Why regulators need to worry about non bank runs

Share to Twitter Share to Linkedin Glastonbury is in the air with both the record-breaking youngest ever headliner, Billie Eilish, and the oldest, Sir Paul McCartney, taking to the stage. Festival goers have splashed the cash on tickets, transport and tents; all of which might paint a picture of positivity when it comes to the UK’s finances. The reality is much more off-key. Consumer confidence is now at its lowest level for years as many face a cost-of-living crisis, with essentials such as food and fuel prices continuing to spiral. GfK data confirms this. The data company's monthly index which ‘checks the temperature’ of consumer confidence decreased by one point , to -41, in June and a record low. The survey which has been running for over forty years, asks consumers how they feel about personal finances and the UK economy. Despite covering past periods of recession and hardship, today’s consumers say they are feeling financial pain like … [Read more...] about Brits Enjoy Summer Of Festivals & Travel Before Increased Economic Worries

- A + A COLOMBO (June 27): Sri Lanka will shut schools and only allow fuel supplies to services deemed essential like health, trains and buses for two weeks starting Tuesday, a minister said, in a desperate attempt to deal with a severe shortage. Sri Lanka is suffering its worst economic crisis, with foreign exchange reserves at a record low and the island of 22 million struggling to pay for essential imports of food, medicine and, most critically, fuel. Industries like garments, a big dollar earner in the Indian Ocean nation, are left with fuel for only about a week to 10 days. Current stocks of the country will exhaust in just under a week based on regular demand, Reuters calculations show. Sri Lanka will issue fuel only to trains and buses, medical services and vehicles that transport food starting Tuesday until July 10, Bandula Gunewardena, the spokesman for the government cabinet, told reporters. Schools in urban areas will be shut and everyone is urged to … [Read more...] about Sri Lanka stops fuel supply to non-essential services as crisis worsens

India’s gig economy could employ 2.35 crore people by FY30, representing a three-and-a-half-times increase over 10 years, a report by the government think-tank NITI Aayog estimates. The gig economy employed around 68 lakh people in FY20, India's Booming Gig and Platform Economy: Perspectives and Recommendations on the Future of Work report released on June 27 said. The total number of employed persons in India in FY20 is estimated to be 51.10 crore. The report expects the number to rise to 56.96 crore by FY30. Usually temporary and part-time, gig jobs can range from food delivery to driving for ride-hailing companies such as Ola and Uber. "At present, about 47 percent of the gig work is in medium skilled jobs, about 22 percent in high skilled, and about 31 percent in low skilled jobs," the report said. Close "But the trend shows the concentration of workers in medium skills is gradually declining and that of the low skilled and high skilled is increasing. It … [Read more...] about ‘Gig economy’ may employ 2.35 crore people by FY30, says NITI Aayog report

Share to Twitter Share to Linkedin One of the biggest challenges for any purpose-led brand pursuing game-changer status isn’t breeding a fanbase who ‘get it’ but selling a vital new narrative to the hardcore apathetic. For fashion, mired in climate crisis and battling the clock to cultivate a circular economy, retuning fans’ mindsets (America throws away and 2150 pieces of clothing every second and even people with positive eco intentions are loathe to sacrifice what they perceive as an identify-defining hobby ) is now mission imperative. Dutch fashion brand 1/OFF Paris, whose couturiers splice together or respectfully reinterpret iconic vintage garments to create ultra-covetable new pieces (think: a Levi’s denim jacket with Chanel’s quintessential ladies-who-lunch tweed; double layered jeans; or two oversized classic men’s blazers tailored into a freshly feminized silhouette) is doing just that. Selling to an audience including legions of the … [Read more...] about 1/OFF Paris: 400% Growth For The Upcycled Fashion Brand Taking Sustainability To Luxury’s Eco-Apathetic

(CNN) Following the US Supreme Court's decision to overturn Roe v. Wade, CNN Opinion asked a group of contributors to weigh in on the cultural, legal and political ramifications of this monumental legal opinion undoing nearly 50 years of federal abortion protection. The views expressed in these commentaries are those of the authors. SE Cupp: What politicians get wrong about the abortion debate I'm deeply worried for our country. Read More No matter where you stand on the issue -- I'm pro-life but do not support a ban on abortions -- this ruling represents a seismic shift in American life as most of us knew it. I'm 43, and Roe is older than I am. There are more people alive today who have never known an America without Roe than there are people who lived without it. Stripping away what many women have only known as a right for nearly 50 years, without putting anything in its place is dangerous. Criminalizing … [Read more...] about Opinion: The aftershocks of America’s abortion earthquake will be felt for decades

