GDP | Jotup

Tougher merger laws will boost competition and improve performance and productivity

Retrieved on:

Wednesday, April 10, 2024

ACCC, Reserve Bank, Federation, Public policy, Policy, Leg, Competition, Competition Tribunal, GDP, TGA, Treasury, Government, Tobacco

This is because a market economy, based on companies and individuals pursuing their own interests, only works if those companies and individuals face sufficient competition.

Key Points:

This is because a market economy, based on companies and individuals pursuing their own interests, only works if those companies and individuals face sufficient competition.
If Treasury and the Reserve Bank are now doing analysis, this indicates they clearly understand Australia’s competition problem.
The increased competition that will result will drive better performance and so productivity.

What’s in the reforms?

And the ACCC should decide if a merger will substantially lessen competition.
These are economic judgements that are poorly suited to first instance decision making by a court.
Third, and also hugely important, the reforms mean a merger cannot proceed if it creates, strengthens or entrenches substantial market power.
They have wanted proof it will be used in ways that reflect inadequate competition, even though the merger has not happened yet.

It recognises that substantial market power should be prevented, and certainly not strengthened or entrenched.
The latest merger that triggered the investigation can be stopped, as presumably will be others that may have followed.

What’s not yet in the reforms?

The treasurer has, however, indicated the thresholds will be set to capture the number of merger assessments the ACCC does now.
The ACCC’s approach to this was to be able to “call in” problematic mergers below the thresholds, but the treasurer has rejected this idea.
This suggests the thresholds should be set at a lower level than seems to be envisaged.
They reflect a healthy approach to increased competition in our economy which will benefit consumers, most businesses, and the wider economy.

Professor Rod Sims is an expert adviser to the Commonwealth Treasury’s Competition Task Force. He was Chair of the ACCC from 2011-2022.

An economist explains: Textbook economics is badly flawed when it comes to climate change

Retrieved on:

Wednesday, April 10, 2024

But economists are hardly infallible experts on the carbon tax and other fiscal measures implemented by governments.

Key Points:

But economists are hardly infallible experts on the carbon tax and other fiscal measures implemented by governments.
While the carbon tax increase kicked in, the Alberta fuel tax was hiked by 13 cents the same day.
In other words, the carbon tax has been a blessing for Smith as she deflects attention away from her own government’s role in raising gas prices.

Double standards

For instance, some homeowners have blamed the carbon tax for higher electricity bills in Alberta, ignoring the fact that the carbon tax does not apply to the electricity sector.
Double standards abound on the carbon tax.
While protesters chant “Axe the tax,” they ignore that fossil fuel subsidies cost them more than the carbon tax.

Textbook economics backs carbon tax

As an economics instructor, a key lesson is that the carbon tax is the least costly method to address carbon emissions.
In my pedagogical paper on climate change, I refer to McGill University economist Chris Ragan, who states that the carbon tax is more efficient than regulation.
But the carbon tax incentivizes investment in new technologies to limit the tax payment.

The limits of textbook economics

The way textbook economics approaches climate change through externalities suggests it’s simply a minor aberration.
Energy and raw materials are ignored, which means that biophysical or ecological limits are disregarded in the pursuit of growth.
Keen argues that mainstream economics assumes 90 per cent of GDP will be unaffected by climate change.
In short, he argues, mainstream economics has been complicit in the existential crisis of climate change.

Radical solutions

But it may be too little too late, necessitating radical solutions beyond the carbon tax.
In this regard, Keen argues that carbon pricing is not enough, calling for carbon rationing.
This happens by going beyond textbook economics and technical jargon by highlighting the ecological and biophysical limits to growth.

I am not affiliated with any organization. Though, I have in the past done research assistance work for the Parkland Institute.

New record of 142 natural catastrophes accumulates to USD 108 billion insured losses in 2023, finds Swiss Re Institute

Retrieved on:

Wednesday, April 10, 2024

Building, Climate change, Growth, SCS, Lightning, Insurance, Wind, Hurricane Ian, Flood, Risk assessment, GDP, Rain, Public sector, USD, Population growth, Weather

Global insured losses from natural catastrophes outpaced global economic growth over the past 30 years: From 1994 to 2023, inflation-adjusted insured losses from natural catastrophes averaged 5.9% per year, while global GDP grew by 2.7%.

