36 Burst results for "Financial Times"
Fresh update on "financial times" discussed on Balance of Power
"The Financial Times conference quote climate change is not a financial risk that we need to worry about There's always some nut job telling me about the end of the world End quote HSBC disavowed the remarks saying they do not reflect the bank's views Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries I'm Mark crumpton This is Bloomberg David Thank you so much Mark Recession It's something we hear a lot about these days Is it coming What's the likelihood of a recession And if so when will it be here Well Matt Winkler editor in chief of America is here at Bloomberg has actually taken a look at the question and look at some of the numbers and has some answers to some of the questions about how likely it is So Matt thanks so much You've got this great piece on the Bloomberg today Take us through it Well first thing you do is since 2020 take a look at because we can We're a great aggregator a 150 news sources on the Bloomberg And we can see that the word inflation totally overwhelms strong economy In fact as inflation went up since 2020 strong economy went down Now the fact is as you well know we've got unemployment at pretty much a 50 year low We've got the economy still growing strong And here's the greatest part of it There are 77 economists who contribute forecasts to the Bloomberg routinely None of them see a recession in the next three years None of them see growth getting below 1% They see it 2% or more And they also see inflation ebbing from its high of 8% right now So just the context if you will of where we are where the economy is and where 77 economists is not an insignificant number Telling us this is what they expect So it's a bit of a disconnect and dichotomy from what the headlines say routinely even on the Bloomberg None of them see a recession next three years At the same time it's not a bipolar decision There's a bell curve to all of these things And most of the economists we talked to say the likelihood of a goes up as you get into year two and year three The next 12 months no not going to happen Maybe next year we have people saying maybe a third of a chance a half a chance things like that What's the distribution So what's interesting about our data in about The Economist forecast is not a one of the 56 quarterly forecasts if you like Economists make quarterly forecasts not a one Sees a contraction in this three year period That's over 7 quarters Not a one is actually suggesting that we're going to have runaway inflation like the scourge of the 1970s In fact they see inflation diminishing as we get further out two years from now three years from now To be a third of what it is currently So when you talk about distribution even there there's kind of an equanimity about the outlook that is just not apparent in this just in So man take a look at a different way which I know you've done which is history because that's another thing you do in the Bloomberg and look at past experiences And if you look back at past experiences there's some indication that there's reason to be concerned about a recession And we've seen a different ways in terms of how much the stock market has fallen It's fallen in that come back up We've also seen in terms of what happens when we have this level of unemployment at this level of inflation and you have to have the fun fed funds are great up that high History would indicate there may be a risk here Yeah although if you talk to our own economists they'll tell you that if you really want to be informed about where we are you probably have to go back to 1918 to win You had the Spanish flu So that's not going to be very helpful to you or anyone else at the moment because that's a long way away Having said all that there's a marked difference between where we are today and where we were in the 70s where we were at the end of the dotcom bubble which was the end of the 20th century where we were in the run up to the financial crisis Where we are today interest rates are very low They're so low that corporate America today has debt ratios that are probably the healthiest that they've been really any time in our lifetime And then you look at households again because interest rates are so low there isn't the leverage that there was leading to the financial crisis in 2008 So actually corporate America and household America are healthier from a debt perspective And you know historically it's the bond market that's canary in the coal mine With a bond market seems to be stabilizing some and actually bonds are back on a bid now But let me ask you one last question about that low interest rate We all like low interest rates That's great At the same time the difference between the interest rate and the inflation rate is an alarmingly high levels And some people are saying that's a real risk going forward because that means you've got to get the interest rate up a lot to get that inflation rate down Absolutely true except for one thing here is if people really were panicked about what you call the inflation adjusted or real interest rate you probably would see interest rates actually rising precipitously As they did in the 70s in fact interest rates as you well know are not that volatile by comparison And there's a reason for that The fed has said we're going to do whatever it takes to bring inflation down What that means in the market if you look at the yield curve from short term to long term is that there's still confidence in the Federal Reserve And as long as there's confidence in the Federal Reserve you're not going to see interest rates Soar to the extent that they did back in the 70s Well it's a fascinating piece and I really recommend it to bring some perspective to this discussion about recession Thank you so much to Matt Winkler He's Bloomberg news editor in chief emeritus Coming up stocks trying to recoup.
China Strapped With Economic Distress
"Financial Times reports this morning that international investors are selling Chinese debt at a record pace. They also report in the telegraph that the Chinese housing market has for the first time in decades gone backwards that they're not able to interest the average Chinese consumer in a small lot purchase in one of the minor cities, which is the canary in the coal mine there. Are we dealing with a potentially catastrophic economic situation in China, Bill haggerty, because that won't stay in China? China, China has got some major problems. I think part of it goes to the demographic situation there. You know they've got just this massive demographic hole because of their one child policy. And they've got an aging population at birth rate that's below replacement rate right now. And they're going to have a very difficult time maintaining support for the elderly population as it moves forward. You sort of you begin to see that manifest itself in the housing market. But I think it's the other reasons for this too. China is certainly going to this zero COVID policy because they have not vaccinated the mobile vulnerable people in their own population. That's caused massive shutdowns massive economic dislocation. That's very hard to recover from. And their way to recover from it in China is to make more infrastructure investment. Well, many of the Chinese infrastructure investments might be good ego projects for Chinese leadership, but they don't have a real economic value. So I think it's a misallocation of resources within the country. It's demographic problems. It's their reaction to the COVID pandemic, which had things been different in Wuhan, maybe not spread it. We might be in a very different place right now. So China is dealing with it in all fronts.
Ukraine Has Repelled Russia's Attempt to Cross Donbas River
"There is a story in the telegraph of Great Britain today. An entire battalion and again, I am not, I'm a civilian civilian, meaning I don't even know how to spell civilian, much less anything going on in the army. And the Russian army. But I know that when a battalion gets wiped out, trying to cross a river, that's not good for morale. So they tried to cross the river. It's in the telegraph, I tweeted it out. You should be following me on Twitter. And they got pushed back 20 clicks from 30 clicks, which in my mind I quickly estimate to be about 18 miles because the ten K is 6.2 miles and so 30 clicks must be about 18.6 miles. So Ukraine's are pushing back the Russians all over the place. They're in a static front in the Donbass, which is, you know, I couldn't draw the Donbass on a map. I know where Ukraine and Russia is, but it's part of Ukraine. And I couldn't get it right now where it is roughly. It doesn't get to Odessa. And only a part not a God, this is from the financial time. Military briefing can Ukraine push the Russian army from the country. Even that being written is something that's extraordinary.
US Spy Chief Warns Putin Is Preparing for 'Prolonged' War in Ukraine
"News. Vladimir Putin gearing up for a prolonged war and will not stop at the Donbass, according to the telegraph, the Financial Times hits the same note. Vladimir Putin preparing for a prolonged conflict in Ukraine, both of these are based upon statements by the director of national intelligence Avril Haines in the United States. The DNI is Avril Haines. He said we have assessed that Putin's just going to consolidate his gains in the Donbass and then push on. This has prompted his well, the prime minister of Poland to issue a statement, his name is Mauro weki, that Vladimir Putin is quote more dangerous than Adolf Hitler or Joseph Stalin because of his ideology and because of the weapons that he possesses.
Macron Moves Into Final Two of Presidential Race
"Macron managed to make it through to the final two against marine le pen in the French runoff. The result of Sunday's vote, according to the Financial Times, the le pen is closer than ever to winning power for the right in France, emulating the nationalist victories of Donald Trump in 2016 and Brexit in the UK 6 years ago. I don't know other than the fact that people just don't like Macron. All right, so that a poll of 1500 people show you had 52 to 48. Within the margin of air. And that would be stunning if le Patton, who began on the far right like her father in his move more towards the middle, previously supported Putin doesn't support Putin now. It would be a shock to the system if le pen wins, that that might shock Germany into consciousness as well.
Russian Soldiers Leave Trail of Violence in Ukraine
"Retreating Russian troops leave trail of carnage and keeps outskirts. This is from the Financial Times yesterday and it is hair raising and bone chilling, car shot up citizens with their hands tied reports of rape of women followed by their execution hundreds of war crimes committed by the Russians as they were driven back by the Ukrainian troops. In Keith suburb quote, they shot everyone they saw. This from The New York Times this morning, bucha. Am I saying that right, generally Samoa? I haven't heard it pronounced yet. But I haven't heard pronounced yet, but my guess would be buca.
