Greece-induced market chaos only a matter of time. Charles Dallara says regulators need to look at the unintended consequences of their focus on strengthening bank capital.
Photo: Rob Homer The man who negotiated the bailout of Greece in 2012 says that whatever the outcome of this Sunday's election in Greece, it is "highly likely" global financial markets will yet again be thrown into turmoil over the beleaguered country's debt burden and the long-term sustainability of the euro. And with markets transfixed by the US Federal Reserve interest rate decision due on Friday morning, Charles Dallara, the executive vice-chairman of heavyweight investor Partners Group, says the unwinding of central bank-induced asset bubbles will remain a source of volatility, along with a lack of liquidity in bond markets and the rise of high-frequency trading.
Une start-up affirme avoir fabriqué des spermatozoïdes humains in vitro. LE MONDE | • Mis à jour le | Par Sandrine Cabut C’est, selon ses auteurs, une première mondiale qui ouvre des perspectives passionnantes pour préserver la fertilité de jeunes garçons traités pour des cancers, et pour remédier à certaines causes de stérilité masculine.
Des chercheurs d’une start-up lyonnaise, Kallistem, annoncent avoir réussi à obtenir en laboratoire des spermatozoïdes humains complets, à partir de spermatogonies, les cellules souches germinales. Ils devaient présenter leur technologie jeudi 17 septembre. La spermatogenèse, c’est-à-dire la fabrication de spermatozoïdes dans les testicules à partir de cellules souches, est un processus complexe, qui dure soixante-douze à soixante-quatorze jours dans l’espèce humaine. Il débute à la puberté et se poursuit pendant toute la vie adulte. . « Première mondiale »... sans preuve scientifique Préserver la fertilité des jeunes garçons.
Goldman’s Blankfein on September Rate Hike: ‘I Wouldn’t Do It’ - MoneyBeat. Welcome to Forbes. Liberal leadership: Investment bankers such as Malcolm Turnbull make good PMs, says Simon Mordant. Simon Mordant points to the success of another former investment banker – New Zealand Prime Minister John Key.
Photo: Pat Scala Investment bankers make good prime ministers. Theconversation. The Minerals Council of Australia’s recent coal adverts, extolling the virtues of the “little black rock”, have provoked an inevitable Twitter backlash.
Industry is clearly still learning how to cope in the “web 2.0” world of social media and instant snark. But perhaps the campaign is addressing other audiences beyond the twittersphere, and a bit of sarcasm may well be seen as a small price to pay. The advertisement, if you’ve been living under a rock and haven’t seen it, shows extreme close-ups of what seems to be an asteroid but (spoiler alert) turns out to be a lump of coal. A voice-over explains that “this can provide endless possibilities. It can create light and jobs”, before giving some statistics about wages, jobs and carbon emissions.
Everything happens very fast on the internet, so the inevitable spoof videos (one of the highest-profile of which has since been removed) emerged within hours of the campaign’s release. Theconversation. A leader widely perceived as ideologically hidebound and out of touch is toppled by those within his own party at the second attempt, but big decisions about international climate policy are apparently already locked in ahead of an important global meeting.
This happened yesterday and it happened in December 1991 too, when Paul Keating replaced Bob Hawke as Labor leader and prime minister. The cases are perhaps only superficially similar, but there may be things to learn from the comparison. The big international pressure for Keating was the upcoming meeting to sign a global climate convention. Pressure had been building since 1988, and formal negotiations had begun in early 1991. Words, ideas, videos. Malcolm Turnbull and the road trip into the soul of the new PM.
It was 4 am and Malcolm Turnbull was outside my inner-city flat, waiting in his large, beige-coloured Mercedes.
The Merc's motor emitted that regular hum one associates with a well-tuned, hi-end classic car. He had two takeaway coffees, ready for the long drive to Scone, at the northern tip of the Hunter Valley in NSW. We drank our coffee as we drove up a misty F3 highway, heading due north out of Sydney. The talk droned on for a while about ins and outs at the office; we both worked for Kerry Packer's Australian Consolidated Press. Somehow, the conversation moved to politics. Monday's events, where Turnbull, now 60, toppled a sitting Liberal Prime Minister to grab the long-sought-after keys to The Lodge, show that while the car talk may have been premature, it was also prescient.
Retrain your investment brain. We are hard-wired to be idiot investors.
Worse than that, we’re not getting any smarter regardless of how much we read, research and educate ourselves. Nobel Economics Prize-winner Daniel Kahneman in his 2011 book Thinking Fast and Slow, showed that even knowing about our own psychological weaknesses doesn’t make us better investors. In fact, over the past 30 years the average share market investor in the US earned an average annual return of just 3.7% compared to the S&P 500’s 11.1% annual return.1. Mark Karpelès, imparfait escroc à Tokyo. Weekend Economist: Get ready for Fed lift-off.
