Tag: Economies

German Industry Group Criticizes China Over New Sanctions Law

BERLIN—Germany’s powerful BDI industry association criticized China on Tuesday for passing the Anti-Foreign Sanctions Laws, which it said sent a worrying signal to investors and companies abroad. China is one of the most important export markets for German companies outside the European Union’s single market, but concerns over human rights abuses and a crackdown in…


Warren Buffett’s Top Tips for Beating Inflation

By Brian Baker From Bankrate.com Warren Buffett has been thinking about inflation for a long time. The legendary 90-year-old investor had the dangers of inflation drilled into him by his Republican Congressman father, according to biographers, and has repeatedly commented on the subject throughout his investing career. “We’re seeing very substantial inflation,” Buffett said at…


Australia, UK Inch Towards Free Trade Deal As Prime Ministers Meet

Australia and the UK are inching towards finalising a free trade deal with leaders from both countries soon to announce an in-principle agreement. An in-principle agreement is a step-up from a Memorandum of Understanding and is legally enforceable, demonstrating the progress last-minute negotiations over the past six weeks are having. Australian Prime Minister Scott Morrison…


Remittance Firms Slow to Add Bitcoin, Despite El Salvador Move

LONDON—El Salvador may be touting bitcoin’s use to help its citizens living abroad send funds back home, but the biggest remittance firms are cautious about offering cryptocurrency services. In a move that could be a harbinger of crypto becoming a more popular way to send money across borders, El Salvador on Wednesday became the first…


Virus Outbreaks at Thai Factories Threaten Export Sector, Recovery

BANGKOK—A series of coronavirus outbreaks in Thai factories is raising concerns that the export sector could be hit hard, threatening to further undermine an economy as it struggles to recover from the lockdowns’ crippling blow to the crucial tourism industry. The virus has swept through over 130 factories, including those supplying international brands, with more…


UK Trade Talks Up Next for Australian PM Following G-7

Trade Minister Dan Tehan has been working “throughout the night” to get the Australia-UK free trade agreement (FTA) ready for Prime Minister Scott Morrison’s sign-off when he lands in London. Tehan said on Sunday that negotiating teams from the Australian and United Kingdom (UK) governments had made “enormous progress” over the past six weeks and…


Lumber Is Wildly Expensive Now. Even Picnic Table Prices Are Through the Roof

By Andrew Khouri, Carly Olson, Andrew Mendez From Los Angeles Times The cost of a common commodity has scrambled summer plans, and it’s not gas: Soaring lumber prices are making new homes, renovations and even simple picnic tables drastically more expensive. At times, bills are coming in thousands or even hundreds of thousands of dollars…


US Inflation Expectations Build in June Survey of Economists

By Olivia Rockeman and Sarina Yoo From Bloomberg News Economists’ inflation expectations keep rising as a variety of key metrics underscore building price pressures. Forecasters raised their estimates for the consumer price index and for a key inflation gauge favored by the Federal Reserve, known as the personal consumption expenditures price index, every quarter through…


California Tells Public to Prepare for Heatwave, Power Prices Soar

The California power grid operator told the public to prepare to conserve energy next week if needed as homes and businesses crank up their air conditioners to escape what is forecast to be a brutal heatwave. Already, power prices across the U.S. West spiked to their highest since the February freeze when natural gas pipelines…


Pennsylvania’s Energy Bills Could Rise by $1,150 Annually by Joining RGGI: Expert

Senate Bill 119 (SBL 119), which seeks to prevent Pennsylvania’s governor from advocating for membership in the Regional Greenhouse Gas Initiative (RGGI) framework agreement, is awaiting a final vote. The Pennsylvania Senate Environmental Resources and Energy Committee (ERE) approved the bill on April 27. However, the governor will veto SBL 119 if it passes, said…