ANNUAL ADVERTISING RATES FOR INSURE-DIGEST

Annual Advertisement Rates

Wednesday, December 30, 2015

European Economy France: Warm weather hits consumer spending in France

Consumer spending in France fell by the highest amount in nearly two years in November – partly due to the unusually warm weather according to reports.

But there was little sign that the Paris terrorist attacks had put people off making purchases.

Official data said consumer spending fell by 1.1 percent last month compared to October; economists had expected a slight increase.

The French statistics agency INSEE blamed a fall of around five percent overall in energy consumption and sales of new clothes.

Read more: Warm weather hits consumer spending in France | euronews, economy

Sunday, December 27, 2015

Weapons Industry: ISIS weapons sourced from Russia, China, US and EU

 Weapons and arms from dozens of countries including Russia, China and the US have fallen into the hands of Islamic State militants who in turn have used them to kill, terrorise and attack.

A damning report by human rights group Amnesty International has found Islamic State atrocities have been fuelled by decades of reckless arms trading — and it’s partly the west’s fault.

In its report released today, Taking Stock: The arming of Islamic State, Amnesty reveal lax controls and decades of a poorly regulated arms trade are to blame for the terror group acquiring a huge and deadly arsenal of weapons.

Amnesty said widespread corruption within successive Iraqi governments had also given Islamic State unprecedented access to firepower.

The terror group have used these weapons to commit gross war crimes in both Syria and Iraq and also to take control over areas across Syria and Iraq.

The report draws on expert analysis of thousands of verified videos and images and details how IS fighters are using arms, mainly looted from Iraqi military stocks, which were manufactured and designed in more than two dozen countries, including EU states.

Other weapons have been acquired during battle, through illicit trade as well as through defection of fighters across Syria and Iraq.

Patrick Wilcken, Researcher on Arms Control, Security Trade and Human Rights at Amnesty International said the vast and varied weaponry being used by militants was “a textbook case of how reckless arms trading fuels atrocities on a massive scale.”

Note EU-Digest: the solution is simple: but the implementation is nearly impossible. National governments in cooperation with the UN must register all local and international arms dealers and trace their sales and whenever possible prosecute them.The least National Governments can do is to make the life of weapons dealers more difficult .It proves once again, given the actual facts, how hypocritical governments are when it comes to curbing their profitable weapons industry.

Read more: ISIS weapons sourced from Russia, China, US and EU

Saturday, December 26, 2015

Toward Global Disaster: Chaos and Intervention in the Middle East - by Richard Falk

There are many disturbing signs that the West is creating conditions in the Middle East and Asia that could produce a wider war, most likely a new Cold War, containing, as well, menacing risks of World War III. The reckless confrontation with Russia along its borders, reinforced by provocative weapons deployments in several NATO countries and the promotion of governing regimes hostile to Russia in such countries as Ukraine and Georgia seems to exhibit Cold War nostalgia, and is certainly not the way to preserve peace.

Add to this the increasingly belligerent approach recently taken by the United States naval officers and defense officials to China with respect to island disputes and navigational rights in the South China Seas. Such posturing has all the ingredients needed for intensifying international conflict, giving a militarist signature to Obama’s ‘pivot to Asia.’

These developments are happening during the supposedly conflict averse Obama presidency. Looking ahead to new leadership, even the most optimistic scenario that brings Hilary Clinton to the White House is sure to make these pre-war drum beats even louder. From a more detached perspective it is fair to observe that Obama seems rather peace-oriented only because American political leaders and the Beltway/media mainstream have become so accustomed to relying on military solutions whether successful or not, whether dangerous and wasteful or not, that is, only by comparison with more hawkish alternatives.

The current paranoid political atmosphere in the United States is a further relevant concern, calling for police state governmental authority at home, increased weapons budgets, and the continuing militarization of policing and law enforcement. Such moves encourage an even more militaristic approach to foreign challenges that seem aimed at American and Israeli interests by ISIS, Iran, and China. Where this kind of war-mongering will lead is unknowable, but what is frighteningly clear is that this dangerous geopolitical bravado is likely to become even more strident as the 2016 campaign unfolds to choose the next American president.

Already Donald Trump, the clear Republican frontrunner, has seemed to commit the United States to a struggle against all of Islam by his foolish effort to insist that every Muslim is terrorist suspect Islam as a potential terrorist who should be so treated. Even Samuel Huntington were he still alive might not welcome such an advocate of ‘the clash of civilizations’!

Read more: Toward Global Disaster: Chaos and Intervention in the Middle East

Friday, December 25, 2015

OilPrice Intelligence Report: Outlook For Oil In 2016 Still Grim

As we head into the holidays, there may be a shortage of holiday cheer for energy companies and their investors. Here’s hoping to a much improved New Year!

Oil prices saw no relief since last week, with the surprise jump in the active rig count in the United States weighing on the market. Baker Hughes reported an increase of 17 for oil rigs (offset by a decline in the gas rig count), a bearish signal that suggests that some drillers feel they can still make money drilling despite rock bottom oil prices. To be sure, there is a lag time between oil prices and the rig count figures, and the metric is not a perfect measure of market conditions. But the increase caught the markets by surprise, sending oil prices down to 11-year lows, surpassing the low points logged during the depths of the financial crisis in 2009.

There are few reasons to be bullish right now, although most market watchers still target late 2016 as the period in which things start to turn around. "We view the oversupply as continuing well into next year before rebalancing in the fourth quarter 2016," Goldman Sachs said in recent report. "Our base case remains that the global oil stock build will on aggregate remain shy of storage capacity, although the storage buffer has once again narrowed." Mild temperatures continue to suppress demand across the United States for natural gas and liquid fuels, which could ultimately result in a much smaller drawdown during winter heating season than is typical.

Of course, oil prices staying below $40 per barrel is extremely negative for oil and gas producers. With hedges rolling off, 2016 is shaping up to be a very painful year for the entire sector. S&P recently warned that financial stress in the energy industry will likely rise as we head into the New Year. “Hedges represent 8% (1.619 MMboe/d) of total expected oil and gas production in 2016, a marked decline from the 15% hedged last year,” S&P said this month. “The trend continues for speculative-grade companies, which have just 29% (1.437 MMboe/d) of total oil and gas production hedged next year compared with 45% in 2015.”

The economic damage inflicted upon oil-producing countries has also been well documented and closely watched. Nigeria is one such country. The West African OPEC member has seen its budget decimated by low oil prices, and the government has come under increasing pressure to devalue its currency, the naira, because of the weakening economy and shrinking foreign exchange. Nigerian President Muhammadu Buhari has held out, projecting confidence that Nigeria can maintain the peg. However, he recently opened the door to a potential devaluation in January.

Buhari said that the central bank could introduce “some flexibility” that would encourage some capital inflows. Nigeria has suffered from a shortage of dollars, which has made some economic transactions difficult in the country. A devaluation would logically address this problem. “I am aware of the problems many Nigerians currently have in accessing foreign exchange for their various purposes,” the president
said. “These are clearly due to the current inadequacies in the supply of foreign exchange. We are carefully assessing our exchange-rate regime, keeping in mind our willingness to attract foreign investors, but at the same time managing and controlling inflation to a level that won’t harm average Nigerians.”

Weakening currencies is a problem throughout the oil-producing world, with significant declines exhibited in South America, Africa, the Middle East and Eurasia. Countries with flexible exchange rates have seen their currencies plunge over the past year while countries with fixed exchange rates are coming under extreme pressure to abandon their pegs and devalue. Nigeria’s naira peg could be next on the firing line, but it surely will not be the last.

Another bearish black swan event looming over the oil markets is latent Libyan oil capacity. Rival factions in Libya have carved up the country and kept the North African oil producer from exporting to its full potential. Libya’s oil output has been down around 400,000 barrels per day for the past year or two, while its Qaddafi-era capacity stood at 1.6 million barrels per day. However, the rival governments in Libya have started the peace process, and
signed an UN-brokered accord last week. It is unclear whether the peace deal will hold, but if violence and instability begins to abate, Libya could start to bring some oil production back to international markets. The exact amount is unclear, but if, say, 500,000 barrels were brought back online sometime in 2016, that would be extremely negative for oil prices. That would essentially offset the expected declines from U.S. shale next year. 