War With Russia? Finland Has a Plan for That
"All right, now I want to get to this lesson out of Finland. Very good piece in the Financial Times this week where they were talking about how Finland has been dealing with the threat of Russia now for years. And it's pretty remarkable what they have been doing and what they continue to do. Let me quote from the story. If the worst fears of Europe are realized and the conflict in Ukraine spreads across the continent to other neighbors of Russia, then Finland will be ready. The article goes on to explain how it's got supplies. In fact, it's got 6 months of all major fuels and grains sitting in strategic stockpiles, good move. Good move, Finland. Pharmaceutical companies. They're obliged to have three to ten months worth of all imported drugs on hand. They're ready to use. It's got its civilian defenses, apparently all buildings above a certain size in Finland actually have to have their own bomb shelters, amazing, right? And it says the rest of the population could use underground car parks, ice rinks, swimming pools, which are all ready to be converted if need be. Think about that. Finland's really proactive on this front, apparently it has fighters, almost a third of the adult population is in the reserves. Imagine if a third of our population was in the reserves, meaning Finland can draw on one of its biggest military relatives, relative to its size, I should say in Europe. Again, according to the article, they do quote Finland's EU minister who says, well, we have prepared our society and have been training for this situation ever since the Second World War good for them.
NATO and Putin Are in a War of Totalitarianism
"There's two different types of totalitarianism believe it or not, that are kind of now being buttressed against each other. Putin said, quote, in 2019, he told the Financial Times of London newspaper that liberalism has become obsolete. He said children are quote taught that a boy can become a girl and vice versa. Is monstrous and Putin says is on the verge of a crime against humanity. Vladimir Putin also suggests that transgender rights supporters were demanding an end to basic things such as mother, mother, father, family, or gender differences. So you have NATO, which is more like nay wow, which like the North Atlantic woke organization, going up against a totalitarian despot, and so you have these kind of two different types of totalitarian impulse is going against one another.
British Publishers Censor Mention of Taiwan to Sell Books in China
"Trip off of this had to have forgotten man British publisher center mention of Taiwan in order to print books in China report, and this is the bottom line. Two British publishers have since your books in order to have them printed in China. Two people familiar with the matter told the Financial Times. This is a big story because what we're doing is we're losing, this is a, this is the western hemisphere. We're losing our influence. Don't you see what China is doing? Picture book publisher quarto deleted references to Taiwan and I we are way, way a descendant artist from Hong Kong in two different publications, another book was changed to refer to East Asian people in place of Taiwanese. The same publisher in 2020 released in New York Times Best Seller titled this book is antiracist, 20 lessons on how to wake up, take action and do the work. The publisher octopus books has also reportedly removed references to Taiwan from at least two books while the island nation of Taiwan fuse itself as an independent country.
Russia is Pulling Back Some Troops
"Russia says some troops withdrawing from Ukraine's border even as other major military exercises continue. Russian president Vladimir Putin signaled the he remains open to a diplomatic solution to the Russia NATO crisis over Ukraine. There is no crisis. There is just Putin. The Great Britain's telegraph confirms Russia Ukraine crisis Kremlin has begun pulling back trips from the Ukrainian border. The Financial Times confirms European stocks rise as Russia says it has pulled back some troops from near Ukraine. Russia is returning troops to their bases after military exercises were completed the defense ministry said on Tuesday, signaling some deescalation of the military build up.
The Biden Presidency Will Only Be Defined by These 3 Things
"And then the inflation story. They just keep coming. This from the Financial Times. Inflation is up it matters. High prices plague the Biden presidency. Look, luck look, look, look. The Biden presidency is going to be defined by inflation at home appeasement abroad, teachers unions first. That's the bumper sticker. Somebody make a T-shirt. Inflation at home, a peaceman abroad, teachers unions first. That's the Joe Biden presidency. That's all there is to it. That's all you have to remember, inflation at home, impeachment abroad, teacher genes first. That's it. That's what you got. You don't get a rebate for three years. You don't get to throw me. You get to throw every Democrat out.
"financial times" Discussed on Bloomberg Radio New York
"Replacing Sean Payton who left the organization after 15 years on the enchantment that your Bloomberg world sports outdate Markets headlines and breaking news 24 hours a day As Bloomberg dot com the Bloomberg business out and at Bloomberg quick take this is a Bloomberg business lash And I'm Juliet Sally in Singapore We check the markets every 15 minutes here on Bloomberg daybreak Asia just bringing you some news that in a video is said to be withdrawing from the acquisition of SoftBank's arm We are hearing that this is bowing to regulatory opposition and ending what would have been the chief industries largest deal The transaction collapsed on Monday according to an earlier report from the Financial Times this signing people with knowledge of the situation Bloomberg had already reported last month that in video was preparing to wind down the deal So thanks shares in Tokyo slightly softer separately armed CEO Simon Sega's is stepping down and will be replaced rather by Rene Haas Sega's was one of arm's first employees and apparently worked his way up through the ranks to become CEO in 2013 He continued to lead the company after it was acquired by SoftBank in 2016 Asian stocks meanwhile looking pretty good in early trade despite another late dip in U.S. shares we saw Wall Street reversing gains rather in the last hour of trading This was dragged down by tech stocks similar to what you saw in the Asian session on Monday Alibaba had dragged down the hanging tech index and we saw Alibaba ADRs tumble in the U.S. to this after city indicated that SoftBank could be selling off some of its shares The ASX 200 is up 1% in Sydney as is South Korea's Cosby the nikkei in Tokyo is up 6 tenths of 1% We are watching oil stating above $91 both is now talking turning rather two days Iran nuclear talks WTI crude futures though did drop more than 1% on Monday after that rally that took crude to a 7 year high took of course The U.S. ten year at 1.92% Let's get over to San Francisco now for a chance of delivering news Ahead All right hey Juliet Hong Kong's reported a record number of code infections cases doubling every three days executive council meeting today could reimplement some very tight restrictions now ahead of that meeting Saint Tao is reporting the plan will be to.
China Lockdowns Should Give Olympic Athletes Pause
"Earlier this morning, Reuters reported what was in the Financial Times last night that they have locked down additional cities in China, including Tianjin, which is 62 miles from Beijing, zhengzhou, and Yang Jian and uzo. They say it's a Macron. I don't know we can believe on anything. Do you think Olympians ought to be going there? If I were an Olympian, I would be taken a deep breath before I'd go there. And let's face it, China is going to use the one tool that they have used consistently through this whole thing, which is massive authoritarian techniques. Everything from massive lockdowns of huge cities, economic isolations, all of that.
"financial times" Discussed on Bloomberg Radio New York
"And steered the firm through the 2008 financial crisis and the Great Recession that followed He's twice been named one of the world's most influential people by Time Magazine and he won the Financial Times person of the year award in 2009 Now Lloyd blankfein spends his time as the former CEO of Goldman Sachs which leaves us all wondering what comes next Well I sat down with blank by an earlier this year to discuss just that Listen in So you're not going to be a consultant You're probably not going to be treasuries I think I'm not I'm probably not going to be a surgeon at this point or nuclear scientist But you're 67 you swim every day you're in good health What's next I don't worry about it I don't worry about it I'm not Look I'm also a market guy I have been I'm saying that's not how necessarily I live the last 20 years of my career at Goldman But it's an occupational hazard that I know the price of everything at times And so I occupy myself with markets in the background In the last couple of years I trade a lot Do you I do In your personal account I do If I do something differently forget I said this and wiped out the tape But I didn't really want to look at people and be managing their money And express regret because God forbid you should lose money but God forbid a lesser included God forbid is that you underperform somebody else who made more money or be on that kind of track And I'm saying do I really need to do that now And so I do my own stuff for myself My whole life I would rather much rather have lost my money than lose somebody else's money And so that's just the way that's just my wiring What are you trading I trade equities have traded some commodities I've traded currency from time to time You have fun I have more fun when it's successful and I'm winning Tell me a little bit about your track record Brilliant Come on Well in the period of this started look I couldn't do any of this stuff while I was still at Goldman or left that at the end of 18 So beginning of 19 Everybody who started in the markets at the beginning of 19 is a genius Because the markets have gone one way Now that doesn't mean on any given day You can look back at a curve and say GE that was an easy period but when you're living through it you don't know what the next day is in hindsight Of course everything is easy But really looking backwards there wasn't there wasn't a lot of there wasn't a lot of stress And then this goes and this has been much discussed that asset prices were being inflated during this period so anybody who invested in almost anything There are some things that didn't go up and certainly there are always things that don't go up on the whole asset prices Zero interest rates make asset prices go up What are you some of your winningest trades Oh come on I mean I just I mean boring as it is investing in the new economy I don't want to say tech but let's say tech and the kind of companies and industries that are tech enabled Innovation and brace it Now of course it's innovation You don't like to say tech because I think tech is I mean I think to be a retailer it means you have to be as adept as Amazon was and Walmart has become to just be a retailer or to be a car manufacturer you have to be on the cutting edge or else you'll be a bankrupt car manufacturer And so everything success at this point embeds innovation and technology Now I'm curious to know how you do this Do you do the old fashioned way You pick up the phone you talk to a financial adviser perhaps that person is a Goldman Sachs Or do you pull out your smartphone and trade on Robinhood No I don't trade on I'm loyal to my old firm So I don't I haven't traded but I don't disparage it It's not something I do I have certain kind of pathways that have been operating for a long time And I stay on them I like look again occupational hazards I still wake up in the middle of the night and look at prices even though I may not be involved because I look for 40 years My first my first job at Gorman was trading precious metals and currencies And so guess what 24 hours on the screens And so those are habits that are hard that don't die easily And I'm not sure I want them to I think it's kind of fun In the middle of the night when you wake up and check prices what's the first price you check I look at I look at equities futures and I look at currencies and I look at the things that are interesting at different times Energy prices are interesting And so I look at a look at energy prices It's not a big deal It's some people hobby some people get on football games Do you do this every day or is this sort of a $1000 I would say every day Yeah I'm the 7 many times a day Again I'm used to I grew up with the background noise of markets and risk I always knew what our positions were and I always wanted to know whether they were going well or poorly And I had a role to play Before I before I was presidency I was responsible for sales and trading first earlier in my career just the currency and commodities and later currency and commodities and fixed income and then after that currency commodity fixed income in the equities And so the whole and so again it was what I did And no one could do that for very long if you don't like doing it True enough There's a whole new generation of kids who are just as addicted to markets as you are and they're on WallStreetBets and they've got diamond hands on GameStop and AMC and hertz and you name the meme stock Do you think that's healthy I.
