Ten years after the collapse of Lehman Brothers and the financial crisis that followed, it is clear that far from being safer, the world is a more unstable and worrisome place. In the UK, average wages remain below pre-crisis levels and inequality is high. Investment in equipment and hi-tech...
The economic sanctions were originally lifted when Barack Obama’s administration had negotiated the Iran nuclear deal. President Trump however, withdrew from the pact in May,claiming that it would not prevent Iran from making nuclear weapons. He then followed up earlier this month with his decision to reimpose economic sanctions on...
The number of American seniors filing for bankruptcy has rocketed by 500% since 1991. The Consumer Bankruptcy Project has revealed that 12% of individuals who file for bankruptcy today are seniors, compared to just 2.1% less than three decades ago. These are the same seniors who are referred to as the...
From a distance, Esenyurt, a newly built up neighbourhood on the edges of Istanbul, looks a bit like Hong Kong or Dubai, with a bustling downtown of shiny skyscrapers. Upon closer examination, however, you notice that tower after tower stands incomplete, lacking windows or furnishings; others are only half-occupied,...
The US and China have escalated their ongoing trade war by implementing 25% tariffs on $16bn worth of imports on both sides, bringing the amount levied to a combined $100bn (£78bn) since July. Beijing began implementing the new tariffs on Thursday, when the US said it would begin collecting extra...
Venezuela moved to shore up its crumbling economy on Monday, devaluing its currency and preparing to raise the minimum wage by more than 3,000% in what the country’s president, Nicolás Maduro, declared a visionary bid to tame rampant hyperinflation. More than 500,000 Venezuelans have fled overseas this year amid chronic...
The timing of the government’s latest export drive is far from accidental. With Theresa May intent on showing Brussels that Britain could not just survive but thrive in the event of a hard Brexit, Whitehall has come up with a plan for increasing the amount of goods and services...
Liam Fox is to unveil a plan intended to increase Britain’s exports after Brexit to 35% of GDP as his cabinet counterpart Dominic Raab heads to Brussels for the latest round of divorce talks with the European Union. The international trade secretary believes there are 400,000 UK businesses that could...
The new study from the World Bank Group and the World Economic Forum has declared the UAE as the most competitive economy in the Middle East and North Africa (Mena). The Arab World Competitiveness Report 2018, launched Tuesday in Dubai, ranked the UAE as the 17th most competitive country in...
Until reports came on Thursday night that the US was preparing to impose more sanctions, the Turkish government had had a decent few days. The currency crisis, which threatened to become chaotic on Monday, had improved. The lira had almost returned to its level of a week ago. During...