The coronavirus pandemic caused a lot of problems for the countries around the world and the world’s largest economy is not an exception. Moreover, the U.S. has the highest number of cases around the globe. Unfortunately, the number of cases surpassed 4 million recently. Importantly, the U.S. economy is recovering from what experts think will …
U.S. Economy in the Second Quarter and Risk Factors Read More »
After retreating slightly on Tuesday, the Rand regained its momentum witnessed in the past six weeks against a weak USD. The South African Rand traded at 16.46 against the dollar on Wednesday. The dented USD is likely to remain in the status quo. Meanwhile, the Fed expected to retain its dovish monetary policy until the …
On Thursday, the Labor Department released its weekly jobless claims report. According to this report, nearly 32 million Americans were collecting unemployment checks in early July. Moreover, the number of Americans who decided to apply for unemployment benefits unexpectedly increased for the first time in nearly four months. This factor may indicate that new coronavirus …
Unemployment Rose for the First Time in Nearly Four Months Read More »
Legal separation can be painstaking and tedious. Especially if this involves access to critical agricultural commodities, such as fisheries, on a post-Brexit agreement. The UK was one of the EU Member States before it left the supranational body, effective on January 31, 2020. It currently undergoes transition until the end of the year. Under the …
The United Kingdom and EU in Trade Deal Friction Read More »
Australia’s government should come up with a comprehensive plan regarding future job creation, as the country is trying to deal with the economic impact of the coronavirus pandemic. It is worth mentioning that Australia’s government announced a fiscal stimulus worth 289 billion Australian dollars ($206.54 billion). The amount equals to around 14.6% of the country’s …
State of the Australian Economy and Main Challenges Read More »
The United States experienced a reversal in what are the already “improving” unemployment stats, recorded last month. The US Department of Labor expects another 1.3 million Americans added to the first-time jobless claimers for federal unemployment benefit for the week ending on July 18, 2020. For the time being, some 17.1 million are to retain …
US July Employment Pulse Weak, Financial Aid Set to End Read More »
South Korea fell into a recession in the second quarter. Unfortunately, Asia’s fourth-largest economy shrank by a seasonally adjusted 3.3% in the second quarter, based on the information provided by the Bank of Korea. It is worth mentioning that is the sharpest contraction for more than two decades, more precisely since the first quarter of …
South Korea’s Economy Fell into Recession in the Q2 Read More »
The unemployment rate in some of the US’s biggest cities represents a serious challenge. For example, due to the coronavirus pandemic, the jobless rate in New York, Los Angeles, as well as other major urban areas increased and, in some cases, surpassed 20%. Importantly, the unemployment rate is a barometer of financial hardship for American …
The coronavirus pandemic created a lot of problems for countries worldwide. On Tuesday, the 27 European Union governments reached an agreement over a new fiscal stimulus, but it was very hard to reach it in the first place. It took several versions to persuade all leaders. The EU plans to spend 750 billion euros ($857 …
EU Leaders Reached a Historic Agreement on Tuesday Read More »
The world’s third-largest economy is struggling to cope with the economic impact of the coronavirus pandemic. Unfortunately, Japan’s exports dropped at a double-digit pace for the fourth month in a row in June. Moreover, the country fell into recession for the first time in 4-1/2 years in the first quarter of 2020. Also, Japan is …
Japan’s Exports Fell for the Fourth Month in a Row Read More »
Airlines around the world are struggling to cope with the economic impact of the coronavirus pandemic. For several months, even the busiest airport suffered losses due to restrictions imposed by governments. Moreover, many people are not willing to fly, as they are trying to avoid crowded places. It is hard to blame them, as coronavirus …
American Airlines and JetBlue Formed a Partnership Read More »
China’s official gross domestic product (GDP) figures are important when it comes to tracking the health of the world’s second-largest economy. Notably, China’s GDP grew by 3.2% in the second quarter. It is worth noting that its GDP grew by 3.2% more compared to the same period of time in 2019. Moreover, this result surpassed …
China’s Economy Grew by 3.2% in the Second Quarter Read More »
Apple is one of the most successful companies in the world, and people are willing to spend hundreds of dollars to buy an iPhone, iMac, etc. On Wednesday, the tech giant won a court case against the European Commission regarding 13 billion euros ($14.9 billion) in Irish taxes. The European Union (EU) failed to convince …
Singapore is one of the smallest independent countries in the world. Nevertheless, Singapore has a highly developed market economy. The country underwent a period of rapid industrialization, after which it became an important financial hub. However, the coronavirus pandemic caused serious problems for the local economy. Unfortunately, Singapore’s economy entered a technical recession after shrinking …
Singapore’s Economy Entered a Technical Recession Read More »
The People’s Bank of China made it clear that it isn’t planning much more stimulus for the country. The world’s second-largest economy is recovering from the coronavirus shock. Guo Kai serves as a deputy director of the monetary policy department. According to his information, once policies and measures completed their mission, they have exited. For …
China’s Central Bank and the State of the Local Economy Read More »
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