We need to find a fairer way of providing Goods and Services to the rest of the people on Earth.Cryptocurrencies and/or Gold Standard of money....maybe the answer to fight hyperinflation caused by too much printing of paper/fiat currencies by Governments and Central Banks all over the World. (https://nomorefiatmoneyplease.blogspot.com)
But the speech itself could be enough to placate investors that have been thirsting for any signs of progress on the tax reform front.
He kept to the rough outlines of his "Better Way" tax plan: cut corporate and personal taxes, simplify the tax code, and prioritize American-made products.
Ryan did not even confirm if he is still pushing for the border adjustment tax, a key part of his plan, only saying it was an "option."
But "the main story for the markets isn't the specific details," Greg Valliere, chief global strategist at Horizon Investments, told Business Insider. "Markets just want to know the process is still alive — and it is."
Wall Street targeted the tax cuts for corporations as their No. 1 policy priority following Trump's election, saying they would bring down the burden on companies and help raise profits.
But Republicans haven't made much progress on the cuts so far due to a variety of other issues — healthcare reform and the Russia investigations, for instance — eating up much of the congressional calendar. Now, with the Senate nearing a healthcare bill of their own, the sign of forward progress may be enough to whet investors' appetites.
"The key for investors is simple: the process is still plodding along, and the markets just want to see that tax reform and tax cuts aren't dead. And they're not," Valliere said in a note to clients Tuesday.
Still, there is no guarantee that the tax reform will get done this year, as Ryan promised, and many analysts remain skeptical.
"There is reason to be concerned that barriers to its passage may be too difficult to overcome, so it will be important to hear more on how Washington can address the policy and political obstacles standing in the way," Jon Traub, managing principle at Deloitte Tax and former staff director for the House Ways and Means Committee, said after the speech
SYDNEY — After three failed attempts, Chinese mainland-traded stocks have finally been admitted to the MSCI’s Emerging Market Index, a significant step in further opening Chinese financial markets to the global investment community.
In a statement on Wednesday, the MSCI said it planned to add 222 China A Large Cap stocks beginning next year, representing approximately 0.73% of the weight of its Emerging Markets Index.
“This decision has broad support from international institutional investors with whom MSCI consulted, primarily as a result of the positive impact on the accessibility of the China A market of both the Stock Connect program and the loosening by the local Chinese stock exchanges of pre-approval requirements that can restrict the creation of index-linked investment vehicles globally,” the MSCI said.
The group said the admission to the index would be in two stages, beginning in May next year.
It added China’s weighting in the index could increase further should local regulators continue with market reforms.
“Further inclusion will be subject to a greater alignment of the China A shares market with international market accessibility standards, the resilience of Stock Connect, the relaxation of daily trading limits, continued progress on trading suspensions, and further loosening of restrictions on the creation of index-linked investment vehicles,” it said.
“MSCI will continue to monitor the situation and launch a public consultation to solicit feedback from investors once warranted.”
The MSCI Emerging Markets Index currently includes 830 stocks from 23 Emerging Markets, including global heavyweights such as Samsung, Tencent and Alibaba, along with several large Chinese banks.
A-shares, as they are known, are stocks traded in mainland China, and currently have a market capitalisation of $US6.9 trillion.
Offshore traded Chinese stocks, predominantly listed in Hong Kong, are already the largest component in the MSCI’s Emerging Market Index, accounting for 27.66% of its market weighting.
While the initial weighting of onshore-traded stocks will be significantly lower than their offshore-traded counterparts, the admission to the index could mark a significant turning point in opening up China’s financial markets to the world.
“Over the long term, assuming further liberalisation and regulatory reform of the mainland stock markets, the depth of China’s A-share market could mean China gains substantial weight within those broader indices,” Nick Beecroft, an Asian equity portfolio specialist at T. Rowe Price, told Bloomberg.
Others, such as David Loevinger, an analyst at fund manager TCW Group, suggest the small initial weighting could act as a catalyst to spur on further market reforms within China.
“More importantly it strengthens Chinese reformers that want to open China’s markets. The small index weight looks like a compromise between those asset managers that wanted China in and out,” he told Bloomberg.
Loevinger suggests that the decision today “will provide a modest boost to sentiment and flows into China”.
There’s likely to be plenty of eyes on Chinese stocks when they resume trade at 11.30am AEST.
A Bitcoin ATM is seen inside a bookstore in Acharnai in northern AthensThomson Reuters
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.
We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.
No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.
The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes:
Traditional Retail Banks vs. Online-Only Banks: Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees
Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful
Traditional Asset Managers vs. Robo-Advisors: Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for.
