Archive for the 'Economy' Category
Oil Prices Surge 7% After OPEC Output Cut
November 30th, 2016Update: OPEC Agrees to Cut Production in Drive to End Record Glut — Via: Reuters: Oil prices jumped as much as 8 percent on Wednesday to a five-week high as some of the world’s largest oil producers gathered in Vienna to try to agree to a production cut that could be bigger than expected. An […]
Trump’s Pick for Treasury Secretary: Former CIO at Goldman Sachs, Helped Start George Soros Investment Fund
November 30th, 2016L.A. Times background from a couple of weeks ago: Mnuchin, chief executive of New York-based hedge fund Dune Capital Management, spent 17 years early in his career at Goldman Sachs, where he was a partner and eventually chief information officer, before leaving in 2002. He then started an investment fund with billionaire investor George Soros, […]
DAIMLER TO INVEST $11 BILLION IN ELECTRIC VEHICLES
November 27th, 2016Via: Reuters: Luxury carmaker Daimler is planning to invest up to 10 billion euros ($11 billion) in developing electric vehicles, its research and development head told a German daily. German firms are investing heavily in electric cars, once shunned for their high cost and limited operating range but now benefiting from recent advances in battery […]
U.S. Navy’s $4.4 Billion Stealth Destroyer Towed to Port After Breaking Down in Panama Canal
November 23rd, 2016Via: AP: The most expensive destroyer ever built for the US navy has suffered an engineering problem in the Panama Canal and had to be towed to port. … USNI News, a publication of the US Naval Institute, reported on its website that the ship was in the canal when it lost propulsion. Crew also […]
U.S. Citizens Now Hold About $1.3 Trillion in Student Loan Debt
November 21st, 2016Via: Finance Geography: The New York Fed’s second quarter numbers are out for 2016 and it doesn’t paint a pretty picture for student loan debt. Officially, the nation owes $1.26 trillion in student loan debt. Realistically, we are probably over the $1.3 trillion mark when taking into account the fact that the Fall semester has […]
Apple Asks iPhone Manufacturers to Investigate Making iPhones in U.S.
November 19th, 2016Via: Nikkei: iPhones might one day soon carry “Made in America” labels. Key Apple assembler Hon Hai Precision Industry, also known as Foxconn Technology Group, has been studying the possibility of moving iPhone production to the U.S., sources told the Nikkei Asian Review. “Apple asked both Foxconn and Pegatron, the two iPhone assemblers, in June […]
Citibank To Stop Accepting Cash At Some Branches
November 17th, 2016Via: ZeroHedge: Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia. Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.” (How convenient […]
Cities Nationwide Enacting More Policies to Criminalize Homelessness
November 16th, 2016After eight years of Hope and Change… Via: CBS: A new report says cities nationwide are enacting more policies that criminalize homelessness. The National Law Center on Homelessness and Poverty said Tuesday many cities have banned living in vehicles, camping in public areas and panhandling.
After Trump Win, Trans-Pacific Partnership Is Dead
November 13th, 2016Via: Guardian: White House officials conceded on Friday that the president’s hard-fought-for Trans-Pacific Partnership (TPP) trade deal would not pass Congress, as lawmakers there prepared for the anti-global trade policies of President-elect Donald Trump. Earlier this week, congressional leaders in both parties said they would not bring the trade deal forward during a lame-duck session […]
Anger Grows in India as Banks Struggle to Swap Banned Notes
November 12th, 2016Via: Reuters: Anger intensified in India on Saturday as banks struggled to dispense cash following the government’s decision to withdraw large denomination notes in an attempt to uncover billions of dollars in undeclared wealth. Tempers frayed as hundreds of thousands of people queued for hours outside banks for a third day to swap 500 and […]
