Wrenching euro clearing out of London after Brexit will harm financial stability, warns the Bank of England’s deputy governor

whatsapp Share Wrenching euro clearing out of London after Brexit will harm financial stability, warns the Bank of England’s deputy governor Dragging euro clearing out of London after Brexit could pose a risk to global financial stability and push up transaction costs, according to a deputy governor of the Bank of England (BoE).Sir Jon Cunliffe, who supervises financial stability for the Bank, hit out at “currency nationalism” as policymakers wrangle over the fate of euro clearing when the UK leaves the EU. The bulk of euro clearing currently takes place in the UK’s three major clearing houses, with around €1 trillion (£845bn) of euro trades every day, according to European think tank Bruegel. 83,000 City jobs could be lost if the move takes place, according to a report by EY.Read more: No transition deal for clearing will hurt the other EU member statesEuro clearing has become even more politicised since the UK’s June vote to leave the EU. After the vote French President Francois Hollande said the loss of clearing would serve as a “lesson” for the UK.The increasingly political rhetoric around clearing was “surprising”, Cunliffe said, as the multi-currency capability of firms such as London-based LCH “reduces the costs of central clearing – costs that are ultimately borne by the real economy.”This analysis was borne out by a report by Intercontinental Exchange (ICE) which pointed to a “significant increase” in costs for European banks if Brussels gets its way. Cunliffe said: “A policy of ‘currency nationalism’ is not a necessary condition for either financial or indeed monetary stability.”Read more: The EU mustn’t shoot itself in the foot – euro clearing thrives in LondonHe added: “Such a policy if applied by all jurisdictions is in the end likely to be a road to the splintering of this global infrastructure – and to further fragmentation of the global capital market – rather than the route to the sound and efficient management of risk.”The European Central Bank (ECB) has long been keen for euro clearing, in which transactions are made via an intermediary to make them smoother, to be moved to the Eurozone.The ECB lost a court challenge to previous efforts to require the movement of clearing, but after the UK leaves the EU the European Parliament would be free to change the law without fear of a British veto. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Jasper Jolly whatsapp Wednesday 22 February 2017 1:06 pm Ratings agency S&P also reported a move of clearing to the Eurozone would be “unparalleled among major global markets.”However, others, including the vice chairman of BlackRock, Philipp Hildebrand, say the UK will lose its clearing crown. read more

Investors are preparing to inject more cash into the private equity industry this year

Thursday 23 February 2017 6:28 pm Read more: Private equity houses battle it out for £500m UK IT services firm ClaranetThe Rede Liquidity Index (RLI), launched today, aims to measure the health of private equity in the same way of the Purchasing Managers’ Index (PMI), with a baseline score of 50 representing no change and a score above this indicating an intention to increase investment.European LPs were found to be more bullish, with a score of 71, than North American counterparts, who were on 56, when it came to primary funds. However, UK LP sentiment was found to be more in line with the US, with a score of 59.Rede also identified a significant variation between different types of investors. Asset managers scored 72, just ahead of insurance firms on 71, while pension funds were down at 50.“It’s clear that investor appetite towards private equity remains strong and that major institutional investors view the asset class as an attractive place to put their capital to work,” said Scott Church, a partner and co-founder of Rede. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeSteel Roof ReplacementThe Prices For Roof Replacement In Scottsdale Might Surprise YouSteel Roof ReplacementMiaw StoreSome acts from your cat may be a sign for alarm. Get to know it nowMiaw StoreHealth.recetasget5 Common Cancer Signs to Pay Attention ToHealth.recetasgettrendybuzzWhat Are the Side Effects of Wearing Socks While Sleeping? -trendybuzzAuto carLook: Top 5 best pick-up trucks 2021 | AutocarAuto carDailyforestParents Noticed Weird Mark On Son’s Arm, Shocked To Discover What It WasDailyforestArticles SkillThis Is Who Troy Aikman Is Actually Married ToArticles SkillFlight 10Pilots Ranked: World’s Most Dangerous AirportsFlight 10Fresh-Story.com20 Most Deadliest and Dangerous Snakes in the WorldFresh-Story.com whatsapp Read more: Private equity giant buys majority stake in London cloud tech companyRede also found a strong appetite for LPs seeking new relationships with general partners (GPs), with 40 per cent intending to increase commitments to new managers this year.“The ongoing maturation of the industry, coupled with its strong performance, means that most LPs continue to look for strong new manager relationships best positioned to address the market environment of today,” said Adam Turtle, partner and co-founder of Rede Partners. William Turvill Investors are preparing to inject more cash into the private equity industry this year The long-term nature of the asset class provides a degree of insulation from widespread economic and political uncertainty while providing significant market opportunities in which investors can generate attractive returns.While not all LP groups are equally bullish, the fact remains that the industry looks set to continue to attract significant inflows throughout 2017. Share whatsapp Investors are planning to increase investments into the private equity this year, meaning further growth in the industry, new research out today found.Some 44 per cent of limited partners (LPs) surveyed by Rede Partners said they intend to deploy more capital this year than in 2016, a record year for fundraising volumes, while 11 per cent said they would provide less. read more