As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company.
After months of researching and reporting this important trend, Sarah Kocianski, senior research analyst for BI Intelligence, Business Insider's premium research service, has put together an essential report on the fintech ecosystem that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like:
Retail banking
Lending and Financing
Payments and Transfers
Wealth and Asset Management
Markets and Exchanges
Insurance
Blockchain Transactions
If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.
BII
Among the big picture insights you'll get from The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry:
Fintech investment continues to grow. After landing at $19 billion in total in 2015, global fintech funding had already reached $15 billion by mid-August 2016.
The areas of fintech attracting media and investor attention are changing. Insurtech, robo-advisors, and digital-only banks are only a few of the segments making waves. B2B fintechs are also playing an increasingly prominent role in the ecosystem.
It's not all good news for fintechs.Major hurdles, including customer acquisition and profitability, remain. As a result, many are becoming more willing to enter partnerships and adjust their business models.
Incumbents are enacting strategies to ensure they remain relevant.Many financial firms have woken up to the threat posed by fintechs and are implementing innovation strategies to stave off disruption. The majority of these strategies involve some interaction with fintech firms.
The relationship between incumbents and fintechs continues to evolve. Fintechs are no longer viewed exclusively as a threat, nor can they be ignored. They are increasingly viewed as partners, but that narrative alone is too simple — in reality, a more nuanced connection is taking hold.
This exclusive report also:
Assesses the state of the fintech industry.
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Bill Gates (left) and Microsoft CEO Satya NadellaMicrosoft
Microsoft shares could be set for a huge bump, according to Keith Weiss, an analyst at Morgan Stanley.
In a note to clients on Monday, Weiss pointed to rising earnings and increased success of the company's cloud services as possible drivers of big growth. Weiss raised his price target for Microsoft from $72.00 to $80.00 but said it could go as high as $102, a 46% increase from its current price.
Weiss laid out three main reasons he thinks Microsoft's stock price could go up dramatically this year: cloud services, consumer-facing technologies, and the company's financials.
Microsoft is expanding its market share in cloud services, which could increase earnings, according to Weiss. More companies are adopting Azure, Microsoft's cloud computing platform, and the company is increasing monetization of its online Office 365 software and machine learning offerings. The increased cloud market share could eventually total $110 billion for Microsoft, Weiss said.
Weiss thinks the non-cloud parts of Microsoft's business should be worth more than the market is currently valuing them. Investors are currently pricing the non-cloud assets at eight times free cash flow, while Weiss thinks it should be closer to 12 times. If he's right, that would add about $115 billion in value for Microsoft.
Finally, Weiss said Microsoft's financials alone should justify a higher share price.
"Microsoft's current trading premium of 16% to the S&P 500 is in line with its premium over the last two years; however, its current total return profile (CY16 to CY18 EPS CAGR plus current dividend yield) is at a ~50% premium," Weiss wrote.
If Weiss is right, Microsoft could be one of the fastest growing stocks in the tech sector. The company is up 12.72% this year. It currently trades at $70.54.
How do you determine the true value of a product or service? Is it solely based on the profit motive, or should its impact on the global good also play a major role in the equation? The feature-length documentary Real Value profiles business leaders who have seen their profits rise after taking measures to enhance their standards of sustainability.
The filmmakers focus on efforts currently taking place in North Carolina, but the lessons each subject imparts can be applied anywhere in the United States or around the world.
At Piedmont Biofuels, workers collect used fats, oils and greases and transform them into fuel. Demand for their product is at an all-time high, and they are blessedly free of the shackles and curses associated with the big oil industry.
In another segment, the president of a custom T-shirt wholesale business outlines the steps he took after the North American Free Trade Agreement essentially gutted his enterprise. He decided to place ethical responsibility above concerns for the bottom line, and integrated wind, solar and biofuel technologies into his business model. By embracing these sustainability measures, his business has grown both in profit and in its standing within the community.
The spirit of activism and environmental responsibility drives every facet of operations at Sow True Seed in Asheville. The owner of this small business fights for the rights of all people to know where their food comes from. She teaches interested parties in her community how to plant seeds, empowers others to grow their own healthy food, and donates leftover inventory to local schools and support groups.
These values also extend into workplace practices that promote a shared sense of respect, teamwork and purpose among each employee.
Interspersed between these personal profiles, viewers gain big-picture insights from panel of experts, including Dan Ariely, a Professor of Psychology & Behavioral Economics at Duke University and the founder of the Center for Advanced Hindsight.
