By Stefan Steinberg, 4 October 2016
While the latest outbreak of transatlantic hostilities revolves around the perilous state of Deutsche Bank, it is not the only bank facing collapse.
By Nick Beams, 1 October 2016
The contradiction between booming financial markets and intractable slump in the underlying economy is assuming an ever more explosive form.
By Ulrich Rippert, 30 September 2016
Following the plunge in Deutsche Bank’s share price to its lowest level since 1983, Germany’s second largest bank, Commerzbank, has announced a major restructuring.
By Nick Beams, 29 September 2016
Both the World Trade Organisation and the International Monetary Fund warned of an increase in protectionist measures alongside a fall in the rate of world trade growth.
By Jessica Goldstein, 29 September 2016
The announcement of mass layoffs at the largest employer in the US comes amid a wave of cuts in the retail industry.
28 September 2016
By Gabriel Black, 28 September 2016
A special report in the Economist magazine warns of a return to the type of economic and political conditions that produced the 1917 Russian Revolution.
By Nick Beams, 27 September 2016
The turmoil surrounding Deutsche Bank is only the sharpest expression of a crisis gripping the whole of the European banking system.
By Douglas Lyons, 26 September 2016
A recent report underscores the economic decline workers have experienced over the past half century while the super-rich carried out a “radical redistribution” of wealth.
23 September 2016
By Nick Beams, 22 September 2016
Global stocks rallied as the Organisation for Economic Co-operation and Development revised down its global growth estimate, citing weak trade growth and lower productivity.
By Nick Beams, 20 September 2016
Amid signs of increased volatility, the Bank for International Settlements issued another warning that financial markets rely too much on central banks.
By Gabriel Black, 17 September 2016
Carrie Tolstedt has made tens of millions overseeing massive consumer fraud as Wells Fargo’s Vice President for community banking.
17 September 2016
By Patrick Martin, 15 September 2016
The Obama administration and the Democratic Party have seized on the latest Census Bureau report as support for their bogus claims of a genuine economic recovery.
By Nick Beams, 15 September 2016
The ensuing eight years have shown that the financial crisis of 2008 was not a conjunctural downturn but a breakdown in the very foundations of the global capitalist economy.
By Nick Beams, 13 September 2016
There are warnings that the rise in bond prices could turn into a rout with significant losses for investors.
By Toby Reese, 12 September 2016
The appointment of a number of new academics and scientists to the University of California, San Diego’s (UCSD) Contextual Robotics Institute is bound up with the US drive to war.
By Nick Beams, 9 September 2016
The European Central Bank has kept its monetary policy on hold but there are growing concerns about what it can do as deflationary pressures continue.
By Nick Beams, 9 September 2016
Questions are sure to asked as to how a bank, supposedly with tight internal controls and reviews, did not know about the creation of two million fake accounts.
By Ben McGrath, 9 September 2016
The company’s financial problems are a further indication of the economic instability facing the world economy.
By Mike Head, 7 September 2016
The corporate discontent with the prime minister’s performance is mounting amid falling business investment and stagnant retail sales.
By Nick Beams, 6 September 2016
At the conclusion of the summit, IMF managing director Christine Lagarde also addressed these issues warning that economic growth had been “too low for too long for too few.”
By Nick Beams, 5 September 2016
It is a sure sign of the deepening malaise of the global capitalist economy, afflicted by lower growth and falling trade, that “overcapacity” in steel was at the very centre of the G20 economic agenda.
By Douglas Lyons, 5 September 2016
Harley-Davidson has recently announced approximately 200 workers will be laid off due to declining profits.
By Shelley Connor, 3 September 2016
The publication of a lackluster jobs report by the Labor Department followed the announcement by Wal-Mart that it plans to slash 7,000 jobs.
By Nick Beams, 2 September 2016
International Monetary Fund managing director Christine Lagarde has said the world economy could suffer from “disappointing growth for a long time to come.”
“The union is letting the company do what it wants”
By Shannon Jones, 1 September 2016
In a not so veiled warning, Fiat Chrysler CEO Sergio Marchione told Jefferson North workers last week that the status of their facility is up in the air.
By V. Gnana and Alex Lantier, 31 August 2016
As France demanded an end to talks on the TTIP trade deal, the EU said it would levy a €13 billion fine on Apple, a move the US Treasury said could damage US-EU ties.
By E.P. Bannon, 31 August 2016
The Obama bull market is the product of years of pro-corporate, anti-working class policies, including the bailout of the banks and attacks on wages and benefits.
By Nick Beams, 30 August 2016
With the business cycle set to enter a “dangerous” phase, central bankers are concerned that interest rates are already so low they will not be able to counter any economic downturn.
By Niles Niemuth, 27 August 2016
According to an International Labor Organization report, the number of unemployed young people ages 15 to 24 will rise to 71 million this year.
No end to central bank subsidies for financial markets
By Barry Grey, 27 August 2016
Yellen all but acknowledged that low levels of economic growth and extreme financial instability were permanent features of the US and world capitalist economy.