Key Points:

Global insured losses from natural catastrophes outpaced global economic growth over the past 30 years: From 1994 to 2023, inflation-adjusted insured losses from natural catastrophes averaged 5.9% per year, while global GDP grew by 2.7%.
2023 was also marked by a high frequency of events as 142 insured natural catastrophes set a new record.
Hailstorms are by far the main contributor to insured losses from SCS, responsible for 50–80% of all SCS-driven insured losses.
Global insured losses from SCS accumulated to a new record of USD 64 billion globally in 2023, 85% originating in the US.

National Veterinary Association Calls on Federal Government to Address Severe Workforce Shortage

Retrieved on:

Wednesday, March 20, 2024

Establishment of a National Testing Centre for Internationally Educated Veterinarians Needed

Key Points:

The veterinary profession in Canada faces pressing challenges that demand immediate attention from the federal government.
"Given the severe workforce shortage in our profession, Canada needs a veterinary workforce enhancement program that supports expansion and innovation of clinical teaching, training, and research to develop the next generation of veterinarians in response to societal demands."
The workforce shortage poses a significant threat to the veterinary profession and its ability to provide quality care for its patients and clients.
The Canadian Veterinary Medical Association is the national and international voice for Canada's veterinarians, providing leadership and advocacy for veterinary medicine.

IFF Management's Perspective on Australia's GDP Trends

Retrieved on:

Thursday, March 14, 2024

Reserve Bank, Development, Growth, Observation, Policy, GDP, RBA, Retail

IFF Management's Expert Analysis Reveals Australia's GDP Trends and Economic Challenges, Offering Valuable Insights for Sustainable Growth.

Key Points:

IFF Management's Expert Analysis Reveals Australia's GDP Trends and Economic Challenges, Offering Valuable Insights for Sustainable Growth.
PERTH, W AUSTRALIA, Mar 14, 2024 - (ACN Newswire) - In a recent analysis conducted by IFF Management, Australia's economic landscape has come under scrutiny following the release of GDP data for the final quarter of 2023.
This observation sheds light on the broader implications of economic activity per capita, which continues to decline despite nominal growth.
Further examination from IFF Management on the data reveals a broader slowdown across various sectors, extending beyond household consumption.

Ontario Road Builders’ Association announces new Senior Director, Public Affairs

Retrieved on:

Monday, April 8, 2024

Growth, Construction, Policy, Transport, Senior, GDP, Government, Human, Public affairs

Mississauga, ON, April 08, 2024 (GLOBE NEWSWIRE) -- The Ontario Road Builders’ Association (ORBA) welcomes Steven Crombie as Senior, Director, Public Affairs today.

Key Points:

Mississauga, ON, April 08, 2024 (GLOBE NEWSWIRE) -- The Ontario Road Builders’ Association (ORBA) welcomes Steven Crombie as Senior, Director, Public Affairs today.
“I am grateful to have him on the team as we continue charting a new path for the Association.”
Steven is a seasoned public affairs professional with industry association and government experience.
“I am excited to join the Association at a pivotal time for the transportation infrastructure industry in Ontario,” said Crombie.
The Ontario Road Builders’ Association (ORBA) is the voice of the transportation infrastructure sector in Ontario.

Texas Capital ETF & Funds Management to Ring the Nasdaq Closing Bell

Retrieved on:

Monday, April 8, 2024

Corporation, Capital, ETF, GDP

Texas Capital ETF & Funds Management executives will join together at the Nasdaq MarketSite in New York City on April 8, 2024, to celebrate the launch of the Texas Capital Texas Small Cap Equity Index ETF (NASDAQ: TXSS) (the “Fund”).

