Financial industry leaders and policy experts addressed the thorny issue of migration in Europe after the Paris attacks during the Weathering the Global Storms: Perils and Possibilities panel discussion at CME Group’s 8th annual Global Financial Leadership Conference.
Nouriel Roubini, chairman and co-founder of Roubini Global Economics, pointed out that Europe’s economy benefits from migration in the long-term, though addressing integration and public apprehension remains challenging.
“The issue becomes even if out of a million you have five of them or 10 of them or one of them ends up being a terrorist, and attacks like in Paris, then the reaction, gut reaction of course is panic,” Roubini said.
However, Roubini noted military and diplomatic tactics are only part of the solution and that there must always be an economic aspect to any plan aimed at solving migration issues.
In addition, Roubini noted the economic downturn in Europe further alienates even European citizens, raising the risk of violence. (read more…)
Access to capital – in both large and small amounts – plays a huge role in the global water crisis. If you don’t believe that, then go ask the Terminator.
Actor and former California Governor Arnold Schwarzenegger took the stage at CME Group’s 8th annual Global Financial Leadership Conference this week and ticked off numerous examples of how a lack of political will and the accompanying infrastructure capital is stifling efforts to solve the water crisis affecting California and other regions around the world.
“We need our leaders to develop the political will to invest in projects that won’t be ready for photo ops or the next election cycle, but will be ready for the next generation,” Schwarzenegger said.
Schwarzenegger said the way California infrastructure is designed to deal with rain water is one example of outdated infrastructure that can’t be updated without capital commitments. Right now, the system is designed to funnel water back into the ocean. (read more…)
Few retailers in the world have as big and complex of a supply chain as Walmart. But the interaction between suppliers and retailers has evolved in recent years. Former Walmart president and CEO Mike Duke was on hand at CME Group’s 8th annual Global Financial Leadership Conference to discuss how the retail giant’s relationship with suppliers has evolved.
Duke was interviewed by Daniel Glickman, vice president of the Aspen Institute and former US secretary of agriculture, who pointed out just how crucial Walmart has become for many companies in its supply chain.
“I’ve talked to some of your suppliers and some of them will quietly say they sometimes worry more about what Walmart says than what the US government says because they said you have more impact on their lives in some cases than some regulatory edict coming out of Washington,” Glickman told Duke.
Duke responded that the old days of simply placing demands on suppliers is over. (read more…)
Terry Duffy is the Executive Chairman and President of CME Group, which is hosting its annual Global Financial Leadership Conference next week in Naples, Fla. Mr. Duffy chatted with SmartBrief and shared more background on the GFLC.
The Global Financial Leadership Conference is now in its 8th year … How has the event evolved?
The GFLC has evolved into one of the foremost events for leaders in our industry. This annual, two-day conference brings together some of the greatest minds in global economics and politics to discuss significant issues impacting our world. Over the years, we’ve featured former U.S. presidents, foreign heads of state, global business luminaries, and much, much more.
Virtually every speaker at GFLC comes from a field dealing with increased volatility. From geopolitics and financial markets to natural resources and media disruption, what are some of the keys to effectively handling volatility?
Volatility is a component of every market and has been since they were invented. (read more…)
Veterans Day marks a time of year when businesses across America like to highlight the initiatives they undertake to promote the hiring of military veterans. Many of these initiatives tout quantitative goals for how many veterans have been or will be hired. However, there are some individuals on Wall Street who are trying to shift that thinking and convince firms that simply hiring veterans is not enough. One of those individuals is Chris Perkins.
“Veterans need careers, not just jobs,” explains Perkins.
Perkins, who is the Managing Director and Global Head of OTC Clearing at Citi, knows what he is talking about because he has walked the walk. After serving 9 years in the U.S. Marine Corps and attaining the rank of Captain, Perkins transitioned to Wall Street in 2006. Ever since, Perkins has used lessons learned from his own transition to help the industry do a better job of helping veterans. (read more…)