Global Economy

admin June 18, 2018

Before moving to India, John Achillea managed an Ikea store in St. Louis, Missouri, that got 1.6 million visitors a year. That was nothing. Achillea, who started working for Ikea in 1996, is now racing to open the brand’s first location in India. He expects the debut store in Hyderabad to get 7 million visitors […]

admin June 18, 2018

DIVINING meaning in the Trump administration’s trade announcements is a thankless task. No sooner does a policy seem settled than it is thrown up in the air once more. On May 23rd, days before a scheduled meeting with the European Union and Japan on a joint trade strategy and in the middle of talks to […]

admin June 18, 2018

The European Central Bank has announced plans to wrap up its massive stimulus program at the end of 2018. Since launching the program of quantitative easing in March 2015, the central bank has bought about €2.5 trillion ($2.9 trillion) of bonds and other assets to stimulate the eurozone economy. The central bank said Thursday that […]

admin June 18, 2018

THE baroque era in Turkish architecture lasted deep into the 19th century, leaving behind lavish buildings, such as the Lily Mosque in Istanbul and waterside pavilions that seem to float on the Bosphorus. The baroque period in Turkish monetary policy will last until June 1st, when the central bank will simplify its equally ornate monetary-policy […]

admin June 18, 2018

Americans are spending. A lot. And not just on Amazon. Retail sales rose 0.8% in May, the government reported Thursday — much better than expected. Spending was up 5.9% from a year ago. And the gains were broad: Spending surged at clothing stores, at restaurants and at home-improvement stores such as Home Depot (HD) and […]

admin June 18, 2018

THE single-storey main branch of the Texas Hill Country Bank, in Kerrville, sits at the back of a tired shopping centre, in the shade of a six-storey Wells Fargo building. When Roy Thompson, the chief executive, was hired (from Wells) in 2012, three years after it opened, he ran a radio ad campaign to alert […]

admin June 18, 2018

Garry Hartman hoped tariffs would save the factory he runs in Berwick, Pennsylvania. Now he’s not so sure. Hartman is the president of Cheetah Chassis, a 170-person company that for decades has made container chassis, the steel frames used to transport shipping containers across the country. At its peak in the 1990s, Cheetah had more […]

admin June 17, 2018

“HOW am I going to compete?” asks Sohel Sareshwala. He runs Accu-Swiss, a Californian company making customised components for the manufacture of semiconductors and cars. President Donald Trump’s tariffs on steel and aluminium, both of which he uses as inputs, are eating into his profit margins and delaying his orders. Meanwhile, Mr Sareshwala’s competitors abroad, […]

admin June 17, 2018

India is moving forward with plans to hit back at the United States over trade. The country has proposed hiking tariffs on 30 US products in order to recoup trade penalties worth $241 million, according to a revised World Trade Organization filing. India said the retaliatory barriers are equal in value to US tariffs on […]

admin June 17, 2018

AMERICA’S unemployment statistics attract close attention, even from presidents. Early on June 1st President Donald Trump tweeted that he was looking forward to the latest figure (3.8%), released that morning. China’s unemployment numbers, by contrast, attract mostly ridicule. They have barely budged since 2011 despite the upheavals of the period. Many China-watchers therefore hoped that […]