Returns from peer-to-peer lending look attractive, but is it a sensible sector to invest for retirement?

first_imgAs Folk2Folk chief executive Giles Cross puts it: “Returns from the right P2P platform can be a great way of bolstering retirement income, and should be considered as part of a balanced portfolio of investments.”As well as the Isa, you can also invest in P2P loans through a DIY-style pension wrapper, such as a self-invested personal pension scheme (Sipp).One of the benefits of the pension wrapper over the Isa is that you can invest through several different P2P lending sites, rather than just one, which in turn spreads some of the risk.However, also bear in mind that most Sipp operators will only have a limited number of P2P providers to choose from – if any at all.The chief executive of Goji, Jake Wombwell-Povey, warns that investing in debt products through Sipps is difficult. One problem is that some platforms don’t have the processes in place to make sure that money invested through a Sipp is not lent to a connected party. Returns from peer-to-peer lending look attractive, but is it a sensible sector to invest for retirement? “HMRC levies a tax charge against the Sipp trustee for breaking the rules; this means that Sipp administrators are understandably risk-averse to ensure that they don’t incur those charges – and this manifests in restricted investment lists.”Wombwell-Povey also points out that Sipp managers need more regulatory capital if they allow investors to hold P2P loans and crowd bonds, which ultimately means higher costs for investors.“All of these well-intentioned challenges have essentially relegated these investments into the ‘too difficult’ bucket for many of the less innovative Sipp managers, or into the ‘too expensive’ bucket for other investors, despite soaring popularity among retail investors.”So if you’re looking to tap this market through a Sipp, look at the range of P2P providers available, and weigh up whether you think the extra costs are worth it.Risk and rewardThe proposition of each P2P lender varies so drastically and there are huge differences in the level of risk. This means there is no simple answer to whether the sector is suitable for your pension.Just like any investment, it’s important to do your research when choosing where to allocate your money: make sure you understand the proposition, and are comfortable with the risks. Also find out the default rate, and whether the firm has a provision fund to compensate investors for poorly performing loans.Richard Gill from Crowd for Angels says it’s important to know when you’ll receive income. “Some products, such as those offered by P2P providers, make consistent payments into your account as the loans are paid back. Others, like crowd bonds, may make monthly, quarterly, or semi-annual interest payments.”Ultimately there’s a strong argument for allocating some of your pension savings into the P2P market, but make sure you understand what you’re signing up for. whatsapp Tags: Crowdfunding Peer-to-peer lending Tax whatsapp Throw into the mix the concerns about an end to the equity bull market, and it’s not really surprising that people are looking to alternative sectors like P2P and crowdfunding to provide extra income in retirement and see their savings grow above inflation. In fact, Crowd for Angels says more than 20 per cent of its investors use the platform to save for pension growth.And indeed, Relendex’s Lynn says that looking outside the box has become a “necessity” for retirement savings to flourish. He even argues that P2P investments need not be risky, provided the loans are secured against assets and the lender platform is regulated by the Financial Conduct Authority.Structurally soundThe government’s launch of the Innovative Finance Isa in 2016 has also given people more faith in the sector, offering savers a tax-free wrapper for alternative investments.Of course, if you’re investing through the Innovative Finance Isa, this should act as a supplement to your retirement income, rather than a replacement for a pension.Whether you’re saving for retirement or not, it’s never a good idea to invest in one asset class. But there’s certainly something to be said for allocating a small portion of your pension savings to authorised P2P lending firms.center_img Peer-to-peer lending (P2P) has long been deemed by many professionals in the conventional investment industry as too risky for retail investors. Katherine Denham Thursday 1 November 2018 8:35 am Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFunny Notes You Don’t Want To Get From Your NeighborDaily FunnyUndoBill CruncherArizona Drivers With No DUI’s Getting A Pay Day This Month (Check If You Qualify)Bill CruncherUndo2021 Honda SUVS | Search AdsShut The Front Door! The 2021 Honda SUVS Astonish!2021 Honda SUVS | Search AdsUndoBeach RaiderShe Posted This Photo Online, Her Boss Sees It and Gives Her an UltimatumBeach RaiderUndoBozoba.comPour Vinegar On Bread And Leave It In Your GarageBozoba.comUndoCleaning Services | Search AdsHere’s What Cleaning Services In Scottsdale Should Actually CostCleaning Services | Search AdsUndoThe Wallet Watcher7 Discounts Seniors Get Only If They AskThe Wallet WatcherUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoWilliston Force Desktop ACThe Cool Summer Comfort You Can Take AnywhereWilliston Force Desktop ACUndo Share And yet, this technology driven form of lending has surged in popularity over the past decade, which is largely a result of the sector offering a decent return where other asset classes have struggled.According to research from AltFi published last month, the UK P2P lending market has outperformed more than 90 per cent of UK funds investing in bond and direct property over the past three years.But while potential returns from P2P lending look attractive, is it a good place to invest for your pension?Game-changerBefore the pension freedoms were introduced in 2015, savers had to buy an annuity, which pays a fixed sum of money throughout retirement.“Historically, planning for retirement was relatively simple,” says Michael Lynn, chief executive at P2P lender Relendex. Now people have more choice, they are turning away from the traditional annuity, which Lynn says is because savers have been bitten by traditional pension schemes, and are being badly let down by off-the-shelf products.last_img read more

