Economy

Global oil glut set to continue despite efforts to prop up price

The world’s oil glut is likely to persist next year in a blow to efforts by major producers to shore up the oil price by cutting output, according to a leading energy authority. Growth in oil supply will outstrip growth in demand during 2018, driven by increasing production from US shale and other countries outside Opec, the International Energy Agency ...

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Fed raises interest rates again in further sign of confidence in US economy

The US Federal Reserve announced it was raising short-term interest rates by a quarter percentage point on Wednesday as the central bank continued to unwind the huge economic stimulus plan brought in after the great recession. After a two-day meeting, the Fed raised the target range of the federal funds rate from 1% to 1.25%, the third consecutive quarterly increase. ...

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OECD, outlook, global, economy

OECD: outlook for global economy is ‘better, but not good enough’

Rising inflation and weak wage growth will leave Britain rooted to the bottom of the league table for living standards among the west’s richest countries in 2018, the Organisation for Economic Co-operation and Development has warned. In the last piece of economic news before the general election, the Paris-based thinktank said the next government would spend the first 18 months ...

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benefits, free trade, agreements, TTIP, Ceta, Nafta

Who really benefits from free trade agreements like TTIP, Ceta and Nafta?

Matthew d’Ancona asserts that “the vigorous exchange of goods and labour is the greatest engine of prosperity the world has ever known” (Brexit meets Trumpism: the new special relationship, 14 November). Had he prefaced his remark with “the fair and vigorous exchange” I might have agreed with him. As it is, his comment is a meaningless mantra. Prosperity for whom? ...

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Curious George, loses, store, down

Curious George loses his home: world’s only store to be closed down

Curious George must find a new home. The only shop dedicated to the mischievous fictional monkey is being booted out of its building at One JFK Street in Harvard Square in Cambridge, Massachusetts, forcing the children’s book and toy store to look for a new home. Real estate investment trust Equity One bought the building last year, and has announced ...

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Theresa May sets out stall for UK’s place in Trump’s world

Britain must “adapt to the moment and evolve its thinking” to become a global leader in free trade, Theresa May is to say. The prime minister will pledge to lead the charge in remaking globalisation, days after Donald Trump was elected US president on the promise of protecting American industry and ending a string of free trade agreements. May’s speech ...

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US, economy, grew, fastest, rate, quarter

US economy grew at its fastest rate in two years in the last quarter

The US economy grew at its fastest rate in two years in the last quarter, due to a surge in exports and improving consumer confidence. The news represented a blow to Donald Trump’s hopes of winning the White House. The US commerce department on Friday reported that gross domestic product (GDP) increased by 2.9% in the third quarter, up from ...

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Trump, Clinton, concerns, AT&T-Time, Warner, deal

Trump and Clinton camps raise concerns over AT&T-Time Warner deal

The US telecoms giant AT&T has agreed to buy Time Warner, the owner of the Harry Potter and Batman film franchises as well as HBO, CNN and Cartoon Network, for $85.4bn (£70bn), creating a new media behemoth that will control both content and its distribution. The deal has prompted political concern. On Saturday, the Republican presidential nominee, Donald Trump, promised ...

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UK, drops out, countries, deals, five

UK drops out of top five best countries in which to make deals

Investors from the world’s three largest economies are increasingly sceptical about doing deals in the UK due to uncertainty over Brexit, according to a report from one of the world’s top accounting firms. The UK dropped out of the top five global destinations for mergers and acquisitions for the first time in the seven-year history of the EY Global Capital ...

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Germany believes Trump presidency would batter US economy, report says

Germany’s economy ministry believes a Donald Trump presidency would severely damage the US economy, according to an internal memorandum reported by Der Spiegel magazine on Saturday. The ministry expects “shrinking gross domestic product, fewer jobs and higher unemployment” in the US if the Republican candidate were to implement his campaign pledges, the magazine cited the memo as saying. Trump has ...

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