Global Economy

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 […]

admin July 13, 2018

ECONOMISTS think prices, like spilt ketchup, are sticky. They move only slowly as firms digest economic conditions. Financial markets are an exception. Computerised trading by thousands of participants means prices, especially of currencies, can move in a McFlurry. Since The Economist last updated the Big Mac index (BMI), our lighthearted guide to currency valuation, burger […]

admin July 13, 2018

Second-hand clothes donated by Americans have sparked a bitter trade dispute between the United States and one of the world’s poorest countries. The obscure conflict is playing out in the apparel markets of Rwanda, where the government has increased import duties on used clothing from the United States from $0.25 to $2.50 per kilogram. The […]

admin July 13, 2018

MERGERS of euro-area banks from different countries, a banker jokes, are “very much like teenage sex. There’s a lot of talk, but little action. And when it does happen, there’s a lot of disappointment.” In recent months gossip has linked each of France’s three biggest banks (BNP Paribas, Crédit Agricole and Société Générale), as well […]

admin July 13, 2018

The emerging trade war between the United States and China poses a problem for America’s flourishing oil patch. US oil exports have more than quadrupled since Congress repealed a 40-year ban in late 2015. The stunning growth has helped lift US oil output to record highs and inspired the development of huge export facilities. That […]