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Thursday, November 26th, 2020
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Trade

Is OPEC’s House of Cards Going to Collapse?

Two middle eastern men in traditional robes

BLOOMBERG, NOVEMBER 22, 2020 Fewer than half of the OPEC countries that said they would cut production in the last deal, stuck by their word. That’s upset the UAE. By Julian Lee for Bloomberg – All is not well in the house of OPEC. As the cartel’s oil ministers prepare to meet in just over a week to decide on the next step …

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Trump Bails Out on G20 Pandemic Meeting to Golf

President Trump plays golf at Trump National Golf Club in Sterling, Virginia

PortandTerminal.com, November 21, 2020 WASHINGTON – There are reports that President Trump participated in his final Group of 20 summit on Saturday by tweeting throughout the opening session and skipping a special side-conference focused on the coronavirus pandemic.  It was unclear all week whether Trump would even be present for this year’s G20, which is being held virtually because of …

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5 Minute Explainer: What happens now that huge new Asian trade deal has been signed?

Australian Prime Minister Scott Morrison and Prime Minister Yoshihide Suga bump elbows before a welcome ceremony in Tokyo on Nov. 17. © Reuters

REUTERS, NOVEMBER 17, 2020 HANOI (Reuters) – Fifteen Asia-Pacific economies signed what could become the world’s largest free trade agreement on Sunday, covering nearly a third of the global population and about 30% of its global gross domestic product. The Regional Comprehensive Economic Partnership (RCEP) will progressively lower tariffs and aims to counter protectionism, boost investment and allow freer movement …

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New Asian Trade Deal Encompasses Third of the World’s Population

Zoom call with Asia Pacific leaders

BLOOMBERG, NOVEMBER 15, 2020 Trade pact comes after nearly a decade of negotiations | 15 nations including China, Japan and Australia are on board By Philip Heijmans and Xuan Quynh Nguyen for Bloomberg – Asia Pacific nations including China, Japan and South Korea on Sunday signed the world’s largest regional free-trade agreement, encompassing nearly a third of the world’s population and gross domestic …

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Stranded Coal Ships In Crosshairs Of China-Australia Spat

Aerial view of multiple cargo ships at sea

BLOOMBERG, NOVEMBER 12, 2020 Aaron Clark, Kevin Varley and Rajesh Kumar Singh for Bloomberg News At least 20 giant bulk carriers are anchored off the Chinese port of Jingtang and unable to offload millions of tons of Australian coal, the latest casualty of the growing diplomatic row between Canberra and Beijing. Fifteen of the ships have been waiting since June, …

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Canada Leaders Clamp Down on Businesses Again in New Virus Wave

Woman wearing mask in front of red sign saying that masks are mandatory

BLOOMBERG, NOVEMBER 11, 2020 ‘The city is stepping on restaurants’ throats’: Toronto CEO | Trudeau urges premiers and mayors to ‘do the right thing’ By Kait Bolongaro for Bloomberg – Canada is struggling to contain rising Covid-19 infection rates as a second wave engulfs the nation, threatening to stifle an economic rebound that began in summer. Ontario, where nearly 40% of …

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MONEY: Corporate America says it is ready to work with Biden

Traders work the floor of the New York Stock Exchange

REUTERS, NOVEMBER 9, 2020 WASHINGTON (Reuters) – Corporate America says it is ready to work with President-elect Joe Biden, hoping for quick action on a new round of COVID-19 relief and infrastructure spending. Major business trade groups like the U.S. Chamber of Commerce and Business Roundtable quickly issued congratulating statements to Biden, even though President Donald Trump has refused to …

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