Global Economy

admin June 22, 2018

Fears of a trade war have handed the Dow its longest losing streak in 15 months. Goldman Sachs thinks these worries will get even worse. Here’s why: President Trump’s use of tariffs as a negotiating tool requires him to show America’s trading partners that he’s deadly serious about his crackdown on trade. Yet that effort […]

admin June 21, 2018

IN his book about the use of language, “The King’s English”, Kingsley Amis describes a tug-of-war. On one side are “berks”, careless and coarse, who would destroy the language by polluting it. On the other side are priggish “wankers”, who would destroy it by sterilisation. Get our daily newsletter Upgrade your inbox and get our […]

admin June 21, 2018

Saudi Arabia wants OPEC to boost oil supply to keep its customers satisfied. And it thinks other producers will agree. Saudi Energy Minister Khalid Al-Falih said Thursday that OPEC members and other countries who agreed in November 2016 to cut output should increase supply by about one million barrels per day to prevent a shortage. […]

admin June 21, 2018

Iran says that OPEC and other major oil producers should stick with an agreement that curbs output. Iranian oil minister Bijan Zanganeh said in an exclusive interview on Wednesday that previously agreed limits on production remain the best way to balance global oil supply, demand and prices. Zanganeh told CNNMoney’s Emerging Markets Editor John Defterios […]

admin June 21, 2018

The United States will be the world’s top oil producer in just a matter of months. That’s the assessment of Pioneer Natural Resources Chairman Scott Sheffield, who told CNNMoney that he expects US production to surpass 11 million barrels a day within the next three to four months. If achieved, that level of output would […]

admin June 21, 2018

India’s government was hoping to raise billions selling the national airline to a private buyer. Now it’s likely to have to spend billions instead to keep it flying after being forced to shelve the sale. The effort to sell state-owned Air India “is over” for the time being, senior aviation official Jayant Sinha said at […]

admin June 20, 2018

Renting in Manhattan is notoriously expensive. But lately it’s becoming just a little bit more affordable … a little. Prices have been on a general decline this year as more apartments become available, and landlords continue to make concessions. Rental prices declined for the first four months of the year, according to market reports by […]

admin June 20, 2018

European Union tariffs on products from the United States will go into effect on Friday. The European Commission announced Wednesday that it had approved initial retaliatory tariffs on US exports worth €2.8 billion ($3.2 billion). The tariffs, which will hit American products including motorcycles and denim, are a response to Trump administration tariffs on steel […]

admin June 20, 2018

With unemployment near historic lows, there seems to be just one missing piece in the economic recovery: Wage growth. Take-home pay picked up in 2015 and 2016, but it has since flattened out at annual growth rates that remain substantially below the 5% that workers enjoyed prior to the Great Recession. There are lots of […]

admin June 20, 2018

A 13-floor “groundscraper” in London has been sold for $1.3 billion. The building in the city’s financial district was bought by a subsidiary of CK Asset Holdings, the property company founded by Hong Kong’s richest man, Li Ka-shing. 5 Broadgate is currently the London headquarters of Swiss bank UBS (UBS) and 5,000 of its workers. […]