COMPETITION forces companies to keep prices low to attract customers. But if a few firms become powerful enough, they can see off competitors and charge more. A new working paper by Jan De Loecker of the University of Leuven and Jan Eeckhout of University College London presents evidence that this is happening across the rich […]
(Reuters) – BP Plc (BP.L) is in the lead to acquire the U.S. onshore shale oil and gas assets of BHP Billiton Ltd (BHP.AX) (BLT.L) after submitting an offer worth well in excess of $ 10 billion, people familiar with the matter said on Friday. FILE PHOTO: Logos of BP are on display at a […]
“Our people crave, more than anything else, to know the extent of the nation,” says the narrator in “Do You Love Me?”, a short story by Peter Carey set on an imaginary world that lionises cartographers. To satisfy that craving, the country carries out a regular, exhaustive census: a “total inventory of the contents of […]
CHICAGO (Reuters) – (The writer is a Reuters columnist. The opinions expressed are his own.) FILE PHOTO: A cake to celebrate the 52nd Anniversary of Medicare and Medicaid is seen on Capitol Hill in Washington, U.S., July 27, 2017. REUTERS/Yuri Gripas/File Photo Navigating Medicare can be complicated, but one big change recently introduced requires that […]
CENTRAL bankers and economists have spilled much ink in recent years on the question of why wages have not grown more. The average unemployment rate in advanced economies is 5.3%, lower than before the financial crisis. Yet even in America, the hottest rich-world economy, pay is growing by less than 3% annually. This month the […]
(Reuters) – Wall Street ended higher on Monday after a choppy session, with gains in Apple and other technology stocks offsetting worries about an escalating trade war between Washington and its trading partners. Microsoft Inc (MSFT.O), Facebook Inc (FB.O) and Apple Inc (AAPL.O) each rose 1 percent or more, pushing the S&P 500 information technology […]
SECOND chances exist, after all. Last September Uber was sideswiped when Transport for London (TfL), the city’s transport regulator, revoked the ride-hailing giant’s licence to operate in the capital, citing concerns related to public safety and reporting of drivers’ criminal offences. The decision appeared to dent the prospects of the firm, which counts London as […]
BEDMINSTER, N.J./OTTAWA (Reuters) – U.S. President Donald Trump spoke with Canadian Prime Minister Justin Trudeau late on Friday to discuss trade and other economic issues, White House Press Secretary Sarah Sanders said on Saturday. FILE PHOTO: U.S. President Donald Trump shakes hands with Canada’s Prime Minister Justin Trudeau (R) in a bilateral meeting during the […]
CHICAGO (Reuters) – (The writer is a Reuters columnist. The opinions expressed are his own.) FILE PHOTO: Copies of tax legislation are seen during a markup on the “Tax Cuts and Jobs Act” on Capitol Hill in Washington, U.S., November 15, 2017. REUTERS/Aaron P. Bernstein Ed Slott is a certified public accountant by training, but […]
NEW YORK (Reuters) – U.S. stocks rose on Thursday as technology and other growth sectors rebounded from the prior day’s declines and financial shares snapped a 13-day losing streak. The technology sector rose 1.1 percent, adding the most gains to the S&P 500. The sector’s top gainer was consulting firm Accenture PLC, which rose 5.9 […]