tyb's
Germany Records Slowest Economic Growth In Six Years
Germany’s economic growth rebounded slightly in the fourth quarter but slowed last year to its weakest level in nearly six years as trade tensions escalated, exports plunged, and a steep downturn in the automotive industry led Europe’s largest economy onto the brink of a recession, reported Bloomberg. Official government statics show Wednesday morning that GDP growth rate in the last three months of 2019 was 0.6%, the lowest since 2013’s 0.4% expansion
Despite the economy continuing to decelerate, there was a small notable increase in GDP growth at the tail end of the year – with some optimism that the worst of the slump could be over. A synchronized global downturn had plunged Germany into an economic decline since late 2017 when growth printed a high of 2.5% on the year. Then by 2018, growth plunged to 1.5%, and a year later, to 0.6% in 2019. Germany narrowly avoided a recession late last year as GDP contracted in the second quarter and expanded by 0.1% in the third. The economy is powered by industrials and exports, and with a global manufacturing recession still underway with a decelerating China – the hopes of a massive rebound in the European country are limited in 2020.
At the center of the global industrial slowdown is the auto manufacturing industry. Germany has yet to diversify from building cars and is still heavily exposed to global crosscurrents that persist. As a countercyclical buffer, the German government deployed increased government spending to counter declines in equipment investment and exports. After a dynamic start to the year, and a decline in the second quarter, there were signs of a slight recovery in the second half,” said Albert Braakmann, head of the Federal Statistical Office of Germany. Bloomberg economist Jamie Rush says the 2020 outlook for Germany is comparable to last year: sluggish. 2019 forecasts are 0.70%, which is barely any growth:
“Germany’s economy saw a slight recovery in growth in 4Q, according to the statistics office – that’s consistent with our slightly above-consensus expectation for an expansion of 0.2% to be recorded. Leading indicators have turned up into 2020, and we see the worst as being over for the German economy. Renewed trade tensions are the biggest risk to that view,” Rush said.
https://www.zerohedge.com/markets/germany-records-slowest-economic-growth-six-years
VENUS60 up from JBA NW
USMC KC-130 crossing French Spanish border
VENUS calls are becoming moar normal now. Were not early on. The USMC is noted because it flew in french airspace and not at high altitude.
on the VENUS calls. it's a long standing speculation that this is FLOTUS moving around. No empirical evidence can confirm it though.
SF brother.
chek't, rek't and confirmed.
>I also have to you's from Q.
Goldman Sachs’s $1 Billion Legal Hit Mars Trading Bounceback
-Bank adds to litigation reserves as 1MDB settlement approaches
-Fixed-income traders post 63% surge in comeback quarter
Just like JP Morgan….repo's.
Goldman Sachs Group Inc.’s comeback quarter for trading was marred by a $1.09 billion legal charge as the firm gets closer to a settlement of the 1MDB scandal. Profit dropped 24% in the fourth quarter and fell short of analysts’ estimates as the firm bolstered its litigation reserves by the most in four years. That offset a strong showing by Goldman Sachs’s fixed-income traders, who posted a 63% jump in revenue, according to a statement Wednesday that debuted the firm’s new reporting structure.
The 1MDB affair has been hanging over the New York-based bank since at least 2016. The global scandal involves claims of embezzlement and money laundering that triggered investigations in the U.S., Singapore, Switzerland and beyond. Goldman Sachs has been under scrutiny for years over its role in raising money for state-owned investment fund 1Malaysia Development Bhd and for the money it made on the deals – about $600 million.
Goldman Sachs revamped its reporting structure to inject more visibility into how the firm makes money, responding to calls for more clarity. The firm nixed its so-called investing & lending reporting line, often its most profitable segment in periods of rising markets but one that also drew complaints about transparency.
They will no longer report out it's proprietary trading results.
highlights:
-Net income dropped 24% to $1.92 billion, or $4.69 a share for the quarter.
-Total revenue for the year dropped 0.2% to $36.5 billion.
-Provision for credit losses jumped 51% to $336 million in the quarter, higher than analysts’ expectations.
-Investment-banking revenue dropped 7% to $7.6 billion in 2019 compared to a year earlier.
https://www.bloomberg.com//news/articles/2020-01-15/goldman-s-1-billion-legal-hit-mars-fixed-income-trading-rebound
no shit….
ELVIS41 C-17 NW