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Fears for US economy as shale industry goes into hibernation

Oil Barrels

America’s fracking revolution is becoming a victim of its own success. The controversial boom in shale gas and oil has driven the US economic recovery and helped lower world crude prices. But a price plunge from $115 (£75) a barrel last June to just above $50 last week means many shale operations no longer pay.

Ayn Rand would have been 110, and still influential years later

Alan Greenspan still pic

Modern-day capitalism has no shortage of heavyweight scholars - names such as Milton Friedman, Adam Smith, Friedrich von Hayek and Murray Rothbard are among the most prominent names that surface among free market thinkers. Yet the person most frequently evoked by proponents and detractors alike was neither a trained economist nor a traditional businessperson.

The global economy: reasons to be cheerful


The conventional wisdom about the state of the world economy goes something like this: since the start of the 2007-2008 financial crisis, the developed world has struggled to recover, with only the United States able to adjust.

Bank of England holds fire as inflation weighs

Bank Of England Building

The Bank of England (BoE) left its benchmark interest rate unchanged Thursday - as expected - as the prolonged risk of stubbornly low inflation pushes back expectations of an interest rate rise, with a hike in 2015 now looking less likely.