Magazine content – Green Magazine Online http://greenmagazineonline.com/ Fri, 01 Oct 2021 15:56:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://greenmagazineonline.com/wp-content/uploads/2021/10/icon.png Magazine content – Green Magazine Online http://greenmagazineonline.com/ 32 32 Printed Circuit Board Design and Fab Online Magazine https://greenmagazineonline.com/printed-circuit-board-design-and-fab-online-magazine/ https://greenmagazineonline.com/printed-circuit-board-design-and-fab-online-magazine/#respond Mon, 28 Jun 2021 07:00:00 +0000 https://greenmagazineonline.com/printed-circuit-board-design-and-fab-online-magazine/ Why does Siemens want a content company? In an age when new packages are coming online quickly and the number of parts available is staggering – major OEMs can have over 100,000 items on their line card – human management of it all requires supernatural powers. And that starts to explain why Siemens is paying […]]]>

Why does Siemens want a content company?

In an age when new packages are coming online quickly and the number of parts available is staggering – major OEMs can have over 100,000 items on their line card – human management of it all requires supernatural powers.

And that starts to explain why Siemens is paying $ 700 million (what?!?) For Supplyframe and its platform for component data, sourcing, and trends.

Indeed, the real value provided by Supplyframe is not only access to datasheets and parametric data, but to data trends in real time. What is available? What is the rise in demand? And for how long ? Supplyframe says it can aggregate usage patterns in its database of 10 million engineers to determine the answers to these and related questions. It can also analyze by industry and geography to determine which components are increasing or stagnating in demand. There is obvious value in this. This scale is impressive.

Now, one could argue that even real-time data is reactive, when what the supply chain needs is predictive, as in foresight. No word as to the extent to which Supplyframe customers have been bowed by the intense and increasing pressure on component inventories over the past nine months. We would like to know.

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Alternative risk premiums present a tough spot for investors | Magazine content https://greenmagazineonline.com/alternative-risk-premiums-present-a-tough-spot-for-investors-magazine-content/ https://greenmagazineonline.com/alternative-risk-premiums-present-a-tough-spot-for-investors-magazine-content/#respond Wed, 17 Mar 2021 07:00:00 +0000 https://greenmagazineonline.com/alternative-risk-premiums-present-a-tough-spot-for-investors-magazine-content/ Ask an institutional investor what qualities they want to see in a new investment, and they might well say they want it to be cheap, offer good risk-adjusted returns, and help diversify their portfolio. These are the benefits that Alternative Risk Premium (ARP) strategies claim to achieve. And that was something they managed for the […]]]>

Ask an institutional investor what qualities they want to see in a new investment, and they might well say they want it to be cheap, offer good risk-adjusted returns, and help diversify their portfolio.

These are the benefits that Alternative Risk Premium (ARP) strategies claim to achieve. And that was something they managed for the most part – at least until recently.

Adopted early on by Scandinavian pension funds, these niche investing solutions are actually a form of factor investing, except that they can take long and short positions in factors such as value. Conventional factor investing tends to be only long. In theory, strategies provide granular exposure to risk factors or premiums, helping investors to further diversify their portfolios.

ARP strategies have emerged over the past decade as investment experts attempt to develop new types of solutions to compete with and potentially replace hedge funds, which have largely failed to deliver on promises of outperformance in emerging markets. decline following the global financial crisis. The strategies are generally cheaper, and they also claim to be more transparent.

This investment argument has won its followers and has allowed ARP strategies to grow from barely zero 10 years ago to around $ 150 billion globally to date, according to consultancy Bfinance. Their typical annual target returns were 4% to 6% above a risk-free rate, a level they were reaching overall before 2018.

But then – a performance collapse.

The years 2019 and particularly 2020 were a blow for the strategies; they lost more than 10% on average from the start of the year to November, their worst performance ever. The sudden drop prompted investors to buy more funds and forced several ARP fund managers to close.

Even adopters such as London-based Pool Re, a terrorist risk reinsurer with £ 6.5bn ($ 8.4bn) in assets, are increasingly skeptical about it.

“We will need to see a significant turnaround in performance over the next six to 12 months to say definitively that we are sticking to it,” said Ian Coulman, CIO of Pool Re. “At the moment we are disappointed, but we are holding on. we watch [performance],” he said.

It is also likely to prove to be a major brake on the growth of ARP strategies in Asia. Some regional investors barely know ARP strategies and those more familiar with them have been put off by the trading behind the products, which is both complex and technical.

Indeed, the plumbing of ARP strategies is so esoteric that one of the region’s most sophisticated investors has hesitated to invest any money in it.

“The theory or back-test of alternative risk premia is very good. But we don’t really understand if it’s really good when it comes to real investments, ”admitted a senior investment executive from China Investment Corporation. AsianInvestor.

Despite all their claimed virtues, ARP strategies have a lot of work to do to regain their luster and spark the interest of Asian asset owners.

FLEXIBILITY FOCUS

Essentially, ARP strategies attempt to address a problem that increasingly plagues large asset owners: how to diversify their portfolios, using a limited range of financial tools.

Traditionally, institutional investors divide up equities, bonds and alternatives into asset classes. However, creating factor investing has allowed them to choose stocks based on attributes associated with higher returns.

To do this, they would use metrics called risk factors or premiums to beat the benchmarks. Typical factors are value, carry, momentum and volatility. These were often only long positions, mostly in equities, and often passive, although factor investing in bonds was also developed.

