Venezuela is running out of cash

Caracas is running out of cash. Venezuela only has $10.5 billion in foreign reserves left, according to its most recent central bank data. For rest of the year, Venezuela owes roughly $7.2 billion in outstanding debt payments. In 2011, Venezuela had roughly $30 billion in reserves. In 2015, it had $20 billion. The trend can’t […]

Kraft withdraws offer to merge with Unilever

U.S. food company Kraft Heinz Co (KHC.O) withdrew its proposal for a $143-billion merger with larger rival Unilever Plc (ULVR.L), the companies said on Sunday, raising questions about Kraft’s next steps and whether it could turn its focus to another target. Kraft had made a surprise offer for Unilever in a bid to build a […]

Trump sons open Dubai golf club

Two of U.S. President Donald Trump’s sons ceremonially opened a Trump-branded golf club in Dubai on Saturday, meeting privately with Emirati elites as questions remain about how separated their father is from the empire bearing his name. Eric and Donald Trump Jr., who now lead the Trump Organization, watched as fireworks lit the sky over […]

Trump administration is ‘complete insanity’ and the markets are in a fantasy land: Stockman : Stockman

Stocks are booming under President Donald Trump, but long-time critic David Stockman warns traders are living in a “fantasy land” that can’t last —and Trump’s policies will derail the market for years to come. The former Reagan administration OMB director appeared on CNBC’s “Futures Now”last week to emphasize that Trump has become seemingly distracted by […]

Billionaire Carlos Slim to launch a Made-In-Mexico electric car

At a time when American auto giants are under pressure to bring back production from Mexico to the U.S., Mexican billionaire Carlos Slim Helu is planning an expansion of his modest presence in Mexico’s auto industry. Giant Motors, controlled by Slim’s financial services conglomerate, Inbursa, is in the process of manufacturing a made-in-Mexico electric vehicle […]

North Korean Economics 101: How Much Is a Dollar Worth?

PYONGYANG, North Korea (AP) — To get a feel for how North Korea’s economy works, go buy a roll of toilet paper. Or start up a mobile phone network. As capitalist-style markets have grown more important in North Korea, so has a market-friendly exchange rate for the much-coveted U.S. dollars, euros and Chinese yuan that […]