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Which Countries Are Damaged Most by Low Oil Prices?

A chart looks at costs per barrel

Oil is by far the world’s most-traded commodity, with $786.3 billion of crude changing hands in international trade in 2015. While low commodity prices can hurt any major producer, oil prices can have a particularly detrimental effect on oil-rich economies. This is because, for better or worse, many of these economies hold onto oil as an anchor for achieving growth, filling government coffers, and even fueling social programs. If those revenues don’t materialize as planned, these countries turn increasingly fragile. In the worst case scenario, an extended period of low oil prices can cause the fate of an entire regime to hang by a thread.  Wed., 31 August 2016

Apple must repay Ireland $14,5 billion in taxes

EU orders Apple to pay up to 13 billion euros tax to Ireland

EU antitrust regulators ordered Apple (AAPL.O) on Tuesday to pay up to 13 billion euros ($14.5 billion) in taxes to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid. The massive sum, some 40 times bigger than the previous known demand by the European Commission to a company in such a case, could be reduced, the EU executive said in a statement, if other countries sought more tax themselves from the U.S. tech giant.  Tue., 30 August 2016

EU/US commercial relationships

EU’s TTIP trade deal with the US has collapsed, says Germany

The European Union’s long-planned trade deal with the US has collapsed with negotiations showing no sign of progress despite three years’ of talks, according to Germany’s economy minister. Sigmar Gabriel, also Germany’s vice-chancellor, claimed this weekend that disagreements between the EU and the US, and between countries within the EU, appear to have “de facto”  killed off any prospect of a deal to create the Transatlantic Trade and Investment Partnership (TTIP), which would be the largest bi-lateral free trade agreement ever.  Mon., 29 August 2016

The Golden Age

Why can’t we see that we’re living in a golden age?

If you think that there has never been a better time to be alive — that humanity has never been safer, healthier, more prosperous or less unequal — then you’re in the minority. But that is what the evidence incontrovertibly shows. Poverty, malnutrition, illiteracy, child labour and infant mortality are falling faster than at any other time in human history. The risk of being caught up in a war, subjected to a dictatorship or of dying in a natural disaster is smaller than ever. The golden age is now.  Sun., 28 August 2016

Amtrak invests $2.4 billion for next-gen high-speed train

Alstom wins a  $2 billion contract to deliver 28 trains

Amtrak is contracting with Alstom to produce 28 next-generation high-speed trainsets that will replace the equipment used to provide Amtrak’s premium Acela Express service. The contract is part of $2.45 billion that will be invested on the heavily traveled Northeast Corridor (NEC) as part of a multifaceted modernization program to renew and expand the Acela Express service.  Fri., 27 August 2016

Oil prices dip

Saudi Arabia dampens prospects of output freeze

Oil prices dipped in early trading on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month. International benchmark Brent crude oil prices LCOc1 were trading at $49.55 per barrel at 2114 ET, down 12 cents from their previous close. U.S. West Texas Intermediate (WTI) crude CLc1 was down 7 cents at $47.26 a barrel.  Fri., 26 August 2016

Tax war between Europe and US

Europe’s Tax War on the U.S. Treasury Heats Up

The Financial Times of London  reported that the Obama administration is continuing its protest of the gangster like theft by the EU and the UK government’s.  Yet, money talks and the EU & the UK want America’s money.  Why?  Is it because they can’t make their own? As the socialist spending of the EU countries increase European poverty in France, Spain, Greece and Italy, the EU continues its raid on the U.S. Treasury.  To get America’s money, these countries merely break the tax treaty that has prevents tax wars.  Each tax treaty has a “permanent establishment”  safeguard.  So, far the White House is silently allowing the English and the Europeans to win this war.  Thu., 25 August 2016

Labour against BREXIT

A Labour leadership Canditate wants to block Article 50

Nearly two-thirds of Labour voters voted for Britain to remain in the 28-nation bloc in the June referendum.  Wed., 24 August 2016

The Richest People in America

The 2016  list of richest people in US 

The forbes 400 is the definitive list of wealth in america, profiling and ranking the country’s richestbillionaires by their estimated net worths.  Tue., 23 August 2016

Pfizer wants to acquire Medivation

Pfizer Said Close to $14 Billion Deal to Acquire Medivation

Pfizer Inc. is close to an agreement to buy Medivation Inc. for about $14 billion, people familiar with the situation said, the latest in a long run of blockbuster deals in the drug and biotechnology industries. The deal may be announced as early as Monday, said the people, who asked not to be identified because the matter is still private. The biotech company’s shares closed at $67.16 on Friday, giving it a market value of $11.1 billion.  Mon., 22 August 2016