The longest election campaign in India’s history has had a ho-hum impact on the local equity markets. However, speculation that one of the candidates, Narendra Modi, Gujarat state’s chief minister, might win boosted some state-based companies. Enjoy the ride, as profit taking could diminish optimism at election time.
2013 was an incredible year for the Thomson Reuters Foundation through the growth of TrustLaw, establishing Trust Women as a global movement, by shining a light on the world’s under reported stories, and providing journalism training around the world. The following Q&A is from our Foundation’s 2013 Annual Report. You can see the complete series of blog posts on our 2013 Annual Review here.
You are spreading the practice of pro bono around the world. Which countries have joined the network this year?
It’s been a very exciting year. We successfully brought on board new law firms from places where the practice of pro bono is just emerging or non-existent: Botswana, Nepal, Tajikistan, Palestinian territories, and Jordan, just to name a few. This is the direct result of our decision, in 2013, to hire staff in India, South Africa, and Brazil to recruit new members. We now have permanent staff in six countries, and within the team we speak 18 languages. This helps us massively in recruiting outstanding lawyers, NGOs, and social enterprises around the world. We are glad the efforts paid off.
How do you bring this global network together?
This year, we held events for our members in India, China, and the United States. We also make sure to engage our communities by attending major conferences around the world to promote awareness of our service. And then there are the TrustLaw Awards, an annual celebration that brings together over 150 high-level representatives from our global community. The Awards also give members an opportunity to meet face-to-face and forge lasting relationships. It’s certainly one of the highlights of our calendar.
By connecting NGOs and social enterprises with law firms, you have a direct impact on the lives of many people. Can you give us an example? (more…)
The lure to climb Mount Everest began more than 150 years ago when British surveyors determined that the 29,028 peak was the highest in the world. Since 1922, 10,998 climbers have made it above base camp and 3,648 of them reached the summit of Everest. Today’s graphic shows a timeline of those that have climbed Everest, what season they’ve done it and the average number per year.
Welcome to Thomson Reuters Exchange! Each week, we will be bringing you features from within Exchange, Thomson Reuters financial and risk publication. We created Exchange, as the name suggests, as a forum for dialogue, a digital publication where ideas and insights, information, news and analysis can be exchanged and shared across the global ecosystem of financial professionals in a dynamic, interactive format. We invite you to experience the rich content and interactive features on your iPad or Android tablet by downloading it from the App Store, Google Play or on Amazon. Or, to learn more about Exchange and stay abreast of the latest features, functionality and content in this issue and subsequent issues, visit our website.
In the second issue of Thomson Reuters Exchange Magazine – It’s All Connected – David Craig, president of Thomson Reuters Financial and Risk business unit, and Sharon Bowles, retiring MEP, Chair, Economic and Monetary Affairs Committee European Parliament, sit down to discuss the dangers of divergence and connecting the global regulatory agenda.
The financial crisis demonstrated that cooperation on regulation and oversight of the global financial system has never been more important. Regulatory divergence is not only economically costly; it encourages regulatory arbitrage and can also introduce duplicative or inefficient practices for both providers and users of capital, thereby undermining global economic growth.
DAVID CRAIG: Whilst American and European regulatory practices have diverged in several crucial areas – banking oversight, derivatives regulation and privacy protection – they have otherwise been to date remarkably consistent. Reforms are moving ahead, but gaps continue to arise which can undermine both efficiency and stability. Where do you see leadership on these issues coming from? (more…)
Digital technologies – with hardware, software, and networks at their core – will diagnose diseases in the near future more accurately than doctors can, apply enormous data sets to transform retailing and accomplish many tasks once considered uniquely human. In The Second Machine Age, MIT’s Erik Brynjolfsson and Andrew McAfee, two thinkers at the forefront of their field, reveal the forces driving the reinvention of our lives and our economy. Drawing on years of research and up-to-the-minute trends, Erik and Andrew identify the best strategies for survival and offer a new path to prosperity. These include revamping education so that it prepares people for the next economy instead of the last one, and embracing policies that make sense in a radically transformed landscape.
Check out the latest installment in our TechVision series:
Jury Verdict Research® recently released the 53rd Edition of the Current Award Trends revealing that the highest compensatory median awards for premises liability claims are against owners/operators of industrial properties.
The study is based on verdicts rendered from 2006 through 2012.
The graph (above) highlights the median compensatory awards for premises liability claims.
Hong Kong is a latecomer to the sukuk markets and if the government issues its announced $500 million to $1 billion sukuk this year, it will also have been a long time coming since Hong Kong first announced its ambitions for its participation in sukuk markets. Despite the delays, it will be a significant development and could provide a market for many issuers who have not participated in sukuk markets.
The Hong Kong government has been forthcoming about its strengths and weaknesses in building a sukuk market as a result of its cooperation with Malaysia to learn the ‘how-to’s of the sukuk markets. The Deputy Chief Executive of the Hong Kong Monetary Authority Peter Pang explained that Hong Kong has focused its collaboration with Malaysia to “deepen co-operation with Malaysia in the development of Islamic finance”. The Deputy Governor of Bank Negara Malaysia Dato’ Muhammad bin Ibrahim added that Malaysia would offer its “expertise in structuring, managing and distribution of sukuk [and] advice on legal and sharia matters”.
Gateway to China (more…)
Spain’s top seven listed lenders relied heavily on trading gains in 2013 to make up for falling net interest income. The banks have sold lots of their government bonds ahead of Europe-wide health checks of their assets this year, leading analysts to believe trading gains are likely to fall in 2014. Today’s graphic breaks down banking income for Spain’s top seven banks.
World Cup fever is hitting Brazil this June as more than half a million global soccer fans flock to the country for the month long event. Brazil is expecting the event to boost its economy by creating thousands of jobs. The flip side is that Brazilian inflation may also rise a bit. Check out this video to see how you can use Thomson Reuters Eikon to track Brazil’s inflation worries.
Read more on the Thomson Reuters Eikon blog.
The Securities and Exchange Commission’s guidance update this week on investment adviser use of social media and the applicability of the testimonial rule will help ease uncertainty over using of certain features of social media sites like Yelp, Foursquare, Facebook and LinkedIn.
The guidance, in the form of 9 questions and answers, primarily focused on the use of third-party review sites and whether it would trigger a testimonial violation. The guidance included specific examples opening the door to using Yelp, Foursquare or a similar site that offers a business review feature, granted certain conditions are achieved. (more…)