The fascinating subjects of Real Value are relatable and inspiring entrepreneurs. Their means of driving profits through social responsibility are well within reach for the owners of all businesses large and small.
Image copyrightEPAImage captionEmmanuel Macron was seen voting earlier in Le Touquet
French President Emmanuel Macron's party has won a clear parliamentary majority, results show, weeks after his own presidential victory.
With nearly all votes counted, his La République en Marche, alongside its MoDem allies, won more than 300 seats in the 577-seat National Assembly.
The winning margin is lower than some expected, with turnout down from 2012.
The party was formed just over a year ago, and half of its candidates have little or no political experience.
The result has swept aside all of the mainstream parties and gives the 39-year-old president a strong mandate in parliament to pursue his pro-EU, business-friendly reform plans.
The second round of the parliamentary election was marked by weak voter turnout, estimated to be a record low of about 42%, down sharply on five years ago.
Correspondents say opponents of Mr Macron may simply have not bothered to turn out.
Prime Minister Edouard Philippe acknowledged the low turnout, promising his party would act for France as a whole.
What do the results show?
The comfortable majority of La République en Marche (Republic on the Move or LREM) and MoDem - surpassing the 289-seat threshold required to control the National Assembly - will be a big blow to traditional parties on both the left and right.
The conservative Republicans and their allies could form a large opposition block, with 137 seats. But this figure is down from 200 seats in the last parliament.
The Socialists, who were in power for the past five years, alongside their partners, looked set to get only 41-49 seats - their lowest tally ever.
Socialist leader Jean-Claude Cambadélis announced his retirement from the post, and urged the left "to change everything, its form and its substance, its ideas and its organisation".
Image copyrightAFPImage captionFN leader Marine Le Pen won a seat for the first time, but her party performed worse than expected
The far-right National Front (FN) party won eight seats, but it had set its sights on 15.
FN leader Marine Le Pen, 48, has won a seat in parliament for the first time, representing Henin-Beaumont, a depressed former mining town in the north. But two of her top aides, including her deputy leader, were eliminated.
Ms Le Pen said President Macron may have got a large parliamentary majority, but "he must know that his ideas are not of the majority in the country and that the French will not support a project that weakens our nation".
Where does France go from here? - Hugh Schofield, BBC Paris correspondent
It has all happened so quickly that the country feels slightly dazed.
People are looking at their new leader, and many more than voted for him are honestly impressed by his calibre. But many are also wondering: where do we go from here?
There is an unknown aspect to the coming mandate that sets it apart from all that went before.
President Macron's party didn't exist until he dreamed it up, and half of the new parliamentarians will need lessons (literally) in how to do their jobs.
And never before - at least not since Charles de Gaulle in 1958 - has a head of state had such a powerful majority, made up of men and women who depend on him so personally for their new careers.
National Front MP Gilbert Collard narrowly beat ex-bullfighter LREM candidate Marie Sara, with just 50.16% of the vote
FN deputy leader Florian Philippot lost his seat in the 6th district of Moselle to LREM's Christophe Arend
Ex-Education Minister Najat Vallaud-Belkacem was turfed out of her Rhône seat by Bruno Bonnell from LREM
Far-left ex-presidential candidate Jean-Luc Mélenchon announced his victory in Marseille over LREM first-timer, Corinne Versini
Manuel Valls, the unpopular Socialist ex-prime minister rejected as a candidate by both LREM and the Socialists, won a tight race for his Essonne seat, but his far-left opponent Farida Amrani is contesting the results
Leading centre-right figure Nathalie Kosciusko-Morizet conceded to LREM novice Gilles Le Gendre
What are President Macron's reforms?
The new French president needed a majority to push through the changes that he promised in his campaign, which include:
Budget savings of €60bn (£51bn; $65bn) in the next five years
Cutting the number of public servants by 120,000
Reforming the labour market and generous state pension schemes, bringing them into line with private schemes
The interim LREM leader, Catherine Barbaroux, said the party could now start work towards changing France:
"Far from postures, our members of parliament, through their multiple experiences, will vote for laws to unlock our economy, free up our energies, create new solidarities and protect the French," she said.
The LREM win is big enough to give the new president a good chance of weathering the inexperience and diversity of his new political army, and to push forward with bold and controversial labour reforms, says the BBC's Lucy Williamson in Paris.
Mr Macron sought gender equality in candidate selection, which resulted in a 50:50 male to female ratio.
Image copyrightAFPImage captionLREM candidates (from left to right): Retired bullfighter Marie Sara lost, but Rwandan refugee Hervé Berville and mathematician Cédric Villani look set to win their seats
