Yet another downside to how little is left of the country’s middle class is being discovered by the Bank of Russia.   Due to growing wealth inequality and the disappearance of the middle-income households that are the most sensitive to interest rates and prices are putting at risk the...

Wall Street Journal, citing data from the US Department of Agriculture. Milk was poured directly on fields, into compost pits, was given livestock or even left in the middle of the road during transportation. Surplus of milk would be sufficient to fill 66 Olympic swimming pools, and it's the...

Amid the woes of investors as pound fell, the economy exhibited a shock absorbing capacity. The deputy governor of the Bank of England, Ben Broadbent, stated in a interview that the fall of pound following Britain’s vote to quite the European Union has “acted as an important shock absorber” on the...

Chinese state-owned Sinochem and ChemChina are in talks to merge. The deal could give rise to a world leader in the field of oil refining, chemicals and fertilizers revenues, learned Reuters. Sinochem Group and ChemChina started discussing a possible merger at instigation of the central government...

For the first time in 25 years, Norway can get a shortfall budget. The authorities decided to withdraw money from the wealth fund. Their plans also include reduction the tax burden for individuals and large corporations. Despite this, the economic growth is expected to drop to 0.4% in 2017 year....

Nobel winners in Economics in 2016 became Oliver Hart and Bengt Holmström "for their contribution to the development of the theory of contracts", announced the Swedish Royal Academy of Sciences. They will receive 8 million Swedish kronor (about $ 931 thousand). Briton Oliver Hart of Harvard...

Bank of Japan has been called to be more vigorous with fiscal and structural policies to reflate a fragile economic recovery by the International Monetary Fund First Deputy Managing Director David Lipton even as he welcomed the Bank of Japan's new policy framework as a boost to its credibility....

A bevy of analysts have been led to redouble their warnings that a backlash over globalization is poised to roil global financial markets—with profound consequences for the real economy and investment strategies by weak global trade, fears that the U.K. is marching towards a hard Brexit,...

Driven by computer-initiated sell orders that left the pound at a fresh 31-year-low and heading for its worst week since January 2009, Sterling lost a tenth of its value in minutes on Friday, in what traders said was a "flash crash".   As anxiety grows that Britain will opt for a "hard" exit...