Tuesday, December 22, 2015

2015 Business Year Review: tracking the global recovery

even years after the crisis began, the global economy has taken decisive steps out of the dark. Just as the collapse hit countries in different ways, the way out has not been the same for everyone. Some countries have made it in high gear, others have been slowly working up through low ones.

But the process is well underway and in this programme we track the recovery with our own correspondents to see how connected the global economy is, and what to expect in 2016.

We start in the country that is now leading the recovery – the United States. The world’s largest economy made its way through the crisis and is now in a period of growth that is hopefully solid enough to stand the higher interest rates recently announced by the Federal Reserve.

That’s not the case in Europe yet. The recovery here is way behind. Eurozone countries don’t always share their advances, but they do share the problems.

We look at the economic fairy-tale in Germany, the eurozone’s largest economy, that’s been damaged by the country’s leading company. We check out the situation in Spain – one of the fastest growing in the block, where the data always look way better in the summer – and examine Greece, where the holiday season was really hot, though not relaxing.

After Europe, we go to Asia, where China became a ticking bomb when Beijing tried to slow down growth.

And finally we analyse parts of the Arab world where the recovery has been hit not only by lower oil prices, but also by terrorism that has taken a high toll on tourism and the wider economy.
 
Read more: Business Year Review: tracking the global recovery | euronews, world news

Monday, December 21, 2015

Financial Industry: how Iceland deals with "too big to fail" banks :" we shouldn’t lose the banks to the hands of fools”

If Bjarni Benediktsson, Finance Minister has his way, Icelanders will receive kr 30,000 after their government has ownership of the bank. Íslandsbanki will be the second largest bank, of three, under Statero prietorship.

Benediktsson stated, “I am saying that the government take [sic] some decided portion, 5%, and simply hand it over to the people of this country.”

Since the government is under the control of Icelanders, they own the banks.  Bjarni believes that their economy will be fueled by foreign capital that will be brought into the country, which still remains the only European nation that has fully recovered from the 2008 crisis. Iceland was even able to pay its outstanding debt to the IMF before its due date.

Budget Committee vice chairperson, Guðlaugur Þór Þórðarson, explained that this move will ease the lifting of capital controls, even though he’s not entirely sure that State ownership is the ideal solution.

Steingrímur J. Sigfússon, former Finance Minister, agrees with Þórðarson stating in a radio show, “we shouldn’t lose the banks to the hands of fools” and that a shift in focus to separate “commercial banking from investment banking” would benefit Iceland.

Read more: First They Jailed the Bankers, Now Every Icelander to Be Paid in Bank SaleREALfarmacy.com | Healthy News and Information

Sunday, December 20, 2015

Moving Into a Chinese-Indian World - by Martin Hutchinson

The IMF has allowed the Chinese renminbi to become part of its  Special Drawing Right from next October, the third largest after the dollar and the euro.

 China and India are both now growing much faster than the West. Their greater populations mean that their output will overwhelm the West’s well before 2100.

Their brutal realism about international economic relations, so similar to the attitudes of Britain in 1815 and the United States in 1915, will ensure their success.

Just as the 19th Century belonged to Britain and the 20th Century to the United States, so the 21st Century will belong to them – with no other obvious claimant to the 22nd.

More: Moving Into a Chinese-Indian World - The Globalist

The Netherlands: Dutch courts to judge Shell in landmark oil spill case - by Jan Hennop

A Dutch appeals court ruled Friday that four Nigerian farmers may take their case against oil giant Shell to a judge in the Netherlands, in a landmark ruling involving multinational corporate governance.

"The Dutch courts and this court consider it has jurisdiction in the case against Shell and its subsidiary in Nigeria," Judge Hans van der Klooster said at the appeals court in The Hague.

The four farmers and fishermen, backed by the Dutch branch of environmental group Friends of the Earth, first filed the case in 2008 against the Anglo-Dutch company in a court case thousands of kilometres (miles) from their homes.

They want Shell to clean up devastating oil spills in four heavily-polluted villages in the west African country's oil-rich Niger Delta, prevent further spills and pay compensation.

Read more: Dutch courts to judge Shell in landmark oil spill case - Yahoo News

Saturday, December 19, 2015

EU Refugee crisis: 'Economic migrants',asylum seekers coming to EU for same reasons,report says - by Lizzie Dearden

Despite the British Government's efforts to distinguish between “genuine” refugees and economic migrants, a report has found that the motivations for both groups to risk their lives in desperate attempts to reach Europe are often very similar.

The Overseas Development Institute (ODI) , a UK-based independent think tank urged European leaders to develop a broader understanding of what causes people to migrate in order to respond to the current crisis.

Its Why People Move report said: “The evidence reveals that the asylum-seekers and economic migrants often have similar reasons for choosing to make the dangerous journey to Europe and one person may fall into both of these categories at the same time.

Read more: Refugee crisis: 'Economic migrants' and asylum seekers are coming to Europe for the same reasons, report says | Europe | News | The Independent

Thursday, December 17, 2015

IMF: French court orders IMF chief Lagarde to face trial over 'Tapie affair'

A French court has ordered International Monetary Fund (IMF) chief Christine Lagarde to face trial over her role in the payment of some €400 million ($434 million) to French tycoon Bernard Tapie, legal sources said Thursday.

Read more: france 24 - French court orders IMF chief Lagarde to face trial over 'Tapie affair' - France 24

Wednesday, December 16, 2015

Global Economy: The global impact of the US interest rate rise - by Kamal Ahmed

When America stirs, the rest of the world takes notice.

Rising US interest rates could mean higher debt repayments for emerging market governments and businesses - as the amount owed is denominated in dollars.

And with higher interest rates in America, investment capital will be encouraged across the Atlantic and away from Asia in the hunt for better returns.

That could affect Europe as well.

On the upside, the stronger dollar which has followed the rise might be good for European and Asian economies as it means exports to America are cheaper.

Read More: The global impact of the US interest rate rise - BBC News

US Economy: Janet Yellen says rate hike reflects the Fed's confidence in the U.S. economy - by Jim Puzzanghera and Don Lee

In late 2008, with the unemployment rate soaring and a crippled financial system propped up by government bailouts, the Federal Reserve pushed its key short-term interest rate as close to zero as possible.

Now, exactly seven years after that unprecedented decision, central bank policymakers unanimously declared the economy strong enough to finally start inching the rate up again.

“The economic recovery has clearly come a long way, although it is not yet complete,” Fed Chairwoman Janet L. Yellen declared Wednesday.

But the much anticipated hike was both good and bad news for the U.S. economy.

It validated the strength of the slow-moving recovery from the Great Recession, which investors cheered.

The Dow Jones industrial average rallied after the announcement, closing up about 224
points.

Read more: Janet Yellen says rate hike reflects the Fed's confidence in the U.S. economy - LA Times

Tuesday, December 15, 2015

European deposit guarantee is priority to revive economy - says EU's Dijsselbloem

A plan to set up a euro zone insurance for bank deposits is the key priority of the European Union to boost the bloc's economy, top EU officials said on Tuesday, pushing for a deal that has been fiercely opposed by Germany.

A European-level guarantee for savers is seen by many as a necessary complement to existing national bank guarantee schemes, which in some countries may not be able to protect deposits up to 100,000 euros
 as EU rules require.

"I'm convinced that setting up and finishing the banking union will be more important for economic recovery than any other projects at the moment," the head of the euro zone finance ministers, Jeroen Dijsselbloem, told EU lawmakers in a hearing at the European Parliament in Strasbourg.

Read more:b European deposit guarantee is priority to revive economy - EU's Dijsselbloem | Reuters

Monday, December 14, 2015

Taxation Policies: Curbing Tax Avoidance, Tax Evasion And Tax Havens

The aggressive tax avoidance by multinational corporations (MNCs) where they are now paying virtually no tax was highlighted recently by the takeover of “Irish” company Allergan by Pfizer in a blatant tax-avoidance move.

