Nigeria breaks up state oil company
State-owned oil company of Nigeria to be divided into 30 discrete entities. IMF warned last week the economy may need to reform to address pressures from lower crude oil prices. Continue Reading
China’s Two-Speed Economy
Fushun, a city built on coal in China’s industrial northeast, is in full-blown recession. Liu Junfen, a scrap-metal merchant who gathers discarded bicycles, hubcaps and gas cylinders to feed to Continue Reading
China’s Hard Target for Growth Increasingly Seen as Irrelevant
Every March, China releases a closely watched growth target for the year, a number that looms large for the world’s economists, executives and policy makers. But calls are growing for Continue Reading
China aims to maintain growth pace, fend off unemployment in five-year plan
China faces a tough battle to keep its economy growing by at least 6.5 percent over the next five years while creating more jobs and restructuring inefficient industries, Premier Li Continue Reading
China Lowers Growth Target to 6.5%-7% Range This Year
China gave itself wiggle room in lowering its economic growth target this year, though it still set the pace at a relatively high 6.5% to 7%, suggesting the government prefers Continue Reading
Fukushima Disaster Will Wreak Environmental Havoc for Centuries
A report from Greenpeace reveals that the destruction of ecosystems caused by the Fukushima meltdown is worse than the government lets on. Radiation from the Fukushima nuclear disaster in Japan Continue Reading
US job growth accelerates but wages slip
The US economy added significantly more jobs than expected in February, but wages continued to stagnate, highlighting the dilemma facing the Federal Reserve over when next to raise rates. Friday’s Continue Reading
Mutations, DNA damage seen in Fukushima
Conservation group Greenpeace warned on Friday that the environmental impact of the Fukushima nuclear crisis five years ago on nearby forests is just beginning to be seen and will remain Continue Reading
US gas rig count falls by five to 97 for week ended Friday: Baker Hughes
The US oil rig count fell by eight to 392 in the week ending Friday, down from 922 in the comparable week a year ago, Baker Hughes said in its Continue Reading
Baker Hughes US oil rig count slips to lowest level since 2009 amid crude rally
The US oil rig count slipped another eight rigs this week to 392, Baker Hughes said Friday, amid a rally in crude not seen since the first few days of Continue Reading