Today, we are helping to ensure that business is a force for good

first_imgThe principles are flexible and high-level, recognising that private firms often have very different ownership structures to their listed counterparts, and include guidance on application.Good corporate governance is not about box-ticking – building the trust of stakeholders will only be achieved if companies think seriously about why they exist and how they deliver on their purpose, then explain, in their own words, how they go about implementing the principles.So, after months of public consultation and meetings with representatives from privately-owned businesses, based on the hard work and insight of our coalition group and the Financial Reporting Council, here are the principles we have come up with.• Purpose and leadership: an effective board develops and promotes the purpose of a company and ensures that its values, strategy, and culture align with that purpose.• Board composition: effective board composition requires an effective chair and a balance of skills, backgrounds, experience, and knowledge, with individual directors having sufficient capacity to make a valuable contribution. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. This week sees the launch of the UK’s first set of principles for the corporate governance of large private companies.This is a watershed moment that underlines the key contribution such companies make to the economy and society in general. James Wates Opinion Monday 10 December 2018 8:52 am Business, well done, is a force for good. Business creates the jobs, economic growth, and tax revenue that society so desperately needs. In my experience, most business leaders have an intuitive moral compass that guides them towards delivering this value.However, while listed companies have followed a corporate governance code for many years, private firms have not had any such guidelines.The government introduced legislation in June requiring larger private companies – which have a combined turnover of $1.6 trillion, and employ 6.2m people – to report on their corporate governance arrangements in their directors’ reports, and the Wates Corporate Governance Principles provide them with a structure for complying with that law.Equally important, they provide companies with a tool to look themselves in the mirror, to see where they’ve done well, and where they can raise their corporate governance standards to a higher level. This can in turn result in better engagement with their stakeholder base and ultimately build trust.Many of these companies are justifiably proud of what they are doing already; many have extensive processes in place to engage with the broad range of stakeholders that are integral to the firm’s success, and in particular to ensure that workforce concerns are addressed at board level. Our principles allow those companies to shine. whatsapp Share whatsapp Today, we are helping to ensure that business is a force for good • Board responsibilities: the board and individual directors should have a clear understanding of their accountability and responsibilities. Policies and procedures should support effective decision-making and independent challenge.• Opportunity and risk: a board should promote the long-term sustainable success of the company by identifying opportunities to create and preserve value and establishing oversight for the identification and mitigation of risks.• Remuneration: a board should promote executive remuneration structures aligned to the long-term sustainable success of a company, taking into account pay and conditions elsewhere in the company.• Stakeholder relationships and engagement: directors should foster effective stakeholder relationships aligned to the company’s purpose. The board is responsible for overseeing meaningful engagement with stakeholders, including the workforce, and having regard to their views when taking decisions.While the hard work of developing and delivering these principles has been completed, the job of embedding them, monitoring reporting, and ensuring that they deliver the aspirations which have been set by government and regulators is only just beginning.I am proud of the contribution to society that private companies make and confident that understanding that businesses follow a strong governance framework will enhance public trust. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Tags: Trading Archivelast_img read more