Manchin Casts Doubt on Biden’s Social Policy Bill
"Headline White House scrambles to salvage build back better Bill by Christmas. Now the Financial Times described as a 1.75 trillion, it's not. According to the congressional budget office, it's a $5 trillion bill. If you do what all Congress is doing, which is extend their one year programs and blow through their deadlines unless they have sunsets in them. So it's not 1.75. It's trip 5 trillion, and that's backed up by the Penn Wharton school analysis. Again, if you say, oh, this is a one year Bill. And we're going to end all these programs. We start, yeah, it's 2 trillion them, but it's not. It's 5 trillion and Joe Manchin stopped in the hallway. And according to The New York Times, he said that they need to pause for peace. He said that anything is possible here, and he's still engaged in conversations with The White House, but listen for yourself. Joe Manchin talking to CNN's Manu Raju yesterday cut number ten. But whatever we're considering doing or whatever Congress is considering to only should do it within the limits of what we can afford. And that means having a tax plan that's fair and equitable and keeps us competitive, but also makes everyone pay especially the wealthy pay their fair share too. See what that spins off and that's one 7 range then we should be spending whatever in that range as far as I'm concerned if it's whatever planet would be pre-K, child care and what you want in home care, then it should be ten years. It shouldn't just be one year three years or 5 years. And that would be, I think it would be very transparent for the puppy to see exactly what they'd be getting for what we're spending for ten years. So you won't support it if it needs programs or temporary. No, we're going to talk. We're still talking. I'm listening to everybody, but I'm just telling you you ask me about inflation is not transitory. It's alarming. It's going up and not down. And I think that should be something concerned about. Inflation is real. It's not transitory. It's going up, not down, that something we should be concerned about. And senator
Trevor Noah: Moderna Chief Not a Source You Should Trust
"Day. Trevor, Noah gets the dummy today. Now I've long said, you take Bill Mars earpiece off. You take Trevor Noah's earpiece off. John Stuart any of them. Gobert, you put them in a room with a smart man or woman who's well read, and you'll let him talk for two hours. There will be nothing left but ribbons of them. There will be cut to pieces. By anyone who knows their way around a set of facts and how to argue. They're not that bad. They're not smart. They're funny, and they have good timing, they're good comics. But Trevor Noah is a moron. Cut number 21. And while most of the world is willing to wait and see, at least one person feels comfortable about making predictions, the Moderna CEO told the Financial Times he expects the existing vaccines to be less effective against the new variant of COVID. I think it's going to be a material drop. This was on vaccine efficacy. I just don't know how much because we still need to wait for the data, but all the scientists I've spoken to are saying this is not going to be good. So on the one hand, almost all the only cron cases have been mild so far. But on the other hand, the guy who stands to gain millions of dollars from new vaccines says we need new vaccines. Huh. If we don't make a new vaccine, this disease could be with us Ferrari. I mean forever. Sorry, I was thinking of something else. Now, look, I'm not saying that the CEO of Moderna is lying. I'm not saying that at all. I'm just saying, I don't think he's the most objective source on this topic, you know? I'll wait to hear what neutral experts say about a new vaccine. People like public health officials or the CEO of Johnson & Johnson. I mean, he's got nothing a game 'cause nobody's gonna buy his vaccines either way, so I trust him. And also, if we do need a new vaccine for this new variant, it's not a big deal. All right, people. I see people online being like, we're going to get a new shot every year. There's no way. Yeah, yeah, you know what? Maybe to not die, you might need to take 15 minutes out of your year.
Moderna Chief Predicts Existing Vaccines Will Struggle With Omicron
"Minutes ago, the Financial Times reported that the Moderna chief announced in a chief executive that existing vaccines will be much less effective at tackling on the earlier strains of the coronavirus, and warned it would take months before pharmaceutical companies could manufacture a new variant specific jab at scale. Have you heard that before? No, news to me. News to me as well. What does that say to you about deputy president klain Doctor Fauci's Collins and walensky? Well, some of this I think is sort of understandable human error. When you believe, perhaps for ideological reasons, that something will work and you begin to get proof that it doesn't work, you're immediate prescription is to do more of that thing. And I think that while vaccinations did offer, I think provably offer a lot of protection to the millions of Americans who got them. It's impossible to call them anything other than disappointment in the sense that most Americans thought of vaccines as some of the sort of famous vaccines that we know of where you get the vaccine and then you don't get the disease. And perhaps you're given protection your offered protection for the rest of your life. And now we have a vaccine in which you can get the disease. You can spread the disease and the protection last maybe 6 months. So I think while I thought, at the time that the development of the vaccine in such a short period of time was president Trump's perhaps greatest achievement as he left office. You have to say now it's a much more complicated picture and people are disappointed by what the vaccines turned out to be.
"financial times" Discussed on WNYC 93.9 FM
"Stock index futures are down this morning -421 points for the Dow future 1.2% The S&P future is down 1% The NASDAQ future is down half a percent Investors appear to be rattled by comments from the chief executive of the COVID vaccine maker Moderna marketplaces nova safa was here with more on this David those comments published in the Financial Times newspaper Moderna's CEO Stephan Benson warning that we're likely to see in his words a material drop in the effectiveness of current COVID vaccines against the new Akron variant Now we also heard this yesterday from both Pfizer and Moderna that the likelihood is current vaccines won't be as effective against a Macron as they've been against other variants like delta But those specific words from ban cell David today a material drop in effectiveness those words appear to be spooking markets today Still some could see this as a CEO of a vaccine maker talking about needing to sell more vaccines at a time that the study of this variant has just begun Well right Certainly scientists have cautioned that it's going to take a few weeks before we begin to understand the automotive variant And benzo has said that too but investors are also hearing from Regeneron this morning David Now that drug maker says it expects its COVID antibody treatment to also be less effective We're also hearing from fetch our Jerome Powell in prepared remarks to the Senate banking committee He says this variant could slow the economy So that's a lot for markets to absorb this morning Yeah nova thank you They're selling stocks in Europe this morning the Dax index in Germany is down one and a half percent Amsterdam is down 1% The end of year philanthropy season kicks off with the day for donating to the causes of your choice It is giving Tuesday but many are planning to cut back on their charitable giving this year according to a survey by eagle hill consulting marketplaces of NMR reports this comes after Americans donated record amounts in the early days of the pandemic Charitable giving in America reached a record $471 billion in 2020 a year that brought a global pandemic and economic crisis and protests for racial justice All three factors contributed to an expansion in generosity Oona ossoli is a Professor of philanthropy at Indiana University She says the rise in individual giving came from better off households that were insulated from the years economic shocks They socked away stimulus money cut some discretionary spending and donated more In addition to that there were opportunities to give And increased need in many communities That need hasn't gone away but economic conditions have changed Jacob Harold is with the nonprofit candid which itself tracks the nonprofit sector I think we will continue to see real generosity I don't know if it will match what we saw last year Between rising consumer prices and labor costs individual and corporate donors might be inclined to hold on to more of their money I'm Savannah marr for marketplace.
The Ivy League Doesn't Just Train Tyrants for Our Oligarchy...