From there, ARP strategies were born, with investors looking for more sophisticated ways of investing. Strategies typically use quantitative methods (i.e. large amounts of data) to uncover investment opportunities that may exist in the market, then provide the portfolio with suggestions of multi-asset factors, at the both long and short.

“One of the main advantages of ARP is that it is multi-style, multi-asset, and thus allows investors to access premiums on stocks, fixed income, currencies and commodities. firsts, “Toby Goodworth, Managing Director and Head of Liquid Markets at Bfinance, said AsianInvestor.

Asset owners have particularly turned to ARP strategies as less expensive but equally rewarding substitutes for hedge funds. To do this, they were created in a more systematic and scalable way.

Strategies typically use computers to trade portfolios using predetermined rules. Additionally, ARP strategies invest primarily in highly liquid markets such as stocks, bonds, currencies or commodities, while some hedge funds invest in smaller niches, such as emerging market corporate debt. .

This means that ARP fund vehicles are more systematic, transparent and less expensive, said Duncan Moir, senior investment director for alternative investment strategies at Aberdeen Standard Investments. AsianInvestor. A typical ARP strategy charges between 0.5% and 1%, while hedge funds often charge a management fee of 2% and an incentive fee of 20%.

Goodworth said Bfinance’s clients for ARP solutions are primarily pension plans, some of which are explicitly drawn to these products because they are cheaper and more balanced in nature, compared to hedge funds which tend to be more expensive. and more tactical, often using discretionary signals.

PATHETIC PERFORMANCE

Yet for all the claims of the merits of the funds, they have failed to demonstrate their value for nearly three years.

In 2018, the ARP composite index compiled by Bfinance posted a negative return of 5.4%. In 2019, it was 3.3%. And the index fell 11% between the start of the year and November. This compares poorly with a 1.42% drop in the MSCI World Index this year.

What didn’t go well?

In large part, the poor performance is due to the fact that many ARP managers have been heavily weighted by underperforming factors such as stock value. Indeed, the value of stocks had a really painful period in the first quarter, with the stock markets first collapsing and then skyrocketing due to Covid-19.

“Naturally, in fairly turbulent times, short-volatility strategies suffer,” Goodworth said.

Chris Reeve of Aspect Capital, a London-based fund manager that offers ARP products, also said stock value was a factor in underperformance, while internal research from the Teacher Retirement System of Texas (TRS) , a $ 160 billion public pension fund, noted that asset outflows accelerated the poor performance of ARP products.

Adding insult to injury, ARP strategies performed poorly, just as the vehicles they were meant to replace generally generated decent returns. Fund of hedge fund manager Arum reported that 155 multi-strategy hedge funds with combined assets of $ 252 billion posted an average return of 0.5% during the year through the end of October.

“ARP explains only part of the returns of hedge funds. It cannot explain all the returns of hedge funds. And what we are seeing is that ARP has done a terrible job of completely replacing hedge funds. ARP has significant drawdowns this year and last year hedge funds are on the rise over the same period, ”Moir said.

Unsurprisingly, several years of disappointing performance have had an impact. Several U.S. pension plans made major buyouts in 2019 and 2020, said Matt Talbert, senior investment manager at Texas Teachers.

“We anticipate general exits of alternative risk premia and more concentrated exits in the most affected spaces until performance slows down,” he said. AsianInvestor.

Others could follow. London-based Pool Re could potentially abandon its 2.5% allocation to ARP, said Ian Coulman, chief investment officer AsianInvestor. She has been investing in ARP strategies through three quantitative managers since 2018.

This story was adapted from a feature article on How Asset Owners Think About Alternative Risk Premium Products, which originally appeared in the Winter 2020/21 edition of AsianInvestor magazine.


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Shetland, Sky, Orkney … The Isle of Scotland in the new content of GEO magazine https://greenmagazineonline.com/shetland-sky-orkney-the-isle-of-scotland-in-the-new-content-of-geo-magazine/ https://greenmagazineonline.com/shetland-sky-orkney-the-isle-of-scotland-in-the-new-content-of-geo-magazine/#respond Sun, 24 Jan 2021 08:00:00 +0000 https://greenmagazineonline.com/shetland-sky-orkney-the-isle-of-scotland-in-the-new-content-of-geo-magazine/ Far from the “mainland”, the Scottish islands wake up in February, covers the cover of GEO magazine. And we discover that they have a lot to offer through their extraordinary beauty: an abundant sea creature, ancient relics… and even traces of dinosaurs. It also includes: a stopover in Saint Helena, the reconstructed state of Kush […]]]>


Far from the “mainland”, the Scottish islands wake up in February, covers the cover of GEO magazine. And we discover that they have a lot to offer through their extraordinary beauty: an abundant sea creature, ancient relics… and even traces of dinosaurs. It also includes: a stopover in Saint Helena, the reconstructed state of Kush in Sudan, the challenges of the Great Wall of China, the black cowboys of Mississippi… to be discovered on newsstands in digital version – and in augmented reality! – from January 27.

Editorial

Live on the net

Photographer
Three photographers deliver their strong images below.

The world changes
These trees that keep the desert alive.

Soil test
And cake.

EYE of Jio
Lebanon.

To look for
Kingdom of Kush Recovered
Pyramids, necropolises, cities… Exploration, in Sudan, of a little-known ancient world.

