Iranian oil supplies push prices lower... This issue could be a nightmare on both sides of the Atlantic... World’s 62 richest have as much money as the 3.6 billion poorest...
Iranian oil supplies push prices lower
The lifting of sanctions on Iran by the West has led to a further downward push for oil prices. Benchmark Brent crude is below $29, a price not seen since 2003, WTI is slightly higher. Iran is expected to add 500 million barrels a day to the already over-supplied market.
The decline in oil prices has been accompanied by a further drop in global equities. Asian markets closed mostly lower Monday with Sydney and Tokyo close to joining Shanghai in the bear pit. Tuesday’s session is set to be an interesting one with China releasing data including GDP, retail and industrial production figures.
European markets are also slightly lower so far Monday with oil prices in focus.
Toronto is expected to open lower while Wall Street is closed for Martin Luther King Day.
This issue could be a nightmare on both sides of the Atlantic
A stalemate between the European Union and the United States could lead to a huge nightmare for thousands of companies and individuals on both sides of the Atlantic. The issue is an EU ruling that data being transferred to US servers which contains personal information on EU citizens is not adequately protected from US government snooping. EU law dictates that its citizens’ data must comply with privacy requirements. If the flow of data between the two jurisdictions is disrupted it could create havoc and cost companies billions of dollars.
World’s 62 richest have as much money as the 3.6 billion poorest
The 62 richest people in the world have the same amount of money as the poorest half of the world’s population according to Oxfam. As business leaders and politicians including Canadian PM Justin Trudeau prepare to meet in Switzerland for the World Economic Forum the charity says that the 1 per cent that makes up the richest in the world has overtaken the rest of us faster than expected.
The lifting of sanctions on Iran by the West has led to a further downward push for oil prices. Benchmark Brent crude is below $29, a price not seen since 2003, WTI is slightly higher. Iran is expected to add 500 million barrels a day to the already over-supplied market.
The decline in oil prices has been accompanied by a further drop in global equities. Asian markets closed mostly lower Monday with Sydney and Tokyo close to joining Shanghai in the bear pit. Tuesday’s session is set to be an interesting one with China releasing data including GDP, retail and industrial production figures.
European markets are also slightly lower so far Monday with oil prices in focus.
Toronto is expected to open lower while Wall Street is closed for Martin Luther King Day.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 15,988.08 (-2.39 per cent) | -6.66 per cent | -8.70 per cent |
| TSX Composite | 12,073.46 (-2.13 per cent) | -7.30 per cent | -15.63 per cent |
| Europe (at 6.00am ET) |
|||
| UK FTSE | 5,808.96 (+0.08 per cent) | -4.02 per cent | -11.32 per cent |
| German DAX | 9,541.48 (-0.04 per cent) | -10.06 per cent | -6.16 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,130.73 (+0.38 per cent) | -16.91 per cent | -13.88 per cent |
| Japan Nikkei | 16,955.57 (-1.12 per cent) | -10.70 per cent | +0.54 per cent |
| Other Data (at 6.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 28.62 (-1.11 per cent) |
29.13 (-0.99 per cent) |
1091.60 (+0.08 per cent) |
U$0.6886 |
| Aus. Dollar |
|||
| U$0.6875 | |||
This issue could be a nightmare on both sides of the Atlantic
A stalemate between the European Union and the United States could lead to a huge nightmare for thousands of companies and individuals on both sides of the Atlantic. The issue is an EU ruling that data being transferred to US servers which contains personal information on EU citizens is not adequately protected from US government snooping. EU law dictates that its citizens’ data must comply with privacy requirements. If the flow of data between the two jurisdictions is disrupted it could create havoc and cost companies billions of dollars.
World’s 62 richest have as much money as the 3.6 billion poorest
The 62 richest people in the world have the same amount of money as the poorest half of the world’s population according to Oxfam. As business leaders and politicians including Canadian PM Justin Trudeau prepare to meet in Switzerland for the World Economic Forum the charity says that the 1 per cent that makes up the richest in the world has overtaken the rest of us faster than expected.
