Europe

Fintech, blockchain and A.I. are revolutionising the banking industry and have the potential to replace a significant percentage of the human capital, eliminating a chunk of their cost bases. Last month, former Citi CEO, Vikram Pandit, was particularly pessimistic, claiming that 30% of jobs could be lost in the next five years.

As CNBC reports, finance professionals, especially “more experienced” ones, are acutely aware of the risk and are rushing to educate themselves via online learning.

Authored by Simon Black via SovereignMan.com,

500 years ago to the day, on October 31, 1517, a German monk of the Augustinian order named Martin Luther sent a letter to his Archbishop expressing concern about certain practices of Church officials.

In Luther’s era it had become typical for clergymen to sell ‘indulgences’ to anyone who wanted to be pardoned for sins.

Authored by Mac Slavo via SHTFplan.com,

Iceland’s biggest volcano has been rocked by the strongest earthquake since it last erupted in 2014.

With swarms of earthquakes occurring in the French Alps too, Europe is facing what could be one of the largest natural disasters in history.

In “Capex complex: Seeking a revival in global capex”, Goldman Sachs is reversing its bearish stance and getting bullish on global capex prospects.

Global capex has hit a trough. After three years of declines, aggregate capex for Goldman Sachs’ coverage of c.2,500 companies is set to grow by c.4% yoy in 2017 according to our analyst estimates, in line with c.4% real growth in global GDP and an 8% rise in aggregate sales. However, to call this the beginning of a recovery in ‘growth capex’ seems premature.

Authored by Mike Krieger via Liberty Blitzkrieg blog,