Are central banks flying blind in economic turbulence? Lessons from London

About the author: Leslie Lipschitz is a former director of the IMF Institute, taught at Johns Hopkins University and Bowdoin College, was a visiting scholar at the Brookings Institution and an advisor to Investec Asset Management. The turmoil in the financial markets in the United Kingdom, accelerated by the policy statement of Finance Minister Kwasi … Read more

Anger at Saudi Arabia revives calls to US to throw the book at OPEC

New York CNN Business — OPEC+’s decision to cut oil production has sparked a bipartisan anger in Washington against the Saudi Arabia-led group, calling for a tough response from the US. Within minutes of OPEC+’s announcement, the White House warned it will “consult Congress on additional tools and authorities” designed to curb OPEC’s “control” over … Read more

US-China tensions could boost China’s innovation: JPMorgan

An employee works on the semiconductor wafer production line at a factory of Jiangsu Azure Corporation Cuoda Group. China has ramped up investment in its chip industry to be self-sufficient in crucial technology needed for electric vehicles, smartphones and more. VCG | Visual China Group | Getty Images Tensions between the US and China have … Read more

Hockey Canada: Canadian Tire cuts ties as group ‘continues to resist’ change – National

Hockey Canada is losing more key sponsorships — at least one seemingly permanent — ahead of the 2022-23 season due to ongoing corporate concerns about how the federation is handling allegations of sexual assault. The flight of sponsors comes as Prime Minister Justin Trudeau warned Thursday that Hockey Canada’s refusal to take the matter seriously … Read more

British Columbia permanently limits fees charged by food delivery companies

The BC government has introduced legislation to permanently limit the fees that companies such as Uber Eats, Door Dash and Skip the Dishes can charge restaurants for food delivery. The province originally introduced the 20 percent cap during the pandemic and will now continue the policy permanently. “This bill will help our restaurants navigate the … Read more

OPEC announces major cut in oil production despite US pressure

London CNN Business — OPEC+ said on Wednesday it will cut oil production by 2 million barrels a day, the largest cut since the start of the pandemic, in a move that threatens to push gasoline prices up just weeks before the US midterm elections. The group of major oil producers, including Saudi Arabia and … Read more

With a stroke of the pen, Parson approves income tax cut for Missourians from January

Tricky Question: The Missouri Legislature Is Considering A Cut In The State’s Income Tax Rate. David Nicklaus thinks the austerity measures will help the state’s economy, but Jim Gallagher argues Missouri should spend money first to support basic services. David Nicklaus, Chris Drury JEFFERSON CITY — Gov. Mike Parson on Wednesday signed … Read more

US underfishing drives up imports

According to the Food and Agriculture Organization (FAO) of the United Nations, the global fishing industry reached a record production in 2020 worth an estimated $406 billion. Fish is an important source of protein, making it essential for feeding the growing world population. In the United States, New Bedford, Massachusetts, is the nation’s most valuable … Read more

After the tax’s U-turn, British Prime Minister Liz Truss pledges to steer Britain through ‘stormy days’

New British Prime Minister Liz Truss has vowed to see Britain through “stormy days” and transform its economy, fighting to restore her authority over a rebel party after a chaotic first month in office. Most important points: Liz Truss says her plan will revive growth and unite a divided country M People’s ‘Moving on UP’ … Read more

German minister criticizes US over ‘astronomical’ natural gas prices

A photo of a natural gas flare burning near an oil pump connection at the New Harmony Oil Field in the US on June 19, 2022. Luke Sharrett | Bloomberg | Getty Images Germany’s economy minister accused the US and other “friendly” gas-supplying states of astronomical prices for their supplies, suggesting they were taking advantage … Read more