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Tag Archives: Regulation

28/1/20: What Doesn’t Work in NYC Probably Won’t Work in Dublin

As Irish politicians talk rent controls, here is some interesting evidence from NYC's recently passed rent control rules (since June 2019): https://reason.com/2020/01/27/totally-predictable-consequences-of-new-yorks-rent-regulations/.Summary:Sales of apartment buildings in NYC fell by 36 percent in 2019, and that the total spend on purchases fell by 40 percent. Not all of this is down to rent controls changes - NYC is grossly over-supplied in the premium segment of the market and...

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US battery storage prospects lifted by policy progress, cost reduction

Battery storage deployment in the US is set for a rapid acceleration from 2020. That is one of the key takeaways from the latest S&P Global Platts Analytics’ US Power Storage Outlook, released to clients on December 18. In addition, while megawatt deployments in 2019 were at 2018 levels, the storage duration of battery storage assets increased in the past years, pointing to new usages. State policies and peaking capacity needs will remain the major drivers of near to medium-term battery...

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Global shipping sails into turbulent times as IMO 2020 nears

When the shipping industry counts down to the New year on December 31, markets are unlikely to be in a celebratory mood as global markets will wake up to a whole new shipping regime come January 1: IMO 2020. The new global regulation, introduced by the International Maritime Organization, will see the bunker fuel sulfur limit reduced to 0.5% from January 1, from 3.5%. With just days to go, opinions in the global markets on the specification of the new marine fuel, as well as the most...

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UK sugar beet farmers grapple with uncertainties

UK sugar beet growers have had to face the challenges of an unresolved Brexit process, the weather, and a ban on neonicotinoid pesticides in the run-up to the official October 1 start of the 2019-20 campaign. To get the farmer’s view on the state of the industry, S&P Global Platts visited Park Farm in Thorney, near Peterborough, in eastern England, to meet National Farmers’ Union Sugar Board chairman Michael Sly, along with NFU Sugar head James Northen and commercial analyst Arthur...

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The Bankers Vig and the Price we Pay: The Economic Cost of Repealing Glass-Steagall

When one bets on a sporting event the facilitator of the bet, referred to as a bookie, charges the winner of the bet the vigorish. The vigorish, commonly known as the vig, is a fixed percentage of the bet that serves as compensation to the bookie for providing numerous betting options (liquidity) and the financial surety of collecting on winning bets. Financial institutions, like bookies, are intermediaries. They link borrowers with lenders and investors and provide financial security...

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Insight from Washington: What to watch for in the US midterm elections

By the time the polls close on November 6, Democrats may have wrested control of the US Congress for the first time since January 2011, an outcome which could have dramatic consequences for the future of Donald Trump’s presidency. November’s US midterm elections could set the path forward for federal policy for years to come and are likely to set the tone for 2020’s presidential election. While US oil and natural gas production is forecast to continue to shatter output records, something...

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Improvements to Credit Collection Requirements Have Had an Positive Impact

Abuse of the credit system by 3rd party collection agencies (and credit reporting agencies) in the USA has been a long term problem. An attempt to partially address some of the abuses was a change in the required reporting practices that impacted collections accounts specifically, known as the National Consumer Assistance Plan (NCAP), which rolled into effect during the second half of 2017. The plan has many components, including: (1) a requirement for more frequent, detailed, and...

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Beijing charges ahead with administrative reforms to eliminate oil tax loopholes

The oil industry is keenly waiting to see the effect of tighter consumption tax regulations that China is implementing on March 1. Beijing has been pushing for administrative reforms to close tax loopholes that have been a panacea for China’s independent refiners and oil blenders. These independent or ‘teapot’ refiners and oil blenders, who tend to be less efficient than their state-owned counterparts, have used the loopholes to avoid paying consumption tax in order to...

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NRC 2.0: Adapting regulation to a changing nuclear industry

A series of sweeping changes at the US Nuclear Regulatory Commission would alter the agency’s mission to adapt to an evolving US nuclear industry, which is in the grips of a struggle for its economic survival. Ten years ago, what some called a nuclear power “renaissance” was anticipated in the US, and the agency expected to be reviewing dozens of applications to license new nuclear units. In fact, 18 such applications were submitted to NRC beginning in September 2007....

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30/11/17: Efficiency of Enforcement vs Volume of Regulation

Yesterday, in our class on Economics, we talked about the distinction between regulation (volume of rules) and efficient enforcement (monitoring, investigatory, enforcement and pre-emptive functions of regulatory authorities). As an example, we referenced the repeated chain of customer-level scandals at the Wells Fargo Bank.Here is the latest scandal, unveiled earlier this week that I mentioned: http://www.zerohedge.com/news/2017-11-28/it-tuesday-time-another-banking-scandal. From our...

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