The current refugee crisis is immense. Estimates expect more than a million people to apply for asylum this year in the European Union; i.e. we are talking about 0.2% in terms of total population. This would suggest that the immigration can be handled if all the countries cooperate.
Volkswagen: the largest German car manufacturer. The Porsches: the wealthiest family of Austria. Ferdinand Porsche, the engineering genius who would build the cars that ultimately dominated the German autobahn after Hitler’s war. VW is a part of (industrial) history. But recently, Volkswagen has also written a different sort of history: do you remember José Ignacio […]
Interest rate decision by the Fed Tomorrow, Thursday 17 September 2015, the federal Open Market Committee (FOMC) of the US central bank Fed will be taking an important decision. Is the Fed funds rate to be raised or not? The financial markets have accorded this decision a particularly important role. After all, the rate hike […]
Earlier this year the president of the ECB said we would have to get used to elevated levels of volatility. And it is true, the market environment has changed. The years 2009 to 2014 were subject to an asset price reflation regime. High rates of return were coupled with low volatility. This relationship has now […]
This issue of the ESG Letter focuses on the topic Water.