We all know that working for a company with a toxic culture is unpleasant and stressful. But research on the impacts of toxic workplaces is still surprisingly grim. One study found a toxic workplace triples your risk of depression . Research out of Harvard shows that firing a toxic jerk adds more than twice as much to a company's bottom line as hiring a superstar. Another recent study showed a toxic workplace was the single biggest predictor of whether employees would join the Great Resignation and head for the door. All of which should make it crystal clear that you don't want to lead (or work for) a company with a toxic culture. But that begs a simple but important question. What exactly makes a culture toxic? We all have vague ideas about what kind of behavior qualifies as toxic, but recently a team out of MIT set out to find a more scientific answer to this question. (They are the same group of researchers behind the study I mentioned above about toxic culture … [Read more...] about The 5 Biggest Red Flags of a Toxic Culture, According to a Study of More Than 1 Million Glassdoor Reviews

HONG KONG (Bloomberg): How does Hong Kong look to people born in the year of the handover - for whom the city has always been under Chinese sovereignty? Some feel their fate is tied to Hong Kong’s, while others feel like bystanders as Beijing tightens its grip. Many plan to leave sooner or later. We spoke to six 24- and 25-year-olds about the Hong Kong they grew up in, and the one they expect to exist in another 25 years. The returning professional "I feel helpless witnessing the changes that Hong Kong has been through,” said Keanne Lee. "At the same time, I want to keep a glimpse of hope alive that the city won’t lose its uniqueness.” Lee studied at a Hong Kong school where lessons are taught in English, then went to university in the UK. She returned to her home city after graduation, where she’s now a marketing executive for an e-commerce company. She has no plans to move abroad permanently in the near future. The growing pressure on school pupils to learn Mandarin is … [Read more...] about HK’s handover generation is caught in China’s whirlwind

- A + A (June 27): Russia defaulted on its external sovereign bonds for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. For months, Russia had found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the day on Sunday, the grace period on about US$100 million of trapped interest payments due May 27 expired, a deadline considered an “Event of Default” if missed. The route to this point has been far from normal, as Russia has the resources to pay its bills — and tried to do so — but was blocked by the sanctions. Those restrictions also mean there’s huge uncertainty about what comes next, and about how investors can go about getting their money. “With Russia benefiting from the high price of its energy exports, it clearly has both the means and the desire to pay its foreign debt,” said Giles Coghlan, chief analyst at HYCM Group. It’s a … [Read more...] about Russia slips into historic default as sanctions muddy next steps

Share to Twitter Share to Linkedin Mexican geneticist Selene Lizbeth Fernández Valverde is searching for non-coding RNA associated with particular population traits and metabolic disorders like diabetes in the Mexican population. Fernandez-Valverde , principal investigator at the Advanced Genomics Unit, Langebio of Cinvestav in Irapuato, Mexico, says this kind of RNA is naturally present in all living things, but are known as non-coding RNAs because they do not encode proteins like other RNA (like, for example, the mRNA that is the basis for some vaccines). "I study regulator molecules that turn on and off genes," she says, "For a long time they were thought to be biological noise, but it has become more apparent they are important to many processes including development and diseases." Fernandez-Valverde says she's interested in how these switches work and the processes they regulate in humans, animals and plants and particularly in how they … [Read more...] about Finding The Molecular Switches That Could Lead To Healthier Mexican Populations

Have an idea for a new product? Early on, spend some time determining what your strategy for bringing it to market will be. Is venturing required, or can you license it instead Personally, after venturing uniquely shaped guitar picks geared towards fans and licensing many of my ideas , I'd choose the latter every time. That's because running a small business, even an ultimately successful one, stressed me out. Who wants to worry about cash flow? I much preferred the freedom to keep creating that licensing affords. Primarily because you can get to market faster, licensing to a large company is also one of the best ways of protecting yourself. These are among the many benefits of licensing . If this is the route you choose, it's understandable, then, that you might be asking yourself how to get the highest royalty rate possible. Royalty rates differ across industries. Knowing what's typical can be extremely helpful when negotiating, so get familiar with the … [Read more...] about How to Get a Higher Royalty Rate For Your Invention