Yuan Beats Out Dollar In Chinese Bilateral Trade
From April to June, the yuan surpassed the US dollar in the race to be the most-used currency in China’s cross-border trade transactions, according to a new report from Nikkei…
IMF Warns On Cryptocurrency
The International Monetary Fund (IMF) has strongly recommended that nations not grant the status of official currency or legal tender to cryptocurrencies, noting there are not enough stringent regulations in…
In Spain, Spending Power Wanes As Inflation Soars
A new Adecco Salary Monitor on Wages report released this month showed that consumers in Spain have been pummeled by among the sharpest drops in real income in the EU.…
As UK Economy Stalls, Recession Fears Grow
A new survey by S&P Global Insight indicates that in the UK, soaring interest rates have caused business growth to slow to the lowest levels seen since January, leading the…
Russia Makes Good On Oil Production Output Cut Pledge
New data from the International Energy Agency (IEA), shows Russia appears to be making good on its promise to slash its crude oil production output. Oil exports from Moscow have…
Asian Consumption Of Russian LNG Scaling Down
According to a Bloomberg report last week, shipping data shows that Russian liquefied natural gas (LNG) shipments to Asia last month fell by 15%, hitting their lowest levels in almost…
Eurozone Faces Stubborn Inflation
In June, Eurozone core inflation accelerated, according to new data released by the statistics agency Eurostat last week. The data revealed that core consumer prices, excluding volatile food and energy…
Credit Card Debt Soars At Fastest Pace In 20 Years
A new report says that in the US, credit card debt grew over the first quarter of this year at the fastest pace in two decades. A new report from…
Musk Explains Twitter’s Rebranding
Elon Musk has spoken about why he suddenly changed the branding on his micro-blogging platform Twitter, changing its name to “X” and eliminating the blue bird logo, as he begins…
Apple Sued By App Developers Over Fees
A £785 million ($1 billion) class action lawsuit was filed against tech giant Apple in the UK by 1,500 app developers on Tuesday, over its App Store fees. The developers…
