U.S. emerges fastest growing crude oil producer

The U.S has emerged as the fastest growing crude oil producing region. This is according to the latest data published by Statista, an online statistics, market research and business intelligence portal. According to the research firm, crude oil production in the U.S. is rising and might set a new record in 2019. In April, daily […]

Interest rate cut expectations persists amidst strong U.S. retail sales

Rates

U.S. retail sales increased more than expected in June, pointing to strong consumer spending, however this did not change market expectations that the Federal Reserve will cut interest rates this month. The report from the Commerce Department on Tuesday showed that consumer spending is on the rise and as such, could help to blunt some […]

Virgin Galactic to go public by year end

Billionaire Richard Branson’s space-tourism venture, Virgin Galactic, plans to go public by the end of this year.   This is part of a deal with a special purpose acquisition company (SPAC) created by venture-capital firms Social Capital and Hedosophia, the companies said on Tuesday. The SPAC, Social Capital Hedosophia Holdings Corp, will take a 49 […]

U.S. slaps anti-subsidy duties on fabricated structural steel from China, Mexico

The U.S. has introduced preliminary anti-subsidy duties on fabricated structural steel from China and Mexico. The U.S. imported $658.3 million worth of fabricated structural steel from Canada in 2017, $841.7 million worth from China, and $406.6 million from Mexico.The U.S. Commerce Department made this known in a statement. The department said, “the Department of Commerce […]