Markets & Industries
Analysts: Wine production jumped in 2018 - 04/12/2019
In 2018, the world produced a record volume of wine in 15 years: according to the International Organisation of Vine and Wine (OIV). Compared with the previous year, the figure jumped by 17%. A total of 292.3 million hectoliters were produced, or 39 billion bottles. The indicator was better than the October OIV forecast. It assumed a growth of 12% compared with 2017, when it had the worst harvest...
IEA: Oil market is regaining balance - 04/12/2019
Global supply of oil in the world decreased in December by 340 thousand barrels per day (bpd), the International Energy Agency (IEA) calculated. By November last year, the figure fell by 3.1 million bpd (to 99.2 million bpd). However, year-on-year growth was still positive (plus 530 thousand bpd). According to the agency’s forecast, in 2019 an increase in production by non-cartel countries will...
IMF: Global economic growth is slowing down - 04/10/2019
A cyclical slowdown in developed countries will lead to a slowdown in the global economy in the coming years. In 2019 its growth will be only 3.3%, predicts the International Monetary Fund (IMF). The fund lowered the growth expectations both in the US and in major European economies. In China, it will also slow down, but the IMF does not expect Washington to raise tariffs on Chinese imports....
M&A growth prompts a surge in collective action in the US - 04/08/2019
In 2017–2018, the number of lawsuits that shareholders filed against their companies increased sharply in the United States. There were an average of 200 collective claims from shareholders from 1997 to 2017, but in 2017 and 2018 there were more than 400 of them. Experts point out that the growth could be prompted by claims about violation of rights of shareholders during mergers and acquisitions...
Saudi Arabia to stop selling oil in dollars - 04/05/2019
Saudi Arabia threatens the US with selling its oil in currencies other than the dollar if Washington adopts a bill exposing OPEC members to antitrust lawsuits in the US, Reuters reports, citing three sources familiar with the situation. According to the agency interlocutors, this option has been discussed in recent months by high-ranking Saudi officials in the energy sector. Two sources said the...
US watchdogs warns synthetic diamonds manufacturers against false advertizing - 04/04/2019
The US Federal Trade Commission (FTC) warned manufacturers of synthetic diamonds about the need to disclose full information about the process of growing the gems in the laboratory so that users do not have a false impression of the product’s natural origin. The FTC, which is responsible for investigating allegations of dishonest advertising, has sent such notifications to eight companies in the...
WTO lowers global trade growth forecast - 04/03/2019
The growth rate of world trade in the next two years will be significantly lower than the average for the postcrisis period. The key factors behind the slowdown will be protective duties introduced within trade wars, as well as uncertainty in the global economy, the World Trade Organization (WTO) states. In 2018, the nominal volume of world supplies grew by 10% (primarily due to higher prices for...
ICOs raise $ 118 million in Q1 2019 - 04/02/2019
Startups attracted only $ 118 million in the first quarter through primary placement of cryptocurrency tokens (ICO), reports The Wall Street Journal, citing data from TokenData. For comparison: they attracted $ 6.9 billion for the same period a year earlier. This is another sign of the decline in the popularity of cryptocurrency. Investors are discouraged by new regulations against ICOs, spread...
Analysts note the longest fall in London real estate prices since 2009 - 04/01/2019
Analysts recorded the most noticeable drop in real estate prices for many years in London and England against the backdrop of a political crisis and uncertainty due to the UK leaving the EU. According to Nationwide Building Society, in the first quarter of 2019 property prices in England fell by 0.7% on an annualized basis compared to the same period in 2018. For England, this is the first...
US refineries find replacement for Venezuelan oil - 03/28/2019
Sour crude oil from Shell and BP platforms in the Gulf of Mexico will replace Venezuela’s heavy oil in many US refineries. Now they need alternative sources of oil after the US sanctions were imposed on the Venezuelan oil industry, reports Reuters. BP and Shell are also major operators and manufacturers in the US Gulf of Mexico. Their crude oil is purchased by US refineries, with preference being...
