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What Is the Petrodollar? System, History & Collapse Explained | LiteFinance

What Is the Petrodollar? System, History & Collapse Explained

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2026.05.14 2026.05.14 What Is the Petrodollar and How Does It Affect the Global Economy? Gleb Kabanovhttps://www.litefinance.org/blog/authors/gleb-kabanov/ What is the petrodollar, and why has this concept shaped the architecture of the global economy for decades? The term describes a mechanism in which oil is traded mainly in US dollars, while oil exporters reinvest their oil revenues

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The Eight Premier League Player of the Season Nominees—Ranked

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This year’s battle for the Premier League player of the season award is an intriguing one. There is no clear frontrunner. There have been several seasons in years gone by when the standout performer across the campaign has been blindingly obvious. No one was going to challenge the record-toppling iteration of Mohamed Salah last term,

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Trump and Xi meet; Law firms; Kevin Warsh; Nebraska : NPR

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Good morning. You’re reading the Up First newsletter. Subscribe here to get it delivered to your inbox, and listen to the Up First podcast for all the news you need to start your day. Today’s top stories President Trump arrived in Beijing and met with Chinese President Xi Jinping. The U.S. says the leaders discussed expanding American products into

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2 Ways Jerome Powell’s Successor, Kevin Warsh, Intends to Alter the Fed — and Both Risk Upsetting a Historically Pricey Stock Market

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The big day is nearly here. Tomorrow, May 15, will mark the final day of Jerome Powell’s tenure as Fed chair and the expected beginning of Kevin Warsh’s first term as head of the Fed. Warsh’s five years on the Board of Governors of the Federal Reserve (Feb. 24, 2006 – March 31, 2011) bring

2 Ways Jerome Powell’s Successor, Kevin Warsh, Intends to Alter the Fed — and Both Risk Upsetting a Historically Pricey Stock Market Read More »

Dancers rehearse before an audition for the Radio City Rockettes at Radio City Music Hall in New York, on Wednesday, April 22, 2026. (AP Photo/Yuki Iwamura)

Exclusive-Iraq Sought Financial Assistance From IMF as Result of Iran War, Source Close to IMF Says

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WASHINGTON, May ⁠14 (Reuters) – ⁠Iraqi officials ⁠have approached the International Monetary Fund ​about securing financial assistance as a ‌result of the conflict ‌in the Middle East, ⁠a ⁠source close to the IMF said on Thursday. Initial ​conversations took place last month during the spring meetings of the IMF ​and World Bank in Washington, and

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China’s Xi warns Trump about Taiwan at Beijing summit | Donald Trump News

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The Chinese leader cautions the US president that disagreement over Taiwan could send relations down a dangerous path and even lead to conflict. Published On 14 May 202614 May 2026 Chinese President Xi Jinping has warned his United States counterpart, Donald Trump, that missteps on Taiwan could push their two countries into “conflict”, a stark

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Italy & Brentford talent Kayode among Premier League YPOTS nominees

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BRENTFORD, ENGLAND – OCTOBER 25: Michael Kayode of Brentford dries the ball with a towel before taking a long throw-in during the Premier League match between Brentford and Liverpool at Gtech Community Stadium on October 25, 2025 in Brentford, England. (Photo by Alex Pantling/Getty Images) Michael Kayode is among eight players nominated for the

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President Trump: Had extremely positive and productive meetings today

Trump-Xi talks could hinge on two tech flashpoints between U.S. and China

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U.S. President Donald Trump’s summit with Chinese counterpart Xi Jinping could hinge on two key tech flashpoints — critical minerals and market access for American companies. The much-anticipated bilateral meeting between the two countries that were locked in a tariff standoff just a year ago began on Thursday, with warm words exchanged between the two

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Stock Market Investors Just Got Bad News About President Trump’s Economy. History Says a Domino Effect Could Follow.

