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Türkei setzt sich an die Spitze der Weltbörsen
Wer hätte das gedacht? Der türkische Aktienmarkt hat sich nun an die Spitze der Weltbörsen gesetzt und damit die Börsen der südamerikanischen und arabischen Rohstoffländer überholt. “Dazu beigetragen haben sowohl die Aktienmarkterholung in Istanbul als auch die Erholung der türkischen Lira gegenüber dem US-Dollar”, heißt es bei Wellenreiter-Invest. Der dollarbasierte Länder-ETF weist in diesem Jahr nach einer […]
China’s Promises to Support Covid-Hit Economy Fail to Impress
Investors aren’t buying the Chinese government’s bullish rhetoric and promises of support for an economy paying the price for its stringent Covid Zero strategy. China reported the biggest contraction in retail sales and the highest unemployment since the early months of the pandemic on Monday. Hours later, the central bank announced 23 measures to cushion the economy, including more […]
Gas and go. Pay later. How some drivers are dealing with higher fuel costs.
The ad said, “Fill up now. Pay later.” Get the gas you need now and pay for it in installments. It’s the modern layaway plan but instead of purchasing an appliance, clothes or jewelry over time, it’s fuel. Klarna, a buy now and pay later company, is allowing Chevron and Texaco customers to pay for […]
China Can Bypass SWIFT by Putting Digital Money in Play
Cutting some Russian banks’ access to SWIFT — the messaging network at the heart of global movement of money — may be a highly effective punishment for President Vladimir Putin’s invasion of Ukraine. But it will give other geopolitical rivals, especially China, the excuse to promote digital versions of their own central banks’ money in global trade and finance. That […]
Forget doom-laden headlines, the dollar has not gone into terminal decline
The dollar is in freefall! The global greenback is doomed! screamed recent headlines. Actually, such sensational headlines are “too sensational”, to echo that noted authority on currencies, Miss Prism, in Oscar Wilde’s The Importance of Being Earnest. The dollar’s fall in July to a two-year low against the euro was the immediate impetus for these […]
Still closed – the shops that won’t be reopening
While pubs and hairdressers have been given the all clear by government to reopen on 4 July, many business owners were disappointed to learn they must keep their doors closed for now. “It was a shock. I can understand the logical argument but personally it feels very irritating and disappointing,” says Adam Grant, a tattoo […]
Brexit Heartlands Pay the Highest Price for Coronavirus
Four charts show how Prime Minister Boris Johnson’s promise to “level up” the country just got harder. The Brexit-supporting regions that propelled Prime Minister Boris Johnson into power are now being disproportionately hit by coronavirus and will bear the brunt of the economic fallout. Outside London, the northwest and northeast of England are experiencing the highest death rates. The “Red […]
Global economy to suffer worst peacetime slump in 100 years, OECD says – as it happened
An OECD report forecasted that the global economy will contract 6% in 2020, and 7.6% if there is a second wave of Covid-19 infections. It said the pandemic has triggered the most severe peace-time recession in nearly a century The report also found that Britain’s economy is likely to suffer the worst damage from the Covid-19 […]
Chancellor to set out future of furlough scheme
Chancellor Rishi Sunak is to reveal the future of the government’s job retention scheme later, amid growing calls to extend it. Currently more than six million people are having up to 80% of their wages paid by the government while they are temporarily on leave from their jobs. Mr Sunak previously warned the furlough scheme, […]
The Fed’s four radical moves to save the economy
As policymakers from America’s central bank prepare to meet – virtually – this week, they will be looking to see if the extraordinary steps they have taken to confront the world’s most severe economic crisis since the Great Depression are working. Since March, the Federal Reserve has pledged to pump more than $4tn (£3.2tn) into […]
US oil prices drop to 21-year low as demand dries up
The price of US oil has fallen to a level not seen since 1999, as demand dries up and storage runs out. The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, dropped 19.3% to $14.74 a barrel on Monday. The oil market has come under intense pressure during the […]
EU helps protect weak firms from foreign takeovers
The EU plans to help block foreign takeovers of European companies struggling with the virus downturn. It wants to allow governments to invest in weak companies, which could include some form of ownership. While it called them “measures of last resort”, the European Commission says it is consulting member states. A focus for the regulator […]