The U.S. will be a dominant force in global oil and gas markets for many years to come as the shale boom becomes the biggest supply surge in history, the International Energy Agency predicted.By 2025, the growth in American oil production will equal that achieved by Saudi Arabia at the height of its expansion, and…
Billionaires have won big in the long-running bull market that may be teetering on the edge of ending. But they’re also set to lose big. Over the past week, the world’s wealthiest have collectively dropped about $50 billion in estimated net worth. What’s $50 billion among the world’s uber-rich? Enough to leave a mark, that’s…
Amazon Wages Jeff Bezos’s boosting of hourly wages, to a minimum of $15 in the U.S. and £9.50 in the U.K., is the result of two factors, according to the Guardian‘s Larry Elliott. The first is political pressure from Bernie Sanders and Donald Trump in the U.S., and unions and the clergy in the U.K.…
There are wine bars and a cycling studio along the riverfront in Long Island City, among gleaming high-rise apartment buildings with views of Midtown Manhattan. The soon-to-open library branch is a modern art cube of concrete, the median income is $138,000 a year, and America’s hottest online retailer is about to move in. In the…
WASHINGTON (Reuters) - U.S. President Donald Trump escalated his trade war with China on Monday, imposing 10 percent tariffs on about $200 billion worth of Chinese imports, but sparing smart watches from Apple (AAPL.O) and Fitbit (FIT.N) and other consumer products such as bicycle helmets and baby car seats. Trump, in a statement announcing the…
THE FATE of the euro was always going to depend on Italy. With annual GDP of more than €1.6trn ($1.9trn), about 15% of euro-area output and debt of nearly €2.3trn, it poses a challenge to the single currency that Europe seems unable to manage but cannot avoid. Matters are now coming to a head, as…
Elon Musk and the Securities and Exchange Commission reached an agreement on fraud charges that were filed on Thursday. Musk gets to keep his job as CEO but must resign within 45 days as chairman for three years, according to a statement released by Saturday by the regulator. He’ll also have to pay a $20…
Enlarge / Elon Musk in 2004, the year he became chairman of the board at a tiny electric car startup called Tesla. Tesla's battle with the Securities and Exchange Commission could be the company's biggest crisis in almost a decade. And it all started with a tweet. "Am considering taking Tesla private at $420," Musk…
Behold, America: The Entangled History of “America First” and “the American Dream”. By Sarah Churchwell. Basic Books; 368 pages; $19.99. Bloomsbury; £20. Get our daily newsletterUpgrade your inbox and get our Daily Dispatch and Editor's Picks. IT IS common for historians to examine the actions of great men. Sarah Churchwell, a professor of American literature…
Image copyright Reuters Image caption Nikki Rose (centre) and Ian Power (right) were the first to buy legal cannabis at Tweed in St. John's Newfoundland, just after midnight on Wednesday Canada has become the second country after Uruguay to legalise possession and use of recreational cannabis.The nationwide market for cannabis opened Wednesday at midnight amid…
