Ghana May Be Taxing Petroleum beyond IMF Guidelines


While those in the developed world often complain about the price of petroleum, the markups experienced in nations like the United States and Germany may pale in comparison to the fees charged by a particular developing nation in Africa. 

Spanish Economy Undergoes Superficial Recovery


Barclay’s analysts Apolline Menut and Antonio Pascual dispel the mainline narrative of a Spanish recovery, highlighting long-term unemployment, waning productivity and a high unemployment rate as unsustainable liabilities, according to Business Insider.

The job market gained a great deal of traction in 2015, but analysts note that Spain’s current status would prove catastrophic in other nations. Spain is one of the fastest-growing economies in the European Union, but unemployment stands at over 20 percent, with youth joblessness remaining over 55 percent.

Job Data Shows Improvement as Global Stocks Tumble


Three separate studies show improvement in the U.S. job market, but investors globally express concern that growth expectations extend far beyond reality.  The Gallup Good Jobs index, which measures jobs that offer 30+ hours per week of employment and a regular paycheck, saw a small improvement. According to new data released Thursday, the index rose 0.1 point to 45.3 percent in December, above the 44.9 percent reading in November.

World Bank Downgrades Global Economic Forecast Again


On Wednesday, the World Bank once again downgraded its global economic growth forecast for 2016. The downgrade resulted from the World Bank’s prediction of weak performance from major emerging market economies, like China and Brazil. The reduced performance of these economies will reduce overall performance of the global economy and perpetuate the sluggish improvement of more advanced economies such as the United States.

Venezuelan President Gains New Economic Team


President Nicolas Maduro replaced key figures of his cabinet in response to congressional losses, according to Bloomberg Business. Maduro removed certain people to address the dire state of the economy, which has long suffered due to a 40-percent drop in oil prices. Venezuela relies on oil revenue for 95 percent of its exports.

Multiple Economic Indicators Point to a Structural Decline in U.S.


A structural decline in the American economy looms as several economic indicators weaken significantly at the same time.  In November, the United States trade balance weakened by $42.4 billion, with exports falling to $182.2 billion.

MIT Study: Pollution Treaty’s Potential Major Economic Upside for U.S.


The Minamata Convention on Mercury, a global treaty adopted in 2013, did not intend to serve as a major economic treaty. Its aim was to reduce mercury pollution around the world. However, according to a recent MIT study, that treaty, and several others, may have a significant positive impact on the U.S. economy.

Kenyan Economy Weakened in Q3 of 2015


Kenya’s economy grew 5.8 percent in the third quarter as authorities failed to meet their original growth target of 7 percent, according to Reuters. The government lowered the forecast in reaction to heavy rainfall and a smaller budget, but the overall state of the economy has remained stable. The construction and agriculture sectors contributed most to Q3 expansion, but the economy contracted due to a fall in tourism caused by an onslaught of Islamic militants.

Retail, Auto Sales Show Improvement as Home Prices Rise


Store sales saw higher growth for the last week of 2015, as post-holiday sales enticed more activity than a year ago.  Clearance sales drew “a strong response” according to Redbook Research, a retail research firm.

Following WTO Ruling, US Repeals Meat Labeling Law


Say what you will about the American diet — the truth is that Americans are actually among the most conscientious eaters in the world. Millions of Americans enjoy knowing exactly what they are eating, including where it came from; how it was processed, and other details of how it made it to the table. Now, a World Trade Organization (WTO) ruling has made it much harder to find out where Americans’ pork and beef was born, raised, and slaughtered.