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Economics News

Brexit uncertainty for pharmaceutical companies

Of the different sectors of the British economy affected by the U.K.’s impending exit from the European Union, the pharmaceutical sector is one of the most significant. This relates to the value of the market and the regulatory impact.

New funding for Canadian technology 'superclusters'

Toronto - Clusters of companies with similar goals helps drive innovation through collaboration and competition. This is the idea behind Ottawa's new 'superclusters', with supporting funding coming from the Canadian government.

Australia's rooftop solar boom records best January ever

Rooftop solar installations in Australia are booming, with more than 110MW of registrations completed in January – a 69 percent increase on the previous January. Solar farm approvals and rooftop installations are expected to "turbo-boost" production.

Trump hails 'great relationship' with UK's May

Davos - US President Donald Trump boasted of a "really great relationship" with British Prime Minister Theresa May on Thursday, as the pair traded compliments and tried to turn the page after very public spats.

Japan's Abe seeks to drum up EU pressure on North Korea

Sofia - Japan's Prime Minister Shinzo Abe sought to drum up EU pressure on North Korea on Sunday in Sofia, while pledging to boost economic cooperation with Bulgaria and the Balkans.

Marvel or mishap? Hong Kong's troubled mega bridge

Hong Kong - Billed as the world's longest sea bridge connecting Hong Kong, Macau and mainland China, it has been touted by supporters as an engineering wonder.

Venezuelans vote in crucial regional elections

Caracas - Millions of Venezuelans voted peacefully in regional elections on Sunday following months of violent protests earlier this year aimed at unseating President Nicolas Maduro.

US's Thaler wins Nobel for 'making economics more human'

Stockholm - US economist Richard Thaler won the Nobel Economics prize on Monday for showing that economic and financial decision-makers are not always rational, but mostly deeply human.

Richard Thaler of US wins Nobel Economics Prize

Stockholm - US economist Richard Thaler on Monday won the Nobel Economics Prize for his pioneering work bridging the gap between economics and psychology, the jury said.

Outsiders challenge Chicago school for Nobel economics prize

Stockholm - The 2017 Nobel season wraps up Monday with the economics prize, which could this year honour fields rarely awarded by the committee, such as development economics or French economist Esther Duflo's research on poverty.

Myanmar's conflict-hit Rakhine a magnet for Chinese cash

Bangkok - Battered by global outrage over an army crackdown on Rohingya Muslims, Myanmar has found comfort in an old friend –- China, an Asian superpower whose unflinching support is tied to the billions it has lavished on ports, gas and oil in violence-hit Ra...

AI revolution will be all about humans, says Siri trailblazer

Hong Kong - It's 2050 and the world revolves around you.From the contents of your fridge to room temperature -- digital assistants ensure your home runs smoothly. Your screens know your taste and show channels you want to see as you enter the room.

Op-Ed: Nuclear power is losing ground but it still needs our support

Nearly a decade ago, planning began for two new nuclear power plants in eastern Georgia. But as of this week, the two plants have yet to be built, and another pair of utilities in South Carolina canceled construction on two nuclear reactors.

The realities of scarce water resources around the globe

Water is the one resource that all life on Earth needs to survive - That's a fact. However, water has taken on a greater role, and not just in the political and economic scheme of things, but in how it is intertwined into the very fabric of our lives.

'Disintegrating' EU has nothing to celebrate: Varoufakis

Rome - The EU is falling apart so quickly it might not last another decade, Greece's former finance minister Yanis Varoufakis said Friday as leaders descended on Rome for the bloc's 60th birthday party.

Fantasy league aims to lure US students to economics

Washington - Have you needed to use your high school chemistry recently? Anyone asked you lately who won the US-British war of 1812? Probably not. But have you taken out a loan to purchase a car or a house or go to college? Looked for a job? Got a credit card?

Secret lives of wasps revealed by biologists

New social patterns relating to the social behaviors of wasps have been revealed. Biologists have found that wasps have trading partners and compete for the 'best trade deals.

Author John Perkins points to 1976 as pivotal year economically Special

No doubt, the U. S. economy is on everyone's mind now that the presidential election is over. Yet as author John Perkins noted, "the fact that someone outside the status quo was elected, says people want change."

Italy row with Brussels escalates, PM lashes 'diktats'

Rome - Italian Prime Minister Matteo Renzi lashed out Tuesday over Brussels' "diktats" in the latest attack on the European Commission ahead of a referendum that could decide his political future.

Economics Nobelist Holmstrom: CEO pay 'just a mess'

Washington - Bengt Holmstrom, the Finnish economist whose contract theory research earned him a Nobel economics prize Monday, said that executive compensation has gotten out of hand, and contributed to the collapse of Enron Corp.

'Contract theory' earns pair Nobel Economics Prize

Stockholm - Two US-based academics won the Nobel Economics Prize on Monday for groundbreaking research on contract theory that has helped design insurance policies, executive pay and even prison management.

World Bank's top economist tipped for Nobel

Stockholm - The World Bank's new chief economist is among those tipped to win the Nobel Economics Prize on Monday, as the awards season moves into a second week.

Lancome concert cancellation good for business: Chinese media

Bejing - Cosmetics giant Lancome showed "wisdom" in cancelling a Hong Kong concert featuring a local activist, a nationalistic Chinese paper said Tuesday, warning that political disagreements with the mainland made for bad business.

Nigeria must devalue its currency to aid ailing stock market

Nigeria must devalue its currency in 2016, according to international investors and ratings agencies. The country's currency, the naira, is heavily protected.

Abandon coal, oil or face climate disaster, Davos experts warn

Davos - Humanity must stop burning coal, oil and gas to power the global economy or face an irreversible climate catastrophe, scientists, business chiefs and analysts warned at an elite gathering in the Swiss Alps.

LNG terminal off coast of N.J. and N.Y. may have unwanted effect

Liberty Natural Gas LLC is hoping to build a deepwater LNG terminal off the coast of New Jersey and New York. Plans for the terminal, known as Port Ambrose, have been met with criticism from environmentalists who say it is dangerous and unnecessary.

EU should prepare for Greece default, German official says

Berlin - European Union nations should prepare for Greece's expected default and departure from the common currency, a German official said Monday.

New study shows many with low credit scores miss out on recovery

The recession and all its woes are supposed to be behind us, right? Yet far too many Americans are still struggling, and low credit scores are forcing them to pay more for core services and turn to high interest financial products.

Op-Ed: Head of NY Fed deserves praise for tough talk on student loans

New York - The head of the Federal Reserve Bank of New York calls out the questionable practice of giving government-subsidized college loans to all comers...without any regard for their ability to perform academically.

Op-Ed: Paul Krugman op-ed about income inequality is a must-read

Widely-known economist Paul Krugman has penned an op-ed in the New York Times asserting that increasing education attainment is not the key to reducing income inequality. Krugman is right on the money...and could save us billions in wasted funds.
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Wikimedia Commons and eia.doe.gov