The world will need to stop piggybacking on US pharma
New Medicare drug negotiating rules could change the global pharmaceutical research and pricing landscape The world will need to stop piggybacking on US pharma – https://on.ft.com/3En59Mg via @FT
Switzerland unveils money laundering clampdown
Alternative headline: Switzerland Unveils Swiss Banking Clampdown Switzerland unveils money laundering clampdown – https://on.ft.com/3qY2qFO via @FT
Portugal’s bid to attract foreign money backfires as rental market goes ‘crazy’
This isn’t just happening in Portugal. The financialization of housing is an issue in many countries and cities. However, the benefits need to be considered and how anf whethet locals are sharing in on the benefits. https://www.theguardian.com/world/2023/jul/29/portugals-bid-to-attract-foreign-money-backfires-as-rental-market-goes-crazy?CMP=Share_AndroidApp_Other
In charts: how privatisation drained Thames Water’s coffers
On the dangers of privatising a critical service. And the UK has done it about as bad as you can imagine. Poor regulation combined with highly indebted water provider owned by private equity sowed the seeds for an epic disaster. https://www.theguardian.com/business/2023/jun/30/in-charts-how-privatisation-drained-thames-waters-coffers?CMP=Share_AndroidApp_Other
The changing nature of globalisation
https://www.nytimes.com/2023/06/18/business/economy/global-economy-us-china.html
Declaration of Dollar Death is Premature
https://finance.yahoo.com/amphtml/news/dollarization-started-odds-chinas-yuan-020938603.html
Washington and London crack down on financial fixers for Russian oligarchs
Washington and London crack down on financial fixers for Russian oligarchs – https://on.ft.com/41rRsVV via @FT
IMF chief warns global financial stability at risk from banking turmoil
https://uk.finance.yahoo.com/news/imf-chief-warns-global-financial-165655888.html Kristalina Georgieva joins others in voicing fears about threat to world economy after recent bank collapses
America’s credit rating could get downgraded even if a default is avoided, Fitch Ratings warns – CNN
A stark warning from Fitch. Though there is no risk of something replacing the dollar as the world’s reserve currency, that is a necessary but not sufficient condition to avoid fallout from the US debt ceiling debate. https://www.cnn.com/2023/03/06/economy/us-credit-rating-fitch/index.html
Global ‘fair tax’ deal on a knife edge, says UK Treasury source
https://www.theguardian.com/business/2021/may/27/global-fair-tax-deal-on-a-knife-edge-says-uk-treasury-source?CMP=Share_AndroidApp_Other