NEW YORK – For the American economy – and for many other developed economies – the elephant in the room is the amount of money paid to bankers over the last five years. In the United States, the sum stands at an astounding $2.2 trillion for banks that have filings with the US Securities and Exchange Commission. Extrapolating over the coming decade, the numbers would approach $5 trillion, an amount vastly larger than what both President Barack Obama’s administration and his Republican opponents seem willing to cut from further government deficits.
IT IS no exaggeration to say that the foundations of the modern globalised world were made of sugar. In the 15th century Europeans first encountered its sweet delights. Within a couple of hundred years the coming of sea power, and with it the means to create empires across the oceans, resulted in large tracts of land in South America and the Caribbean being seized. Much of it was used in the production of sugar, which was steadily evolving from being a scarce luxury to a daily necessity.
IT was the hot new thing on Wall Street — one of those exotic investments that seem to promise untold riches for the lucky few.
And, like so many hot new things, it went cold fast.
Such was the fabulous stock-market flameout of a company called Rino International, an untested enterprise that, until recently, would have raised nary an eyebrow in the United States.
Important discussions lie ahead on the road to Rio + 20 for the global investment community - UNEP FI Global Roundtable 2011, and GLOBE 2012.
Banking and investment organizations worldwide are monitoring developments in the international financial markets preparatory to the Rio + 20 Earth Summit taking place in Rio de Janeiro, in June 2012.
The News Corporation/News of the World scandal has been described as a case study in bad management.
What was there about the company's organizational culture that led to "Murdoch's Mess"?
Many companies today operate like Russian nesting dolls, where one large figure is actually made up of many smaller ones. These organizations present a unified face to the outside world, but rely heavily on other, usually smaller, companies or external individuals to conduct many of their activities.
The London Metal Exchange (LME) has ordered Goldman Sachs, which owns a massively controversial 19-building metals warehouse in Detroit, to boost the rate at which it delivers metals for physical transfer.
The titans of international soccer are used to pampering. Motorcades. Police escorts. Five-star hotels. Lavish dinners. Cash allowances of $500 a day, and an additional $250 for their wives or girlfriends.