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Brexit apart, Spain’s political uncertainty is a microcosm of the euro zone’s deepening troubles

Political parties in Spain will enter campaign mode this week after Prime Minister Pedro Sánchez on Friday called for an early general election, the third such ballot in as many years. However, far from being an exception, the latest political uncertainty in the euro zone’s fourth-largest economy comes as there are mounting signs of political instability and stagnating growth in other large European economies like Germany, France and Italy. With the euro zone “celebrating” its 20th anniversary… Source link

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China 

Brexit deadline looms for Asia-bound ships as slow boats to China set sail from the UK

Dozens of cargo ships will set sail on Friday from the United Kingdom on journeys that will see them enter Asian ports after the United Kingdom has left the European Union. The status of these container ships is causing headaches among officials at the British Consulate General in Hong Kong, the South China Morning Post understands, ahead of the planned Brexit on March 29, with some journeys lasting as long as 48 days. The officials are concerned that ships could be “stranded at sea” in the case of a no…

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Global 

No-deal Brexit and US-China trade war deadlines loom, but new ECB top economist says: ‘don’t panic’

The global economy is hurtling towards two of the most potentially severe headwinds in a decade, but the incoming chief economist of the European Central Bank had a message in Hong Kong on Tuesday: don’t panic. March will see deadlines expire for the partial truce in the US-China trade war and for the United Kingdom to negotiate an orderly exit from the European Union, both of which have the potential to send shock waves through the global economy. Philip Lane, who was endorsed by European finance ministers on Monday to…

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Brexit: How influential is it on the UK property market?

[Sponsored Article] Brexit may be dominating headlines ahead of the UK’s historic exit from the EU on March 29, but overseas property investors have no reason to be worried. Whatever the outcome of the Brexit negotiations, their impact on residential markets will be negligible at worst, with a strong likelihood of being very favorable to international buyers. Foreign investors have largely been undeterred by the Brexit drama. According to figures from Jones Lang LaSalle (JLL), around half of all UK property acquisitions in 2018 were made by overseas investors, totaling…

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The Brexit debate is too important to be sidetracked by the red herring of Dyson’s move to Singapore

The announcement a few days ago that Dyson – one of Britain’s leading, innovative and most successful businesses with annual sales of over £4 billion (US$5.25 billion) – was moving its head office from the UK to Singapore, was big news not only in the UK but throughout Asia. Dyson started producing vacuum cleaners in Chippenham in the UK in 1993 before moving to Malmesbury two years later. It invested millions in the site, tripling its UK workforce in the five years up to 2018, with 1,100 employees in Singapore,…

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Global 

China’s top banker names US Fed policy and Brexit as biggest risks to global growth

The trade war was not mentioned by China’s central bank governor on Friday when he gave his picks for the biggest risks to the global economy this year. Instead, Yi Gang, speaking at the second China-Germany High Level Financial Dialogue in Beijing, nominated the US Federal Reserve’s policy trajectory and Britain’s plan to leave the European Union. Yi also predicted a slowdown in the global economy in 2019, with widening differences in regional growth performance. “There are a few major uncertainties [in the global economy] and the first one is…

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Brexit chaos adds to global risks, but the No 1 worry comes down to economic growth

There is an academic experiment that demonstrates the “wisdom of crowds”. It consists of placing a large jar of jelly beans on a desk and asking a classroom full of people how many beans are in the jar. Of course, no one has any idea – they have to guess by looking at it.  The experiment reveals that, even though individual guesses may be wild, the average or median of the many guesses usually results in a remarkably close crowd estimate of the actual number of beans in the jar.…

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What Brexit means for Prime Central London property investment

[Sponsored article] Uncertainty over the United Kingdom’s exit from the European Union has clouded the country’s investment markets since the historic vote was cast in June 2016, but the forecast is now looking sunnier. With a deal most likely to be reached before the planned Brexit date arrives on 29 March 2019, greater political certainty is expected to see a resurgence in confidence for businesses and consumers alike that will result in positive growth in the UK property markets, particularly in the capital. London’s housing markets have weathered the Brexit…

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As Brexit debate begins, Hong Kong financial firms seek to avoid being tripped up by UK divorce from EU

The ongoing drama surrounding the acrimonious break-up between Britain and the European Union could affect thousands of businesses that use London as a base for their European operations. Though the drama is playing out more than 9,000 kilometres away, some of Hong Kong’s biggest financial institutions are trying to avoid being caught in the middle. HSBC and Standard Chartered – two of the three lenders that issue bank notes in Hong Kong and important drivers of the city’s economy – are among those that have been planning for Brexit since…

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How excessive CEO pay helped fuel the rise of Donald Trump, Brexit and an anti-capitalist movement

Plato apparently insisted 2,000 years ago that no one in the ancient Greek economy should earn more than five times the average therking person. George Orwell argued in 1941 that there was “no reason that 10 to one should not be the maximum normal variation”. Jump forward to the early 1970s and management guru Peter Drucker said that 20 to one from top to average was the right range between average workers and the CEO. I wonder what view they would take of today’s average American CEO, earning US$13.1 million…

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