Trump Vows to Undo Obama Actions, Paris Deal in Energy Speech
published May 26th 2016, 4:27 pm, by Brian Wingfield (Bloomberg) — Republican presidential candidate Donald Trump said he would rescind “job-destroying” Obama administration environmental actions within 100 days of taking office and cancel a landmark international climate deal reached last year in Paris. “His policy is death by a thousand
Bernie Sanders Grows Pro-Pot During California Primary Swing
published May 25th 2016, 4:42 pm, by Terrence Dopp (Bloomberg) — Bernie Sanders is turning to marijuana to bolster his credentials in California ahead of the crucial Democratic primary there. The Vermont senator told a rally in beach-front Santa Monica that he would vote yes on an initiative proposed for
A Rearguard Action by Saudi Arabia to Stop Iran’s Economic Rise
published May 25th 2016, 6:01 pm, by Ladane Nasseri and Glen Carey (Bloomberg) —Saudi Arabia couldn’t stop the Iran nuclear deal from being signed. Plan B is to limit Iran’s ability to reap its benefits. QuickTake Iran’s Nuclear Program The kingdom is mobilizing its Gulf allies to make sure that,
U.S. Stocks Rise Amid Optimism Economy Can Handle Higher Rates
published May 25th 2016, 3:29 pm, by Oliver Renick (Bloomberg) — U.S. stocks posted the strongest two-day rally in nearly three months, as signs of a stronger economy spurred speculation it can withstand higher interest rates. Banks in the S&P 500 led Wednesday’s move, reaching their highest level since Jan.
Stocks Climb as Financial Shares Lead Gains; Dollar Strengthens
published May 24th 2016, 11:42 am, by Inyoung Hwang and Oliver Renick (Bloomberg) — U.S. stocks joined a rally in European shares as growing conviction that the Federal Reserve will raise interest rates this summer sparked gains in financial shares. The dollar rose and Treasuries fell as housing data reinforced
Israel’s Once-Thriving Economy Is Catching Up on Falling Behind
published May 24th 2016, 4:00 pm, by David Wainer (Bloomberg) — As most developed countries reeled from housing busts and collapsing financial systems in the wake of the 2008 financial crisis, Israel defied the chaos with strong annual economic growth, a stable financial system and robust exports. It’s since caught
Saudi Culture Exports Extremism, Former 9/11 Commissioner Says
published May 24th 2016, 4:13 pm, by Nafeesa Syeed (Bloomberg) — A former U.S. lawmaker who served on the commission that investigated the Sept. 11 attacks said there’s a “glaring contrast” between Saudi Arabia’s high-level cooperation in uncovering terrorist plots and its “society and culture exporting extremism and intolerance.” The
Purge Survivor Returns to Favor to Revive North Korean Economy
published May 23rd 2016, 5:00 pm, by Sam Kim (Bloomberg) — Kim Jong Un is looking to one of North Korea’s more experienced technocrats — who once narrowly escaped being purged — to revive the economy in the face of punishing international sanctions. Kim this month named prime minister Pak
China Poses a Threat, Just Not the One Trump Thinks: Tom Orlik
published May 23rd 2016, 6:00 pm, by Tom Orlik (Bloomberg View) —Both Hillary Clinton and Donald Trump have propelled their campaigns in part by appealing to globalization’s losers. The blue-collar American workers who have seen wages shrink and jobs disappear offshore have responded strongly to Trump’s China-bashing and Clinton’s newfound
Chicago Reaches Plan to Shore Up Its Smallest Pension Fund
published May 23rd 2016, 6:50 pm, by Elizabeth Campbell (Bloomberg) —Chicago Mayor Rahm Emanuel reached an agreement with unions on a way to shore up the smallest of the city’s struggling pension funds, saying it would create a “path to solvency” after a previous overhaul was struck down by the