Transportation, power, and water facilities are public goods that benefit everyone in the economy, and government provision of these goods is critical to the economy. That is not a controversial conclusion. However, infrastructure projects are often touted as excellent methods of fiscal stimulus, irrespective of the benefits of the end products they produce. This claim
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Oxford university and AstraZeneca are to resume the international clinical trial of their proposed coronavirus vaccine candidate. Speculation that there might be a significant delay in the much-watched study turns out to have been unjustified. The trial was paused last Sunday when a participant fell ill in the UK, the university said this afternoon, though
The writer, a former permanent under-secretary of the Foreign and Commonwealth Office, is a managing partner at Flint Global, a consultancy Does the UK have a foreign policy? The failures in Iraq and Afghanistan curbed our Blairite appetite for intervention. Then the Brexit referendum and the advent of Donald Trump as US president upended the
Buying and owning real estate is an investment strategy that can be both satisfying and lucrative. Unlike stock and bond investors, prospective real estate owners can use leverage to buy a property by paying a portion of the total cost upfront, then paying off the balance, plus interest, over time. While a traditional mortgage generally
The Hyliion Hypertruck ERX Source: Hyliion Inc. Special purpose acquisition company Tortoise Acquisition Corp. and electric truck company Hylioon will vote on their merger on September 28, meaning there will likely soon be another EV player on the market, according to a recent filing with the Securities and Exchange Commission. The companies announced their intention to
Jean-Sébastien Jacques was battling right to the very end to stay at the helm of Rio Tinto. After enduring a two-week hotel quarantine in Perth, the hard-charging chief executive of the Anglo-Australian mining group managed to secure a meeting this week with the Puutu Kunti Kurrama and Pinikura people — traditional owners of an ancient
Shortly after Wirecard collapsed this year, renowned short-seller David Einhorn hit out at auditors for failing to find a fraud that was “hiding in plain sight”. The German payments group, which had been investigated by the Financial Times for years, filed for insolvency after admitting that €1.9bn of its cash probably did not exist. EY,
The concepts of trading level support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis. Part of analyzing chart patterns, these terms are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a
An antenna for a satellite ground station Amazon Microsoft is looking to challenge Amazon in offering a service that connects satellites directly to the company’s cloud computing network, according to documents the company filed with the Federal Communications Commission last month The effort shows how the two largest providers of cloud infrastructure — data centers in
Firefighters in Oregon were battling 16 separate large fires that have forced authorities to evacuate 40,000 people and alert another 500,000 to prepare to flee, including residents in towns close to the city of Portland. Doug Grafe, the fire chief in the northwestern US state, said on Friday that the three largest fires were in
It’s the women’s style issue (the men’s one is next week). But how do we feel about the “new season”? It’s a weird one, for sure. As the drift of editorial continues to predict “the end of fashion as we know it”, and the market goes long on sweatpants, the idea of autumn trends seems
Shareholders have been dumping energy stocks at a rapid pace so far this September, with many issues losing between 10% and 15%. Lower crude oil prices are driving the decline, although sector equities have the power to decouple from the futures market. The narrow correlation suggests growing uncertainty about the pace of the economic recovery
SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA’s Kennedy Space Center in Florida on May 30, 2020, following the launch of the agency’s SpaceX Demo-2 mission to the International Space Station. NASA/Kim Shiflett JPMorgan Chase thinks it’s found the next hot market for investors: Taking stakes
A record 150 funds were classed as poor performers in a closely watched list of investment product returns, underlining the tumultuous impact of the coronavirus pandemic on stock markets. The twice-yearly “Spot the Dog” list compiled by wealth manager Tilney Bestinvest, which names and shames the worst performing investment funds, reported a 65 per cent
Birmingham, the UK’s second-largest city, has been hit with new coronavirus restrictions, following a surge in infections both locally and nationally. From September 15, residents in Birmingham, and its neighbouring boroughs of Sandwell and Solihull — an area home to 1.6m people in total — will be unable to meet people from other households indoors
