Posts belonging to Category Prices



Americans keep waiting for bigger paychecks

The increase in wages remains frustratingly low given the health of the overall job market

Average hourly earnings rose 2.5% over the past 12 months. That’s a slight improvement from the 2.4% increase the government reported for October. Still, it remains below the 3% increase that most economists (not to mention workers) would like to see. People are finding jobs. That’s not the problem. The economy added 228,000 jobs last month and the unemployment rate remained at 4.1% — its lowest level since December 2000.

http://www.cnn.com… Wed., 13  December 2017

Brexit: Divorce deal agreed

May: there will be no hard border in Ireland

Britain and the European Union struck a deal on Friday to move on to talk about trade and a transition period after they agreed the outline of their divorce, easing the pressure on Prime Minister Theresa May. The European Commission said enough progress had been made after the two sides worked through the night to end an impasse over the status of the Irish border that had scuppered an earlier attempt to clinch a deal on Monday.

The Commission gave its verdict in a statement after intense talks, which resulted in British Prime Minister Theresa May taking an early-morning flight to Brussels to announce the deal alongside Commission President Jean-Claude Juncker. Donald Tusk, the chairman of European Union leaders, welcomed the deal but said London still needed to provide more clarity on the new relationship after Brexit, and bemoaned the fact the first round of talks had taken so long.

“We all know that breaking up is hard, but breaking up and building a new relation is much harder,” he said. “So much time has been devoted to the easier task and now … we have de facto less than a year” left for talks before Britain is due to leave in March, 2019.

http://www.reuters.com… Fri., 08  December 2017

UK could pay £50bn Brexit divorce bill

Bowing to EU pressure

The UK has bowed to EU demands on the Brexit divorce bill in a move that could result in the UK paying £50bn to Brussels, in an attempt to get France and Germany to agree to move negotiations to trade.

Non-stop behind-the-scenes negotiations have led to a broad agreement by the UK to a gross financial settlement of £89bn on leaving the bloc, although the British expect the final net bill to be half as much.

http://www.theguardian.com…  Wed., 29  November 2017

Bitcoin’s Daily Trade Volume Surpasses $5B

After the Canceled Fork Announcement Bitcoin Trade Volume Spikes Exponentially

Action across bitcoin markets have been all over the place. For instance, on Tuesday, November 7, the price dipped below the $7K zone and rebounded back above that territory a few hours later. The very next day on November 8, immediately following the announcement that Segwit2x was canceled, bitcoin’s market value spiked to a high of $7,900 per BTC. The peak didn’t last long, and the price per bitcoin has been hovering between $7,100-7,450 over the course of the past 12-hours. The last few days bitcoin has been trading over $3B a day in 24-hour trade volume, but on November 9 the decentralized currency swapped over $5B in BTC trades. Presently, bitcoin’s value is trading at $7,150-7,210 across a variety of global exchanges.

http://www.bitcoin.com…  Tue., 14  November 2017

Saudi Arabia needs oil at $70 to break even

The break-even is a measure of the crude price needed to meet spending plans

Saudi Arabia, OPEC’s biggest oil producer, is also a leader when it comes to slashing the crude price the country needs to balance its budget.

The kingdom will need oil to trade at $70 a barrel next year to break even, the Washington-based International Monetary Fund said Tuesday in its Regional Economic Outlook for the Middle East and Central Asia. That’s down from a break-even of $96.60 a barrel in 2016, the biggest drop of eight crude producers in the Persian Gulf. The break-even is a measure of the crude price needed to meet spending plans and balance the budget.

http://www.arabianbusiness.com…  Thu.,  02  November 2017

Bitcoin Surges

World’s Biggest Exchange Announces Plans for Futures

The allure of bitcoin was too much for CME Group Inc. The world’s largest exchange owner reversed course today and said it plans to introduce bitcoin futures by the end of the year, only a month after dismissing such a plan. The largest cryptocurrency, which has surged more than sixfold this year, climbed to a record high after the announcement.

http://www.bloomberg.com…  Wed.,  01  November 2017

Tesla wants to produce cars in China

Tesla reaffirms effort to build cars in China; mum on deal report

Electric car maker Tesla Inc (TSLA.O) reaffirmed on Sunday it is talking with the Shanghai municipal government to set up a factory in the region and expects to agree on a plan by the end of the year, but declined to comment on a report that a deal has been reached.

http://www.reuters.com…  Mon  23  October 2017

U.S. Oil Production Is Surging

The World’s Top Crude Trader Sees Brent Crashing To $45

The world’s largest oil trader sees the price of the Brent barrel falling almost $14 to $45 in 2018, from its current price of $58.01, according to Ian Taylor, CEO of Vitol Group.

Taylor is predicting a surge in oil production from US drillers—an event that would likely drag oil prices downward in 2018 to $45 per barrel.

Despite the general optimism in the industry regarding oil prices, Taylor sees this optimism as false hope.

http://www.oilprice.com…  Fri  20  October 2017

Airbus backs up Bombardier in a fight against Boeing

Airbus to Buy Majority Stake in Bombardier C Series Jet Program

Airbus SE agreed to acquire a majority stake in Bombardier Inc.’s C Series jetliner program and will start assembling them in the U.S., vaulting a technologically advanced but slow-selling plane onto the front lines of the battle with Boeing Co. over global aircraft sales. Without putting up a dime at closing, Airbus will take just over half of a partnership controlling the C Series. The European planemaker’s marketing muscle boosts the viability of the all-new aircraft after more than $6 billion in development costs forced Bombardier to rely on government assistance.

The deal also thrusts Airbus into the middle of a bitter trade spat between the Canadian manufacturer and Boeing. Following a Boeing complaint that Bombardier sold 75 of its C Series jets to Delta Air Lines Inc. for “absurdly low prices,” President Donald Trump’s administration slapped the aircraft with import duties of 300 percent in recent weeks — roiling U.S. relations with Canada and the U.K., where Bombardier makes the plane’s wings.

http://www.bloomberg.com…  Tue.,  17  October 2017

Insurance and Hurricanes

Irma test Florida’s flood insurance 

Hurricane Irma could test a nascent private flood insurance market in Florida that some advocates say is a model for making U.S. flood coverage more affordable and commonplace in high-risk areas. Florida’s private flood insurance market represents a tiny sliver of all flood policies in the state, but if a hurricane does hit Florida later this week, policyholders, industry and the federal government will see how private insurance performs in one of the country’s largest flood-prone markets.

“It’s a new breed of insurance in Florida,” said Loretta Worters, a spokeswoman for the Insurance Information Institute, an industry-funded communications group. “You have these companies that have never been tested for flood. We’ll have to see how it works.” Even before Hurricane Harvey triggered massive flooding in Texas last week, U.S. lawmakers were looking at alternatives to the indebted government-backed model of flood insurance.

http://www.reuters.com…  Wed.,  06  September 2017