Such tax avoidance by these companies is facilitated by sovereign nations in their “tax wars” between each other, vying for foreign investment.

They are ceding billions in taxes to multinational corporations while beggaring their own exchequers.

Governments have woken up to these tax losses; progress is being made, but much more needs to be done.

Figures released from the OECD confirm that corporate tax revenues have been falling across OECD countries.

Read More: Curbing Tax Avoidance, Tax Evasion And Tax Havens

Politics and business: The U.S. Global Business Community Must Speak Against Trump - by Philip Bowring

s a westerner long based in Asia, I am astonished at the silence – so far as I am aware – of U.S. corporate interests overseas, collective and individual, in the face of Donald Trump’s remarks about Muslims.

There is a very simple issue here. The very suggestion that Muslims should be barred from entering the United States can only cause Muslims worldwide to ask themselves: Why should we buy goods and services from a nation which so despises us?

Why should we welcome Americans whether as investors, tourists or traders if we are to be thus treated?

It is not good enough for the U.S. business community to shrug its shoulders and imply that Trump is full of publicity-seeking rhetoric and is making proposals that can never come to pass.

It is not good enough to laugh off Trump’s statements as of scant relevance, political theater at the early stage of the Republican selection battle, let alone the campaign for the presidency itself.

Read more: The U.S. Global Business Community Must Speak Against Trump - The Globalist

Sunday, December 13, 2015

EU Economy: Nobel Laureate Sees ‘Much Worse’ EU Economy From Refugee Crisis - by Johan Carlstrom

 Europe’s economic prospects are worsening as the region struggles to absorb the wave of asylum seekers coming from the Middle East, according to Angus Deaton, the winner of this year’s Nobel economics prize.

Though Europe’s debt and migrant crises are similar in scope, the demographic challenges posed by the sudden influx of people is potentially worse because “no one really has any idea how to solve” the situation,

Deaton said. At least with the debt crisis, “people knew how to solve it,” they just “couldn’t agree with each other,” he said.

Read more; Nobel Laureate Sees ‘Much Worse’ EU Economy From Refugee Crisis - Bloomberg Business

Saturday, December 12, 2015

France: COP21 climate change summit reaches deal in Paris

A deal to attempt to limit the rise in global temperatures to less than 2C has been agreed at the climate change summit in Paris after two weeks of negotiations.

The pact is the first to commit all countries to cut carbon emissions.

The agreement is partly legally binding and partly voluntary.

Earlier, key blocs, including the G77 group of developing countries, and nations such as China and India said they supported the proposals.

President of the UN climate conference of parties (COP) and French Foreign Minister Laurent Fabius said: "I now invite the COP to adopt the decision entitled Paris Agreement outlined in the document.

"Looking out to the room I see that the reaction is positive, I see no objections. The Paris agreement is adopted."

Read More: COP21 climate change summit reaches deal in Paris - BBC News

Friday, December 11, 2015

EU: Social enterprise: a new business model for Europe

This week Business Planet looks at the concept of social enterprise – sustainable, innovative entrepreneurial answers to society’s challenges.

It’s fast becoming a real new business model in Europe today.

Loïc Van Cutsem is the General Manager of Oksigen, a company that believes society’s most pressing issues need to be tackled using an entrepreneurial approach that simultaneously creates social and economic value.

To see video click here: Social enterprise: a new business model for Europe | euronews, business planet

Tuesday, December 8, 2015

Climate Conference Paris: COP21: Hopes rise as EU forms alliance to push for deal - by Matt McGrath

The European Union has formed an alliance with 79 African, Caribbean and Pacific countries in a final push for agreement at the climate summit COP21.

The new alliance has agreed a common position on some of the most divisive aspects of the proposed deal.
They say the Paris agreement must be legally binding, inclusive and fair - and be reviewed every 5 years.

The EU will pay 475 million euros to support climate action in the partner countries up to 2020.

Read more: COP21: Hopes rise as EU forms alliance to push for deal - BBC News

Wednesday, December 2, 2015

Europe goes green: Waste no more: EU’s Circular Economy package - by Dan Alexe

With what is going on in Europe and around, one would not think that garbage and waste are major priorities, in spite of the hype surrounding the Paris mega-conference on climate change.

A major political package, reinventing European economy.” The two major super-Commissioners, EU Commission’s First Vice-President Frans Timmermans and Jyrki Katainen Vice-President of the EC in charge of Jobs, Growth, Investment and Competitiveness were not shy of being dithyrambic today in presenting the new EU Circular Economy package.

I came one year late, but it is more ambitious than the previous draft, assured Frans Timmermans. More realistic, he later corrected during a press conference, for some targets are lower in the new package. Thus, the waste and incineration laws in the new package, which call for 65 % recycling target for municipal waste and allow a 10 % landfill quota – a weakening of the 2014 targets which called for a 70 % municipal waste target and a complete ban on landfill waste.

“We need to go circular in the way in which we grow and consume”, said Frans Timmermans. “You can compare circular economy to globalisation”, added Jyrki Katainen.

According to the Commission, the proposed actions will contribute to “closing the loop” of product lifecycles through greater recycling and re-use, and bring benefits for both the environment and the economy. The plans will extract the maximum value and use from all raw materials, products and waste, fostering energy savings and reducing Green House Gas emissions. The proposals cover the full lifecycle: from production and consumption to waste management and the market for secondary raw materials.

This transition will be supported financially by ESIF funding, €650 million from Horizon 2020 (the EU funding programme for research and innovation), €5.5 billion from structural funds for waste management, and investments in the circular economy at national level.

Read more: Waste no more: EU’s Circular Economy package

France: French Regional Elections: Everything you need to know

France is staging regional elections on Sunday December 6, with second round run-offs, where necessary, on December 13
.
The elections are the first major test of France’s unpopular president Francois Hollande since last month’s Paris terror attacks.
\
While support for Mr Hollande has made a spectacular recovery since the attacks, polls point to a strong showing by the far-right Front National, leading to fears that Europe’s many crises - terror, migration, single currency - is fuelling a rise of the far Right.


Read more: French Regional Elections: Everything you need to know - Telegraph

Monday, November 30, 2015

EU Labour Conditions: First findings : Sixth European Working Conditions Survey

The sixth European Working Conditions Survey (WCS) presents the diverse picture of Europe atwork over time across countries, occupatiRons, gender and age groups

Read more: First findings: Sixth European Working Conditions Survey - ef1568en.pdf

"The Corporate Takeover of American Minds": Black Friday vs. Cyber Monday: Which is better?- by Kirsten VerHaar

Black Monday : Frenzied Shoppers
"There's nothing quite like the thrill (and novelty) of piling into the car in the wee hours of the morninand waiting for your favorite retailer to open its doors.

Adventure awaits: Will you score the ultimate doorbuster deal? Or how about that unannounced surprise sale that could be offered? Both are very real possibilities that you can only experience live and in person.

And sometimes nothing can replace the sensory experience, especially when shopping for clothing or furniture.

You don't have to worry about shipping costs or canceled orders either, because you'll be carting your loot home.

To some, Cyber Monday offers many of the same benefits of Black Friday without all the hassle. According to the National Retail Federation, Cyber Monday (the Monday after Thanksgiving weekend) is expected to contribute significantly to overall holiday sales — an anticipated $105 billion in online sales, So, is it worth opting for the couch instead of the mall?

Shopping from the comfort of home or work makes for more rational decisions, and you're not dealing with the crowds.

Finally, the pleasure of shopping in PJs can't be discounted. There's nothing better than curling up on the couch with a cup of cocoa and getting your spend on.

Bottom-Line: do you really need all  those so-called "bargains" and make retailers happy as they deposit your hard earned cash in the bank ?  As a passerby of a major US  department store noted when he saw all the frenzied shoppers trying to get into the store: "Every One Has The Right To Do Stupid Things But The American Consumers Are Abusing that Privilege."


 Read more: Black Friday vs. Cyber Monday: Which is better?

