Record-breaking rain has inundated the United Kingdom over the past few months, leaving fields submerged and livestock at risk. The relentless downpours, likely exacerbated by climate change, are now threatening the very foundation of UK food production. Challenges faced by farmers UK farmers are facing the repercussions of extreme weatherRead More →
The U.S. economy is on a rip, with employers adding around 303,000 jobs in March 2024 – the largest increase in almost a year. As the world’s largest economy continues to surge, questions arise about the Federal Reserve’s next move regarding interest rates. Stronger-than-expected Job Growth The unemployment rate fellRead More →
The world’s energy landscape is experiencing an unexpected twist: an oversupply of natural gas. As economies grapple with the aftermath of the pandemic, the gas market finds itself in a paradoxical situation. The Glut Unveiled Demand Dilemma Price Plunge Environmental Implications Conclusion The global gas glut is a paradox: abundantRead More →
China has reportedly prohibited the use of U.S. processors from both AMD and Intel in government computers and servers. The directive is designed to encourage the use of domestic alternatives. Chinese government agencies are now required to choose ‘safe and reliable’ domestic alternatives for these chips. The sanctioned list featuresRead More →
In his Capitol Hill testimony on 6th March 2024, Federal Reserve Chairman Jerome Powell reiterated that was not yet time to begin cutting interest rates. To fight inflation, which reached a rate of 9% in the summer of 2022, the central bank has significantly increased interest rates in recent times. However, prices are still stubborn, especiallyRead More →
UK interest rates have been left unchanged at 5.25% by the Bank of England as widely expected by commentators. It is the fourth time in a row the Bank has held rates at 5.25%. The Bank of England had previously raised rates 14 times in a row to curb inflation,Read More →
Turkey’s central bank on Thursday 25th January 2024 hiked its key interest rate to 45%. It comes amid an ongoing struggle against double-digit inflation for Turkey’s policymakers, with the rate hike the latest step in that ongoing fight. 30 Turkish Lira to 1 U.S. dollar Inflation in Turkey increased nearly 65%Read More →
The highest coal using countries in the world These countries accounted for about 82% of the global coal production in 2021 according to 2021 data set. China alone produced more than half of the world’s coal, followed by India with nearly 10%. Global coal use in 2023 hits few high GlobalRead More →
Deflation is an economic phenomenon characterized by a general decline in prices for goods and services. It occurs when the inflation rate falls below 0%, resulting in a negative inflation rate. This means that the purchasing power of currency increases over time, allowing you to buy more with the same amount of money. ItRead More →
The economy fell by 0.3% October, after growth of 0.2% in September 2023. UK GDP is 0.0% The UK economy shrank more than expected in October 2023, as higher interest rates hit consumers. The bad weather didn’t help either. Household spending has been dented by rate rises as the BankRead More →
United Nations’ biggest and most important annual climate conference to-date, gets underway as the United Arab Emirates on Wednesday 29th November 2023 defended what it described as ‘fake news’ designed to undermine its work as the host of the COP28 climate conference. The UAE organizers slammed a number of ‘fake press‘Read More →
Singapore is planning to introduce stricter regulations for cryptocurrency service providers in order to protect retail customers from the higher financial risks associated with digital assets. Some of the proposed measures Requiring crypto service providers to disclose the fees and charges for their services, as well as the risks andRead More →
Federal Reserve members, in their most recent meeting, gave little indication of cutting interest rates anytime soon, particularly as inflation remains well above their goal of 2%, according to minutes released Tuesday 21st November 2023. The detail of the meeting held 31st October – 1st November 2023, showed that FederalRead More →
Too much power for too few Tech execs have expressed concern that the development of artificial intelligence (AI) is concentrated in the hands of too few companies, potentially giving them too much power. OpenAI’s ChatGPT marked the start of what many in the industry have called an AI arms race,Read More →
Binance chief Changpeng Zhao pleaded guilty Tuesday to criminal charges and stepped down as the company’s CEO as part of a $4.3 billion settlement with the Department of Justice, according to court documents. The plea arrangement with the U.S. government resolves an investigation into the world’s largest cryptocurrency exchange. ZhaoRead More →
It was reported Friday 17th November 2023 by the city-state’s central bank that Singapore will be piloting the live issuance and use of wholesale central bank digital currencies in 2024. During the pilot, the Monetary Authority of Singapore, (MAS) will partner with local banks to pilot the use of wholesaleRead More →
Fear or Fact? European Central Bank President Christine Lagarde on Friday 17th November 2023 reportedly said that Europe is now at a critical juncture, with deglobalization, demographics and decarbonization looming on the horizon. Fragmentation ‘There are increasing signs that the global economy is fragmenting into competing blocs’, she said at theRead More →
IMF’s Kristalina Georgieva reportedly said that the public sector should keep preparing to deploy central bank digital currencies (CBDC’s) and related payment platforms in the future. But according to data from the Atlantic Council, only 11 countries have adopted CDBC’s thus far. Alternative to cash Central bank digital currencies (CBDC’s)Read More →
Dame Alison Rose, the former chief executive of NatWest Group, will lose out on £7.6m after she admitted to discussing the closure of Nigel Farage’s bank account with a BBC journalist. Another word for getting the sack? She ‘resigned’ from the banking group in July 2023, after the former UkipRead More →
The U.K. economy flatlined in the third quarter, initial figures showed Friday 10th November 2023. Gross domestic product (GDP) showed zero quarterly growth in the three months to the end of September 2023, following an increase of 0.2% in the previous quarter. In annual terms, the UK’s Q3 GDP wasRead More →
The Bank of England (BoE) announced its latest interest rate decision on Thursday, 2nd November 2023 to hold the bank rate at 5.25%. The Bank of England’s (BoE) Monetary Policy Committee (MPC) voted by a majority of 5-4 to maintain Bank Rate at 5.25%, the highest level in 15 years. However,Read More →
The UK supercomputer project is a major initiative by the UK government to boost the country’s capabilities in artificial intelligence, weather forecasting, climate research and other highly important scientific research projects. The project involves building and connecting two new supercomputers across the UK: Isambard-AI and Dawn. Isambard-AI will be theRead More →
In an announcement Monday 30th October 2023, the U.S. Treasury Department said it will be looking to borrow $776 billion. The Treasury said it expects to borrow $816 billion between January and March 2024. The announcement comes 10 days after the government said the fiscal 2023 budget deficit would beRead More →
The White House has announced what it is calling ‘the most significant actions ever taken by any government to advance the field of AI safety’. Oh really! Coincidence or deliberate attempt to undermine the UK AI safety drive? This news comes as the UK draws attention hosting a UK ledRead More →
The UK government said it intends to bring a number of crypto asset activities under the same regulations that govern banks and other financial services firms. The U.K. government has recently announced its plans to regulate the crypto industry with formal legislation by 2024. The government aims to protect consumers and growRead More →
The inflation rate in Argentina is extremely high and has surpassed 100% for the first time since the early 1990’s. The inflation rate for consumer prices in Argentina was 138.28% in September 2023, based on the CPI values for the last 12 months. This means that the prices of many goodsRead More →