Zimbabwe’s central bank will begin selling gold coins as a store of value this month in order to combat rampant inflation, which has significantly undermined the local currency. The central bank governor, John Mangudya, said in a statement on Monday… Read More ›
Regulations & Legal
Purchasers In Japan And South Korea Have Not Yet Been Requested To Pay Roubles For Russian LNG Supplies
After a senior management at gas producer Gazprom announced a plan to broaden the payment arrangement, major Asian customers of Russian liquefied natural gas (LNG) claimed they had yet to receive requests to pay for supply in Russian roubles. The… Read More ›
G-7 Is Thinking About Putting A Price Cap On Russian Oil. However, Energy Specialists Believe It Is Impossible
The world’s seven major industrialized economies have proposed a price restriction on Russian oil in order to further constrain the Kremlin’s capacity to fund its offensive in Ukraine and to safeguard consumers from rising energy prices. However, the G-7′s pursuit… Read More ›
Chinese Real Estate Crisis Worsens With A Major Shanghai Developer Defaults
Another prominent Chinese developer has gone bankrupt, adding to the woes of the world’s second largest economy’s real estate sector. According to a company filing with the Hong Kong stock exchange, Shanghai-based Shimao Group failed to pay the interest and… Read More ›
Omicron-Specific COVID Vaccines Could Improve Protection As Boosters: European Medicines Agency
When administered as a booster, coronavirus vaccinations modified to incorporate the Omicron variant strain can improve protection, according to the European Medicines Agency and other worldwide health regulators on Friday. The European Medicines Agency (EMA) announced that global regulators have… Read More ›
Single-Use Plastic Ban Imposed In India To Fight Pollution
To tackle rising pollution in the country’s streets, India banned single-use plastics on goods ranging from straws to cigarette packets on Friday. When the ban was announced, the government ignored the appeals of food, beverage, and consumer products industries to… Read More ›
According To The Atlanta Fed’s GDP Tracker, The US Economy Is Likely In A Recession
A Federal Reserve indicator of economic growth suggests that the United States has entered a recession. Most Wall Street economists believe negative growth is more likely in the future, although it won’t happen until at least 2023. However, the Atlanta… Read More ›
Eurozone inflation has reached a record 8.6%, as the ECB prepares to raise interest rates for the first time in 11 years
Inflation in the eurozone reached a new high in June, just before of the European Central Bank’s first rate hike in 11 years. According to preliminary estimates released Friday by Europe’s statistics body Eurostat, headline inflation was 8.6 per cent… Read More ›
Tesla Struck With A Fresh Lawsuit Alleging Racial Discrimination Against Black Employees
Fifteen Black former or current Tesla employees filed a complaint against the electric car company, citing racial discrimination and harassment at its plants. According to the lawsuit filed in a California state court, the workers said they were subjected to… Read More ›
Kohl’s Terminates Talks With Franchise Group, And The Company’s Stock Plummets
After months of negotiations, US department store giant Kohl’s Corp called off its sale to Franchise Group on Friday, citing declining markets and challenging financial conditions. Kohl’s shares, which had already fallen 28 per cent since January, fell roughly 15… Read More ›