Sunday, November 29, 2015

EU-USA: Transatlantic trading deal

The guns of the long transatlantic beef war are silenced. Last year the European Union more than doubled its quota of American beef imports (so long as it is not treated with hormones) and America removed punitive duties on imports of Roquefort cheese. The Americans should soon ease a ban on beef imports imposed in 1997 to prevent the spread of mad cow disease. In November the EU accepted the American practice of decontaminating meat with lactic acid. A final skirmish, over American beef fat, could soon be settled through plans to allow imports of tallow for biodiesel (but not for cosmetics).

After decades of trade rows and lawsuits, the truce is meant to clear the air for an ambitious transatlantic free-trade deal. EU officials speak of creating “something approaching a transatlantic single market in goods”. Even a less grand pact could help to re-energise struggling economies on both sides of the Atlantic. It could also help America and Europe to set international trade rules in the face of a fast-rising China.

Big business wants a deal. Trade unions and greens are no longer so worried about a race to the bottom. The ever-protectionist French and Italians are on board. And yet there is genuine wariness, particularly on the American side.

The report of a high-level group that is expected to recommend the start of talks has been delayed. Perhaps, think some, President Barack Obama is trying to squeeze concessions out of the Europeans; or, Europeans worry, he cares more about a transpacific deal; or he is busy setting up his second-term administration; or is he waiting for the right moment for an announcement, for instance in his state-of-the-union message on February 12th?

American officials say they want to ensure that any negotiation is both unusually ambitious and unusually fast. The deal, they say, has to be done “on one tank of gas”, by which they mean in the next two years. Neither side wants a repeat of the moribund Doha round, now in its 12th year.

America and the EU make up the world’s biggest and richest trading partnership, accounting for about half of global GDP and one-third of trade. They are the biggest investors in each others’ economies. But this very closeness makes progress harder. Easy deals have mostly been done; what is left is complicated. Tariffs are low (below 3% on average, though higher on farm products) but non-tariff barriers abound. Many have to do with consumers, public health, the environment or national security. Governments are not usually elected to compromise on such matters.

One European aim is to open up America’s public-procurement market, which is more protected than Europe’s; one reason is that the federal government cannot force states to open tenders to foreign bidders.

Another is to dismantle restrictions on services, which represent the lion’s share of output but a relatively small part of exports. European airlines cannot take over American carriers or carry passengers between American cities. Similar restrictions apply to coastal shipping under the 1920 Jones Act. Yet the EU market in services also remains fragmented. A transatlantic deal could spur further integration.

Other difficulties include France’s insistence on the “cultural exception” to protect French-language audio-visual products, and the EU’s wish for America to respect hundreds of “geographical indications” on everything from Parmesan cheese to French wines.

Read more: Transatlantic trading | The Economist

Friday, November 27, 2015

US Economy: The Crisis Of The American Working Class

The disturbing evidence about the health of white middle-aged American working class, discovered and publicized this week by Nobel prize winner Angus Deaton and his wife Anne Case, is not tied to just one trend in the culture, policies, or economic factors at work within the United States.

It is not the fault of one party or movement, but has multiple root causes. But it is something we all ought to be concerned about, both for the future fiscal and policy burden it represents, and for the broader lesson it tells us about how America is changing.

The numbers clearly indicate that these Americans are increasingly likely to kill themselves
– whether on purpose or through the slow gradual death of addiction to alcohol and prescription drugs.

The rate of mortality increased most dramatically for white Americans lacking any more than a high school education.

There have been a host of reports about the rise in the number of Americans receiving disability payments over the past three decades – this one, from This American Life, is still fairly definitive. It is impossible to understand the current Labor Force Participation situation without acknowledging this dramatic growth.

Read more: The Crisis Of The American Working Class

Spanish Economy: Summer tourism helps Spain’s economy grow more than other eurozone countries

Summer tourism helped Spain’s economy grow faster than most others in the eurozone in the third quarter.

Figures from Spain’s National Statistics Office (INE) showed that output expanded by 0.8 percent between July and September, as household spending recovered from the doldrums.

The effects of the recession still hit many Spaniards hard – a major challenge for the centre-right government ahead of next month’s elections.

“I keep saying that we’re coming out of the recession. We’ve seen two and a half years of positive growth. But we still haven’t reached, in terms of income, the levels we had before the crisis. We’ll get there, if we maintain this pace of growth, at the end of next year,” said Spanish Economy Minister Luis de Guindos.

Falling unemployment has helped boost spending – but more than 20 percent are still out of work.
Labour reforms are credited with having stemmed job losses – but critics say they’ve failed to tackle employers’ abuses of short-term contracts. Economists also say the gap between Spain’s highest earners and its poorest is on the rise.

Tourism accounts for around 11 percent of Spain’s output. A record year for foreign visitors brought a rise in the number of jobs in hotels, restaurants and other parts of the service sector.

Read more: Summer tourism helps Spain’s economy grow more than other eurozone countries | euronews, economy

Monday, November 23, 2015

Agriculture Linked to DNA Changes in Ancient Europe -

The agricultural revolution was one of the most profound events in human history, leading to the rise of modern civilization. Now, in the first study of its kind, an international team of scientists has found that after agriculture arrived in Europe 8,500 years ago, people’s DNA underwent widespread changes, altering their height, digestion, immune system and skin color.

Researchers had found indirect clues of some of these alterations by studying the genomes of living Europeans. But the new study, they said, makes it possible to see the changes as they occurred over thousands of years.

“For decades we’ve been trying to figure out what happened in the past,” said Rasmus Nielsen, a geneticist at the University of California, Berkeley, who was not involved in the new study. “And now we have a time machine.”

Before the advent of studies of ancient DNA, scientists had relied mainly on bones and other physical remains to understand European history. The earliest bones of modern humans in Europe date to about 45,000 years ago, researchers have found.

Early Europeans lived as hunter-gatherers for over 35,000 years. About 8,500 years ago, farmers left their first mark in the archaeological record of the continent.

Read more: Agriculture Linked to DNA Changes in Ancient Europe - The New York Times

Friday, November 20, 2015

EU Economy: Europe’s housing crisis far from over, says report - by Robert Hackwil

Europe’s housing crisis that was triggered by the 2008 financial meltdown is far from over and is getting worse in some places, a new report has claimed.

The price of a European way of life keeps rising

Both groups seem to be coming to the same conclusion; for some Europeans, spiralling housing costs mean their continent is becoming too expensive for them to live in.

Every EU member has at least one “hotspot” city, whose economic dominance means everyone wants to live there for the jobs or client base it provides, and the education, health and leisure facilities. The top six overheated housing markets are Paris, Helsinki, Amsterdam, Luxembourg, London and Brussels.

However, these hotspot cities are also extremely attractive for another group – investors. Land is a finite resource, so the wealthy have twigged that property values in these places are never going to drop and are a sure thing where making money is concerned. This has skewed the housing market in these places, with plenty of housebuilding for the wealthy, who often buy property not to live in or let, but simply as an investment, but little or no “affordable” housing being built.

Read more: Europe’s housing crisis far from over, says report | euronews, world news

Thursday, November 19, 2015

SA and Netherlands sign agreements to strengthen trade, investment

Businesses from South Africa and the Kingdom of Netherlands have signed fifteen co-operation agreements in Newtown, Johannesburg on Tuesday night.

The contracts relate to co-operation in areas such as ICT, waste technology, renewable energy and water management amongst others.

The agreements are expected to further strengthen trade and investment between the two countries which currently stands at around R50 billion.

Prime Minister Mark Rutte says trade relations between both countries can still be expanded.

Read more: SABC News - SA and Netherlands sign agreements to strengthen trade, investment:Wednesday 18 November 2015

Tuesday, November 17, 2015

Has EU gender equality policy lost its momentum?

Yes, reckons Finnish researcher Johanna Kantola. The EU Court of Justice, meanwhile, is having a positive impact through judgements which could also have major consequences in the Nordic region, according to Kirsten Ketscher, Professor of Social Security and Welfare at the University of  Copenhagen.


Read more: Has EU gender equality policy lost its momentum? — Nordic Labour Journal

Monday, November 16, 2015

Paris attacks: Where does Isis get its money and arms from? - by Tom Brooks-Pollock

Jeremy Corbyn posed a series of rhetorical questions when asked whether bombing Isis following the Paris terror attacks would make a significant difference to the situation.