By Nick Beams, 26 August 2016
The central bankers and financial authorities gathered at Jackson Hole have no economic answer to the crisis of the profit system over which they preside.
By Gabriel Black, 25 August 2016
The former vice-president accused the SEC of not prosecuting leading bank officials because of the incestuous relationship between the bank and the ostensible watchdog.
By Nick Beams, 19 August 2016
Underlying the divisions in the Federal Reserve is the lack of any clear understanding of where the US economy is heading.
By Barry Grey, 19 August 2016
So far this year, American technology companies have eliminated 63,000 jobs.
By John Braddock, 17 August 2016
Led by falling commodity prices and sharp declines in the Pacific’s largest economies, growth across the region will fall sharply in 2016.
By Nick Beams, 16 August 2016
The rise in the markets and the underlying weakening of the real economy are interconnected phenomena as finance seeks to accumulate profits through parasitism.
By Nick Beams, 15 August 2016
The move by the Bank of England to undertake further “quantitative easing” has led to even more speculation in financial markets, as the underlying economy worsens.
The impact of financial parasitism
By Barry Grey, 13 August 2016
The surge in stock and bond prices has come amid mounting indications of stagnation in the real economy and a worsening social crisis.
By Shannon Jones, 13 August 2016
Ford, General Motors and Toyota recorded sales declines in July.
By Saman Gunadasa, 13 August 2016
The IMF regards Sri Lanka’s state-owned enterprises as a burden on the economy as well as a potential source of profit for investors.
By Patrick Martin, 12 August 2016
The largest US department store chain announced it would close 100 stores, which will likely eliminate more than 12,000 jobs.
By Andre Damon, 11 August 2016
Behind the continuing slump in productivity and business investment is an immense growth of financial speculation.
By Patrick Martin, 10 August 2016
Both Clinton and Trump are fully committed to increasing the wealth of the corporate and financial elite at the expense of working people.
By Evan Winters and Jerry White, 10 August 2016
The USW's calls for tariffs against “foreign steel” and its nationalist agitation against China are aimed at dragooning workers into supporting US imperialism’s preparations for war.
9 August 2016
By Nick Beams, 8 August 2016
The decision by the Bank of England to take “exceptional” financial measures reflects the worsening outlook for the global economy.
By Shannon Jones, 6 August 2016
A closer look at the employment numbers for July reveals many indications of continuing economic stagnation and deepening hardship for wide layers of the population.
By Barry Grey, 5 August 2016
The rate cut, together with other measures announced by the bank, will pump 170 billion pounds ($223 billion) into the UK’s financial markets.
4 August 2016
By Gabriel Black, 3 August 2016
Declining household income and rising rent prices are preventing workers and young people from owning homes.
By our reporter, 2 August 2016
The continued slump in the real economy is in marked contrast to the ongoing and ultimately unsustainable speculative frenzy on international share markets.
By Tom Eley, 1 August 2016
Second-quarter gross domestic product figures for the US and Europe show a further slowing in economic growth and business investment.
By George Gallanis, 1 August 2016
The third round of layoffs in 2016 raises the total number of workers cut by Deere in the US to 2,000 over the last two years.
29 July 2016
By Shannon Jones, 23 July 2016
The auto company confirmed that it is under investigation by both the SEC and the FBI for an alleged scheme to pad its monthly sales totals.
By Terry Cook, 23 July 2016
The job cuts further highlight the impact of falling commodity prices and declining demand in China and throughout Asia.
By Buster Haycook, 22 July 2016
Years of cuts in state funding for public colleges and universities have driven up tuition and have led to faculty reductions, fewer course offerings and campus closings.
By Nick Beams, 21 July 2016
The IMF has warned of the possibility of a “severe scenario” for Europe if financial conditions tighten and consumer confidence falls.
By Gabriel Black, 16 July 2016
A new report from McKinsey Global Institute finds that for most people in the advanced capitalist countries there has been no recovery from the 2008 Wall Street crash.
By Nick Beams, 15 July 2016
Members of the G20 were responsible for more than 80 percent of protectionist measures in 2015.
By Gabriel Black, 15 July 2016
The House Financial Services Committee report makes clear that the Obama administration’s failure to hold criminally liable a single leading Wall Street figure is the result of a highly conscious and systematic policy.
By Nick Beams, 12 July 2016
With all efforts to return global economic growth to pre-2008 levels having failed, the ruling class’s economic theorists have turned to the promotion of protectionism and nationalism.
By Tom Hall, 9 July 2016
The number of people counted as unemployed actually increased by 347,000, a higher figure than the number of jobs added.
By Nick Beams, 8 July 2016
International Monetary Fund head Christine Lagarde warned against the dangers posed by the prospect of a “wave of protectionism.”
By Nick Beams, 7 July 2016
The suspension of cash redemptions by six property investment firms in Britain could set off a crisis extending to the banking system.