On the first page : Scotland
Far from the “mainland”, the islands are awake. And we discover that they have a lot to offer through their extraordinary beauty: an abundant sea creature, ancient relics… and even traces of dinosaurs.

relationship
Mississippi with black riders
African Americans have also always been a part of the cowboy saga.

To look for
Saint Helena, the last stop
With its new international airport, this Atlantic confetti comes out of its isolation.

Great report
The challenges of the great wall
Formerly poorly restored, little studied, the Chinese monument is becoming the object of all attention.

GEO MEETINGS

of the world … Irene Frain.

➤ to see all GEO numbers Available in person, here it is ! Are you already loyal to GEO content? So don’t miss anything, to find Our membership plan To easily receive GEO at your home every month.

Subscribe © Jean-Michel Lenore / Naturalism.

Read also:

4 GEO 2021 calendar: the magnificent landscape of Jean-Michel Lenore
4 Scotland: A work of art from the Great Pyramid of Giza… in a cigar box
4 Scotland: on the Isle of Skye, magic of the Highlands

Reports, trips, environment… GEO takes you around the world with your daily life


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Special Events Magazine’s Content Director Lisa Hurley bids farewell. https://greenmagazineonline.com/special-events-magazines-content-director-lisa-hurley-bids-farewell/ https://greenmagazineonline.com/special-events-magazines-content-director-lisa-hurley-bids-farewell/#respond Wed, 02 Sep 2020 07:00:00 +0000 https://greenmagazineonline.com/special-events-magazines-content-director-lisa-hurley-bids-farewell/ My long-standing business motto has been, “Don’t look back and don’t look down!” But I’m looking back now. After 21 wonderful years with Special Events Magazine and The Special Event, I take a step back. Our company, Informa, has been kind enough to offer a starter package to people like me who have been around […]]]>

My long-standing business motto has been, “Don’t look back and don’t look down!”

But I’m looking back now. After 21 wonderful years with Special Events Magazine and The Special Event, I take a step back. Our company, Informa, has been kind enough to offer a starter package to people like me who have been around for a ridiculous time, and I’m taking it.

From Australia to Austin, from the Bahamas to Boston, from Dubai to Denver, my tenure at Special events allowed me to travel to amazing places. I am so grateful for this. (And my husband is envious because my passport has colder stamps than his.)

I am even more grateful for the experiences I have had with all of you.

I remember our guests walking into the gorgeous Las Vegas Wedding Luncheon in 2004 and bursting into tears because it was so beautiful. (Thanks, Cheryl Fish.)

And always, always, I’m so proud of the Special events Gala award. It was a privilege to see event professionals take the stage to enjoy the recognition they so well deserve. These moments are engraved in my heart.

I’m also grateful to the business owners who shared their stories, good and bad, for our endless articles and lists: the rental industry, business forecasts, great DMCs, and more. When I started to Special events, some great economic reporters called on me because I was unable to quantify the size and scope of our industry. We’ve made it our goal to fix that – an initiative that is even more important as our industry fights to prove it deserves COVID relief in these trying times.

The Special events The brand will be in good hands and my colleague Kathleen Stoehr of Catersource will take the reins. And you better promise me you’ll be at The Special Event + Catersource 2021 in Miami Beach in July.

Thank you for opening my eyes to the beauty, excitement and power of special events.

I wish you better and brighter days,

Lisa


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DC will not produce new content for MAD magazine “Lay Off” Senior Editor https://greenmagazineonline.com/dc-will-not-produce-new-content-for-mad-magazine-lay-off-senior-editor/ https://greenmagazineonline.com/dc-will-not-produce-new-content-for-mad-magazine-lay-off-senior-editor/#respond Fri, 05 Jul 2019 07:00:00 +0000 https://greenmagazineonline.com/dc-will-not-produce-new-content-for-mad-magazine-lay-off-senior-editor/ Looks like the cuts continue in DC. Lately we know that Tom King’s Batman run has been shortened, DC Vertigo’s classic imprint is disappearing, and they are going to stop doubling delivery titles next year. Now there is yet another victim of cuts, MAG Magazine. We learned via Newsarama that the classic satirical magazine founded […]]]>

Looks like the cuts continue in DC. Lately we know that Tom King’s Batman run has been shortened, DC Vertigo’s classic imprint is disappearing, and they are going to stop doubling delivery titles next year. Now there is yet another victim of cuts, MAG Magazine.

We learned via Newsarama that the classic satirical magazine founded in 1952 by cartoonist Harvey Kurtzman and publisher William Gaines will stop producing new content after Issue 10 in October. After that, the issues will have reprinted content.

“MAD will be leaving the newsstand after number 9. MAD # 9 will be on newsstands in early August with brand new content”, DC comic book marketing director Adam Phillips said in a message to comic book store retailers Thursday. “Issue 10 will also contain new content and will be available only through the direct market and subscriptions. Subsequent issues will feature classic MAD coins reprinted with all new covers.

With that via Twitter we also learned that MAG Magazine Editor-in-chief Dan Telfer has been “fired” by DC. In addition to being an editor, he had also written for the magazine. He had held this position since September 2017, when MAD was restarted with a new issue # 1.

At one point the book was so popular that over 2 million copies were printed with each issue in 1974. But nothing lasts forever, so it seems MAD could end soon as it makes no sense to offer subscribers reprinted content that is irrelevant at the time. As with the rest of the changes at DC, I’m assuming these changes are from WarnerMedia as these aren’t the plans we had heard about at previous DC publisher conventions.

