|By PR Newswire||
|January 17, 2013 04:01 AM EST||
HELLERUP, Denmark, January 17, 2013 /PRNewswire/ --
2013 will be about bridging the huge reality gap between improving conditions of the financial system with the still stumbling real economy. That job is far bigger than consensus seems willing to admit, Saxo Bank writes in its financial outlook for Q1 2013.
In the report published today, the Bank writes that the lack of confidence among small businesses in the US - a segment that represents 65% of all jobs and growth in the US - is the reason that Saxo Bank is below consensus on Q1 growth for the US but also the world. The consensus for 2013-Q1 US GDP is +1.6% but Saxo Bank says it will be closer to +0.8%
In Europe, Saxo Bank believes this year will be a critical test for Germany's attitude toward the EU project. The Germans are being forced, step by step, to accept debt mutualisation and this will have a huge impact on not only Germany's credit rating, but also its export numbers. The Bank predicts that the painfully high unemployment rate and waning growth will make Club Med more forcefully call for all-in measures from the ECB similar to what the US Fed is doing. The ECB board has a majority for printing money and this will leave the German Bundesbank contingent very isolated. Saxo Bank is increasingly worried that violations of the EU Treaty once again will be ignored when Europe-wide unemployment keeps rising in coming months.
In Asia, the Bank will keep an eye on China and its need to change its business model. China's economic experiment is now one generation old, having been born in 1979. China's next step is to move through the eye of the needle - evolving from the world's largest "emerging" economy to a fully developed superpower. In its quarterly outlook, Saxo Bank lists three key changes China will need to make this transition:
- Increasing competition to reduce corruption;
- Deeper and more developed domestic capital markets to cater for increased wealth and its storage, and, most importantly;
- An extension of social welfare programmes, particularly healthcare.
All of these will help secure the hand-over from an economy over-reliant on infrastructure building and exports to one that is balanced with domestic consumption demand. This will only happen if the propensity to save is reduced through a more comprehensive social safety net, otherwise the average Chinese will keep his 40-50 per cent savings rate forever.
Steen Jakobsen, Chief Economist, Saxo Bank A/S, says:
"Our old theme of supporting the micro economy is still our main message for 2013, as it was in 2012. We need more micro, and less macro, because the only real multiplier that works is a belief in ourselves rather than in money printing. However, we are not that pessimistic on the prospects for 2013. The downside for risk and the economy in 2013 comes down to this being a year of transition, where, first, we will try more of the same, but we will increasingly see the admission that time is running out and that something new must be tried - and that's a good thing. The 99% are ready for change now but when will policymakers wake up?"
Download the Q1 Outlook report here: http://www.tradingfloor.com/quarterly-outlook
About Saxo Bank
Saxo Bank is a leading online trading and investment specialist, offering private investors and institutional clients a complete set of tools for their trading and investment strategies. A fully licensed and regulated European bank, Saxo Bank enables clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives via three specialised and fully integrated multi-asset trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application. The platforms are available in over 20 languages and are white-labelled by more than 100 major financial institutions worldwide. Saxo Bank also offers professional portfolio and fund management as well as traditional banking services through Saxo Privatbank. Founded in 1992, the Saxo Bank Group is headquartered in Copenhagen with 23 local offices throughout Europe, Asia, Middle East, Latin America and Australia.
SOURCE Saxo Bank
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
Oct. 1, 2016 04:45 AM EDT Reads: 554
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Oct. 1, 2016 04:30 AM EDT Reads: 1,808
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
Oct. 1, 2016 04:00 AM EDT Reads: 1,654
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Oct. 1, 2016 04:00 AM EDT Reads: 5,474
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Oct. 1, 2016 04:00 AM EDT Reads: 3,125
Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his session at 19th Cloud Expo, John Mertic, director of program management for ODPi at The Linux Foundation, will explain why this is, how we can work together as an open data community to increase adoption, and the i...
Oct. 1, 2016 03:30 AM EDT Reads: 1,232
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Oct. 1, 2016 03:00 AM EDT Reads: 1,971
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 1, 2016 03:00 AM EDT Reads: 2,449
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Oct. 1, 2016 02:30 AM EDT Reads: 2,716
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Oct. 1, 2016 02:30 AM EDT Reads: 665
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Oct. 1, 2016 02:30 AM EDT Reads: 3,037
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Oct. 1, 2016 02:15 AM EDT Reads: 524
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Oct. 1, 2016 02:15 AM EDT Reads: 760
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Oct. 1, 2016 02:15 AM EDT Reads: 2,141
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Oct. 1, 2016 01:45 AM EDT Reads: 529