Federal Reserve hopes years of zero rates will spur inflation – but there are risks
Sep 20, 2020 06:01 am UTC| Economy Central Banks
In a healthy economy, prices tend to go up a process called inflation. While you might not like that as a consumer, moderate price growth is a sign of a growing economy. And, historically at least, wages tend to go up...
50 years ago Milton Friedman told us greed was good. He was half right
Sep 20, 2020 05:57 am UTC| Economy
The point is, ladies and gentleman, that greed for lack of a better word is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its...
CaixaBank's acquisition of Bankia to create Spain's largest bank
Sep 19, 2020 09:32 am UTC| Economy
CaixaBank will acquire state-owned Bankia in an all-share deal that would create Spains largest bank with total assets exceeding $786.6 billion. The deal will help the companies tackle dwindling profitability due to the...
Dubai’s DP World to work with Israel’s DoverTower in bid for Haifa Port
Sep 18, 2020 07:32 am UTC| Economy
Dubai state-owned DP World is teaming up with Israels DoverTower in a joint venture that will bid in the privatization and to conduct a study on opening a direct shipping line between the two Middle East states. Haifa...
60% of pandemic-induced business closures in US become permanent
Sep 17, 2020 03:36 am UTC| Economy
Yelp data revealed that 97,966 of the 163,735 business closures across the US due to the pandemic as of Aug, 31 wont be reopening. Permanent business closures rose 34 percent since Yelps last report in mid-July. Yelp...
S. Korea, Germany to boost energy ties towards economic recovery, climate goals
Sep 16, 2020 10:04 am UTC| Economy
South Korea and Germany vowed via a virtual meeting to bolster cooperation in the energy sector towards the recovery of their virus-hit economies and helping each other achieve their climate goals. According to the...
S. Korea's corporate sales suffer record 10.1% drop in Q2
Sep 15, 2020 09:08 am UTC| Economy
South Korean companies suffered a 10.1 percent dip in sales in the second quarter, its sharpest on record, and plunging from a 1.9 percent on-year drop in the first quarter. It was also the sixth consecutive quarterly...
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