News That Matters

Tag: economic

Jared Kushner pushes economic talks in meeting with Israel’s Benjamin Netanyahu

Jared Kushner pushes economic talks in meeting with Israel’s Benjamin Netanyahu

World
May 30 (UPI) -- White House senior adviser Jared Kushner met Thursday with Israeli Prime Minister Benjamin Netanyahu to push for economic talk tied to a Middle East peace deal. The meeting was the final leg of a regional tour that took a U.S. delegation to Morocco and Jordan to rally for an economic workshop in Bahrain next month. At the Bahrain meeting, the U.S. administration plans to unveil economic aspects of its Israeli-Palestinian peace plan. "It's always a great pleasure to welcome Jared Kushner to Israel, to Jerusalem, to discuss our common efforts for prosperity, security and peace," Netanyahu said. "I have to say I am tremendously encouraged by everything I hear, and about how President [Donald]Trump, the United States, is working to bring allies together in the region against ...
German economic growth slowest for five years

German economic growth slowest for five years

Business
Germany's economy grew by 1.5% last year, its slowest rate since 2013, the latest official figures show.Figures from the Federal Statistics Office showed Europe's largest economy slowed sharply as the year wore on.A weaker global economy and problems in the car industry, caused by new pollution standards, have been cited as contributing to the slowdown.At the start of 2018, the German economy had been expected to grow by 1.8%. Growth was 2.2% in 2017.Germany's economy had shrunk in the third quarter of the year, by 0.2%, with global trade disputes blamed for the contraction.There were fears that Germany was at risk of following that with another quarter of negative growth, something that would have put the country into recession.The statistics office has ...
Stocks plunge may have been a too fearful reaction to trade, economic worries

Stocks plunge may have been a too fearful reaction to trade, economic worries

Finance
After sharp gains in the past week amid hopes for a trade deal, stocks fell back into correction mode Tuesday, plunging on worries the trade talks could fail and that global growth is slowing. But some strategists said the selling, which took the Dow down as much as 800 points intraday, appeared to be overdone and could have also been made heavier by the fact that the stock market is closed for a full day Wednesday for President George H.W. Bush's funeral. The selloff was also exacerbated by a big move in the bond market, with the trading there flashing warning signs about the economy. "I don't think this continues. I think this is people with ...
'No deal' Brexit could lead to economic collapse – BoE

'No deal' Brexit could lead to economic collapse – BoE

Business
The Bank of England says that a disorderly Brexit could push the UK towards the biggest slump in modern memory. It says that a disorderly Brexit, involving no new trade deals, severe disruption at borders and uncertain economic conditions, could lead to the British economy shrinking by nearly 8% - more than the effect of the financial crisis.In an 88-page document, the bank also claims that a disorderly Brexit could lead to house prices falling by 30%, unemployment nearly doubling and inflation spiralling to 6.5%.Under those circumstances, the interest rate could rocket to 5.5%, it adds. ...
High energy prices threaten economic damage, but likely to continue: IEA

High energy prices threaten economic damage, but likely to continue: IEA

Business
Oct. 12 (UPI) -- Expensive energy, including the prices of oil, gas and coal at "multi-year" highs, pose a threat to economic growth worldwide, particularly to emerging market economies that are also seeing depreciations of their currencies, the International Energy Agency said Friday. The agency showed particular concern that with peaks in both crude oil production and crude oil demand, both at nearly 100 million barrels per day, the spare capacity of the world has been reduced "to only 2 percent of global demand." "This strain could be with us for some time and it will likely be accompanied by higher prices, however much we regret them and their potential negative impact on the global economy," the agency said in its report. "For many developing countries, higher international prices co...