Problem? Americans are using their credit cards more than ever, pushing the total balance to over $1 trillion for the first time in history, according to a report from the New York Federal Reserve. The report, released August 2023, showed that credit card balances rose by $45 billion to $1.03Read More →
This proverb is quote by Confucius This proverb is attributed to Confucius, the founder of Confucianism. It means that we can learn from anyone, even those who are less knowledgeable or experienced than us. Confucius was a Chinese philosopher who is traditionally considered the ‘most perfect’ of Chinese sages. SeeRead More →
Deflation or inflation? China’s consumer price index (CPI) fell by 0.3% in August from a year ago, while the producer price index (PPI) fell by 4.4% last month. This is the first time since February 2021 that the CPI has fallen, and the 10th consecutive month that the PPI has contracted. This indicates that China isRead More →
China’s exports plunge According to latest figures the country’s trade fell more sharply than expected in July 2023, as both global and domestic demand receded amid the pandemic and ongoing tensions with the United States. China’s exports fell by 14.5% in July 2023 from a year ago, the biggest dropRead More →
John Calvin 1509 -1564 Very apt quote for our time, even though this comment is some 460 yeas old. John Calvin, theologian and pastor. He was the leading French Protestant reformer and the most important figure in the second generation of the Protestant Reformation. The term protestant comes from the LatinRead More →
Pure mechandise Barbie, the live-action movie based on the popular toy doll, has become a global phenomenon, surpassing $1 billion in cinema sales worldwide. The film, directed by Greta Gerwig and starring Margot Robbie and Ryan Gosling, is the first solo female-directed movie to achieve this milestone, breaking the recordRead More →
Chancellor Jeremy Hunt has asked the City watchdog to speed up a probe into whether people have had bank accounts closed due to their political views It follows a row over the closure of former UKIP leader Nigel Farage’s Coutts account. Mr Hunt requested the Financial Conduct Authority (FCA) toRead More →
Room 101 phrase origin The phrase ‘Room 101’ comes from George Orwell’s dystopian novel Nineteen Eighty-Four, published in 1949. In the novel, Room 101 is a torture chamber where prisoners are subjected to their worst fears and nightmares. The name of the room was supposedly inspired by a conference room atRead More →
That’s still 3% above the target of 2% The Bank of England’s forecasting, which has a major impact on the UK economy, is being reviewed and has been criticised. After the Bank raised interest rates for a 14th time in a row in an effort to slow price rises inRead More →
George Orwell 1903 – 1950 This is the famous quote in the novel Animal Farm where it suggests ‘we are all equal, but some are more equal than others’. Animal Farm is a fable by George Orwell that criticizes the corruption of power and the dangers of totalitarianism. It appearsRead More →
According to the chancellor Jeremy Hunt, the UK economy is caught in a trap The UK and other advanced economies are facing a low-growth trap that is hard to escape. This means that the potential growth of the economy, which depends on factors such as productivity, innovation, investment, and labour force, isRead More →
Nikola Tesla 1856 – 1943 This quote is attributed to Nikola Tesla, a Serbian-American inventor, engineer and physicist who is best known for his contributions to the development of alternating current electricity, wireless communication and radio.Read More →
Leader China has been leading the global electric vehicle (EV) market for years, thanks to its large domestic demand, generous government subsidies, and well-established battery and electronics industry. However, the west is not giving up on the race to electrify the transport sector and reduce greenhouse gas emissions. Europe reportedlyRead More →
Gallium and germanium No, nor me – never heard of them, but they are extremely important elements needed in microchip manufacturing and China is the world’s largest producer. Germanium and gallium are two elements that are used in the production of semiconductor chips, which are essential for various electronic devicesRead More →
Nikola Tesla 1856 – 1943 This quote is attributed to Nikola Tesla, a Serbian-American inventor, engineer and physicist who is best known for his contributions to the development of alternating current electricity, wireless communication and radio.Read More →
15 year high… and counting The Bank of England (BoE) announced another increase in its base rate, from 5% to 5.25%, the highest level in over 15 years as of 3rd August 2023. This is the 14th consecutive rise since December 2021, when the BoE started to tighten monetary policyRead More →
Dream or reality – did this really happen? The party-gate scandal lead to SERVING members of the UK government being fined, including the then prime minster (since sacked by the party) – and the then chancellor of the exchequer (now our serving prime minister). You really can’t make this stuffRead More →
Why are we so surprised when it rains in the UK? Latest reports suggest that the number of people heading out to the shops fell for the first time in July in 14 years as the UK struggled with one of the wettest months on record. Overall footfall was downRead More →
Banks may use XRP Ripple as a payment system to replace SWIFT XRP Ripple is a payment settlement system and currency exchange network that can process transactions globally. It is designed to facilitate cross-border payments by using XRP, a cryptocurrency, as a bridge currency between different fiat currencies. XRP advantage isRead More →
Revenue up 50% year-on-year, thanks to Zelda Nintendo Co. has reported a new high for its first-quarter profit, thanks to the blockbuster launch of its latest Legend of Zelda game. The Legend of Zelda: Tears of the Kingdom, released in May 2023, sold more than 18.5 million copies in theRead More →
Must try harder The U.S. has lost its top credit rating from Fitch Ratings, one of the three major credit rating agencies, due to its recent political gridlock over the debt ceiling and deteriorating fiscal situation. How much does this matter? Fitch re-calculated the U.S.’s long-term foreign-currency issuer default ratingRead More →
‘One minute I’m in work and the next…?’ ‘Is this AI again?’ The day the blue bird flew away – Twitter rebrands as X – Taking StockRead More →
Green? The UK government has announced a plan to issue over 100 new oil and gas licences in the North Sea, as part of its drive to make Britain more energy independent and reduce reliance on imports. The Prime Minister said that even when the UK reaches net zero by 2050,Read More →
