Federal Reserve Chairman Jerome Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery. “When the time comes to raise interest rates, we’ll certainly do that, and that time, by the way, is no time soon,” the central bank chief said Thursday during a […] Read more
New year, new red tape: U.K.-based exporters are facing extra bureaucracy and costs in 2021 as they experience the new post-Brexit trading arrangements. The U.K. agreed to a new trading relationship with the European Union in December, having decided to exit the bloc after 47 years of membership. The deal established zero tariffs on European and […] Read more
Bitcoin could be headed for a breather in the new year. The red-hot cryptocurrency continued its longest monthly win streak in more than a year on Monday after grazing a new all-time above the $28,000 mark on Sunday. Based on the charts, that run might be put on pause come 2021, Mark Newton, founder and president […] Read more
LONDON — Sterling broke through the long-awaited $1.35 barrier on Wednesday morning after European Commission President Ursula von der Leyen said progress had been made toward a post-Brexit trade deal between the U.K. and the European Union. Addressing the European Parliament, von der Leyen said that while she could not say whether there would or would not […] Read more
The U.K. government believes “significant differences” still remain with the EU, as the two sides make a final push to clinch a post-Brexit trade deal. Talks are ongoing in Brussels on Monday afternoon, but both sides remain divided over three issues: fisheries, competition rules and governance of their potential deal. They have been stuck on […] Read more
The U.S. House of Representatives passed a law to kick Chinese companies off U.S. stock exchanges if they do not fully comply with the country’s auditing rules, giving President Donald Trump one more tool to threaten Beijing with before leaving office. The measure passed the House by unanimous voice vote, after passing the Senate unanimously […] Read more
The outcome of Wednesday’s lease sale in the U.S. Gulf of Mexico will give analysts insights into whether the oil and gas industry will rush to secure new offshore leases before Biden moves to ban new lease developments as part of his energy plan geared toward support for renewables, emissions reduction, and the creation of green energy […] Read more
LONDON — The prospect of a Joe Biden presidency and the most progressive climate strategy the U.S. has ever attempted is not something that should concern the energy industry, oil and gas executives have told CNBC. Instead, they hope President-elect Biden will engage directly with them as he rolls out his energy plan. Biden, who has won the U.S. […] Read more
OPEC on Wednesday trimmed its global oil demand forecasts for the remainder of this year and 2021, citing a weaker-than-expected economic outlook and a surge in coronavirus cases. In a closely watched report, the group of oil-producing nations said it now expects world oil demand to contract by around 9.8 million barrels per day year over […] Read more
Lobby formation is normally initiated for the purpose of strengthening a nation’s standing and the need to activate its role on the international scene, thus, serving its interests and strategies. The emergence of lobbies is one of the most important features of the modern state. It evolved in the last quarter of the 20th century, […] Read more
