After the news that Europe’s largest car producer VW may close two plants, experts are sounding the alarm that the downsizing of manufacturing isn’t just limited to the car industry. The German Institute for Economic Research (DIW) says companies need … Read More
The price of spot gold climbed past $2,500 an ounce to a new record on Wednesday. The precious metal has rallied more than 20% this year on anticipation that interest rates could eventually ease. Since gold offers no yield, traders … Read More
SHANGHAI/BEIJING, Jan 22 (Reuters) – China’s major state-owned banks moved to support the yuan on Monday, tightening liquidity in the offshore foreign exchange market while actively selling U.S. dollars onshore as equities slid, four sources with knowledge of the matter … Read More
Western companies that sell their Russian assets restricted from taking proceeds in dollars and euros Russia has reportedly imposed additional currency controls in an attempt to prop up the falling rouble, restricting western companies that sell their Russian assets from … Read More
Stocks and futures dropped across Asia, Europe, and the United States on Tuesday due to growing anxiety about the Chinese economy and the Communist regime’s refusal to deal honestly with its systemic problems. The trigger for Tuesday’s stock slide was … Read More
BEIJING, June 15 (Reuters) – China’s economy stumbled in May with industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky post-pandemic recovery. The economic rebound seen … Read More
Texas banned BlackRock and nine other finance firms from working with the Lone Star state after declaring they were hostile to fossil fuels. Glenn Hegar, the state comptroller, on Wednesday published a list of the financial companies that will be … Read More
Turkey’s political and economic crisis has sent its currency tumbling to a record low against the U.S. dollar Friday and unsettled investors amid fears that the contagion may spread from the small southern European economy into financial markets around the world. So … Read More