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UBS raises S&P 500 forecast for the end of this year to 5900 points 07/22/2024

SEC approves spot ETFs on Ethereum 07/24/2024

Bosch to pay $8B for Johnson Controls divisions 07/24/2024

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Economics

ECB follows the Fed's lead in the curtailment of the QE program

The European Central Bank (ECB) seeks to maintain the open time of the asset buy-back program, and not to set a potential date for its termination. These actions are meant to maintain flexibility, if forecasts fail, Reuters writes. Not mentioning specifically when the net bond purchases fall to...

Wetherspoons Founder Says To Gain US-Style Immigration System, UK Should Accept WTO Tariffs

In order to regain control of its borders and establish a new points-based immigration system akin to the U.S., Britain should be willing to accept "a few tariffs" under the World Trade Organization (WTO) rules, said the chairman of British pub chain J. D. Wetherspoon. Compared to that...

Petróleos de Venezuela to ramp up production

Petróleos de Venezuela (PDVSA) is going to invest $ 50 billion in increasing production to 2.5 million barrels per day by 2025. Hector Andrade, PDVSA’s managing director, announced the company's intentions during the 22nd World Petroleum Congress in Istanbul. As the Venezuelan company’s...

Goldman Sachs Stands Out As The ‘Worst-Selling Fund Manager’ Worldwide In 2017

Withdrawals beats outflows at GSAM almost by double the amount at GSAM. As per the data presented by Morningstar, the “Asset Management’s mutual funds” of Goldman Sachs saw its investors pulling an “estimated” amount of “$26.7” till date in the year of 2017, reported the Financial Times. As a...

While Wages Continue To Lag, U.S. Job Growth Accelerates In June

In signs of labor market strength that could keep the Federal Reserve on course for a third interest rate increase this year despite benign inflation, U.S. job growth surged more than expected in June and employers increased hours for workers. Beating economists' expectations for a 179,000...

Ex-IMF Chief Economist Kenneth Rogoff Says China Could Export A Recession To Everyone Else

A former International Monetary Fund (IMF) economist believes that everyone in the world would be hit by a fallout of the soaring debt levels in China which were a source of serious concern. "If there's a country in the world which is really going to affect everyone else and...

2016 was a record for Saudi Aramco

Saudi Arabia's state-owned oil company Saudi Aramco increased production to a record level of 10.5 million barrels per day at the end of 2016. Experts note that in many respects such dynamics are connected with the fact that Saudi Arabia sought to protect its share of the oil market, especially...

EU Chief Negotiator Says UK Cannot Keep All Benefits Of A Single Market And Yet Leave It

The European Commission's chief Brexit negotiator Michel Barnier said on Thursday that the U.K. cannot expect to leave the single market and keep all of its trade benefits. If the U.K. decided to leave the EU's single market, "frictionless trade" between Europe and the U.K. would "not (be)...

From Defense To Science, Agriculture And Technology, India, Israel Expand Cooperation

The way for Israeli firms to access millions of consumers and for Indian companies seeking advanced technologies would be paved by a string of deals signed this week between India and Israel which reflected wider cooperation apart from the long standing cooperation in defense between the two...

Germany is concerned about a possible US-EU trade war

Germany is concerned that US President Donald Trump can launch a trade war with Europe, German Foreign Minister Sigmar Gabriel said on Thursday before the G20 summit in the port city of Hamburg. "There are things that cause great concern with that the United States is starting a trade war with...