The group concentrated on stock levels in the OECD because, as I’ve written before, they are the most visible. The U.S. provides detailed numbers on a weekly basis, and most of the other members report inventory levels monthly. That’s in stark contrast to countries like China, where inventory is regarded as a state secret and not reported at all.
Taken together, Pew’s middle-income and upper-middle-income brackets encompass roughly 2.5 billion people—or a third of the world’s population. Buried inside these big numbers are many personal stories. Here we bring you four, from India, Brazil, South Africa, and Thailand. They’re tales of hard-won successes that evaporated overnight, along with well-paying jobs. Of once-accessible luxuries, like steak for dinner or home internet access, now out of reach. Of dreams deferred, whether an automobile or an apartment.
Although some banks may have made unfortunate decisions, it’s not true this risk was hidden or that there are not good systems to manage the risk. The first line of defense is the credit departments, which much approve all counterparties. These analysts had full insight into Archegos’ capital position, position sizes, risk management, processes, strategy and other factors. The credit department is not allowed to share this information with traders or prime brokerage staff, but it does examine this information carefully before approval and monitors it rigorously afterwards.
On many fronts, nuclear power remains an almost perfect solution for a resource-poor island nation like Japan: it requires minimal overseas fuel, takes up little land—unlike solar and onshore wind—and produces carbon-free power around the clock. In fact, the government was targeting atomic energy to eventually be its main source of electricity right up until the Fukushima disaster. Yet some 39% of Japanese people want all nuclear plants closed, according to a February survey.
While securities lending accounted for $652 million, or just 4%, of BlackRock’s revenue in the fourth quarter of 2020, there’s little cost involved and the risks are low because borrowers have to put up collateral that equals or exceeds the value of the loan. At both BlackRock and State Street Corp., the second-largest custody bank, the value of securities on loan as of Dec. 31 jumped at least 20% from a year earlier, to $352 billion and $441 billion, respectively. ... “It’s very important to remember that institutional investors earn substantial returns from participating in the securities-lending market,” Citadel’s Griffin said at the GameStop hearing. “That accrues to the benefit of pension plans, of ETFs, of other pools of institutional lending that participate in the securities lending market.”
Just how awkward a matter this is for Hong Kong authorities could be seen in how officials tied themselves in knots last year over the question of “separation of powers” — a doctrine that underpins Western constitutional democracy and is disliked by the Communist Party, since it implies a power base that is beyond the party’s control. This left Chief Executive Carrie Lam insisting illogically that Hong Kong both has no separation of powers and, as the Basic Law states, an independent judiciary.
Alongside its work report for this year, the government will also release economic goals for 2021-2025. The five-year plan is a hangover from the planned-economy era, when specific targets for output of steel and other products were set. Since then the document has become mainly a list of general aspirations, but it sets the tone of policy and includes some numerical targets.
The increases might not be immediately obvious to shoppers. Instead of raising the sticker price, retailers may cut back on multi-buy deals or special promotions. Last year, the number of grocery items sold on promotion in the U.S. dropped by 20 percentage points, according to NielsenIQ data, partly because pandemic-driven logistical challenges squeezed supply.
The immunization delays, he warned, are throttling Germany’s economy, a fact the country’s political class seems to take in stride as they bemoan the inevitability of it all on television. The violations of citizens’ basic rights, be they to run a business, receive an education or simply meet with friends in the park, is only temporary, they assure us.
And yet theory-of-everything treatises like Piketty’s ultimately seek provocation, not practicality, and Piketty concludes that such proposals are not enough to achieve true liberation. “It seems obvious that the only way to transcend capitalism and ownership society is to work out some way of transcending the nation-state,” he writes. We’ll need “a true participatory and internationalist socialism,” he says, in order to free humanity from the contradictions of capitalism in which it is so harmfully enmeshed.
They cited a 2004 survey by the China Wildlife Conservation Association that found 46% of urban residents had consumed wildlife and 2.7% were regular consumers. A January 2017 survey found 52% of markets they investigated were trading wildlife, while 40% of restaurants were providing wild animal dishes.
“The main conclusion from this stage of the work -- and it’s not over yet of course -- is that the exact same pathway by which SARS emerged was alive and well for the emergence of Covid,” said Daszak, who is also president of EcoHealth Alliance, a New York-based nonprofit that works to prevent viral outbreaks around the world.
Normally, in such cases of non-delivery a trading house could make a claim against a cargo’s insurance policy. But Mercuria found that just one out of seven contracts used by the Turkish company to insure the cargo was real. The rest had been forged.
The money raised from the transaction will be used to help IonQ manufacture a quantum-computing machine that works at room temperature and is about the size of an Xbox videogame console, Mr. Chapman said. That would be significantly smaller than early-stage machines on the market today, without requiring the supercooling necessary to achieve quantum mechanical effects. IonQ expects the device to be completed in 2023.
A member of Tchen’s task force, who spoke on the condition of anonymity to discuss its work, portrayed the role of the committees as contradicting the academy’s public position that awards are fully decided by industry peers. “The idea came through,” this person said, “that they do not want it just voted on by the hobbledehoy of the music industry.”
I put together this pic that visualizes how entrepreneurs have tried to carve out niches from craigslist, some more successful than others. This is in no way a comprehensive list (feel free to add to it in the comments below), and in some places, one might argue that craigslist is getting whipped (homeaway? others?). Also, some companies may have been founded early enough that craigslist wasn’t an original competitor. Regardless, it’s amazing how craigslist’s broad, horizontal approach to creating marketplaces is successful overall.
For Disney, consumer products are the earnings gifts that keep on giving — even during a pandemic. While revenue tied to its theme parks and cruise ships tumbled more than 40% in the fiscal year that ended in early October, merchandise licensing and retail revenues were down just 7%. In the latest quarter, Disney earned about 55 cents in profit for every dollar of consumer-product sales. This line of business consistently contributes more than $1.5 billion of operating income per year, and licensing carries much higher margins than producing a series that viewers binge in one sitting. In 2012, the Hollywood Reporter said that lifetime sales of “Star Wars” licensed goods had reached $20 billion, and that was before Disney acquired it.
Cutouts is an open source application. Code licensed under the MIT license. Copyright 2018 Siddharth Kannan