EU Targets US Goods With Retaliatory Sanctions
The EU has unveiled a wide-ranging list of US imports worth $20 billion which it could target in retaliation for a subsidy battle between rival...
Category Archives: Economy & Money
Gold buying frenzy by global central banks to push bullion prices higher
Gold prices could reach $1,400 per ounce in 2019 due to the US Federal Reserve’s less aggressive stance...
Bank of America makes case for oil prices above $100 per barrel
The odds of an oil price spike this year are much higher than the prevailing consensus in the...
Italian banking major to pay hefty US fine for Iran sanctions-busting
European subsidiaries of Italy’s biggest bank UniCredit have pleaded guilty to US charges of violating sanctions against Iran and other countries. The lender has agreed...
India’s dynamic economy set to grow even more – Goldman Sachs
India’s measures to improve the recovery of bad loans and a recapitalization plan equivalent to 1.1 percent of...
US leads to pump $10bn into Venezuela’s economy once Maduro is out
Having strangled Venezuela's economy with its ever expanding sanctions, the US have now volunteered to negotiate a $10...
Five countries with the world’s biggest gold reserves
For 5,000 years, gold has proven its status as the ultimate store of value. Today’s investors rush to buy the precious metal at the faintest...
US economy adds 196,000 jobs, beating expectations
The U.S. economy added a surprisingly robust 196,000 jobs in March, the Labor Department reported on Friday, rebounding...
Drunk shopping is a $45 billion industry
First, we had drunk dialing, then drunk texting, but now, we have a new alcohol-fueled regret to watch...
China continues boosting gold reserves as part of its anti-dollar push
The People’s Bank of China increased its gold reserves for a third straight month in February, bringing total...
China won’t use yuan exchange rate as a trade-war tool
China’s national currency will never be used to boost competition or as a means of handling the ongoing trade row, its central bank governor has...
World’s largest sovereign wealth fund in Norway to dump oil stocks
Norway’s trillion-dollar sovereign wealth fund, is set to phase out oil and gas companies from its benchmark index...
North Korea becomes largest debtor to Sweden, owing $300+ million
Pyongyang has a weird and now record debt to the Scandinavian nation, which has hit 2.8 billion Swedish...
China’s offshore free trade zone to be launched in Hainan
A national offshore trade pilot area will be established at the Yangpu economic development zone (EDZ) in South China's Hainan province. It is expected to...
World flooded with $100 bills may be sign of international corruption
The number of US one hundred dollar notes has doubled since the financial crisis to more than 12...
Russia may crack down on Visa & Mastercard over dominant market position
Russia’s trade associations have filed a request to the country’s antitrust authority on bringing action against international payment...
Zimbabwe drops US dollar & relaunches own currency to revive economy
The spiraling economic meltdown in Zimbabwe has prompted the Central Bank to introduce a discounted currency. The government is trying to reverse chronic cash shortages...
Denmark Govt Wants Stores To Stop Accepting Cash
The Danish government is considering changing current laws which make it compulsory for the vast majority of stores...
Global sovereign debt to peak at $50,000,000,000,000 this year
Ratings agency S&P Global said governments are continuing to run up huge debt levels and will borrow an...
Venezuela struggles to find buyers for its oil after US sanctions
Following the US sanctions, Venezuela’s oil inventories have swelled to a five-year high as the nation struggles to...
Russia’s reserves fully cover nation’s internal & foreign debt for 1st time ever
Russia’s foreign exchange reserves can now cover all of the debt owed by both the government and domestic businesses, Russian President Vladimir Putin has announced....
Payless Shoes to close all of its remaining 2,100 US stores
Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a...
US investor & top partners of Baring Vostok equity fund detained in Moscow
A Moscow district court has ordered the detention of the founder and senior partner of Baring Vostok private...
Record Number of Americans Fall Behind on Car Payments
Soaring car-loan debt in the US is a disturbing sign for the economy, showing that the middle class is in “serious economic trouble” as people...