China won’t use yuan exchange rate as a trade-war tool
China’s national currency will never be used to boost competition or as a means of handling the ongoing trade row, its central bank governor has...
Posts Tagged: "Economy"
World’s largest sovereign wealth fund in Norway to dump oil stocks
Norway’s trillion-dollar sovereign wealth fund, is set to phase out oil and gas companies from its benchmark index...
Global sovereign debt to peak at $50,000,000,000,000 this year
Ratings agency S&P Global said governments are continuing to run up huge debt levels and will borrow an...
Russia’s reserves fully cover nation’s internal & foreign debt for 1st time ever
Russia’s foreign exchange reserves can now cover all of the debt owed by both the government and domestic businesses, Russian President Vladimir Putin has announced....
Payless Shoes to close all of its remaining 2,100 US stores
Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a...
US national debt tops $22 trillion
The US national debt has climbed above $22 trillion. It is projected to continue rising by a trillion...
China on gold-buying spree amid global push to end US dollar dominance
Beijing has joined the global gold rush, increasing its gold reserves for two months in a row to 59.94 million ounces. China has long been...
Bitcoin Price Still Trading Flat While Litecoin Hits 7-Month High
Bitcoin (BTC), which continues to languish near seven-week lows, is being outshone by a surge in litecoin prices....
Are Russia, China & Turkey bringing back the gold standard?
Global central banks bought more bullion last year than at any time since 1971, when the US ended...
GM To Start Laying Off 4,250 Employees From Feb 4th
General Motors will start laying off approximately 4250 salaried employees from Monday morning (Feb 4th). The Detroit News...
Venezuela devalues currency to align it with black market
Venezuela has devalued the bolivar, in an attempt to align the currency’s value with the country’s black market, AFP reported. Amid hyperinflation, many Venezuelans rely...
All Chinese money into Silicon Valley stops after Huawei ban
Beijing may cut off all investment to Silicon Valley over Western pressure on China-based Huawei, the former deputy...
Let’s replace US dollar with Russian gold, Moscow exchange chief suggests
Russian gold could become the perfect alternative to conservative investments in the greenback, the CEO of Russia’s key...
US to slap Chinese ‘cyber-plunderers’ with economic sanctions
The US is to impose economic sanctions against Chinese companies and individuals they believe to have profited from cyberespionage against America, reports the Washington Post....
Wall Street closes down 3.6%, worst plunge since 2011
US stocks closed with the Dow Jones Industrial Average down 588 points, recovering from the shocking plunge of...
Dow Jones, Nasdaq face worst weekly losses in 2011 after yuan devaluation
The Dow Jones industrial average suffered its worst loss in five years after the market plunged into a...
Fed announces no interest rate hike
The US Federal Reserve will not be hiking interest rates, it indicated in a statement on Wednesday following a two-day meeting. The statement doesn't change...