A Quick Look at World Affairs – Taipei Times



German bonds briefly positive

Yields on German 10-year government bonds moved into positive territory yesterday for the first time since May 2019 as soaring eurozone inflation raised fears of monetary tightening. At 7:15 a.m., yields briefly rose above zero to touch 0.001% for the first time since the European Central Bank launched a stimulus program in 2019 to address the risk of recession in the euro zone. A bond generates a negative return when investors are willing to pay more than the actual amount they invest in it plus the returns it offers.


Burberry plans to increase its profits

Burberry Group PLC said yesterday that sales had picked up and operating profit was likely to rise by around 35% this year as the British maker of trench coats and other luxury items sell more products at full price. The company released its profit forecast as it reported better-than-expected revenue for the last three months of last year. Same-store sales rose 7% during the period, the London-based company said in a statement. Burberry said comparable store sales in the Asia-Pacific region were flat in the period compared to two years earlier.


Shopify reaches agreement with JD.com

Canadian e-commerce giant Shopify Inc said on Tuesday it has partnered with China’s JD.com Inc (京東) to allow US merchants to sell to JD customers in China. Financial terms of the agreement were not disclosed. The deal would allow Shopify merchants to sell on JD’s cross-border platform, JD Worldwide, and open access to its 550 million active customers in China, the companies said. Shopify merchants in the United States can start selling their products in China within three to four weeks instead of waiting 12 months to do so, a wait time typically required by foreign brands to sell in the country. , said Shopify.


Goldman sets earnings record

Goldman Sachs Group Inc on Tuesday reported record full-year profits last year on the back of strong mergers and acquisitions activity, but higher spending on employee compensation and other items hurt fourth-quarter results. Full-year profits jumped 137% to $21.2 billion, an all-time high, but fourth-quarter profits fell 13% from a year earlier to $3.8 billion , the results having been weighed down by high expenses, including a 31% increase in compensation and benefits, he says. The investment bank again earned higher revenue for financial advisory services and business lending, boosting annual revenue 33% to $59.3 billion last year.


Female bank CEOs are falling back

According to a report by the German Institute for Economic Research, only eight of Germany’s 100 largest banks had women in top management at the end of last year, compared with 10 a year earlier. During the same period, the number of female CEOs in the top 200 German companies by turnover has increased. The country’s new administration has pledged to reduce its gender pay gap, which is one of the widest in the EU and the most pronounced in the financial sector of the bloc’s biggest economy. While women’s representation on bank boards and in top management positions fell from 10.5% in 2020 to 13.2%, it was 15% below representation in all sectors, according to the report.

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