession.

What advice would you give to young female bankers on their career path?

Be bold and believe in yourself. What really makes a difference in business is courage – calculated risk taking. People who become good leaders have an above-average willingness to take bold action, but they increase their chances of success through careful deliberation and preparation.

“Bringing disruptive thinking to the table”

And often this is accompanied by disruptive thinking and innovation. Let me give you an example. Taking charge of executing a transaction that is important to your client often requires bold negotiation, the implementation of an innovative solution, and a lot of conviction. But it’s the transactions that make you visible and recognized in an organization. And climbing the ladder is essential.


Deia Markova is head of the commercial commodity finance department at Société Générale – a traditional area of ​​strength for the French lender. She began her career in investment banking for the Paris-based bank before later specializing in structured business solutions for metals and mining producers in Russia and the CIS states. From 2014 to 2017, Markova led the business lending activities of Sberbank in Switzerland, with a focus on producers and traders of commodities.


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The new rules of Monopoly https://amiyasahu.com/the-new-rules-of-monopoly/ Mon, 27 Dec 2021 09:30:48 +0000 https://amiyasahu.com/the-new-rules-of-monopoly/ Why this game is different Monopolies have changed, as well as this larger companies buy. Google and Facebook don’t charge consumers money for their most popular services, but rather collect vast amounts of data about their users which they then use to help target online advertising. Amazon charges low prices, sometimes lower than the cost […]]]>

Why this game is different

Monopolies have changed, as well as this larger companies buy. Google and Facebook don’t charge consumers money for their most popular services, but rather collect vast amounts of data about their users which they then use to help target online advertising. Amazon charges low prices, sometimes lower than the cost of manufacturing the products, but boasts of its top-notch customer service.

And by the time new competitors arrive on the board, they often find that the big guys are already occupying the most lucrative squares.

Corporate approaches have made it one of the richest companies on the planet, with market values ​​exceeding the economies of many countries, as well as a stranglehold on consumer data that powers much of modern commerce.

Who plays the game now

The traditionalists: “IT ISN’T BROKEN”

This post-1970s school of thought was once the young upstart on the antitrust scene. Today, it is the establishment in power. And its main yardstick for measuring a company’s effect on markets is whether consumers pay high prices.

This idea, known as the Consumer Welfare Standard, was created by Robert Bork, the conservative DC Circuit judge best known for his unsuccessful battle for the Supreme Court nomination during the Reagan administration.

Under this standard, the government would have to block business mergers that would result in higher prices. But that should bless trade deals that aim to increase efficiency, promote innovation, or take other measures that would lower prices.

Based on that logic, federal officials and judges approved mergers and takeovers that reduced the number of competitors in markets ranging from airlines and cellphone companies to cat food and coffins.

According to this view of the law, monopolies are not necessarily bad. Achieving a legal monopoly – and being able to charge high prices – is an important part of the free market because it encourages companies to improve their products. While this may seem incompatible with their intense focus on consumer prices, traditionalists almost always oppose government intervention in pricing decisions, preferring to let the market decide.

The law “simply seeks to prevent illegal monopolization“, said Judge Antonin Scalia in a key 2004 court decision.” To preserve the incentive to innovate, the possession of monopoly power will only be deemed illegal if it is accompanied by an anti-competitive element. conduct. “

Scalia’s exhortation translated into an oft-repeated motto: “Big is not bad. Big behaving badly is bad.

For these traditionalists, monopolies are often a sign of ingenuity and consumer preference. Antitrust authorities and courts should avoid challenging companies, except in the clearest and most egregious cases, for fear of stifling innovation.

People

Groups

Chamber of Commerce
Heritage Foundation
George Mason University Law School
NetChoice Technology Trade Group
Computer and Communications Industry Association

Companies

Google
Apple
Amazon
Facebook


Reformers: “REPAIR, DON’T STOP”

Reform decision-makers and legislators the school thinks the system has become too tilted in favor of big business. They want to change antitrust laws to make it easier to challenge monopolies again, but without radically changing the existing order.

“Our application tools are rusting,” wrote Senator Amy Klobuchar (D-Minn.) book published this year on the need for antitrust reform.

Klobuchar, the Senate’s top antitrust Democrat, has introduced bills to change the way courts interpret the law. His Republican counterpart, Senator Mike Lee of Utah, also argued for tighter government merger review standards and making it difficult for monopolists to excuse their problematic conduct.

The antitrust debate should focus less on prices, they argue.

