Commentary
Disinflation is a greater force right now than inflation
Investors, consumers and policymakers may justifiably fear the specter of tariff-fueled inflation later this year and beyond, but it's powerful global disinflationary forces that are weighing most heavily right now.
Five charts on key US electricity and power generation trends
U.S. power producers have lifted output from both fossil fuels and clean energy sources to new highs so far in 2025, on the back of steadily rising energy demand from data centers, businesses and households.
Asia could outstrip Europe as key beneficiary of U.S. capital flight
As global investors consider reducing their exposure to U.S. financial assets, the key question is where money flowing out of the U.S. will go. While Europe may be the obvious destination, relative value metrics may favour emerging Asia.
Foreign exposure to US assets may be lower than feared
It is widely believed that investors around the world have a disproportionately high exposure to U.S. assets, particularly stocks, an imbalance that could roil U.S. markets if corrected. But what if these fears are overblown?
Rio Tinto bets lithium will retain its battery metal crown
It's a tough time to be a lithium producer as the light metal sinks under the weight of excess supply.
BP needs to scrap its Big Oil mentality, and its buybacks
BP has jumped from crisis to crisis in recent years, severely eroding the British firm's stature as one of the world's leading oil companies. Given the increasingly challenging dynamics in today's oil market, BP may finally need to accept that it is no longer a true oil major and can't keep managing cash like one.
Eastern Europe's stealthy surge in solar generation
Eastern Europe is often overlooked in discussions about solar power generation in Europe, where the likes of Germany and Spain dominate the growth in deployed solar electricity production.
India's iron ore imports to trend higher, but it's no China
The rise of India's steel sector is touted as a boost for iron ore miners seeking to find new markets as China's output eases, but the reality is likely to fall short of the hype.
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Reuters
22 minutes ago
- Reuters
China's vice president visits Spain as mutual courtship blossoms
MADRID, June 10 (Reuters) - China's Vice President Han Zheng arrived in Spain on Tuesday for a four-day trip during which he will meet with King Felipe and Prime Minister Pedro Sanchez, a further sign of increasingly close economic and political ties. Han's visit is taking place two months after Sanchez visited Beijing for the third time in as many years. There, he sought to woo China's President Xi Jinping as global trade reels from U.S. President Donald Trump's tariffs policy. The Socialist premier has been vying to position Madrid as an interlocutor between China and the European Union, as well as to attract more Chinese investment in advanced technology such as batteries, electric vehicles and hydrogen. Last year, auto maker Stellantis and Chinese battery maker CATL announced plans to build one of Europe's largest EV battery factories in Spain. However, not all is idyllic in Spain's relations with China. Beijing's anti-dumping inquiry into EU pork launched last year in retaliation for Brussels' tariffs on Chinese EVs hit Spain, a top exporter, hard. Sanchez's last visit to China, however, clinched expanded access for Spanish exports of pork stomach - a product widely consumed in China but not previously authorised. Han will meet with Sanchez on Wednesday morning in Madrid, Sanchez's office said, while King Felipe will receive the Chinese official on Thursday, according to the royal household's agenda. The Spanish monarch is also scheduled to visit China later this year to commemorate the signing of a strategic partnership 20 years ago. After his meetings with Sanchez and Spain's king, Han is set to travel to Seville to meet Andalusia's regional leader, Juan Manuel Moreno, who last year secured over 2.5 billion euros ($2.86 billion) of Chinese investments in the southern Spanish region. According to projections by tourism lobby Turespana, the number of visitors to Spain from China is expected to surge by 36% this summer compared to last year, making Spain the European destination with the biggest growth in tourists from the Asian nation. ($1 = 0.8749 euros)
The Independent
28 minutes ago
- The Independent
NCAA's Baker: Will Congress back $2.8B settlement with antitrust protection?
