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The US economy is on the mend

webadminAugust 27, 2020

Several indicators indicate that the US economy is on the mend and is gradually recovering from the effects of the coronavirus pandemic and the resulting crisis, writes Reuters. Among the indicators analyzed by the Agency are data on the state of retail and unemployment, the Oxford index of economic recovery, as well as statistics on the opening of new jobs. All of them show positive dynamics. Some statistics seem illogical at first glance. Thus, the expiration of the period during which unemployed Americans could count on additional benefits did not lead to a decrease in aggregate demand from the population. The volatility index, calculated by the Chicago Board of options (CBOE) and also known as the "fear index", is close to the February values. This indicates a positive mood o...

BusinessTechUncategorizedWorld

Europe’s largest economy faces “zombie companies”

webadminAugust 26, 2020

In Germany, there are more and more so-called zombie companies that can eventually undermine the economy for many years to come. Thousands of such businesses are unable to cover their debt service costs at the expense of profits, writes the Financial Times. Under a government decree introduced in March, German companies affected by the pandemic are not required to file for bankruptcy. The Minister of justice Christine Lambrecht wants to extend this decision until March of next year. However, many economists believe that it is better to let such firms close than to keep them on artificial life support. The government of Europe's largest economy is spending billions on job-saving programs, cheap loans to companies, and rehabilitation of large firms facing bankruptcy. It is estimate...

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The US got the Iraqi oil

webadminAugust 25, 2020

American energy companies Chevron, Honeywell, General Electric and others have entered into oil-related agreements with the Iraqi authorities for a total of eight billion dollars. This was reported by the us Department of energy. The former has been granted exclusive rights to explore, develop and produce oil in the province of Di-Kar. Honeywell plans to start gas production in the Ar-Ratawi field, which will allow Iraq to use " local gas resources to meet domestic energy demand." In addition, General Electric got contracts for the electrification of Iraq. These deals are key to Iraq's energy future, said US energy Secretary Dan Brouillette. Earlier, Saudi Arabia and Russia criticized Iraq for failing to reduce oil production, which, in their view, threatens the OPEC + deal. H...