Government in email gaffe amid plans for new pornography age checks

first_img The government was embroiled in a data breach blunder today hours after setting out its own privacy laws over pornography age verification checks.Culture minister Margot James insisted privacy around porn checks will be secure despite a press release regarding the new laws exposing hundreds of email addresses when it was sent out to journalists this morning. whatsapp Share whatsapp Sebastian McCarthy Tags: BBC Brexit,Wednesday 17 April 2019 6:25 pm Read more: Poll: Farage’s Brexit party will beat Tories in EU elections”We have got real barriers to any leakage of data between the age verification companies and the porn sites, so the porn sites will never have that data,” Margot added. Tags: NULL Government in email gaffe amid plans for new pornography age checks center_img whatsapp Share Government in email gaffe amid plans for new pornography age checks More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comConnecticut man dies after crashing Harley into live bearnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comTexas governor said he plans to strip the Legislature’s paybusinessinsider.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comPuffer fish snaps a selfie with lucky divernypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com Sebastian McCarthy Read more: Brewdog temporarily takes down parody porn site after backlash”It is a bit embarrassing” James told the BBC after being asked about the data blunder, in which the Department for Digital, Culture, Media and Sport (DCMS) sent an email to more than 300 recipients in a way that allowed every address to be seen.A DCMS spokesperson said: “In sending a news release to journalists an administrative, human error meant email addresses could be seen by others. DCMS takes data privacy extremely seriously and we apologise to those affected.”The gaffe came as the government confirmed plans to force all internet users to prove themselves to be over 18 or be entirely blocked from seeing adult material online.The verification system will become mandatory for commercial providers of pornography by 15 July. NULL Wednesday 17 April 2019 6:28 pm whatsapplast_img read more

City firms told to reveal how climate change impacts their business decisio

first_img“By investing more in sustainable projects it can not only protect our environment, but also help establish London as the pre-eminent international centre for green finance. City firms will be asked to reveal what steps they are taking to combat climate change as part of the government’s Green Finance Strategy being unveiled today. Share The Green Finance Strategy comes a week after Labour’s John McDonnell set out his vision for radical reform of the services sector – including giving government the ability to delist companies and block private investment into companies he deems “destabilise” the economy. City of London offices were evacuated today due to a gas leak Other measures set to be announced include the government jointly funding a Green Finance Institute with the City of London; establishing a £5million Green Home Finance Fund to help pilot products like green mortgages; and launching the Green Finance Education Charter to ensure financial service qualifications and certificates include an understanding of green finance. He said: “Climate change is no longer simply a social responsibility issue. Tuesday 2 July 2019 1:06 am The announcement comes as Charles Counsell, chief executive of The Pensions Regulator, warned environmental changes threatened the stability of the services sector. Glen will also call for regulators such as the Financial Conduct Authority and the Financial Policy Committee to take climate change into account when carrying out their work. Speaking at the third Green Finance Summit in London, Glen is expected to say: “The City has a vital role to play in securing a greener future for us all. center_img whatsapp Owen Bennett Listed companies and large asset owners will have until 2022 to disclose how climate change risks impact their activities, City Minister John Glen will announce today. “Today’s Green Finance Strategy will support this ambition, with new initiatives to boost funding for green ventures and ensure the environment is at the centre of all financial decision-making.” City firms told to reveal how climate change impacts their business decisions whatsapp “It is a core financial risk impacting broadly across business, the economy and markets.” Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUndoPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsUndoUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyUndolast_img read more

