The world’s leading exporters should boost domestic demand and inflation to stimulate growth, the US treasury secretary said, rather than look to US markets to absorb their products. He also called for flexible currency rates, especially in China.
The EU has officially filed a complaint against Google for allegedly abusing its dominance in the European market. The case could carry a fine of up to $6 billion, which would be the biggest settlement in EU antitrust history.
Following years of political pressure from financial justice campaigners and concerned account holders, British bank Barclays has ceased funding controversial firms that profit from environmentally devastating mining techniques.
In the eyes of investors, Tesla Motors can do no wrong. A blog post unveiling the company’s “Model W” ‒ a watch ‒ sent stocks surging momentarily… until, perhaps, people actually read the post that referred to an orangutan and Big Ben.
Overseas investors will start bringing their money back to Russia soon, after they realize the country’s economy is “entering a new track,” according to Russia’s Deputy Finance Minister Aleksey Moiseev.
As Russia assumes the chairmanship of the BRICS business council, the launch of the New Development Bank for its members will begin as an alternative to the US-dominated International Monetary Fund (IMF).
Economists in Russia and the US agree the worst is over for Russian economy, with Bloomberg changing its tone praising it as an ‘underrated land of opportunity’. Experts agree President Putin’s economic team managed to turn around a pressing environment.
International ratings agency Fitch has downgraded Greece’s sovereign rating from B to CCC ahead of the agency's next scheduled review, amid worries that the country is defaulting on its sovereign debt.
The risk of political instability in Saudi Arabia always goes along with a spike in the oil price as it has been the largest producer of crude oil in the world, Amir Handjani, lead director at RAK Petroleum, told RT.
The US was forced to change its mind over cooperating with the China-led development bank after its allies refused to join a boycott, which is a sign that dollar hegemony is not lasting, Lew Rockwell, chairman of the Ludwig von Mises Institute told RT.
Once a swamp, Singapore has grown, despite lacking the natural resources of neighbors, to become one of the world’s richest states with a simply staggering economic growth, all thanks to the leadership of one great statesman.