Venezuelan inflation predicted to hit 1 million percent this year
Venezuela is arguably going through one of the largest economic disasters in world history, with prices soaring uncontrollably each day. The International Monetary Fund (IMF) said this week that the Latin American nation is “stuck in a profound economic and...
The cost of Donald Trump’s mission to put America first and abandon the liberal world order
On Donald Trump’s first day as president, he declared a change in America’s direction. “For many decades, we’ve enriched foreign industry at the expense of American industry, subsidized the armies of other countries while allowing for the very sad depletion...
Disneyland Resort agrees deal to raise minimum wage for California staff
Walt Disney Co’s Disneyland Resort announced it has agreed to raise the minimum wage of employees at its California theme park to $15 per hour by January 2019. The subsidiary, which runs Disneyland, Disney California Adventure Park and Downtown Disney,...
Chinese overseas acquisitions in 2017 may be larger than thought and they’re set to grow
China’s foreign mergers and acquisitions were widely seen to have slumped in 2017, but some indicators suggest those numbers may be larger than earlier thought and might even continue to grow this year, according to investment bank, Natixis. “[W]hen one...
Amazon ‘terrifies me as a company’, says a valuation professor
Amazon continues to break records. On Thursday, the company reported earnings per share of $5.07 compared with $2.50 as expected by Thomson Reuters. But Aswath Damodaran, a professor of corporate finance and valuation at the Stern School of Business at...
Blackstone’s Gray on why the firm is pouring cash into the warehousing business
Blackstone’s Jonathan Gray said the firm’s recent investments in warehousing should prove valuable as more and more consumers go online to shop. Gray, who became the firm’s president and chief operating officer earlier this year, explained that Blackstone has purchased...
Kudlow says Friday’s GDP number is going to be ‘big’
White House economic advisor Larry Kudlow predicted that the second-quarter GDP release Friday will live up to the mounting hype. “You’re going to get a very good economic growth number tomorrow. Big,” Kudlow, head of the National Economic Council, told...
US core capital goods orders and shipments surge in June
New orders for key U.S.-made capital goods increased more than expected in June and shipments surged, pointing to solid growth in business spending on equipment in the second quarter. The Commerce Department said on Thursday that orders for non-defense capital...
US jobless claims rebound from a more than 48 1/2-year low
The number of Americans filing for unemployment benefits rose from a more than 48 1/2-year low last week, but continued to point to a tightening labor market. Initial claims for state unemployment benefits increased 9,000 to a seasonally adjusted 217,000...
Treasury Secretary Mnuchin says he’s ‘closely monitoring’ the weakening in the Chinese currency
Treasury Secretary Steven Mnuchin told CNBC on Thursday he’s “closely monitoring” the weakening in the Chinese currency. “What I’ve said over the last week [is] we are obviously closely monitoring the Chinese rmb and the weakening in that market,” Mnuchin...
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