Tag: world economy

Bank of England Slams Bitcoin, Praises Stablecoins and CBDCs

Bank of England Slams Bitcoin, Praises Stablecoins, and CBDCs Like many other central banks around the world, the Bank of England are still thinking about developing its own digital currency. The Bank of England’s governor today slammed Bitcoin as a substandard method of payment but reiterated the bank’s interest in central bank digital currencies (CBDC) and stablecoins. Despite the interest

How Covid19 has changed the Concept of Discretionary and Essentials

Introduction It was found by a survey of top developed countries in the world “how the COVID-19 outbreak has affected their consumer plans for discretionary spending—and which shifts could be part of the next” Discretionary Expenses Consumers are adequately reducing most discretionary spending, which has a deeply bad impact on some industries, such as restaurants,

After Corona virus we should be ready for an uncertainty pandemic

The next few months will tell us a lot about the shape of the coming global recovery. Despite ebullient stock markets, uncertainty about Covid-19 remains pervasive. Regardless of the pandemic’s course, therefore, the world’s struggle with the virus so far is likely to affect growth, employment, and politics for a very long time. Let’s start with the

US economy shrank at a record-breaking 33% rate last quarter

The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter – by far the worst quarterly plunge ever – when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday. The Commerce Department’s estimate of the second-quarter decline in the gross

Apple Surpasses Saudi Aramco to Become World’s Most Valuable Company

Apple rode the company’s strong earnings report to become the world’s most valuable publicly traded company, surpassing the state oil giant Saudi Aramco at Friday’s market close. Apple shares closed up 10.47% Friday, giving it a market valuation of $1.84 trillion. Saudi Aramco, which had been the most valuable publicly listed company since its market debut last year, now trails at $1.76 trillion