Global outages boost oil prices
Feb26

Global outages boost oil prices

Oil prices are on track for strong gains this week, and the price increases are not only the result of the crisis in Venezuela. The oil market received a boost from the US Federal Reserve this week, which signaled on Wednesday that it would essentially suspend its plans to hike interest rates this year. Fed chairman Jerome Powell said that economic growth remained “solid” but that the central bank had “the luxury of patience” when...

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UK cabinet backs Brexit draft
Nov15

UK cabinet backs Brexit draft

The UK cabinet of ministers has approved a draft withdrawal agreement between the UK and the EU, Prime Minister Theresa May said on Wednesday. “The collective decision of cabinet was that the government should agree the draft withdrawal agreement and the outline political declaration,” May said after a cabinet meeting. “This is a decisive step which enables us to move on and finalize the deal in the days...

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Tax evasion helps US corporations steal $180bn from the rest of the world every year
Nov12

Tax evasion helps US corporations steal $180bn from the rest of the world every year

A new study by top economists and experts found that tax avoidance and evasion translate into hundreds of billions of dollars in unpaid taxes every year, with the money ending up in the pockets of the world’s wealthiest people. The paper, ‘The Exorbitant Tax Privilege’, was co-written by Thomas Wright and University of California, Berkeley economist Gabriel Zucman, one of the world’s top authorities on tax havens. The research shows...

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US stock market rally all about ‘American exceptionalism’ – Morgan Stanley
Oct10

US stock market rally all about ‘American exceptionalism’ – Morgan Stanley

The historic rise of US equities is about investors’ belief in Uncle Sam, according to an analyst from investment bank Morgan Stanley. “This year has been a story of how well America has done,” analyst Ruchir Sharma told CNBC. He described the recent rise in the US economy as “American exceptionalism.” “We may or may not believe in [American exceptionalism], but the financial markets have never believed in it to such an...

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IMF upgrades outlook on Russia as economy recovers
Oct10

IMF upgrades outlook on Russia as economy recovers

The Russian economy will grow faster than previously expected as the macroeconomic outlook improves, the International Monetary Fund (IMF) forecasts. The IMF expects that Russia’s growth will reach 1.8 percent in 2019, according to the World Economic Outlook report released on Tuesday. This is still lower than the global economic growth of 3.7 percent. A previous report, published in July, projected Russia’s GDP growth at...

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