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Economics News

A collection of 554 issues

Greg Dako: 35-40% chance of recession in the U.S. - Fox Business

Greg Dako, chief economist at EY-Parthenon, warned in a new research note that there is a 35% and 40% chance that the U.S. economy will decline over the next year. The U.S. economy could face a recession next year as persistently high inflation and increasingly aggressive Federal Reserve

G7 may turn its back on fossil fuels - Reuters

Today, German Economy Minister Robert Habeck announced the intention of the G7 countries to lead the fight against climate change and accelerate the abandonment of fossil energy resources, starting with coal. According to him, the situation in Ukraine and supply problems can become a motivation for the accelerated transition to

Tether launches MXNT Stablecoin tied to Mexican peso

MXNT will join three other fiat currency-linked tokens that Tether has in the market: USDT with a US dollar peg, EURT with a euro peg and CNHT with a yuan peg. According to Triple A, 40% of Mexican companies are looking to adopt blockchain and cryptocurrencies in some form, making

FTX CEO ready to invest $1 billion in anti-Trump election

FTX CEO Sam Bankman-Fried said he is willing to invest up to $1 billion in the U.S. election if Donald Trump runs for president. The rationale is that Sam is more inclined to the Democrats than to the Republicans. Recall that the election will be held in 2024.

Binance became a partner of the Kazakhstan Ministry of Finance

The head of Binance, Changpeng Zhao, visited Kazakhstan and held a meeting with the authorities. The result was a new document - a Memorandum of Understanding with the Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan. Exchange Binance will become an official consultant of the

About electroenergy

The United States now spends 60 percent less energy for every dollar of GDP than it did in 1950. Europe is half as much. China, which in 1990 consumed four times as much energy per dollar of GDP as the world as a whole, by 2012 had reduced costs to

Václav Smil wrote

A new round of industrial revolutions has always coincided with the discovery of new types of energy. And the most important inventions in energy are not those devices or phenomena that produce energy, but those that transform one type of energy into another - with less loss than before. The

The global interbank market is preparing for the first ECB rate hike in 10 years.

Euribor's annual lending rate rose to 0.35% (see chart below). The last time first-round banks lent to each other at this rate was in late 2014, before the ECB launched its massive QE program. So it appears that in July we will indeed see the ECB raise

It's ironic, there's no other way to put it.

At the end of February, the West, imposing sanctions on Russia, froze the accounts of the Central Bank so that it could not intervene in the foreign exchange market in order to prevent an uncontrolled collapse of the ruble. And in the first few days, the ruble really collapsed. Now

Citigroup removes Amazon from "best of" list - CNBC

* In early May, the Wedbush analytical agency also removed Amazon stock from its "best ideas" list. The latest report and the company's weak forecasts amid restrictions in China and the Ukrainian crisis led to a loss of more than 1/3 of the share price from