Previously published in Medium |
The quarter with the worst economy since 1929 and the best-performing markets since 1998.
Image courtesy of Medium; Source: IMF
The worsening forecasts of the International Monetary Fund, the statements by the Chairman of the Federal Reserve, Jerome Powell should leave no illusion on the depth of the recession.
Wall Street ignores the economy
The contrast could not be more striking between Wall Street and Main Street. The real economy succumbs to bankruptcies and unemployment. The United States will probably...
In a recent article, we discussed the exploitation by hackers of the current COVID-19 crisis by using techniques such as phishing and malware technology, in order to conduct cyber-attacks on businesses and their workers.
Only recently, a group of hackers-for-hire called Dark Basin was exposed for targeting thousands of businesses and individuals with a view to obtaining private data. Similarly, the vehicle manufacturing company Honda recently reported a cyber-attack. Honda maintains that the attack did not involve a data breach but affected its...
The Center for Financial Stability ("CFS"), today, announced the appointment of William R. Rhodes as the first Chairman of the Organization's distinguished Advisory Board.
CFS is an independent, nonpartisan think tank focused on financial markets - with business lines presently segmented into the future of finance, data and analytics, policy, and technology.
"CFS' innovative and practical approach, programs, and research position the organization as one of the world's leading think tanks and a vital resource for the New York and international...
On June 29, the U.S. Supreme Court issued a 5-4 decision in Seila Law LLC v. Consumer Financial Protection Bureau, Slip Op. 591 U. S. (2020), holding that the provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act limiting the president’s ability to fire the director of the Consumer Financial Protection Bureau (CFPB) only for “inefficiency, neglect, or malfeasance” violated the Constitution’s separation of powers. While the remainder of the CFPB’s structure and regulatory body remains...
Because of Covid-19, your car can be the safest and most hygienic way to travel at the moment – as long as you follow certain rules.
Travelling by car is one of the safest ways to get around for now, from a health perspective, as long as you take care to keep the interior clean and protect yourself whenever you touch things like fuel pumps or bank cards. After all, solid metal, windows, and a well-maintained air conditioning unit provide...
Troutman Sanders and Pepper Hamilton officially became Troutman Pepper (Troutman Pepper Hamilton Sanders LLP) today, a national law firm of 1,100 attorneys in 23 U.S. cities. The new firm offers clients greater resources and bench strength, enhanced practices, and expanded geographic reach.
Troutman Pepper is one of the 50 largest law firms in the country, with offices in eight of the 10 largest U.S. markets. The firm supports some of the country’s biggest industry sectors, including health sciences, energy, real...
On June 26, 2020, the Office of the U.S. Trade Representative announced that it is considering modifying the list of European Union products subject to additional tariffs upon importation into the United States and increasing the tariff rate up to 100 percent. The USTR is accepting comments whether specific products should be either added to or deleted from the lists and whether the rate on specific products should be increased. Comments are due by July 26, 2020.
The current rate...
Overview: The gains in US equities yesterday carried into Asia Pacific trading today, but the European investors did not get the memo. The Dow Jones Stoxx 600 is succumbing to selling pressure and giving back yesterday's gain. Energy and financials are the biggest drags, while real estate and information technology sectors are firm. All the markets had rallied in the Asia Pacific region, with the Nikkei and Australian equities leading with around 1.3% gains. US shares are trading lower. Bond...
Between June 26- July 26, 2020, the US Special Trade Representative is accepting comments regarding the imposition of Sec. 301 tariffs on certain EU products. The products are segregated into 3 categories:
Products currently subject to the Sec. 301 tariffs (at 10% and 25%);
Products that were previously considered for inclusion but not previously subject to the Sec. 301 tariffs;
Consider submitting comments if any product is potentially exposed to 301 duties under this new initiative.
Federal Register Notice...
The ‘Global Goal: Unite for our Future’ pledging summit organised today by the European Commission and Global Citizen mobilised €6.15 billion in additional funding to help develop and ensure equitable access to coronavirus vaccines, tests and treatments. The money raised will also support economic recovery in the world’s most fragile regions and communities.
This amount includes a €4.9 billion pledge by the European Investment Bank, in partnership with the European Commission, and €485 million committed by EU Member States. This brings total pledges under the Coronavirus Global Response pledging marathon,...