2020-Judicial subcommittee on competition in digital markets The report is over 400 pages so I have not had a chance to digest yet. As a user who is immersed in the Apple ecosystem however, I can see it is an interesting insight from an industry perspective. Continue reading Congress Report on Digital Competition [Facebook, Amazon, Apple, Google]
From German Ethics Council – German only for now. The German Ethics Council Yesterday issued a 55-page report on the justifiability of “risk-free certificates” that would allow those who are immune to coronavirus to move around more freely. In view of the many uncertainties that still exist regarding immunity against the novel coronavirus, the German Ethics Council does not recommend the use of immunity certificates at this time. Commercially available tests to detect immunity against SARS-CoV-2 should be more strictly regulated, considering doubts around their reliability and the resulting potential dangers. The results of the deliberations of the 24 person … Continue reading Germany wrestles with the covid (passport) certificate question
The scale of fraud nowadays takes the requirement for Banking due diligence on prospective customers to sensational heights. There has been these gigantic frauds: Wirecard Luckin Coffee Older ones: Enron, Cendant, and WorldCom Over the last 10 days Nikola, a one time potential competitor to Tesla has been sidelined by reports from Hindenberg Research: Last week, we issued a report that presented extensive evidence of a litany of material false statements made by Nikola’s Founder and Executive Chairman, Trevor Milton. We included 53 questions at the end of our report that we believe shareholders deserve answers to. The company promised … Continue reading Nikola founder steps down fuelling the Reports of Fraud
London UK: Prices and sales have fallen in the London financial district and bankers and lawyers are staying away (FT) Ontario Canada; More first-time home buyers and minorities have also been looking to the suburbs for affordability, he added. (Real Estate Monitor) — — Something is happening to urban environments. I can see it with my own eyes as someone who lives in a downtown driven by Financial Services. Recent press is beginning to observe a significant shift to suburban homes. Here are some thoughts, observations and questions. A typical food court downtown would have 25 – 40 storefronts. The … Continue reading Is the post Pandemic property shift to suburban a sign of systemic change?
With that cryptic tweet, Musk lays the door wide open for Battery day on Sep 22nd. We think about Tesla making electric cars. More and more it looks like a power company that manufactures cars and trucks, from a platform that fulfils the sustainability requirements of ESG investment criteria. More to come. Here are some quick soundbites. When I look at Tesla.com and the detail in the Powerwall section that covers features exited in a data centre, we see: back up redundancy when the grid is down recharge with clean energy when linked to solar Uninterruptible Power Supply: appliances running … Continue reading Battery Day – who would have thought !
This is a backgrounder on payments in China. First Africa (M-Pesa), now China (WeChar, and AliPay). While the west juggles with multi million dollar upgrades, China eliminates can and credit cards by replacing with a QR code on a piece of paper or a phone screen. This has become a central topic because of Softbanks investment in the technology coupled with Japans crazy infatuation with cash. With his reputation on the line, Japan’s most controversial tech investor needs a win with the PayPay app [] https://asia.nikkei.com/Spotlight/The-Big-Story/SoftBank-wants-to-burn-money At a glance, PayPay is the kind of mobile wallet commonly seen across Asia. … Continue reading Why do third world countries own payment modernisation – Softbank takes the challenge on
Bank of Canada leaves rates unchanged however there is a nuance in the release that opens the door for change based on the faster than expected economic recovery. Note final paragraph in the release (emphasis mine). Bank of Canada maintains commitment to current level of policy rate, continues program of quantitative easing FOR IMMEDIATE RELEASE Media Relations 613-782-8782 Ottawa, Ontario September 9, 2020 https://www.bankofcanada.ca/2020/09/fad-press-release-2020-09-09/ The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank … Continue reading Bank of Canada maintains interest rate, and quantitative easing
Amazon Bets on Office-Based Work With Expansion in Major Cities The e-commerce giant says it is adding 3,500 employees in six major cities, including 2,000 jobs in New York City The Wall St Journal has an exclusive piece on Amazon investment in downtown work. This in contrast to the general sense that Information Worker activity is moving away from downtown offices to home which could be suburbs or anywhere at all. They are adding 3,500 corporate jobs across the US. Amazon is preparing to add 3,500 corporate jobs across hubs in New York, Phoenix, San Diego, Denver, Detroit and Dallas, … Continue reading Amazon draw a line in the sand on post-pandemic “Work from Home”
https://www.investing.com/analysis/fed-frontruns-fomc-risk-of-further-us-dollar-losses-200532190 investing.com news item Kathy Lien Today, we saw the Federal Reserve “front-run” Wednesday’s FOMC announcement by extending its $2-trillion+ lending programs another three months to the end of the year. According to the central bank, it was necessary to “provide certainty that the facilities will continue to be available to help the economy recover.” But, in reality, it is worried about the economy and feels more companies will need to tap this lifeline. These actions send a strong signal to investors that come tomorrow, we’ll get a more cautious tone from the Fed. We are not looking for any … Continue reading US Fed and Government out of sync on policy
China has a simple formula for addressing market concerns when the market goes the wrong way. Simply change the message and viola! See the bold quote below (bolding mine). … and yes we have land in Florida to sell to you. by CMC Markets, uk.investing.comJuly 16, 2020 09:34 AM While US markets finished higher for the fourth day in a row, markets in Asia have come under pressure after the latest economic data out of China painted a rather mixed picture of the economic outlook in the world’s second biggest economy. China Q2 GDP showed a 11.5% rebound, more than reversing the -10% … Continue reading While European Markets Slip Ahead Of The ECB, China has the answer
Bankwatch 