Next week will be highlighted by a hugely significant event.
We expect the US Federal Reserve to start raising rates next week, the first time it has instigated a tightening cycle since June 2004. The market is not prepared for this historic event. We have been forecasting that the Fed would start raising rates in September 2015 for around two years. It has been a long wait and despite market pricing only giving a 30 per cent probability to the hike occurring, we are sticking with the view.
Markets are more confident that the Fed will wait until December on the basis that the Fed surprised by delaying the decision to taper QE to December when the scene was set for September. Businessspectator.com. †Introductory offers to be billed 4 weekly as per the following - Business Spectator Digital Subscription $4 per week to be billed as $16 4-weekly; Business Spectator Digital Subscription + The Weekend Australian (delivered Saturday) $4 per week to be billed as $16 4-weekly; Business Spectator Digital Subscription + 6 day paper delivery $8 per week to be billed as $32 4-weekly.
At the end of the initial 12 weeks, subscriptions will automatically renew to the higher price to be billed 4 weekly as per the following - Business Spectator Digital Subscription $8 per week to be billed as $32 4-weekly; Business Spectator Digital Subscription + The Weekend Australian (delivered Saturday) $8 per week to be billed as $32 4-weekly; Business Spectator Digital Subscription + 6 day paper delivery $16 per week to be billed as $64 4-weekly. Renewals occur unless cancelled. Payments in advance by credit/debit card or Paypal only. Astro Teller at Fishburners. Westpac's accounting, targets queried by analysts. Westpac has been criticised for taking restructuring charges below the line.
Photo: Gabriele Charotte.
The Russia, China Alliance: What Does “The Dragonbear” Aim To Achieve In Global Affairs? By Velina Tchakarova Much has been written and speculated over an emerging strategic alliance between Russia and China, which I gave the name ‘the Dragonbear’ in the geopolitics of the 21st century. Interpretations of the context of deepening bilateral relations range from very sceptic to very optimistic prognoses for the future. But what does the Dragonbear really aim to achieve in global affairs? First and foremost, it is about counterbalancing arising centrifugal forces in all fields – from economy, finance and trade, to diplomacy and political links, to military, defence and strategic alliances. But it also has a lot to do with the countries’ overlapping understanding that the world is in a system transformation, whose results are unpredictable and whose implications might be very dangerous for them.
Past little guide to future of Aussie super growth. Australian super funds' big bias towards equities may finally have become a liability as their stellar growth is stalled by central banks hitting rock bottom interest rates just as the local economy looks dicey. Australia's biggest funds – including the Future Fund, Australian Super and Q Super – grew their funds under management at a compound average growth rate of 11 per cent a year between 2009 and 2014 compared with a global average for the top 300 funds of 6.4 per cent, and 3.9 per cent for the Asia Pacific.Only China, Norway and South Korea grew faster. But the decline of the Australian All Ordinaries by 3 per cent in 2014, compared to a 3 per cent rise in the MCSI index of global stocks, suggests the stellar run is over. The top 300 global funds on average grew by 3.4 per cent in 2014, down from 6 per cent in 2013 and 10 per cent in 2012, according to Towers Watson's annual P&I/Towers Watson Global 300 study.
No Australian funds were in the top 20. Hartzer to define his place in history. Westpac Banking Corp chief executive Brian Hartzer is reading The Innovators, by Steve Jobs' biographer, Walter Isaacson. Published last year, the book details the history of computing through the personal stories of the scientific and business leaders who have created the digital revolution. Starting with Ada Lovelace, daughter of Lord Byron, Isaacson reveals how proficiency in both literature and mathematics encouraged her to publish the world's first computer program in 1843. The stories of other technology luminaries follow, including Alan Turing, who envisaged the world's first universal computer a century after Lovelace, and latter-day icons such as Bill Gates, Steve Wozniak, Steve Jobs and Tim Berners-Lee. At 1030am AEST on Monday morning, Hartzer will deliver a highly significant market update that presents him with the opportunity to set down his strategic thinking at a time the bank remains under scrutiny over its asset mix and costs.
Australia services exports. GDP: How Australia's second quarter national accounts compare. The economy is growing at its slowest since the Abbott government and Joe Hockey were elected. Photo: Nick Moir Australians will be reeling at Wednesday's gross domestic product numbers that put their country as one of the world's slowest growing developed economies, behind even financially beleaguered Greece. Australia's GDP growth from April until June came in lower than expectations at 0.2 per cent, the economy's weakest quarter of growth in two years. The underwhelming data has Australia growing faster than Brazil, Japan and Canada, all of which are experienced negative economic growth, but more slowly than Greece, Poland, South Korea and most other developed nations. Commodity-reliant economies have been hit hard. "For some time we have been forecasting a marked easing in GDP growth in response to the collapse in commodity prices and the end of the mining boom.