Are you disappointed to see MAD to stop posting original content? Let us know in the comment section below!

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Source: Newsarama



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The impact of Mifid II on asset management in Asia | Magazine content https://greenmagazineonline.com/the-impact-of-mifid-ii-on-asset-management-in-asia-magazine-content/ https://greenmagazineonline.com/the-impact-of-mifid-ii-on-asset-management-in-asia-magazine-content/#respond Wed, 03 Jan 2018 08:00:00 +0000 https://greenmagazineonline.com/the-impact-of-mifid-ii-on-asset-management-in-asia-magazine-content/ The European asset management industry has just undergone its largest set of rule changes in a decade, with the introduction of the Markets in Financial Instruments Directive II (Mifid II) on Wednesday (January 3rd). But the ramifications of this new set of rules will affect many Asian fund houses and investors as well. Mifid II […]]]>

The European asset management industry has just undergone its largest set of rule changes in a decade, with the introduction of the Markets in Financial Instruments Directive II (Mifid II) on Wednesday (January 3rd). But the ramifications of this new set of rules will affect many Asian fund houses and investors as well.

Mifid II is an update to the original regulation launched by the European Securities and Markets Authority (ESMA) in 2007. The initial version focused on markets and the trading of financial instruments, while Mifid II requires companies operating in the European Union that they comply with the new regulation on markets in financial instruments (MiFIR) and for them to hold a legal entity identifier (LEI).

The new rules aim to make financial markets more open and secure, including the cost of research and the pooling of fees. But the implications are far-reaching and will include fund managers and brokers in Asia. The impact of the rules was discussed at a recent event in Hong Kong, hosted by AsianInvestor and sponsored by BNP Paribas.

Initial impact

Mifid II will require asset and wealth managers trading any asset class with their European counterparts, including legal entities and structures, companies, charities and trusts, to have an LEI registration. In addition, buying companies will have to pay for broker searches that they have received for free. And product manufacturers must designate “target markets” for their products when selling them through European distributors.

This affects Asian brokers or asset managers serving clients based in the EU and UK; they will have to comply with the new rules when negotiating in these two jurisdictions. The new regulations will also affect Asian funds investing entirely in Asian equities but with underlying European investors.

Natalie Shaw, head of liquidity distribution for Asia-Pacific at BNP Paribas, said many Asian investors are ready for Mifid ll, but the impact this will have is uncertain, especially on how whose unbundling of brokerage costs affects the production and distribution of research.

Shaw noted that an asset owner currently pays a fund manager a management fee for their expertise. If the fund were then traded with a broker at a bundled rate of 20 basis points, it could effectively pay 13 basis points for advice (such as research) and seven for execution services. Whenever the fund trades, it pays the broker for advice.

“Mifid II … tries to remove the incentive [for fund managers] pay brokers by trading more, because the end customer pays.

Shaw said BNP Paribas’ Mifid II customers pay for research through a structured mechanism, to remove any incentive to trade. Many Asian fund managers are not affected, but “fund managers who operate in Europe or manage money for European clients will have to follow a kind of unbundling”.

Count the cost of research

Haitong International Securities is also largely isolated from Mifid II due to its Chinese client base, but head of institutional equities Mark Burges Watson also sees unintended consequences.

“The Japanese clientele is largely affected because many clients in Japan are large global institutions. What I understand is that Mifid II is an economic threat as much as a regulatory threat. Many US clients are not in the scope of Mifid II, but they like the idea of ​​not having to pay for research and pressure their investors to absorb research costs, ”he said. said Burges Watson.

He sees companies react by investing in smart execution platforms, reducing costs and reassessing customer relationships.

A recent CFA Institute EU survey of Mifid II found that fund houses preferred to pay for access to analysts rather than written research, and most were willing to absorb research costs rather than bill their clients. .

“Negotiations are underway between fund managers and providers over the price of research,” said Mary Leung, advocacy manager for CFA in Asia-Pacific. ” I have [also] I heard that some fund managers here were almost ready with RPAs (research payment accounts), client agreements, and policies, but as the industry moved to payment they were under … pressure not to. not do RPA. “

As Janine Canham, COO of Sanford C. Bernstein, put it: “It’s pretty tough [for a fund manager] to justify [the need for] find out if someone else is paying for it, but you are not prepared to pay yourself ”.

“Mifid II does not talk about research [in isolation]; it’s just that research unbundling is caught in the whole incentive argument. Trailer commissions … will also be caught up [as part of Mifid II’s ban on EU firms receiving monetary and non-monetary benefits]Added Mark Shipman, Global Head of Funds and Investment Management at Clifford Chance.

Assess the risks

Shipman says companies are responding to unbundling in several ways. Brokers subject to the new regulations will likely take a one-size-fits-all approach and apply EU rules around the world. Global asset managers with a strong European footprint may take a different approach and absorb research costs or use RPAs in Asia Pacific as well. Local managers with Asian-focused businesses can choose not to participate in unbundling, unless they are forced to do so by an EU partner.

This is because Mifid II is likely to create levels of research payments, potentially increasing risk.

“I see a risk for regulators when there is de facto consolidation, which of course is quite the opposite of what they wanted, especially with small and medium-sized asset managers who are under pressure, ”Shipman said.

