‘Austerity and the end of global energy’: Energy sector is on the verge of a historic collapse

The American Petroleum Institute (API) predicted in March that the global oil market would collapse within three years, but the reality is much more dire. “The energy sector is in serious trouble,” API President and CEO Bill Dudley said in an interview with CNBC. In an interview this week, Dudley said that the collapse of the oil

When markets fall, investors can still get some returns

Investors who have been following market movements closely may have noticed a few more signs of weakness this week.As of early Thursday, the Dow Jones Industrial Average was down 8.4 points, or 2.5%, to 14,094.80.The S&P 500 was down 2.3 points, 0.8%, to 2,539.30.On Friday, the Nasdaq was down 5.1 points, 1.4%, to 6,907.75.The Nasdaq

‘We’re in this together’: President Biden’s new budget proposal lays out a plan to boost the economy by boosting government spending

NEW YORK (AP) The President is proposing a $1.5 trillion spending boost to the U.S. economy as part of his latest budget proposal, one that includes a massive tax cut and cuts to military spending.But the details of the plan are still being worked out.President Biden is proposing $1,000 for every person in the U,

Why China’s new nuclear plant is likely to be a bust for the economy

China has unveiled its newest nuclear plant, which will produce up to 400,000 tonnes of radioactive waste a year, a sign that the world’s largest economy is poised to face a crippling economic slowdown and its second-biggest economy, Japan, to face the brunt of the fallout.The project, at the Dongfeng nuclear power plant in eastern

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