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 […]

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 […]

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 […]

Solidarity in euro zone should not lead to debt union, Merkel says

* Solidarity should be helping others to help themselves – Merkel * ESM should become EMF with national oversight – Merkel * Merkel invites new Italian PM to Berlin   BERLIN, June 2 (Reuters) – German Chancellor Angela Merkel appeared on Saturday to rule out debt relief for Italy, saying in a newspaper interview that […]

French banks are by far the most exposed to Italian debt

With political developments in Italy keeping up tension in the financial markets, the German press has taken a look at the various eurozone countries’ exposures to Italian debt, public and private. Data from the Bank for International Settlements shows that French banks are by far the most exposed to Italian debt. Whether Germany comes second at […]

Italy may trigger new global crisis

In choosing this moment to heighten trade tensions with Europe, Donald Trump is ignoring major economic and political upheaval in Rome. Trouble in Italy, the euro area’s third largest economy, has the potential to trigger a global economic disaster on the scale of the 2008 financial crisis. Before enforcing restrictive trade measures that might blacken […]

Greenspan: truculent view on Target-2 points to ‘destabilising’ euro

Rising creditor-debtor central bank balances in the euro area under the Target-2 overdraft system underline the ‘destabilising potential’ of the European single currency, according to Alan Greenspan, former chairman of the Federal Reserve board. Greenspan, a sprightly yet wistful 92, used a New York dinner organised by the World Gold Council and NYU Stern Business […]

Global Bond: How 3% Yields Could Reshape the Investing Landscape

The global bond market’s primary benchmark, the 10-year U.S. Treasury yield, is knocking on the door of 3 percent, a level it hasn’t topped in more than four years. That’s more than just a nice round number. Higher yields make the burden of everything from mortgages to student loans and car payments even heavier. Some […]

Stiglitz on Trade War with China: “We have a demagogue who’s a president”  

Speaking to the South China Morning Post on the sidelines of the China Institute Executive Summit in New York, the Nobel Prize-winning economist and Columbia University professor said: “We have a demagogue who’s a president.” Trump, for political reasons, is trying to reverse a 70-year process of international agreements that have created an industrial chain “where borders […]