Mom and pop businesses with 50 or fewer employees that buy health insurance plans through California’s state-run marketplace can expect an average premium increase of 5.2 percent in 2015, Covered California officials announced Monday.
But in the Arctic, producing a barrel costs $78 on average. From Canada’s oil sands, it’s an average of $74 a barrel. And because those are averages, some companies have costs that are higher — which means there could be drillers currently producing crude at a loss.
Here in the U.S., the oil drilling boom is due largely to technologies like hydraulic fracturing, or fracking, used to force oil from shale formations deep underground. Producing this oil, Rystad figures, costs an average of $62 a barrel.
Food bank use in Canada increased slightly this year in comparison to 2013, and it remains significantly higher than it was before the economic recession, according to a report released Tuesday by Food Bank Canada.
The National Council of Applied Economic Research (NCAER) has lowered India’s GDP growth forecast to 5 per cent in the current financial year on weak economical fundamentals and uncertainties in growth prospects.
On Tuesday, Honda Motor Co. and Nissan Motor Co. cut their sales projections in the country for this year and the chief executive of luxury-car maker BMW AG said flatly the nation’s “high double-digit growth rates are over.”
Australia’s central bank kept interest rates at record lows for a 14th straight policy meeting on Tuesday, saying the stimulus was justified given the outlook for sub par growth even as consumers showed signs of opening their wallets.
The central bank has kept interest rates at near-record lows for more than four years and says there will be no hikes until substantial slack in the economy is eliminated.
Low inflation, flagging growth, and the European Central Bank’s stimulus bias will probably force eastern members of the European Union to cut interest rates to record lows this week.
“We’re seeing a weak yen at a time when South Korea’s export momentum isn’t strong, and the uncertainty in currency markets may further deter local companies’ investments,” Kwon Young Sun, a Hong Kong-based economist at Nomura Holdings Inc., said in a phone interview yesterday. “We see increasing risks of BOK cutting rates to 1.75 percent in the next few months.”
Still, some observers fretted about the bank’s role as the elephant in the markets. Its monthly purchases of Japanese government bonds under the new policy—¥8 trillion ($70.1 billion) to ¥12 trillion—will be roughly equivalent to the government’s monthly issuance of those bonds.
Poland’s central bank should use all the policy tools at its disposal to bring consumer prices closer to its 2.5% target because low inflation is complicating the country’s fiscal policy, the country’s finance minister said.
In announcing that it will boost purchases of government bonds to a record annual pace of $709 billion, the central bank has just added further fuel to the most obvious bond bubble in modern history — and helped create a fresh one on stocks.
Gold & Silver
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