All branches of my family and friends have been questioning techforgood over 70 years now- by which we mean what dad with Economist audiences of 1970s first coined as entrepreneurial revolution: every next child flourishing because every community being invested in through servant leaders and SME innovators- if that's your kind of collaboration please get in touch chris.macrae@yahoo.co.uk MA Stats DAMTP Corpus Christi Cambridge -- currently in Wash DC & Glasgow; as Scots missionaries my parents who served in world war 2 hoped that was the end of tech for the few instead of tech and teach for all.. we're also prepping June 2023 Glasgow as 265th moral sentiments summit on purposes of markets and engineering. WE see 2020s web3 alumni as best chance to cure tragedies of fake media, AND celebrate millennials as first Sustainability Gen -huge thanks to ed3dao.com , SDGmetaverseprize.org, NFTSdgs.com and other benchmarks at worldclassdaos.com - and of course mathematicians like Satoshi since 2008WHY 163? London Scot James Wilson having founded The Economist in 1843, convinced Queen Victoria to launch commonwealth round a bank by and for the quarter of peoples on the India subcontinent. 163 year ago: she told him to go create Charter Bank; arriving in Calcutta 1860 Wilson died within 9 months of diarrhea. Local peoples had to wait another 112+ years until a womens bank was launched by Fazle Abed making end of diarrhea by oral rehydration one of its first educational purposes My father Norman was very lucky. He survived world war 2 as a teenage navigator allied bomber command Burma. Six years later he met V Neuman at Princeton who unluckily only had 6 years left due to cancer from nuclear bombsd. Neuman asked dad will train economist jouranlits to ask the most valuable question in the world: what goods will people do with 100 tukes more etch every decade 1930s to 2020s. Dad and numann had plenty of exambples of bads caused by rapid tech. I was born the same year 1951. To be honest it took me really long time to start to understand dad's next question about what he called peoples entrepreneurial revolution. But he made it clear that community griunded finacing and valuation of tecahers would be make or braeak to 21st c life. So lets start there

Wednesday, March 31, 2021

londons stock - listings market

 lord hill report march 2021

extract 

Why do we need to act? Although listing on the premium listing segment of the FCA’s Official List has historically been globally recognised as a mark of quality for companies, the figures paint a stark picture: between 2015 and 2020, London accounted for only 5% of IPOs globally.1 The number of listed companies in the UK has fallen by about 40% from a recent peak in 2008. Commentary about increased flows of business to Amsterdam make the point that we face stiff competition as a financial centre not just from the US and Asia, but from elsewhere in Europe. One look at the composition of the FTSE index makes clear another challenge: the most significant companies listed in London are either financial or more representative of the ‘old economy’ than the companies of the future. At one point last 1 LSE for listed companies and Dealogic for share of global IPOs Letter to the Chancellor UK Listing Review  2 summer, Apple alone was worth more than the combined value of every company in the FTSE 100.2 Although the UK has great strengths in technology and life sciences, too few of the innovations we have seen have led ultimately to UK companies coming to the public markets in London. Today, we can see the possibilities offered by the strong potential pipeline of tech IPOs if we are able to persuade them of the many advantages of listing in London. We cannot afford to miss the opportunity that this represents either for our future as a financial centre or as a source of returns for investors large and small

Tuesday, March 23, 2021

 today's bloomberg opinion had lot of interesting stories - they also show how finance connects with everything; unfortunately there is a contradiction between where american financiers and politicians are driving 4% of humans locked into usa and sustainability of 96% of other humans- a paradox arises when you are the worlds reserve currency - it is no longer possible for monetary policy to sustain your own peoples as you are being played by the worlds global organisations and whither the purposes of their market sectors are exponentially sustainable


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This is Bloomberg Opinion Today, a credit report of Bloomberg Opinion’s opinions. Sign up here.

Today’s Agenda

America’s Downgrade Non-Crisis Turns 10

Where were you on August 5, 2011? 

No idea? Here’s a hint: It was a day something historic and unthinkable happened. Those usually burn into your memory, right? Like the JFK assassination or the 9/11 attacks. 

But you could be forgiven for having no recollection of August 5, 2011, which was the day Standard & Poor’s downgraded its credit rating for the United States of America. It was indeed historic and shocking. But it was almost immediately forgettable, because it was so meaningless. Other rating agencies ignored it, and America has had no trouble getting loans in the decade since. 

Nevertheless, John Chambers, the former S&P analyst responsible for the downgrade, recently told Brian Chappatta that he has no regrets. The political dysfunction that inspired the downgrade (remember the ridiculous debt-ceiling fight?) has only gotten worse, he says. Even the $2 trillion mistake by the rating agency in forecasting the country’s future debt burden has been rendered moot by the wild spending and tax-cutting we’ve seen in recent years. S&P has had plenty of chances to upgrade the U.S. from AA+ but has repeatedly declined, as recently as this week.

