KPMG modelling shows a global trade war shrinking Australia’s economy by $35 billion for the loss of 285,000 jobs. Canada, the UK and the EU would be the hardest hit by a trade war. A 10% tariff hike by all countries on primary and manufactured goods would lead to a global recession similar to the GFC. The global economy would sink into a long-lasting GFC-like slump and Australia would lose hundreds of thousands of jobs in an escalating trade war set off by the US, according to modelling by KPMG. A strong global response across the world to America’s new steel and aluminium tariffs would cut Australia’s GDP by $35 billion and mean the loss of 285,000 jobs. Even at the low end of forecasts, where all countries increase tariffs by just 5%, the Australian economy would fall by 0.8 percentage points, or a drop of $15 billion with the loss of 130,000 jobs. The trade fight between China and the US is heating up, according to the latest reports. China responded to recent … [Read more...] about Australia would lose hundreds of thousands of jobs in an escalating US trade war
Trades uk
Logic Gates: The Next Phase Of High-Frequency Trading
After visiting Lime Brokerage last week, we discovered that a handful of companies have been experimenting with logic gate arrays and trading platforms. Before we go a sentence further, let’s clear up what a logic gate array is. Well, it’s an bunch of logic gates. What are logic gates? Wikipedia gives the following definition: A logic gate performs a logical operation on one or more logic inputs and produces a single logic output. The logic normally performed is Boolean logic and is most commonly found in digital circuits. Logic gates are primarily implemented electronically using diodes or transistors, but can also be constructed using electromagnetic relays (relay logic), fluidic logic, pneumatic logic, optics, molecules, or even mechanical elements. Photo: www.ee.surrey.ac.uk Essentially, what that means in English is that it’ll take an input, perform a task, and spit out an answer in a very straightforward fashion. If you’ve taken a science or computer … [Read more...] about Logic Gates: The Next Phase Of High-Frequency Trading
Why Trump’s ‘predatory’ plan to exploit Brexit makes a US-UK trade deal almost impossible
Experts say Trump’s global trade war makes a UK-US Brexit trade deal almost impossible. “[The US] believes the UK needs free trade deals and so is in a weak position. The US is maximising its leverage to exploit that weakness,” said Dr Tom Wright, director of the Center on the United States and Europe. Britain’s ability to forge a trade deal with the US is seen as a crucial test for Brexit, and for the country’s capacity to forge its future as an independent trading powerhouse. LONDON – The Trump administration will seek to exploit the UK’s weakness after Brexit, making a quick and beneficial trade deal almost impossible for Theresa May to achieve, according to leading US trade and foreign policy experts. “The Trump administration is pursuing a predatory policy towards Brexit,” Dr Tom Wright, director of the Center on the United States and Europe, a Washington-based policy group, told Business Insider. “It believes the … [Read more...] about Why Trump’s ‘predatory’ plan to exploit Brexit makes a US-UK trade deal almost impossible
Exclusive: Labour’s trade chief suggests party will have to back May’s final Brexit deal
EXCLUSIVE: Labour’s Barry Gardiner suggested the party should back May’s final Brexit deal, even if they don’t agree with it. Gardiner warned a meeting in Brussels last week that Britain will crash out of the European Union with no deal if either Westminster or European Parliament rejects the final deal. Labour’s official policy is to reject any deal which doesn’t pass its six Brexit tests. Shadow Brexit Secretary, Sir Keir Starmer, will today call for Parliament to decide what happens if the deal is rejected. LONDON – Labour should vote for whatever Brexit deal is negotiated by Theresa May, or risk crashing out of the EU without a deal, a senior member of Jeremy Corbyn’s Brexit team has suggested. Labour’s Shadow International Trade Secretary Barry Gardiner told an invite-only event hosted by German political institute Rosa Luxemburg Stiftung that politicians should think twice before rejecting May’s deal, even if it … [Read more...] about Exclusive: Labour’s trade chief suggests party will have to back May’s final Brexit deal
Australia’s fintech startups are keen to exploit the new bridge agreement with the UK
The UK-Australia FinTech Bridge has been signed by Treasurer Scott Morrison and the UK Chancellor of the Exchequer, Philip Hammond. Collaboration between Governments to identify emerging FinTech trends and policy issues, enabling better policy responses. Exploring opportunities for quicker licence processing for FinTech firms that are already licenced or authorised in the other country. Leading members of Australia’s fintech community say they are ready to use the new UK-Australia Fintech Bridge agreement to expand their startups. Treasurer Scott Morrison and the UK’s Chancellor of the Exchequer Philip Hammond signed the deal overnight. The bridge agreement outlines how governments, regulators, trade promotion agencies and industry bodies from the two countries will work together to drive fintech growth. Stuart Stoyan, the chair of industry group FinTech Australia, says the UK market is critically important. Last year’s EY FinTech Australia Census found that the … [Read more...] about Australia’s fintech startups are keen to exploit the new bridge agreement with the UK