IMF Calls Deutsche Bank Biggest Threat To Global Economy
For nearly 150 years, the Deutsche Bank in Germany has been trusted throughout Europe. However, in recent months, the bank has instead become the riskiest financial institution in the world, according to the International Monetary Fund.
Continual Financial Downturn
Deutsche Bank AG’s share prices have decreased dramatically this year, dropping over 50%. In fact, the institution has been experiencing a steady downturn for quite a while, having dropped in value by 90% since its peak in 2007. Then in July, the bank in fact reached record lows, due at least in part to the UK’s Brexit vote, which has had a negative effect on the global economy that will likely be felt over a long period.
But the IMF’s main worry is that Deutsche Bank is over-leveraged. They’ve made a number of risky investments that could easily go bad, proving detrimental not only for them and their customers, but for the global economy in general. In the past, Germany’s financial state has had among the most significant ripple effects in Europe, with losses in German banks leading to significant losses all over. So the fear is that the current problems with Deutsche Bank could spread to other financial institutions and have a significant impact on the rest of Europe.
According to the thinktank, economic growth would slow to 0.2% in the current quarter from 0.6% in the previous three months and stagnate for the rest of the year. Growth is forecast at 1% for all of next year but conditions could worsen, it said. Its report followed a series of dire business surveys including one showing the economy shrinking at its fastest pace since 2009.
The gathering of central bankers came amid continuing uncertainty for the global economy as growth slows and market sentiment remains fragile.
What has delayed the introduction of the sensors that would make the IoT a reality? Three researchers at IBM Watson Research Center, Richard Haight, Wilfred Haensch and Daniel Friedman have suggested an answer. The problem, they believe, is that a proliferation of sensors requires electricity to operate. And this assumes a connection to local power sources. In other words, somebody has to attach wires to all of the sensors and make sure the "juice" is flowing. In a way this seems somewhat similar to the promise versus the reality of fiber to the home.
UPS hits target of 1 billion alternative-fueled miles one year early
UPS has achieved its goal of driving 1 billion miles in its alternative fuel and advanced technology fleet one year earlier than planned, and marked more than 10 years of learning from its “Rolling Laboratory” of now more than 7,200 alternative fuel vehicles. UPS’ long-term commitment to sustainability is transforming commercial transportation and logistics, spurring growth in the clean fuels market and enabling critical engineering advances. The company’s wider sustainability progress is detailed in the newly released 14 th annual Sustainability Report . We had a big sustainability goal as we set out to make the most of our rolling laboratory by driving 1 billion clean miles in alternative fuel vehicles – that’s the equivalent of well over 4,000 trips to the moon,. While attaining this goal is new, our […]