Of course, credit ratings only have meaning if society agrees they have meaning, like money or Libor or Christopher Nolan films. The financial crisis taught us hard lessons about giving ratings too much power. And again, the U.S. still has no trouble borrowing, despite all the dysfunction and spending and whatnot. But Democrats must think Chambers is at least partly onto something, given they plan to raise taxes to help pay for their next big spending package. Read the whole thing

Further Political-Dysfunction Reading: A " talking filibuster" won't solve the Senate’s filibuster problem because the GOP is perfectly willing to spend as much time as it takes reading Green Eggs and Ham or whatever. — Jonathan Bernstein 

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The Next Elon Musk Spricht Deutsch

Volkswagen today became Germany’s most valuable company, which is a little like becoming the best baseball player in AAA. Its $166 billion market cap would put it maybe in the top 50 of U.S. public companies, and mathematics informs us that’s just a fraction of Tesla’s $650 billion. Still, you’ve gotta start somewhere, and VW is on the rise because it's looking more and more like a true rival to Tesla, writes Chris Bryant. They also have a longer track record of producing vehicles. Now it’s focusing on software and batteries with a view toward electrifying half its new cars by 2030. On the downside, VW also has an old-line automaker’s high costs, including gazillions of employees. But VW might also have an easier time scaling up than Tesla has, making Herbert Diess a real threat to take Elon Musk’s Technoking crown. 

Building a Biden Doctrine

It’s early days yet, but President Joe Biden isn’t exactly reviving every aspect of his old boss’s foreign policy. That may be a good thing. For example, Eli Lake notes, Secretary of State Antony Blinken, ahead of a meeting with Chinese officials in Alaska tomorrow, has used some surprisingly tough language about Beijing’s aggression and treatment of Uyghurs. This might help reassure regional allies that Biden won’t be as forgiving as Barack Obama or as unfocused as Donald Trump about China’s threat. 

Less encouraging, so far at least, has been Biden’s attitude toward Syria, writes Bobby Ghosh. Obama infamously drew a “red line” there and let Bashar al-Assad cross it. Trump didn’t make such a glaring mistake but was still too passive. Biden’s actions so far promise more of the same. Syria is too important for such neglect, Bobby writes, requiring more aggression — including, God forbid, the enforcement of red lines.

Bonus Foreign-Policy Reading: Boris Johnson’s “Global Britain” vision is ambitious, but expensive. — Therese Raphael 

Telltale Charts

As Jay Powell suggested today, dismissing market agita about the threat of higher prices, inflation isn’t even close to becoming a problem. Nir Kaissar points out the nightmarish stagflation of the 1970s built up very slowly and with plenty of warning. Policy makers won’t let that happen again.

Further Reading

The CDC’s six-foot-distance rule keeps kids out of schools despite studies showing a three-foot distance is just as safe. — Bloomberg’s editorial board 

Facebook must confront its vaccine-skeptic problem. — Tim O’Brien 

Fighting the Purdue bankruptcy deal because it strips too little from the Sacklers risks keeping money from victims. — Joe Nocera 

A new study shows Keynes was right about real estate being riskier than it seems. — John Authers 

We’ve been mistakenly blaming margin debt for market crashes since the ‘20s. — Stephen Mihm 

Racial bias in NFL concussion tests deprives Black players of settlement money. — Cathy O’Neil 

The NFT craze is no different from other parts of the art market. — Tyler Cowen 

ICYMI

The IRS is delaying the tax-filing deadline.

Trump’s net worth has taken a hit.

An ARKK copycat is trouncing Cathie Wood’s ETF.

Kickers

10,000-year-old basket found in Israel. (h/t Ellen Kominers)

App creates fake noise to help you escape Zoom meetings. (h/t Mike Smedley)

Dogs may be 95% accurate at sniffing out Covid.

The human brain developed because larger animals went extinct.

Notes: Please send fake noises and complaints to Mark Gongloff at mgongloff1@bloomberg.net.