"John, smear, you've got a thousand articles that stream dot org. What should we talk about now? Well, I have a piece I did with our good friend Jason Jones and the title is the Ivy League doesn't just train tyrants for our oligarchy. Harvard is churning out commandants for Uighur concentration camp. Okay, not a joke. This is serious. Jason Jones is a hero, what do you say in the article about what I believe is doing? Well, the Financial Times reported and the daily caller reprinted. Two officials who oversee detention camps accused committing genocide against Uyghur Muslims in Zhang China previously received fellowships from Harvard University, the Financial Times reported. They studied at the Harvard University's center for democratic governance and innovation while pursuing a doctorate. We were asked center. Yes. ASH center for democratic governance and innovation. Doesn't that sound like a nice, happy, clappy thing, democratic governance and Internet innovation? Well, when you hear happy phrases like that, on the lips of Harvard people, what they really mean is genocide camps in China for Christians and Muslims who won't tow the government
"financial times" Discussed on Bloomberg Radio New York
"Right Charlie thank you so much So we are living in an $11 trillion index frenzy Some say it's money management on autopilot with dumb cash blindly chasing companies on the way up and down others say it's lower no fees and transparency that make it the better bet But either way it's big business It is Robin wigglesworth is global finance correspondent at the Financial Times and he joins us now on the phone from Norway He's also the author of the new book trillions how a band of Wall Street renegades invented the index fund and changed finance forever Robin it's great to have you on the show Start off by just giving us a quick idea of how big the index fund industry has grown in just a really short time when you think about markets Well I mean thanks for having me on First of all it's colossal The only way of describing it Do you think the 11 trillion that we know about in the U.S. Increasing by almost a trillion a year But if you throw in the global index fund universe we're talking 17 $18 trillion globally And that's actually only the actual formal funds that we know about It include in-house strategy index tracking strategy that places like problem well from a lot of big pension plans and insurance companies will do this announced as well We're talking IFM may based on to cobbling together various the data sources But $26 trillion globally So that's of course that it could be a huge number That's twice as big as the combined hedge fund product equity in Mexico industry's put together Yeah and now you can count Harry and Meghan because they're building their own index as well as well in the ESG space We just talked about that story earlier You know Robin I got to say I began my business broadcast career at financial news network I produced two mutual fund shows they were what the world was about And at that point a lot of funds had fees It was strategies It was categories It was all about the act of fund manager making the call What happened to get us to a world today where there are now as you say 26 trillion globally in index funds Well if we turn the flock back to the 60s For a long period whenever there was a big downturn let's say The Great Depression the big crash then people were disappointed with how their professional money mans it did It was a lot scandals around investment trusts after 1929 for example But broadly speaking people didn't really know what the overall stock market did We just couldn't calculate that we had indices like the Dow Jones Industrial Average but not really historical basically tired stock market You just didn't know what to do in the long run So you didn't know how well your fundamentals are dead against them And you can really buy the market average anyway which was always the refrain In the 16 the computer finally emerged on Wall Street that may be more importantly at certain economics departments So this sudden bound of academic research into what the stock market yielded Ironically the biggest study done in 1964 by the universal Chicago body to really eccentric the Jim Lori was Merrill Merrill Lynch at the time wanted to sell stocks to ordinary people and say that they stopped return more than bonds in the long run But the SEC said no you can't do that unless you prove that stocks do better than bonds in the long run So that will the genesis And once they have this result it's called crisp Research will security prices they could actually show that actually active lenses did a poor job And that sort of the origin moment where all the index funds started flowing out because people realized actually the average active manager does badly So Robin I want to chat with you about how this has been on net net a really good thing for investors and then we're going to come back with you in a few minutes and talk more about how it could be not so good at the same time So I want to start with the why it's been so great for the average investor Well it's costs I mean Jack bogle who ran one of the biggest investment groups in the world and made large on indexing He wasn't a big fan of the efficient market hypothesis but he said he was a big fan of the cost natural hypothesis And broadly speaking for long-term savers in a cost compound as well just like returns And in the 2037 statement period the difference between paying a full basis points to Vanguard or one or 2% in active manager is monumental So I've seen SEP has done some research and they calculated 375 $1 billion saved by U.S. ambassadors over the past 2030 years And that is the direct savings in setting aside the fact that there's a performance advantage in active in the long run and indirectly the average cost of mutual fund and even hedge funds has formed by a further of the past three decades Right That is for knowledge expense because of competitive pressures from index funds Hey Robin hang on for a second We're going to do a little bit of news but we're going to come back and continue with you We are talking with Robin wigglesworth Global finance correspondent financial times his book out is all entitled trillions In the meantime let's go to check the latest world in national news Nancy.
"financial times" Discussed on Bloomberg Radio New York
"Takes a break it pulls back a little bit after its recent run and now trades it just under $57,000 per token Let's get some more color on those equity markets this morning with Bloomberg's stock editor Dave Wilson David what are you looking at Let's start with GlaxoSmithKline Paul The UK drugmaker up 3% in U.S. trading People with knowledge of the matter said glaxo was a consumer business That's a big deal It is I mean it's attracting interest from private equity firms They said the unit could be valued The people that is at $54 billion or more in a deal Now COVID is working COVID Working to take the unit public I'm thinking COVID right Because black so his working with the German company cure vac on vaccines The cure vac is down 14% The company abandoned its proposed first generation shot in favor of working on second generation candidates along with glaxo So there you go I should just note since we're talking about COVID vaccines that occupy smaller company up 9% It's working with India's bar at BioTech on a vaccine and Indian panel recommended emergency use authorization for that shot to be used in children aged two to 18 Okay So you're talking about expanding the market And marks up 1% Speaking of expansion the drug makers plan to double production capacity for its proposed COVID-19 pill next year That's according to Financial Times which cited an interview with Merck the company filed with U.S. regulators yesterday for emergency clearance of the drug And yes earnings season is here Oh boy here we go Yes indeed First company in the S&P 500 to report fasten all the shares aren't doing all that much A quarter of a percent gain maybe The industrial distributor set a gross spur tied to the COVID-19 pandemic was fading It's same time It's earnings of sales for the quarter Pretty much in line with analysts average estimates of the Bloomberg survey Events were not so lucky in a sense The shares are down three and a half percent Now the lab suppliers lower even though preliminary third quarter revenue was in line with estimates So we've got to find out what's going on there just some concern perhaps about how the business is going forward Quick analysts calls a note Nike.
