Search Results For [US economy]

Market mayhem: Summer blip or a serious dislocation?
The mainstream media retains a minuscule attention span which leaves fruit flies resembling long-term thinkers. Thus suddenly misplaced optimism lazily received via an economically illiterate Western political caste, has declared it’s a crash, a meltdown! “Black Monday!” Now, this is pretty ugly and of course in a world where the economy involves 7.3 billion people and an economy worth ci [...]
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“If Syriza goes back on its promises to end austerity, its finished”
A fundamental problem for Greece is that at the end of the day it wants to be in Europe but doesn’t want to have austerity policies, Mark Blyth, professor of political economy at Brown University, told RT’s “In the Now.” Greece has delayed its IMF debt payment until the end of June. [...]
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‘Nuclear war our likely future’: Russia & China won’t accept US hegemony, Reagan official warns
The White House is determined to block the rise of the key nuclear-armed nations, Russia and China, neither of whom will join the "world's acceptance of Washington's hegemony," says head of the Institute for Political Economy, Paul Craig Roberts. The former US assistant secretary of the Treasury for economic policy, Dr Paul Craig Roberts, has written on his blog that Beijing is currently "confr [...]
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Politics, “hypocrisy” cost US global economic leadership: ex-Treasury chief
The US may no longer be in control of the global economy, warned former Treasury Secretary Lawrence Summers, urging Washington to regain dominance by honoring commitments and stopping its own hypocrisy. China’s establishment of the Asian Infrastructure Investment Bank (AIIB), and Washington’s failure to stop its traditional allies from joining, was a development without precedent since the [...]
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‘Ukraine’s disintegrating economy’ comment lands Polish deputy PM in hot water
A Polish government spokesperson has criticized the deputy prime minister's remark on Ukraine‘s disintegrating economy, calling it “unfair.” Janusz Piechocinski painted a black scenario for the country gripped by hyperinflation and currency plunge. [...]
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“Ukraine’s economy in backwards drive, feeds tensions and discontent”
Tuesday protests outside the president's offices in Kiev are just a part of a bigger picture of discontent grasping Ukraine, journalist Neil Clark told RT. With the economy worsening, former Maidan allies are now angered and splitting up. Is this a small pocket of discontent or are we seeing something wider here? [...]
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Russia’s richest man first to bring foreign assets back home
Tycoon Alisher Usmanov has become the first Russian businessman to bring the controlling stakes of his key assets, mobile phone operator Megafon and iron ore producer Metalloinvest, back to Russia, after President Putin urged companies to de-offshore. "This step is related to the announcement by President Vladimir Putin of pursuing the de-offshorization of the Russian economy and the introducti [...]
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What Putin is not telling us
Even facing what under any circumstances is a perfect storm; President Putin delivered an extremely measured performance at his annual press conference and Q&A marathon. The perfect storm evolves in two fronts; an overt economic war – as in siege by sanctions - and a concerted, covert, shadow attack to the heart of the Russian economy. [...]
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Out of Balance? Criticism of Germany Grows as Economy Stalls
The latest indicators suggest Germany's once buzzing economy is beginning to stall. The development has created a serious dilemma for Finance Minister Wolfgang Schäuble. Critics say spurring growth is more important than his goal of a balanced budget. It doesn't take much these days to rile German Finance Minister Wolfgang Schäuble. [...]
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Powerhouse Germany gets own spoonful of austerity
German industry is feeling the most pressure since the peak of the global financial crisis in 2009, putting Berlin in a difficult position as it preaches tough austerity to its neighbors. Russian sanctions are only exacerbating the economic misery. Industry orders tumbled 5.7 percent in August from July, the fastest since January 2009 when they dropped 7.7 percent, the Germany Economy Ministry [...]
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Russia to appeal against US, EU sanctions to WTO
Russia considers the latest round of Western sanctions illegal and is ready to appeal against them to the World Trade Organization (WTO), Russian Economy Minister Aleksey Ulyukaev told reporters on Friday. “The latest round of sanctions provides grounds to appeal to the WTO. And we will appeal,” Ulyukaev said. [...]