In an interview with Lorraine Kelly on ITV, the Labour leader answered "probaby not", adding: "Who is funding Isis? Who is arming Turkey? Who is providing safe havens for ISIS. You have to ask questions about the arms everyone has sold in the region."

The Paris attackers were armed with AK-47s and identical suicide vests, while police seized a rocket launcher and a huge cache of weapons in terrorists raids in Lyon following the attack. Some are said to have been trained in Syria.

So where does Isis get its money, guns and bombs, both in Europe and in the Middle East?

To a large extent Isis is now funding itself – through oil sales, kidnap ransoms, smuggling, extortion, taxes, looting, bank robberies.

When it was starting out, Isis was ‘seed funded’ by wealthy donors –individuals and charities from across the Middle East, especially Saudi Arabia, Qatar and Kuwait.

At first, the governments of the Persian kingdoms openly gave money to the opponents of Syrian President Bashar al-Assad, including Isis. This has since become politically and diplomatically incorrect – but large amounts of money still finds its way to Isis from wealthy individuals from the Persian gulf.

Note EU-Digest: Wouldn't it be far more effective if the West and specially the US, which probably has the worlds most sophisticated surveillance and electronic spy network, also starts gathering information on who are buying ISIS commodities and where ISIS buys their weapons?  Nothing would work faster in stopping their maniactic activities than closing their access to financial sources and putting those who buy and sell from them in jail. Then again, this information could probably open a can of worms for the West?

Read More: Paris attacks: Where does Isis get its money and arms from? | World | News | The Independent

Sunday, November 15, 2015

US Economy: The decline and fall of America's working people - by Noah Smith

One big piece of news in the past couple of weeks has been the release of a new paper by recent economics Nobel-winner Angus Deaton and his co-author, Anne Case.

The paper highlights a very disturbing trend -- death rates are increasing for white people in America, especially for working-class, middle-aged whites. The increase looks like it has been going on since the late 1990s.

Among other American groups, such as Hispanics and blacks, mortality has fallen across all age and income groups during the past decade and a half.

The trend is concentrated among the less educated. For college-educated whites, mortality fell, much as it did for other racial groups and other nations. For those with some college, mortality was unchanged -- a poor result, but not disastrous. But for white Americans with no college education, deaths have soared.
Something very troubling and very unique is happening to American working-class whites.

The immediate causes of the increase are not hard to identify. Drugs and suicide are the culprits. There is an epidemic of prescription painkiller, alcohol and heroin abuse among American whites. Deaths from alcohol and drug poisoning among middle-class whites have skyrocketed. White suicide rates have also risen dramatically to more than 20 per 100,000 people in the 45-54 age cohort.


One big piece of news in the past couple of weeks has been the release of a new paper by recent economics Nobel-winner Angus Deaton and his co-author, Anne Case. The paper highlights a very disturbing trend -- death rates are increasing for white people in America, especially for working-class, middle-aged whites. The increase looks like it has been going on since the late 1990s.

Among other American groups, such as Hispanics and blacks, mortality has fallen across all age and income groups during the past decade and a half.


The trend is concentrated among the less educated. For college-educated whites, mortality fell, much as it did for other racial groups and other nations. For those with some college, mortality was unchanged -- a poor result, but not disastrous. But for white Americans with no college education, deaths have soared.
Something very troubling and very unique is happening to American working-class whites.

The immediate causes of the increase are not hard to identify. Drugs and suicide are the culprits. There is an epidemic of prescription painkiller, alcohol and heroin abuse among American whites. Deaths from alcohol and drug poisoning among middle-class whites have skyrocketed. White suicide rates have also risen dramatically to more than 20 per 100,000 people in the 45-54 age cohort.

Read more: http://www.lowellsun.com/news/ci_29120350/decline-and-fall-americas-working-people#ixzz3rbX1iQNr


Re

Wednesday, November 11, 2015

USA Presidential Election: Fourth Republican Debate showed Republican candidates are unprepared for a general election fought over the economy - by Jamelle Bouie

There are a few things we can get out of the way about Tuesday’s Republican presidential debate. First, after months of decline, Kentucky Sen. Rand Paul had his first great night, challenging Sen. Marco Rubio on tax expenditures and defense spending, pushing Donald Trump on the Trans-Pacific Partnership, and stepping into his father’s role as the libertarian gadfly in the race.

 “If you’re a profligate spender and you spend money in an unlimited fashion for the military, is that a conservative notion?” Paul asked in his closing statement. “We have to be conservative with all spending, domestic spending and welfare spending. I’m the only fiscal conservative on the stage.”

The GOP contenders were out of step with the actual economic needs of ordinary Americans. Each candidate talked about relief for workers and families, but outside of Rubio’s child tax credit, few offered it. Instead, candidates came out against raising the minimum wage, called for a new gold standard for currency, and pushed plans for massive upper-income tax cuts. Unlike the first Democratic debate—when Hillary Clinton, Bernie Sanders, Martin O’Malley, Jim Webb, and Lincoln Chafee tussled over college affordability and health care costs—there was little in the Republican debate that spoke to the challenges of ordinary people rather than businesses.*

Read more: Republican candidates aren’t prepared to argue over the economy in a general election: The GOP fourth debate revealed how little they understand about everyday economic issues.

Tuesday, November 10, 2015

US leads world toward economic crisis’ says Ron Paul

Dr. Ron Paul, the former congressman and US presidential candidate, says unless the United States shuts down the Federal Reserve System - the US central bank known as “the Fed” - the world will experience a major economic crisis.

Paul, the founder of the Ron Paul Institute for Peace and Prosperity, made the remarks in an article published on Monday while commenting on the US economy and the role the Federal Reserve plays in it.

“Allowing a secretive central bank to control monetary policy has resulting in an ever-expanding government, growing income inequality, a series of ever-worsening economic crises, and a steady erosion of the dollar’s purchasing power,” Dr. Paul wrote.

“Unless this system is changed, America, and the world, will soon experience a major economic crisis. It is time to finally audit, then end, the Fed.”

He called on the United States to restore a free-market monetary policy “to prevent the monetary system’s inevitable crash from causing a major economic crisis.”

The basic source of the economic trouble is America’s central banking system, which cannot function in a real market economy, he observed.  

“The failure of the Fed’s policies of massive money creation, corporate bailouts, and quantitative easing to produce economic growth is a sign that the fiat money system’s day of reckoning is near,” he predicted.

The Obama administration has given the Federal Reserve new powers to oversee the financial system and regulate it, but Paul believes there should be more transparency on the side of the government.

In 1983, the Texas Republican proposed legislation to audit the Federal Reserve, but it failed to gain much support at the time.

Read more: PressTV-‘US leads world toward economic crisis

Sunday, November 8, 2015

Estonia: The two Estonians who are taking on the banks at currency exchange

Kristo Kaarmann, one of the founders of peer-to-peer money sending firm TransferWise, has a glint in his eye as he recounts how the business he created with his friend Taavet Hinrikus has grown.

The firm, founded just four years ago, has already moved more than $4.5bn (£3bn) of customers' money across the world and employs 400 people in five offices globally.

Banks once had a near monopoly on this lucrative sector, where people send more than $500bn (£334bn) abroad each year.

But not anymore, according to Mr Hinrikus who says the banks "have fallen asleep".

"They have been quick to adopt modern technology to optimize the way things work internally, but when it comes to services for customers their processes haven't really changed for many decades."

Read more: The two Estonians taking on the banks at currency exchange - BBC News

Saturday, November 7, 2015

US Federal Reserve is right to raise interest rates, yet risk remains - by Larry Elliott

 Janet Yellen’s finger is poised over the button. The US Federal Reserve will finally take the plunge and raise interest rates when it meets again just before Christmas. The days when borrowing costs were kept at zero are coming to an end.

That was the interpretation Wall Street was putting on Friday’s news that the world’s biggest economy created 271,000 extra jobs in October and, barring a big domestic or global crisis in the next month or so, it is almost certainly the correct one.