Keith Pogson, head of financial services for Asia-Pacific at Ernst & Young, was also concerned about the repercussions in Asia. “Are we going to see a separation of paths because of this regulatory impact? What is happening in some of the less liquid markets in this region? There are a lot of consequences that people don’t really think about yet, ”he said.

As the LEI deadline approaches, Asian investors want to know if the regulators’ ‘No LEI, no trade’ warning is enforced from day one, or if the FCA and ESMA allow a delay. of grace for operations. Shipman said his colleagues in London believed the FCA would not immediately begin enforcement action.

Stéphane Loiseau of Societe Generale, global head of execution for Asia-Pacific, estimates that well under 10% of Asian companies are LEI compliant. But he noted that HKEX had already based China’s new investor identification regime on the LEI.

Why Mifid II is important

While the full impact of Mifid II is yet to be felt, Loiseau said it offers an opportunity to adapt business models.

“We need to embrace these positive changes and we need to adapt our business models,” he said. “The cost of running an investment banking business has changed over the past five to ten years. “

The need to reduce research costs is also helping to develop innovative fintech solutions such as Credit Suisse’s use of quantitative analysis and narrative science to generate its market reports. And Shaw said BNP Paribas is one of several investing in this area by building an AI center.

“Research is blocked [the same] been taking place for decades. Things change. We’re… finding better ways to get value by using technology to improve our game, ”Shaw said.

Mifid II can make markets more transparent, but it could accelerate the disruption of traditional information flows in favor of technology, big data and AI research solutions.

The rules will also force a review of the traditional relations between brokers and buyers, in Europe, but also, increasingly, in Asia.


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Left-wing magazine content to avoid industry fads https://greenmagazineonline.com/left-wing-magazine-content-to-avoid-industry-fads/ https://greenmagazineonline.com/left-wing-magazine-content-to-avoid-industry-fads/#respond Thu, 26 Oct 2017 07:00:00 +0000 https://greenmagazineonline.com/left-wing-magazine-content-to-avoid-industry-fads/ Three large, fast-growing publishers leftist political magazine Jacobin said at a Delacorte conference Monday that they were content to focus on print and niche audiences instead of chasing the digital media staples of video and scale. On October 23, Editor-in-Chief and Publisher Bhaskar Sunkara, Creative Director Remeike Forbes and Associate Editor Elizabeth Mahony joined Columbia […]]]>

Three large, fast-growing publishers leftist political magazine Jacobin said at a Delacorte conference Monday that they were content to focus on print and niche audiences instead of chasing the digital media staples of video and scale.

On October 23, Editor-in-Chief and Publisher Bhaskar Sunkara, Creative Director Remeike Forbes and Associate Editor Elizabeth Mahony joined Columbia Journalism School Professor Keith Gessen George Delacorte for a conversation on socialism, the design of their publication and building a solid subscription base.

The quarterly print magazine promises “socialist perspectives on politics, economy and culture”. It was launched in 2010 but has grown rapidly. Its paid circulation has grown to over 36,000 from 19,263 in June of last year, and its website now attracts more than one million views each month.

“I think longer Jacobin has existed, the more people understand what our style and content is, the easier it has been for us to attract writers who can do it well enough, ”says Mahony, who joined in 2015.“ I think it’s been there. has become in itself.

Jacobin has the equivalent of 12 full-time paid employees, including three designers. Forbes, who holds a master’s degree in fine arts from the Rhode Island School of Design, says the magazine invests in design because the majority of its content is available for free and design is an integral part of print edition sales. . Sunkara estimates that 80 percent of the company’s revenue comes from print subscriptions. “You have to print well,” says Forbes. “You have to think about the product itself that is also appealing to people and that they are happy to have on their shelf. “

ICYMI: “What is bad for the nation is good for The nation’

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Articles found on Jacobinthe website and its print pages contain articles on wealth inequalities, the mass protest power, and the economic reasons The Puerto Rico Crisis After Hurricane Maria. The anti-capitalist tone encompasses topics as diverse as environmentalism (theme of issue 26), the NBA and health. “We sometimes joke that if a bot spits a Jacobin article, it would be: “It’s not culture, it’s economics!” ”, Says Mahony. “Which is a really didactic way of saying that we think there are some really material structural causes for what we’re seeing in front of our faces right now.”

While the magazine often emphasizes the importance of unions, it also highlights when they have not acted on behalf of their members. After extensive coverage of sexual harassment and assault in the post-Harvey Weinstein era, associate editor Alex Press reflected on his personal experiences to explain why collective action can help make workplaces safer, but Morgan Spector, in a separate article, pointed out the failures of the Screen Actor’s Guild to help its members.

“I have seen this happen in real life where a union stops sexual harassment and one of the main problems with sexual harassment is due to lax management,” says Mahony. “I have seen this happen many times when unions have held bosses accountable. “

Sunkara had advice for people who were considering starting their own magazine: “Start with how you’re going to make money, not all of the things you’re going to do,” he says. “The smartest people start with less ambitious short-term goals, but if [the publication] finds its market, readership and support, it could grow.

“The first two years things always go wrong, so a cushion is really important,” Sunkara says. “There are a million other products you could sell that would be more fun to sell and you would make more money – that’s where the ideology comes in. The real mechanics of it are the same. is the sale of knives. “

ICYMI: An unlikely major player in digital media: unions

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Karen K. Ho is a New York-based freelance business, culture and media journalist. She is also a former Delacorte Fellow at CJR. Follow her on Twitter @karenkho.