Dozens of Afghan Women Rescued From Kabul
"I want to begin your weekend. Perhaps with a story of heroism before going to the reality of our shame. The story of heroism comes from the great. Britain's telegraph newspaper. I read in the morning is the financial times the second at the telegraph. Then the times of israel. Then i get to the american papers. They only started earlier right so they're hours ahead of us for the news cycles. A little bit more developed this story. I got yesterday afternoon from a friend. Sent this to me. So i cannot claim credit for having spotted it. It showed up last night. I put it online. It went everywhere. And i've reposted it because it just makes you realize heroes. We have lots of heroes in the united states especially in the military who and and the police force and the firefighters. We celebrate them on september eleventh. Then we forget them too. Often we celebrate them on memorial weekend and on veterans day. And then forget them. But i'll tell ya every day in the world they're heroes. The headline of this doesn't of afghan women rescued from kabul in the first ever the first ever israeli emirati aid mission. Remember a year ago. Donald trump presided over the abraham accords. That the united arab emirates and israel signed bringing a warm peace in the middle east followed soon by bahrain and other countries. The story reaches really aid. Workers and the united arab emirates have completed a daring rescue mission that saw dozens of sportswomen female rights activists and a singer at risk of taliban reprisal spirited to safety inaba the nail biting evacuation use local contacts together forty-one afghans from various locations in kabul. And then bust them through taliban checkpoints and over the northern border into tajekistan before flying to the united arab emirates the israeli emirati mission which happened earlier. This month is the first joint humanitarian project between the two middle eastern countries and is part of growing cooperation following the signing of the abraham cords last year which normalized relations
Telegram Emerges as New Dark Web for Cyber Criminals
"Of course is has been highlighted over the last number of months as being a platform of choice of people that are Organizing events to protest against locked on or other things but the demonization of t. Telegram is continuing appears here with the financial times plus a cybersecurity company producing the information. That box up this article telegram emerges as a new dark web for cybercriminals. So we've got to shut tub telegram dying straightaway thought signal. Was the dark web for this week. It's telegram this week. It's telegram so this was an investigation by cyber intelligence group cyber and together with financial times. And they say that they find a ballooning network of hackers sharing data leaks on the popular messaging platform sometimes and channels with tens of thousands of subscribers lured by its ease of use and light touch moderation and many kisses. The call ted resembled that of the markup is find the dark web a group of hidden websites that are popular amongst hackers accessed using specific analyzing software We have been recently witnessing a one hundred percent rise and telegram use usage by cyber criminals. said cyber and so We've got to shut down straightaway away or at least bring it under the The online harms legislation. And make sure that it's Well regulated or make. Sure the telegram put some kind of back door in there so that The uk intelligence agencies can easily access
America Has Abandoned the Women of Afghanistan
"Over the weekend if you watch the solemn proceedings and shanksville. Your concerns grew about the infirmity of president biden. And i believe that. Those concerns are now feeling concerns. The effort to get americans and afghans allies out of afghanistan will falter because it draws attention to the president. And they're doing everything they can to get attention off of the president. Do you think he's infirm. One eight hundred five two one two three four. I do not believe dementia. I do not believe alzheimer's. I just think he's very much evidencing. His almost seventy nine years and that this is hurting america. Badly the news out of afghanistan with terrible all weekend long that toledo's announced new rules for female students. The not going with the blue burqas. If you go to my twitter feed you'll see they're going with all black from head to toe with an slit covering the same thing that isis war. The telegraph in great britain headline in taliban parade women in hooded veils to block vision. There is one story exactly one story in the financial times that was picked up by the washington post an afghan american woman that means she's just un-american and her escape be a secret of cia. One got one story over the weekend. The post notes that space for dissent opening afghanistan after taliban out to twenty years ago now the militants are trying to slam it. Shut trying not the word killing people there. murdering people. the wall street journal has an elite editorial. Those still left behind and afghanistan. That's where my focus is. We have left people behind one person. Play the tape of this later. Believe one on one group in the united states believe we left twenty thousand americans and green card colder green card holders behind
"financial times" Discussed on Liberty Talk FM
"It tells the Financial times his company will not be able to apply for emerges to use the authorization with the FDA until late November at the earliest, and that approval for widespread public distribution is unlikely until next spring Boxes. Jonathan Serrie Amazon says Nearly 20,000 of its workers have tested positive or presumed positive for the virus, but the company says the infection rate of its employees Is well below that of the general population of the US when it's compared its infection rate to data from Johns Hopkins University, and it says it's conducting thousands of test today. This is House Speaker Nancy Pelosi says there will be no deal tonight between House Democrats in the White House and a new round of Corona virus will leave. She and Treasury Secretary Steve Mnuchin spoke by phone several times today. President Trump, sounding off on proposed changes to the upcoming debates, the president tweeting Why would I allow the debate commission to change the rules for the 2nd and 3rd debates when I easily one last time? The tweet coming in the wake of news that the commission on presidential debates is considering format changes for the remaining debates after Tuesday night's chaotic face off, in which President Trump repeatedly disregarded the rules? In a statement, the commission saying the debate made clear that additional structure should be added to the format of the remaining debates to ensure a more orderly discussion of the issues at the White House. John Decker Fox News America is listening to Fox News. Some adjusting. You pay your car insurance premium like clockwork. Month after month, year after year. Then one night, you hydroplane into a ditch. Surprised your insurance company tells you to pay up again. Why pay for insurance if you have to pay even more for using it. If you have Liberty Mutual deductible fund, you could pay no deductible. It all sign up to immediately lower your deductible by $100 and keep flooring in $100 annually until it's gone. Then continue to.
"financial times" Discussed on KTAR 92.3FM
"Know recently Financial Times named our financial advisory firm one of the top three hundred and we're very proud of that obviously but we know that without our beloved and most valued clients we would be nowhere and so we thank you all your clients we love you we we are so grateful that you have us and if you're not a client as I said our website our P. O. A. dot com and we have two goals one is for your money to last as long as you do and secondly we wanted to have financial peace of mind and also to do those two goals we believe that protection of principle is an extremely important part of your retirement planning and so we have a strategy that is called invest and protect and this is a strategy that that that helps us to eight it guides us to tells us when it's time to sell when it's time to buy and is you guys may know we said the cell in early March when it that just before the actual pandemic was announced that the day before believe it or not didn't know it was going to call the pandemic at the time and of course the market has rebounded since then and our buy signal came the week before last and we did buy it back but we bought back very very conservatively we only went in with ten percent of our equity allocation so what that means is that if the client is a sixty stock forty bond portfolio client we went in with ten percent of the sixty which means we went in with only six percent of their of the part of the total so we're being very conservative and the reason why is because where were brave sellers okay what I mean by that is that when our strategy says the cell were very brave about that because once we've sold we know what we have and we know we've consolidated and we don't have to worry anymore about any further losses so for us that's that's a win however when we buy it's not the same because when you go in to go back down again and then you could lose on that and so we're very cautious buyers when that happened so we're brave on the sell side were cautious on but on the buy side but as you know if you listen the first act of the show we don't think that this this bear market is over we think the rally that just came before it is a bear market rally and we think we're going to see the market go back down from here the S. and P. five hundred index now be that as it may our philosophy of invest and protect is counter to the philosophy of buy and hold so buy and hold says that you buy a quality group of investments and you rebalance them periodically and you just stay the course and everything takes care of itself now we have a problem with that because you know for example in Y. two K. two thousand eight the Great Depression even a diversified portfolio of good quality stocks and bonds and all that could have taken significant losses and somebody was retired we believe does not want to take significant losses because your investments are what generate your retirement income for you they are the engine of that in most cases and if you see a significant loss in that then that means that the amount of income that you can draw could be reduced significantly as well and we don't want all that to happen for clients because that doesn't equate to financial peace of mind or your money last as long as you do okay so that's how it all works out one of the criticisms to our strategy that we've heard is that it and I call it by hold myth number five which is you won't make any money if you sell into sitting cash okay so let's examine that now first of all over the last ten years or so we have been when it comes to interest rates in an anomalous period okay so if you go back in history we have had too many periods where interest rates were zero or thereabouts like they have done so this is a very anomalous time for being in cash and making you know almost no money in prior periods for example in the in the terrible bear markets in the eighties and seventies interest rates were far higher and you could make money sitting in cash so but right now it's very difficult to make money in cash and therefore that argument here's my counter that we counsel our clients to Mary both our our strategy but also a four percent withdrawal rate meaning that we don't like it if our clients are taken out more than four percent of their portfolio okay so let's assume that you are doing that you're taking four percent so I'm gonna use my favorite number which you all know is one million dollars okay like was the name of Austin powers the US one million dollars so that's our favorite number so we're gonna use that and let's say that you're gonna take out four percent each year so that means you're gonna take forty thousand dollars out each year okay let's make it let's make the numbers far let's say you're doing a hundred if you have a hundred dollars and you're gonna take four percent which means four.
"financial times" Discussed on WSB-AM
"It's a big story in the Financial Times today is writing about how a lot of the failures the bankruptcy filings a variety of companies retailers hertz rent a car a bunch of others that normally when a company files for bankruptcy the stock gets widow's delisted and the value of the stock goes to near zero but this time even more so than in the last two cycles this happened small investors are bidding up the stocks of bankrupt companies all across the all across the horizon of the people in bankruptcy right now and so in one day one of the energy company's jumped a hundred and eighty percent value hurts has jumped eight hundred percent in value all based on speculative buying by small investors a lot of people on Robin Hood buying stocks more heavily in bankrupt companies reportedly over the last few days then in traditional companies that are operating as normal I don't know where this psychology has taken hold that the greatest place to make a big score is buying the stocks of bankrupt companies but if you want to start talking about incredible speculative risk buying any stock in any bankrupt company is it here's why when a company goes bankrupt they go bankrupt because they always tremendous amount of money to other people and they have to try to either work out a plan where the people they owe money to generally take over the enterprise or they end up with quick date very rarely do people who own the stock of a company is it goes into bankruptcy end up with any value at all from that company I had the number of times it happens are so so so so tiny you're much more likely to be struck by lightning they have a company that filed for bankruptcy end up doing really well moving forward and more important the people on the stock in a bankrupt enterprise end up doing well so know that this is an ultra high risk thing that people are getting involved in and I know that it's spreading on investing message boards there's a lot of reddit pages where people are talking up these stocks but be careful if you do want to play this game this is something that's fun for you it needs to be play money not real money that you're counting on for your future what I call money that you can sleep well even if you lose all of it would be the circumstance where you put money in a bankruptcy doc and yeah I know one or more of these that people are speculating on they're going to do fine probably but that's gonna be the rare rare exception so we're alternating asking your questions here that you posted at Clark dot com slash ask and Kim it's your turn right yep and chase in New Mexico wants to make this personal for use to follow up on your segment he wants to know is Clark still fully invested in the stock market well I am I had not sold anything if that's what you mean so I have a portfolio where because of my age I'm a Medicare recipient now that tells you how old I am anyway sixty I'm turning sixty five in a week I have a portfolio where I have a big chunk most of my money in stocks through fines and then I have another money to live on for a three year period bids and municipal bond funds so I have not changed any of those ratios have not changed anything I've done I've not sold a single share of any fund that I have and that's because I believe in the long term strength of economies around the world and ultimately the U. S. and I'm such a believer in what free enterprises continue to grow traffic revelers from ninety five point five W. S. B. ten forty three The Great carrier WSB twenty four hour traffic center with our track record in Cobb county seventy five southbound vehicle wreck at dope road exit to sixty one has all lanes blocked first responders on scene you can exit it don't grow to take that over to cop parkway if you're coming from Turkey and Bartow counties used Cobb parkway from five seventy five as yourself about alternative to eighty five live in the traffic center Steve.