US looks set for December interest rate rise after jobs boost
Read more

The reason for the heightened speculation about a Fed tightening was that the employment news did not so much exceed expectations as smash them.

After a couple of months in which employment growth had been disappointing, the markets were betting on non-farm payrolls – all sectors barring agriculture – increasing by 185,000 last month.

The number of jobs created in September was revised down a bit, but that was more than compensated for by the October increase and by two other pieces of information that will make the Fed think the labour market is getting stronger.

First, the unemployment rate edged down from 5.1% to 5%, within the range that the Fed categorises as full employment. Second, hourly wages were up by 0.4%, taking the year-on-year increase to 2.5%. That might not sound too impressive, and indeed is quite poor for a US economy now into the seventh year of recovery, but it is the strongest annual increase since 2009.

If the Fed moves next month, the search will be on for the next major central bank to raise rates. Given that the European Central Bank and the Bank of Japan are still increasing the amount of stimulus they are providing, every pronouncement by members of the Bank of England’s monetary policy committee will be scrutinized.

Read more: US Federal Reserve is right to raise interest rates, yet risk remains | Business | The Guardian

Friday, November 6, 2015

Banking Industry: Yellen: U.S. Banks Are Still a Risk to Financial Stabilityby- by David Francis

As the US economy gains strength, the near-collapse of the U.S. financial system after the fall of Lehman Brothers in 2008 is fading from the memories of most Americans. On Wednesday, Federal Reserve chief Janet Yellen warned the United States is still at risk of something similar happening again. 
 
Testifying before the House Financial Services Committee, Yellen said “substantial compliance and risk management issues” remain at some of the larger financial firms that the Fed regulates. She didn’t get into specifics, but her message to lawmakers was clear: Banks are healthier than they were at the start of the Great Recession, but they still aren’t in tip-top shape — and that poses a risk to the U.S. economy. 

“While we have seen some evidence of improved risk management, internal controls, and governance … compliance breakdowns in recent years have undermined confidence,” Yellen said in prepared testimony. She was speaking specifically of 16 large financial companies, including the biggest U.S. banks, that are overseen by the Fed. 

“[This] could have implications for financial stability, given the firms’ size, complexity, and interconnectedness,” Yellen said.

Read more: Yellen: U.S. Banks Are Still a Risk to Financial Stability | Foreign Policy

Thursday, November 5, 2015

US Economy: Dr. Doom, Marc Faber, calls bubble, adding to gloomy calls- by Leslie Shaffer

The Federal Reserve has inflated an asset bubble and that's going to damp market returns, perma-bear Marc Faber, publisher of The Gloom, Boom & Doom Report, told CNBC Tuesday.

Faber's remarks follow downbeat assessments from the likes of former Pimco co-chief executive Mohamed El-Erian and Nobel economics laureate Robert Shiller, who have recently spoken on the increasing odds of a US recession and frothiness in stock markets, respectively.

"The Fed has basically created with their colleagues in Japan and at the European Central Bank (ECB) and the Bank of England (BOE), they've created a colossal asset bubble. And the returns going forward will be disappointing."

Global central banks have created easy liquidity in markets via zero interest rate policies, and sometimes negative-rate policies, as well as through asset purchases. That's driven up prices across a range of assets.

Read more: Dr. Doom, Marc Faber, calls bubble, adding to gloomy calls

Tuesday, November 3, 2015

Germany - gadget leasing: ByeBuy Raises €1M To Make It Easier To Switch Gadgets - by Steve O'Hear

 German startup ByeBuy, which offers a pay-as-you-go and on-demand alternative to gadget ownership, has raised a €1 million seed round. Backers include Commerzbank subsidiary Main Incubator, in addition to Rocket Internet’s venture arm Global Founders Capital, Hannover Innovation Fund, KRW Schindler Investments, and previous investor Seedcamp.

The new capital will be used for a planned U.S expansion, as well as finding new ways to power what ByeBuy CEO and founder Michael Cassau, who was previously at Goldman Sachs and Rocket Internet, calls the “switching economy”. This will include partnering with online and offline retailers to offer ByeBuy as a checkout option.

Just as you don’t have to own a car to drive one, the startup wants to make gadget ownership a thing of the past, providing consumers with the option to consume the latest tech on a monthly rental basis with the advantage that they can switch or ‘upgrade’ at any time.

“We offer people the opportunity to enjoy their favourite items on a fully flexible pay-as-you-go basis and remove the high implicit and explicit cost of accessing cool products,” Cassau told TechCrunch back in June.

Since then ByeBuy has ratcheted up around 1,000 members and is available in 4 countries: U.K., Germany, Netherlands and Austria. It now lists 200 or so products on its site and Cassau says the startup is seeing “very strong traction across all asset classes,” citing the Apple Watch, iPhones, and MacBooks, along with the PS4/Xbox, e-health/fitness trackers and cameras as particularly strong products.

More interesting is the possibility of ByeBuy’s model being offered at online retailers and even traditional brick ‘n’ mortar stores. “This means for example you can see us soon as a payment alternative at your favourite consumer tech ecommerce store, where, in addition to credit card and PayPal, you may see ByeBuy as a new checkout option,” explains Cassau.

“A monthly price without any commitment instead of buying or committing to 3-year financings. We step in and buy it for you so you don’t you have to. Switch and send back at any time.”

Read more: ByeBuy Raises €1M To Make It Easier To Switch Gadgets | TechCrunch

E-Insurance: Making digitized policies mandatory will give e-insurance a boost - by Subbarao Mukkavilli

An insurance repository is a facility which allows policyholders to digitize their insurance policies or, in other words, hold their policies in a demat form.

The objective of creating insurance repositories was to help policyholders keep their insurance policies in
electronic form and to undertake changes, modifications and revisions in a policy with speed and accuracy.

This was aimed at bringing about efficiency, transparency and cost reduction in the issuance and maintenance of insurance policies.

After opting for this facility, policyholders can access their policies any time from their computer, mobile and tablet, and can also track the policy details, make renewal payments and initiate service requests.

Read more: Making digitized policies mandatory will give e-insurance a boost: Subbarao Mukkavilli, Karvy Insurance Repository - The Economic Times

Britain-EU: 12 reasons why Cameron will lose on Brexit – by Denis MacShane

Commentators on British affairs spend much of their time dwelling on Brexit these days; and while acknowledging the passion and verve of the Out camp, their consensus appears to be that the British are too pragmatic a people to tear down the European status quo. Here’s why the pundits are wrong, and why Britain will vote to leave the European Union in the forthcoming referendum called by Prime Minister David Cameron.

1. British history is different

Britain has not been invaded or occupied, or lost sovereignty to any foreign power, in centuries. When people like Alexander Stubb, Finland’s finance minister, tell the BBC that the EU has brought “peace, prosperity and security and there’s no price tag on that,” such soaring rhetoric may play well in countries that once were taken over by the Nazis or Soviets, but it sounds much too far-fetched and continental for the average Brit.

2. No-growth eurozone

Britain was pro-European from the 1950s to the 1980s when continental Europe had growth rates double or triple those of the U.K. Since the launch of the euro, however, the EU has been the slow coach of the global economy, comfortable but out-performed by North America and the BRICs, with all the exciting economic energy coming from Silicon Valley, Singapore, Apple, Samsung, and anything made-in-China. U.S. universities add economic value. European universities give us cause for philosophical introspection.

3. Britain’s off-shore media owners

Britain is unique in allowing its major newspapers to be owned by men who pay no tax in Britain and who dislike the EU. That’s their right, but as a result, the news coverage of Europe over 25 years has been skewed to crude misreporting and propaganda. Even the Guardian regularly runs pro-Brexit columns from its stars like Simon Jenkins or Owen Jones, the rising young-left writer. The BBC has turned Nigel Farage into a national hero by giving him unimpeded access to all major political discussion programs.

4. Tony Blair

The former Labour prime minister was pro-European, but he dodged all difficult European decisions. He offered a referendum on joining the euro, which meant the pound would never fold into the single currency. He offered a referendum on the EU constitutional treaty, which forced Jacques Chirac to do the same, and thus, with the help of a divided French Socialist Party, brought European integration to a full stop in 2005. Cameron has copied Blair by offering a referendum on Brexit. At least Blair was smarter. He bought time with referendum pledges but never actually held one.

