Hints and tips:
...AIG has had a string of chief executives and a stop-start restructuring since its bailout in the 2008 financial crisis....
...Over the past year or so, they’ve been engaged in a program called quantitative tightening....
...Michael Mohr, global head of Xtracker products, struck a similar note....
...“If you think of computer software, it’s programming something executable . . . there’s a program that’s then converted into software that runs on your computer,” he says....
...Even traders reluctant to trade electronically now recognise “that the writing is on the wall”, she wrote in a recent note....
...They’re also sort of very ambitious kind of digitalisation programs and programs to reduce bureaucracy and red tape and actually make Germany an easier place to do business....
...Bears were quick to note the effects of warm weather in January and one-off cost-of-living adjustments to benefits payments....
...Every business that says they are “special” (like banking in the run-up to 2008, or pharmaceutical firms today) tends to be trying to pull one over on regulators and the public....
...Whereas Odyssean guidance is grounded in how everything changed after 2008 — when the Fed’s multitrillion dollar asset purchase programs and zero-interest rate policy left rate setters, like Odysseus, bound...
...If correct, that would double the productivity growth rate since the 2008 financial crisis, a substantial economic gain. The downside dangers But AI’s potential gains also have drawbacks....
...(Side note: the bank also made cringey music videos, Alphaville has discovered.)...
...In the last line of Darrell’s paper, he writes: “Backstopping the liquidity of this market with transparent official-sector purchase programs will further buttress market resilience.”...
...Not long after the 2008 global financial crisis ended, I bumped into a banker who had previously hired “rocket scientists” — the label given to graduates with good engineering and maths skills — to work...
...But Giles and Nick English, the founders of watchmaker Bremont, had reason to be happy when they received a note from Ackman....
...Founders swapping notes at the South by Southwest festival in Texas last week admitted that they had received a rapid education....
...“The situation now is very different to 2008 as a result.”...
...The bank said the funding gave it $70bn of unused liquidity, excluding money available from the new Bank Term Funding Program announced on Sunday....
...The company, Plan D LLC, owned a Gulfstream jet. In court papers reviewed by the FT, the US Virgin Islands government cites flight logs showing that the plane transported underage girls....
...Notes on private capital Private market funds have been accused of “volatility laundering” their valuations....
...The $1.4bn Hamers agreed to pay for Wealthfront, equivalent to 5 per cent of the robo-adviser’s $27bn of reported client assets, looks a bit steep now, as Lex notes....
...It’s one of the really big innovations that came out of the financial crisis in 2008....
...By the 2008 crisis, private equity had become part of the financial mainstream as it pulled off a string of ever-larger takeovers....
...Then the financial system broke in 2008....
...(Ed note: ARKK is actually “only” down 47.2 per cent this year)....
...Christopher Martin: A large scale and sustained program of public investment....
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