24th February, 2020.
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Over the past decade, the financial industry has had to reform extensively in order to answer its critics and to serve society more efficiently. However, given the rise of financial technology, the impacts of heightened regulation, and the ever-changing geopolitical scene, the upcoming decade could be one of even greater transformation. The financial sector will need to respond to the increasing pressures to address issues such as the climate crisis and rising inequality. How will finance embrace the opportunities and adapt to the challenges presented by the upcoming decade, to shape the world in years to come?
Gillian Tett: U.S. Managing Editor and Markets and Finance Columnist at the Financial Times.
Cristina Alba-Ochoa: Chief Financial Officer at OakNorth Bank, a UK bank providing business and property loans to small and medium-sized companies.
John Hourican: CEO of NewDay, one of the UK’s largest credit card issuers, and former CEO of Bank of Cyprus.
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An extraordinary event - three very competent finance experts all nodding at the suggestion that "climate change'" is a real concern and that the finance system is over leveraged. Outright madness that does not end well. Over leverage is real. The pretense that CO2 is capable of causing climate change originated in recent history by Maurice Strong and the Club of Rome coming to the conclusion that a global climate scare was the best chance to rally support for a new socialist world order (regardless of whether the science was robust or phony). Now countries like the U.K., Germany, France, Canada, and, a host of others are spending billions to build solar farms and wind farms oblivious to the inescapable fact that these sources of electricity generation are unreliable and costly, while other countries in Asia like China and India are building more coal fired generation capacity than exists in the rest of the world combined, and the United States under Donald Trump believes (correctly in my opinion) that the climate scare is a scam driven by leftists to promote global socialism. The implication of this conundrum for Finance executives is clear if unpleasant. There are inevitable outcomes. First, India and China will enjoy a competitive advantage in energy costs and reliability giving their already burgeoning manufacturing sector permanent advantages over the Western democracies. Second, Western democracies who embrace policies as insane as the Democratic led "Green New Deal" will suffer even greater financial leverage; lower economic growth; and, higher unemployment as they direct already strained sovereign budgets towards "green" investments that offer no unsubsidized return and accelerate the demand for additional electric generation capacity to meet their enforced goals of greater EV usage. The breaking point will come when investors worldwide abandon the U.S. dollar and American sovereign bonds that offer no real return and the banking system chock full of weak sovereign paper comes unglued. In my opinion, that will happen within the first term of Joe Biden if he is elected and heads pell-mell into the abyss of an attack on fossil fuels in parallel with uneconomical investment in so-called "renewables" with the immediate effect of decimating the millions of jobs provided by the burgeoning shale oil and gas industry and its salutary effect on balance of payments, forcing the United States to rely increasingly on foreign funding of its growing debt. Hang on to your hats, it will be a ride. For those who think I am a "climate denier" they are dead right. The combustion of all fossil fuels known to exist on Earth overnight could not create enough CO2 to materially affect global temperature on anyone's theory even if all that CO2 found its way into atmosphere, and the evidence of any "warming" is belied by the hard data on every reporting station on Earth that has any long history when the raw data is inspected rather than the intentionally misleading "anomaly" data relied on by the AGW cult which, even if accepted, shows less than 1 deg. C of "warming" over a century where the error of measurement exceeds 1 degree and the error term of the "anomaly" calculation has a standard deviation a multiple of the alleged "warming".
Climate finance is an area that should be explored before quantum computing can be commercialized
Finance people waffling about things they know in a concepts they don't grasp the beginning of. I.e. quantum computing, which has only limited applications to the actual market. It won't make your phone faster. It will, on the other hand, crack almost all of our digital security systems.
This is what I love about uk ppl are not simply judged by their ethnicity their abilities and capabilities counted more respect for the equality systems?
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Define Honest Tax payer? Tax payers at times face financial crisis due to so many external or extra ordinary circumstances due to which the liabilities remain, what about such people. Tax authorities use discretionary power and derieve a value which is beyound reach, what abt them. Even amnesty schemes wont help. Practical hardships
Angrej chale gaye unke "gandi language and kale angrej "ko chhodkar gaye hamre pass ,hindi me bolona
Dalits, gorib, yeh hai bugged Hamra ?
As for stock markets today leaving all stranded thanks to the ordinary budget which lacks a vision of the trumpheted 5trillion dollar economy. Now she will be seen for more 3months every sat or friday where all things will be reversed. Such bad bleeding of share mkt reflects how bad the mkt is confused or has outright rejected the government budget
Country can Bank on many indains rather than few Indians :
இந்தியா அளவில் பெரிய நிதி சேவையாற்றும் நிறுவனம்