July, 2017

• 12 July

  The future of work demands big ideas

  Donald Trump won the US presidency in large part on a promise to help American workers displaced by trade and technology. That’s a worthy goal — but if he wants to deliver, he’ll have to rethink his approach. Above all, he’ll need to recognize that the modern economy is not just about digging holes and bashing metal. To date, Trump ...

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• 12 July

  South Africa needs a new direction

  The International Monetary Fund just pointed out that “South Africa’s vulnerabilities have become more pronounced.” That’s one way of putting it. A potentially prosperous and dynamic economy is on the fast track to ruin. Altering its course will take real political reform. Unemployment has risen five percentage points since 2008, to a hope-crushing 28 percent. The country’s population is expanding ...

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• 12 July

  China shows it can reject democracy and rise anyway

  

  Will China ever become democratic? That question has been a staple of geopolitical discussion since the 1990s, and at times many commentators thought a democratic China was not so far away. Today, as restrictions on political speech and opposition increase, hardly anyone thinks this is a realistic scenario. Yet it’s still worth asking why China might never democratize, and what ...

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• 12 July

  That new house has something to say on stock volatility

  

  The reason for the stock market’s vanishing volatility may not be what many people think. It may have more to do with local community boards or town reps than the Federal Reserve. Volatility, which has slumped this year, has been a big topic of discussion among market participants, and not all of it has been positive. Low volatility is usually ...

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• 12 July

  It’s high time to write the rules of cyberwar

  

  A new report by Bloomberg News about Russia being suspected of recently hacking a dozen US power plants, including a nuclear one, is far more serious than any possible attempt to influence an election. It could be a sign of something even scarier: two military superpowers stepping up a cyberwar in the shadows and without rules of engagement that protect ...

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• 12 July

  US stocks, bonds jump on go-slow Fed; oil climbs

  

  Bloomberg US stocks rose with Treasuries, while the dollar retreated after Janet Yellen signaled the Federal Reserve won’t rush to tighten monetary policy as inflation remains persistently below target. The S&P 500 Index climbed within 1 percent of an all-time high, joining a rally in European equities as Yellen expressed confidence in the American economy while suggesting inflation rates won’t ...

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• 12 July

  Energy shares give a boost to Indian stocks

  

  DUBAI / Reuters India’s main stock indexes capped a third day of record highs, paced by a rally in energy shares. A gauge of mid-cap stocks also climbed to an all-time level. The benchmark S&P BSE Sensex gained 0.2 percent to 31,804.82 at the 3:30 p.m. close in Mumbai, while the NSE Nifty 50 Index rose 0.3 percent. The Nifty’s ...

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• 12 July

  Hong Kong stocks rise

  DUBAI / Reuters Hong Kong stocks rose for a third day, closing above the key 26,000 level for the first time in more than a month, as banks led the gains. The Hang Seng Index advanced 0.6 percent to 26,043.64 at the close. Banks accounted for the benchmark’s top three gainers, with Industrial & Commercial Bank of China Ltd. and ...

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• 12 July

  Deutsche Bank targets Saudis in ‘massive’ push for wealth

  

  Bloomberg Deutsche Bank AG is targeting the Middle East as a priority region for wealth management as the lender seeks to recoup assets lost late last year when concerns about its capital levels prompted an exodus of clients. The Frankfurt-based bank is seeking to hire relationship managers and expand the products it offers wealthy clients in the region to attract ...

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• 12 July

  Ex-Credit Suisse trader raises $66mn for Bitcoin push

  

  Bloomberg Former Credit Suisse Group AG trader Nikolay Storonsky is getting $66 million from investors including Index Ventures to help expand his business offering banking services and add cryptocurrency exchange for customers. His London-based Revolut Ltd. raised the money in a round that included Balderton Capital and Ribbit Capital, according to a statement on Wednesday. Storonsky, 32, will use the ...

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