So far, the impact of Western sanctions – an EU embargo of oil purchases, European and US restrictions on Tehran's access to international banking, and a new move to intensify the trading restrictions even further – have had a devastating impact.
Precious metals once again attempted to recover as the daily New York trading action got underway on Wednesday. The US dollar showed little in the way of gains and also showed no tendencies to ease much below its recent multi-week highs.
Gold has breached the $1,500/oz level and reached new record nominal highs at $1,505.65/oz. Since yesterday it has gradually risen in all currencies and is approaching record nominal highs in all major currencies.
How do we know if EU competition authorities are approving the right mergers? This article tracks how competitors' stock prices react to merger news to infer when the authorities err. The European Commission is not doing badly, but there is room for improvement.