Archives of “Retailers” tag

rss

China makes no 2020 GDP target – cites virus impact and global uncertainties

  
  Analysis
#  #  #  #  #  #  #

Bloomberg report that China has dropped its economic growth target completely – there is no target set for the year.

Bloomberg citing a report to the National People’s Congress it has sighted.
In 2019 the target was 6 – 6.5% for GDP, which was hit (coming in at 6.1%)

 

Jeff Bezos announces $10 billion ‘earth fund’

  
  Analysis
#  #  #  #  #  #  #  #

Amazon founder on his plan to fight climate change

Jeff Bezos announced this on his instagram account:
Today, I’m thrilled to announce I am launching the Bezos Earth Fund.⁣⁣⁣
⁣⁣⁣
Climate change is the biggest threat to our planet. I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share. This global initiative will fund scientists, activists, NGOs – any effort that offers a real possibility to help preserve and protect the natural world. We can save Earth. It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals. ⁣⁣⁣
⁣⁣⁣
I’m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common – let’s protect it, together.⁣⁣⁣
That’s a big chunk of money for the world’s richest man, but still only a dent in his $130.5B estimated net worth.

ECB announces cut to deposit facility rate by 10 bps to -0.50%

  
  Analysis
#  #  #  #  #  #  #

uropean Central Bank monetary policy decision – 12 September 2019

  • Prior decision
  • Main refinancing rate 0.00%
  • Marginal lending facility 0.25%
  • Deposit facility rate -0.50%
  • Announces rate tiering system
  • To introduce two-tier system for negative rate policy
  • Reintroduces QE, €20 billion per month from 1 November
  • Says to buy bonds as long as needed
  • To stop purchases shortly before raising rates
  • Modalities of TLTROs will be changed
  • Sees rates at present or lower levels until inflation outlook robustly converges to central bank’s aim
Overall, the decision here looks to be a weak one in terms of what markets are expecting. But the fact that QE is being reintroduced is giving bond buyers something to chew at (although it is just €20 billion per month). In my view, that’s not good enough.

(more…)

Go to top