Business ideas - Riding the fintech WAIV to a $100 million valuation. It was a problem that used to keep John Fenga up at night. One day his daughter, who is now five years old, will be travelling the world, and what if he needed to transfer her money urgently? “If my daughter was overseas and she was in a cab at midnight and couldn’t afford to pay, she’d have no option,” Fenga says. “Sending funds abroad is an absolute nightmare. It costs a fortune and takes forever.” Mainly for his own peace of mind, Fenga decided to come up with a quick and transparent solution, and WAIV emerged. Corporate Resources Australia Ltd > The Australia-Latin America Business Council. Corporate Resources Australia Ltd 157 Fitzroy Street St Kilda VIC 3182 Corporate Resources Australia Limited (“CRA”), trading as WAIV is a global, online instant payment system for high volume, low value transactions using a VISA debit card linked to loyalty benefits Corporate Resources Australia Limited (“CRA”), trading as WAIV is a global, online instant payment system for high volume, low value transactions using a VISA debit card linked to loyalty benefits.
Waiv provides affordable banking for everyone, anywhere, who have access to a mobile phone/device, allowing them to connect to our low-cost, secure online banking platform. No pre-qualifying or credit checks for applicants, which is normally a pre-requisite of the traditional global banking sector. WAIV. Financial Services. Live article connection interrupted. The Economist - Capital spending. Australia set to rack up world’s longest growth streak. Introducing AirShr. Westpac Innovation Challenge Agribusiness w/ Blue Chilli.
Vote for the People’s Choice Award From over 130 entries, the top 5 finalists for the Westpac Innovation Challenge for Agribusiness have been selected. Now, it’s time for you to have your say on the most innovative new business idea for the agricultural sector. Crossroads-2015.pdf. PwC-Google-The-startup-economy-2013.pdf. Gazelles are the key to Australia’s economic future but we are obsessed with mice and elephants. Sendle: Cheaper, easier, smarter than post. 2025%20-Superannuation%20in%20a%20Decade.pdf. Australian dollar plummets after China’s currency gambit. Rise of the machines as ANZ brings in robot workers to do the 'boring' jobs. First jobs went to India, now ANZ Banking Group is leading the way locally in a global rise of robot software systems, which can do the work of employees in fields ranging from payroll administration to helpdesk support and customer service in a fraction of the time.
London wants to pinch best Aussie fintech start-ups. Westpac's Reinventure backs rebranded Beat the Q Posse Group cafe app. Westpac's Reinventure backs rebranded Beat the Q Posse Group cafe app. Time for Stone & Chalk to deliver for start-ups after months of build-up. Markets Live: ASX at two-year lows.
Fears grow that central banks have run out of ammunition to fire at markets. Uber fight: How Aussie startup GoCatch plans survival against a global juggernaut. The incredible shrinking Fortescue Metals Group. SelfWealth's Andrew Ward says CBA needed '5000 meetings to get anything done' SelfWealth's Andrew Ward says CBA needed '5000 meetings to get anything done' Treasurer Joe Hockey wants to 'short-circuit' bracket creep. ASIC calls out banks on interest-only home loans.
Banks under threat from secured peer-to-peer car loans. John Howard: Why bipartisanship is crucial to economic reform. This peer-to-peer lender is going after the heart of Australia's banking industry, offering secured personal loans. Banks under threat from secured peer-to-peer car loans. Economics, Finance & Banking News and Insights from ANZ. What if Mao still ran China?
Facebook patents technology to help lenders discriminate against borrowers based on social connections. Westpac Follows The Herd On Mortgage Repricing - DFA Blog. Westpac swings into action to fix interest rate headache. Superannuation. Allan Moss backs local consulting start-up Expert360. Battle of the internet giants: Facebook, WhatsApp and the rise of China's WeChat. Michelle Williams - founder of Ideaction - Ideas Hoist. Competition, rising costs, regulation: why Australian banks are finding it tough. Wall-street-invests-in-fintech-startups-2015-3?_ga=1.159291642.1990552514. A massive wave of startups is coming to crush the big banks. SMSFs face growing risks. Battery technologies jostle for share of large-scale storage market.
Gas business seen setting Origin Energy apart from rivals. Banks face stiffer penalties for luring customers to superannuation. Australia leads the world in mobile banking. Jerks do finish first – but there's a sting in this tale. Making Australia Great. National Australia Bank's Andrew Thorburn gets to grips with his to-do list. Support grows for $2.5 million superannuation limit.
Politics 2015. China meltdown "Black Monday" (2015-08-24) 2015 Credit Bubble (+ housing) New crisis coming (commodities) 2015. Commodities Crash 2014. FinTech Unicorns Tammy etc. ROBO-ADVISORS. NOBL. Nabo.com.au. Global 2015 Refresh. Banking + Wealth Summit #afrbanking15. Michael Pettis - The Great Rebalancing. Uber + Airbnb.