Argentina Ditches Dollar In Trade With China
On Wednesday, Argentina’s Economy Minister, Sergio Massa, announced that going forward, the country will pay for the majority of its imports from China in yuan rather than US dollars. In…
Government Organizing Talks On New First Republic Bank Deal To Save Lender From Seizure
On Thursday, Reuters reported that three sources familiar with the matter confirm that US officials are organizing urgent talks seeking to rescue First Republic Bank (FRC.N) as private sector talks…
Gap To Lay Off 1800 As Apparel Sales Stagnate
On Thursday, Gap Inc (GPS.N) said that is would begin a second round of layoffs, cutting roughly 1800 jobs, as the company joined the list of big businesses downsizing in…
Argentina Hikes Benchmark Rate 1000 Basis Points Amid Spiraling Inflation
On Thursday, Argentina’s central bank announced it raised its benchmark interest rate by 10% to 91%. It was the second large rate hike the bank enacted within a week, following…
Capital One Profits Come In Worse Than Feared
Image of Capital One Bank headquarters courtesy of Wikipedia On Thursday consumer lender Capital One Financial Corp posted first quarter profits which missed estimates, as an increase in provisions…
In The Fight Against The Dollar, Gold Has Become An Asset
The Chairman of Rockefeller International, Ruchir Sharma, has written a piece in the Financial Times arguing that as central banks around the world are shifting away from the US dollar,…
Microsoft Announces A New Cloud Data “Region” In Poland
On Wednesday, Microsoft announced it has launched a new cloud service “region” in central Poland. The new facility will be the first large-scale data storage and processing center of its…
Eastern Europe Is Going Into Debt Over Inflation, Energy, And The War In Ukraine
A new report from Bloomberg on Tuesday revealed that so far this year, countries in Eastern Europe have borrowed $32 billion, an increase of 300% over the same period last…
Yellen Issues New Warning Over Debt Limit
During a meeting with business executives from California on Tuesday, Treasury Secretary Janet Yellen warned that if the United States fails to raise its debt ceiling, it will lead to…
Chief Economist Of The Bank Of England – Brits Need To Accept They Are Poor Now And Wages Are Low
Huw Pill, Chief Economist at the Bank of England, told British citizens on Tuesday that British households and businesses are going to need to accept that that they are now…
