China to ignore Trump sanctions, continue doing business with Iran

China on Wednesday defended its business ties with Iran despite a set of U.S. sanctions targeting Tehran, potentially setting up further trade conflicts between Beijing and the Trump administration. A statement from the Chinese Foreign Ministry reported by Reuters states that China’s business dealings with Iran comply with all United Nations sanctions currently applied to Iran, and that the country would […]

NATO: administration keeps working to protect the USA from the danger in the oval office

Senior American national security officials, seeking to prevent President Trump from upending a formal policy agreement at last month’s NATO meeting, pushed the military alliance’s ambassadors to complete it before the forum even began. The work to preserve the North Atlantic Treaty Organization agreement, which is usually subject to intense 11th-hour negotiations, came just weeks […]

A man with cancer awarded $298 million in lawsuit against Monsanto

A jury’s $289 million award to a former school groundskeeper who said Monsanto’s Roundup left him dying of cancer will bolster thousands of pending cases and open the door for countless people who blame their suffering on the weed killer, the man’s lawyers said. “I’m glad to be here to be able to help in […]

Tax avoidance: the missing profits of nations

  Between 1985 and 2018, the global average statutory corporate tax rate fell by more than half. This column uses new macroeconomic data to argue that profit shifting is a key driver of this decline. Close to 40% of multinational profits were artificially shifted to tax havens in 2015, and this massive tax avoidance – and […]

Oil price alert: Iran ready to close the Strait of Hormuz

An old doomsday scenario has been revived again by Iranian officials. Iranian president Rouhani stated on Tuesday in Bern, Switzerland that his country could block the Strait of Hormuz for all Arab shipping traffic if Washington fully implements its zero oil export targets for Iran in the coming months. Rouhani, who is currently on a lobbying mission […]

Stiglitz: “Can the Euro Be Saved?”

by Joseph Stiglitz The euro may be approaching another crisis. Italy, the eurozone’s third largest economy, has chosen what can at best be described as a Euroskeptic government. This should surprise no one. The backlash in Italy is another predictable (and predicted) episode in the long saga of a poorly designed currency arrangement, in which […]

Kim & Trump in Singapore: “The summit produced little more than frothy statements without substance”

“The Singapore summit produced little more than frothy statements without substance, with little accountability for Kim Jong-un to cease and dismantle his nuclear weapons program.”  Jung Pak, SK-Korea Foundation Chair in Korea Studies and Senior Fellow in the Center for East Asia Policy Studies: The Trump administration will probably tout this as a Nobel-worthy effort by President […]

Bernanke Says U.S. Economy Faces a ‘Wile E. Coyote’ Moment in 2020

U.S. economic growth could face a challenging slowdown as the Trump Administration’s powerful fiscal stimulus fades after two years, according to former Federal Reserve Chairman Ben Bernanke. Bernanke said the $1.5 trillion in personal and corporate tax cuts and a $300 billion increase in federal spending signed by President Donald Trump “makes the Fed’s job […]

Europe, Merkel, the ESM and a possible asymmetric shock

Much of the French and German press was preoccupied with analysing what Angela Merkel meant when she made her proposals on the eurozone. The consensus is similar to ours – there is not much change from what we knew already. What we do sense, however, is that some of the commentators underestimate the difficulty to […]

Trump might be leading the US to another meltdown

The US financial regulatory agencies have weakened banking rules. Then in late May, Congress voted to weaken them even further. They went after the Volcker Rule which prohibits banks from making risky investments with depositors’ money. The Volcker Rule is part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which then President Barack Obama signed in 2010 […]