The Nobel Prize for Chemistry was awarded to a trio of scientists who created the lithium-ion battery. From mobile phones to más electric cars, their innovation powers our lives and has opened up the door for cleaner energy.
After traveling to Detroit this week for a series of client meetings I felt compelled to devote some space in this week's publication to chronicling some of the things that are happening in that city. I share this not just because of my own fascination with the decline and what now appears to be the rebirth of a great American city, but also because of what its renaissance may reveal to us about the pathway for future growth opportunities. más
Good news: we are living longer. And longer lifespans mean more years to enjoy retirement. The bad news is that we have to work harder to actually be able to enjoy those retirement years. más
On Friday, the US and China agreed in principle to a partial trade deal. Prior to the meetings, our base case was for modest progress, with some combination of an agreement to continue talks, China to agree to purchasing more agricultural products, and the US postponing tariff increases. más
How much do you need to save in order to retire early, or to self-insure against living longer than your life expectancy? Since both of these scenarios boil down to a longer-than-expected retirement, we can answer them with the same simulation, whose results are summarized below. más
Sterling rallied on Thursday after UK Prime Minister Boris Johnson and Irish Taoiseach Leo Varadkar agreed they “could see a pathway to a possible deal.” The Irish Times suggested that there had been “significant movement” from the UK on the customs issue. más
The 2019 Nobel Prize for Physiology or Medicine is going to three scientists who made discoveries pertaining to the impact of oxygen levels on cell behavior. Their findings paved the way for breakthroughs in many medical fields, including oncology. más
Reports of a potential agreement on exchange rates as part of US-China trade negotiations lifted the Chinese yuan on Thursday, which rallied as much as 0.55% against the USD in offshore markets, to trade below the 7.1 mark. más
Prejudice may do more economic damage than we think. We probably underestimate how many people are affected by prejudice. We also probably underestimate how widespread prejudice is. These points are particularly true for prejudice against non-heterosexuals (LGBTQ+). más
In 2018, global international tourist arrivals accelerated to 1.4 bn, two years earlier than forecasted by the World Tourism Organisation in 2010. Tourism provides communities relying on tourism with economic opportunities. But this rapid pace of growth raises concerns about over-tourism, and the related adverse environmental and social impacts. más
What do you do if your employer suddenly changes your retirement plan? On Monday GE announced that it would freeze pension plans for 20,000 employees and instead begin making defined contributions to the company 401(K) plan. It also plans to offer a limited-time lump sum payout incentive to 100,000 former employees in lieu of the future monthly U.S. GE pension plan payments they haven't claimed yet. más
Negative news on the US-China trade dispute ahead of this week’s talks undermined risk assets and boosted safe havens. A day after blacklisting several Chinese AI and surveillance firms, the Trump administration revealed visa restrictions on unnamed Chinese officials. más
Investors spent the third quarter focused on the health of the "Goldilocks" backdrop, where economic growth would remain strong enough to sustain corporate profits, but not so strong as to spark inflation and more restrictive monetary policy from the Federal Reserve. más
The UBS Chief Investment Office (CIO) believes that internet stocks offer investors exposure to enduring consumer-related secular growth trends, such as e-commerce and digital advertising, while remaining relatively insulated from trade headwinds. más
Equity markets were volatile last week, with the S&P dropping 2.5% as US economic data signaled loss of growth momentum. But stocks recovered virtually all of their losses by the end of the week following more optimistic comments from US President Donald Trump about this week’s US-China trade talks and rising expectations that the Federal Reserve will cut rates again in 4Q. más
China's top trade negotiator, Vice Premier Liu He, will arrive in Washington for talks on 10 October, amid hopes for an agreement between the US and China to ease trade tensions. más
Women in the workforce just won themselves a major sponsor. Last week, Melinda Gates, co-chair of the Bill and Melinda Gates Foundation and founder of investment firm Pivotal Ventures, said she will commit USD 1 billion to new and established partners that seek to "expand the power and influence of women in the marketplace." más
I have been on the road for the past two weeks meeting with clients in both California and Texas. While my discussions with clients covered a broad range of topics that included recession risks, Fed policy decisions, trade conflicts, energy market dynamics, negative interest rates, Brexit prospects, and bull market longevity, one subject that seemed to pop up in every meeting was the possibility of President Trump being impeached. más
To highlight climate concerns, two weeks of protests by environmental activist group Extinction Rebellion are underway in major cities around the world. Awareness of environmental issues and action to combat them are rising –sales of electric vehicles, for example, are growing fast. más
