OPEC & other oil producers confirm 9-month extension to output cuts
The cuts were extended by OPEC and a dozen independent oil exporters, including Russia. The agreement between 24 oil-producing countries is expected to stabilize the markets and reduce the global oil stock by the first quarter of 2018, top officials said at a press conference in Vienna on Thursday.A nine-month extension period is believed to be optimal by the producers, according to Saudi Minister of Energy, Industry and Mineral Resources Khalil al-Falih. A further extension might not be needed, as OPEC and independent producers expect to be “at the target at the year’s end,” the minister said. US drillers likely to undermine Russia-OPEC plan to boost crude prices That doesn’t mean, though, that the countries won’t extend the cuts in March 2018 but it will be … [READ MORE...]
On Russian TV, Clinton-Trump Race Merits Wall-to-Wall Coverage
Photo Traditional Russian wooden nesting dolls depicting Hillary Clinton and Donald J. Trump at a gift shop in Moscow on Tuesday. Credit Kirill Kudryavtsev/Agence France-Presse — Getty Images MOSCOW — Given the blanket coverage on Russia’s main state-run new channels on Tuesday, it often seemed that the United States presidential election was actually happening here.Hillary Clinton and Donald J. Trump casting their ballots warranted attention, while correspondents stationed at the polls where both contenders voted weighed in repeatedly, though news was pretty thin. Rossiya 24, the main cable news channel, promised live coverage starting at 1 a.m. Moscow time on Wednesday morning, still late afternoon on … [READ MORE...]
Prototype: A Lawyer With a Taste for Soy Sauce and a High Tolerance for Pain
Flummoxed by the discrepancy, he researched how soy sauce is made and learned that it is a fermented natural product, like beer, wine or cheese. AdvertisementContinue reading the main storyThe complexity of its production makes it prime for nuance, he said, but the soy sauces he had tasted up to then were consistently mundane — “analogous to something like ‘Two-Buck Chuck’ or Budweiser.”He couldn’t understand why people didn’t expect more from sushi condiments. “If someone can pay 15 bucks for one piece of bluefin tuna, they can pay 15 bucks for a bottle of soy sauce that they’re going to put on every piece of fish,” he said he thought.Soon, Mr. Blum was making trips to far-flung corners of Japan to sample the soy sauces produced by small family breweries with centuries-old … [READ MORE...]
Latest News
Public Health: Soda Taxes Sweep to Victories, Despite Facing Big Spending
The beverage industry spent a lot of money to defeat soda taxes in four American cities Tuesday, but it lost in every one of them.The victories for soda-tax advocates — in San Francisco, Oakland and Albany, Calif., and Boulder, Colo. — were decisive. Those communities now join Berkeley, Calif., and Philadelphia in embracing plans to tax sugary beverages.The pro-tax forces had the help of their own deep pockets. The billionaires Michael Bloomberg and John and Laura Arnold donated heavily to the … [Read More...]
Fiscal Policy: The Trump Administration Could Test Whether Deficits Help the Economy
Here’s a surprising conclusion you reach when you start to game out what economic policy will look like in Donald J. Trump’s administration: While many details of his policy agenda are likely to be staunchly opposed by the left, Mr. Trump appears likely to enact a fun-house mirror version of what many liberal economists have advocated for years: Keynesian fiscal stimulus.Mr. Trump did not run a campaign with many detailed proposals, but he promised to cut taxes significantly, rebuild and expand … [Read More...]
Global Shock: Global Markets Plummet on Rising Odds of Trump Victory
Photo An employee of a foreign exchange trading company watching U.S. election results in Tokyo. Credit Toru Hanai/Reuters Donald J. Trump’s surprisingly strong showing in the presidential race is throwing global financial markets into disarray.In effect, markets had priced in a Hillary Clinton victory in Monday and Tuesday’s sessions, reflecting a firming of her position in polling. But as incoming results … [Read More...]
Economic Scene: After the Election, a Nation Tinged With Racial Hostility
Consider the challenges ahead for the nation. The next administration will face rampant inequality and persistent poverty, decaying infrastructure, and mediocre and segregated public education. It will have to deal with one of the most expensive, least effective health care systems in the industrialized world. And one way or another, it will have to address climate change. AdvertisementContinue reading the main storyMr. Trump’s mobilization of the frustration of aging white Americans … [Read More...]
Previous news
- The 2016 Race: What the Election Means for the Markets
- Economic View: A New Movement in Liberal Economics That Could Shape Hillary Clinton’s Agenda
- Economic Scene: How Waning Competition Deepens Labor’s Plight
- Making Sense of the Two Candidates’ Plans on Student Debt
- As China’s Economy Slows, a Look at What Could Happen
Small Business
Prototype: A Lawyer With a Taste for Soy Sauce and a High Tolerance for Pain
Flummoxed by the discrepancy, he researched how soy sauce is made and learned that it is a fermented natural product, like beer, wine or cheese. AdvertisementContinue reading the main storyThe complexity of its production makes it prime for nuance, he said, but the soy sauces he had tasted up to then were consistently mundane — “analogous to something like ‘Two-Buck Chuck’ or Budweiser.”He … [Read More...]
How He Got There: Christopher Gray on How to Be a Social Entrepreneur
Photo Christopher Gray pitched Scholly on “Shark Tank” while still a student. Credit via Christopher Gray Christopher Gray’s first job title after graduation was C.E.O. As the son of a single mother who lost her job during the recession, he knew he would need considerable financial aid to pay for college. After … [Read More...]
Your Money
Your Money: One Crucial Investing Question: Are Your Goals Different Now?
Photo Traders on the floor of the New York Stock Exchange on Wednesday. American investors tend to have at least half of their stock investments in United States companies. Credit Justin Lane/European Pressphoto Agency In the coming days and weeks, any tumult in the markets will probably be about a lot more … [Read More...]
Public Sacrifice: How to Fix a Retirement Plan at a School or Nonprofit
I don’t have a 403(b) plan, but I want one. How do I learn enough to get started?For public schoolteachers, the first stop should be 403bwise.com, which has basic educational materials and a forum where others may be able to help you. Dave Grant, a financial planner in the Chicago area who works with educators, has good advice on his website, too.Photo Mark Eichenlaub, left, … [Read More...]