South Korea has been actively pursuing talks with some nations for nuclear energy projects, as its president aimed to revive the country’s nuclear energy industry and boost nuclear power’s contribution to 30 percent by 2030. Trade, Industry, and Energy Minister Lee Chang-yang visited the Czech Republic and Poland last month to promote South Korean nuclear…
South Korea to Restart Nuclear Power Plant Exports Under Yoon’s Leadership
The Deadly Wisdom of Economics
Commentary The war in Ukraine has emphasized Western Europe’s dependence upon Russian energy exports, and a group of mainstream economists decided to consider what might happen to the German economy if Russia effectively reduced the supply of energy to Germany by 10 percent. Their conclusion, in a working paper entitled “What if? The macroeconomic and…
Climate Skeptic Banker Becomes Newest ‘Cancel Culture’ Victim
News analysis Cancel culture is growing more prevalent in the financial industry, with a prominent HSBC executive being its latest victim. Stuart Kirk, a top executive at HSBC Holdings announced on July 7 that he had resigned from his position after facing backlash from climate groups. Kirk, who was the global head of responsible investments at the…
Climate Skeptic Banker Becomes Latest ‘Cancel Culture’ Victim
News Analysis Cancel culture is growing more prevalent in the financial industry, with a prominent HSBC executive being its latest victim. Stuart Kirk, a top executive at HSBC Holdings announced on July 7 that he had resigned from his position after facing backlash from climate groups. Kirk, who was the global head of responsible investments at the…
Elon Musk Reacts to Twitter Lawsuit Threat
Billionaire tech mogul Elon Musk reacted with a series of memes to Twitter’s preparations to sue him in a bid to force him to buy the social media platform for $44 billion. In a late-night Twitter post on Sunday, Musk shared a meme featuring with images of himself laughing, along with captions that marked several…
Chinese Steelmakers Report Crippling Losses From Weak Demand
July 10, 2022
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Chinese steelmakers have reported significant losses from weak demand and low prices. Data released on June 28 showed that only 15 percent of Chinese steel mills remain profitable, a 27 percent drop from the first quarter and a 59 percent plunge compared to the same period last year. According to China’s National Bureau of Statistics,…
Startup Backed By Billionaire Investors Crusades Against Climate Investing, ‘Stakeholder Capitalism’
A few years ago, it would have been hard to imagine an activist hedge fund gaining three board seats at America’s largest oil and gas company. A fledgling fund called Engine No. 1 with just 0.02 percent ownership in ExxonMobil, voted out three board members at the oil giant in 2021, scoring a victory for…
The Failure of Market Timing and the Value of Risk Management
July 8, 2022
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Commentary Many advisors promote passive investment strategies by pointing to studies showing investors fail at “market timing.” Such was a point made recently by Ralph Wakerly. To wit: “So-called experts are telling us about the coming uber-bear or why the bull market will continue. Yet the data show that predicting the market’s direction to time buys…
US Sanctions Network for Selling Iranian Oil to China, East Asia
July 7, 2022
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Asia & PacificBusiness & MarketsChinaChina Business & Economycommoditieseconomic policiesInternationalInvestmentiranian oilMarketsMiddle EastpetroleumUSUS NewsUS-China relationsWorld
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The United States on Wednesday sanctioned an international network of companies for having allegedly violated oil sanctions on Iran by selling Iranian oil to China and other countries in east Asia. The Treasury Department said in a release it imposed sanctions on the companies that are accused of having facilitated the sale of hundreds of…
What’s Behind the Current Market Crash
July 6, 2022
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News Analysis The first half of 2022 has seen financial market carnage of historic proportions, from stocks to bonds and even cryptocurrencies. Analysts say the rout is part of the process of markets assessing how severe the next recession will be, along with the reckoning that central banks no longer have the markets’ back. “There’s…
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