Cocoa has enraptured the world. It has done so since the first Europeans arrived in America. Today, the commodity is in use not only in the production of sweets but also in some beauty products. Its consumption, which reaches 4.7 million tons a year worldwide, has continued to grow. Cocoa production reaches 4.8 million tons …
African cocoa laborers earn less than a dollar a day Read More »
The purpose of “Operation Warp Speed” is to boost access to vaccines and treatments. The U.S. government allocated hundreds of millions of dollars to achieve this goal. Most importantly, the government awarded $1.6 billion as part of this program to Novavax. Authorities are ready to do whatever it takes to cope with the coronavirus pandemic …
Riskier currencies rallied on Tuesday despite the surging coronavirus cases. Rapidly spreading infection is casting doubts over the global recovery. Still, the New Zealand dollar skyrocketed by 0.3% to a one-month high of $0.6580. Imre Speizer, the FX analyst at Westpac in Auckland, noting that it could reach $0.67 if sentiment holds. On the other …
Aussie dollar was steady. What about New Zealand dollar? Read More »
The U.S. dollar nursed losses on Tuesday, while riskier currencies added a little to their gains. Better-than-expected U.S. services boosted traders’ confidence in a global economic recovery from the coronavirus pandemic. The greenback hovered near a two-week low against a basket of currencies. Meanwhile, the Chinese yuan surged forward and briefly broke past the 7 …
U.S. dollar lowered as risk sentiment improved in market Read More »
The coronavirus pandemic continues to dominate the headlines. Unfortunately, coronavirus cases surpassed 11 million. Importantly, the U.S. government awarded hundreds of millions of dollars more precisely $1.6 billion to Novavax for its coronavirus vaccine. For example, the company will use this money to cover testing, commercialization as well as manufacturing of a potential coronavirus vaccine …
U.S. Government, Novavax and Coronavirus Vaccine Read More »
On Tuesday, the European Commission which is the European Union’s (EU) executive arm made the decision to slash its 2020 and 2021 projections. It is not surprising as the coronavirus pandemic created a lot of problems for all members of the union. According to the latest information, the institution expects the 27-member region to contract …
EU Changed its Economic Forecasts for 2020 and 2021 Read More »
Postmates is the fourth-largest U.S. food delivery service. The company has had success in specific urban areas of Los Angeles and Miami. Nevertheless, Postmates has struggled to compete nationally against DoorDash, GrubHub as well as Uber Eats. It is worth mentioning that, Uber eventually became the owner of its rival. Nevertheless, even after this deal, …
Uber Bought Postmates for $2.65 Billion in Stock Read More »
Tech companies Google, Facebook, and Twitter are pausing the processing of data requests from the Hong Kong government. These social media platforms are reviewing a new security law that went into effect on July 1st. A Google spokesperson said when the law took effect, they paused production on new data requests from Hong Kong authorities. …
Google, FB & Twitter Pause Data Requests over HK Sec Law Read More »
The Japanese yen declined against most major currencies on Monday. Gains in Asian share prices encouraged some risk-on trades, causing the Japanese yen’s downfall. The currency tumbled down by 0.5% against the euro to 121.56. The Japanese yen also declined roughly by 0.5% against the Australian and New Zealand dollars. However, analysts stated that …
Japanese Yen fell on Monday while Chinese Yuan soared Read More »
The U.S. dollar traded steady against most currencies on Monday. Investors expected new data to show the U.S. services sector stopped contracting. That would further lift hopes for economic recovery from the pandemic. The dollar climbed up to 107.68 yen on Monday after gaining 0.3% last week. However, the dollar dipped to 0.9432 against the …
U.S. dollar edged up slightly. What about the Yen and Yuan? Read More »
On Monday, Uber, and Posmates made an important announcement. Uber became the owner of the fourth-largest U.S. food delivery service. As a reminder, Uber only trials DoorDash when it comes to market share. Importantly, Uber has no intention to discontinue the Postmates app. Moreover, this app will continue to operate supported by a more efficient, …
Uber Bought the fourth-largest U.S. food Delivery Service Read More »
Airlines around the world are working hard to adapt to the new reality. However, for some of them, it is hard to adjust to this everchanging environment. This is not surprising, as governments implemented travel restrictions. As a result, companies lost a lot of money. Hopefully, authorities will have already removed some of the restrictions. …
Aeromexico Files for Bankruptcy Protection in the U.S. Read More »
Silver mining production increased by 2% in 2015. This year, the silver mining supply was led by Mexico and Peru. Here are the Top 10 silver mining countries: Mexico Peru has the most significant silver mining reserves in the world. However, Mexico has been a leader in metal production. The country’s silver mining output increased by …
Top 10 silver mining countries and sources of demand Read More »
Rocket Lab’s 13th mission ended in failure on Saturday, after the vehicle started losing speed and dropped in altitude. The rocket experienced “an anomaly” after launching to space. As a result, Rocket Lab lost its rocket, and all the satellites it carried on board. The company’s rocket is called the Electron. It successfully took off …
Rocket Lab’s Electron Fails as the Rocket Lost Speed Read More »
The Chinese yuan changed lower at 7.0732 per dollar in the offshore market on Friday. The Australian dollar was also steady at $0.6917 as analysts expect new data to show a swift rebound in retail sales in May. The New Zealand dollar traded at $0.6509. The U.S. continues to reprimand China for implementing Beijing’s new …
Chinese Yuan traded little changed despite rising tensions Read More »
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