India, China look to form ‘Oil Buyers Club’
They will be looking to import more US crude oil in order to reduce OPEC’s sway, both over the global oil market and over prices, India’s Petroleum Ministry said on Wednesday. China plans to create a $78bn natural gas giant “With oil producers' cartel OPEC playing havoc with prices, India discussed with China the possibility of forming an 'oil buyers club' that can negotiate better terms with sellers as well as getting more US crude oil to cut dominance of the oil block,” a tweet from the Petroleum Ministry’s Twitter account reads.India has been saying for months that oil prices have risen too much to be sustainable for many oil-importing countries.Last month, as Brent Crude prices briefly broke above $80 a barrel—the highest since late 2014—gasoline and … [READ MORE...]
Amazon Tightens Grip on a New Medium: Live Streams of Video Games
“You have this really unique live interaction you don’t get with YouTube videos,” said Meg Kaylee, a streamer and host on GameStop TV who built her career playing various games on Twitch after starting on YouTube. “It’s a completely different experience.”Citing Twitch’s fervent audiences and the “better job” the company does in communicating with talent, Ms. Kaylee, 20, added that she had never really considered signing up with YouTube Gaming.Other Twitch competitors include Mixer, a comparatively small service from Microsoft that hopes to capitalize on the success of the company’s Xbox gaming console. Twitter has entered the field by bidding aggressively to broadcast e-sports on Twitter Live, while offering its live-stream platform, Periscope, as a gathering place for gamers. Facebook has … [READ MORE...]
Bags of Cash and Stealthy Deliveries: How Pot Start-Ups Pay Taxes
The federal government has a history of taking a hard-line view of this industry. In 2015, the Federal Reserve Bank of Kansas City likened Colorado’s legalization of marijuana to allowing “trade in endangered species or trade with North Korea.”But that hard-line is beginning to change, which could mean that down the road, federal regulations might loosen up.Senator Chuck Schumer, Democrat of New York, said last month that he would introduce a bill decriminalizing cannabis. And President Trump recently suggested that he would be open to signing a law that would allow states to control their cannabis industries without threat of federal prosecution. A business group, the National Cannabis Industry Association, recently produced a video encouraging citizens to ask Congress to “support legal … [READ MORE...]
Latest News
Feeling Good About the Economy? You’re Probably a Republican
Steven Saenz, who is Hispanic, graduated from college in the teeth of the recession, and went to architecture school in part to avoid entering the weak labor market. Even so, it took him nine months after completing his degree to find a job, and two more years to feel stable.Now, however, Mr. Saenz has a good job at a Dallas architecture firm, and last year bought his first home with his wife. Still, Mr. Saenz, 32, said he and his wife watched their spending closely.“Just being a product of … [Read More...]
As China Curbs Borrowing, Growth Shows Signs of Faltering
The downgrades were among many reasons the government has tightened some curbs on borrowing since the end of the autumn. Beijing has particularly clamped down on lending by online finance companies and other private sector businesses that bypass the state-controlled banking system.While commercial banks have continued to lend the money they hold from deposits, these conventional loans go mainly to state-owned enterprises. Private lenders, meanwhile, charge interest rates that are double or … [Read More...]
E-Commerce Might Help Solve the Mystery of Low Inflation
Online prices of personal computers fell by 12.3 percent, for example, but the C.P.I. showed just a 6.9 percent drop. Toy prices online slumped 12 percent, while the C.P.I. put the drop at just 7.8 percent. Online prices for photographic equipment and supplies fell 9.2 percent compared with the 0.6 percent decline registered by the official measure.The government will publish the C.P.I. data for May on Tuesday; in April, the index showed a 12-month increase of 2.1 percent. The monthly figures … [Read More...]
How Good Is the Trump Economy, Really?
And looking at the growth rate instead of the level shows that the 2.09 percent improvement in the first year of the Trump administration is below a couple of the peaks of the Obama second term, including a 3 percent reading in the year ending in the first quarter of 2015.In talking about the economy, the level, direction and rate of change all matter. They just matter in different ways.The late 1990s, for example, featured both strong levels of economic activity and fast growth. In the … [Read More...]
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Small Business
Bags of Cash and Stealthy Deliveries: How Pot Start-Ups Pay Taxes
The federal government has a history of taking a hard-line view of this industry. In 2015, the Federal Reserve Bank of Kansas City likened Colorado’s legalization of marijuana to allowing “trade in endangered species or trade with North Korea.”But that hard-line is beginning to change, which could mean that down the road, federal regulations might loosen up.Senator Chuck Schumer, Democrat of New … [Read More...]
Some Said They’d Flee Trump’s America. These People Actually Did.
Unplugging and Yet NotJust like late-1960s hippies, right? But living an untethered life has gotten easier now that many people need only a laptop and a fast internet connection to earn a living. Websites like Nomadlist help people decide where on Earth to go. The rise of Airbnb makes it easy to rent space in most corners of the globe with a swipe of your iPhone. Roving parents can find global … [Read More...]
Your Money
Your Money Adviser: Hurricane Season Has Begun. Do You Need Flood Insurance?
Julie Mix McPeak, commissioner of Tennessee’s Department of Commerce and Insurance and president of the National Association of Insurance Commissioners, said the association was urging a long-term reauthorization of the federal flood program and also supports changes to increase availability of private flood insurance options for consumers.Meanwhile, she said, homeowners should consider buying … [Read More...]
Your Money Adviser: Advice Has Changed on What Car to Buy for a Young Driver
It can be a challenge, however, to find a suitable car from 2012 and after for less than $10,000, she said. Some carmakers included electronic stability control on earlier models, however, and those may be found at lower prices. For a list, check the website of the National Highway Traffic Safety Administration.Also, the Insurance Institute for Highway Safety offers a list of recommended used cars … [Read More...]