Chinese forces exercise on Hong Kong border as Trump suggests meeting with Xi

first_img Share Last night, US President Donald Trump Called for China to “work humanely with Hong Kong” and suggested a personal meeting with China’s President Xi. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBill CruncherArizona Drivers With No DUI’s Getting A Pay Day This Month (Check If You Qualify)Bill CruncherStuff AnsweredBest Mattress Deals for Seniors 2020Stuff AnsweredUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarElvenarIf You Are Above 30, this Fantasy Game is a Must-Have. No Install.ElvenarNational Injury BureauJury Finds Roundup Responsible For Lymphoma | Bayer To Pay $10 BillionNational Injury BureauLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthSenior Cars | Search AdsThe Best SUVs for Seniors (The Price Might Surprise You)Senior Cars | Search AdsFinance DailyHomeowners Born Before 1985 Can Get This Huge Benefit in June (But You Must Request It)Finance DailyProFind Bath Bathroom Renovation Quotes1 Day Shower Installation: How Much Does it Cost?ProFind Bath Bathroom Renovation Quotes James Booth Parking spaces at the stadium were filled with more than 100 paramilitary vehicles, including troop trucks, buses, jeeps and armoured personnel carriers. Demonstrators say they are fighting the erosion of the “one country, two systems” arrangement enshrining some autonomy for Hong Kong when China took it back from Britain in 1997. Read more: Hong Kong’s airport reopens as Chinese officials describe protesters as ‘terrorists’ Protests began more than two months ago, in opposition to a bill allowing extraditions to mainland China for trial in Communist-controlled courts. However, they have widened to highlight other grievances, winning broad support. Chinese paramilitary forces have been carrying out exercises on the border with Hong Kong today as the political crisis in the territory roles on. News agency Reuters reported that hundreds of members of China’s People’s Armed Police could be seen conducting an exercise at a sports stadium in Shenzhen today. Chinese forces exercise on Hong Kong border as Trump suggests meeting with Xi center_img “This is the first time I’ve seen such a large-scale meeting,” Yang Ying, a receptionist at a wellness centre inside the stadium’s retail complex told Reuters. Read more: US wades in by telling China to allow city to ‘exercise autonomy’ Chinese authorities yesterday described the protests, some of which have turned violent, as “near terrorism criminal actions”. whatsapp At least two of the vehicles carried water cannon. “There have been exercises in the past, but usually they involve traffic police,” she added. “Our friends, social media all say it’s because of Hong Kong.” Trucks and armoured personnel carriers are seen outside the Shenzhen Bay stadium in Shenzhen, bordering Hong Kong in China’s southern Guangdong province, on August 15, 2019. – Thousands of Chinese military personnel held drills at a sports stadium in southern China on August 15 morning, raising the fear of military intervention in Hong Kong, which has seens weeks of civil unrest. (Photo by STR / AFP) (Photo credit should read STR/AFP/Getty Images) “I know President Xi of China very well. He is a great leader who very much has the respect of his people. He is also a good man in a ‘tough business.’ I have ZERO doubt that if President Xi wants to quickly and humanely solve the Hong Kong problem, he can do it. Personal meeting?” he tweeted. whatsapp Thursday 15 August 2019 10:29 amlast_img read more