TOP IMAGE: Jacobin Editor and Publisher Bhaskar Sunkara, Creative Director Remeike Forbes and Associate Editor Elizabeth Mahony (left to right).



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Labuan CEO Tackles Growing Tax Transparency | Magazine content https://greenmagazineonline.com/labuan-ceo-tackles-growing-tax-transparency-magazine-content/ https://greenmagazineonline.com/labuan-ceo-tackles-growing-tax-transparency-magazine-content/#respond Thu, 08 Jun 2017 07:00:00 +0000 https://greenmagazineonline.com/labuan-ceo-tackles-growing-tax-transparency-magazine-content/ Malaysia is among many Asia-Pacific countries that will start exchanging tax information under the Organization for Economic Co-operation and Development’s Common Reporting Standard (CRS) next year. Additionally, the U.S. Financial Account Tax Compliance Act (Fatca) – which requires financial institutions in cooperating jurisdictions to file reports on their U.S. clients in Washington – is expected […]]]>

Malaysia is among many Asia-Pacific countries that will start exchanging tax information under the Organization for Economic Co-operation and Development’s Common Reporting Standard (CRS) next year.

Additionally, the U.S. Financial Account Tax Compliance Act (Fatca) – which requires financial institutions in cooperating jurisdictions to file reports on their U.S. clients in Washington – is expected to hit the country in June 2018.

Both have implications for Labuan, the Malaysian low-tax jurisdiction off the coast of Sabah province on the island of Borneo. The Managing Director of the Labuan Financial Services Authority, Ahmad Hizzad Baharuddin, spoke with AsianInvestor on the changing environment.

Q Has the global wave of tax transparency been a challenge for Labuan?

The scale and scale of the trend today is quite significant. The cost of compliance is also significant. But we have to exchange this information. We do not subscribe to the protection of those who do not respect the laws and regulations of their country of origin.

Q Have requests for greater transparency influenced the strategy?

Transparency requirement via Fatca [the US’s Financial Account Tax Compliance Act] and CRS are not new to us. For years we have been receiving and facilitating requests for [the] exchange of tax or money laundering information.

Q Why did Labuan decide to focus on niches such as leasing, captive insurance, commodity trading and wealth management?

We are evolving to meet growing demands in other areas. For example, the number of high net worth individuals is increasing in the region, so we have decided to engage in wealth management. It is about diversifying and providing solutions to a set of more demanding and more complex consumers.

Today, bank customers can access any market they want in the region. At the beginning of the Labuan Financial Services Authority, it was not readily available. Banks are also consolidating globally, and their stability requires many tools and systems to manage risk.

Labuan cannot rely on the traditional bank for its future growth. We need to be able to look at other complex and high-end financial services.

Q How does your offering differ from financial services in Singapore and Hong Kong?

We are not here to compete with Singapore and Hong Kong, but to complement them. There are things they cannot cover as well as we do here in Labuan; for example, Islamic finance. We pride ourselves on our independent capabilities in this industry, which has the potential to grow exponentially.

Q Why has the number of private foundations in Labuan increased so quickly?

We see foundations as an integral part of our wealth management solutions. The people of the region are looking for a place where they can have legally sound and secure structures.

Q How are private foundations treated under CRS?

They are designed as a reportable entity under the CRS. We have an obligation. The assets endowed with the foundation vehicle in Labuan may be elsewhere, but the whole question of access rests with the foundation, of which we know who owns, who is the ultimate owner, and who should be the ultimate beneficiaries.

Q Will China’s accession to the CRS regime significantly reduce the outflow of money from mainland China?

It all depends on how the CRS exchanges will be carried out with the other counterparties. It could be a multilateral deal, where everyone would be able to share information, but I’m not sure China will follow that path. They would probably prefer more bilateral discussions.

I believe that a reduction in the flow of funds abroad will be the result sought by authorities around the world. Even in Indonesia’s tax amnesty [last year]*, a lot of money came back to the country.

Ultimately, all of these so-called tax evaders will need to find solace in what they’ve racked up all these years and make sure they meet legal requirements. We have to understand that these are not necessarily tax evaders. [They could be] simply wishing to flee predatory regimes [that] can be abusive.

Q Among the niches you want to develop, which are the most promising?

The captive insurance market, as well as wealth management and transaction planning solutions. Today, our multinationals are growing and trying to figure out how to manage their risks, while reducing their costs. Oil companies, in particular, want to know how to best manage their portfolios.

* The Indonesian tax amnesty resulted in the declaration of foreign assets of IDR 1.03 quadrillion ($ 77.5 billion) by wealthy Indonesians, three-quarters of whom were in neighboring Singapore. Of the reported total, IDR 146 trillion ($ 11 billion) was repatriated, of which IDR 84.5 trillion was from Singapore.


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Are Taiwan’s Days Counted as a “Tax Haven”? | Magazine content https://greenmagazineonline.com/are-taiwans-days-counted-as-a-tax-haven-magazine-content/ https://greenmagazineonline.com/are-taiwans-days-counted-as-a-tax-haven-magazine-content/#respond Tue, 06 Jun 2017 07:00:00 +0000 https://greenmagazineonline.com/are-taiwans-days-counted-as-a-tax-haven-magazine-content/ As low-tax jurisdictions in Asia brace themselves for the introduction of common international reporting standards, Taiwan lags somewhat behind on this front, as companies there still openly portray the island as a paradise. tax. This is something the local financial regulator seems keen and eager to prevent, but it is lagging behind its peers in […]]]>

As low-tax jurisdictions in Asia brace themselves for the introduction of common international reporting standards, Taiwan lags somewhat behind on this front, as companies there still openly portray the island as a paradise. tax.

