FT News Briefing The European Central Bank focuses on climate change
Jul 13, 2021
David Cameron's lucrative contract with Greensill Capital raises eyebrows amid discussions of lobbying ethics. Meanwhile, U.S. banks brace for earnings reports that may reveal the true impact of the pandemic on lending. The European Central Bank is prioritizing climate change in its monetary policy, reflecting a global trend among financial institutions. Additionally, rising coffee prices attributed to Brazilian droughts could soon pinch consumers at their favorite cafés. Stay tuned for insights and proactive measures needed in today's economic climate.
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Cameron's Greensill Earnings
- David Cameron earned over $1 million at Greensill Capital after leaving office as UK Prime Minister.
- He worked part-time, lobbying for government funds before the company's collapse.
US Bank Earnings Driven by Investment Banking
- US bank earnings are expected to jump significantly, driven by investment banking rather than traditional lending.
- The stimulus programs and SPAC boom fueled company acquisitions, boosting bank profits.
ECB Prioritizes Climate Change
- The ECB, under Christine Lagarde, is prioritizing climate change in its policy decisions.
- Climate change's impact on prices, economic activity, and financial risk necessitates this shift.