Jerome Powell will become the new head of the Federal Reserve System (FRS) of the US. President of the United States Donald Trump promised to surprise everyone with his choice, but apparently he decided not to risk on such an important issue. The US President announced his decision in the Rose...

The comments come in the wake of the central bank having to manage the consequences of Brexit, including stoking inflation, whose widespread ramifications weren't mapped out during the historic referendum. On Friday, Ben Broadbent, the deputy governor of the Bank of England said the central bank...

Recently, bitcoin has updated a new historical maximum, but many experts still consider the crypto market a bubble. Speculation around bitcoin is "a clear indication of the bubble," said Chief Executive Officer of the Swiss bank Credit Suisse Tidjane Thiam. The rate of bitcoin on Thursday...

Slow negotiations on the renewal of the North American Free Trade Agreement (NAFTA) creates uncertainty among enterprises and can damage investment and growth, said Alf Barrios, Rio Tinto’s Aluminum Executive Director, on Wednesday. Canada and Mexico say that several US proposals for the...

The appreciation of the cryptocurrency can largely be attributed to speculations that it is set to enter the financial mainstream. On Wednesday the price of bitcoins touched its historic zenith of $6,450 on the back of bets that the cryptocurrency is set to enter the financial mainstream following...

Another week, and another IMF’s warning about scenarios of financial collapse. Last week, the IMF published a report on financial stability. In fact, the paper openly declaring that the financial system is on the verge of collapse. The IMF uses the DSGE model to forecast the current global...

Interestingly, the U.S. petitioner’s filing of Chapter 11 bankruptcy under the rarely used section 201, is being opposed by the U.S. industry’s primary trade organization – the Solar Energy Industries Association. On Tuesday, Federal trade officials are set to recommend measures to safeguard...

Last week, Swedish bank Nordea Bank AB announced reduction of 10% of its staff, that is, 6 thousand employees. According to the bank’s head Casper von Koskull, the announced reduction is only the first signs before more large-scale layoffs throughout the banking industry against the background of...

Iraq is getting ready to increase oil production by 50%. This was stated by the Director-General of Basra Oil Company Abdul Jabbar. The company is responsible for mining in the southern part of the country. Jabbar noted that Iraq can now increase production to 5 million barrels per day, and up to 6...