IMF says risks to financial stability have increased and to remain vigilant International Monetary Fund chief Kristalina Georgieva said on Sunday that, ‘risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress’. Challenge The IMF managing director is reported toRead More →
No UK recession in 2023 The UK is expected to avoid a technical recession in 2023, according to the Office for Budget Responsibility. But the economy is still expected to shrink by 0.2%. The most common definition of recession is that of a ‘technical recession’ in which there have been twoRead More →
Market movement Stocks and oil prices fell on Thursday after the U.S. Federal Reserve intimated it could soon cut back its support An increase in the spread of covid-19 delta variant, signs of Chinese economic weakness and the Taliban’s takeover of Afghanistan also spooked investors. FTSE 100, Dow and S&PRead More →
Asia stocks lower Shares were mostly lower in Asia on Friday after U.S. stocks struggled amid uncertainty over rising Covid-19 cases and new risks appearing. Nikkei index closed down at: 28000 a drop of around 276 points On Thursday, U.S. stock indexes closed mostly down from recent highs. Asia stocksRead More →
The country’s gross domestic product (GDP) reportedly increased 7.9% in the second quarter from a year ago, the National Bureau of Statistics reported Thursday. Retail sales rose 12.1% in June from a year ago. Industrial production grew by 8.3%. Sustained recovery China’s economy sustained a steady recovery – the statisticsRead More →
Hashrate drops More than 54% of bitcoin’s hashrate, which is the collective computing power of miners worldwide, has dropped off the network since its peak in May. The Bitcoin code has re-calibrated to make it approximately 28% less difficult to mine. Miners who are still plugged into the network standRead More →
Official PMI data shows dip in reading An official report released 30th June 2021 of China’s factory activity is reported to have recorded a slight drop, as a shortage in computer chips and power problems slowed production. China’s official manufacturing purchasing managers index (PMI) – fell to 50.9 from 51.0Read More →
Bitcoin ‘mining’ production is energy inefficient In a bid to cut down on vast energy consuming operations, China is reported to have made plans to ban new cryptocurrency mining projects and shut down existing activity. It is estimated that one such bitcoin mining operation consumes some 128 terrawatt hours ofRead More →
Markets whipsawed overnight as the U.S. – China phase one trade deal came into question. Doubt was cast over the deal after Peter Navarro, trade adviser to President Trump, said the U.S.-China trade deal was over, prompting a sharp fall in stocks. He was quickly forced to retract the statement,Read More →
The U.S. economy slowed more than expected with the GDP reading for the first quarter coming in at -5%. Analysts have suggested that the second quarter GDP could be down by as much as 40% 1 in 4 Americans have lost their jobs Data yesterday, 28th May 2020, showed U.S.Read More →