Companies appear to be gaining market power

Companies appear to be gaining market power

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 […]

BP in lead to acquire BHP's U.S. onshore shale assets: sources

BP in lead to acquire BHP's U.S. onshore shale assets: sources

(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 […]

China’s statistics are bad. Many criticisms of them are worse

China’s statistics are bad. Many criticisms of them are worse

“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 […]

New U.S. Medicare cards prompt warnings about phone scams

New U.S. Medicare cards prompt warnings about phone scams

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 […]

The rich world needs higher real wage growth

The rich world needs higher real wage growth

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 […]

Wall Street ends higher, helped by tech rally

Wall Street ends higher, helped by tech rally

(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 […]

Contrition wins the day for Uber in a big market

Contrition wins the day for Uber in a big market

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 […]

Trump, Trudeau discuss trade, economic issues over phone call

Trump, Trudeau discuss trade, economic issues over phone call

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 […]

Smart IRA opportunities exist under new U.S. tax law, but hurry

Smart IRA opportunities exist under new U.S. tax law, but hurry

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 […]

Wall Street advances with help from technology, financials

Wall Street advances with help from technology, financials

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 […]