Saudi Arabia expects that a stake of its state oil giant Saudi Aramco would be valued at more than $2 trillion. The officials of the country said this while they confirmed the plan to sell on Monday. Deputy Crown Prince Mohammed… Read More ›
Economy & Finance
China’s Commodities Futures at Center of Great Ball of Money
The commodities market is the new obsession or Chinese speculators. Exchanges in Shanghai, Dalian and Zhengzhou have been prompted to boost fees or issue warnings to investors following trading in futures on everything from steel reinforcement bars and hot-rolled coils… Read More ›
Outline Agreement Reached Between VW and US to Overcome Crisis
Taking a significant step forward in its effort to emerge from the emissions-cheating scandal, Volkswagen AG agreed to fix or buy back about 500,000 tainted cars in the U.S. The German carmaker was commended at a hearing in San Francisco… Read More ›
Mitsubishi Motors admits to manipulating fuel economy tests on its vehicles
Although the admission has wiped off $1.2 billion from its market capitalization, with the admission the company can now begin the process of rectifying the faults. Even in VW’s case, investors have wanted the company to turn a new leaf,… Read More ›
Oil Traders Sweat after Doha Failure over Saudi’s Other Warning
Oil traders are weighing another implied warning from the Saudi deputy crown prince: the threat of an intensifying clash with Iran over market share, after his comments thwarted supply negotiations in Doha. Talks between 16 producing countries on April 17… Read More ›
Iran wants increased access to global financial system
Despite the lifting of certain economic sanctions, the U.S. still has rules which forbid U.S. banks to work with Iran, which essentially acts as a barrier for Iran to benefit from the U.S. financial system. In the wake of Iran… Read More ›
Alarming SUV Boom in China and the Consequences
The Chinese government hopes to boost the number of clean vehicles on the road 10-fold by the end of the decade through the spending billions on research grants, steep subsidies and new infrastructure — such as charging stations — to… Read More ›
Plans to Deal ‘hammer blow’ to Tax Evasion by UK and European Allies
In a direct response to the Panama Papers leak that exposed how the world’s richest and most powerful people hide their wealth from tax authorities, Britain and its European allies have announced new rules designed to be a “hammer blow”… Read More ›
Spain’s Industry Minister resigns after his name figures in the Panama Papers
Two Spanish news outlets have claimed they have documents which link Jose Manuel Soria and his brother to an offshore account. Spain’s Minister of Industries Jose Manuel Soria has sent in his papers after his name was mentioned in the… Read More ›
Well Fargo’s ranking in the global financial system gets a boost
A financial watch dog within the U.S. Government’s Treasury Department has boosted Well Fargo’s ranking in the global financial system. As per the findings of a U.S. government research group, Wells Fargo & Co is the only large U.S. bank… Read More ›
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