Latest from Nick Esposito

• Feb 28, 2023

  The UK and EU get Brexit re-done

  

  From the BBC World Service: The United Kingdom and European Union have renegotiated part of the Brexit deal that had been causing huge problems in Northern Ireland; new policies have been drawn up covering goods travelling into the country from England, Scotland and Wales. The BBC Northern Ireland Business and Economics Editor John Campbell runs us through the small print. Plus, with blackouts regularly affecting huge parts of South Africa, BBC correspondent Vumani Mkhize reports on the impact on the country’s wine industry.

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• Feb 27, 2023

  Productivity has been on a decline, but we can fix it

  

  Worker productivity has been on the downswing for the better part of the last decade and a half, a new report from the McKinsey Global Institute finds. The good news for the economy, according to McKinsey Director Olivia White, is that there are ways that trend can be reversed. With the economic storm clouds seemingly being pushed back for now, we check in with Julia Coronado, president of the National Association of Business Economics, about what the organization’s recent survey of economists says about attitudes toward the economy. And, federal regulators have warned banks about the risks of investing in crypto. 

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• Feb 27, 2023

  A pinch of relief for new and lower-income homebuyers

  

  The Biden administration announced last week that it would  lower rates on mortgage insurance for federally-backed mortgage loans. We look into how that could save some cash for new and lower-income prospective homebuyers. That value of retirement savings accounts decreased by over 20% in 2022, according to a new report from Fidelity. China, in response to increasing energy demand, opened a significant number of new coal plants last year and extended the life of existing facilities. And, the BBC reports on talks between the leaders of the EU and UK on averting a potential trade dispute over Northern Ireland.  

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• Feb 27, 2023

  The global crypto clampdown

  

  From the BBC World Service:  The world’s largest economies have been meeting over the weekend. High up on the agenda – and supported by the IMF and the US –  was the regulation of crypto assets. The BBC’s Will Bain has been speaking to industry insiders about what could be achieved. A deal between the UK and EU over the controversial Northern Ireland protocol also seems to be on the cards as UK Prime Minister Rishi Sunak and EU Commissioner Ursula von der Leyen are set meet on Monday, and the BBC’s Jonathan Head reports on Thailand’s struggling elephant tourism sector.

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• Feb 24, 2023

  High oil profits and war may actually boost the green transition

  

  The war in Ukraine and the accompanying energy crunch was great news for oil companies, many of which posted profits that neared or broke records. That may sound bad for the climate, but as the Economist’s Vijay Vaitheeswaran argues, it could actually lead to an acceleration in the transition to greener energy. The U.S. and allies announced they would impose new sanctions on Russia today, the one-year anniversary of the invasion. And, a look at how Russia’s economy is faring under the existing sanctions regime.

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• Feb 24, 2023

  Move over Silicon Valley, NYC wants to become the next tech hub

  

  As technology becomes an increasingly large share of the U.S. economy, tech firms are setting up shop in cities outside of the traditional confines of Silicon Valley. We look at the burgeoning sector in New York City with Julie Samuels, president and director of Tech:NYC, a trade group. The Biden administration has announced new sanctions on Russia in concert with European allies — the additional U.S. restrictions are designed to hit Russian imports and individuals. And, a look into why GDP estimates are almost always changed after they’re released. 

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• Feb 24, 2023

  The war in Ukraine, one year on

  

  From the BBC World Service: One year on since the invasion of Ukraine, we ask what has been the cost to both Ukraine and Russia. We find out how the Russian economy has been able to withstand western sanctions, what brands remain, plus we hear how Ukraine could look to rebuild after the conflict

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• Feb 23, 2023

  Strikes and other labor actions went up a lot last year

  

  The number of strikes and other forms of labor organization — such as forming unions — increased sharply in 2022 from 2021. We look into how the strong job market could have contributed to the momentum behind workers. The stock market has been turbulent as of late, reflecting broader unease over the question of “how is the economy doing?” We check in with KPMG Chief Economist Diane Swonk, who says it’s likely a mix of good and bad. And, a look at a program at the University of Michigan’s School of Business to transform students’ interest in management into a real passion. 

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• Feb 23, 2023

  So far, Russia sanctions get a C+ for effectiveness

  

  Nearly a year on from Russia’s invasion of Ukraine, the sanctions regime imposed on Vladimir Putin’s regime by the West and its allies looks to be less effective than initially hoped. According to Brooke Harrington, a professor at Dartmouth, that’s been due in part to the difficulty of sanctioning assets that are being held in the nebulous world of international offshore wealth management. And, a look at what the potential ramifications of a U.S. debt default could be if the federal government fails to raise the nation’s debt ceiling. 

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• Feb 23, 2023

  What’s at stake in Nigeria’s upcoming elections?

  

  From the BBC World Service: It’s the last day of campaigning in Nigeria, the largest economy in Africa. With the country going through economic turmoil, BBC presenter Alan Kasujja is in the capital city Lagos with elections being held on Saturday. Plus a year in to the Ukraine war BBC’s Leanna Byrne investigates the impact of sanctions on the Russian economy.

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