By Saman Gunadasa, 6 July 2016
The British vote threatens to exacerbate Sri Lanka’s balance of payments crisis and deepen the widespread discontent over the government’s austerity measures.
By Nick Beams, 4 July 2016
Bank of England Governor Mark Carney has warned of “economic post-traumatic stress” hitting financial markets, businesses and households.
By Patrick Martin, 2 July 2016
Average incomes of the top 1 percent rose twice as fast as the incomes of the remaining 99 percent of Americans in 2015.
By Nick Beams, 30 June 2016
The Brexit outcome has revealed acute problems in the “quantitative easing” program that the world’s major central banks have used to sustain the global financial system over the past eight years.
By our reporter, 30 June 2016
The layoffs, which will hit workers in Michigan, North Carolina and Japan, are just the beginning of the bloodletting being prepared by the merging chemical giants.
By Alexander Fangmann, 29 June 2016
Many parts of state and local government will soon run out of money as the Democratic-controlled state legislature and the Republican governor continue wrangling over how to slash public services.
By Nick Beams, 28 June 2016
British government leaders have issued statements claiming they have the situation under control, but to no avail as financial markets continue to plummet.
By Andre Damon, 27 June 2016
The ongoing sell-off in global financial markets comes amid a chorus of warnings by international institutions that the world economy faces a deepening crisis.
By Andre Damon, 25 June 2016
The British pound plunged to a 31-year low, European stock markets crashed and US markets erased their gains for the year following the Brexit vote.
Reports document social crisis
By Patrick Martin, 23 June 2016
Two reports issued over the past week shed light on the deepening social crisis in the United States and the deteriorating economic position of the working class.
By Nick Beams, 23 June 2016
The IMF’s latest report on the US economy highlights “pernicious” tendencies that will impact heavily on growth and economic well-being.
By Andre Damon, 22 June 2016
The World Trade Organization warned that protectionist measures by leading economies has hit the highest level on records dating back to 2009.
By Nick Beams, 17 June 2016
Fed chairwoman Janet Yellen’s comments on Wednesday pointed to the emergence of “secular stagnation” in the global economy, a term first developed in the 1930s.
By Nick Beams, 16 June 2016
The Fed decision to keep interest rates on hold is an expression of the fact that what were once considered “normal” operations of the capitalist economy are breaking down.
By Nick Beams, 14 June 2016
The IMF has described rising corporate debt in China as the key “faultline” in its economy, amid concerns it could have major “spillover” effects internationally.
By Barry Grey, 8 June 2016
The response of markets to signs of economic distress and signals that the Fed will keep cheap credit flowing was typical of the period since the financial crash—relief and exultation.
By Evan Blake, 4 June 2016
The US economy added only 38,000 jobs in May, the fewest since 2010, in another indication of the persistent slump gripping the US economy.
By Nick Beams, 4 June 2016
The global economy is increasingly marked by the return of the types of economic nationalism that had such devastating consequences in the 1930s.
By Nick Beams, 3 June 2016
The decision by the US International Trade Commission to launch an investigation into 40 Chinese steel producers has far-reaching implications.
By Niles Niemuth, 2 June 2016
The mortality rate in the United States increased across the board last year, reflecting the impact of mass unemployment, austerity, stagnating wages and benefit cuts.
2 June 2016
By Gabriel Black, 31 May 2016
Rent and housing costs in major cities have skyrocketed since the financial crisis, cutting into workers’ living standards and prompting concerns about a global housing bubble.
By Nick Beams, 28 May 2016
Falling investment and declining productivity threaten to trap the US economy in what commentators are calling a “low-growth mode.”
By Nick Beams, 27 May 2016
The G7 nations are seeking to ramp up military pressure against China, amid a deepening economic slump and divisions within their own ranks.
By Nick Beams, 25 May 2016
The aim of the “structural reforms” demanded by the IMF and the financial elites is the destruction of all the social gains of the European working class won in the past seven decades.
By Nick Beams, 23 May 2016
As with other major economic summits in the recent period, the weekend meeting of the G-7 could reach no agreement on co-ordinated measures to halt the stagnation of the global economy.
By George Gallanis, 21 May 2016
The announcement by Sports Authority (SA) follows a wave of recent closures from other retail companies.
By Nick Beams, 18 May 2016
The IMF has reported that one sixth of Chinese business loans are on the books of companies earning less revenue than their interest payments.
By Barry Grey, 17 May 2016
The slump in major chain store sales reflects the impact of a vast reordering of class relations in the US with devastating consequences for the working class.
By Samuel Davidson, 16 May 2016
East Cleveland, a suburb of Cleveland, Ohio, is seeking permission to file for bankruptcy.
By Niles Niemuth, 11 May 2016
The top hedge fund managers made more in a year than the cost of replacing all lead pipes in Flint, Michigan and fixing the city’s poisoned public water system.
By Barry Grey, 7 May 2016
In typical fashion, President Obama and others in his administration attempted to present the April jobs report as a positive vindication of their economic policies.