Now that the NCAA has taken care of its business, its president wants Congress to deliver. NCAA President Charlie Baker, like his predecessor a proponent of federal legislation to lock in some of the seismic changes hitting college sports, told The Associated Press on Tuesday that draft legislation circulating in Washington is what the association has been asking for. Now, it's simply a matter of passing it. ' One of the messages we got from them was, 'Clean up your own house first, and then come talk to us,'' said Baker, a former Massachusetts governor whose political acumen was a key selling point when he was selected for the NCAA job in 2023. The NCAA delivered, Baker said, with new rules that guarantee better post-graduate health care and scholarship protections for athletes, and then with the crown jewel of reforms — the $2.8 billion lawsuit settlement that a federal judge approved last week. The most fundamental change from the settlement is that schools can now directly pay players through revenue-sharing. For that to work, though, Baker and the NCAA have been lobbying for a limited form of antitrust protection that would prevent, for instance, lawsuits challenging the spending cap prescribed by the settlement, which will be $20.5 million in the first year. The Washington Post reported that draft legislation would include room for that sort of protection. Baker suggested that antitrust exemption might also include a carve-out for eligibility rules, which is not part of the settlement but that has landed the NCAA in court as a defendant in various lawsuits challenging a long-held rule that athletes have five years to complete four seasons of eligibility. 'The consequences of this for the next generation of young people, if you play this thing out, are enormous,' Baker said. 'You're moving away from an academic calendar to sort of no calendar for college sports, and that is hugely problematic.' Baker said the other top two priorities for the legislation are: —A preemption of state laws that set different rules for paying players, which amounts to 'competitive advantage stuff" for state legislatures seeking to give their public universities a recruiting edge. 'That's not just an issue for the NCAA on a level-playing-field basis, it's an issue for the conferences,' Baker said. Greg Sankey, the commissioner of the Southeastern Conference, agrees with that, recently saying that it was not good to have a league spanning 12 states operating under 12 different laws guiding player payments and other elements of college sports. —A ban on college athletes being deemed employees. Recently, Tennessee athletic director Danny White suggested collective bargaining for players was 'the only solution.' Whether that would lead to a direct employment model is difficult to know, but Baker said he's not the only one against it. 'This is something every student leadership group I've ever talked to has pretty strong feelings about," he said. 'They want to be students who play sports, they don't want to be employees because a lot of them worry about what the consequences for their time as students will be if they're obliged to be employees first.' ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. AP college football: and
The Sun
29 minutes ago
- The Sun
The best jobs that allow you to retire early and how you could boost your pension pot to £345k
EVERYONE dreams of escaping the daily grind early and retiring - but what jobs will help you do that as quickly as possible? Here, we reveal the top roles to get the best paid pension and the employers offering more to make you richer in retirement. It might be tempting to choose a job based on salary alone, but it's important not to overlook how it will affect you when you retire. While private sector jobs tend to offer more flexibility and a higher salary, public sector jobs typically offer more generous "defined benefit" or "final salary" pension schemes. These schemes guarantee an income that rises with inflation, making them a "gold-plated" option rarely found in the private sector. In the private sector, you'll likely have a "defined contribution" scheme, where your retirement income depends on contributions and investment performance. Auto-enrolment requires at least 8% of your salary (5% from you, 3% from your employer) to go into a pension fund, and the government adds to this through tax relief. For basic-rate taxpayers, every £80 contributed becomes £100. Although defined contribution schemes may seem less appealing, starting early and maximising contributions can build a substantial retirement fund. According to the Pensions and Lifetime Savings Association, a single person needs £13,400 per year for a basic retirement, while a couple requires £21,600. Craig Rickman, pensions expert at interactive investor (ii), said: "Don't overlook pensions when job hunting. "Even though it might not seem like extra cash in your pocket right now, an attractive workplace pension means you don't have to save as much personally every month to retire comfortably. "That's why it's vital to engage with your workplace pension at the earliest opportunity." Kings Speech 2024 reveals huge pensions shake-up that could add over £11,000 to retirement pots Below we reveal the best jobs in the public and private sector to help you build your pension pot and boost your chances of retiring early. Top jobs for solid pension pots Town planners have some of the most generous pension pots. For example, someone earning £30,000 a year from the age of 30 could retire with an annual pension of £41,400 through the Local Government Pension Scheme (LGPS), according to ii. The LGPS works by adding a small portion of your salary - 1/49th - into your pension pot each year. This amount grows over time in line with inflation, helping it keep its value. Boost your pot by £354,000 RETIREMENT expert Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, shares how to maximise your pension savings. She said: "Small changes can make big differences to your pension." "And increasing your contributions beyond auto-enrolment minimums can make a huge impact over time. "The amount you contribute now will directly impact how much money you have when you decide to retire, typically around age 68. "For example, if someone starts saving at age 21 and continues until age 68, with a