Word: recessional
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Ruth Reichl, editor-in-chief of Gourmet magazine and former New York Times restaurant critic, had a mother who was a terrible cook. So it's fairly obvious that Reichl grew up into a very different woman than the one who raised her. The differences do not end there, however...
But over the last several months, something funny has been happening in the commodities trade. After spectacular plunges, the prices of oil, copper, palm oil and others are rallying. This shouldn't be happening given the parlous state of the world economy. The International Monetary Fund this week cut its...
But why are prices rising for some commodities now, in the middle of the worst recession in decades? The answer: demand is recovering, slightly, for some raw materials. In the case of oil, supplies have been reduced by OPEC cutbacks. And commodities traders are bidding up market prices in general...
That's because miners, farmers and oil drillers, hit by the credit crunch, can't finance investments that would increase their production capacity. Many won't invest today even if they have access to financing because depressed prices make projects uneconomic. Indeed, when prices spiked sharply in 2007-08, it...
Are Europe and the U.S. headed for a steel war with China? Brussels and Washington have long complained that China unfairly helps its steelmakers. Now the recession - and the different way steel firms are responding to it - is adding to the angst.