Consumer view of U.S. post-pandemic life of low-growth and high-inflation
The Wonderstate Coffee firm, which operates three cafes and a wholesale roastery in Wisconsin, appears to be more productive than ever on paper, with fewer employees yielding higher sales. However, due to a competitive job market, the café industry is actually approximately 25% understaffed, and staff members are under pressure. To reduce the workload, Semanchin…
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Top three threats to post covid
FSI organisations have been under increased pressure to continue to deliver an array of services. All remote and hybrid working are being adjusted by them. Also, they are supporting consumers with loans and Government-backed payment schemes. The key to the pandemic response was adaptability, availability, and speed. Security and compliance are back on top as…
ECB tells banks to step up defences against hacks
The European Central Bank is telling euro zone banks zone to step up their defences against cyber-attacks. The ECB’s supervisor stated that this is also in the context of geopolitical tensions such as the stand-off between Russia and Ukraine. Andrea Enria was presenting the results of the ECB’s annual review of banks. This showed that the industry had…
BoE becomes first major central bank to raise rates since the pandemic
The Bank of England became the world’s first major central bank. They have raised the interest rates since the pandemic hammered the global economy. Also, they warned inflation was likely to hit 6% in April. The BoE said that it had to act now. This is even as the Omicron coronavirus variant sweeps Britain. Because…
Boom for banks as FX corporate needs are boosted
A boom in corporate dealmaking, surging input costs and a focus on short-term cash flows in the pandemic. This have sent companies rushing to hedge their currency exposures this year, that gives boost to the banks. The pandemic that sent revenues tanking in 2020. This has encouraged many to hedge currency risks. The reasons for…
Premium Cars drive Volkswagen profit above pre-pandemic levels
Volkswagen’s first-half operating profit is expected to reach around 11 billion euros ($13 billion). This tops the pre-pandemic levels on strong demand in Europe and the United States, particularly for Porsches and Audis. The upmarket brands were less affected by an ongoing global shortage of crucial semiconductors. In the same period last year, Volkswagen posted an…
Bank of England scraps curbs on bank dividends as pandemic crisis fades
The Bank of England scrapped its remaining pandemic curbs on dividends paid by HSBC, Barclays and other top lenders with immediate effect. This is by saying that its stress tests showed they could cope with the fallout from COVID on the economy. Bank of England Governor Andrew Bailey said that the Britain’s rapid vaccination rollout had led to…
ECB to come down on banks surfing market boom
The ECB’s top supervisor Andrea Enria said that the European Central Bank plans to come down on banks that are taking too much risk via financial instruments such as leveraged loans and equity-related derivatives. Despite the pandemic, banks had become complacent and risk-hungry after years of low rates and rising stock markets, said Enria. Pointing to a boom in…
With European recovery in sight, property investors bank on the office
Property investors are betting that demand for office space in Europe will rise as COVID vaccinations are rolled out and people return to work. Global office real estate leasing volumes dropped 31% in the first quarter. This is according to the real estate broker JLL, although Europe proved more resilient than the United States. Keith…
World Bank says will boost Covid-19 vaccination funding to $20 BLN
The World Bank pledged to boost available funding for COVID-19 vaccine purchases and deployment to $20 billion, citing a sharp increase in overall financing demand from developing countries. World Bank President David Malpass said that the global development bank had already provided more than $4 billion to 51 developing countries. This is for the purchase and deployment of COVID-19 vaccines,…