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Widening income gap in US “unsustainable” but unlikely to improve
The widening gap between America's richest and the middle and working classes is unsustainable and is unlikely to improve a survey released on Monday by the Harvard Business School has found. The study which is called “an economy doing half its job” said that while large American companies were showing signs of recovery and were maintaining their competitive edge on the world stage, many mi [...]
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German economy “losing momentum”, GDP drops 0.2%
Growth in Germany contracted 0.2 percent in the second quarter, the first fall in over a year, stoking worries Europe's biggest economy is slowing down, as the Ukraine crisis and weaker trade drag down what was once a glowing model for the rest of Europe. The seasonally-adjusted gross domestic product (GDP) from April to June was confirmed Monday by Germany's Federal Statistics Office to have d [...]
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Turkey: “We’re ready to increase food exports to Russia”
As Moscow banned food imports from the West, Turkey voiced its readiness to increase its exports of agricultural products to Russia, Turkish economy minister has said. “Turkey is a major supplier of food and agricultural produce to Russia. It is ready to increase its food exports to Russia if necessary,” Turkish Economy Minister Nihat Zeybekci said in an interview with Itar-Tass. [...]
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‘EU and Russia are in the first stages of an open trade and economic war’
Russia and the EU have to look for a basis for a new dialogue of non-confrontation as they should be strategic partners working for consolidation of peace and normal economic life, Kostas Isyhos from Greece's left-wing SYRIZA party told RT. First of all, because Greece is going through the 5th year of constant recession. The memorandum policy which has been followed with austerity programs in t [...]
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India slams door on $1tn WTO deal over customs rules
The World Trade Organization got a surprise setback on Thursday when India, pushing for concessions on agricultural stockpiling, vetoed plans for universal customs rules. The deal could have added $1 trillion and 21 million jobs to the world economy. The July 31 deadline on the first proposal for major global economic reform in two decades - a series of customs procedures known as "trade facili [...]
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Russian sanctions crushing German business
The West is tightening the financial screws on Moscow, but German companies are already feeling the kickback of a slowing Russian economy and weakening ruble. Russia is Europe’s third-largest trading partner, so a spluttering Russian economy, exacerbated by the Ukraine crisis, is seriously affecting German companies. In 2013, Germany exported 36 billion euro worth of goods to Russia. [...]
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EU and US impose new round of sanctions on Russia over Ukraine
Both the European Union and the United States announced a new round of sanctions against Moscow on Tuesday, accusing the Kremlin of supporting anti-Kiev militias in eastern Ukraine and threatening to cripple the Russian economy. The 28-member nations tied to the EU were first to acknowledge in a statement Tuesday that they’ve agreed to impose broader sanctions to “limit access to EU capital [...]
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US growth shakiest since Great Recession – IMF
The International Monetary Fund (IMF) has slashed its growth expectations for the world's biggest economy to 1.7 percent for the year, after a harsh winter crushed growth in the first quarter. In June, the Washington DC-based institution forecast US growth at 2 percent. The revised forecast is below last year’s 1.9 percent growth rate, and would be the slowest annual rate for the United St [...]
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Turkey and Russia discuss Customs Union collaboration
Stalled progress towards EU membership has shifted Turkey's economic interest, and it is now looking for closer cooperation with Russia's Customs Union, Economic Development Minister Aleksey Ulyukayev said. Ulyukayev discussed the plan with Turkish Economy Minister Nihat Zeybekci at the G20 trade ministers meeting in Sydney, Australia, over the weekend. [...]
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€‹Russia and China seal historic $400bn gas deal
After 10 years of negotiations, Russia's Gazprom and China's CNPC have finally signed a historic gas deal which will provide the world's fastest growing economy with the natural gas it needs to keep pace for the next 30 years. The total value of the contract is $400 billion, Gazprom CEO Aleksey Miller said. However, the price of gas stipulated in the document remains a "commercial secret." [...]
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Message from the President of Russia to the leaders of several European countries
Vladimir Putin addressed a letter to the leaders of several European countries, to which Russian natural gas is supplied via Ukraine's territory. Ukraine’s economy in the past several months has been plummeting. Its industrial and construction sectors have also been declining sharply. Its budget deficit is mounting. [...]
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