DDoS Attacks Targeting Financial Firms Are on the Rise
The number of distributed denial-of-service attacks (DDoS) aimed at U.S. financial firms shot up 22% year-over-year as of November, according to a Financial Services Information Sharing and Analysis Center (FS-ISAC) report first provided to Bloomberg. In Europe, attacks increased 73%. Here’s how such activities work: Attackers amass a host of connected devices, called a botnet, and direct Internet traffic at a website to disrupt it or shut it down...
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Morgan Stanley’s Investing Trends for 2023
If you’re thinking future, think deglobalization, decarbonization, and technology diffusion, Morgan Stanley says. These trends are strengthened by changes in the macroeconomy, geopolitical events, and ongoing technological change, and investors may do well to consider them in their investments across asset classes...
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At Davos, Optimism About AI and Green Transition
Despite the UN Secretary General’s concern that the climate battle is being lost, a prolonged Russian invasion, a debt crisis, persistent inflation, and an ever-present pandemic, the mood at the World Economic Forum in Switzerland was surprisingly positive, according to The Guardian’s Economics Editor Larry Elliott. The optimism, Elliott writes, comes from a longing for good news and some evidence that it may be imminent...
China’s Dropping of COVID Restrictions May Boost Global Economy but Cause...
Global growth may benefit from China’s abandonment of zero-tolerance COVID-19 policies. But leaders at January’s World Economic Forum (WEF) in Davos, Switzerland were concerned about its effect on inflation, according to CNBC...
IMF: Fragmentation May Cost 7% of GDP
Trade fragmentation could cost the global economy as much as 7% of GDP, the International Monetary Fund (IMF) said in a January report. Predictions for the cost to the global economy of this fragmentation range from 0.2% to 7%, with the top-end of the predictions being equivalent to about the combined annual output of Germany and Japan...
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Trillions Available for Climate Mitigation in Global South
Money is available to help the low-income global south mitigate climate change, but to get private investors to spend it, blended finance is critical, a range of experts say. Africa alone needs $3 trillion by 2030, and the world needs between $3 and $6 trillion by 2050, according to the International Monetary Fund (IMF)...
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When the Dollar Is Strong, Investors Can Struggle
While the value of the U.S. dollar rose 9.3% in 2022 amidst hiked interest rates, nearly every major currency lost value against it, according to the U.S. Dollar Index. Though it may seem that such news would be good during a period of inflation, some economists believe it could signal trouble for investors and the overall American economy...
World Economy Looks Promising, According to U.S. and German Data
Certain indicators suggest that economic stability and recovery may well be on the horizon in the U.S. First, amidst a 3.2% expansion of the economy in the third quarter of 2022, December unemployment data showed that labor market conditions have improved, with wage inflation on its way down...
What’s in Store for the Global Economy in 2023?
As central banks combat inflation, China restarts its economy, and the Russian invasion of Ukraine persists, investors should expect some volatility in the first half of 2023, according to Wall Street predictions. The S&P 500 is expected to end 2023 at 4,078 points — about 6% higher than it ended 2022 — according to 22 strategists polled by Bloomberg...
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New Climate Policies to Be Finalized in 2023
Having laid out climate-related policies in 2022, federal regulators are tasked in 2023 with putting them into effect. How successful they are will decide in part what impact the warming planet will have on the U.S. and global economies...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...