In The News

Chinese Stocks Plummet 8 Percent

Scott Cendrowski January 19, 2015
Chinese regulators suspended three large brokerage firms from extending margin accounts – essentially loans – for new clients for three months, and that led the Shanghai market index to plummet by more than 7 percent, the biggest drop in six years, reports Fortune. “The regulator also punished nine different brokerages for allowing unqualified traders to open leveraged accounts, Xinhua reported,...

A Shield That’s Not Required

Nayan Chanda January 15, 2015
Attempts to protect home markets signal a lack of confidence in the business community. A decision by the Modi administration in India “to oblige ministries to procure only locally-built electronic products not only marks a protectionist turn but also undermines the government’s avowed goal of fighting corruption and increasing transparency,” writes Nayan Chanda, editor in chief of YaleGlobal,...

French Warships in Doldrums

Andreas Kuersten January 1, 2015
France signed a contract with Russia in 2011 to build and deliver two warships. Since then, Russia wrested control of Crimea and intervened in Eastern Ukraine. France dearly wanted to complete the deal, but faces intense scrutiny for supplying military hardware and technology to Russia while criticizing actions in Ukraine. “France’s lingering plan to deliver military hardware to Russia while...

Christmas Spending Gone Global

Nathan Siegel December 24, 2014
Early reports suggest that Americans are spending less on Christmas. Typically, the United States spends the most on the holiday, $703 per capita in 2013, and it’s rare when other countries spend more, as Luxembourg did that same year. But such spending does not mean other countries are less enthusiastic about Christmas, notes Nathan Siegel for Oxy: “shoppers in a few countries will spend...

After a Half Century, Thaw in US-Cuba Ties

Mimi Whitefield December 18, 2014
US and Cuban presidents Barack Obama and Raúl Castro issued simultaneous announcements – a start to normalizing ties after 53 years “that could bring more trade, support for Cuba’s nascent entrepreneurs and more open communications with the island,” reports Mimi Whitefield for the Miami Herald. The two countries also exchanged prisoners. “Obama not only said that the U.S. and Cuba would work...

Clouds Over Charities for Refugees in Islamic Countries

Susan Froetschel December 18, 2014
The world has 50 million displaced people, and refugees have little choice but to depend on other countries and their citizens for generosity. Faith-based charities are often among the first to respond to humanitarian crises, notes the UN Refugee Agency, and Islamic faith-based charities are active in Pakistan, Iran, Lebanon, Jordan and Turkey – lead host nations for refugees. Fundraising by...

How Crude Oil’s Global Collapse Unfolded

Russell Gold December 17, 2014
The price of oil has fell from $110 per barrel to about $60 per barrel for a combination of reasons: Increased US oil production has upended global markets; Nigeria once delivered a million barrels a day to the US; that dropped to zero this summer. Now oil-producing nations like Nigeria, Saudi Arabia and Iran hunt for new customers and compete for Asian markets. At the same time, demand lags in...