Oil prices fell sharply this week on concerns about global oversupply, but now might be the time to buy the commodity, according to one strategist. WTI and Brent crude have both fallen around 4 percent so far this week, leaving it in a technical bear market as prices are down more than 20 percent so […]
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North Korea tests rocket engine, possibly for intercontinental ballistic missile, say US officials
North Korea has carried out another test of a rocket engine that the United States believes could be part of its program to develop an intercontinental ballistic missile, a U.S. official told Reuters on Thursday. The United States assessed that the test, the latest in a series of engine and missile tests this year, could […]
Read moreTheresa May offered fellow EU leaders a “fair” deal on Thursday for compatriots living in Britain after Brexit, though her peers sounded skeptical and demanded more detail from a prime minister weakened by an electoral misfire two weeks ago. Given the floor for 10 minutes at the end of a Brussels summit dinner, her first […]
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Sterling weakness strengthens case for UK rate rise, says BOE policymaker
Bank of England policymaker Kristin Forbes said on Thursday she feared the pound‘s weakness would have a lasting upward effect on inflation, and that she was concerned central banks were becoming more reluctant to raise rates than in the past. Forbes – whose three-year term on the BoE’s Monetary Policy Committee ends next week – […]
Read moreFalling mortgage rates and rising home values are a tasty combination for homeowners looking to save some cash on their monthly mortgage payments. Millions, however, are not biting, either out of ignorance or because refinancing is a hassle. Close to 4.5 million borrowers are eligible and have a financial incentive to refinance, according to a […]
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INVESTORS could easily get confused about the impact of oil-price rises on the economy and markets. The story seemed to be clear: high prices bad, low prices good. The two great oil shocks in the 1970s were unambiguously bad for Western economies—ushering in stagflation and transferring spending power to the oil-producing countries. In turn, low […]
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WHEN John Chambers ran Cisco, the world’s biggest maker of networking gear, his hyperactivity nearly matched that of the high-speed switches and routers that made the firm’s fortune. He pushed Cisco into dozens of new businesses, from set-top boxes to virtual health care. He travelled the world preaching the virtues of connectivity. In interviews it […]
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ONE hundred years ago, Argentina was not the country it is today. Thanks to a belle époque of lavish foreign investment, rapid inward migration and bountiful agricultural exports, its GDP per person in 1917 was comparable to that of Germany and France. Although the first world war brutally interrupted international trade and investment, the country […]
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JEFF BEZOS does not like sitting still. In his annual letter to Amazon’s shareholders this year, he warned of “stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death.” Competitors are toiling to avoid the same fate but it is hard to keep up. On June 16th Amazon said it would pay $13.7bn […]
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THE headquarters of General Motors (GM) tower over the other skyscrapers in Detroit’s city centre, a reminder that the carmaker still rules the American market. Yet GM’s domestic might increasingly contrasts with its position elsewhere in the world. Although most other carmakers see becoming ever bigger everywhere as the answer to the industry’s multiple challenges, […]
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