UK Prime Minister Rishi Sunak’s Potential Conflicts of Interest Are By Now Too Big to Ignore
[ad_1] Sunak’s father-in-law’s company, Indian tech giant (and digital identity developer) Infosys, has been doing a roaring business with UK government departments since his son-in-law became chancellor and then PM. The Indian tech company Infosys, co-founded by Rishi Sunak’s father-in-law, N R Narayana Murthy, has seen its contracts with the UK government mushroom since Sunak […]
Gucci, Prada and Tiffany’s bet big on property
[ad_1] Listen to this story.Enjoy more audio and podcasts on iOS or Android. Your browser does not support the <audio> element. From the corner of Fifth Avenue and 57th Street the facade of Tiffany’s looks just as it did in 1961 when Audrey Hepburn, dressed in a long black dress and pearls, nibbled on a […]
Big Oil V. California | Armstrong Economics
[ad_1] Chevron can no longer remain profitable in California, where politicians fail to understand the impact of reducing fossil fuels without a reliable alternative. The company has already pulled back hundreds of millions in spending in California over the past two years. Chevron’s Q4 filings proclaimed it needed non-cash write-downs and is expected to report […]
‘Excess profits’ of big firms have driven up inflation, report claims
[ad_1] LONDON — Major companies in the energy and food sectors amplified inflation in 2022 by passing on greater cost increases than needed to protect margins, according to a new report. British think tanks the Institute For Public Policy Research and Common Wealth said in a report Thursday that big firms made inflation “peak higher […]
China edges towards a big bail-out
[ad_1] Listen to this story.Enjoy more audio and podcasts on iOS or Android. Your browser does not support the <audio> element. Chinese buses are idling. Statements released by a handful of transport companies complain of deteriorating economic conditions and a lack of financial support. In October two in the city of Nanchong, in south-west China, […]
Here’s what to watch in Friday’s big October jobs report
[ad_1] Apologies if you’ve heard this one before, but the jobs market is slowing down. No, really. Aside from the long-standing calls for a recession to hit the U.S., the expectation for a hiring retreat is probably the most oft-heard — and, so far, incorrect — economic call of at least the last year. True […]
China’s economy may be growing faster, but big problems remain
[ad_1] China’s emergence from its covid-19 controls was meant to be the biggest economic event of the year. Instead, the reopening has turned into one of the biggest disappointments. In a recent survey by Bank of America, fund managers in Asia expressed their “fatigue and frustration” with China’s weak growth and the lack of a […]
Here’s what you need to know about the big jobs report Friday
[ad_1] Columbia South Carolina, Chick-fil-A, fast food restaurant with sign advertising $15 an hour to be hospitable. Jeff Greenberg | Universal Images Group | Getty Images A strong jobs market could equal a weak stock market if current trends hold up. Friday’s nonfarm payrolls report will provide a major test for Wall Street, which has […]
Quelle Surprise! Bank Too Big to Fail Problem Not Solved as Lobbyists Scheme to Make It Worse
[ad_1] Yves here. Simon Johnson, former IMF Chief Economist and now a professor at MIT’s Sloan School, provides an update on the state of Too Big to Fail. The short version is that despite the de facto bailouts of Silicon Valley Bank and Signature Bank (by extending deposit guarantees to the rich who had no […]
Folly of Forecasts, Big Short Edition
[ad_1] Source: Adam Khoo, Twitter A preface before we get into this: Michael Burry has proven himself to be a rare fund manager. He has a great ability to identify a variant perception versus the Wall Street consensus and express that view in a deeply researched market position. As we learned in Michael […]