25 June 2019 FT — Articles to Read

Question: According to MSN: Money, what state has the best average credit score?

US billionaires call for tax on wealthiest as inequality tops 2020 election agenda – Pg. 1

  • Eighteen of the richest Americans published an open letter yesterday calling for “moderate” tax on assets of the wealthiest 0.1% in the US
  • Wealth taxes have been more common in Europe, but a Hill-HarrisX poll found in February that 74% of US voters supported such a measure, including 65% of Republicans
  • The richest 0.1% of Americans hold nearly a fifth of the coutnry’s wealth, up from 7% in the late-1970s and equal to the wealth of the bottom 90%, …

Brazil investors cry out for economy reforms – Pg. 3

  • The economy shrank in the first quarter for the first time since 2016, and April and May indicators suggest little improvement.  Brazil is forecast to grow less than 1% this year, ….
  • Data show that fixed investment contracted 1.7% in the first quarter.  As a percentage of GDP, investment had declined from 20% in 2013 to about 15% last year,…

WTO warns of rise in trade barriers ahead of G20 summit – Pg. 4

  • New Trade barriers imposed by G20 nations pose a risk to the global economy….
  • G20 nations implemented 20 trade-restrictive measures between mid-October and mid-May, including higher tariffs, importing bans and new customs procedures for exports.  They affect goods worth $335.9bn, the second-highest figure recorded since the WTO began tracking it in May 2012.  The highest figure so far is $480.9bn, for the organization’s previous reporting period
  • Failure to reach a trade truce could result in additional tariffs

US ban on ‘immoral’ trademarks struck down – Pg. 12

  • Companies have been given the green light to trade “immoral” or “scandalous” words or symbols in the US after the Supreme Court rules in favour of a clothing ban called FUCT and threw out a century-old ban
  • The justices rules that the prohibition violated the constitutional right to free speech, paving the way for trademarks involving lewd language
  • The legal ruling follows a 2017 decision that, using a similar rationale, found in favour of a bans called The Slants.  The US Patent and Trademark Office had turned down the band’s trademark application on the grounds the name would be disparaging towards people of Asian descent.  But the Supreme Court ruled against the ban on trademarks that “disparage” people
  • (Prof Note: I remember when HR reported to me at a company.  I was CFO and one of the accountants came in with the shirt emblazoned on the chest, “SLUT”.  I had the head of HR go to the individual to send them home until they changed their attire.  The person came into my office stating it was a violation of their free speech and was not disallowed in the HR manual.  I looked at the individual and, in a moment of GREAT patience, said, “ok, you are correct.”  The person left my office.  I then edited the HR manual to say, “Offense language worn in the workplace will result in an employee being immediately sent home until the offensive attire is changed.  “Offensive language” is defined and determined solely by the Chief Financial Officer.”  Then I emailed the new HR manual edition to the company stating that all policies were in effect IMMEDIATELY!  The employee was sent home for the day WITHOUT pay!)

Answer: Minnesota (713)