"financial times" Discussed on KLBJ 590AM
"Recently Financial Times named our firm one of the top three hundred investment advisors he in India were very proud of that of course but we owe that to our clients and without our clients we would be nowhere so your clients listening right now we love you thank you thank you thank you now one of the things that has happened unfortunately with the corona virus and and the stoppage of the economy is the unbelievable number of people who have lost their jobs have been furloughed and and and and all of that and according to a study from the two thousand eight recession the people who are over fifty tended to be the first people who were let go and people over fifty where it tended to be the last people hired and the statistics are very bad from that standpoint and and basically it says that there is such a thing as age discrimination still and a year and a half after the the people who had lost their jobs forty one percent of the over fifty people still were unemployed so what that means is is that if you're going to plan ahead as a planner that's what I do I plan for the worst and hope for the best I don't plan for the best and hope the worst doesn't happen and my view is that if you're okay under a worst case scenario where or a bad scenario you'll be okay under something better than that so planning for that is important in my view and so if you're one of those people the forty one percent it is possible that you may go a year and a half without a job now the other thing that is not very good about all this is that the average wage that people over fifty got when they finally did get a job coming out of the recession in two thousand eight was twenty three percent less than what they were being paid before they were laid off so you have to plan for that too in my opinion because if you don't and you it happens to you then and you could be in a in a bad situation so yeah you should think in my opinion what what could happen if you don't have a job for a year and a half to the end of next year and then when you finally do get a job that your income will be twenty three percent less than what you had before so if we start with that scenario now we have to stop we have to start thinking about what kind of planning should we do to to that daft or or compensate for that so here are five things for you to think about the first one as I just said is is really think realistically about what your chances of employment are okay and take those statistics that I just gave you seriously because you know hopefully you'll get a job next week you know I was talking to somebody who says sister got a job and not only did she she was laid off from the job she had she just got a new job and she's making more money than she did before so it is not gonna happen everybody you know every some people may end up better off but I think we should plan for for that the second thing is to evaluate your financial so ation okay so if you're forced into early retirement in my view you should take a look at your entire financial picture look at all the sources of income that you'll have during your retirement take a look at all of your expenses you know look at the benefits you have to work all those kind of things your four oh one K. access to money all those kind of things you should be part of the planning that you're going to be looking at okay and everything is on the table at this point if you have two cars and you only need one of them it may be time to sell the second car it may be time to downgrade the house here and there's all kinds of thoughts that you need to put on the table everything in our view should be considered now does that mean to you to do all of them now the set least think about the other thing is make adjustments to how you're investing in your retirement accounts you know one of the things that we believe right now is really important for those of you who are over fifty is to make sure that you are de risking and what I could mean by de risking is you need to look at how risky is your portfolio relative to what you're facing and so it may be that you should be more conservative than you are and that kind of thing so take a look at how you're invested your retirement plans all that kind of stuff the other thing is you know think about taking social security early those of you who are sixty two or older it's a good time to be looking at that there is there is a in social security is in the rules where you can actually take your social security as long as you pay back the benefits that you've taken within a year it's essentially an interest free loan so you can you can look at how to get money from social security if you feel that you're going to have a job or savings you'll be able to access later on to repay that or maybe just continue getting your soul security Sir strategies around social security are very important also to be considering and then health care considerations you know one of the things that is obviously very important is that if you're not sixty five yet then you're probably you're not going to have Medicare so therefore you've got to look at how are you going to cover for your healthcare yeah there's cobra which is the benefits you can get after you no longer work somewhere a lot of things to be thinking about in that area as well now our retirement planners are coached and trained and are knowledgeable in all the areas that I just described and the the team that guided our clients through the two thousand and eight credit crisis recession is the same team that is here today managing our firm now in helping our clients and we would love to help you get to this crisis as well and we see it as a two stage thing one is get through this period this next year and a half let's say let's get you to retirement also let's talk about still planning for that let's not give up on that goal we have a huge valley right now that we need to get through or a or a or a stoppage but that doesn't mean that everything is over necessarily so let's look at building a plan for you to get to you to do your retirement as well so we woke he feels better already so we want to help you with all of those things and.
"financial times" Discussed on KOMO
"Financial Times first year Cougars football coach Nick Rolovich still hasn't held an in person practice with these players he was real time to concentrate on getting to know who our guys are and let them figure out who we are as people and you know I think it's been productive I'm just excited to get on the field when we came meantime WSU president Kirk Schulz planning to hold classes at the Pullman campus this fall university of Washington athletic director Jennifer Cohen will outline worst and best case financial scenarios at this week's U. dub regents meeting and starting Saturday the state of Arizona will allow pro sports leagues to resume practices and play games once they're ready sports updates at ten forty after the hour bill Schwartz come on news after years of struggle and success Seattle's bike sharing program may be finished here's come about Markovic in a storage lot in west Seattle hundreds of jump bikes sit idle taken off city streets after uber jumps parent company invested in hand over control of its bikes to align its former competitor now doesn't exist suddenly kind without warning after nearly four years of yellow verses read verses green versus orange some irritated with so many bikes clogging the sidewalks cell right now has no bike shares but only temporary says Lyme it takes a little bit of time to integrate jumps hardware into our systems and that's why we don't see any bikes on the street right now one pulled its green bikes last year when a rider started preferring the red jump bikes the Reds will return says Lyme but with the caviar the city Seattle does not have to spend a dollar to make bikeshare work as long as bank shares pared researcher scooter share is where the money is world wide lime says for bikes to work in Seattle it must allow for scooters in less they're paired it's.
"financial times" Discussed on KSFO-AM
"Of the study's findings were inconclusive now Financial Times reported that around does a very did not improve covert nineteen patients conditions or reduce the viruses present in the blood stream in a clinical trial in China Hannah Cutler is it with the Financial Times and she explained that the reports so this is interesting because it was actually accidentally published by the World Health Organization on that clinical trials database online and it was a summary of the results of the trial which was that it didn't have any effect on the patients and it didn't happen to act on that condition or on that but I will let that's been confirmed that that was true by the World Health Organization by Kelly yeah but the question is really all what is the details let it down from the trial tell us intensive maybe there was some subset of patients that did benefit and also you know is there any more information and they will give us when they finally published on the pay review but there was one thing that's been thrown around town since this came out that to to down play perhaps whether we should be extrapolating too much from this trial which was that that one enough people in Israel that there were no control functions can you tell us more about that and I'm I'm whether we should be discounting and I think it's all from this she was a control arm and the study and in fact this was the first randomized control trial for the drug which is why people watching for it one thing to bear in mind is that it didn't actually finish one of the difficulties of during trials in these situations is that if they do do they started this trial in China when I actually that was a lot of corona virus patients at all too many coronavirus patients now so they didn't actually finish enrolling at so that's worth bearing in mind one study is always one study there are huge studies going on by the WHO's by the national institutes of health in the U. S. looking around as a bad because there is a lot of time for it and that's also many many studies looking at some of the other drugs that could help courtesy of CNBC U. S. health officials say producing a vaccine that will take at least twelve to eighteen months of course that makes the race to find a treatment crucial meanwhile the center for disease control and prevention is recommending that the operators of a South Dakota meat packing plant where hundreds of workers it contacted Doug contracted covert nineteen implement strict social distancing and find ways to overcome language barriers the CDC releasing a memo Thursday that specifically addresses the situation at Smithfield foods in Sioux falls but that also may give an indication of the broader recommendations the agency is working on for meat processing plants nationwide as more continue to get hit here is South Dakota governor Christie gnome explaining the process.