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Monday, March 15, 2021

revolutionary debates in education and funancing and glasgow's role in 2021

3 very different topics-
 #1asianow scheduling all 3 transformative education summits in december 2021   two in uae one in hong kong is - do you have any travel schedule  uae spring yet? 

uae linkedin include dubai rewired;  qatar wise ; mb ...& AA
www youth sdg mover/shakers include ac   - glasgow lp edinburgh ne  
netherlands zm (elder -maxima)
nigeria   (elder brown nets  rs )
china research ai education jc

  #2 every week more is emerging on glasgow's centrality to climate and sustainability debates in november- do your friends at skipton or elsewhere intent to participate at glasgow- i am now 13 years into debates at glasgow university on what adam smith would think of the chaos machines and economist have spun and is there any way out for youth; #3 digital money raises 4 sorts of question - 1 it actually offers huge advantages to those most isolated unbanked people- eg china says tibet is the highest user of digial transactions; 2 it raises questions- which nations wish to reverse credit cards- this first app of tech caused huge family debt; 3rd blockchain and fintech merges in sectors that are being completely redesigned- eg electric trucking will need to redesign locations of energy station; this turns the truck into smart device maximising trip hireouts and energy station firs- blockchain can mediate that; 4 which nations want to change the dollar as worlds reserve currency - china has started - its closing down the value of china sticks quoted in usa wherever they are part of banking systems- see this extract Tencent (OTCPK:TCEHY],OTCPK:TCTZF) shares fell 4.4% on Friday and dropped over 4% during Monday trading in Hong Kong, finishing up the day down 3.5%. The over $60B pullback has essentially wiped out the value of its fintech and payments business, which Bernstein puts at a $105-120B valuation. Last week, Bloomberg sources said Chinese regulators were focusing on Tencent after cracking down on Jack Ma's Ant Group. Tencent could also be forced to restructure its financial and insurance units into a holding company for tighter regulatory scrutiny. 

 footnote related to economistdiary.com
every week new debates are being stimulated by people making up glasgow calendar -there is a lot of tension- glaswegians wanted to keep nations politics to minium; london and g7 organisers are maximising it- i will start blogging some of these topics at www.economistbank.com - notable whatever glasgow handsover to education now has 3 world class asian stages in december - dubai is where whole of un and gordon brown is updating edu transformation - qatar, hong kong are the summits fazle abee inspired; there are now many rumors that china is going to take global finance to a new platform at beijing olympics - it has devalued us quoted stocks alibaba and tencent so that americans cannot influence digital yuan; schwarzman and tsinghua scholars in midst of this as beijing mayor bridge between scholars and olympics- meanwhile vaccinations appear to be designed so only the powerful can travel during the 12 last chance months for youths sustianability

footnote from economistfuture.com - keynes must be rolling in his grave- having explained the greatest risk to our species was powering old academics to exclude youth from what futures are possible- this is what americans economic gurus have used both lawyers and non-transparent venture funds to do especially with media and everything von neumann created for youth to celebrayte

Tuesday, March 2, 2021

 

Welcome back!

The little-known agency at the heart of the FinCEN Files investigation is in the spotlight again, thanks to a new report by anti-corruption group Global Financial Integrity.

The organization brought together 19 anti-money laundering experts from government, the financial industry and academia to develop recommendations to reinvent the U.S. Treasury’s Financial Crimes Enforcement Network, an intelligence unit the report describes as underfunded, overstretched and behind the times.

The policy paper cites ICIJ and BuzzFeed News’ international investigation on the failures of the U.S.-led global enforcement system, which we found allows trillions in tainted dollars to flow freely through major banks despite repeated crackdowns.

Their recommendations echo many of the things experts told us need to be done to make the agency more effective. The group also calls for FinCEN to launch a “Manhattan Project” to improve its technology to keep up in the battle against dirty money, terrorism financing, and other emerging money laundering challenges.

The global fight against cross-border financial corruption was a focus of several high-profile reports published in the last week by leading international organizations …

ENDING THE SHELL GAME
The OECD, a club of rich nations, credited ICIJ investigations for fostering public interest in targeting the facilitators of sophisticated financial crimes in its first-ever report on what countries can do to crack down on lawyers, accountants, offshore specialists and other “professional enablers” who help rogue actors hide money and outsmart law enforcement.

TRILLIONS AT STAKE
The UN FACTI panel convened world leaders and high-level stakeholders to discuss international strategies to rein in rampant tax abuse costing countries urgently-needed revenue to tackle poverty, climate change, inequality and the post-pandemic economic recovery. Here’s what they had to say about the recommendations.

#AMPLIFYRAPPLER
Journalist Maria Ressa, founder of the Philippine news outlet Rappler, faces up to six years in prison on cyber libel charges for reporting connected to President Rodrigo Duterte. Last week, journalists around the world showed their support with a video series by Forbidden Stories chronicling Rappler’s investigations on financial crime and corruption.

SEE YOU AT MOZFEST
ICIJ’s Emilia Díaz-Struck and Miguel Fiandor Gutiérrez will be presenting a session on how AI can help investigative journalism at MozFest on Tuesday, March 9, sharing what they’ve learned and uncovered from ICIJ’s experiments with machine learning.
 

Thanks for reading!

Asraa Mustufa

ICIJ's digital editor

P.S. If you've enjoyed our coverage this week, remember to tell your friends and family and share our work on social media. Send them an email now!
 

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