FORTUNE -- Here's what needs to be asked about giant hedge fund Bridgewater Associates and its founder Ray Dalio: Is this guy really worth $2 billion a year? That's roughly the amount investors paid his firm in management fees in 2012.
Reblogged from Financial Post | Business:
JERUSALEM, ISRAEL--Last week, Harvard professor Niall Ferguson argued that volatility induced by the Greek elections could cause a "Lehman moment" in Europe, a wave of bank runs that could lead to either the collapse or resurrection of the European Monetary Union.
While the events of this weekend do not seem to have caused this to happen, Feruguson still believes that the climax of pressures on Europe is yet to come.
Reblogged from Financial Post | Business:
India's GDP slowed to 5.3 percent in the January to March quarter. Since then S&P has warned that the country could lose its investment grade, and Fitch revised India's outlook to 'negative'.
Sentiment has turned against India not just on a slew of weak economic data, but also the country's political unwillingness to implement reforms, and on allegations of corruption.
Reblogged from Business & Money:
WASHINGTON — The Federal Reserve is extending a program intended to further lower long-term interest rates, noting hiring has weakened, consumer spending is rising more slowly and the economy needs more support.
The Fed will continue Operation Twist through the end of the year. The Fed has been selling $400 billion in short-term Treasurys since September and buying longer-term Treasurys. It says it will shift another $267 billion through December.
Reblogged from Financial Post | Business:
BERLIN/PARIS - Germany’s Angela Merkel criticized France’s economic performance on Friday in a war of words with its new Socialist president, Francois Hollande, over how to tackle Europe’s deepening debt crisis ahead of a pivotal election in Greece.
Describing her own country as Europe’s “stabilizing anchor and growth engine," the centre-right chancellor told German business leaders that Europe should talk about the growing gap between the bloc’s two biggest economies.
The World Bank is not alone in making growth projections for the global growth situation. News out now maintains a stance of global growth in 2012, but not in Europe as the old continent is set to be in the red this year. Two key warnings are simply to prepare for more volatility in the years ahead and a warning that developing nations need to reduce their vulnerabilities.
That means you, Greece.
Michael Tory, former head of U.K. investment banking at Lehman Brothers, just published an op-ed in the Financial Times suggesting that what European policymakers need most right now is not to pull the region's tenuous economy back from the ledge but to get down on their knees and take a good hard look into the darkness that awaits…
And so the Grexit continues to be nigh: George Soros may handicap Greece's June 17 election in favor of the pro-bailout parties deemed more likely to keep the nation in Europe's monetary union, but better-safe-than-sorry still applies. If you're a Greek saver, that may mean stashing some euros under your mattress. If you're the British banknote printer De La Rue, it means…
Reblogged from Yale Books Blog: Yale University Press London:
In his recent book Realeconomik the internationally respected economist Grigory Yavlinsky makes a powerful case that without a commitment to established social principles in business and politics, a stable global economy will be impossible to achieve. In this exclusive extract Yavlinksy, veteran leader of one of Russia's liberal opposition parties and recent guest on BBC's Start the Week and HARDtalk…
The online stock photography service Shutterstock filed its plans for an initial public offering today. The company plans to list its stock on the New York Stock Exchange. The number of shares to be offered and the price range for the offering haven't been decided yet, but the company's S-1 filing with the Securities and Exchange Commission (SEC) notes that it plans to raise around $115 million through this IPO.
[via The Huffington Post]
Harvard Dean David Ellwood moderates a discussion with a distinguished panel on the economic policies that inform the Occupy movement. They debate the causes of growing economic inequality, why we should care and what we might do concretely about it. The power of the American dream, family structures and education are discussed at length.
Click to transfer
The U.S. government loaned banks $7.7 trillion in secret bailout funds at no interest and then borrowed the money back with interest, according to a Bloomberg report. [via The Daily Show]
Pennies should be abolished because they are, in essence, economically inefficient.
Chief Investment Officer of JP Morgan, Michael Cembalest, talks energy in his latest market report. Topic: The quixotic search for energy solutions.
Source: Forbes [via Paul Kedrosky]
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