The Five Most Important Things That Happened Today
(and what to do about them)
IMF Downgrades Global Growth,
from 3.2% to 3% and trade gets the blame. At 2.5% growth, many major economies will be in recessions. Risks are to the downside. More than 90% of the Global Economy is slowing. It’s the worst forecast since 2008.
with JP Morgan taking the lead with record revenues and credit card revenues the big winners. Goldman Sachs (GS) looks awful due to failing mergers and acquisitions. Wells Fargo is worse. Trading revenues are the drag.
from New York to Sydney nonstop, running some 20 hours. Advanced aircraft technology is making this possible. The big question is whether humans can survive that amount of time in the air. That’s earning frequent flier points the hard way.