May, 2016

• 26 May

  The Fed’s amazingly accurate forecast

    Narayana Kocherlakota The Federal Reserve’s track record of economic forecasting is a lot better than many observers recognize. It might also offer some insight into the central bank’s approach to managing the recovery. Criticism of the Fed’s forecasting has focused largely on its failure to recognize, as late as mid-2008, the depth and persistence of the recession that the ...

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• 26 May

  Germany and US have different ideas about energy

  

    The share of Germany’s electricity generated from renewable sources has tripled during the past decade, to 30.1 percent. That’s impressive, especially when compared with what has happened in the U.S. On the other hand, the percentage of Germany’s electricity generated by burning coal isn’t all that much lower than it was a decade ago, and is higher than it ...

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• 26 May

  Deal aims to forget Greece, not forgive it

  

    The International Monetary Fund and European finance ministers hailed their new agreement on Greece as a “major breakthrough.” In reality, it’s the beginning of a permanent fudge designed to make the intractable Greek problem a political non-issue for Greece’s EU partners and reduce the financial and reputational risk for the IMF. It’s the equivalent of canceling visitation hours for ...

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• 26 May

  Is China a global force for good?

  

    The existing world order, led by the United States, is one whose aims include collective security, the protection of human rights, promoting negotiation and diplomacy, and improving global welfare. These ideals have been consistent from the League of Nations to goals of the United Nations (UN). Keeping consistent with these aims, we should take a humanist approach when viewing ...

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• 26 May

  Oil tops $50 to lift exporters’ currencies

  

    BLOOMBERG Crude surpassed $50 a barrel for the first time in six months amid signs the global supply glut is coming to an end, buoying currencies where oil is produced. U.S. stocks fluctuated after a two-day rally. A drop in U.S. stockpiles and shrinking output in Nigeria and Venezuela contributed to the gains in Brent, which is up more ...

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• 26 May

  Saudi shares drop despite oil over $50 but Dubai lifted

    DUBAI / Reuters Thursday, but helped carry Dubai’s index higher for a fourth session. Other markets were mixed. The Riyadh index failed to hold on to earlier gains as investors booked profits, snapping two days of gains. Although petrochemical shares remained resilient, with the sub-index advancing 0.3%, it closed 49 points below its intra-day high, a sign that investors ...

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• 26 May

  AirAsia’s net income jumps sixfold

  

    Kuala Lumpur / Bloomberg AirAsia Bhd., Southeast Asia’s biggest budget carrier, reported an almost sixfold jump in quarterly profit amid plans to expand its fleet in a region projected to surpass the US as the world’s biggest air-travel market in two decades, led by China. The Sepang, Malaysia-based company said net income in the quarter through March climbed to ...

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• 26 May

  Solar Impulse lands in Lehigh Valley

  

    Washington / AFP The sun-powered Solar Impulse 2 aircraft landed in the US state of Pennsylvania, completing the latest leg of a record-breaking flight around the world to promote renewable energy. After taking off from Dayton, Ohio early Wednesday, the plane piloted by Swiss explorer Bertrand Piccard arrived at 8:49 pm (0049 GMT Thursday) at Lehigh Valley International Airport after ...

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• 26 May

  Lockheed Martin eyes Tata for India warplane deal

  

    Maryland / Bloomberg Lockheed Martin Corp. is leaning toward the Tata Group as a potential partner to build its flagship F-16 as India looks to modernize an aging fleet of fighter jets. “Naturally we would gravitate to Tata,” George Standridge, Lockheed Martin’s vice president for Aeronautics Strategy and Business Development, said in an interview in New Delhi when asked ...

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• 26 May

  US airlines spend millions to cut airport security lines

  

    New York / Bloomberg US airlines and airports are spending millions on added workers to avoid a repeat of long security lines, as the coming Memorial Day weekend kicks off what’s expected to be a record year for summer travel. “We are concerned for this weekend, where we’ll see higher than normal flight loads,” said Ross Feinstein, a spokesman ...

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