starting salary of £25,000 per year and an investment growth of 5% per year after fees, they could save around £236,000 by retirement. "This assumes they contribute 5% of their salary, and their employer adds an additional 3%." "If you increase your contribution to 10%, with your boss still adding 3%, you could boost your savings to roughly £384,000. "But what if your boss is feeling generous? "A more substantial contribution from your employer can significantly boost your retirement savings. "For example, If you save 5% of your salary and your boss matches that with another 5%, your pension could reach approximately £295,000 by the time you retire. "Even better, if both you and your boss contribute a hefty 10% of your salary each, you could be looking at a substantial pension pot of around £590,000. "It really pays to find out what your employer's policy is on pension contributions – it could make a massive difference to your future." Meanwhile, armed forces personnel don't have to pay into their pensions at all, as the Ministry of Defence contributes on their behalf, adding 1/47th of their salary each year and adjusting it for inflation. The standard pension age is 60, but those who serve for at least 20 years and leave after age 40 can benefit from the Early Departure Payment (EDP) scheme, which provides a tax-free lump sum and monthly income. For example, a sergeant retiring as a major could receive a pension of around £32,000 a year. Plus, teachers can build a pension of roughly £25,700 a year after 40 years of service on a £60,000 salary, plus a £170,000 if they tax a one-off tax-free lump sum, according to ii. Tax inspectors in the Civil Service Alpha scheme could receive £23,600 a year on a £36,100 salary. The Civil Service Alpha pension scheme is a 'career average' defined benefit scheme where you build up an annual pension based on 2.32% of your pensionable earnings each year, adjusted for inflation Police officers can retire after 30 years with about £22,000 annually. Firefighters retiring at 60 might get £20,000 to £29,000 a year, depending on service length. NHS workers build pensions based on 1/54th of their salary each year, offering strong retirement income. Museum curators in public roles could get £15,000 a year after 30 years, earning £30,000 annually. I tracked down lost pension and boosted my pot by £5,000 KATHERINE Brant was one of millions who lost track of an old pension pot – a common problem in the UK, where 4.8 million pots are "missing, Each time you start a new job you start a new pension, which can leave you with several pots of cash that are easily forgotten about. On average, employees lose sight of pots worth £10,000. As an assistant manager at a charity shop in Lincoln, Katherine, 32, realised she had no idea where her old pensions were, fearing that the savings from her previous jobs might be lost forever. Determined to take action, she decided to get on top of her pension planning during the pandemic. "I only had a very basic understanding of how pensions worked, but I knew I must have old pots knocking around somewhere that I'd completely lost," she said. Her search led her to Moneybox, an app designed to help people locate and consolidate their pension pots. Unsure of what to expect, Katherine signed up and provided her details. What followed was life-changing. The app helped her uncover a forgotten £2,000 pension pot, which has since grown to £5,000, significantly boosting her retirement savings. With decades left before retirement, Katherine now has plenty of time to grow her savings even further. "Finding this extra money feels life-changing—I had no idea it was even there," she said. If you're looking to track down a lost pension pot, you can also use the government's Pension Tracing Service by visiting Top jobs in the private sector Some private sector companies offer generous contribution rates to employees. The financial services industry tends to be a good place to start, with average employer contributions around 9.5%. For example, Unilever provides a benefits package equal to 25% of your salary. If you earn £40,000, this means £10,000. You can decide how to use it - put it all into your pension, take some as extra pay, or split it, such as £8,000 for your pension and £2,000 as cash. Shell follows with a total pension contribution of 20% (5% from employees and 15% from the employer), which can rise to 27.5%. Legal & General combines a basic contribution with a matching scheme, allowing employees to potentially reach a total of 20%. Kingfisher, owner of B&Q and Screwfix, offers a sliding scale where employees contributing 8% or more receive 14% from the employer. Phoenix Group boosts salary sacrifice contributions, enabling employees to receive 14.2% while contributing only 2%. A salary sacrifice scheme is where you agree to reduce your gross salary in exchange for a non-cash benefit, like increased pension contributions. This reduces your taxable income and National Insurance contributions, potentially saving you money while boosting your benefits. Royal Mail contributes 13.3% to its Collective Defined Contribution scheme, with employees adding 6%. Tesco matches pension contributions up to 7.5%. INDUSTRY trade body The Pension and Lifetime Savings Association calculates how much a single person and a couple need to afford different levels of comfort in retirement. They factor in all household bills, groceries, travel and car costs, going away on holiday, clothes, beauty treatments and more, into the amount of money you need per year. There are three lifestyle levels - minimum, moderate and comfortable. Here's how much you need per year to afford them all. Basic retirement: A single person needs £13,400 annually for a basic retirement lifestyle, while a couple needs £21,600. This covers essential needs plus a few extras like a small holiday and monthly cheap meal out. Moderate retirement: A single person needs £31,700, while a couple needs £43,900. This covers one holiday abroad a year, eating out once a week, and budget for two or three weekly activities like going to the cinema or swimming. Comfortable retirement: A single person needs £43,900, while a two-person household needs £60,600. This includes a foreign holiday and several mini breaks a year, as well as beauty treatments and hair appointments every six weeks.