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The S&P 500 (^GSPC +0.58%) has advanced 8% year to date, and the benchmark index currently trades near its record high. However, investors recently got some bad news about President Trump’s economy. Consumer sentiment hit a record low in May, after inflation accelerated to a three-year high in April. In particular, history says the resurgence

Stock Market Investors Just Got Bad News About President Trump’s Economy. History Says a Domino Effect Could Follow. Read More »

Trump praises China during state banquet in Beijing

Trump praises China during state banquet in Beijing

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IE 11 is not supported. For an optimal experience visit our site on another browser. Now Playing Trump says U.S. and China share ‘deep sense of mutual respect’ at state banquet 03:54 UP NEXT Senate Confirms Kevin Warsh as Next Federal Reserve Chair 00:19 Americans Voice New Frustrations Over Inflation, Consumer Prices 02:13 China’s Xi

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Technical Analysis of US Crude, XAUUSD, and EURUSD for Today (May 13, 2026)

Technical Analysis of US Crude, XAUUSD, and EURUSD for Today (May 13, 2026)

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2026.05.13 2026.05.13 Short-Term Analysis for Oil, Gold, and EURUSD for 13.05.2026 Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/ Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. After climbing yesterday,

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‘Brilliant’ Lionel Messi Hyped After Brace, Watch Highlights as Miami Keeps Road Win Streak Alive

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Inter Miami star Lionel Messi continued his hot start to the 2026 MLS season, scoring twice in a 5-3 win over FC Cincinnati on Wednesday. Messi delivered the opener in the 24th minute and then equalized in the 55th after Miami fell behind 2-1. The Herons trailed again deep into the second half until goals

‘Brilliant’ Lionel Messi Hyped After Brace, Watch Highlights as Miami Keeps Road Win Streak Alive Read More »

Government responds to calls to allow pets to travel in the cabin of planes entering UK

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When flying with pets, the animals must be placed in the hold More than 14,000 people have signed a petition urging the government to change the rules regarding pets on flights(Image: PA Photo/thinkstockphotos) The Government has issued a statement after thousands signed a petition calling to change the rules on pets travelling on planes. Although

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Dissident artist on trial in China for satirical Mao sculptures, rights group says

Xi warns Trump of possible conflict over Taiwan at Beijing summit

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There was no “big, fat hug” from Xi as Trump promised last month, but the pair had an extended handshake and Trump later offered him several warm pats on the arm as they toured the plaza. FORSUBSCRIBERS Garrett Haake breaks down the symbolism of Trump’s welcome ceremony 01:29 The two leaders exchanged praise in their

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INTERACTIVE-US SELLS TO CHINA-EXPORTS copy-1778607055

Who are the US CEOs in China with Trump, and what’s in it for them? | Business and Economy News

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More than a dozen United States business leaders have joined President Donald Trump on his state visit to China, where he is discussing issues including trade, technology and artificial intelligence (AI) with Chinese President Xi Jinping. Upon arrival in Beijing on Wednesday, Trump introduced the group by telling Xi that they were all “distinguished representatives

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Rubio spoke to NBC News following the two leaders’ bilateral meeting in Beijing.

China agreed with U.S. on Strait of Hormuz when Trump discussed Iran war with Xi, Rubio says

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But the president “didn’t ask him for anything,” Rubio said. “We’re not asking for China’s help. We don’t need their help,” said Rubio, who has been under Chinese sanctions since 2020 over his criticism of China’s human rights record. (Ahead of Trump’s trip China indicated that the sanctions would not prevent Rubio from traveling to

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Harvey Elliott, Liverpool and a looming summer of uncertainty

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Harvey Elliott’s Aston Villa nightmare is almost over, but there’s still at least one more awkward outing to endure. Tomorrow night (Friday), he’ll watch from the sidelines as the two clubs who between them pay his wages — yet do not consider him an option for first-team duty in their shirt — battle it out

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Musk taking a swig of a red drink

Trump sticks to the script as he lauds ‘special relationship’ with China and invites Xi to White House in September

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Trump says trip was ‘a great honor’ to be in China During his remarks, President Trump said it is “a great honor” to visit China, adding that he received a “magnificent welcome like no other.” Sticking to his script, he then spoke of the historic relationship between both the U.S. and China, noting that Chinese

Trump sticks to the script as he lauds ‘special relationship’ with China and invites Xi to White House in September Read More »