If you’re just getting started in real estate investing, don’t expect to become an expert overnight. Yes, it’s true that you can make money buying and selling properties. However, it takes knowledge, determination, and skill. It also helps to know some of the classic mistakes that others make when they start investing in property to
Citigroup CEO Michael Corbat said that he is retiring in February after eight years leading the bank, and that the firm’s retail banking chief Jane Fraser will succeed him, making her the first female CEO of a major U.S. bank. Corbat’s move finalizes a management overhaul that had been underway at the third-largest U.S. bank
French billionaire Patrick Drahi has offered €2.5bn to buy out minority shareholders in Altice Europe and take the indebted telecoms company private. Mr Drahi already owns 77.6 per cent of the Amsterdam-listed group’s shares and approached its independent board members in August over a buyout, the group said on Friday. The cash offer from Next
Sterling steadied on Friday as fears over a disorderly Brexit returned to the fore, as risks mount that the UK will renege on its withdrawal agreement with Brussels. The UK currency added 0.3 per cent against the dollar at $1.2842 in early Friday trading. The pound has tumbled more than 3 per cent this week
Finally attaining the home of your dreams—or any home—doesn’t mean it will be safe from foreclosure. A crisis could come that puts you at risk for foreclosure, especially if your dream house entails big mortgage payments. If your home is at risk of foreclosure, the problem should be addressed immediately—one wrong move could spell disaster.
A person wears a protective face mask while carrying grocery bags outside Trader Joe’s on August 11, 2020 in New York City. Noam Galai | Getty Images Goldman Sachs economists said they see third quarter GDP growth tracking at 35%, driven in large part by the surprising strength of consumer spending. Goldman said its tracking
Guy Gaeta is normally surrounded by dozens of foreign backpackers, busily picking cherries and chatting away in several different languages. But this harvest his orchards remain worryingly quiet after the world’s toughest Covid-19 travel restrictions caused a shortage of workers. “If we can’t get the backpackers in then the horticulture industry will be brought to
Working from home sent shares of the connected fitness group Peloton to a record high in after-hours trading. Peloton said revenues in the three months ending June 30, its fourth fiscal quarter, grew 172 per cent from a year ago to $607.1m. A sell-off in US stocks resumed on Thursday, as Congress failed to make
Gaming in the form of video games, eSports, and online gambling has soared in popularity as users worldwide stay at home due to the COVID-19 pandemic. Investors seeking exposure to this trend can find several exchange-traded funds (ETFs) that hold baskets of gaming stocks. These gaming ETFs include funds that hold stocks for video games
CNBC’s Jim Cramer on Thursday praised the appointment of Jane Fraser as the next chief executive office of Citigroup, making her the first woman to lead a U.S. megabank. “The glass ceiling in banking maybe is finally cracking,” Cramer said on “Squawk on the Street.” Citi is the third-largest U.S. bank by assets. Fraser is set to
Brussels told the UK on Thursday to immediately scrap its plans to override Britain’s Brexit treaty or face legal action, in a sharp escalation of the two sides’ dispute over the measures. In a terse statement, the European Commission handed Britain a deadline of the end of September to withdraw its planned internal market bill.
Wildfires continued to wreak havoc along the US west coast on Thursday as firefighters battled about 100 major blazes that have so far claimed the lives of at least seven people, authorities said. Oregon, California and Washington state have all been heavily affected by what is already a record-breaking year, even before what is regarded
The health of the financial services sector is integral to the overall level of global economic activity. For this reason, the major macroeconomic indicators are also very important pieces of data for the outlook of this sector. Financial services companies rely on high levels of business activity to generate revenue because they act as the
The foreign ministers of China and India are due to meet on Thursday in a bid to defuse the military stand-off along their disputed Himalayan border. S. Jaishanakar, India’s foreign minister, will hold talks with Wang Yi, his Chinese counterpart, in Moscow just days after the countries accused each other of firing the first shots
For restaurants, Monday is traditionally the quietest day of the week. In the past, restaurateurs have tried to combat this, but with little real success. Some, for example, have offered free corkage, converting their places into bring-your-own-bottle establishments for the evening — a tactic that may increase the number of diners but at a price,