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By Carsten Brzeski, Global Head of Macro
German industry disappointed in July and shows how fragile the cyclical rebound still is
Germany’s cyclical rebound halted in July, with industrial production falling 1.1% month-on-month, from 0% MoM in June. On the
Key insight: As banks integrate AI into their systems, they are becoming accountable for decision-making architectures that they did not design and have no real insight into. That means they need to ask their vendors some hard questions. What’s at stake: A good vendor can make risk legible, but it can never make it someone…
Aldermore has reduced the rates across its special-edition buy-to-let (BTL) range for product switches. For existing customers, the two-year fix at 70% loan to value (LTV) with no fee has been cut by 0.35% to 6.44%. This is open to individual and company landlords with a single residential investment property. The lender said this…
Vertex Pharmaceuticals (VRTX +2.10%) has dominated the market for cystic fibrosis (CF) medicines since it earned approval for its first drug in this niche in 2012. To this day, most of the company’s revenue comes from its CF franchise. In the second quarter, Vertex posted $3.33 billion in revenue, representing a 12% year-over-year increase. CF-related…
Global warming and climate change have had an undeniable impact on people around the world. Driven by the need to reduce carbon emissions and the limited supply of fossil fuels, investors are looking to back renewable energy companies in an effort to make life sustainable for future generations. Want to pitch in on protecting the planet?…
Key insight: Of all the banks involved in the 2010s FX scandal, the German lender’s consent order was the last to get dropped. Supporting data: The 2017 order had required Deutsche Bank to pay a $137 million fine, among other compliance measures. Expert quote: “Deutsche Bank secretly conspired with its competitors to rig the benchmark…
Redfin will relaunch its apartment listings business as part of a settlement agreement with federal regulators following a lawsuit that alleged it stayed out of the market in exchange for $100M from Zillow Group. The Federal Trade Commission and five state attorneys general reached the deal with Redfin and Zillow after the online apartment and…