Oliver Wyman News

geo-economic fragmentation can decrease global GDP by up to USD 5.7 trillion, giving it a bigger blow than the financial crisis of 2008 or the COVID-19 pandemic, a new study showed on Thursday. India and some other emerging economies can bear the biggest burden in the most extreme fragmentation scenario, it cautioned.

carbon dioxide (CO2) removal credits could reach up to $100 billion a year between 2030 and 2035 from $2.7 billion last year if barriers to its growth are addressed, a report by management consultancy Oliver Wyman said on Thursday. Worsening climate change and inadequate efforts to cut emissions have led U.N. scientists to estimate billions of tons of carbon must be removed from the atmosphere annually by using nature or technology to meet global climate goals. Demand for credits has begun to increase from sectors as diverse as technology and finance, chemicals and aviation but it’s not yet large enough to drive the scale of projects that experts say are needed, the report by Oliver Wyman, the City of London Corporation and the UK Carbon Markets Forum said.

BEIJING — Chinese travelers are increasingly opting for cheaper domestic destinations over foreign tourist spots.

The commodity trading industry reaped its second-best year ever in terms of profits, banking over $100 billion and building up a mountain of cash to spend on assets and breaking into new markets.

By Catarina Demony

The company’s primary listing is on the New York Stock Exchange, where it is valued at around $92bn, said the majority of the trading in its shares is done.

By Victoria Waldersee

Advocacy group UK Finance is urging the British government to encourage securities tokenization. The market is small now, but the future stakes are high, it said.

The London Metal Exchange needs to overhaul how it oversees live trading to prevent another market collapse after it was forced cancel $4bn in nickel trades, a report into the fiasco says.

Asset managers to offer fund tokens despite crypto turmoil

BEIJING — China's tourist-heavy province of Hainan is falling further behind lofty growth goals it set in January.

BEIJING — Luxury brands have slashed expectations for their China business this year after the country's latest Covid lockdowns, according to an Oliver Wyman survey shared exclusively with CNBC.

As the labor market reorders, more Americans are making the leap from blue-collar jobs and hourly work to “new collar” roles that often involve tech skills and come with better pay and schedules.

Skill sets gained from working on trading strategies, technology, data science and a personal passion for motorcycle racing made Scott Robinson launch a sports analytics platform. With a bit of blockchain added to the mix, the founder of Apex146 found new ways to proceed in the sports analytics business.

Asset managers are suffering from “bloat” due to booming pandemic markets, and face a year of “reckoning” as economic stimulus is withdrawn, according to an annual industry health check.

Asset managers are suffering from “bloat” due to booming pandemic markets, and face a year of “reckoning” as economic stimulus is withdrawn, according to an annual industry health check.

report estimates that of the nearly $24 trillion in wholesale payments that moved across borders via the correspondent banking network each year, global corporates incur more than $120 billion in total transaction costs; this excludes potential hidden costs in trapped liquidity and delayed settlements.Jason Ekberg, partner, corporate and institutional banking at Oliver Wyman, states: “The case for CBDCs to address pain points in cross-border payments is very compelling.

report estimates that of the nearly $24 trillion in wholesale payments that moved across borders via the correspondent banking network each year, global corporates incur more than $120 billion in total transaction costs; this excludes potential hidden costs in trapped liquidity and delayed settlements.Jason Ekberg, partner, corporate and institutional banking at Oliver Wyman, states: “The case for CBDCs to address pain points in cross-border payments is very compelling.