"financial times" Discussed on KDWN 720AM
"Characterizations of the study's findings were inconclusive now Financial Times reported that around does a very did not improve covert nineteen patients conditions or reduce the viruses present in the blood stream in a clinical trial in China Hannah Cutler is with the Financial Times and she explained that the reports so this is interesting because it was actually accidentally published by the World Health Organization on that clinical trials database online and it was a summary of the results of the trial which was that it didn't have any effect on the patients and it didn't happen on the condition or on that viral load that's been confirmed that that was true by the World Health Organization and by getting out but the questions really all what is the details let it down from the trial tell us intensive maybe there was some subset of patients that did benefit and also you know is there any more information and they will give us when they finally publish that underpin review but there was one thing that's been thrown around town since this came out to to to to down play perhaps whether we should be extrapolating too much from this trial which was that they're one and the people in it so that there were no control functions can you tell us more about that and I'm I'm whether we should be discounting anything at all from this she was a control arm and the study and in fact this was the first randomized control trial for the drug which is why people watching for it one thing to bear in mind is that it didn't actually finish one of the difficulties of during trials and the situations is that if they did do things they started this trial in China when I actually that was a lot of corona virus patients that also many coronavirus patients now so they didn't actually finish enrolling at so that's worth bearing in mind one study is always one study there are huge studies going on by the WHO's by the national institutes of health in the U. S. looking around as a bad because there is a lot of hope for it and that's also many many studies looking at some of the other drugs that could help that idea courtesy of CNBC U. S. health officials say producing a vaccine that will take at least twelve to eighteen months of course that makes the race to find a treatment crucial meanwhile the center for disease control and prevention is recommending that the operators of a South Dakota meat packing plant where hundreds of workers it contacted that contracted covert nineteen implement strict social distancing and find ways to overcome language barriers the CDC releasing a memo Thursday that specifically addresses the situation of Smithfield foods in Sioux falls but that also may give an indication of the broader recommendations the agency is working on for meat processing plants nationwide as more continue to get hit here is South Dakota governor Christie gnome explaining the process we.
"financial times" Discussed on KQED Radio
"Is the U. S. editor at large at the Financial Times thanks for joining us thank you you're listening to the weekly broadcasts of world affairs is produced in partnership with T. two D. I'm Philip young we just heard from Gillian Tett she's the U. S. editor at large at the Financial Times now we examine with David rode with the deep state is real and how that fear has shaped the trump administration's response to covert nineteen back to Marcus clock it's since the beginning of his presidency Donald Trump and his supporters have blamed rogue elements in the FBI the CIA and the state department for undermining his policy agenda and credibility I think it was a disgraceful that the intelligence agencies allowed any information that turned out to be so false and fake from the Ukraine scandal to the impeachment trial and now more recently to his handling of the outbreak of cove in nineteen over the past few weeks our fellow citizens have learned a lot about the so called experts they claim there is a deep state a clandestine network of individual career civil servants who are running the country from behind closed doors but does this deep state really exist and that skepticism of government experts slow president trump's response to the coronavirus David road is a two time Pulitzer Prize winning journalist his new book is in deep the FBI the CIA and the truth about America's deep state.
"financial times" Discussed on KLBJ 590AM
"Financial Times named our financial advisory firm one of the top three hundred registered investment advisers actually three times so infinity and beyond indeed buzz and we are so proud of that but you know without our clients we would be nowhere we know that's all you clients we love you we thank you and if you're not a client as I said our website is R. P. O. A. dot com so check this out and see what you think now this is the part of the show where we talk about how to pass on to your greedy unwashed undeserving heirs the fruits of your labor and that's called the state planning and you know I watch the debates the democratic debate last week and it occurred to me you know it looks to me like Bernie Sanders is gonna win this thing R. I. when the democratic nominee position to go up against Donald Trump although certainly in a brokered convention we might see Bloomberg I understand that but I think it's going to be Bernie Sanders he has the enthusiasm you can use the fills auditoriums you know and he's just like trump does not not quite the numbers that is a lot of enthusiasm and that's important so if he is the nominee and maybe even becomes president of the United States then I think that the estate planning options that we have available to us will change dramatically so I'm calling this segment opportunity is knocking don't ignore it so I want to go over with you what's available now that may not be under a Bernie Sanders presidency so let's do that but first Jack in your plant no I don't thanks to and of course that is Tony Bennett with rags to riches and you know the estate taxes and probate and all that kind of stuff it's designed to take you from riches to rags and we do not want that to happen to you so every week at this time we have our state tip of the week now this week I want to talk with you about the the estate tax exemption okay so just to give you some background to set the stage when they originally came up with the estate tax one of the things that politicians are all very concerned about is not getting reelected or getting thrown out of office so whenever they pass a law or attacks you know a great deal of the thinking that they put into it is how are my electric how are the people to vote for me going to take this and are they gonna throw me out of office so when they created the estate tax they realize that this state taxes essentially when money goes from you to somebody else and it can happen upon your death or it can happen during your lifetime so what they're concerned about is that when you make that transfer to another was any time you get somebody else's money the estate tax says there's a tax on that but if I take my friend out to lunch in his attacks on that then the politician that put that one on the books is not going to be my buddy next time I vote so they created an exemption and there's two of them one is that you can give fifteen thousand dollars a year to whoever you want but there's an even bigger one which is it's eleven and a half million dollars that you can give away during your lifetime with no estate tax this is huge because I've been doing this long enough I remember when that amount was only two hundred thousand okay now the eleven and a half million is available to you this year still and if you're a married couple you can double that so it's twenty three million dollars okay it's a big deal you can do a lot of planning with the ability to give away that that kind of money you can create trusts you can put businesses into trusts and and have ways with family limited partnerships and other vehicles to shelter from future taxes and I think you need to be thinking about that this year because Bernie Sanders is a very compelling figure right now all the S. were just saying you know nobody has a chance trump's going to win the economy's good all that things change quickly you never know and we're planters so we plan ahead and if it doesn't happen that's okay there's no harm no foul but if it does happen you plan for it so this is the year that if you have not reviewed your estate planning you need to go do it in my opinion because if the if the state if the estate tax exemption drops to two hundred thousand like it did do it it was several years ago then guess what anything upon your death over two hundred thousand could be subject to a fifty percent tax baby and that's a lot think about it how much are you worth what if upon your death half of that had to be paid in taxes it's worth doing some planning today to do to to address that when we have such a large exemption available to us so again make sure you talk to an attorney or professional about this it's complex and you don't want to do it on your own to if you'd like to talk to us about it we'd be happy to help our website is R. B. O. H. dot com retirement planners of America dot com and when you're there we have videos articles podcasts on estate planning and tips and ideas for you and also we would love for you to come to one of our seminars at the seminars will have are now world famous old mule raisin and chocolate chunk cookies and folks go for the cookies forget about all the retirement planning information you're gonna get and all that that's a relevant what you want is the chocolate chunk cookies and notice I said chunk I did not say chip okay chip is made with waxes paraffin they form the shape of the chocolate you don't want that you want real chocolate that forms its own shape that melts all over your face it gets on your shirt and smudges your notes and the person you're with the seminars did to your right is looking at you like what is wrong with you five years old and you're like you are overall market one of my cookies that all said you turn blue when you're the cookie monster that's what you wanted a seminar and that's what we provide so good thank you master and Jeannie no genie will be there but anyway you can go to our website to sign up for the seminar will talk about retirement planning in December I know it's it's the stuff you're not interested go for the cookies so it's R. P. O. A. dot com all right you got to wrap this up you know what I hope you can I hope you've enjoyed this show as much as I've enjoyed doing it for you we'll see you next week same time same channel bye bye everybody.
