U.S. farmers and food producers are in the cross-hairs of a global trade conflict that shows no signs of abating anytime soon — and trade tensions escalated in a big way on Sunday. New tariffs were imposed by Canada on beef, and more retaliation will come this week when China and Mexico take aim at […]
Read moreCurrency, United States Finance
How a surprise deal to boost oil supply could 'stir the pot' in the Mid East, and test Saudi Arabia
An impromptu agreement between the United States and Saudi Arabia to add more supply to increasingly tight oil markets is perceived as a test of the kingdom’s ability to pump more crude — and could further antagonize Iran and Venezuela, as both countries grapple with deteriorating conditions in their respective economies. Barely a week after […]
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European leaders reach migration deal after marathon overnight meeting
European leaders have hashed out a deal on migration that has satisfied the Italian government’s hardline approach and potentially staved off the potential collapse of Angela Merkel’s coalition in Germany. Several European leaders had told CNBC ahead of the marathon overnight meeting that they were not optimistic about reaching a deal. But in the early […]
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European markets seen higher after EU migration deal; trade fears linger
European stocks are set to open higher Friday morning, although underlying sentiment was soured by anxiety over ongoing global trade frictions. The FTSE 100 is seen 40 points higher at 7,651; the CAC is expected to open up around 39 points at 5,308, while the DAX is poised to start 103 points higher at 12,261, […]
Read moreRonda Fox finally got the news last week, three months into planting season: The federal government approved her application to employ more than a dozen temporary foreign workers for her family-owned landscaping business in Aurora, Colo. She had hoped to have her crew in place by April 1, but had initially lost out in this […]
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HOW to sell cars when most people can’t afford to buy one? That is the conundrum for Volkswagen in Rwanda, where it is opening the country’s first car-assembly plant. A new Polo costs 33 times the average Rwandan income. Most cars on the road are second-hand imports. Rwanda absorbs perhaps 3,000 new cars a year, […]
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ONE of the naughty secrets about America’s trade war with China is that it has the tacit support of much of America’s business establishment. For the past 20 years big firms’ default mode has been Sino-infatuation. Schumpeter attended a dinner in 2016 between the captains of USA Inc and Li Keqiang, China’s premier, and you […]
Read moreTHE rumour mill is grinding again. In early 2017 reports swirled of a possible merger between Generali, Italy’s biggest insurer, and Intesa Sanpaolo, the country’s second-biggest bank. That deal came to nothing. But Intesa is still looking for a partner. Now it is said to be in talks with BlackRock, the world’s biggest asset manager, […]
Read moreCHINESE investors often refer in jest to the central bank as “central mama”. The idea is that it can be counted on to provide tender love—that is, policy easing—when market conditions are rough. But during the past couple of years it has been more of a disciplinarian, taking cash away from reckless investors. Its latest […]
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MOST startups proudly announce their presence on buildings, billboards and any surface offering visibility. Not Coinbase, a crypto-currency startup. Visitors to its headquarters on a high floor of an office tower in San Francisco find themselves before an unmarked door and doorbell. They are asked to confirm by intercom which firm they intend to see. […]
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