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Kylie Jenner Cashes In On "Rise and Shine" With Merch

18.10.2019 3:22

Kylie Jenner is seeing money signs. When Kylie released her tour of the Kylie Cosmetics office, nobody could've predicted that it would've made headlines for showcasing her...


[Ticker] G7: Libra should not operate until all risks addressed

18.10.2019 2:51

A report by a G7 task force states that no digital currencies, including Facebook's Libra, should begin operations until they are proven safe and secure, Reuters reported. "Private sector entities that design stablecoin arrangements are expected to address a wide array of legal, regulatory and oversight challenges and risks," the report added. The text warns that cryptocurrencies could hinder efforts to fight money laundering, terror financing, cybersecurity, taxation or privacy.


Holding Off Stimulus in Germany Isn't Just a Political Mantra

18.10.2019 0:00

(Bloomberg) -- When German officials get nagged about delivering major fiscal stimulus, they have plenty of answers ready for why now isn’t the moment.Their arguments don’t just rely on the national obsession with budget prudence and the avoidance of debt though. Officials also cite their assessment of the current situation in Europe’s biggest economy, as well as tactical considerations on how a stimulus package would be effective.Such reasoning might be used often this week in Washington as Finance Minister Olaf Scholz and colleagues attend meetings of the International Monetary Fund, which on Tuesday called for Germany to invest more and reduce taxes to aid its faltering economy. Two days later, Chancellor Angela Merkel’s government cut its growth forecast for 2020 to just 1%, after earlier predicting 1.5%. Data due next month may even show the economy has just slipped into recession.The IMF is far from alone. Outgoing European Central Bank President Mario Draghi said last month that it is time for “fiscal policy to take charge” in the region, and is likely to repeat that refrain at his final meeting next week. Germany, with ample fiscal space built on repeated budget surpluses, is a prime candidate.While the opposition by some German lawmakers to a fiscal boost is starting to thaw, the government is holding firm for now. Here’s a look at some of the arguments they’re deploying to keep calls for stimulus at bay, based on public statements, private briefings, and confidential conversations with officials.Studying the CycleOne argument is that Germany’s slowdown doesn’t fundamentally stem from domestic weakness and the economic cycle. It’s a result of external and political factors, including global trade tensions and Brexit-related disruption. Such a situation isn’t best served by a classic stimulus response and doesn’t need measures that would normally counter the ebbing of the cycle.It’s Not AppropriateA continuation of that point is that the economy is actually close to its speed limit, with areas such as construction, where a lack of workers is causing bottlenecks, threatening to constrain expansion. Bundesbank President Jens Weidmann argued that on Wednesday, saying calls for German fiscal stimulus are “completely disconnected” from reality.“The economy is working with an almost-closed output gap,” he said in response to questions at an event in New York. “Why would you spend money when you are operating at full capacity?”Two-Speed EconomyGerman weakness has generally been limited to manufacturing and isn’t widespread, runs another argument. The auto industry has suffered from trade tensions and a slow response to the global shift toward electric vehicles. But the domestic economy remains healthy, thanks to unemployment near a record low and the benefits of extreme monetary easing.The line of reasoning holds that past spillovers from the industrial sector to the consumer aren’t happening this time, because the link between the two is weaker than it was.“It’s a two-speed Germany,” Trevor Greetham, head of multi-asset management at Royal London Asset Management, told Bloomberg Television. “The consumer is okay, and the housing market is actually rising quite strongly.”The Time Isn’t RightAnother view holds that a major budget stimulus should only be unveiled when it’s widely perceived to be needed. A fiscal boost may be more potent if announced at a time when things are really seen to be deteriorating. That was the experience in 2009 during the global financial crisis. But if ordinary people aren’t much feeling the effects of economic weakness, stimulus now could be less efficient than it otherwise would be.It Needs ThoughtA further point Weidmann made this week is that stimulus should be well aimed and not just delivered for the sake of it, suggesting the need for caution. He recommended targeted spending on infrastructure, research and education, and incentivizing work and investment through tax cuts.“It would be important to use the leeway wisely in order to promote sustainable growth in the long run and not just cause a flash in the pan,” he said.Merkel argued last month that simply spending cash isn’t what’s needed, saying “it’s currently not a lack of money” that’s the problem, and there are sufficient investment projects in the pipeline. They just need to be fast-tracked.--With assistance from Francine Lacqua.To contact the reporters on this story: Craig Stirling in Frankfurt at [email protected];Birgit Jennen in Berlin at [email protected] contact the editors responsible for this story: Simon Kennedy at [email protected], Paul Gordon, Jana RandowFor more articles like this, please visit us at©2019 Bloomberg L.P.

Failed Senate vote sets up big fight over border wall, budget

17.10.2019 23:34

WASHINGTON — The Senate on Thursday didn’t block President Donald Trump from redirecting taxpayer money to fund a border wall, laying bare the budget crisis that looms over Washington heading into November. The vote was 53 to 36 to override Trump’s veto of legislation nullifying his national emergency at the U.S.-Mexico border. That fell short, [...]


Wendy Williams Says Good Conversation, Money is The Way To Her Heart

17.10.2019 21:24

Wendy Williams says there are only two things a man must have to find the way to her heart ... good conversation, and a good chunk of change!!! We got the beloved talk show host Thursday, moments after she received her star on the Hollywood Walk of...


AT&T, Elliott in talks after activist campaign launched: sources

17.10.2019 20:36

AT&T and Elliott Management are talking about issues the activist hedge fund raised last month when it pushed for change at the U.S. telecommunications and media conglomerate, two people familiar with the matter said on Thursday.

Tags: Money

Former Pimco CEO to plead guilty for $500,000 bribes in college admissions scandal

17.10.2019 20:01

Douglas Hodge, former CEO of Pimco, is expected to plead guilty Monday in the nation's college admissions scandal.

Tags: Money

‘Get over it’: Mulvaney’s twin admissions put Trump at the center of emoluments and Ukraine controversies

17.10.2019 18:49

In admitting that Trump had personally intervened to award a multimillion-dollar summit to his own company, and that the president had also used taxpayer money as leverage to push a Ukrainian investigation into Democrats, Mulvaney embraced a Trumpian tactic: saying the quiet — and potentially illegal — part out loud.


What’s Eating Joe Biden?

17.10.2019 18:34

He was the above-the-fray front-runner a few months ago. Now he’s taking a different tone.

Tags: Money

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