Investing and Global Finance News

Category Archives: International

COVID 19: Where is the Global Economy Headed?

As we all know, the entertainment and hospitality industry  suffered the biggest blow with the coronavirus pandemic.  A recent UNCTAD Report (presented in conjunction with UNWTO) has put the figure of financial loss with the international tourism sector at adding over $4trillion to the worldwide GDP for 2020 and 2021. It’s not just tourism but the domino effect that has had on related industries.

A similar loss may occur this year, the report warns, noting that the tourism sector’s recovery will largely depend on the uptake of COVID-19 vaccines globally.  Isabelle Durant, UNCTAD Acting Secretary-General, believes the answer lies in a global vaccination program.  She said:

“The world needs a global vaccination effort that will protect workers, mitigate adverse social effects and make strategic decisions regarding tourism, taking potential structural changes into account.”

This sentiment was echoed by Zurab Pololikashvili, UNWTO Secretary-who said:

“Tourism is a lifeline for millions, and advancing vaccination to protect communities and support tourism’s safe restart is critical to the recovery of jobs and generation of much-needed resources, especially in developing countries, many of which are highly dependent on international tourism.”

Another obstacle to economic recovery – worldwide – is climate change.  The Swiss Re Institute recently published a report called The economics of climate change: no action not an option which estimates a potential 10% loss in economic value to the international economy by the year 2050 because of climate change.  This research was based on temperature escalations remaining on the current trajectory, the Paris Agreement and the failure to meet the goals of net-zero emission targets.

Global Inflation

Inflation has spiraled everywhere.  According to Andrei Belousov, Russia’s First Deputy Prime Minister, there are various reasons for this: a dwindling monetary policy and reduced cross-border capital flows.  He said: “The inflation wave has affected the world’s economy quite unexpectedly. We know inflation in the US is unprecedentedly high, over 4%. An inflation wave starts… Continue Reading

Global Financial Services Market

Financiers anticipate that the financial services market around the world will see a substantial increase this year from an approximated $20,490.46 billion from 2020 to  $22,515.17 billion this year.  In 2025 the anticipated CAGR rate of growth is 6 percent with a market expectation of $28,529.29 billion The rationale behind this growth can be seen… Continue Reading

Rosalind Brewer Becomes 20th Black CEO in America

Rosalind Brewer has been named incoming CEO of Walgreens, effective March 15, 2021. This role makes Brewer, who is leaving her position as COO at Starbucks, the only Black woman to lead a Fortune 500 company. Brewer joins the other 19 Black CEOs — 17 men and two women — who have ever been listed as… Continue Reading

FinTru Opens Offices in New York

The UK-based financial services firm FinTrU opened its first North American offices in New York City. The FInTru offices are set up on Avenue of the Americas in Manhattan and represent an international growth for the award-winning fintech company. “Many of our tier one investment bank clients are based in New York so it was… Continue Reading

Brooks Brothers Changes Course Due to Corona

Brooks Brothers Changes Course Due to Corona

In March, the Brooks Brothers clothing manufacturer was praised for its quick response to the novel coronavirus pandemic. The designer brand transitioned its three US factories to produce personal protective equipment for medical teams and frontline workers. But these same factories are now at risk of becoming casualties of the virus they were working to protect… Continue Reading

Earth Day 2020 goes Digital

Earth Day 2020 goes Digital

Every year, on April 21 the world gathers to celebrate Earth Day. It is the day we are encouraged to think about the environment, consider the footprint we are leaving on this planet, and measures we can take to ensure global health. Earth Day 2020 was different, considering the novel coronavirus. Isolation regulations made it… Continue Reading

Business Leaders Contribute to the Corona Cause

Business Leaders Contribute to the Corona Cause

The world’s richest and most successful business leaders are donating billions of dollars to fight the novel coronavirus. As hospitals throughout New York and across the country scramble to find enough respirators, masks, and protective equipment for their staff, ultra-high net worth individuals are stepping up to the task. Joe Tsai and his wife Clara… Continue Reading