Global Economy

admin July 18, 2018

The CEO of the world’s largest money management firm said Wall Street is getting increasingly nervous about a trade war. Larry Fink, the head of BlackRock (BLK), said during a conference call with analysts Monday that “some of the strongest foundational components of international investing are being tested as trade frictions escalate to new levels.” […]

admin July 18, 2018

The European Union and Japan signed a huge free trade deal on Tuesday that cuts or eliminates tariffs on nearly all goods. The agreement covers 600 million people and almost a third of the global economy. It’s also a major endorsement of a global trading system that is under increasing threat from protectionism. It will […]

admin July 18, 2018

Don’t mess with Texas. It’s a global oil superpower. The shale oil boom has brought a gold rush mentality to the Lone Star State, which is home to not one but two massive oilfields. Plunging drilling costs have sparked an explosion of production out of the Permian Basin of West Texas. In fact, Texas is […]

admin July 17, 2018

The captains of Corporate America are steering a record amount of cash into stock buybacks. Companies have announced them this year at a rate of more than $5 billion a day. The buyback boom has been viewed by investors as a sign of confidence among CEOs. Yet with their own money, executives are quietly taking […]

admin July 17, 2018

There’s a nice little real estate boom underway in Europe. Europe took 11 of the top 20 spots on a ranking of cities with the largest price increases in the first quarter, according to global property agency Knight Frank. Prices spiked more than 14% over the previous year in Berlin, Rotterdam and Budapest. EU data […]

admin July 16, 2018

China’s huge economy is cooling just as trade tensions with the United States are heating up. The world’s second-biggest economy grew by 6.7% in the second quarter of the year. That was slightly lower than the previous quarter and is China’s slowest rate of quarterly growth in almost two years. The official figures released Monday […]

admin July 15, 2018

If you feel like stuff has been getting more expensive lately, you’re right. The Consumer Price Index, which tracks most items on the average city-dwelling American’s shopping list, rose 2.9% last month — its fastest pace since 2012. When prices speed up, paychecks don’t go as far. Average hourly earnings only increased 2.7% over the […]

admin July 14, 2018

A rising dollar. Escalating trade tensions. And way too low unemployment. These are just a handful of factors in the Federal Reserve’s semi-annual report to Congress on the US economy that could reshape the central bank’s calculus in the coming years. Any surprising twist could snag the Fed’s plans to continue to gradually raise rates […]

admin July 13, 2018

Trade tensions with the United States are hurting economic growth in Europe. The European Union has cut its forecast for economic expansion in 2018 to 2.1%, down from a prediction of 2.3% in May. Pierre Moscovici, the bloc’s economy commissioner, said the downward revision “reflects the impact on confidence of trade tensions and policy uncertainty.” […]

admin July 13, 2018

Wells Fargo’s earnings keep getting dinged by a laundry list of scandals. Profit, loans, deposits and revenue all shrank last quarter, Wells Fargo (WFC) said on Friday. One thing that is going up is expenses. Wells Fargo said operating losses surged 77% last quarter because of various problems in its auto lending, wealth management, mortgage […]