Saturday, February 6, 2016

BUSINESS NEWS

Economy is ‘uncertain, uneven and underwhelming’

Craig Wright, chief economist at Royal Bank of Canada, admits he is slightly more optimistic than the consensus in his economic outlook. Yet he acknowledges that the economic recovery is “uncertain, uneven and underwhelming.”

THE JOURNAL

No clear solutions for global economic inequality

While world economic growth is on the rise, inequality has worsened. According to a recent Oxfam report, 62 billionaires now own as much as the poorest half of the world’s population

Digicel launches ad blocker in Cayman with little fanfare

Digicel has been rolling out a new network-level ad blocker across the Caribbean over the past couple of months to stop online advertisements from going over its network.

Cayman’s local lesson from the foreign media culture

All the fuss over the recent BBC documentary should not be about its content but rather how we managed to get “spun” so easily by a journalist yet again.

‘We are facing a secular economic breakdown’

The good thing about an interview partner like David Levy is the clear and outspoken messages you get. The chairman of the Jerome Levy Forecasting Center, based in Mount Kisco, New York, does not shy away from assessments that differ significantly from the market consensus.

Economy is ‘uncertain, uneven and underwhelming’

Craig Wright, chief economist at Royal Bank of Canada, admits he is slightly more optimistic than the consensus in his economic outlook. Yet he acknowledges that the economic recovery is “uncertain, uneven and underwhelming.”

CAYMAN FINANCIAL REVIEW

Appreciating the remaining risks of bankruptcy strip-off of home mortgages

Investments in mortgage-backed debts carry reduced risk in light of the special protections afforded to collateralized claims. Second-lien investing, however, is subject to enhanced risk due to the greater likelihood of collateral value insufficiency.

Financial internships and the Foreign Corrupt Practices Act

American regulators have recently been scrutinizing financial institutions’ internship programs for potential violations of the Foreign Corrupt Practices Act.1 The United States Securities and Exchange Commission recently announced its first internship-related FCPA settlement with Bank of New York Mellon Corp.

Caribbean grapples with problem of bank de-risking

One potential mechanism to improve their AML systems is through the Inter-American Development Bank’s technical cooperation RG-T2224. It provides a grant to support member countries in their efforts to prevent money laundering and terrorist financing, in compliance with the new FATF standards.

Oil price instability and policy uncertainty in an OPEC world

The number of oil rigs in the United States quickly fell by more than 50 percent. The magnitude and speed of the collapse was rivaled only by the 1986 OPEC shock and the 2008 financial crisis.

Read more from the Cayman Financial Review

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