"financial times" Discussed on KNST AM 790
"And restrictions do apply we have from the great state of Louisiana not agree not as great as Texas but still pretty great we have senator John Kennedy joining us now hello senator how are you Sir no I and I am well and only K. U. checks you mention Texas Texas is right next door to Louisiana yeah we love Texas Texas is five and a half times bigger than we are but Luciana stamina at times more interesting well let's not start anything here let's just leads we wanna part friends the senator you are you were being lambasted in the press now as a conspiracy theorist and let me let me start with this question can these two statements be true Russia tried to cause chaos by trying to hack into our election systems spread disinformation online by taking extreme positions on both sides and hack to the DNC computer that statement over one can it can it also be true that the Ukrainians were convinced that Hillary Clinton would be better for their country they were involved in gathering evidence against Donald Trump and is Serra gets to assist Hillary Clinton win in collusion with the D. N. C. members of the state department our embassies and of the anti corruption bureau in Ukraine are those two statements true yes and and you you stated in the proposition very eloquently I was asked the man on the show several impact was it Russia or Ukraine who tried to influence the U. S. selection and I said both the mace and what's your basis for saying you crying and last referred them to articles op ed pieces and long investigate the Tory articles and politico in the Financial Times in the hill in the Washington examiner on CBS news in the economist Bloomberg news and New York times for example the headline in politico January two thousand seventeen quote Ukraine efforts to sabotage trump back far the Financial Times August of two thousand sixteen the headline was quote Ukraine's leaders campaign against shop called what our third this is an op ed piece written in the hill by the Ukrainian ambassador to the United States this is the headline to his op ed piece the Ukrainian ambassador not the ill quote shops trump's comments send the wrong message to the world and I could go on now did you crane are trying to influence our election in as sophisticated a manner as Russia no Russia is the master Russia is a third world country but it has a great spa has great cyber skills a nuclear weapon in but the two are not mutually exclusive and I mean just from the reporting I don't believe these are all reputable are members of the media there are yours aren't don't let them print alas I wish me and I don't like it's fake news so senator may I may I direct you to Glenn Beck dot com where we have laid this all out and I'm not using other people's reporting I have the direct evidence in their own words from state department documents from DNC documents we have payments we have videotape of them admitting to this we have the court documents out of Ukraine we have the official documents and it is so out Regis that the press is saying that these are conspiracy theories etcetera etcetera the you know what reporters can span reporters can do whatever they want documents do not lie and the documents outline all of it and it's all in their own words when you look at cherub mellow who is possibly the whistle blower his fingers are all over all of that this is why Donald Trump blew a hole in a wall and he was a hand grenade hand he and Rudy Giuliani went off and they blew a hole in the wall that exposed all of this stuff that was going behind the scenes in Ukraine and our former administration Clinton and the state department and members of our intelligence community were all involved and we have the documents the question is will the Senate actually take this on or are we just going to you know to defend against trump and not expose the exact corruption that I think is poison to the Republic fair question gland should answer is I don't know I'm I'm I'm labor I'm not management the Senate I'm not a committee chair I will tell you that I'm as you alluded to I've gotten a lot of push back from my democratic friends about my statement that both you Russia and Ukraine tried to influence the election I think they're worried some hal buried meaning that Ukraine tried to influence our election which some time somehow hurt their impeachment proceedings against the president I don't understand that I mean I think most fair minded people recognize that the Ukrainian government in the past not the people with the government under president trump Poro Shinko and president unique of the H. the government or and more organically and historically corrupt and I think that's been been been well documented it has been and we exploited when I say we the Democratic Party and the former administration exploited that corruption and it is it is vital that that is exposed if it is not the state department is going to know from here on to the end of time they run the show and they can do whatever they want it also will institutionalize the kinds of things that the Democratic Party was doing in Ukraine to try to thwart our election look if Donald Trump well would've been found as coordinating or in collusion with the Russians I would have been for impeachment on him but he wasn't they didn't find that evidence but that evidence is available in documents in court documents to people work were a were the tried and convicted in Ukrainian court two people for interfering in our election to try to help Hillary Clinton win if we don't get a handle on this our elections and the the this whole the whole system is in question I don't care who goes to jail I want a fair election system what you are correct there was a federal District Court and kia in December of two thousand and eighteen which wound that US senior Ukrainian officials did metal did try to influence the presidential election in the United States and here's the headline from the article when the Bloomberg news reporting it quote Ukrainian officials metal in two thousand and sixteen election by leaking secret mana for ledger court says in one yes now I didn't make this up in in fact number news is only reporting what a Ukrainian Courtney at now my democratic friends say doctor hill who testified in president trump's impeachment proceedings in the house says this is all Russian propaganda and my response to that is well first I don't think politico in the Financial Times and the L. magazine in the Washington examiner and Bloomberg managed all our agents for Latimer here's a thought I don't believe that and secondly doctor hill is certainly entitled to her opinion I'm just saying I don't believe these articles by reputable members of the media by reputable reporters I don't think they're fake message and you know their lawyers are going to let them print alas no that much senator I a I a I know you have to run we have to let you go but I I wish you all the best and I pray literally every night for spines to be found in Congress and in the Senate because what you are talking about is is institutionalized and metastasized and it must be cut out it is a cancer to our system and I am I am hoping that this is when it gets to the Senate we actually have a trial about the truth and we call these people to to answer for the lies that we have seen now in this impeachment hearing I am a very what person told me yesterday in a phone call call and he told us a keep telling the truth he said the leaders are he said people don't follow leaders may follow courage and that meant a lot to me and I think it's.
"financial times" Discussed on C-SPAN Radio
"Palladio, the financial times, and there's huge uncertainty at the moment over the fate of the Brexit negotiations. How much of a factor has this been for the fed and turning towards the kind of patient approach to monetary policy. And what's your base case on that? And the size of the balance sheet. What's your do? You have a numerical estimate for where the at the end of September. Once the run his complete. Of course, we're we're watching Brexit carefully. And and hoping that it can be resolved in an orderly way. From our standpoint, the part of it that we can control is that we've been involved with supervising. Our our financial institutions that are active either in the United Kingdom or the European Union or both to make sure that they're ready for the full range of possible outcomes to the Brexit so and in doing so we've also had also worked alongside regulators from the United Kingdom and the EU. So we do again hope that that can be resolved. Well, that we we know that our banks are well capitalized in resilient to different kinds of events in terms of the size of the balance sheet. The balance sheet will be of a size of approximately seventeen percent of GDP around the end of this year down from twenty five percent of GDP in at the end of two thousand fourteen so significantly smaller relative to GP GP than it was I'm guessing you you're looking for a dollar number though, probably and that would be so for the size of the balance sheet. It looks like it'll be a bit above three point five trillion. Ten..
"financial times" Discussed on FT Banking Weekly
"The financial times with me Patrick Jenkins. Joining me in the studio today is Nick McColl retail banking correspondent an all guest from market invoice chief executive, and they'll stuck where also joined Dan the line from New York by Laura Newnan, RUS banking editor and from devil's by our banking at it's David Crowe and Arash Masudi corporate finance editor and finally from Zurich with joined by Stephen Morris or European banking. Correspondent this week. We'll take a look at US Bank. And what the latest evidence is on that. And how it tracks results? A look at UBS results as they disappoint the market. A couldn't raise a full Davos twenty nineteen and finally that interview with Stocker from market invoice as it takes on some new equity investors. I o to the US Laura you read a very instinct piece of. About a growing gap between US CEO pay in the banking sector. I'm bat of staff, and it comes on the back of last week's news that the fifty million euro package of pay that was at standing to Andrea Rochelle, the outgoing investment Bank chief at UBS as he prepared to join a CEO of Sandton dare became a kind of poison chalice and actually prevented him from going Sunday got cold feet about that tell us what's going on in the market or Bank is losing all touch with reality. Well, you can just wanted very separate. She said issue of CEO pay let me at the very top in that would also under or tell while he was not achieve executive of Anqing group. He says neurons very high men on money to their started shooting. The issue. What happens to the masses of either working for the Bank? So the PT ran at that began was basically showing that across the six largest US bonds Irish paperwork, you're increasingly three percent and. All the two years buying Steve executives who have already nine in which their payment by last year. We saw an increase of seven percent for James squirm who is the Morgantown itchy executive on an increase of five cent for Jamie Dimon, who's JP Morgan cheap spaghetti. This is what those numbers into context at this point. James Gorman his package last year would have been twenty nine million dollars. And Jamie diamonds total last year would have been thirty one million dollars. And the thing about the practices for the chief executive's is a most of it is either in shares which are deferred costs, which is deferred or payments, which can ultimately be by. So those convict common news around their neck because the problem is if these binders leader jusens as a bud leader, which basically translates to name new joins a competitor. They can define a competitor in pretty lose terms. If they lead the Bank is a DOD lever overpaid of up to seven years, they could lose an awful lot of that. That's what unveil hotel fund when he tried to leave UBS doing Fanton there because he would have had to four. A lot of compensation on give back a lot of his ear UBS compensation and dare in order to make him HOA would strike a deal with UBS not enforce us or would have acted just by humanitarian give him fun. Dare shares to replace the UBS shares and this happened all the time done the ranks of Munich. You have imagined director moving from one Bank to another Bank. It's pretty standard than we'd be as author deferred. Comp thing is a deferred comp us you moans to millions maybe defies of millions. It doesn't usually run from the mandate actually affect the share capital the Bank. I think to be seeing publicly as well to be paying someone that AMAN to join looks for your ass. The other thing about the papers she'd executives it's automated linked to the performance author in she should in the years to come. So most of it is in stock in in stations was take several years divest. I can then be restricted for several further years. So someone like Jamie Dimon, he got a total package of thirty million dollars. If they were to be club in the share price of JT Morton Jason by the time is able to sell those shares that could be worth. Open less. That's not lucky top in the case of that bite. But we've seen him. We kind of reported on the packages pay to some Deutsche Bank executives over the years by the time..