Key Points:

Texas Capital ETF & Funds Management executives will join together at the Nasdaq MarketSite in New York City on April 8, 2024, to celebrate the launch of the Texas Capital Texas Small Cap Equity Index ETF (NASDAQ: TXSS) (the “Fund”).
Daniel Hoverman, head of Corporate & Investment Banking at Texas Capital, and Ed Rosenberg, head of ETF & Funds Management, will ring the Closing Bell following remarks for the occasion.
The TXSS ETF tracks the performance of the Texas Capital Texas Small Cap Equity Index, a sector GDP weighted and market-capitalization weighted diversified index designed primarily to reflect the performance of stocks in small-capitalization companies headquartered in Texas.
Key business sectors in the small cap equity index include industrials, energy, consumer discretionary, health care and real estate.

POLL: Ahead of National Beer Day, Tiger Woods Clinches Title as America’s Preferred Masters Champ to Share a Beer

Retrieved on:

Thursday, April 4, 2024

BBQ, Culture, Tax, Amendment, Prohibition, Ageing, Public policy, History, Ice cream, Beer Institute, Master, Restaurant, GDP, Cheese, Beer, Legislation

According to NIQ, last year beer sales jumped 19% year-over-year in bars compared to 2022.

Key Points:

According to NIQ, last year beer sales jumped 19% year-over-year in bars compared to 2022.
On National Beer Day, we celebrate the many ways that beer belongs in our history, culture and society.
Brewers Association, the Beer Institute is committed today to developing sound public policy and to the values of civic duty and personal responsibility.
For additional updates from the Beer Institute, visit our website and follow us on Facebook , X , LinkedIn and Instagram .

Recce Pharmaceuticals Granted New Patent in Israel for RECCE® Anti-Infectives

Retrieved on:

Thursday, April 4, 2024

SYDNEY, Australia, April 04, 2024 (GLOBE NEWSWIRE) -- Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q), the Company developing a new class of synthetic anti-infectives, today announced that the State of Israel Patent Office has formally granted Recce a new family four patent (patent number: 295116), “Process for Preparation of Biologically Active Copolymer Comprising an Acrolein Derivative and a Polyalkylene Glycol Oligomer,” with expiry in 2041.

Key Points:

SYDNEY, Australia, April 04, 2024 (GLOBE NEWSWIRE) -- Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q), the Company developing a new class of synthetic anti-infectives, today announced that the State of Israel Patent Office has formally granted Recce a new family four patent (patent number: 295116), “Process for Preparation of Biologically Active Copolymer Comprising an Acrolein Derivative and a Polyalkylene Glycol Oligomer,” with expiry in 2041.
“We are thrilled to have received this newly granted patent in Israel,” said James Graham, Chief Executive Officer of Recce Pharmaceuticals.
Israel’s pharmaceuticals and biotechnology market has a reputation for high R&D spending and an impressive international reach, with world-class export numbers and a growing market value.
Other examples include influenza A, Ross River virus, and coronaviruses, including those responsible for severe acute respiratory syndrome and SARS-CoV-2 (COVID-19).

Vemanti Gains Hospitality Digital Transformation Capabilities Across SE Asia with Acquisition of VinHMS

Retrieved on:

Wednesday, April 3, 2024

IRVINE, Calif., April 03, 2024 (GLOBE NEWSWIRE) -- Vemanti Group, Inc. (“Vemanti” or the “Company”) (OTCQB: VMNT) today announced the successful acquisition of VinHMS Pte.

Key Points:

IRVINE, Calif., April 03, 2024 (GLOBE NEWSWIRE) -- Vemanti Group, Inc. (“Vemanti” or the “Company”) (OTCQB: VMNT) today announced the successful acquisition of VinHMS Pte.
Ltd. (“VinHMS”), a Singapore-based technology solutions provider specializing in digital transformation for the hospitality industry across Southeast Asia.
In addition to its flagship hospitality management solution, CiHMS, VinHMS offers a suite of products, including asset management (CiAMS), theme park management (CiTMS), and a digital transformation solution for small hotels (CiTravel).
The company has established itself as a leader in hospitality digital transformation with a proven track record of successful implementations for numerous hotels.