Economy & Money

US business levels fall sharply amid coronavirus

US business levels fall sharply amid coronavirus

Business activity in the US service sector fell last month for the first time since 2013, hurt by the coronavirus,
Wells Fargo reaches $3bn fake accounts settlement

Wells Fargo reaches $3bn fake accounts settlement

Wells Fargo, a major US bank, has agreed to pay $3bn (£2.3bn) to resolve a government investigation into its sales
Overseas investors increase holdings of Chinese bonds despite coronavirus uncertainty

Overseas investors increase holdings of Chinese bonds despite coronavirus uncertainty

Demonstrating confidence in China, international investors continued to invest in the country’s economy. Net purchases of Chinese bonds were worth
Pope Francis endorses wealth redistribution, calls for an end to tax cuts for the ‘richest people’

Pope Francis endorses wealth redistribution, calls for an end to tax cuts for the ‘richest people’

Pope Francis blasted the practice of tax cuts for the rich as part of a “structure of sin” and lamented
Worst day in years as Chinese markets plunge 8% amid coronavirus outbreak

Worst day in years as Chinese markets plunge 8% amid coronavirus outbreak

China’s stock markets tanked on Monday, their first day of trading after an extended Lunar New Year holiday, with nearly
‘I wasn’t allowed to buy my burrito with cash’ – NYC

‘I wasn’t allowed to buy my burrito with cash’ – NYC

During a recent lunch hour in New York, a sea of office workers filled the Hudson Eats food court, where
Trump official says China coronavirus is good for US economy

Trump official says China coronavirus is good for US economy

US Commerce Secretary Wilbur Ross said on Thursday the deadly coronavirus outbreak that has claimed the lives of 213 and
Gold prices surge as global coronavirus fear shakes market confidence

Gold prices surge as global coronavirus fear shakes market confidence

Gold is once again proving its reputation as the traditional safe haven during times of uncertainty. The price of the
Why the coronavirus is a real threat to China’s economy

Why the coronavirus is a real threat to China’s economy

The deadly new coronavirus has started spreading across China and beyond and has infected hundreds of people. The outbreak has
Brexit day 50p coin unveiled by Chancellor Sajid Javid

Brexit day 50p coin unveiled by Chancellor Sajid Javid

A commemorative 50p coin marking the UK’s departure from the EU has been unveiled by Chancellor Sajid Javid. The coins
Stock market a ‘Ponzi scheme’ that eventually must collapse

Stock market a ‘Ponzi scheme’ that eventually must collapse

The rallying markets aren’t as good as they seem, says Guggenheim Partners chief Scott Minerd. He likened inflation of asset
Richest 1% owns more than TWICE as much wealth as 6.9 billion people

Richest 1% owns more than TWICE as much wealth as 6.9 billion people

A super-rich one percent of the world’s population has accumulated twice as much wealth as the remaining 90 percent, global
China & Zimbabwe ink currency-swap deal to bolster trade

China & Zimbabwe ink currency-swap deal to bolster trade

Africa’s largest trading partner, China, which has invested heavily in Zimbabwe in recent years, has reached a currency swap agreement
Oil rallies & gold hits 7-year high as tensions flare in the Middle East

Oil rallies & gold hits 7-year high as tensions flare in the Middle East

The escalating situation in the region following the assassination of a top Iranian military commander has given the yellow metal
Congress Considers Federal Crypto Regulators In New Cryptocurrency Act Of 2020

Congress Considers Federal Crypto Regulators In New Cryptocurrency Act Of 2020

While Congress prepares to adjourn for the holidays, a bill has emerged that would provide a comprehensive regulatory framework for
World’s largest printer of money is running out of cash

World’s largest printer of money is running out of cash

The company that prints the UK’s banknotes and currency for 140 other countries has issued a warning of possible collapse,
US unemployment rate falls to 50-year low of 3.5%

US unemployment rate falls to 50-year low of 3.5%

The US unemployment rate has fallen to a 50-year low, presumably easing recession worries after latest weak financial information. The
ROTHSCHILD wants to help Saudi BINLADIN Group restructure debt

ROTHSCHILD wants to help Saudi BINLADIN Group restructure debt

Multinational funding banks Rothschild and Moelis have been shortlisted to advise on restructuring about $15 billion of debt at Saudi