“Modern antitrust law enforcement and judicial decision-making have become obsessed with… [an] economic extravagance, ”Lee said in a September speech to the Federalist Society. But economists “will measure what can be measured and tend to forget what is not.”

Most of the Reform camp, including Lee, always adopt the standard of consumer welfare. But they say courts should expand it to examine how mergers or the conduct of business affects values ​​such as choice, product quality or privacy – arguing that traditionalists This approach has contributed to the growth of gigantic technology companies.

“The whole Silicon Valley business model is built on the idea that this is untouchable by competition laws,” said Rebecca Allensworth, an antitrust professor at Vanderbilt Law School who focuses on technology and competition.

Reformers They are also arguing for the continuation of the app-based antitrust system in which the Justice Department and the FTC go to court against suspected monopolists – though they want the laws changed to make it easier for the government to win.

“The tools aren’t broken,” Allensworth said. “We just didn’t use them properly. “

People

Groups

Public knowledge
Equitable growth
American Competition Institute

Companies


Spotify
Match
Bark
DuckDuck Go


The anti-monopolists: “BREAK THEM UP”

An even more aggressive anti-monopoly The antitrust law school rose to prominence under President Joe Biden, who chose two of its founders – Khan and new White House adviser Tim Wu – for prominent executive positions.

Admirers sometimes call these people the New Brandeis School, named after former Supreme Court Justice Louis Brandeis. Critics have derided them as “Hipster Antitrust”. Unlike traditionalists and reformers, this crowd argues that antitrust laws were enacted not only to ensure fair markets, but also to prevent the consolidation of corporate power and protect democracy.

The anti-monopoly school developed in response to the 2008 financial crisis and concerns about banks “too big to fail”. In their view, concentrated corporate power is always bad and the government should seek to break it.

“Fair market transactions are a political right,” said Matt Stoller, research director for the advocacy group American Economic Liberties Project. The anti-monopoly movement seeks to “ensure that people have rights in the market, that they can enter industries and have fair relationships with buyers and sellers.”


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PCE inflation rose 5.7% in November, keeping pressure on Biden https://amiyasahu.com/pce-inflation-rose-5-7-in-november-keeping-pressure-on-biden/ Thu, 23 Dec 2021 15:31:57 +0000 https://amiyasahu.com/pce-inflation-rose-5-7-in-november-keeping-pressure-on-biden/ PCE inflation grew 0.6% monthly and jumped 5.7% year-on-year in November. Data shows prices continued to rise at the fastest rate in decades as Americans entered the holiday season. High inflation will keep additional pressure on President Joe Biden as he enters his second year in office. Loading Something is loading. Personal consumption expenditure data […]]]>
  • PCE inflation grew 0.6% monthly and jumped 5.7% year-on-year in November.
  • Data shows prices continued to rise at the fastest rate in decades as Americans entered the holiday season.
  • High inflation will keep additional pressure on President Joe Biden as he enters his second year in office.

Personal consumption expenditure data for November shows that the prices of basic consumer goods continued to rise at a strong pace, with the key measure of inflation rising 0.6% in the month and 5 , 7% compared to the same period in 2020.

This annual gain is the biggest jump in the PCE index since 1982. Another key inflation indicator previously released by the Commerce Department, the Consumer Price Index, was also the highest since 1982 in November. . This means that today’s PCE jump was somewhat expected, but it does confirm how dramatically inflation rose in November, pretty much across the board.

The Biden administration and the


Federal Reserve

had argued for much of 2021 that inflation would be “transient,” although that term was left undefined for much of the year and was withdrawn this fall by Fed Chairman Jerome Powell and Secretary of the Treasury Janet Yellen. The Fed’s projections have steadily exceeded inflation this year, after decades in which the Fed has beaten inflation which has remained around 2%.

Yet, to account for the implicit argument of the so-called Team Transitory, the 5.7% annual figure is skewed against a pre-vaccine deflationary era in November 2020, and on a two-year basis, the inflation figure is closer to 4%.

Commerce Department data released Thursday shows core PCE – which excludes more volatile food and energy prices – rose 0.5% in November. Food and energy prices rose 0.7% and 3.6% respectively during the month. Core PCE is up 4.7% from November 2020.

“While month-to-month data can be volatile, overall this report is consistent with a strengthening labor market supporting consumer spending as post-pandemic expansion continues at a low. steady pace, ”wrote the Council of Economic Advisors. Twitter.

The CEA also warned that November data pre-dates the Omicron variant’s rise, and it’s unclear how this variant will affect the consumption of goods and services in December and beyond. In other words, high inflation could take much longer to exit the economy.



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