Archive for the 'Economy' Category
India Lifts Ban on Cryptocurrency Trading
March 4th, 2020Via: Techcrunch: India’s Supreme Court on Wednesday overturned central bank’s two-year-old ban on cryptocurrency trading in the country in what many said was a “historic” verdict. The Reserve Bank of India had imposed a ban on cryptocurrency trading in April 2018 that barred banks and other financial institutions from facilitating “any service in relation to […]
“How the Other Half Lives” in 1890s NYC
March 4th, 2020Via: My Modern Met: Like the hundreds of thousands of other immigrants who fled to New York in pursuit of a better life, Riis was forced to take up residence in one of the city’s notoriously cramped and disease-ridden tenements. Living in squalor and unable to find steady employment, Riis worked numerous jobs, ranging from […]
Fed: Coronavirus Emergency Rate Cut, 50 Basis Points
March 3rd, 2020Via: Yahoo Finance: The Federal Reserve cut interest rates by 50 basis points in an impromptu meeting on Tuesday as a response to the coronavirus. The Fed said the “fundamentals of the U.S. economy remain strong” but that the coronavirus “poses evolving risks to economic activity.” The cut, which amounts to a half percentage point, […]
Missouri Farmer Wins $265 Million Verdict Against Monsanto
March 2nd, 2020Via: Sierra Club: A Missouri peach farmer notched a rare courtroom victory this month, defeating the former Monsanto Co. and chemical giant BASF in the first of what is expected to be a series of court fights over claims that the companies are responsible for pesticide damage that has wiped out orchards, gardens, and organic […]
China Sending Uighurs to Factories
March 2nd, 2020Via: AFP: China is transferring tens of thousands of Uighur detainees out of internment camps and into factories that supply some of the world’s leading brands, an Australian think tank said Monday. Top global brands such as Apple, BMW and Sony have been accused of getting supplies from factories using the forced labour, an explosive […]
China’s Factory Activity Slumps in February to Weakest Reading on Record
March 1st, 2020I happened to be listening to this in the background: Via: CNBC: A private survey showed China’s manufacturing activity slumped in February, as the coronavirus outbreak hit the world’s second largest economy. On Monday, the Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 40.3 for February — the lowest reading since the survey was […]
Oil: Biggest Weekly Drop in Over 4 Years
February 27th, 2020Everything is slowing down. Via: Reuters: Oil prices fell for a sixth straight session on Friday and were on track for about a 12% weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand. More: “We estimate global oil demand has fallen […]
Another Day, Another Market Wreck
February 27th, 2020Via: Yahoo Finance: The last six days saw the S&P 500 drop by 10% from its all-time high at rate faster than it ever has before, according to Deutsche Bank Securities.
Rumor: Tesla’s Secret Battery Project Will Produce Cells at $100 per kWh on a Massive Scale
February 27th, 2020Via: Electrek: Now sources have told Electrek that the secret project is called “Roadrunner,” and it will aim to achieve mass production of a new battery cell that will be more energy-dense and cheaper. The cells are using technologies developed by Tesla’s internal teams, including work from its research lab in Canada led by Jeff […]
U.S. Car Industry Most Reliant on Chinese Parts
February 26th, 2020Via: Statista: China is among the world’s largest suppliers of car parts, exporting motor vehicle parts and accessories worth $34.8 billion in 2018, according to the UN’s Comtrade database. As the following chart shows, the U.S. car industry is theoretically most at risk of production outages as it relies heavily on parts sourced from China.
