Global Economy

admin August 2, 2018

IT IS the summer of 1979 and Harry “Rabbit” Angstrom, the everyman-hero of John Updike’s series of novels, is running a car showroom in Brewer, Pennsylvania. There is a pervasive mood of decline. Local textile mills have closed. Gas prices are soaring. No one wants the traded-in, Detroit-made cars clogging the lot. Yet Rabbit is […]

admin August 1, 2018

Medicine is being stockpiled in the United Kingdom in preparation for a messy Brexit. French drugmaker Sanofi confirmed Wednesday that it’s stockpiling treatments as it plans for a scenario where Britain crashes out of the European Union without a Brexit deal. Hugo Fry, the company’s managing director for the United Kingdom, said that Sanofi (GCVRZ) […]

admin August 1, 2018

A series of mini-storms have swept financial markets around the world this year. The Dow experienced two 1,000-point nosedives. Italy’s bond market briefly blew up. China plunged into a bear market. The Argentine peso collapsed. So did the Turkish lira. Even beloved tech stocks have stopped going straight up. Facebook (FB) lost $119 billion in […]

admin August 1, 2018

While last year’s tax overhaul was in part aimed at bringing US money back from overseas, 2017 also saw a big jump in American investment abroad. The biggest new beneficiary: Switzerland. According to annual statistics released Monday by the Bureau of Economic Analysis, the total amount of US money invested abroad grew by $427 billion […]

admin July 31, 2018

1. Blockbuster profits: The trade war has cast a shadow over parts of Corporate America, but it is bringing a bit of good fortune to the steel industry. President Donald Trump’s metal tariffs have sent steel prices surging and sparked blockbuster profits for steel manufacturers. Reliance Steel & Aluminum (RS) hauled in record sales, thanks […]

admin July 31, 2018

Gold is supposed to be a haven, a place for investors to turn during tumultuous times. But in the middle of a trade war, gold has fallen into a correction, down more than 10% from its high for the year. Why has the price fallen lately? Simply put, it’s the strong US dollar. Expectations for […]

admin July 31, 2018

An oil and gas boom is helping Caterpillar. Three months ago, the heavy equipment maker spooked Wall Street with a warning that its earnings had reached a “high-water mark.” The Dow fell nearly 425 points. But the company reported record earnings for the second quarter Monday that easily topped forecasts and it also boosted its […]

admin July 30, 2018

Russia has rapidly sold off the vast majority of its stash of American debt. Between March and May, Russia’s holdings of US Treasury bonds plummeted by $81 billion, representing 84% of its total US debt holdings. The sudden debt dump may have contributed to a short-term spike in Treasury rates that spooked the market. 10-year […]