Texas power prices surge 6000%
Spot electricity prices in Texas rose more than 60 fold, approaching the $5,000 limit, as the state’s power grid is facing the tightest power supply conditions all summer. The intense…
Domestic company worth more than GDP of an EU state
The popularity of weight-loss drugs among Americans has helped Danish company Novo Nordisk, which makes them, grow its market value to $413 billion, more than its home country’s GDP of…
The sick man of Europe – now it’s out
British magazine The Economist wondered if Germany’s economy is sick. The artwork is also impressive, we might add. The symptoms, according to the magazine, are as follows: ▪️ Europe’s largest…
US mortgage rates jump to 7.09%, highest since 2002
The average rate on a 30-year fixed-rate loan was 7.09%, up from 6.96% last week and the highest since April 2002. Recent increases in credit costs and home prices caused…
China’s hidden financial dangers emerge in shadow banking crisis
Until a week ago, Zhongzhi Enterprise Group was little noticed in China and barely mentioned elsewhere. Shadow banking giant Zhongzhi – a private management company with more than $137 billion…