Global temperature changes top list of extreme risks for investors

first_imgGlobal temperature changes have become the top extreme risk for investors, according to a new index of the greatest threats to world economic growth in 2019. Global temperature changes top list of extreme risks for investors ILULISSAT, GREENLAND – JULY 30: Water drips from ice in the Ilulissat Icefjord during unseasonably warm weather on July 30, 2019 near Ilulissat, Greenland. The Sahara heat wave that recently sent temperatures to record levels in parts of Europe is arriving in Greenland. Climate change is having a profound effect in Greenland, where over the last several decades summers have become longer and the rate that glaciers and the Greenland ice cap are retreating has accelerated. (Photo by Sean Gallup/Getty Images) He added: “Global temperature change becomes the highest ranked risk due to our assessment of higher likelihood coupled with significant impact – in the extreme this would mean mass extinction.” Monday 9 September 2019 11:09 am Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndozenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamaUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost FunUndoJournalistateTeacher Wears Dress Everyday, Mom Sets Up CamJournalistateUndo whatsapp “Our extreme risks ranking has seen the emergence of a general trend with financial risks falling down the rankings and non-financial extreme risks growing in significance, said Tim Hodgson, head of the Thinking Ahead Group. Risks that have risen up the rankings this year are infrastructure failure (+8 places), as well as global trade collapse (+3) and currency crisis (+3). center_img Weather hazards, a collapse in global trade and cyber warfare were ranked as the greatest risks in a report that categorises rare events which could have a high impact on world growth and asset returns. Read more: The City is ready to trade with the world Share Read more: Debate: Would a no-deal Brexit be bad for business? A collapse in biodiversity, the abandonment of fiat money and cyber warfare have all moved into the top 15 risks for the first time, while deflation, insurance crises and terrorism have all dropped out. Sebastian McCarthy whatsapp According to the report, produced by The Thinking Ahead Institute (TAI), the extreme risks that are less of a threat than in 2013 include stagnation, which has fallen eight places, as well as resource scarcity which lost top spot by falling three places.last_img read more

IoD seeks to move on from scandal with new director general

first_imgRead more: Businesses must ramp up no-deal Brexit plans, IoD warns whatsapp Read more: IoD’s next boss will receive barely half previous chief’s salary The business group said at the time that it has long campaigned against excessive pay and it was in this spirit that it decided to lower the new head’s salary. IoD chair Charlotte Valeur said: “Jon impressed the board with his vision for the future of the IoD, and we believe he is the ideal person to refresh our offering to members. Jonathan Geldart served on the global board of accountancy firm Grant Thornton. (Image credit: Institute of Directors) The IoD will hope Geldart’s appointment will bring to a close a tumultuous period for the 116-year-old organisation. Geldart will receive a salary of around £250,000, significantly lower than Martin’s take-home pay. The former boss received £436,000 in 2017, the IoD’s annual report from that year shows. Harry Robertson IoD seeks to move on from scandal with new director general (Image credit: Institute of Directors) Geldart said: “With current turmoil in both the political and business environments, I strongly believe that it is even more important to equip directors of all organisations with the tools to be resilient and agile in their response to a fast-changing world.” whatsapp “Directors need a strong IoD to provide them with guidance, representation, and a community of like-minded peers,” Geldart said. “The UK needs more directors who understand and responsibly discharge both their legal and societal duties.” In January, director general Stephern Martin resigned less than two years into the job. His exit followed that of chair Lady Barbara Judge amid accusations she had bullied and made racist comments to staff. She denies the claims. “At this pivotal moment when the UK is trying to establish a new role on the global stage, Jon brings an international perspective combined with a deep understanding of the needs of directors.” One of his central tasks will be turning around the organisation’s finances. It lost £4.2m in 2018 due to declining membership and the cost of the investigation into Judge. A Yorkshire resident, Geldart has a long-standing connection with the IoD’s Yorkshire and north-east region of which he was chair until his appointment to the top job. Monday 30 September 2019 12:38 pm Share UK business leaders group the Institute of Directors (IoD) has announced Grant Thornton executive Jonathan Geldart will be its new director general. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comlast_img read more

Donald Trump proved the doubters wrong and got it right on Iran with Qassem Soleimani

