Import duties on steel, introduced by US President Donald Trump, have increased spending of American companies on the metal to the record highs, says Ford Motor Co. “Steel in the United States is more expensive than anywhere else in the world,” said Ford Global Operations President Joseph Hinrichs at an event on Monday. According to the top manager, the automaker is discussing this issue with...

More than 80 million passenger cars were produced in the world in 2017. Below we describe five countries which produce the most cars. 1. China Vehicles manufactured in 2017: 23,554,031 Automobile production in China grew, but only slightly - by only 4.4%, in 2017. In general, production reached 23.6 million vehicles. Nevertheless, China remains leader in the production of passenger cars in...

Everyone has become accustomed to the fact that fashionable clothes of leading European brands are made in Asia - mainly in China, as well as in Bangladesh, Vietnam, Myanmar and other countries with cheap labor. The main production facilities of the textile and clothing industry, which had been forming foundations of the European economy for centuries, moved there by the end of the 20th century....

European banks poorly comply with anti-laundering requirements, which could lead to a new wave of large fines and downgrades of credit institutions, as it was in 2010–2012, says a recent review by the international rating agency Standard & Poor's “Déjà Vu All Over Again: Money-Laundering And Sanctions Woes Continue To Haunt Europe's Banks”. At the same time, the agency says that there’s a...

Analysts of the Danish Saxo Bank expect increased uncertainty in the currency and commodity markets in their macro forecast for the fourth quarter of the year, especially because of the increasing interference of politicians in the market processes. Nevertheless, the experts are waiting for a quick slowdown in the growth of the American currency and hope that the EU will be able to cope with the...

Transformation of the world monetary system calls into question the hegemony of the American dollar, which has lasted for decades. Can gold protect investors from shocks associated with de-dollarization? A thesis that the global monetary system is ripe for conversion into a multi-currency one sounds increasingly often nowadays. Some countries are preparing to move from discussions to practical...

German commercial banks have urged the leadership of the European Central Bank (ECB) to change their attitude to interest rates in the near future. "We can only ask the ECB to remove negative interest from the market as soon as possible," said Hans-Walter Peters, Chairman of the Federal Association of German Banks (BdB), at the annual meeting of the International Monetary Fund (IMF) in Bali. A...

According to an annual report on the development of intellectual production in China, the size of the market of intellectual production in the country reached 106 billion yuan in 2016, an increase of 18.4% compared with the previous year. The output of industrial robots in 2017 increased by 68.1% compared with the previous year and exceeded 130 thousand units, which is one third of the world...

The International Energy Agency (IEA) said that global oil supplies look "sufficient at the moment" after a significant increase in production over the past six months. However, the oil industry is under pressure because it is facing increasing global demand. The reserve capacity for oil production in the world has already decreased to 2% of world demand, and it is likely that there will be a...