This is something the local financial regulator seems keen and eager to prevent, but it is lagging behind its peers in many other countries to take action.

Most developed economies are part of a broad agreement on the automatic exchange of information relating to tax matters, which uses a common reporting standard (CRS) designed by the Organization for Economic Co-operation and Development.

Things picked up steam with the enactment in 2010 of a US law, the Foreign Account Tax Compliance Act (Fatca), which requires financial institutions in cooperating jurisdictions to file reports to the US government on their US clients.

Fifty-three jurisdictions, mainly European but also South Korean, start CRS exchanges in 2017. Next year, they will be joined from the Asia-Pacific region by Australia, Brunei, China, Hong Kong, Indonesia, Japan , Marshall Islands, Macao, Malaysia, Nauru, New Zealand, Singapore and Vanuatu.

In Hong Kong and Singapore, the region’s two largest low-tax jurisdictions, which used to advertise full confidentiality to overseas clients, preparations were quietly underway for the advent of CRS. .

“Unnoticed tax haven”

Taiwan, however, seems to have a little more to do.

Alex Cobham is Managing Director of the UK Tax Justice Network, which fights tax evasion and money laundering. In March, he was stunned to receive a sales email from a Taiwanese company called Yuan Chih, urging him to take advantage of the fact that Taiwan has yet to accept the CRS protocol.

Ophélie Wang, sales manager of Yuan Chih, said in an email, “Almost all countries will participate in this international reporting system in 2017 or 2018, but not Taiwan, so we can provide the customer with a nifty way to hide perfectly its assets in Taiwan. . “

Yuan Chih’s Facebook page features the capital’s Taipei 101 tower rising above the clouds, surrounded by stacked gold coins resembling skyscrapers. The caption reads: “The unnoticed tax haven”. Taiwan’s Financial Supervisory Commission (FSC) was clearly embarrassed when AsianInvestor mentioned the solicitation.

The watchdog said in writing, “It is totally inappropriate to attract foreign clients by claiming that Taiwan did not participate in CRS. The FSC supports the progress of anti-tax avoidance measures such as CRS, Fatca or other automatic tax information exchange systems. In the long term, participating in the CRS Tax Information Clearinghouse will help our banking industry to increase transparency, reputation and do business with sound operations.

Taiwan introduced its offshore banking units (OBUs) in 1983. The FSC said its goal was to help Taiwan compete with other financial centers by providing tax and foreign exchange benefits to offshore clients. “By attracting international capital to OBUs in Taiwan, it helps Taiwan gradually become a regional financial center. “

This is the official line. The reality is that OBUs are also used by the country’s citizens to dodge taxes, said a Taiwanese credit analyst and finance expert who asked not to be identified.

“They are disguised as foreign investors,” he noted. “They have shell companies in tax havens. They send money out of Taiwan and then back to Taiwan. They can make trade finance or invest in stocks. We understand that Taiwanese banks primarily serve this type of customer. “

In addition, offshore securities units, benefiting from generous tax breaks, were introduced in 2013. Offshore insurance units were added in 2015, as part of the goal of making Taiwan a hub of asset Management.

The government bristles at any suggestion that Taiwan’s flourishing offshore industry could be a boon to tax evaders or money launderers.

Official sensibility is not just the result of CRS ‘global march forward. Last August, the New York City Department of Financial Services fined Mega International Commercial Bank $ 180 million for violating anti-money laundering laws. The ruling said Mega Bank’s compliance program was “a hollow shell”.

Since then, the FSC has said it has tightened its anti-money laundering rules and oversight, including those that apply to Taiwan’s offshore industry.

Still waiting

Last December, Taiwan signed an agreement with the United States to implement Fatca. CRS is obviously a much more difficult call. The studies were numerous and the Ministry of Finance pointed out that a bill aimed at facilitating the automatic exchange of information had been received “positively” by the Taiwanese lawmakers on March 29.

Yet the dice have still not been cast and Taiwanese banks continue to tout the benefits of secrecy. Banque SinoPac, for example, assures us on its website that “OBU account information is strictly confidential”.

One of the possible reasons could be the delicate relations with China. An agreement on the exchange of tax information was signed in 2015 but has not been implemented. It is also limited to “on demand” exchanges and does not happen automatically.

“The Taiwanese government and industry want to sell offshore financial services to the mainland, where there is a common language, but their success is another matter,” the anonymous credit analyst noted.

“Mainland individuals are not very familiar with Taiwanese financial institutions. They hold AIA, HSBC or Prudential in high regard, but for Taiwanese banks and insurance companies, they won’t have as much familiarity and confidence.

The full version of this article appeared in the April / May issue of AsianInvestor magazine. Don’t miss the second of this two-part article, which will focus on developments related to tax transparency in Indonesia and Malaysia.


