World Bank Warning Global Economy Is at Risk of Recession
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Forecasts for German economy see stagnation, or recession, in 2024
Yahoo News - World -
The weakest links in the global economy are on the mend
Some of the most prominent beleaguered nations are now carrying out radical reformsFinancial Times - Business -
Official data confirms UK economy slipped into recession last year
Figures offer little cheer to Rishi Sunak as his Conservative party trails heavily in opinion pollsFinancial Times - World - United Kingdom -
Beware of 'bank jugging' this tax season, police warn
Police are warning the public about "bank jugging" this tax season.The Hill - Politics -
How shipping containers can make or break the global economy
Global trade requires shipping containers. China is responsible for over 95% of shipping-container production, potentially making U.S. businesses vulnerable.CNBC - Business -
Ukraine's Zelenskyy warns of risks to U.S. if Putin not stopped
In an exclusive interview with CBS News' Charlie D'Agata, Ukraine's President Volodymyr Zelenskyy warns that if America doesn't help his country turn back Russia's invasion, Vladimir Putin will bring war to Europe, drawing in U.S. forces.CBS News - World - Ukraine -
Extremism endangers Germany's prosperity, warns central bank chief
Yahoo News - World -
BoE warns of risks to UK businesses from private equity bubble
Officials escalate warnings about leverage, transparency and valuationsFinancial Times - World - United Kingdom -
Larry Fink warns retirement crisis looms for ageing world population
BlackRock chief’s annual letter also embraces ‘energy pragmatism’ amid attacks over climate stanceFinancial Times - Business -
US prosecutors try to send warning to cryptocurrency world with KuCoin prosecution
A top U.S. prosecutor has announced criminal charges against a once ascending company in the cryptocurrency world and two of its founders in a bid to send a message to other players in the industry to follow U.S. lawsABC News - Tech - Crypto -
AI risk management startup ValidMind raises $8.1M to help banks comply with regulations
ValidMind, a regulatory compliance platform for AI risk management at banks, raises $8.1 million in seed funding to automate model validation and documentation.VentureBeat - Tech - Artificial Intelligence -
Dethrone the dollar? 5 charts show how U.S. currency still rules the world economy.
The U.S. dollar has strengthened its grip on the global financial system since Russia invaded Ukraine two years ago, defying expectations of “de-dollarization.”MarketWatch - Business -
Yellen warns China's surplus of solar panels, EVs could be dumped on global markets
Janet Yellen said she will confront her Chinese counterparts about their solar, EV trade practices in an upcoming visit to China.CNBC - Business - China -
Yellen warns China’s surplus of solar panels, EVs could be dumped on global markets
Treasury Secretary Janet Yellen on Wednesday warned that China is treating the global economy as a dumping ground for its cheaper clean energy products.NBC News - Top stories - China -
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.The Wall Street Journal - World -
Millions of older adults with student debt are at risk of losing some Social Security benefits, lawmakers warn
Millions of older adults behind on their student loans could soon receive a smaller Social Security benefit.CNBC - Business -
UK pension rules risk ‘finishing off’ remaining defined-benefit plans, MPs warn
Commons committee calls on government and regulator to change tack over where retirement schemes can investFinancial Times - Business - United Kingdom -
FirstFT: Larry Fink warns of looming ‘retirement crisis’
Also in today’s newsletter, latest on Baltimore bridge collapse, and Donald Trump’s inner circleFinancial Times - World -
Revised figures confirm UK ended 2023 in recession
Official data shows the economy contracted during the last two quarters of last year.BBC News - Top stories - United Kingdom -
UK Confirmed in Recession at End of 2023
U.K. gross domestic product shrank 0.3% between October and December, with the economy hit by high inflation and interest rates that stifled household spending.The Wall Street Journal - World - United Kingdom -
Sam Bankman-Fried's multibillion dollar FTX fraud
What the Crypto King's fall from grace means for the future of cryptocurrencyBBC News - Top stories - Crypto -
An America at Risk
Biden and Trump know the details of the nation’s security threat. Does either have a plan to meet it?The Wall Street Journal - World -
Redefining Your Banking Relationship
Banking is a partnership, not a transaction. And it can help Black women overcome systemic financial hurdles.Inc. - Business -
A turning point in central banking
Last week’s monetary policy moves mark a shift away from strict inflation targetingFinancial Times - World -
Is global terror making a comeback?
Afghanistan’s reversion to its role as the host and incubator of cross-border Islamist terror was entirely foreseeableFinancial Times - World -
Ukraine aid in limbo as Congress begins two-week recess
Speaker Mike Johnson is expected to turn the House's attention to addressing supplemental funding for U.S. allies, including Ukraine, when the chamber returns. But the path forward for the speaker is treacherous.CBS News - Politics - Ukraine -
Barclays bank payments restored after outage
The bank has apologised as some customers experienced issues with payments into and out of accounts.BBC News - Top stories -
Are Travel Loyalty Programs at Risk?
A new agreement by Visa and Mastercard to reduce fees charged to merchants may drain the lucrative rewards that grant free travel to many credit card users.The New York Times - Business -
The Morning Risk Report
The U.S. Commerce Department is dialing up warnings about violating the rules against the export of sensitive technologies, and FTX founder Sam Bankman-Fried was sentenced to 25 years in prison. Plus, Swiss commodities trader Trafigura will pay ...The Wall Street Journal - World -
An Economy Perpetually in Crisis Is Shredding Pakistan's Middle Class
The country’s political and economic turmoil is leaving middle-class people struggling and the poor battling to survive.The Wall Street Journal - World -
‘Resilience’ of Belgian economy supports local start-ups
Main driver of growth is Flanders where sectors including life sciences and fintech are flourishingFinancial Times - World -
This Is the Best Way for Joe Biden to Talk About the Economy
He is defying 40 years of orthodoxy on the center-left.The New York Times - Top stories - Joe Biden -
Institute says German economy is "struggling" and lowers forecasts
Yahoo News - World - Germany -
Will Xi’s manufacturing plan be enough to rescue China’s economy?
The president has won praise for ending a credit boom, but trading partners now fear a flood of cheap exportsFinancial Times - Business - China -
Fed Rate Outlook Looks Just Right for Banks
Banks look forward to relief on deposit costs but have no desire to go back to zero rates.The Wall Street Journal - World - Federal Reserve -
Australia bank CEOs call for a fix to housing shortage
Yahoo News - World - Australia -
China Merchants Bank Gains on Dividend Surprise
China Merchants Bank’s shares rose after the lender surprised with a boost in its dividend ratio while annual earnings came in largely as expected.The Wall Street Journal - World - China -
Inflation Requires Caution for Brazil's Central Bank
Brazil’s central bank may have room to keep easing monetary policy gradually, but “core-services inflation underlying dynamics merit attention,” Goldman Sachs’ Alberto Ramos says.The Wall Street Journal - World - Inflation -
Treasury staff worked at bank linked to China state
The Treasury says the secondment scheme deepens ties with Asia and boosts British business.BBC News - Top stories - China -
China’s property turmoil hits midsized bank Everbright
Regional lender’s shares fall after profits miss estimates due to investment losses and increase in cash set aside for bad debtsFinancial Times - World - China