Phillips currency

New York | The arrest of Glen Point Capital co-founder Neil Phillips for alleged foreign-exchange market manipulation threatened to ripple across the hedge fund industry as another firm suspended staffers who previously worked with him. Phillips, 52, was arrested in Spain on a request from the US earlier this week, federal prosecutors in New York said on Thursday (Friday AEST) in a statement. Bloomberg News subsequently reported that Kirkoswald Asset Management put on leave several employees who used to work at London-based Glen Point. US regulators have been cracking down on market manipulation since the financial crisis more than a decade ago. AP A person familiar with the matter said Kirkoswald was awaiting more information and stressed that the firm had no reason to believe the employees were involved in the alleged market manipulation. But similar caution may emerge elsewhere on Wall Street and within the Square Mile, where Phillips was associated with some of the biggest names in the hedge fund universe. Phillips was charged with conspiring to manipulate the US dollar-South African rand exchange rate in late 2017. William J. Stellmach, a lawyer for Phillips, did not immediately respond to a phone call and an email seeking comment on the charges. The alleged market manipulation came roughly two years after Phillips started Glen Point with his former BlueBay Asset Management colleague Jonathan Fayman. The pair raised nearly $US2 billion ($2.9 billion) from investors in...

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Jared Ecker is a researcher and fact-checker. He possesses over a decade of experience in the Nuclear and National Defense sectors resolving issues on platforms as varied as stealth bombers to UAVs. He holds an A.A.S. in Aviation Maintenance Technology, a B.A. in History, and a M.S. in Environmental Policy & Management. In mid-2022, many were saying that the United States had not entered a period of stagflation, but might soon experience one, at least for a short period. In June 2022, Forbes magazine argued that a period of stagflation was likely because economic policymakers would tackle unemployment first, leaving inflation to be dealt with later. • Stagflation is the simultaneous appearance in an economy of slow growth, high unemployment, and rising prices. • Once thought by economists to be impossible, stagflation has occurred repeatedly in the developed world since the 1970s. • Policy solutions for slow growth tend to worsen inflation, and vice versa. That makes stagflation hard to fight. The oil crisis of the 1970s is the prime example. In October 1973, the Organization of Petroleum Exporting Countries (OPEC) issued an embargo against Western countries. This caused the global price of oil to rise dramatically, therefore increasing the costs of goods and contributing to a rise in unemployment. Some point to former President Richard Nixon's policies, which may have led to the recession of 1970—a possible precursor to other periods of stagflation. Nixon put tariffs on...

Biography There is no other contemporary artist as maverick to the art market as Damien Hirst. Foremost among theYoung British Artists (YBAs), a group of provocative artists who graduated from Goldsmiths, University of London in the late 1980s, Hirst ascended to stardom by making objects that shocked and appalled, and that possessed conceptual depth in both profound and prankish ways. Regarded as Britain's most notoriousliving artist, Hirst has studded human skulls in diamonds and submerged sharks, sheep and other dead animals in custom vitrines of formaldehyde. In tandem with Cheyenne Westphal, now Chairman of Phillips, Hirst controversially staged an entire exhibition directly for auction with 2008's "Beautiful Inside My Head Forever,"which collectively totalled £111 million ($198 million). Hirst remains genre-defyingand creates everything from sculpture, prints, works on paper and paintings toinstallation and objects. Another of his most celebrated series, the 'Pill Cabinets' present rows of intricate pills, cast individually in metal, plaster and resin, in sterilized glass and steel containers; Phillips New York showed the largest of these pieces ever exhibited in the United States, The Void, 2000, in May 2017. Insights • Hirst's auction record for a single piece is The Golden Calf, which in 2008 sold for£10.3 million. • 331 of Hirst's "Spot" paintings (of neatly colored dots) were exhibited at 11 Gagosian galleries in 8 cities across 3 continents. • His decade-in-the-...

The Phillips curve given by A.W. Phillips shows that there exist an inverse relationship between the rate of unemployment and the rate of increase in nominal wages. A lower rate of unemployment is associated with higher wage rate or inflation, and vice versa. In other words, there is a tradeoff between wage inflation and unemployment. Reason: during boom, demand for labour increases. Due to greater bargaining power of the trade union, wage increases. Thus, decrease in unemployment leads to increase in the wage (Fig. 13.6). But when wage increases, the firms cost of production increases which leads to increase in price. Therefore it is also called wage inflation, that is, decrease in unemployment leads to wage inflation. (Fig. 13.6) This show that there exists inverse relationship between the rate of unemployment and growth rate of money wages. The Phillips Curve shows that wages and prices adjust slowly to changes in AD due to imperfections in the labour market. e.g. Assume: Initially, the economy is in equilibrium with stable prices and unemployment at NRU (U *) (Fig. 13.7) ADVERTISEMENTS: If Money supply increases by 10%, with price level constant, real money supply (M/P) will increase. This will lead to decrease in interest rate and thus increase in AD which in turn will lead to an increase in both wages and prices by 10% so that the economy reaches back to the full employment equilibrium level (U *) i.e. at NRU. Thus, Phillips curve shows that when wage increases by 10...