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Turning Forbes Magazine Content Into Web Content – And Vice Versa https://greenmagazineonline.com/turning-forbes-magazine-content-into-web-content-and-vice-versa/ https://greenmagazineonline.com/turning-forbes-magazine-content-into-web-content-and-vice-versa/#respond Wed, 23 Feb 2011 08:00:00 +0000 https://greenmagazineonline.com/turning-forbes-magazine-content-into-web-content-and-vice-versa/ Turning Intimate Words From Magazines Into Digital News (Photographed For Forbes By Evan Kafka) What is the role of a magazine article in a digital world? Can it be effectively retooled for information consumers on the web? Can content originally created for the web be transformed for magazine readers? Forbes is making great strides in […]]]>

What is the role of a magazine article in a digital world? Can it be effectively retooled for information consumers on the web? Can content originally created for the web be transformed for magazine readers?

Forbes is making great strides in answering these questions, as evidenced by the print and digital execution of our current cover story, The Extraordinary Life of Clayton Christensen. The Harvard Business School professor, who has gained worldwide fame for teaching CEOs what disruptive technologies mean to their businesses, recently completed an investigation into the maze known as the healthcare industry. For Christensen, this work quickly became personal – he beat a heart attack, cancer, and stroke, all in three years.

According to Forbes, there are two groups of consumers of business information – print and digital – and each wants something different. The imperative is to use the same underlying information to serve both. To do this, we are developing new working and economic models. It also means letting content creators know their jobs are changing and then providing the right tools to perform the tasks associated with those new jobs.

For Christensen’s article, Forbes staff reporter David Whelan, on three trips from his home in Philadelphia to Harvard, served as a print reporter, video reporter, and web producer. The concept of the printed piece was an oral history of Christensen’s rather miraculous life course. David has spent hours interviewing and filming Christensen, family members, doctors and colleagues. In print, he has woven a compelling “as said” history of the intersection of academic thought, medical exploration (both personal and professional) and religion.

It was loosely structured around four different illnesses – diabetes, heart disease, cancer, and stroke – with participants in the Christensen drama flying in and out as the story unfolds. It was consumable on many levels – by disease, by participants in Christensen’s life, by his prescriptions to cure the healthcare industry. Primarily, it was the perfect storytelling device for privacy that magazine readers appreciate.

Then David transformed into a web producer to serve the needs of a different audience – an audience that demands as much information as you can give them.

He divided his story into nine articles (according to the lines of his magazine article), contextually inserting the video he took and a photo gallery into each. Here’s Part 1: Healthy Living. More importantly, each of Christensen’s illnesses has become its own post, with links to the drugs, hospitals, and doctors mentioned throughout. In doing so, David was able to create relevant content for the information-obsessed disease groups on the web. Each post is linked to the next, so users can go directly to their area of ​​interest. David, like all of our full-time editors, journalists and contributors, builds his own brand and community around his subject-specific knowledge. It takes both expertise and passion. So, in one of the articles, David reflects on what the story and the experience meant to him.

It’s turning magazine content into digital content. Right now, I hear digital pillars say, “Well, what’s new? I would tell them, please check out what’s going on in the world of traditional publishers. Most still unload their printed stories into continuous web pages that look ten years old (yes, Forbes is doing a bit of it too, but we’re changing. These old-fashioned pages are being removed as we continue to re-architect our site. to put David Whelan’s authoritative type of journalism at the center of a social media experiment.)

Okay, what about turning digital content into magazine content?

We’ve been working on this for months and our efforts are evolving here as well. In fact, the 24-page content of the last two issues of Forbes somehow began on Forbes.com.

We started it all with “The Conversation”. Instead of letters to the editor, a convention that no longer seems appropriate, we have started to contextually integrate user comments on our stories – from Forbes.com, Twitter, Facebook and regular mail as well – in the different sections. of our magazine. This, in turn, led us to a special digital project called Names You Need to Know, which allowed us to crowdsource portions of our magazine cover from December 20, 2010. Fifteen pages of this issue of the magazine were devoted to a conversation between our employees, contributors and members of the public about the most important – and perhaps least known – people you really should know in 2011.

The notion of printed dialogue has taken another direction. In the February 28 issue, an online conversation between Michael Noer, one of the editors, and Jon Bruner, one of our reporters, was transformed into a fun and informative five-page magazine on the use by Jon of all kinds of tech gadgets on a weekend. trip to Romania. Online commentators have also become part of the print “story”.

In the current issue, a conversation has turned serious. Forbes health reporters Bob Langreth, David Whelan and Matt Herper asked a question on their Forbes.com pages: Will healthcare costs go bankrupt in America? Other Forbes staff and contributors, including Avik Roy, entered the debate, as did audience members. This informative and engaging digital exchange – full of information and perspectives – has been transformed into a magazine discussion (we continue to explore new presentation formats). It comes right after the cover pack from Clayton Christensen.

Where does it all go from here? Simple. We continue to experiment. Marginal changes, along with adhering to the editor-in-chief’s philosophy, will not work in today’s media industry. Emerging audiences have little use for editorial command and control. The web has changed everything. Social media has changed all of that. Now tablets and apps are changing again. Indeed, Forbes embraces the idea that a great magazine or website is a shared experience, both in its creation and in its consumption.

MORE OF WHAT FORBES DOES

Our content strategy, the power of the brand and the way forward

A new homepage, channels and sections – and activity feeds too

AdVoice – and how marketers can also post content on Forbes

Why Forbes believes in the “content continuum”

My 16th birthday, or what I learned from rebuilding Forbes


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