Chapter News, New York Related News

NY Fed | SCE Labor Market Survey Shows Sharp Increase in Job Seekers, While Current Job Satisfaction Deteriorates

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the July 2024 SCE Labor Market Survey, which shows a sharp increase in the proportion of job seekers compared to a year ago. Satisfaction with wage compensation as well as with nonwage benefits and promotion opportunities at respondents’ current jobs all deteriorated. The average expected likelihood of receiving an offer in the next four months increased compared to a year ago, while the average expected likelihood...

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Chapter News

IMF | Removing the ‘Fiction’, and Other Flaws, from the UK Fiscal Framework

Blog post by Olly Bartrum | Fiscal rules have come under a range of criticism in recent years in the UK and elsewhere. In general, the argument of critics has been that they encourage sub-optimal economic policy-making. For example, they have been blamed for forcing countries into counterproductive austerity to not enforcing fiscal sustainability adequately. Despite this, fiscal rules are increasingly being adopted by countries across the world, even if they are not always followed in practice. Evidence does suggest...

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Member News

Tradewind Finance Announces $17 Million Credit Facility for Best-Selling Sporting Goods Brand

Tradewind Finance, an international trade finance company, today announced that it has closed a USD 17 million credit facility for a best-selling consumer product manufacturer offering at-home sporting equipment. The USA-headquartered equipment brand makes a variety of strength training products including kettle bells, dumb bells, chin-up bars, and more that it sells directly to consumers, Amazon, and to other e-tailers around the world. The sporting goods brand is utilizing the facility to unlock cash flow for its expanding international...

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Jaguar Freight | The Weekly Roar – Top Shipping News

In this week’s Roar: an early holiday for shippers, U.S. imports up, an embargo in Canada, port strikes and air freight, and a perspective on digital transformation. U.S. retailers are stepping up holiday imports due to fears of potential strikes at ports and continuing disruptions on the Red Sea. This led to more than usual container imports in July, mostly fed by precautionary measures instead of consumer demand — which is restrained by inflation and high interest rates. If a strike...

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Chapter News

DoC | Biden-Harris Administration Announces Preliminary Terms with Texas Instruments to Expand U.S. Current-Generation and Mature-Node Chip Capacity

U.S. Department of Commerce Outlines $1.6 Billion in Proposed Funding to Support Multiple Projects in Texas and Utah to Increase Production of Chips Vital for U.S. Economic and National Security Today, the Biden-Harris Administration announced that the U.S. Department of Commerce and Texas Instruments (TI) have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $1.6 billion in proposed direct funding under the CHIPS and Science Act to strengthen domestic supply chain resilience, advance our national security,...

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Chapter News

IMF | Carbon Emissions from AI and Crypto Are Surging and Tax Policy Can Help

By Shafik Hebous, Nate Vernon-Lin | Crypto mining and data centers now account for 2 percent of global electricity use and nearly 1 percent of global emissions, and their footprint is growing. What do crypto assets and artificial intelligence have in common? Both are power hungry. Because of the electricity used by high-powered equipment to “mine” crypto assets, one Bitcoin transaction requires roughly the same amount of electricity as the average person in Ghana or Pakistan consumes in three years. ChatGPT queries require 10...

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ECB | Rate hikes: How financial knowledge affects people’s reactions

Blog post by Evangelos Charalambakis, Omiros Kouvavas and Pedro Neves | How quickly do consumers react to rate hikes? The answer depends in part on how much they know about financial matters. This ECB Blog post shows that the better informed they are, the quicker their reaction. When central banks raise interest rates they aim to dampen demand in the economy, which ultimately helps keep inflation at bay. Consumers are key for that. They make decisions every day: how much...

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Member News

Stephenson Harwood | The Neural Network – August 2024

In this edition of the Neural Network, we look at key AI developments from July and August 2024. In regulatory updates, the EU AI Office launched a consultation on trustworthy general-purpose AI models, the European Commission published updates to its AI Act Q&A page, and the European Data Protection Board adopted a statement on data protection authorities' role in the AI Act framework. In AI enforcement and litigation news, the US Federal Trade Commission, US Department of Justice, the UK Competition and...

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William R. Rhodes Global Advisors | Meeting Global Challenges Requires Financial Innovation

The sums required to meet global challenges like mitigating climate change and strengthening financial-market stability far exceed available public funding. Attracting voluntary private investment, however, will require the development of a menu of innovative financial instruments. WASHINGTON, DC – No one doubts that many of the world’s biggest challenges – such as mitigating climate change, strengthening financial-market stability, and boosting economic growth in developing and emerging economies – are deeply intertwined. Multilateral cooperation will thus lead to better outcomes than...

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Chapter News, New York Related News

New York State Governor | Governor Hochul and Majority Leader Schumer Announce Significant Progress Towards Edwards Vacuum’s $319 Million Semiconductor Supply Chain Facility in Genesee County

Majority Leader Charles Schumer and Empire State Development President, CEO & Commissioner Hope Knight Joined Edwards Vacuum Officials on Tour of Construction Site of Major Semiconductor Supplier at the Western New York Science & Technology Advanced Manufacturing Park, Global Manufacturer of Dry Pumps Will Strengthen New York’s Semiconductor Supply Chain, Create up to 600 Jobs in the Finger Lakes Region, Project Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy To Revitalize Communities and Grow the Economy. Construction Site Photos...

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