5. The Tory party

From Churchill’s United States of Europe speech in 1946 through Edward Heath’s joining Europe in 1973 to Margaret Thatcher adopting majority voting and thus sharing sovereignty in the European Single Act of 1985 — initiatives all opposed by Labour — the Conservatives were the European party in Britain. Today, all top Tories proclaim themselves Euroskeptic. It has been impossible to be selected to be a Tory MP without swearing an oath of Euroskepticism to party militants.

6. Pro-EU campaign muddles

A dismissive Napoleon said England was a nation of shopkeepers, so the U.K. has found one: Stuart Rose. He began selling underwear in Marks and Spencer and rose to become Britain’s Number One shopkeeper and thus was seen as a natural choice to head the anti-Brexit campaign. But a few months before he featured as a star in the pro-Brexit “Business for Britain” organization, so the double-messaging is confusing.

7. Money

The Vote Leave campaign is drowning in cash, with £20 million raised already. Rich City types, Mayfair hedgies, online betting billionaires, and others sitting on cash piles who like access to top political personalities have funded endless Euroskeptic campaigns since the 1990s, ranging from Sir James Goldsmith’s Referendum Party to Lord Rodney Leach’s Open Europe think tank. By contrast the Remain or In campaigners are badly underfunded. Under the law on political donations, FTSE 100 firms that oppose Brexit cannot give money to political campaigns without a special shareholders’ meeting which CEOs do not want to call for fear of infiltration by UKIP and other anti-EU fanatics.

8. Brussels and Strasbourg

It’s not their fault, but the bigwigs of Brussels and orators of Strasbourg cut no ice in Britain. They are seen as over-bossy, over-greedy, and over there. Nigel Farage boasted on TV in 2009 that he had collected £2 million in expenses as an MEP, and ever since, MEPs have been seen as being on a rolling gravy train. At every meeting on Brexit someone asks why the U.K. should belong to an organization that cannot even audit its books properly. Most top EU leaders speak fluent “EU-nglish.” It is perfectly understandable. But in a nation that is taught by Shakespeare to mock foreign accents, being told to love Europe by non-natives doesn’t work.

9. Brits can have two votes

The most seductive line from the Out campaigners is that nothing much will change. The ambitious mayor of London, Boris Johnson, constantly tells anyone who will listen that the U.K. will “flourish” outside the EU. Others say that a Brexit vote will have a catalytic impact on a sclerotic EU that will finally accept British demands for reforms which return Europe to its earlier condition of sovereign nation-states. And then when Britain is offered a Europe it likes, a second referendum can take it back in.

10. Business

Employer outfits like the Confederation of British Industry, the British Chambers of Commerce, or the Institute of Directors have produced report after report in recent years criticizing the EU for red tape and supporting dialogue with trade unions. Business has told the prime minister he must get concessions from Brussels to weaken social Europe or special protectionist measures for the City. The sound of the CBI, BCC or IOD on Europe this century has been one long moan. Now they are panicking as they realize that their non-stop complaints about what Cameron calls the “bossy and bureaucratic” EU have been absorbed by their members, who may decide to vote down an outfit that British business has been so hostile to.

11. The liberal Left

It’s not just classic little Englander xenophobes who find fault with Europe. The Labour Party in Scotland last weekend voted to oppose TTIP, and for many of the leftish intelligentsia Europe is a wicked conspiracy to promote globalized capitalism with all power flowing to multinationals at the expense of workers. The Guardian recently gave a page to a leading TV economics reporter, Paul Mason, to denounce the treatment of Greece by Europe. Another totemic veteran of British leftism, Tariq Ali, gravely informed his readers that he would vote Out in Cameron’s plebiscite to show solidarity with the Greeks and their Syriza government. He did not seem to know that in the July referendum and September election, the Greeks voted Yes to Europe and then Yes to staying in the euro — so for British lefties to vote the U.K. out of Europe is solipsistic self-indulgence even by British leftie standards.

12. Europeans

The Brits, over the years, have been shaped by foreigners arriving from persecution or poverty — Protestants from France, Jews from Tsarist Russia and Nazi Germany, Poles and Hungarians from Communist tyranny, peasant laborers from Ireland and black, Muslim and Hindu citizens from the Commonwealth. But the enlargement of the EU to poor east and south-east European nations has seen a massive influx of 3 million new inhabitants in little more than a decade. They work hard, pay taxes, pay rent and fill churches. But for the average Brit, too many have arrived too fast, and so the cry to “regain control of our frontiers” resonates.

Denis MacShane is a former minister of Europe in Tony Blair’s Labour Government. He is the author of “Brexit: How Britain Will Leave Europe” (IB Tauris, 2015) and works as an adviser on European politics and policy in London and Brussels.

Read more: 12 reasons why Cameron will lose on Brexit – POLITICO

Monday, November 2, 2015

Eurozone prices and jobless data better, but still not good enough - by Alasdair Sandford

Prices in the eurozone were unchanged in October compared to the same period last year, according to an initial estimate by Eurostat.

In September prices fell by 0.1 percent year-on-year.

The only slight improvement to zero percent keeps up the pressure for more stimulus measures to accelerate price growth.

The prices of food,  alcohol and tobacco (+1.5 percent), services (+1.3 percent) and industrial goods (+0.4 percent) all increased, but the factor that prevented the overall figure from rising was energy – the cost of which was 8.7 percent down on the same period last year.

Read more: Eurozone prices and jobless data better, but still not good enough | euronews, economy

Sunday, November 1, 2015

EU: Energy Visions – Plugging the Carbon Leak: Emissions and Competitiveness

The EU has some of the most ambitious targets for greenhouse gas reductions in the developed world. But cutting emissions poses challenges for energy-intensive industries. The cost of pollution rights can affect a company’s global competitiveness and drive it to shift production to regions with less strict emissions limits – a trend known as carbon leakage.

Following an intense debate between legislators, regulators, industry and environmental campaigners about the risk of carbon leakage, the Commission unveiled plans in July to reduce the amount of free emissions allowances so that industry will have to pay more for the right to emit greenhouse gases. The Commission wants to increase the financial incentive for companies to lower carbon emissions as part of the move to a low-carbon economy. Part of the proceeds from selling emissions rights will be available to finance innovation to reduce carbon emissions from industrial processes.

At this event, senior policymakers and industry representatives will debate how much of a threat carbon leakage presents to the competitiveness of EU-based industries and the role innovation can play in cutting emissions.

Read more: Energy Visions – Plugging the Carbon Leak: Emissions and Competitiveness – POLITICO

Thursday, October 29, 2015

Insurance Industry’s Tech Progress is in the "stone age", says AVIVA boss - by Juliet Samuel

The insurance industry is in “the Stone Age” when it comes to using technology, says the head of one of the U.K.’s biggest insurers.

Mark Wilson, chief executive of Aviva PLC, said that the London-based life and general insurer has been hiring staff from Google and Amazon in order to update its technology. He said that Aviva’s customers would buy more insurance products if they were easily available online in forms that were easy to understand, something he believes investing in technology can deliver.

“I think insurance is in the Stone Age while other people are circling Mars,” he said. Aviva currently spends £100 million ($153 million) a year on technology, he added.

The insurance industry has often been behind banks in allowing customers to do business online. Aviva launched an application to allow customers to access their accounts on their mobile phones last year.

As well as marketing more products and dealing with customers online, insurers are investing in technology to change the way they process claims and monitor risk-taking. For example, several U.S. insurers have gained permission to use drones for such tasks as assessing damage of insured property.

The insurance industry is in “the Stone Age” when it comes to using technology, says the head of one of the U.K.’s biggest insurers.

Mark Wilson, chief executive of Aviva PLC, said that the London-based life and general insurer has been hiring staff from Google and Amazon in order to update its technology. He said that Aviva’s customers would buy more insurance products if they were easily available online in forms that were easy to understand, something he believes investing in technology can deliver.

