Global Economy

Budget Battles

  • Senator Ben Cardin (D-MD) arrives at Democratic Party caucus meeting on Capitol Hill in Washington, U.S., January 19, 2018. REUTERS/Yuri Gripas/ File Photo

    Factbox: What happens in a U.S. government shutdown?

    By Richard Cowan and Susan Cornwell and Amanda Becker and Richard Cowan and Susan Cornwell and Amanda Becker, Reuters

    In shutdowns, nonessential government employees are furloughed, or placed on temporary unpaid leave. Workers deemed essential, including those dealing with public safety and national security, keep...

  • FILE PHOTO: Senator John Barrasso (R-WY) speaks during a press conference on Capitol Hill in Washington, U.S., September 12, 2017. REUTERS/Joshua Roberts

    No Talk of Ousting Speaker Ryan, Key Conservative Says

    By Reuters

    Many Republicans are unhappy with the deal President Donald Trump reached last week with Democratic leaders to raise the government's debt ceiling and allow it to continue financing federal spending...

  • Venezuela's President Nicolas Maduro waves during a pro-government rally with workers of state-run oil company PDVSA, in Barcelona

    The Crisis in Venezuela Could Send Oil Prices Soaring

    By Nick Cunningham, Oilprice.com

    Venezuela’s deteriorating crisis is “going to be the biggest geopolitical story to watch in the oil markets," according to Helima Croft of RBC Capital Markets. The economic, political and security...

  • FILE PHOTO: Arellano, deputy of the Venezuelan coalition of opposition parties (MUD), clashes with national guards during a rally against Venezuela's President Nicolas Maduro's government in Caracas

    The Risk That Could Drive Oil Prices Higher in a Hurry

    By Nick Cunningham, Oilprice.com

    The latest rally in oil prices ran up against a wall yet again, and the same fears about oversupply have not receded in the slightest. The expectation from most oil analysts is that there is very...

  • Emmanuel Macron, head of the political movement 'En Marche!', or 'Onwards!', and candidate for the 2017 presidential election, delivers a speech as he attends a meeting for Women's day in Paris, France

    France Just Made a Big Move Toward a Green Energy Future

    By Bate Felix and Simon Carraud, Reuters

    France aims to end the sale of gasoline and diesel vehicles by 2040 and become carbon neutral 10 years later, Ecology Minister Nicolas Hulot said on Thursday at a presentation of measures to keep up...

  • An Iranian protester holds a placard with the picture of Shi'ite cleric Sheikh Nimr al-Nimr (top L), who was executed in Saudi Arabia, during a rally after Friday prayers in Tehran January 8, 2016. REUTERS/Raheb Homavandi/TIMA

    How the Saudi-Iran Crisis Could Drive Oil Prices Lower

    By Nick Cunningham, Oilprice.com

    Oil prices jumped on the first trading day of 2016 as Middle East tension outweighed a selloff in financial markets around the world. Oil markets remain oversupplied and depressed, but geopolitical...

  • Investors look on in front of an electronic board showing stock information at a brokerage house in Shanghai March 17, 2015. REUTERS/Aly Song

    Here’s the Problem in China That’s Slamming US Stocks

    By Matt Clinch, CNBC

    It was a very unhappy New Year for equity bulls as a slew of factors helped to curb sentiment Monday, with investors seeking "safe haven" assets. On investors' watch list were heightened geopolitical...

  • Stacked rigs are seen along with other idled oil drilling equipment at a depot in Dickinson, North Dakota June 26, 2015. REUTERS/Andrew Cullen

    As OPEC Loses Control, There’s a New Power in the Oil Market

    By Michael McDonald, Oilprice.com

    As oil prices wallow near multi-year lows, it’s becoming increasingly clear that the new cartel controlling oil prices is not OPEC but world credit markets. From Saudi Arabia’s record $100 billion...

  • 17. Oil Drill Operators

    Oil Prices Slide to 11-Year Low, but OPEC Keeps Pumping

    By AMANDA COOPER, Reuters

    Brent crude oil prices hit their lowest in more than 11 years on Monday, driven down by a relentless rise in global supply that looks set to outpace demand again next year. Oil production is running...

  • Secretary of Defense James Mattis and Secretary of State Rex Tillerson arrive to brief the Senate Foreign Relations Committee on the ongoing fight against the Islamic State on Capitol Hill in Washington, U.S., August 2, 2017. REUTERS/Aaron P. Bernstein

    Obama: Faster Progress Needed Against ISIS

    By Reuters

    U.S. President Barack Obama said on Monday progress needs to speed up against Islamic State militants, calling on allies to increase their military contributions to coalition efforts to destroy the...