first_img City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. The lesson of all this is simple. Our enemies are not 10 feet tall, much as we might sometimes believe that they are. The west retains tremendous power to shape the world for the better. All it needs is the belief to do so. This was answered by the Soleimani strike and Trump’s threat to hit 52 targets in case of an Iranian escalation. Donald Trump may be an unusual messenger to remind us of this truth, but it is enduring nonetheless. When the Middle East crisis broke at the start of this year, many outcomes were predicted by a panicked commentariat in response to the US drone strike on Iran’s terrorist-in-chief, Qassem Soleimani. Opinion The various theories peddled by such observers fell into two broad camps: that war would inevitably result, or that the west would suffer from the wrath of an Iran united in grief for the loss of a great leader. In an extreme example of this phenomenon, London was last week subjected to a Corbyn-led rally of protesters who delighted in dusting off their old “Stop the War” hats (which should more properly be called “Stop Some Wars”, as it only appears to be conflicts threatening enemies of the west that these people ever want to prevent). Main image credit: Getty by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMisterStoryWoman files for divorce after seeing this photoMisterStoryNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comNews SharperChrissy Metz Is So Skinny Now And Looks Like A Model (Photos)News SharperJournalistateTeacher Wears Dress Everyday, Mom Sets Up CamJournalistateDefinition24 Of The Most Hilarious Yard Signs Ever WrittenDefinition Some particularly emotive souls even conflated both ideas into a combined critique of the foreign policy erraticism and adventurism of their much-loathed target, the Trump administration. What everyone appeared to have forgotten is that there is no equivalence of power between the US and Iran. On the contrary, Washington’s military capabilities dwarf those of Tehran. whatsapp Thursday 16 January 2020 4:38 am All this should have been obvious were western observers not blinded by the idea — or perhaps, in some egregious cases, hope — of perceived US decline. But even this myopia pales into comparison to the extraordinary assumptions made about the Iranian people’s likely response to the death of Soleimani. It doesn’t matter how many terrorist attacks or forms of unconventional warfare a country might be able to unleash if its ruling regime is unable to defend its powerbase on home soil. The ayatollahs could see this clearly, which is why they pulled their punches by missile-striking empty bases in their rush for the exit ramp from conflict. Now, finally, the three European countries have rediscovered their backbone, and initiated a move that could lead to the snapback of sanctions on Iran in a couple of months. The Trump administration has long sought solidarity from its European allies on this subject. It is no coincidence that it has finally obtained it just after reasserting its own red lines in the region. Share Thus, the public mourning for Soleimani did attract crowds. But it was just that part of the population that Iran’s authorities wanted the world to see. Under such circumstances, an expanded conflict between the two countries — which would not have been a ground invasion but an air campaign designed to disrupt the Iranian regime’s command and control abilities and hamper its ability to continue its repression of its own people — would have only ended with one outcome: the collapse of Iran’s theocracy. Many in the west bought the propaganda completely, only to have to eat humble pie when the tragic shooting down of PS752 by Iranian forces and the attempted Iranian cover-up led to a resumption of domestic protests at the sheer incompetence of the regime. To give some credit to pessimistic western critics, the crisis might well have led to an expanded conflict. But this was always unlikely, because for the Iranians to have upped the ante to the next level would have meant inviting ever more devastating reactions from the Americans. But by far the greatest sign that the Iran defeatists and doubters got it wrong, and that Trump has got it right, has come this week with the declaration by the UK, France and Germany to refer Iran to the Dispute Resolution Mechanism of the Joint Comprehensive Plan of Action (JCPOA, commonly called the Iran Deal) regulating the country’s nuclear programme. What was emphatically not foreseen by most, however, was what actually happened: a stunning foreign policy triumph for President Trump, and the unmasking of the Iranians — at least in this round of hostilities — as a bungling paper tiger. Iran has been cheating on the JCPOA terms ever since the Americans withdrew from it in 2018. But desperate to keep the deal alive (rather than renegotiate it to make it more effective, as the Americans wanted), the Europeans did not follow suit, even as Iranian infractions of JCPOA became ever more blatant. Alan MendozaAlan Mendoza is executive director of the Henry Jackson Society. A section of Iran’s population does enthusiastically support the clerical regime. But if this were a genuinely popular government, the ayatollahs would have had no need to shut down the internet at the end of last year to hide the fact that the authorities were butchering an estimated 1,500 of their own citizens in order to prevent escalating unrest. The only real question was therefore whether the US would rise from its recent strategic torpor in the Middle East, and use them. whatsapp Donald Trump proved the doubters wrong and got it right on Iran with Qassem Soleimani The public mourning for Soleimani did attract crowds, but it was just that part of the population that Iran’s authorities wanted the world to see (AFP via Getty Images) Show Comments ▼last_img read more