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Gene Ellis

Seven ways to clean up a banking stench | Martin Wolf, Financial Times | Commentary | B... - 0 views

www.businessspectator.com.au/...ty-regulation-pd20120713-W5SJ6

martin wolf banking stench

shared by Gene Ellis on 15 Jul 12 - No Cached
  • As Per Kurowski, a former executive director of the World Bank, reminds me regularly, crises occur when what was thought to be low risk turns out to be very high risk.
  • Not least, I would do everything I can to eliminate the idea that the state stands behind investment banking. That is an insane idea.
Gene Ellis

Gas Prices Moving Away From Link to Oil - NYTimes.com - 0 views

www.nytimes.com/...ing-away-from-link-to-oil.html

oil

shared by Gene Ellis on 10 Jan 14 - No Cached
  • That leaves buyers with enormous risk. Oil, which sold for as little as $10 a barrel in the 1990s, when some current contracts were agreed, now costs about $100 per barrel,
  • “Anyone with standard oil-linked contracts is likely losing money in Europe and specifically Italy,
  • Gas bought under such contracts can be 10 percent to 15 percent more expensive than gas bought at spot market prices, he said. Over the past year, Eni's gas and power unit has reported an operating loss of about €812 million, or $1 billion.
  • ...2 more annotations...
  • “These are not easy discussions,” Mr. Alverà said. “Most sellers are reluctant to sit down and give you big discounts. The more they wait the more they increase their profits.”
  • Still, analysts say it may take decades for Asia to switch from oil linkage to market pricing.
Gene Ellis

Davos view: Don't get too confident about Eurozone prospects | The World - 0 views

blogs.ft.com/...ident-about-eurozone-prospects

shared by Gene Ellis on 22 Jan 14 - No Cached
  • Davos view: Don’t get too confident about Eurozone prospects
  • One was the danger that European elections could show a growing mood of political protest – and volatility. Secondly, the ECB’s stress tests could spark new market alarm about the banks – which would impact sovereigns too.
Gene Ellis

Oops: Azerbaijan released election results before voting had even started - 0 views

www.washingtonpost.com/...before-voting-had-even-started

Azerbaijan voting

shared by Gene Ellis on 09 Jan 14 - No Cached
  • So it was a bit awkward when Azerbaijan's election authorities released vote results – a full day before voting had even started.
  • The data were quickly recalled. The official story is that the app's developer had mistakenly sent out the 2008 election results as part of a test. But that's a bit flimsy, given that the released totals show the candidates from this week, not from 2008.
Gene Ellis

The Gap Between Schooling and Education - NYTimes.com - 0 views

economix.blogs.nytimes.com/...etween-schooling-and-education

India education

shared by Gene Ellis on 09 Jan 14 - No Cached
  • in northern India, less than half of surveyed children in fifth grade could read a story intended for second graders. About one in six students in fifth grade recognized letters but could not read words.
Gene Ellis

Death and Disease from Power Plants - Clean Air Task Force (CATF) - 0 views

www.catf.us/...existing

oil & coal impact

shared by Gene Ellis on 10 Jan 14 - No Cached
  • The report finds that over 13,000 deaths each year are attributable to fine particle pollution from U.S. power plants. This is almost half the impact that our 2004 study found and is reflective of the impact that state and federal actions have had in reducing power plant emissions by roughly half. However, much more still needs to be done.
Gene Ellis

Marek Belka examines the hurdles that Polish policymakers must surmount prior to euro m... - 0 views

www.project-syndicate.org/...mount-prior-to-euro-membership

shared by Gene Ellis on 07 Feb 14 - No Cached
  • Poland’s Eurozone Tests
  • As long as eurozone debts continue to rise and member economies diverge rather than converge, prospective members should also be stress-tested to see if they can withstand external shocks and sustain the membership criteria over the long term.
  • Rather, Poland simply combines low costs (including wages) and high-quality production.
  • ...6 more annotations...
  • But competitiveness based on cost, rather than brand value or innovation, makes the Polish economy vulnerable.
  • And Poland’s cost advantage would disappear if the złoty were to strengthen sharply.
  • the country must be careful about joining the exchange rate mechanism (ERM II) – the narrow band within which applicant currencies must operate for at least two years prior to adopting the euro. Doing so could cause the złoty to strengthen, as it did to the Slovak koruna, and wipe out Poland’s competitive advantage.
  • One in four employees is on a fixed-term contract or self-employed.
  • But flexible labor markets have disadvantages, too. Companies tend not to invest in talent or develop new skills, and the quality of existing skills can suffer. In the longer run, flexible labor markets also increase structural unemployment and fuel the informal economy.
  • Finally, Poland needs sound public finances – that is, fiscal space for automatic stabilizers during economic crises.
Gene Ellis

Incomes in sub-Saharan Africa: Standing still but going backwards | The Economist - 0 views

www.economist.com/...incomes-sub-saharan-africa

shared by Gene Ellis on 04 Mar 14 - No Cached
  • Incomes in sub-Saharan Africa
  • But sub-Saharan Africa shifted to the left. Whereas in 1993 about 25% of the world’s poorest 5% lived in sub-Saharan Africa, by 2008 it was nearly 60%. 
Gene Ellis

Postal Service Reports Improved $5 Billion Loss - NYTimes.com - 0 views

www.nytimes.com/...-service-trims-its-losses.html

shared by Gene Ellis on 16 Nov 13 - No Cached
  • Postal Service Reports Improved $5 Billion Loss
  • It attributed the net loss mostly to a 2006 law that requires it to pay $5.5 billion annually into a health fund for its future retirees.
  • As a result of its financial troubles, the agency has defaulted on three annual payments into the fund. It has also exhausted its $15 billion borrowing limit from the Treasury Department. More recently the agency has asked for permission to
  • ...1 more annotation...
  • raise its postage prices to help cover costs.
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