From the modern Babylon to the city of canals: Eurostar goes to Amsterdam August 26, 2020 From October this year, passengers will be able to take the Eurostar from St Pancras right into the heart of Amsterdam, the great Gothic Revival Station Centraal on Stationsplein. It’s an eye-catching headline, and one which conjures up images of connectivity, of grand continental train journeys, comfort, ease and relaxation. It’s true that the London-Amsterdam [...]
Asian stocks slip on recovery hopes amid global rally August 26, 2020 Asian stocks edged lower on Wednesday on lingering uncertainties regarding the global economic outlook, even as US stocks advanced to new highs. MSCI’s index of shares outside Japan slipped 0.1 per cent, retreating slightly from a two-year high on Thursday. Japan’s Nikkei dropped 0.12 per cent. It came after a set of mixed economic data, [...]
Six steps to true racial equality in business August 26, 2020 When we look back at 2020, what will have changed in the business world? I don’t mean social distancing and remote working. I mean actual systemic change: accountability, consequences, promotions, and retention. The combination of coronavirus and the Black Lives Matter (BLM) movement has raised questions about the tech industry’s problem with Black, Asian, and [...]
Jackson Hole symposium: All eyes on Fed chair Powell August 26, 2020 After an extremely busy few months, the world’s central bankers may have fancied a relaxing trip to the Teton mountain range in the US state of Wyoming. Yet it’s not to be. The coronavirus pandemic has forced this year’s Jackson Hole economic policy symposium to be held online on 27 and 28 August. Since 1982, [...]
Sweden shows us whether lockdown was worth the economic cost August 26, 2020 Did Sweden get it right in its response to Covid? There is increasing interest in this question. Contrary to widespread belief, the Swedes did introduce a few legally enforceable restrictions on behaviour. For example, public gatherings of more than 50 people were forbidden in March. Private ones were exempt from the ban. But, overall, compared [...]
A CEO’s guide to reaching net zero carbon emissions August 26, 2020 Former Bank of England governor Mark Carney warned last year that: “companies and industries that are not moving towards zero carbon emissions will be punished by investors and go bankrupt.” I would add customers and employees to that statement: a Net Zero commitment is becoming an expectation for companies they will buy from or work [...]
The corporate bond market is set for a record year — but also a dangerous and dysfunctional one August 26, 2020 2020 is going to be a record year for the corporate bonds market. New issue investment grade volume in the first half of the year exceeded $2.5 trillion. Records are also being broken in high-yield junk debt, despite a rising corporate default rate. Last week, the US primary market broke through $1.3 trillion of new [...]
The City View: CFA Institute’s Gary Baker on how markets have functioned during Covid-19 August 26, 2020 In this episode Christian talks to Gary Baker, EMEA MD of the CFA Institute, the global network of investment professionals, about how markets and investors have reacted to waves of market disruption and unprecedented central bank intervention. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Gary also talks about the role of human decision-making and judgement amid a rise [...]
City figures brought in to advise on UK trade negotiations August 25, 2020 Some of the City of London’s most prominent business leaders have been drafted in by the government to consult on the UK’s ongoing trade negotiations. Leaders from companies such as EY, Barclays and HSBC will be members of the Department of International Trade’s newly formed trade advisory groups. The government is simultaneously negotiating trade deal [...]
Wall Street hits new highs again after US-China trade deal talks August 25, 2020 US markets continued their record run this evening, once again closing at new highs after the US and China reaffirmed their commitment to President Donald Trump’s much-touted trade deal. Although the gains were more modest than yesterday, the benchmark S&P 500 closed up 0.4 per cent at 3,443 points, while the tech-heavy Nasdaq punched up [...]