“I think insurance is in the Stone Age while other people are circling Mars,” he said. Aviva currently spends £100 million ($153 million) a year on technology, he added.

The insurance industry has often been behind banks in allowing customers to do business online. Aviva launched an application to allow customers to access their accounts on their mobile phones last year.

As well as marketing more products and dealing with customers online, insurers are investing in technology to change the way they process claims and monitor risk-taking. For example, several U.S. insurers have gained permission to use drones for such tasks as assessing damage of insured property.

Insustry: Aviva Boss Slams Insurance Industry’s Tech Progress - WSJ

Wednesday, October 28, 2015

Investment Brokers: The Brokerage World Is Changing, Who Will Survive? - by Andre Cappon and Stephan Mignot,

Once upon a time, being a stockbroker was comfortable, genteel and lucrative.

In the “old world,” brokers, as members and owners, controlled the exchanges. Exchanges were run as quasi-non-profit clubs or utilities to support their members. Exchanges had monopoly on liquidity and brokers controlled access. By providing investors access to markets, brokers earned commissions and also received trading fee rebates from the exchange. A long time ago, brokerage commissions were even fixed (remember).

Brokers thus competed on the basis of service and relationships, rather than price.

The introduction of negotiated commissions in the U.S. in 1975 (eventually followed by most other markets in the world) marked the beginning of constantly increasing competition and challenges for brokers. In the last 10-15 years, this process accelerated.

Capital markets experienced a revolution driven by technology and radical change in market structure.

Electronic trading dramatically increased trading volumes and liquidity and slashed the cost of intermediation and broadened access to markets. Exchange demutualization led to a dilution of the status of exchange member.

 Access to liquidity was “democratized”.  Liquidity became fragmented among exchanges, alternative trading platforms, lit and dark pools and so on. Exchange “specialists” (market-makers) disappeared.

In many ways, brokers and exchanges now compete with each other: brokers may internalize order execution, they may use alternative exchanges or dark pools; established exchanges offer “direct market access” (DMA) and are occupying increasing space in the investment process, both pre-trade and post-trade.

The US and UK markets – New York, Chicago, London – are pretty much the “laboratory” for the securities industry worldwide. We shall draw on their experience to illustrate the evolution of the securities industry and extrapolate to other geographies.

The “sell-side” securities industry (i.e. the brokers), has been experiencing deteriorating economics, due to   pricing pressures, increasingly stringent regulation, and changes in market structure.

Life has become very tough for brokers.

Read more: The Brokerage World Is Changing, Who Will Survive? - Forbes

Cellular Phones: Apple says 30% of new iPhone buyers switched from Android

Last September, Apple CEO Tim Cook made a bold prediction.

After unveiling the iPhone 6 and 6 Plus to a packed theater of journalists in San Francisco, Cook told The Wall Street Journal that he expected the larger-screened phones to usher in “the mother of all upgrades.”
He turned out to be right.

Fast forward a little over a year later, and Apple just reported 48 million iPhones sold during its fourth fiscal quarter, beating its previous record for the same quarter last year.
In a new interview with the Journal, Cook attributed the iPhone's continued growth to a record number of Android defectors.

Owners of phones running Google's operating system switching to the iPhone isn't a new phenomenon — Apple saw a record number of switchers last quarter too. But for the first time, Cook revealed that 30% of new iPhone buyers came from Android.

Read more: Apple says 30% of new iPhone buyers switched from Android

Tuesday, October 27, 2015

Insurance Industry: Property and Liability Risks: "A Generation at Risk? Young Professionals in the 21st Century"

Many young adults unknowingly are jeopardizing their present and future financial well-being by not paying close enough attention to the broad range of property and liability risks they face, according to a new white paper from Chubb Personal Insurance. In addition, many young adults who still live in the family home also are exposing their parents to these risks.

The white paper, “A Generation at Risk? Young Professionals in the 21st Century,” explains the various exposures faced by more than 50 million Americans who are in their mid-twenties to mid-thirties.  It also encourages financial advisers to help these young adults  ̶  including some 15 million who earn more than $100,000 per year  ̶  protect their assets from theft, damage and litigation.

“Wealth advisers and financial planners have an enormous opportunity to focus on young adults, who make up approximately one-sixth of all Americans,” said Stacey Silipo, director of strategic partnerships at Chubb Personal Insurance and author of the paper. “In fact, advisers who work with independent insurance agents and brokers are in a unique position to conduct comprehensive risk analyses and help young professionals formulate holistic asset protection plans.”

According to the white paper, many young professionals:
* take part in the sharing economy regardless of potential risks;
*do not purchase renters’ insurance if they rent their home;
*are unconcerned about the possibility of identity theft and the potential dangers of using social media;
*fail to obtain sufficient excess liability insurance despite the variety of liability risks they face; and
*don’t procure travel insurance.

“Whether young professionals live on their own or with their parents, they would be well-served by seeking counsel from wealth advisers, financial planners and risk management professionals,” said Silipo. “And advisers who reach out to them through parents and friends and provide customized solutions will earn their trust and business.”

Insure-Digest

Monday, October 26, 2015

Netherlands Banking Industry - Dutch Banks even charge a fee when you put cash into your own account.

Whether it be out of laziness, ignorance, or on purpose, people and worst of all governments and politicians are not reacting to the fact that banks are ripping the public  off with charge's— and seem to forget that the seemingly insignificant charges can add up over time.

If you're using one of the traditional "big banks" you'll likely get hit with two fees if you don't use your own bank's teller machine: one  charge from the ATM for the privilege of withdrawing cash, and one from your own bank for going to another bank. It is rediculous, but no one does anything about it.

In the Netherlands, even when you go to your own bank and deposit cash at your own bank's teller machine (ATM) or over the counter, you will get charged a hefty fee after doing that 6 times. This is basically legalized "highway robbery" sanctioned by the government. When you dare to complain, however, to anyone at the your bank they will usually say: "those are our bank rules" en of story.

This is a situation which has gone completely out of hand. When will local governments or the EU finally establish some effective banking regulations, which serves the public and not only enrich the banking             industry ?

Insure-Digest

European Insurance Industry: How well prepared is the European Insurance Industry for the Solvency II rules?

British insurer Prudential PLC may shift its headquarters from London to Asia to escape new European Union regulations, the Sunday Times reported citing people familiar with the matter.

The so-called Solvency II rules, which take effect in January 2016, aim to ensure that insurers hold enough capital to honour policyholder commitments even when markets turn sour.

The paper, citing analysts, said Solvency II could slash Prudential’s reserves from 9 billion pounds ($13.66 billion) to 3 billion pounds.

This may prompt Prudential to sell its British operations or spin them off into a separate listed company and shift its headquarters to either Hong Kong or Singapore, the Times reported.

Asked by Reuters for comment, Prudential said: “We have always said that, as a large, international group, we regularly look at the structure of our business to ensure that it remains optimal. Solvency II will affect less than one fifth of our operations.”

Britain’s top insurance regulator said in July the country would not use the new EU insurance rules, as the system already has an appropriate amount of capital.

In September, Dutch insurers ASR, Aegon and Delta Lloyd warned that their capital buffers would fall sharply under the Solvency II rules, raising concerns over how well prepared the broader European industry is for the rules.how well prepared the broader European industry is for the rules.

Insure-Digest



Saturday, October 24, 2015

Netherlands office signs agreement to promote circular economy in Taiwan

The Netherlands Trade and Investment Office (NTIO) has signed an agreement with the Taiwan Circular Economy Network, a privately held foundation, to help transform Taiwan into a more competitive resource-efficient economy. 

The memorandum of understanding was reached last week by NTIO Representative Guy Wittich and Charles Huang, founder and chairman of the Taiwan Circular Economy Network, to jointly promote the concept of a "circular economy" in the next three years, the NTIO said in a statement.

The MOU recognized the two agencies' intention to share their knowledge and information to create circular economy opportunities and growth among Taiwan and Netherlands, said the NTIO, the main Dutch office in Taiwan in the absence of diplomatic ties.

The emphasis of the agreement will be on the application of commercialization of the circular economy in regard to business models, circular assessments, technical solutions and policy tools, according to the office.

Insure-Digest